Business Times, February 20 2007
JAKARTA: Indonesian shipping company PT Humpuss Intermoda Transportasi Tbk is allocating US$100 million (US$1 = RM3.49) to buy six new vessels this year, the company's chief said yesterday.
Teguh Arya Putra, Humpuss' president director, said the company plans to acquire four chemical tankers, one floating storage ship and a coal carrier this year, to meet its target of 17.6 per cent growth in net profit.
"To meet that target, we are allocating US$100 million this year, which would be used to purchase six ships. We have been talking with some creditors and it is almost final," Putra told reporters.
The company reported a 15.65 per cent increase in net profit to 170 billion rupiah (100 rupiah = RM0.04) last year and is aiming to book a 200 billion rupiah net profit this year.
Humpuss, which has a market capitalisation of US$271.5 million, is engaged in sea transportation and related activities, which involve transporting methanol, liquefied natural gas (LNG), crude oil, fuel and other sea cargo.
It has 14 vessels in its fleet, including LNG carriers and chemical tankers. - Reuters
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