JAKARTA - PT Temas Tbk (TMAS), a shipping company, prepares a capital expenditure (CapEx) budget of Rp 550 billion this year. The budget will be used for the rejuvenation of its fleet and the development of information technology (IT) infrastructure.
In its public expose published on Monday (29/6), Ganny Zheng, Director of PT Temas Tbk (TMAS) said that Rp 100 billion will be allocated for IT infrastructure development and the remaining Rp 450 billion will be used for fleet rejuvenation. "Part of the budget comes from internal cash and the rest comes from bank loans," he said.
This year, he said, TMAS will purchase six vessels to support its operations in 82 ports. In addition, it also plans to sell and cut (scrap) its unused vessels.
Zheng is optimistic that the company's profit this year will reach Rp 100 billion, quite stable compared to last year's record of Rp 100.6 billion. (LK/AR)