Mandom Has Remaining Rights Issue Proceeds IDR13.170 Bn ;
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Wednesday, 18 April 2007 15:25:06
StockWatch (Jakarta) - Cosmetics manufacturing company PT Mandom Indonesia Tbk
(TCID) during the period of January 2006-March 2007 still kept the remaining
proceeds of the company's second rights issue, with value of IDR13.170 billion.
Corporate secretary Kazue Junus said in a report to the Capital Market
Supervisory Board (Bapepam) the company still kept the remaining proceeds of
rights issue for it had used only IDR74.444 billion of the total proceeds,
while earlier the company expected to use IDR87.947 billion.
Based on the previous plan, approximately 77.98% of the total proceeds of the
rights issue or IDR68.579 billion would be used for financing the construction
of building and the rest about 22.02% or IDR19.368 billion for purchasing
machines.
In fact, the company only spent IDR54.590 billion on the construction of
building, so it was able to save IDR13.989 billion.
However, the cost for purchasing machines was IDR20.187 billion or higher than
IDR0.819 billion based on the previous plan.
Mandom Indonesia raised IDR90.480 billion from the company's rights issue in
2006. After reduction by the emision fee of IDR2.533 billion, the company
attained net proceeds of IDR87.947 billion from the rights issue. (abr/bud)
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