Holding company aims revenue to double to Rp 103 trillion in 2014

Tue, 02/21/2012 - 22:29

The government’s plan to set up a holding company for the country’s 15 state-owned plantation companies could potentially more than double the combined sales revenue of the firms to Rp 103 trillion by 2014 from the estimated Rp 50 trillion for this year.

Amri Siregar, President Director of state-owned plantation firm PTPN III, which has been appointed by the government to become the holding company for the other PTPNs, said that the consolidation of the PTPNs into a single holding company would help improve the performance of the individual firms, strengthen bargaining power, create efficiency, and improve cashflow.

The government plans to officially set up the holding company in March of this year. 

Amri said that if sales revenue could reach Rp 103 trillion, net profit of the combined firms should increase to Rp 12 trillion from the targeted Rp 5.3 trillion for this year. (rei)


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