Citra Kebun in talk to repay Duta Agro's MTN

JAKARTA: PT Citra Kebun Raya Agri Tbk is in talk to pay off medium term notes (MTN) of PT Duta Agro Asia at IDR500 billion.Citra Kebun Asri Financial Advisor Socrates Rudy Sirait informed that the MTN of its subsidiary is supposedly to mature in June
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News Editor - Bisnis.com 15 Desember 2010  |  04:21 WIB

JAKARTA: PT Citra Kebun Raya Agri Tbk is in talk to pay off medium term notes (MTN) of PT Duta Agro Asia at IDR500 billion.Citra Kebun Asri Financial Advisor Socrates Rudy Sirait informed that the MTN of its subsidiary is supposedly to mature in June 2011.The company has time to repay until next year but we try to accomplish it before the end of this year, he said to Bisnis, today.The company, he continued, also obtained an agreement to extend the mandatory exchangeable bond t 2012.According to him, Citra Kebun, which transforms its core business from property to plantation, is projecting next years revenue at IDR98 billion.The CKRA-coded company has not recorded the revenue due to delay on the completion of the construction of cassava processing mill from the initial target in September 2010 to April 2011.Revenue next year will come from PT Horizon Argro Industrys production in Central Lampung. The initial production is predicted to reach 22,500 tons by utilizing 50% of the capacity.By 2012, the company expects to utilize 80% of the capacity or equals with 43,200 tons and record IDR185 billion revenue.Citra Kebun, he added, has received purchasing commitment from Japanese Itochu for 45,000 metric ton starch produced from Jambi and Bengkulu. (T05/NOM)

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Editor : Muhammad Fariz Aulia

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