VIVAnews - PT Berlian Laju Tanker Tbk (BLTA) may try to merge with PT Arpeni Pratama Ocean Line Tbk (APOL) in 2009.
An anonymous VIVAnews source said the company is planning to fuse with APOL to anticipate the application of the cabotage principle, which will be put into effect by early of next year. "It is reported that both parties are negotiating with each other to take the action," said the anonymous source in Jakarta on Friday, March 20.
Director and Corporate Secretary of Berlian Laju Tanker, Kevin Wong, said as confirmed that the company will carry out action that will benefit the company as well as improve issuer's income.
"Therefore, let the public decides. The point is that we will proceed with what is best for the company and share owners," he told VIVAnews in Jakarta, last week.
Per 31 January 2009, Citibank Singapore S/A CBSG-CDP-Indonesia owned BLTA-codedshares by 13 percent while PT Tunggaladhi Baskara-2 possessed shares by 53 percent. The remaining shares were owned by the public.
On Friday trade, March 20, BLTA share improved by Rp 40 at Rp 540. PD-coded broker PT Indo Premier Securities was listed as one of the brokers that mostly collected Berlian Laju shares.
Capital market analyst Teguh Ramadhani said if the merger occurs, there will be quite a strong synergy in the business. "It will surely affect both issuers' shares in the stock exchange," he said.
Up until the third quarter of 2009, the company managed to gain profits by Rp 5.05 trillion (US$432.2 million) or a growth of 88.43 percent compared to same period in 2007 with Rp 2.68 trillion (US$229.2 million).
In addition, net profits increased by 236.4 percent to Rp 1.75 trillion (US$149.7 million) from Rp 519.11 billion (US$44.4 million).
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Translated by: Bonardo Maulana Wahono
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