JAKARTA (TheInsiderStories) - State-owned Agro Industry, Pharmaceuticals, Medical Devices and Trade firm, PT Rajawali Nusantara Indonesia (RNI) will issue Medium Term Notes (MTN) of Rp 865 billion in order to develop businesses in the pharmaceutical sector, medical devices and agriculture industry sectors.
The MTN is planned to be published during the first semester 2017 and was intended to finance working capital, increase the capacity of pharmaceutical manufacturers, as well as expansion in the industrial sector of medical devices. Finance Director of RNI Yana Aditya said, the MTN will be issued by RNI as the parent company with total amoun Rp 665 billion and its subsidiaries PT RNI Pharmaceuticals Phapros Tbk amounting to 200 billion.
RNI budgeted capital expenditure of Rp1.1 trillion in 2017, an increase of 286 percent compared to 2016. Meanwhile, Phapros will be used the fund to build new plants and plant capacity in Simongan, Semarang, Central Java. The existing factory has a production capacity of 2 billion pills per year with the utilization of already above 80 percent will be increased so as to get maximum capacity, continued Yana is also a Commissioner of Phapros.
In 2016, Phapros sales recorded Rp810 billion, an increase of up to 17 percent compared to 2015 which amounted to Rp691 billion. Meanwhile, net income in 2016 is estimated to reach Rp 100 billion or an increase of 59 percent compared to the year 2015 amounted to Rp 63 billion. The realization of this achievement far beyond CBP companies in 2016.