JAKARTA: PT Ever Shine Tex Tbk is eyeing US$70 million in sales next year following the plan of its subsidiary PT Primarajuli Sukses to start operation in the first quarter of 2011.
Assuming the rupiah exchange rate at IDR9,000 per dollar, the company targets to book IDR630 billion in net income. Director of Ever Shine Tex Erlien L. Surianto revealed the government had allocated IDR29.9 billion in capital expenditure to build plants, develop gas stations, install chiller and air treatment system, and develop other supporting facilities. "We will allocate the capital expenditure this year. We hope to start the operation of the subsidiary by the first quarter of next year." Since the plant of Primarajuli Sukses will be fired by gas, the company targets to cut cost of production by IDR900 million-IDR1 billion per annum. The company also plans to dispose of its subsidiary PT Indo Yongtex Jaya next year provide there is suitable buyer and price. The subsidiary will be divested since the operational activities of Indo Yongtex Jasa will be entirely handled by Primarajuli Sukses. "Indo Yongtex Jasa has still been fired by electricity. We have started thinking of making efficiency and switching to gas." According to the plan, the company will build one more gas-fired power engine for Primarajuli Sukses. "It will need a total budget of IDR5 billion," he said, adding the company [ESTI] during January-September 2010 booked IDR430.93 billion in net sales. (wiw)
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