Expanding its business, DRMA allocates IDR 353 billion as CapEx
JAKARTA. PT Dharma Polimetal Tbbk (DRMA) allocates the capital expenditure (CapEx) of IDR 353 billion to expand its business by building a new production plant and purchasing new machineries.
Irianto Santoso, President Director of Dharma Polimetal, claimed that 70% of the budgeted CapEx for the expansion originated from the IPO proceeds.
According to Santoso, this expansion covers the construction of new factories and acquisition of new machines to manufacture fresh components. “A portion of the expansion is also funded by the company’s profit,” he clarified to Kontan last week. The company will also utilise the money to maintain existing machines.
In addition to boosting production capacity, DRMA will also diversify its business by developing components of electric vehicles (EV) and assembling three-wheelers (PowerAce). With this increased level of production capacity, DRMA aims for the performance growth of up to double digit or 20%, specifically, in 2022. (AM/ZH)