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    November 2017, Pindad Books Profits

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    BANDUNG-Responding to the news about the list of state-owned enterprises that lost until the third quarter of 2017, one of which mentioned Pindad, PT Pindad (Persero) clarified that true until the third quarter is still a loss but in the fourth quarter Pindad has posted a profit per November 2017.

    President Director of PT Pindad, Abraham Mose explained pindad can ensure that the company's finances have been positive until November 2017. In the third quarter Pindad condition is still losing because it can not book as sales due to technical problems to the product to be in-delivery.

    "So far the figure is still in the audit process but it is certain that the company's finance has been positive until November of 2017," Abraham told reporters in Bandung, Friday (8/12/2017)

    The development of Pindad from time to time is progressive, one of which is the development of small caliber munitions production line whose current production capacity of 165 million units per year will be increased to 275 million units per year by 2019 using government-provided PMN funds.

    Abraham appreciated public trust in the company's performance, one of which was proven through the issuance of Medium Term Notes (MTN) worth 1 Trillion Rupiah which was absorbed in a short time. The result is excellent with a single A minus rating that has been exhausted by investors within 2 weeks even oversubscribed. MTN will be used as working capital and investment.

    Pindad will continue to improve the quality and develop various product innovations to support the fulfillment of defense equipment and industrial products. "This is certainly an effort Pindad improve financial performance to achieve the target company," he concluded (MAT)

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