Solo, November 6, 2017: The addition of the company's capital without giving preemptive rights or private placement aims to strengthen the capital structure and liquidity so as to support the sales growth of 12% and net profit growth up to 15% .
PT Sri Rejeki Isman Tbk. Iwan Setiawan Lukminto appreciated the decision of the Extraordinary General Meeting of Shareholders and explained that the additional capital without giving preemptive rights in accordance with the management program of PT Sri Rejeki Isman Tbk. "Through the additional capital without giving preemptive rights or private placement, the company will get additional fund to strengthen the capital structure that will eventually support the company's business and subsidiaries," said Iwan. Through this private placement, the company will increase the number of shares as much as 10% of the total issued and paid up capital, or about 1.859 billion shares with the minimum price of New Share of Persisoran amounting to Rp354 per share.
The New Share Price of the Company in the private placement is determined based on the average closing price in the period of August 22 to September 27, 2017. So that the total funds to be obtained reaches about Rp658 billion. Investor Update Reports of companies issued some time ago stated that the company's net profit value until the third quarter of this year increased by 14% from US $ 41.3 million to US $ 47.2 million compared to the same period last year; while its operating profit until the third quarter of this year also increased by 25% from US $ 79.6 million to US $ 99.1 million.
The increase in the company's sales was triggered by increased sales of its products for yarn, fabrics and garments which increased by 9%, 26% and 20% respectively until the third quarter of this year. "PT Sri Rejeki Isman Tbk focuses on selling high-value products; while for spinning industry sector more focused to fulfill internal requirement of company for production of cloth and garment order, "explained Iwan. He said that the contribution of sales value of textile and garment products to the third quarter of this year contributed 52% of total sales value; the contribution of PRESS RELEASE 2017 2 is increased when compared to the same period of the previous year which was only about 49%.
"The company's capital expenditure until the third quarter of this year reached US $ 22.8 million, this figure is in line with the company's target which totaled US $ 25 million for 2017," he explained. The company's positive performance has so far managed to record two international ratings each from Fitch with BB- / Stable and from Moody's with B1 / Positive value. While Fitch Indonesia gives an A + / Stable rating for the company. * * * About PT Sri Rejeki Isman Tbk: PT. Sri Rejeki Isman Tbk. (SRIL) is a national one-stop textile and garment enterprise, with 4 main production processes: spinning, weaving, finishing, and garment. PT Sri Rejeki Isman Tbk, founded by the late HM Lukminto in 1966, has facilities located in Semarang and Sukoharjo, Central Java. SRIL has customers spread all over the world in Asia, Europe, America, Australia, Middle East, and Africa. SRIL is listed on the Indonesia Stock Exchange in 2013 and is the only textile company listed on LQ45. The Company is also included in IDX 30 announced in January 2017 and awarded as one of The IDX Top Ten Blue 2016 on recognition of SRIL's share performance based on liquidity, growth and shareholders depth.the performance of SRIL shares based on liquidity, growth, and shareholders depth. http://www.sritex.co.id
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