INDF Spends 31% of Capex

By Editorial Team 23/08/2019
Summary

PT Indofood Sukses Makmur Tbk allocated 23 percent lower capital expenditure (Capex) annually to Rp 7 trillion this year. The INDF stock-coded company allocated half of this budget, or Rp 3.5 trillion, to PT Indofood CBP Sukses Makmur Tbk (ICBP). Meanwhile, Bogasari and Agribusiness each received Rp 1.4 trillion and Rp 1.9 trillion, while the distribution segment obtained Rp 200 billion. Until the end of the first semester, INDF only spent Rp 2.2 trillion or 31 percent of the available budget.

Indofood Director Thomas Tjie explained the Capex spent didn’t even go near 50 percent in the first half since some divisions are waiting for machines ordered from overseas, although factory construction was one of the Capex allocations in that semester. "The factory will start operating in the fourth quarter of 2019," INDF Director Fransiscus Welirang said on Wednesday (8/21).

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