JAKARTA: PT Angkasa Pura II expects its financial review for business expansion to complete in September or October 2011.The company is estimated to require IDR12 trillion funds for airport improvement and other commercial activity, AP II President Drector Tri S Sunoko said.Its not only reviewing internal cash but also bank loan and bond issuance. The financial review is in final stage. It will probably complete in the next 3-4 months. We need IDR12 trillion, he added today.Such review will not only determine the source of funding but also its composition. Business development is expected to complete on third quarter 2014. AP II also plans to cooperate with private parties or other SOEs for commercial development such as hotel construction and other activities.Earlier, Tri said that PT Bank Mandiri Tbk, PT Bank Rakyat Indonesia Tbk (BRI) and PT Bank Negara Indonesia Tbk (BNI) has offered bank loan to the state-controlled airport operator but it hasnt been ascertained until now.The company doesnt plan to conduct initial public offering (IPO) since it needs a long preparation. SOE Ministry has suggested AP II to conduct IPO or enters the IPO list but it was canceled. We have no plan since it needs long preparation and time, he said.In addition, SOE Ministry Mustafa Abubakar support the SOEs to seek funding through capital market such as IPO and bond, which must be conducted in accordance to companys needs. (t06/msw)

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