Mitratel allocates IDR 9.9 trillion to its capital expenditure
JAKARTA. PT Dayamitra Telekomunikasi Tbk (MTEL) or Mitratel will spare the capital expenditure budget of IDR 9.9 trillion in 2022. Most of the proceeds, or 50% of them, will be used for acquisitions.
Hendra Purnama, Director of Investment of Dayamitra Telekomunikasi, stated that this year’s capital expenditure budget is set to IDR 9.9 trillion, which originates from last year’s IPO proceeds. The capital expenditure will be channelled to fund acquisitions of IDR 4.95 trillion (50%), organic development of IDR 3.96 trillion (40%), and others of IDR 0.99 trillion. Last year, MTEL managed to collect IDR 18.8 trillion from its IPO.
Purnama also claimed that the company plans to expand its coverage area in Java and outside Java. “We will mix in both,” he announced, as quoted by Bisnis last week. He reasoned that the development outside Java might enhance coverage area, whereas the establishment in Java could solidify other supporting infrastructure development.
With the massive amount of capital expenditure, Purnama is confident that it will boost the fundamental operations of the company. (AM/ZH)