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Report Publish : December 09, 2009
Reasons for report : Company update
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AKR Corporindo Tbk
(BUY - Rp1,160)
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Tittle : Fueling Growth to All Corners
Analyst : Steve Matuari |
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- Management indicated that monthly sales volume in 3Q09 has reach 100ths kl, a significant increase from 64ths kl in 1Q09. Hence, despite 1H09 petroleum sales volume only accounted 45.8% of our FY09 volume target of 950ths kl we believe our target is conservative and achievable.
- BP Migas granted AKRA license to distribute 109ths kl of subsidized fuel in Sumatra and Kalimantan, the largest allocation amongst other bidders, Shell and Petronas.
- Expansion is also going on in company´s manufacturing division. AKRA is finalizing the acquisition of Bumi Tapioka Jaya, a 50ths tons cassava starch manufacturer in Lampung. Another starch plant lampung with total production capacity of 75ths tons is also under construction and should commence operational in 2011.
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