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Garudafood seeks opportunities in peanut and maize plantations in Subang

15 June 2021 12:20

JAKARTA – PT Garudafood Putra dan Putri Jaya Tbk (GOOD) explores a business diversification in peanut and maize plantations in Subang, West Java. This plan is awaiting approval from the Annual General Shareholders Meeting on Wednesday (16/6).

Quoted from the company’s information disclosure on Tuesday (15/6), I Made Astawa, the Head of Corporate Legal Division of Garudafood, claims that this additional line could hopefully increase sales and profit. This measure also acts as an attempt at business diversification by optimising the company’s existing assets.

GOOD invests IDR 13.08 billion for the peanut business line, comprising an authorised capital of IDR 3.23 billion and working capital of IDR 9.84 billion. This plantation is spread on 268 Ha land in Subang, West Java, using Garuda Bida peanut variety.

Meanwhile, the corn plantation takes up IDR 8.56 billion of investment, consisting of an authorised capital of IDR 3.23 billion and working capital of IDR 5.35 billion. This plantation is located over 225 Ha land in Subang, West Java, (LK/ZH)

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