JAKARTA - PT Timah Tbk (TINS) 's losses decreased last year compared to 2019 by optimizing efficiency in the cost of official travel, training, salaries and employee benefits.
Riza Pahlevi, President Director of PT Timah Tbk (TINS), said that the company's losses were recorded at IDR 340.60 billion, lower than in 2019 of IDR 611.28 billion. This reduction in losses resulted from efficiency in general expenses and an increase in financial income.
Efficiency in general and administrative expenses, for example, the reduction in costs of salaries and benefits, professional services, and business travel and training. Where as a whole, TINS management recorded expenses of IDR 832.98 billion, lower than in 2019 of IDR 1.06 trillion.
In 2019, TINS generated revenues of IDR 15.21 trillion, a decrease compared to 2019 of IDR 19.34 trillion. Revenue from all segments decreased, except sales from coal and nickel which increased. The export contribution was recorded at IDR 14.26 trillion and local IDR 951.34 billion. (LK/LM)