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Kimia Farma cuts 2020 capex to Rp 547 billion

22 April 2020 16:30

JAKARTA - PT Kimia Farma Tbk (KAEF) decided to cut this year's capital expenditure budget to Rp 547 billion. Previously, the company budgeted capital expenditure of Rp 1.98 trillion.

The capex reduction was carried out to improve the company's performance amid pressure due to the Covid-19 pandemic. "The capital expenditure budget was reduced by Rp 1.442 trillion from Rp 1.989 trillion to Rp 547 billion," said Kimia Farma President Director Verdi Budidarmo as quoted from Bisnis.

For information, the company's capex continues to increase in the 2017-2019 period. In 2017, KAEF capex was recorded at Rp 788 billion, then in 2018 it soared to Rp 1.35 trillion and in 2019 climbed again to Rp 2.53 trillion. (LM)

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