Indonesia’s Pelindo IV Releases US$358M Bonds in June

Photo credit : Pelindo IV

JAKARTA (TheInsiderStories)—  PT Pelabuhan Indonesia IV also known Pelindo IV will release local currency bond as much as Rp5 trillion (US$358 million), said the company. Currently, the state-owned port operator manages a number of ports in eastern Indonesia.

Based on the press release received by TheInsiderStories on Friday (04/05), part of the proceeds will be used for debt refinancing and investment. Director of Pelindo IV Farid Padang stated the fund from the initial phase of Rp3 trillion will be used for debt refinancing with worth of Rp1.8 trillion and the remaining Rp 1.2 trillion will be used for capital expenditure.

Recently, the company has signed a collaboration agreement with four companies to set up bonded logistic zone in Makassar port in South Sulawesi. According to the President Director Doso Agung, the bonded zone development is aimed to speed up the movement of goods from and to the Makassar port.

The four companies that will cooperate with the port operator namely PT Angkasa Pura Logistik, PT Kawasan Industri Makassar, PT Sumisho Global Logistics Indonesia and PT Ampat Yasa Intermoda.

In addition, the companies will also cooperate with the company to develop container freight station and depot container. The expansion of the port is in line with the government’s drive to speed up goods flow to and from eastern Indonesian region.

Beside use the funds to accelerate of the development of Makassar New Port, Pelindo IV has plan to build container terminal at International Hub Port (IHP) Bitung in North Sulawesi, Kendari New Port in Southeast Sulawesi, Pantoloan Port in Palu in Central Sulawesi, Ambon Port in Maluku, and Jayapura Port in Papua.

By 2019, Pelindo IV expects to have container loading and unloading facilities in 12 ports. It Includes loading and unloading tools container cranes and rubber-tire gantry in the several ports.

In addition, the company also prepared internal investment of Rp3.4 trillion for the port expansion. This year, Pelindo IV eyes a profit of Rp1 trillion in 2018 or an 84.5 per cent rise compared to last year Rp542 billion.

Doso Agung expect the government’s maritime axis program has boosted logistics and flow of vessels to the eastern Indonesia, which ultimately the business growth of the company.

US$1: Rp13,800