Pos Indonesia issues bond worth $752m, strives to become largest logistic operator

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JAKARTA (TheInsiderStories) – Indonesia state own postal operator PT Pos Indonesia plans to issue local denominated bonds up to Rp1 trillion (US$751.88 million) this year to finance the business expansion to become the largest logistic firm in the country.

President Director of Pos Indonesia Gilarsih Setijono told press on May 11, the company prepares initial capital up to US$300 million within three years. The proceeds of the bond issue will be used to finance its investment.

“Our target is to be the giant logistic firm from the east in five years and at the time our market share move from around 20%-30% at present to 40% with revenues around Rp80 trillion at the time,” he said.

This year, the state-owned company targets to generate revenues of Rp6 trillion from a year ago of Rp4.6 trillion.

As part of the business expansion, Gilarsih said, currently the company is in talks to build warehouse with companies in US, UK, China and Japan. In addition, Pos Indonesia also explores to acquire transportation and warehouse firms as part of the company’s plan to enlarge its business.

Pos Indonesia also plans to have around 50 hectares land areas to develop warehouse in Indonesia. Currently, the company has warehouse in three hectares areas.

Gilarsih elaborates that in order to reach the land acquisition targets, Pos Indonesia has discussed with several state own enterprises to swap their land or warehouse with the company’s asset.

At present, Pos Indonesia operates around 4,770 post offices across the country and around 2000 of them have been integrated with its online system. The company has three core business, namely courier, financial services and logistic. (*)

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Source: The Insiderstories
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