“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.

They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)

Friday, February 08, 2008

Elnusa lists shares on bourse, plans expansion

Agustina Wayansari, The Jakarta Post, Jakarta

PT Elnusa, a subsidiary of state oil company PT Pertamina, officially listed its shares on the Indonesia Stock Exchange on Wednesday, having completed an initial public offering (IPO) for 20 percent of its current equity.

The oil and gas exploration and drilling company raised Rp 584 billion (some US$62 million), president director Eteng A. Salam said Wednesday.

Eteng said approximately 53 percent of the proceeds would be used to finance business expansion, while the remainder would be equally distributed as working capital, debt repayment and support for its subsidiaries.

He expects the listing of the company's shares on the local bourse to significantly improve the company's performance.

"This year, we expect to increase our net profit by up to 90 percent, from Rp 110 billion last year to over Rp 200 billion. We are targeting revenues of Rp 2.2 trillion," said Eteng. PT Elnusa recorded Rp 2 trillion in revenue in 2007.

Hendri Suardi, PT Elnusa's finance and administration director, said the company was also considering the possibility of debt financing for further expansion. The additional finances, approximately $100 million, would be raised either through a bond issue or loan.

"We are currently reviewing our options for debt financing and will make a decision in the third quarter of the year. We may consider both a bond issue as well as loans," Hendri said.

PT Elnusa has already initiated talks with Bank Central Asia (BCA), Bank International Indonesia (BII) and Bukopin, said Hendri, adding a consortium of the above may provide a loan to the company.

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