PCAR - PT. Prima Cakrawala Abadi Tbk

Rp 282

+2 (+0,71%)

JAKARTA - PT Prima Cakrawala Abadi Tbk (PCAR) has a capital expenditure within the range of Rp. 5.8 billion this year, in which sourced partly from the IPO, which took place on December 21, 2019. This capital expenditure will be utilised for factory machinery.

Titi Indah Susilowati, Finance Director of PT Prima Cakrawala Abadi Tbk (PCAR) said that the IPO proceeds that have not been used entirely were intended for investment purposes within the amount of Rp 5.8 billion, which was machinery repairment and factory requirement.

Investment funds sourced from IPO proceeds as of December 2019 was Rp 3.84 billion, and will be for investment in Nuansa Cipta Magello. While, the total working capital that has been used is Rp 57.80 billion.

And for the sales decrease, in terms of volume, is related to the reduction number of the operated factories - in Indramayu, West Java, and Semarang - Central Java. The company only operates one factory located in Makassar. This year, the company decides to diversify into some other types of fish, such as squid and fish processing. "there will be diversification to the other fish products, such as squid and maybe to the other types of fish; which is currently in the process of obtaining permit," he said. (LK/W)