ANJT Overhauls tactics as Negative Sentiments Swarm Palm Oil Industry

By Editorial Team 16/08/2019
Summary

PT Austindo Nusantara Jaya Tbk put forward a defensive strategy in the second half of 2019 as the performance declined in the previous semester. Austindo Finance Director Lucas Kurniawan said the ANJT-stock coded company must prepare a defensive tactic in the second half to improve performance. He said ANJT would delay or reschedule capital expenditure, as quoted by Bisnis.com.

According to him, the palm oil producer would only disburse funds for the completion of the palm oil mill and edamame processing factory developments, allocating US$ 60 million in capital expenditure for the project. It planned to operate these factories in Q3/2019. Additionally, ANJT also eyes to streamline the operations and optimize revenue from the sale of by-products.

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