Adi Sarana to add 5,500 vehicles into logistics fleet

Adi Sarana to add 5,500 vehicles into logistics fleet
Adi Sarana to add 5,500 vehicles into logistics fleet

PT Adi Sarana Armada Tbk (ASSA) budgeted capital expenditure or capital expenditure (capex) worth Rp 1.2 trillion this year. The capital expenditure will be used to support business expansion in the form of new fleet additions, expansion of auction business and logistics.

JAKARTA (infolog): Hindra Tanujaya, Director of Adi Sarana Armada, explained that as much as 70% to 75% of capital expenditure budget this year is used for vehicle purchases. While the rest for the expansion of auction house business and logistics.

This year the issuer coded ASSA shares in Indonesia Stock Exchange (IDX) is planning to buy as many as 5,000 units to 5,500 units of vehicles.

“The type varies from passenger and commercial vehicles,” said Hindra, Monday (30/4) as quoted by as saying.

ASSA was recorded to have 21,000 units of vehicles. In details, 90% is a passenger vehicle and the remainder is commercial. If the fleet surplus target is realized, by the end of 2018 the number of vehicles owned by ASSA will increase to 23,000 units.

For the auction house business, this year ASSA will have additional areas and frequencies. Even in the future, the auction business will be developed not only for cars but also for motorcycles.

The number of ASSA auction centers operating today is spread across 11 areas in various major cities. Among them are Jakarta, Medan, Pekanbaru, Palembang, Semarang, Surabaya, Pontianak, Balikpapan and Banjarmasin.

Jany Candra, Director of Adi Sarana Armada, said that the contribution of auction business is still under 5% of total ASSA’s revenue. “We can only book as revenue from total commissions,” said Janny.

With various expansion plans undertaken, this year ASSA targets revenue to grow 10%. Meanwhile, for the increase in net profit this year, ASSA set a target increase of 25% to 30%.

Optimism achievement of this good performance due to several things.

First, the trend of selling price of used cars is still improving.

Secondly, Indonesia’s macro economic condition is still good.

Third, the expansion of the auction hall is expected to increase bottom line performance.

As of the first quarter of 2011, ASSA’s revenue amounted to Rp 450.83 billion. This number increased 9.75% over the same period the previous year as much Rp 410.92 billion.

Related net income, ASSA managed to incise as much as Rp 41.09 billion. The achievement was up 86.3% over the same period the previous year, amounting to Rp 22.9 billion. (ac)

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