Dwi Aneka Jaya Kemasindo, a listed packaging company, announced it has postponed its plan to purchase one packaging company and one retail stationary company until 2016 due to current weak economic conditions. Earlier this year, Dwi Aneka Jaya Kemasindo had been in talks to acquire the packaging company for a price of IDR 125 billion (USD $8.6 million) and the retail stationary company for IDR 225 billion (USD $15.5 million).
Wahyu Rahmad Hidayat, Finance Director at Dwi Aneka Jaya Kemasindo, said that the delay does not mean that the company is considering to cancel the acquisitions.
Earlier this month, Dwi Aneka Jaya Kemasindo secured IDR 2.2 trillion (USD $152 million) worth of loans for the construction of a corrugated carton factory in Subang (West Java), for debt restructuring, as well as for this year’s capital expenditure (capex) and working capital.
Stock Quote Dwi Aneka Jaya Kemasindo - DAJK:
Stock Performance Dwi Aneka Jaya Kemasindo (DAJK) versus Jakarta Composite Index (JKSE):*
* normalized stocks, 14 May 2015 = 100