Samudera Indonesia prepares US$ 50 million for capital expenditure

22 February 2021 07:31

JAKARTA - PT Samudera Indonesia Tbk (SMDR), a shipping service company, is preparing a capital expenditure (capex) of US$ 50 million. This was conveyed by Farida Helianti Sastrosatomo, Compliance Director of PT Samudera Indonesia Tbk (SMDR) in an information disclosure quoted on Monday (22/2).

However, she did not mention the source of funding for the capital expenditure. "The company has a better profit target this year compared to 2020," she said.

As of September 2020, SMDR posted revenues of US$ 362.09 million, up from US$ 319.30 million in the same period in 2019. Gross profit and net profit were US$ 48.11 million and US$ 8.26 million, respectively. While in the same period in 2019, gross profit was US$ 42.04 million and net loss of US$ 34.11 million.

In addition, Farida said that its affiliated companies received funding of US$ 90 million from MUFG Bank and the Development Bank of Japan for refinancing the Tangguh Towuti LNG carrier, the Papua LNG route. The affiliated company is LNG East-West Shipping Company (Singapore), Pte, Ltd. (LK/LM)

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