GMS Results: NI’s Revenue Growth is The Highest Compared to Other Toll Operator Companies
10 June 2014
Author: Administrator
Based on the first quarter of Financial Statement of 2014, NI’s revenue and sales increased significantly from Rp 68.78 billion (in the same period in 2013) to Rp 104 billion (52%).
NI also posted a net profit increasement of 296.8%, from Rp 6.83 billion in the same period in 2013 to Rp 27.1 billion. Even in the last three years (2010-2013), the Company's revenues grew consistently from Rp 187.618 billion to Rp 425.861 billion (126.98%).
Results of AGMS
Jakarta, June 10, 2014, NI held the Annual General Meeting of Shareholders (AGMS), including the decision of the Company’s Net Income using in the fiscal year ended December 31, 2013. In AGMS is also approved the actual use of the Limited Public Offering (LPO) I, as well as the approval of changes in the use of funds from the implementation of Warrant Series I.
In the AGMS also agreed the changes of the Company's board of management, specifically the replacement of directors (BOD). The composition of the new BOD as follows: President Director Ramdani Basri, Director Danni Hassan, Director John Scott Younger, and Director Ridwan Irawan. While the old BOD as follows: President Director Ramdani Basri, Director Danni Hassan, Director John Scott Younger, and Director Arsianto Poerwanto.
President Director of NI Ramdani Basri said that in addition to the AGMS, on the same occasion, NI also held the EGMS (Extraordinary General Meeting of Shareholders). In the EGMS is discussed the approval of the Employee Stock Option Program (ESOP) and Management Stock Option Program (MSOP).
The EGMS also discuss the approval granting to the company to get a loan from the lender, including offers some or all of the assets of the company. Approval of the loan will be the tools for management to apply for loans to other parties.
Business Tower
NI also successfully increased the Company’s total assets significantly after the completion of the acquisition of PT Tara Cell Intrabuana on February 2014. This positive corporate action raised the assets by 28.4%. The total assets of Rp 2.57 Trillion in the end of 2013, while to Rp 3.3 Trillion in the first quarter of 2014.
Tara Cell is an independent Indonesian telecommunication tower company that owns and operates the towers and other supporting facilities in Sumatra, Java, and Batam Island. NI acquired the shares of Tara Cell through its subsidiary, PT Telekom Infranusantara who took Providence Equity.
Danni Hasan as Director of NI explained that the telecommunications industry is growing well and will continue to grow in line with Indonesia's economy that now ranks 10 of the world. The tower sector is targeted to contribute 25% of the company's total revenue.
