BEEF - PT. Estika Tata Tiara Tbk

Rp 244

-4 (-2,00%)

JAKARTA – PT Estika Tata Tiara Tbk (BEEF) has successfully turned its loss into net profit as the revenue skyrocketed 1,917% year-on-year (yoy) at the end of June 2023. With this financial improvement, BEEF redirects its focus to relocation of cold storage from Cikarang to Subang, as well as expansion of Subang facility.

For the record, the existing facilities owned by BEEF are scattered into three locations. There is factory and cold storage in Cikarang, feedlot and slaughterhouse in Subang, as well as factory in Salatiga.

“Our next plan is to relocate processed food facility in Cikarang to Subang,” Imam Subowo, President Director of BEEF, mentioned during the Public Expose of BEEF 2023 yesterday (5/10).

Furthermore, Subowo also announces the plan to expand infrastructure in Subang, consisting of new cold storage establishment and feedlot expansion. “Our plan is to add another feedlot with a capacity of 2,000 cattle,” he said.

Relocation and expansion are deemed necessary as efficiency and effectiveness of Cikarang factory is inferior to the new location in Subang. “The location is approximately 20 Ha. Efficiency and sales target are our priorities now,” added Subowo.

Relocation of cold storage to Subang is in line with the company’s strategy to cut cost and enhance production. “Location in Subang is very ideal to become a hub, to distribute goods to various regions,” Subowo stated.

Once facing bankruptcy lawsuit, the management claims to diligently pay their debts each month from March 2023 until now. Subowo then mentioned that BEEF’s future objectives, besides paying off debt and fixing infrastructure, are to improve product distribution and sales, as well as increasing its live assets through cattle import. (ZH)