"True, the bonds will serve as our starting point to be able to conduct IPO (initial public offering)," Waskita Karya President Director M. Choliq said on the sidelines of a coordination meeting of the State Enterprises Ministry at the Pertamina Head Office here on Monday.
He said local credit rating agency PT Pefindo was in the process of rating the bonds. The company would later explore the possibility of signing a contract with bond issue underwriters.
"If the bonds receive adequate rating from the rating agency, we will sound out (the plan to issue the bonds) to the market," he said.
He said proceeds from the issuance of the bonds would be used to restructure the company`s debts.
Waskita Karya has set the target of its net profit for 2012 at Rp200 billion, a 25 percent increase compared with the target for 2011.
The company also has set the target of its income for 2012 at Rp9 trillion, up by Rp2 trillion from the target of Rp7 billion for this year.(*)
Editor: Heru Purwanto
Copyright © ANTARA 2011
