JAKARTA: PT Pelat Timah Nusantara Tbk, a state-owned tinplate producer, targets to have 15% increase in sales this year, or IDR1.5 trillion, compared to IDR1.3 trillion in 2010.Financial Director Pelat Timah Nusantara (Latinusa) Erwin said that the expected income was in line with the predicted product sales at 115,000 ton, growing from 105,000 ton last year.The increase in income matches the companys production capacity that is expected to reach 160,000 ton as we are running the project to enlarge capacity, he said yesterday.For this year, as he added, the company has set capital expenditure (capex) around IDR125 billion, to support the enlargement of capacity and production machine (revamping).According to him, the main source of fund for the companys capital expenditure is the initial public offering (IPO), which was conducted in 2009.The subsidiary of PT Krakatau Steel Tbk generated fresh fund as much as IDR157 billion from the IPO.Production capacityIn the meantime, the revamping project of this NIKL-coded company is predicted to spend not less than US$15 million.After the project completes, the companys annual production capacity will increase to 160,000 ton by 2012 from 130,000 ton at present.Apart from increasing production capacity, the acceleration of Latinusas production machines will be elevated to 330 meter per minute from 275 meter per minute.With the capacity of 160,000 ton in 2012, the company whose 35% shares held by Nippon Steel Corporation can fill not more than 80% needs of national tinplate.Yuganur Wijanarko, an analyst at PT HD Capital Tbk, said in his research that the predicted net income of Latinusa in 2011 is IDR102.6 billion.He also forecasted the capital expenditure of the company will rise by 43% this year.We assumed that Latinusas capital expenditure in 2011 increases 43% to make up the growth of sales up to 10% and growth of income at 14%, he explained.Stock price of Latinusa is expected to surpass IDR600 this year. At closing of yesterdays trading, Latinusa fell 5 points to IDR430. (t04/wiw)

Cek Berita dan Artikel yang lain di Google News dan WA Channel

---

Artikel Terkait

Berita Lainnya

Berita Terbaru