PT Logindo Samudramakmur Tbk (“Company”), a corporation engaged in shipping with focus on provision of off shore support vessel (“OSV”) for the oil & gas industry, adds to its fleet of vessels by purchasing another unit AHTS DP2 system with 8,000 hp capacity. President Director of the Company, Eddy K. Logam explains “the purchase of the vessel from Singapore this month is to support our expansion program and in line with the growing current market demand. With this addition, our fleet of OSV vessels has become 60 units.”
70% funding of the purchase of AHTS vessel costing around US$ 17 million, has been secured by financing from UOB Bank Singapore through a long term 5 year USD bank loan. While the balance 30% is funded from internal company capital. The structure of the funding is consistent and in line with the Company’s financing policy, and considered to be cost-effective to support operational activity and cash flow of the Company.
Meanwhile, the Company’s financial performance for the year 2013 is expected to grow significantly compared to the previous period. Chief Financial Officer (CFO) , Sundap Carulli, states “based on our in-house financial statement, Company’s revenue for 2013 achieved USD 59 million or 73% higher than previous year. And for net profit amounted USD 16.5 million or an increase by 86% from 2102. At this moment, our books are still being audited by KAP Purwantono, Suherman & Surja (Ernst & Young) and we expect the audited financial statements to be issued in early March.”
About PT Logindo Samudramakmur Tbk.
Since the Company formation in 1995, PT Logindo Samudramakmur Tbk has a vision to lead the revival of maritime industry by providing the best solution with integrity. Throughout its journey, type and size of the Company’s fleet grew significantly. Today, PT Logindo Samudramakmur Tbk owns and operates a diverse fleet of 60 vessels such as : Anchor Handling Tug and Supply Vessel, Platform Supply Vessel, Azimuth Stern Drive Tug, Diving Support Vessel, Accommodation Work Barge, Landing Craft Transport, and so on, which will be continuously rejuvenated in a sustainable manner. The Company officially listed its shares on the Indonesia Stock Exhange on 11 Desember 2013.
For more information, please contact :
PT Logindo Samudramakmur Tbk.
Graha Corner Stone
Jl. Rajawali Selatan II No. 1
Jakarta Pusat – 10720
Phone : +62 21 6471 3088
Fax : +62 21 6471 3220
Attention : Corporate Secretary / Investor Relation
Email : email@example.com
Website : www.logindo.com
Komp. Balikpapan Baru Blok G1 No. 7
Balikpapan, Kalimantan Timur – 76114
Phone : +62 542 872 090
Fax : +62 542 876 963