Languages Available

Ancora Indonesia Resources aims for a revenue of US$ 150 million

10 January 2019 10:26 AM  Company: PT. Ancora Indonesia Resources Tbk[OKAS]
Rp. 0  -150 (0%)

JAKARTA. PT Ancora Indonesia Resources Tbk (OKAS) aims to get a revenue of US$ 140 million to US$ 150 million this year.

President Director of Ancora Indonesia Resources, Rolaw P. Samosir, is optimistic that the company will reach that target due to an increase in production and sales of ammonium nitrate (AN). "For the price, there is some increase, although it is not too significant," he explained to, Wednesday (9/1).

Meanwhile, they aim for an EBITDA of US$ 17.5 million to US$ 19 million. To achieve this target, OKAS tries to maintain the stability of the production and sales of AN. This year, OKAS has prepared a capital expenditure of US$ 3.5 million obtained from the company's internal cash.

The capital expenditure will be used to support the activities of the company's subsidiary, PT Multi Nitrotama Kimia (MNK), in addition to increasing AN production and sales, OKAS is still making preparations to work on the gold mine. "For licensing, it is in the process, we already got one from ESDM yesterday, all that's left is to wait for the approval of the Investment Coordinating Board (BKPM)," he explained. (AM/AR)

Related News
PT. Ancora Indonesia Resources Tbk [OKAS]   Rp. 0   -150 (0%)