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Bukit Asam prepares Rp 6.47 trillion capex for project development

08 March 2019 05:49 AM  Company: PT. Bukit Asam Tbk[PTBA]
Rp. 2,760  -50 (-1.78%)

JAKARTA - PT Bukit Asam Tbk (PTBA) prepares capital expenditure (capex) of Rp 6.47 trillion which will be used for the development of major projects and routine investments.

PTBA President Director Arviyan Arivin revealed, this year the company is preparing a capex of around Rp 6 trillion. In which, most of the capital expenditure is for the development of PTBA's main projects. He also targets 2019 coal production to grow by 10% from last year's achievement of 26.17 million tons, up 8%.

PTBA Corporate Secretary Suherman explained, the total capex planned for 2019 was Rp 6.47 trillion. Later, the funds will be used for routine investments such as equipment replacement for operations. While the development investment is intended for business development projects, Suherman said to Kontan, Wednesday (6/3).

He hopes that for 2019 both profits and revenues will be higher than last year's achievements. But Suherman is still reluctant to mention the numbers until the annual financial report is released. 

As an illustration, from January to September 2018, PTBA posted revenue growth of 21% to Rp 16.03 trillion. The increase resulted in an increase in PTBA's net profit by 50% to Rp 3.93 trillion from the same period previous year. (AM/LM)

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PT. Bukit Asam Tbk [PTBA]   Rp. 2,760   -50 (-1.78%)