JAKARTA - PT Temas Tbk (TMAS) is optimistic on expanding its business and modernising its fleet of ships given the growth in gross domestic product (GDP) and the safe conduct of the Presidential Election (Pilpres). This year, TMAS has allocated a capital expenditure of Rp 1.3 trillion.

Faty Khusumo, the CEO of TMAS, stated that they remain very positive about Indonesia's economicgrowth. "From what we see, the GDP growth is quite good, and inflation is still under control. Future economic growth and political stability also seem relatively safe," he said in Jakarta yesterday.

According to him, the peaceful conduct of the Presidential Election on February 14, 2024, adds to the optimism that the political and economic conditions in Indonesia are improving, including completing the Nusantara Capital City (IKN) project. "I am confident that the shipment of goods will grow through sea transport,"he said.

He mentioned that the company will expand its logistics services, modernize its fleet, and digitalize to be more efficient. "So that our overall service is better because we are still very much needed to support maritime transport in Indonesia," he said.

TMAS has allocated capital expenditure for fleet modernisation and supporting facilities to support business expansion and subsidiaries. The company targets revenue of Rp 5 trillion and net profit of Rp 1 trillion. (W)