• Intraco Penta (INTA) plans to offer new shares through rights issue with total amount reaching Rp500bn. The company will use the proceed to acquire 2-3 coal concessions in Kalimantan worth Rp300bn by the end of 2010F. The company is currently conducting due diligence process on the targeted coal concessions which have 60-120mn coal resources.
• In the meantime, the company has prepared US$1-2mn for its general spending, and around US$3-4mn to build new office building in Cakung, North Jakarta. The total capex for this year may reach US$5mn.
• For 2010F, the company expects its revenue to grow by 33.9% YoY to reach Rp1.5tn vs Rp1.12tn in 2009, while for the bottom line the company aims for Rp71bn net profit this year or up by 89.5% YoY.
• The company will also disburse 35% of its 2009 net profit as cash dividend or reaching Rp30/share (4.3% yield).
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