ID :
60218
Tue, 05/12/2009 - 17:38
Auther :
Shortlink :
https://www.oananews.org//node/60218
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BAKRIE TELECOM HEDGES DEBT TO CREDIT SUISSE
Jakarta, May 12 (ANTARA) - Esia cellphone provider PT Bakrie Telecom Tbk hedged US$145 million of its debt to Credit Suisse to minimize possible exchange rate losses.
Its finance director, Jastiro Abi, said here on Tuesday if no loss was made that would be better and the company might possibly buy dollars when the currency was cheap or repay its debt right away.
He said in the first quarter of 2009 the company's profit dropped from Rp27.4 billion to Rp5.7 billion while its exchange rate loss reached Rp14.2 billion.
In the same period the company booked an income of Rp658.2 billion which was an increase of 49.5 percent from its ebitda (earnings before interest, tax, depreciation and amortization) recorded at Rp235.6 billion.
He said the company targeted 3.2 million customers in 2009. Until the end of 2008 its total customers reached 7.3 millions.
To meet the target the company plans to increase the capacity of its network in various cities in the country. "We will increase the capacity to improve the quality of our telecommunication service. The capacity of our network in Jakarta could serve seven to 8.5 million customers from only six millions before," he said.
With the total number of customers reaching 10.5 million by the end of this year the company hopes its income and profit in the year could rise double-digit. "We cannot as yet tell the value but we believe we can grow double-digit," he said.
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Its finance director, Jastiro Abi, said here on Tuesday if no loss was made that would be better and the company might possibly buy dollars when the currency was cheap or repay its debt right away.
He said in the first quarter of 2009 the company's profit dropped from Rp27.4 billion to Rp5.7 billion while its exchange rate loss reached Rp14.2 billion.
In the same period the company booked an income of Rp658.2 billion which was an increase of 49.5 percent from its ebitda (earnings before interest, tax, depreciation and amortization) recorded at Rp235.6 billion.
He said the company targeted 3.2 million customers in 2009. Until the end of 2008 its total customers reached 7.3 millions.
To meet the target the company plans to increase the capacity of its network in various cities in the country. "We will increase the capacity to improve the quality of our telecommunication service. The capacity of our network in Jakarta could serve seven to 8.5 million customers from only six millions before," he said.
With the total number of customers reaching 10.5 million by the end of this year the company hopes its income and profit in the year could rise double-digit. "We cannot as yet tell the value but we believe we can grow double-digit," he said.
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