JAKARTA : PT MNC Sky Vision, subsidiary of PT Global Mediacom Tbk owned by Harry Tanoesudibyo, announced its initial public offering (IPO) plan this year.In its official statement to Indonesian Stock Indonesia (IDX) yesterday, the company that engaged in pay television industry will raise public fund to support its expansion plan.MNCs pay television networks that mostly known as Indovision and Top TV has successfully dominated the market more than 78% in Indonesia.At the end of 2010, the subscribers of Indovision and Top TV has reached more than 800.000 subscribers and projected to continue increasing in line with the low penetration of networked TVs within the country up to now.The company believes its listing in the IDX can be conducted this year, although it hasnt yet appointed the underwriter for the IPO plan.If the IPO plan is realized then the MNC business groups that will be traded in the market are PT Bhakti Investama Tbk, PT Media Nusantara Citra Tbk and PT Global Mediacom Tbk.MNC business groups controlled by Indonesian businessman Harry Tanoesudibyo has gained advertising revenues amounted to IDR3.72 trillion or equivalent with 74.55% of the companys total revenues at IDR4.99 trillion last year.MNCs President Director Harry Tanoesudibyo in his official statement said that the companys revenue throughout 2010 has grown 27% compared to IDR3.92 trillion in 2009.We have successfully increased our performance along 2010. We continue to believe that we are able to maintain such performance in 2011, he said, kemarin.In line with revenue growth, the net income of the MNCN-coded company also soared to 94% or IDR748 billion throughout 2010 compared to IDR386 billion in 2009.The company that controlled the media business through television network, radio, newspaper, online portal and investment is also seeking 22.8% growth in revenue or around IDR6.13 trillion in 2011.As for the net income projection during 2011 is estimated to reach IDR1.06 trillion.When referring to the net income achieved in 2010, the ratio of earning per share (EPS) is estimated within the range of IDR54-IDR55 per share.The analyst of Sucorinvest Central Gani Ghifar Indra Sakti estimates the EPS of Media Nusantara Citra in 2010 was at IDR57 with assumption of IDR789 billion net income and IDR3.87 trillion revenues.Meanwhile, the analyst of PT Bapindo Bumi Sekuritas Arifin Hasudungan assessed that the mass media industry will thrive rapidly in 2011 in line with people needs for information.Moreover, if the listed company of this sector could see the market opportunity by serving the public with interesting TV shows. The need for high quality, educate and entertaining is highly expected by the people," he explained.New listed companiesSeveral companies have expressed their readiness to be listed companies until June this year. The candidates both private and SOE remain optimistic despite capital market conditions have not improved.PT Buana Listya Tama, subsidiary of a giant oil and gas shipping company PT Berlian Laju Tanker Tbk, plans to dispose 39% ownership at maximum through initial public offering in first semester of 2010.PT Wijaya Karya Tbk is expecting the IPO of its subsidiary namely PT Wijaya Karya Beton to run this year. Meanwhile, PT Cipaganti Citra Graha, Cipaganti business group, has affirmed the disposal plan of 30%-40% ownership through IPO.PT Eagle Capital, a consultant and investment company is currently facilitating a hybrid maize seed producer from Philippines to list its shares in first quarter this year.Eagle Capitals President Director Harry Wiguna said the target funds from the IPO can reach IDR200 billion-IDR300 billion."We are currently selecting the underwriters that will assist the IPO process and other supporting agencies and then submit the IPO registration documents to the Indonesian Stock Exchange (IDX)," he said last week. (t06/wiw)

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