JAKARTA – PT Mitra Investindo Tbk (MITI), an investment company in the cargo shipping industry, allocates IDR 7 billion to its capital expenditure, covering the cost of maintenance and vessel acquisition this year. Andreas Tahija, President Director of Mitra Investindo, announced this decision in the public expose treatise quoted Tuesday (19/7).
“The capital expenditure (capex) will be spent on fixing boats and add more units to the fleet,” Tahija confirmed.
On top of this, the company is currently establishing a branch office in Balikpapan, East Kalimantan. This new branch office will solidify MITI’s existing branch office network, which is currently spread across seven cities in six different provinces.
“The company will open another branch outside the province. However, the plan to branch out to international market is still unheard of, unless Pertamina decided to carry out a project abroad. In that case, we will follow through the process,” Tahija further explained.
At the end of Q1 2022, MITI reported sales of IDR 17.85 billion, 48.49% higher than the number recorded in Q1 2021 of IDR 12.02 billion. As a result, its net profit also proliferated 70.71%, driving it upward from IDR 1.64 billion to IDR 2.8 billion. (LK/ZH)