VIVAnews – Indonesia’s tobacco company PT Gudang Garam Tbk allocates its capital expenditure (capex) for Rp 850 billion (around US$90.6 million) in 2010.
The capex will be used for routine necessities reaching Rp 250 billion in value and Rp 600 billion for building investments.
“We are preparing [the capex] from internal financing and bank loan,” said Gudang Garam corporate secretary Heru Budiman in the public disclosure at the Indonesia Stock Exchange on Tuesday, Nov. 17.
Budiman added that the bank loan will be in working capital facilities. The company has now booked US$4 – 4.5 million in debt.
The building investments include adding office rooms and constructing several resting depots for the company’s transporting drivers.
“The depot construction is to make an easier distribution route, as seen in Medan – Lhokseumawe route,” Budiman said.
He added that the company is targeting 30 percent in the cigarette market segment, similar to the target in 2009.
The intense competition after the merger of PT Bentoel Internasional Investama Tbk. and PT BAT Indonesia Tbk. has forced the company to push its performance.
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Translated by: Ariyantri E. Tarman
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