JAKARTA (TheInsiderStories) - Ocean 21 Holdings Pte., Ltd., unit of PT Indofood Sukses Makmur Tbk (IDX: INDF) plans to establishes three new subsidiaries in Singapore as part of the company expansion. The three new subsidiaries engaged in the shipping business under the name Ocean Gold Pte., Ltd., Ocean Jade Pte., Ltd., and Ocean Perkasa Pte., Ltd.
The managemen said on Friday (10/02), paid-up capital for each of the subsidiaries was US$100,000, subscribe and paid up by Ocean 21, the entity which founded in 2006. The unit engaged in investment businesses. Until first half of 2020, he total assets of the Ocean 21 reached Rp2.58 trillion ($174.32 million) until the period 30 June 2020.
Recently, the other subsidiary, PT Indofood CBP Sukses Makmur Tbk (ICBP), has completed the acquisition of the related firm to the Salim Group, Pinehill Company Ltd., to expand the international market. The preident director of Indofood, Anthoni Salim has indirect ownership of around 49 percent stake in Pinehill Corpora.
Pinehill currently has a strong market share in the African, Middle East and Southeast European markets and has 12 instant noodle production facilities in 8 countries with a total population of 550 million inhabitants and has a distribution network in 33 countries with a production capacity of 10 billion packs of instant noodles.
This acquisition costs amounting to $2.99 billion. Most of the funding for this acquisition was obtained from a syndicated loan facility of worth of $2.05 billion.
Recently, the two consumer companies belonging to the Salim Group, spread dividends totaling of Rp4.62 trillion. The decision was approved by shareholders at an annual shareholders’ meeting on July 15.
According to Salim, the shareholders agreed to distribute dividend pay out ration of Rp2.44 trillion for the net profit in 2019 or Rp278 per share. The dividend amount is equivalent to 50 percent of the company’s net profit in 2019 of Rp4.91 trillion.
Last year, Indofood‘ operating profit grew 8 percent to Rp9.83 trillion from 2018 to Rp 9.14 trillion. While net profit increased by 18 pesent to Rp 4.91 trillion from 2018 amounting to Rp4.17 trillion. The increase in net profit was supported by the income of the company, which reached Rp76.59 trillion or grew 4 percent compared to revenue in 2018 Rp73.39 trillion.
“The shareholders agreed to distribute a dividend of Rp278 per share and will be paid on August 14, 2020,” Salim said in his official statement yesterday.
Infofood CBP, which produces instant noodles, also agreed to distribute dividends of Rp215 per share or 43.22 percent of the company’s net profit last year of Rp5.04 trillion. In 2019, the unit’ net profit rose 10 percent to Rp5.04 trillion from the previous year at Rp4.58 trillion.
This net profit support is in line with the consolidated net sales growth of 10 percent to Rp42.30 trillion last year from the previous year of Rp38.41 trillion. The increase in net profit pushed the net profit margin to be relatively stable at around 11.9 percent, core profit increased 22 percent to Rp5.16 trillion from Rp4.22 trillion.
Salim continued, the company will maintain growth momentum by capturing various opportunities going forward for Indofood CBP.
US$1: Rp14,900
Written by Editorial Staff, Email: theinsiderstories@gmail.com
