JAKARTA. PT Lotte Chemical Titan Tbk (FPNI) prepares a capital expenditure (CapEx) of USD 5 million, equivalent to IDR 71 billion, in 2021.
Jojok Hadrijanto, the Director of FPNI, claims that most of the CapEx would be used to fix the company’s production facilities. “Most of it would go to factory maintenance. Our factory, which is called PT Lotte Chemical Titan Nusantara (LCTN), started the construction in 1991,” Hadrijanto explains through the public expose.
Hadrijanto specifies that the production facilities requiring maintenance are several supporting machines. Meanwhile, the main machine used by the company still refers to the old machines.
With these allocated CapEx, the management projects its revenue performance in 2021 to grow 5% from last year. FPNI scored revenue of USD 309.37 million last year.
According to idnfinancials.com, 92.5% of FPNI’s shares are under the control of Lotte Chemical Titan International Sdn. Bhd. as of December 31, 2020. The remaining 7.5% belongs to the public investors. (KR/ZH)