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Unilever spends Rp1.45 trillion on oleo chemical plant

24 June 2013 08:27 AM  Company: PT. Unilever Indonesia Tbk[UNVR]
Rp. 42,575  -900 (-2.07%)

JAKARTA - PT Unilever Indonesia Tbk (UNVR) is certainly conducting groundbreaking of its oleochemical plant in the Special Economic Zone Sei Mangkei, North Sumatra on June 28, 2013.
Coordinating Minister for Economic Affairs Hatta Rajasa will be invited in the groundbreaking ceremony.

Head of Capital Placement and Investment (CEW) of North Sumatra, Purnama Dewi, said Unilever’s investment in Sei Mangkei will certainly be realized.

“They will be ground breaking on June 28 and Hatta Rajasa will perform the ground breaking ceremony. In the schedule, Hatta Rajasa will go to Sei Mangkei first before visiting Kuala Tanjung," he told Indonesia Business Daily.

He explained the whole licensing construction process of the plant has been completed. Several permits involving provincial and district governments are realized in conjunction with the construction of the plant.

"So it's not oleochemical plant failed. However it was delayed due to the replacement of the status of the right to cultivate land (HGU) are entitled to another (HGL). Investment is recorded as foreign direct investment (FDI). Added up to around Rp1, 45 trillion, "he said.

Commissioner of PT Unilever Oleochemical Indonesia Sancoyo Antarikso said it allocated a capital expenditure totaling Rp1.45 trillion for the purchase of land and construction of oleochemical plant.

On March 5, 2013, the company has signed a conditional sales agreement on M, N, R and S lot with PT PTPN III as manager of the Sei Mangkei SEZ for a total of 18 hectares.

Dividends Pay-off

As reported earlier, Unilever Indonesia will distribute a final dividend of Rp2.55 trillion with the value of Rp334 per share.

Sancoyo Antarikso, Corporate Secretary of Unilever Indonesia, said the proposed final dividend is 52.7% of the total attributable net profit which is around Rp4.84 trillion. "Dividend payment date has been scheduled on July 16, 2013," he said.

The Company has distributed an interim dividend to the shareholders with the value of Rp300 per share at the end of last year, bringing the total dividend for the financial year of Unilever Indonesia in 2012 reached Rp634 per share.

The Company allocated overall net profit Rp4.84 trillion in 2012 for the payment of dividend and final dividend and intern dividend. Over the last year, the company booked sales growth reached 16.34% to Rp27.25 trillion from Rp23.47 trillion in 2011.

In March 2013, Unilever Indonesia has raised the selling prices an average of 4% -5% due to rising input costs and as one of the options facing inflation after subsidized fuel prices hike.

Director of Unilever Maurits Lalisang said the company has set up some strategic steps, such as the efficiency of the company's internal financing in anticipation of subsidized fuel price-hike. "This step is important because the financing on this post is about 2.5% of the total financing," he said.

Even so, he said, the overall inflation impact will not significantly affect the company's performance,citing by Bisnis Indonesia.

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PT. Unilever Indonesia Tbk [UNVR]   Rp. 42,575   -900 (-2.07%)