Mitra Pinasthika allocates IDR 700 billion to capital expenditure
JAKARTA – PT Mitra Pinasthika Mustika Tbk (MPMX) sets the capital expenditure (CapEx) budget to IDR 700 billion this year, which will be spent on new cars in respect to the rental car upgrade plan and other digital initiatives. Up to Q1 2022, the realisation of this allocated CapEx has reached 25%-30%.
Ivan Hindarko, Director of Mitra Pinasthika Mustika, claimed that 10%-15% of the total CapEx is allocated to the digital technology sector in order to support the future performance of this corporation. “It will be distributed to our digital initiatives,” he added in the public expose quoted Monday (23/5).
According to Hindarko, one of the digital initiatives of MPMX is the establishment of the Smart Dealer Management System, a distribution and retail business connected to the purchase, service, and after sales application.
The remaining of the budget will go to the MPMRent division in order to upgrade its rental cars. At the end of the first quarter of 2022, the number of rental cars clock up to 12,200 units, with a 95% utilisation rate.
The company’s revenue in December 2021 totalled to IDR 12.90 trillion, up by 15.4% from the same period in 2020 of IDR 11.18 trillion. The gross profit rounded up to IDR 1.19 trillion, 14.1% higher than IDR 1.04 trillion in 2020, while the net profit reached IDR 411.74 billion, proliferating as high as 208.3% year-on-year (yoy) from IDR 133.57 billion. (LK/ZH)