JAKARTA – PT Dharma Polimetal Tbk (DRMA), a vehicle spare part manufacturer, will build a new production facility in Cikarang, West Java. The plan will take up investments of approximately IDR 42.34 billion, equivalent to 17.14% of the capital expenditure budget of IDR 247.05 billion. The CapEx budget originates from its IPO proceeds gained in December 2021.
As quoted from the information disclosure on Monday (10/1), DRMA has allocated its capital expenditure budget of IDR 247.05 billion, which is 70% of its total IPO proceeds of IDR 352.94 billion. The CapEx budget is intended to fund the factory construction and purchase machines to support the production process, such as stamping machines and welding robots. The new and upcoming production plant will be erected on 4,800 m2 land (0.48 Ha) in Cikarang. With this additional facility, the company will have seven factories in total, spread across different locations.
DRMA currently owns six factories that are managed by its subsidiaries. They include PT Dharma Electrindo Manufacturing (DEM) factory in Cirebon, PT Dharma Controlcable Indonesia (DCI) factory in Bekasi, PT Dharma Poliplast (DPP) factory in Karawaci and Bekasi, PT Dharma Precision Tool (DPT) factory in Bekasi, and PT Dharma Precision Parts (DPA) factory in Bekasi.
As previously informed, DRMA offered 705,882,300 shares of IDR 500 each in its IPO from December 13 to 16, 2022. (LK/ZH)