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Blackstone Took Part in Humpuss' Big Plan

Shipping firm PT Humpuss Intermoda Transportasi recently restructured and plans the a giant moves.

Humpuss, a unit of Humpuss Group controlled by Tommy Soeharto, escaped bankruptcy last year after its debt settlement proposal was approved by creditors. Under the approved debt settlement, the company restructured the payment of Rp 2.5 trillion in debt, of which as much as Rp 1.4 trillion will be paid through a debt-to-equity swap.
Humpuss™ assets were worth Rp 3.3 trillion as of the end of July, finance director Budi Haryono said. Shares in Humpuss, which are traded on the Indonesia Stock Exchange under the code HITS, were unchanged at Rp 335 on Thursday, the same price since May 20.Humpuss™ stock price under normal circumstances once reached Rp 1,000.
The company is targeting an around 25 percent increase in revenue this year, from Rp. 489 billion reaped in 2012. During the first seven months of the year, the company earned Rp. 382 billion in revenue, a 15 percent increase from the Rp. 332 billion in the same period last year. Its net profit stood at Rp. 9 billion in the first seven months of the year, an improvement on its Rp. 41 billion in net loss in the same period last year.
Humpuss appointed Blackstone as Strategic Intelligence and Integrated Digital Operation Agency of the record. Work with HITS, the objectives is more than perfect content, visual design or increase brand visibility and generate digital footprint. Its about challenges, experiences, higher corporate value deliverable, stronger capabilities and reputation.
“It’s rare to find an agency that brings such an interesting, innovative idea to the table but then also knows how to design and engineer the product.”
— Okty Saptarini, Corporate Secretary, Humpuss.
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