JAKARTA. PT Humpuss Intermoda Tbk (HITS) has allocated USD 94 million for its capital expenditure in 2023. It will be utilised to support the expansion of its fleet and boost the revenue by up to 20%.
A.R. Sofyan, President Commissioner of HITS, claimed that the capital expenditure budget will use up several funding sources. They include the optimisation of assets, financing facilities from banks, and non-bank funding. “We have designed several funding patterns,” he stated during the public expose earlier today (21/12).
HITS also plans to use a portion of the proceeds of the initial public offering (IPO) of PT Humpuss Maritime International (HUMI), which is scheduled to take place in 2023, and is estimated to raise IDR 270 billion of fresh funds in total. “Most of them will be allocated to the capital expenditure of USD 94 billion. We believe that the business opportunities are quite expansive,” Sofyan added.
Furthermore, Sofyan believes that the business opportunities for HITS in 2023 will be quite wide open due to the forthcoming Elections in 2023. “There are so many activities, and there will be lots of mobilisation of fuels needed across Indonesia,” he said.
With this allocated capital expenditure, Sofyan is confident to seek 20% performance growth in 2023 for HITS. Until November 2022, the company’s revenue hit USD 114 million, while its net profit clocked up to USD 11.74 million. (KR/ZH)