JAKARTA: PT Fast Food Indonesia Tbk, the owner of fast food chain Kentucky Fried Chicken (KFC), considers issuing IDR200 billion bonds by 3Q/2011, as it seeks business expansion.The company, whose 35.84% shares belongs to Anthony Salim through PT Megah Eraraharja, will use the proceeds from the issuance to finance the opening of up to 30 new stores this year.This year the company has set budget of IDR290 billion for new stores but it has prepared not more than IDR90 billion from internal cash. The company expects the remaining will come from bond issuance.It is being discussed with the management, we hope the decision will come in September, said Fastfood Indonesia Financial Director Justinus D. Juwono yesterday.Berdasarkan laporan keuangan per 31 Desember 2010, Fast Food memiliki utang bank senilai Rp127,91 miliar dengan ekuitas Rp1,24 triliun. Dengan demikian rasio utang terhadap modal (DER) perseroan hanya 0,1 kali.According to financial report as of December 31, 2010, Fast Food recorded total bank loan at IDR127.91 billion and equities at IDR1.24 trillion. Thus, the companys debt to equity ratio (DER) was not more than 0.1 times.After the IDR200 billion bond issue, the companys DER will be 0.27 times, relatively big space to get more loan.The company expects to have income growth by 15%, or amounting to IDR3.2 trillion this year, Justinus said. At the same time, net income is expected to grow by 20% to IDR200 billion.He added that the company has settled a loan syndication from some local banks, including PT Bank Central Asia Tbk.The companys shareholders meeting yesterday decided to pay IDR448.10 a share dividend, or IDR200 billion in total.Last year, the company booked net income at IDR199.59 billion, or IDR447 a share.Referring to the companys financial statement on December 31, 2010, Anthony Salim is the President Director of the company.Reza Priambodo, an analyst at PT Indosurya Securities, thought that there is still big opportunity for Fast Food to generate profit, as it opens new stores. The bond issue plan is also considered positive.Consumer goods sector have the fastest growth with high profit. As it becomes real, the bonds will be hunted by investors, he said.Capex PanoramaPT Panorama Transportasi Tbk, a Jakarta-based transportation company, also revealed its plan to issue bonds or to get bank loans of IDR150 billion for increasing capital expenditure.The company expects to get the proceed this year, as it needs capital expenditure, said Finance Director Angreta Chandra after a public expose yesterday.Angreta explained that the capital expenditure will be used to buy new vehicles to support business expansion.In its financial report as of March 2011, Panoramas total bank loans were at IDR91.87 billion and equities at IDR73.22 billion, making DER at 1.25 times.Regarding the plan of adding IDR150 billion debt, the transportation companys DER will be at 3.3 times. (T04/NOM)
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