Telecommunication operator Smartfren (FREN), controlled by Sinarmas Group, plans to issue mandatory convertible bonds (MCB) worth Rp1.4 trillion in the fourth quarter of this year, used to fund its capital expenditure (capex) of Rp2 trillion this year. FREN also targets its revenue to grow by 32% this year. In 2016, FREN booked revenues of Rp3.64 trillion, a 20.53% rise from previous year. But it suffered loss of Rp1.97 trillion, widened from loss Rp1.56 trillion last year.
