JAKARTA: PT Alfa Retailindo Tbk, a unit of retail giant PT Carrefour Indonesia, in the first quarter of 2011 suffered a total loss of IDR5.04 billion, doubling from a year earlier, on increasing cost of goods sold.The company only posted 3.82% revenue increase to IDR381.96 billion in the first quarter this year, while the cost of goods sold grew 8.29% to 322.43 billion.Alfa Retailindos cash declined 15.51% to IDR76.84 billion as of March 31, 2011, compared to a year earlier. The assets of the company were valued at IDR657.52 billion or slipped by 2.30%.The company announced its plan to voluntarily delisting from the stock market due to illiquid trading. The company will make an tender offer at IDR4,500 per share, premium from the market price of IDR2,400 a share. It will seek approval from shareholders at shareholders meeting on June 30, 2011.The company had decided to go private because its publicly-traded shares were no longer liquid. The amount of share trading was so small and mostly only 1 lot for every transaction within six years. The other reason is that the company no longer needs to raise fund from public.Currently, PT Carrefour Indonesia owns 99.89% of Alfas shares, the remaining shares or 0.11% held by public. Carrefour Indonesia is owned by PT Trans Retail, which held 40%, Carrefour S.A. with 39.02%, Onesia BV with 11.02%, and Carrefour NBV 9.51%.The ALFA-coded stock has been suspended since April 28, 2011. (NOM)
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