JAKARTA: PT Fastfood Indonesia Tbk, the owner of fast food restaurant Kentucky Fried Chicken plans to issue IDR300 billion bonds, aiming to expand its business and settle its debt maturing until next year.The IDR200 billion-IDR300 billion issuance will be realized in September 2011, said Fastfood Indonesia Finance Director Justinus D. Juwono.The company has appointed PT OSK Nusadana Securities Indonesia as the underwriter. This bond has five years maturities and will be issued in September, he said yesterday.Justinus explained that the company has allocated IDR290 billion to establish new outlets this year, yet, the internal cash is not sufficient to cover up such needs.The company only prepares around IDR50 billion-IDR90 billion, generated from internal cash and while the remaining derived from bonds issuance.Based on the financial report as per 31 December 2010, Fast Food had IDR127.91 billion bank debt with IDR1.24 trillion equity. Debt to equity ratio was 0.1 times.Supposes the company issues IDR200 billion-IDR300 billion bonds, then the debt equity ratio will reach 0.27 rimes. The company still has plenty spaces to increase its debt.Revenue targetFurther, he explained that the management targets 15% revenue growth as well as 7%-8% net income this year, compared to last year.The company has utilized IDR125 billion capital expenditure in the first half of 2011 or equals to 46.3% out of this year allocated capex at IDR270 billion.Based on the financial statement as per 30 June 2011, the net income soared by 37.10% to IDR99.93 billion compared to the same period last year at IDR72.93 billion.The net income jump was backed by 11.02% sales jump as per June, amounting to IDR1.54 trillion compared to the same period in earlier year at IDR1.38 billion.The cost of goods sold rose by 8.59% to IDR667.14 billion compared to the same period last year at IDR614.35 billion.Operating income reached IDR124.62 billion or soared by 41.42% compared to the same period last year at IDR88.11 billion. Earnings per share was IDR224 compared to the same period last year at IDR163.On the similar occasion, Director of PT OSK Nusadana Securities Indonesia, Mardi Sutanto said that the bond issuance is still being processed and probably the value will be higher.The issuance process is still ongoing and for now, it values IDR200 billion or more, he said. Mardi said that OSK Securities will handle IDR800 billion-IDR1 trillion bond issuance in the near future. (03/15)(t02/msw)

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