PLN hopes to hedge 20% of yearly investment needs

State-owned electricity firm PLN is aiming to hedge almost a quarter of its yearly investment to offset potential losses caused by exchange rate volatility, the firm’s senior executive has said.

PLN finance director Sarwono Sudarto said that his firm aimed to hedge 20 percent of the total funds needed by the company to finance its investments.

“Our needed investment reaches around US$7 billion each year and we want to hedge at least 20 percent of that,” he told reporters on the sidelines of a meeting of state enterprises’ finance directors on Monday.

The electricity company’s foreign exchange (forex) needs revolve at around $600 million per month.

read more

Posted August 6, 2015 by repit in News

%d bloggers like this: