PT AKR Corporindo Tbk., (AKRA), Indonesia’s largest private sector Petroleum and basic chemical distributor, listed on Indonesia Stock Exchange, reported 33% growth in Sales revenue of Rp 5,221 billion, driven by increase in Petroleum Sales revenue which increased 57% during the six months ended 30th June 2010 compared to the same period last year.
Net profit after tax during the 1H 2010 of Rp 140.8 billion is 27% higher than Rp 110.5 billion during 1H’2009.
AKRA which supplies High Speed Diesel, Fuel Oil and other refined petroleum products to Mining, Power, bunker and industrial establishments, from its extensive network of 15 terminals in Indonesia, reported Petroleum sales volume of 551,900 KL during the 1H’2010, representing volume growth of 27% YOY.
Improving consumer demand in Indonesia also resulted in 26% growth in volume of Basic chemicals distributed during the 1H 2010 compared to 1H’2009
Vopak Terminal Jakarta is a strategic infrastructure project in Jakarta port and will provide international standard terminal facilities for various participants interested in the deregulating Indonesian petroleum downstream sector. The terminal’s location in Tanjung Priok Port of Jakarta is strategically located to serve the large market of Jakarta, Banten, and West Java. The location of Vopak Terminal Jakarta allows its customer to benefit from the short delivery times to retail stations and industrial end users in the greater Jakarta area. In addition, it offers reloading facilities to sea-vessels, for delivery of oil products to other parts of Indonesia.
The terminal is built over a land area of over 12.8 hectares and has a storage capacity of 250,800 cubic meters. The facility has been designed and constructed in compliance with the highest Health, Safety, Security and Environmental standards and with high levels of integrated automation. The terminal’s storage capacity can be expanded to 450,000 cbm in the future, depending on market demand. Key elements in distribution of fuels are the optimization of both marine imports and onward truck and barge distribution. Vopak Terminal Jakarta is designed with exactly those elements in mind. Its marine and jetty infrastructures align perfectly with the main cargo deliveries from Singapore and the region. Vopak Terminal Jakarta is a joint venture project of Royal Vopak and PT AKR Corporindo TBK.
After its recent opening, Vopak Terminal Jakarta received the first cargo of diesel on 11 June 2010.
The terminal in Tanjung Priok, Jakarta’s main seaport, is a joint venture between PT AKR Corporindo Tbk (51%) and Royal Vopak of the Netherlands (49%). The terminal is independently operated by Royal Vopak.
The arrival of the first cargo is significant for this first independent import and distribution terminal for oil products in Jakarta. It will support the storage and distribution needs of the Indonesian and international oil industry. The facility has been designed and constructed in compliance with the highest Health, Safety, Security and Environmental standards and with high levels of integrated automation.
Cash Dividend payout of Rp 25 per share was approved by the Annual General Meeting of PT AKR Corporindo Tbk., which was held on 4th May 2010.
PAYOUT RATIO : 34.43%
Shareholders of the company approved payout of 34.43% out of the Net profit of the Company for the year 2009; the total amount of dividend which will be paid to shareholders is Rp 94.59 billion from the Net profit after tax of Rp 274.7 billion. This is in line with the Company’s payout of cash dividend of over 30% of its net profit over the past 6 years.
RECORDING DATE : 31ST MAY 2010:
the Recording date for the Dividend payment is 31st May 2010; Subject to the approval of the Indonesian Stock Exchange the Company is expected to pay the dividend to eligible shareholders who appear in the Shareholder list as on recording date on 14th June 2010.
Other resolutions passed during the AGM, include approval of the Annual report of the Board of Directors and audited financial statements for the year 2009, the appointment of the external auditors for auditing the Company’s financial statements for the financial year 2010 as well as matters related to the delegation of powers to amend the Articles of Association related to the Management Stock Option Plan (MSOP). The above is a rough summary of the matters discussed and is provided for information purposes only. The official transcript of the meeting will be published in Bahasa Indonesia and filed with the Stock Exchange and Bapepam in due course. Please refer to the same. Regards
PT AKR Corporindo Tbk., (AKRA), Indonesia’s largest private sector petroleum and basic chemical distributor, listed on Indonesia Stock Exchange, reported sales of Rp 2,432 billion representing growth of 33% YOY. Net profit of Rp 70.2 billion during the quarter ended 31st March 2010 is 61% higher than same period last year. AKRA reported better performance in its basic chemical and petroleum distribution business driven by increasing demand for basic chemicals and petroleum in the Indonesian domestic market aided by better economic conditions and growing energy demand. Trading and distribution sales revenue grew 46% on the strength of higher volumes sold during the Quarter – Basic chemical volume grew 29% YOY while Petroleum sales volume recorded 36% increase –compared to same period last year. With higher oil prices, the Average selling price of Petroleum products was higher by 26% which contributed to higher sales revenue and improved margins
AKRA’s manufacturing subsidiary, PT Sorini Agro Asia Corporindo Tbk.,(AKRA.. 69.5%) reported lower net profits during the quarter, impacted by an appreciating Rupiah – Sorini is a leading exporter of Sorbitol and Starch derivatives to over 75 countries – and also increasing feed stock prices. Sorini reported Sales revenue of Rp 408 billion while its Net profit after tax decreased to Rp 30.2 billion during Q1’ 2010 from Rp 40.8 billion a year earlier.
Dear Shareholders of PT AKR Corporindo Tbk., The Board of Directors of PT AKR Corporindo Tbk., a company having its domicile in Jakarta (”the Company”) are pleased to invite the Company’s Shareholders to attend the Company’s Annual General Meeting of Shareholders that has been convened as per details given below : Day / Date : Tuesday, May 4th, 2010 Time : 15.00 WIB – Finish Venue : Indonesia Stock Exchange Building, Tower II, 1st Floor, Function Room, Jalan Jenderal Sudirman 52-53, Jakarta 12190, Indonesia.
• Vopak Terminal Jakarta in Indonesia officially opened for operation. • The terminal provides storage and distribution services to Indonesian and international oil companies, as Indonesia’s import needs continue to grow. • The total storage capacity of the terminal is 250,800 cubic meters.
Today the first independent import and distribution terminal for oil products in Jakarta, Indonesia has been inaugurated by the Coordinating Minster for Economic Affairs of the Republic of Indonesia, H.E. Ir. M. Hatta Rajasa and officially opened for operation by John Paul Broeders, CEO of Royal Vopak in the Netherlands, and Haryanto Adikoesomo, President Director of PT AKR Corporindo Tbk in Indonesia. The newly built terminal in Tanjung Priok will support the storage and distribution needs of the Indonesian and international oil industry.
Part of Vopak’s global terminal network The terminal has a storage capacity of 250,800 cubic meters (cbm) and enables the distribution of oil products in the greater Jakarta area. The facility has been designed and constructed in compliance with the highest Health, Safety, Security and Environmental standards and with high levels of integrated automation. The terminal is named Vopak Terminal Jakarta and will be part of Vopak’s global storage terminal network, which consists of 80 terminals in 31 countries. The terminal’s storage capacity can be expanded to 450,000 cbm in the future depending on market demand. Vopak also operates an import terminal for chemicals in Merak, which is located in West Java, Indonesia.
Support the growing economy The market in Indonesia holds great potential. The economy is growing at a healthy pace and since 2005 Indonesia has started to open up its oil market to private participation. Furthermore, Indonesia’s import needs for oil products continues to rise and the need for an independent terminal was felt. PT AKR Corporindo and Vopak recognized this opportunity and decided to make this infrastructure investment to support the growing import and distribution needs
The joint venture partners Royal Vopak is the world's largest independent tank storage service provider, specialized in the storage and handling of liquid chemicals, gasses and oil products. The company operates 80 terminals with a combined storage capacity of more than 28 million cbm in 31 countries. The terminals are strategically located for users along the major shipping routes. The majority of its customers are companies operating in the chemical and oil industries, for which Vopak stores a large variety of products destined for a wide range of industries. PT AKR Corporindo Tbk as the local partner is Indonesia’s largest private sector distributor of petroleum products and basic chemicals. AKR brings over 25 years of experience in operating terminals for bulk chemicals and petroleum products and has an extensive network of logistics facilities. AKR operates terminals in 14 locations in Indonesia with a total storage capacity of more than 500,000 cbm and serves customers in the industrial, mining, bunker and power sectors. PT AKR Corporindo Tbk is listed on the Indonesia Stock Exchange since 1994.
For more information PT AKR Corporindo Tbk. Suresh Vembu Director Telephone : +62 21 531 1177 E-mail : suresh.vembu@akr.co.id Website : www.akr.co.id
Royal Vopak Corporate Communication & Investor Relations Bas Rutgers Telephone : +31 (0)10 4002777 E-mail : corporate.communication@vopak.com Website : www.vopak.com
PT AKR Corporindo Tbk., ( AKRA) announces the success of the Rights Issue 2 for capital increase, approved by the Shareholders in the Extraordinary shareholders’ meeting ( EOGM) on January 21, 2010 with subscription of the Rights received from 99.9% of its shareholders totaling 626,992,320 shares out of the 627,658,500 shares offered under the Rights issue 2.
At the end of the Rights subscription period on 10th February 2010, as per schedule published in the Prospectus, the Company has received subscription for new shares and excess orders for over 733 Million shares which is 117% of shares offered under the Rights issue 2.
The Company is happy to announce that with the subscription and excess orders received until 10th February 2010, the entire shares offered in the Rights Issue will be fully subscribed at the close of the Rights Issue. The last date for receipt of funds for the excess order is 12th February 2010 after which the allotment of excess orders will be finalized.
In compliance with the subscription commitments, PT Arthakencana Rayatama (AKRT), majority shareholder has subscribed to all its Rights and currently AKRT owns 59.67% of the new share capital (Provisional).
We thank all the Shareholders, investors for participating in the Rights Issue and for the support and confidence in the Company.
CLSA acted as the International financial Advisor and Bahana Securities as the Domestic financial advisor to the Company for this Rights Issue.
PT AKR CORPORINDO TBK.,(AKRA), Indonesia’s largest private sector supply chain Company specializing in trading and distribution of Petroleum products, basic chemicals, through its subsidiaries the largest producer of Sorbitol and starch sweeteners in Asia Pacific, and logistics services announced record net profit of Rp 274.7 billion. This represents the highest Net Profit reported by the Company since it was listed on the Indonesian Stock Exchange and 31% higher than Rp 210 billion reported in 2008. Consolidated Sales revenue of Rp 8,960 billion during the year 2009, was due to strong growth in Petroleum volumes and stable volumes in basic chemicals, Sorbitol and starch sweetener business.
PT AKR Corporindo Tbk. (AKRA), received the prestigious Asiamoney award for Asia's Best Managed Companies 2009 Small-Cap Corporate, Indonesia for the year 2009 at a glittering ceremony held at Hotel Indonesia Kempinski, in Jakarta Indonesia, last night. This is the third year in a row that AKRA has been awarded by Asiamoney : in 2007, AKRA was awarded the Best Overall Managed Company in Indonesia, and in 2008, AKRA’s Mr Suresh Vembu received the Best Investor Relations Officer Award in Indonesia.
PT AKR Corporindo Tbk (AKRA) (Company), Indonesia’s largest Private distributor of Petroleum products and Basic Chemicals has entered a new era, in the retail distribution of subsidized fuel business on 1st January 2010: This is a historical event for the Company and also for the first time in Indonesian history, a private company has been allowed to distribute subsidized fuel in Indonesia.
PT AKR Corporindo Tbk (Incorporated as a company with limited liability under the laws of the Republic of Indonesia)
PT AKR Corporindo Tbk (the “Company”) has issued a Prospectus (as defined herein) in connection with the Rights Issue II (as defined herein) in Indonesia. This information memorandum (“Information Memorandum”) is confidential and has been prepared solely for use outside Indonesia for the purpose of providing information in connection with soliciting exercise of the Rights and in connection with sale of the Rights and Rights Shares (as defined herein). In connection with the proposed Rights Issue II, the Company is offering up to 627,568,500 new Shares (as defined herein) with a nominal value of Rp100 each (each, a ‘‘Rights Share’’) in the capital of the Company at a subscription price of Rp860 for each Rights Share on the basis of one Right Share for every five Existing Shares (as defined herein) held as at the Record Date (as defined herein).
The Rights Issue II was approved at the extraordinary general meeting of the shareholders of the Company on January 21, 2010, and is being implemented by the Company. Shareholders (as defined herein) who do not exercise their Rights (as defined herein) may experience a dilution of their shareholdings in the Company by up to 16.67%. Shareholders who hold scripted shares will be issued the Rights by the Company in the form of Rights Certificates (as defined herein) and Shareholders who hold scripless securities will be issued the Rights pursuant to a credit for such Rights, to their accounts maintained with a custodian bank or other members of PT Kustodian Sentral Efek Indonesia (the Indonesian Central Securities Depository) (‘‘KSEI’’).
The Company submitted a Registration Statement (as defined herein) in connection with the proposed Rights Issue to the Indonesian Capital Markets and Financial Institutions Supervisory Board (‘‘Bapepam and LK’’) on December 22, 2009. The Registration Statement became effective on January 21, 2010.
This Information Memorandum is an unofficial English translation of the Prospectus issued by the Company in Bahasa Indonesia on the Rights Issue II (as defined herein) conducted in the Republic of Indonesia and is provided by the Company for information purposes only. The Prospectus was prepared in accordance with the regulatory framework and disclosure practices of the Republic of Indonesia and neither the Company nor the International and Domestic Financial Advisors make any representation or warranty as to the accuracy or the completeness of this translation of the Prospectus. Each person receiving this Information Memorandum acknowledges that disclosure requirements and practices in the Republic of Indonesia, as in other emerging markets, differ significantly from disclosure requirements and practices in many European countries, the United States and other jurisdictions. Accordingly, each person receiving this Information Memorandum acknowledges that this Information Memorandum does not provide the level or type of disclosure that a prospective investor may require in connection with making an investment decision with regards to the Rights Issue II. In the event that a prospective investor would like to know more information about the Company and / or the Rights Issue II before making an investment in the Company, it would be advisable for such potential investor to read the Prospectus
Investing in the Rights Shares involves risks that are described in Section 3 — ‘‘RISK FACTORS’’ of this Information Memorandum.
The Rights and Rights Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the ‘‘U.S. Securities Act’’) or under the securities laws of any state or other jurisdiction of the United States and, unless so registered, may not be exercised, offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, the Rights and Rights Shares are being offered and sold, only pursuant to offers and sales that occur outside the United States in accordance with Regulation S under the U.S. Securities Act (“Regulation S”), and may not be offered, sold or delivered within the United States or to, or for the account or benefit of, US persons (as defined in Regulation S) except pursuant to an exemption from or in a transaction not subject to, the registration requirements of the U.S. Securities Act. The Rights, and Rights Shares are not transferable except in accordance with restrictions described under Section 14 — ‘‘Distribution and Solicitation Restrictions’’. This Information Memorandum has been prepared solely for use in connection with the offering and sale of the Rights or Rights Shares outside the United States pursuant to Regulation S.
This Information Memorandum is dated January 21, 2010.
AKR Corporindo Tbk., Investor Relations PT AKR Corporindo Tbk Wisma AKR 6th Floor Jl.Panjang No. 5 Kebon Jeruk Jakarta 11530 Indonesia Tel : 62-21-5311110 Ext. 724 Email : ashish.agrawal@akr.co.id
