Corporindo counts its cash

Indonesian fuels and chemicals distributor AKR Corporindo expects to close its 2011 books with revenues of around IDR 18.5tr ($2bn). “We are still calculating it,’’ finance director Suresh Vembu told the Jakarta Globe, adding that the company expects to finish 2012 with even higher revenues in the region of IDR 22tr. “The driving factor in the rise in the company’s revenue is the rising purchasing power of Indonesians,” he explains. It is understood from other sources that Corporindo plans to spend around IDR 1.3tr this year completing an ongoing terminal project begun in 2010. A further IDR 300bn has also been earmarked for a number of other construction projects that will support its distribution business.

www.akr.co.id