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Indo Tambangraya prepares US$ 100 million for capex in 2019

30 November 2018 04:18 PM  Company: PT. Indo Tambangraya Megah Tbk[ITMG]
Rp. 17,075  +50 (0.29%)

JAKARTA - PT Indo Tambangraya Megah Tbk (ITMG) has prepared capital expenditure of US$ 100 million for 2019. The plan is that the capex will come from the company's internal funds.

"We currently have cash of up to US$ 300 million. So, probably our capital expenditure will be using internal cash,” said Yulius Gozali, Director of Indo Tambangraya as quoted from Kontan.

Around US$ 15 million to US$ 20 million of capex will be used for equipment purchasing. While the rest of will be used to invest in infrastructure.

For 2018, the company has prepared a capex of US$ 100 million. However, from this amount, the company only absorbed around US$ 45 million and is likely only US$ 70 million will be used by the end of the year. The remaining capital expenditure this year will be used to increase 2019 capital expenditure (LM)

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PT. Indo Tambangraya Megah Tbk [ITMG]   Rp. 17,075   +50 (0.29%)