GOLDEN ENERGY (SMMT) Targeted 30% revenue growth

GOLDEN ENERGY (SMMT) Targeted 30% revenue growth, JAKARTA –During 2013 PT Golden Eagle Energy Tbk (SMMT) targeted revenue growth by 30% from 2013 revenue amounted to Rp36,16 bilions.

The net income is targeted to grow approximately 25%-30% from prior year’s net income Rp16,82 billion.

President Director SMMT Hendra Surya said that the Company’s target production is 3 million ton. This year PT Triaryani, a coal mining company has commercially operated.

Other than PT Triaryani, the Company also own PT Internasional Prima Coal (IPC) which manage coal mining in East Kalimantan.

This year, SMMT allocates capital expenditure (capex) amounted to US$27-30 million.  The source of fund is from the Company’s internal cash. This year’s capex allocated for business development, including development of coal trading business.

Even so, coal trading sector has not contributed to this year’s income. At least the sector will contribute next year.

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