JAKARTA - PT Siantar Top Tbk (STTP) has budgeted capital expenditure (capex) of Rp 442.8 billion this year. Most of the capex will be used to pay off maturing bonds.
STTP Director Armin said the capex is sourced from the company’s cash and profit. The capex allocation is a 6.19% increase from the 2018 allocation of Rp 417 billion.
“We have prepared capex of Rp 442.8 billion this year. Last year we budgeted Rp 417 billion,” Mr Armin told Bisnis.com, Tuesday (26/2).
For this year, STTP is eyeing sales growth of 10%-15%. Mr Armin is optimistic the target will be achieved in line with the company’s plan to launch 10 to 20 new products this year. (MS)