Samudera Indonesia prepares US$ 50 million for capital expenditure
JAKARTA - PT Samudera Indonesia Tbk (SMDR), a shipping service company, is preparing a capital expenditure (capex) of US$ 50 million. This was conveyed by Farida Helianti Sastrosatomo, Compliance Director of PT Samudera Indonesia Tbk (SMDR) in an information disclosure quoted on Monday (22/2).
However, she did not mention the source of funding for the capital expenditure. "The company has a better profit target this year compared to 2020," she said.
As of September 2020, SMDR posted revenues of US$ 362.09 million, up from US$ 319.30 million in the same period in 2019. Gross profit and net profit were US$ 48.11 million and US$ 8.26 million, respectively. While in the same period in 2019, gross profit was US$ 42.04 million and net loss of US$ 34.11 million.
In addition, Farida said that its affiliated companies received funding of US$ 90 million from MUFG Bank and the Development Bank of Japan for refinancing the Tangguh Towuti LNG carrier, the Papua LNG route. The affiliated company is LNG East-West Shipping Company (Singapore), Pte, Ltd. (LK/LM)