Sido Muncul Prepares Capital Expenditure Of IDR 102 Billion This Year

Illustration. (Photo: Doc. Antara)

JAKARTA - PT Industri Jamu and Pharmacy Sido Muncul Tbk (SIDO) has prepared a number of steps to spur the company's performance in 2024. One of them, the company budgets capital expenditure (capex) for IDR 102 billion.

President Director of Sido Muncul (SIDO) David Hidayat said the capital expenditure would be used to finance maintenance and add minor production facilities as well as laboratory equipment and Research and Development (R&D).

"This Capex will be financed from the company's revenue," he explained to reporters, quoted Monday, February 12.

David said that the repair and addition of facilities was in line with the prospects for the medical herbal market, which is currently still high in demand. In addition, many marketing areas such as Eastern Indonesia have the potential to be developed by the company.

As for raw materials, the company is not worried about the current geopolitical conditions, because most of the raw materials use local products.

"Although there are some raw materials for drinks originating from abroad, in the meantime the supply is not problematic," said David.

Meanwhile, to support the work program that has been built, the company even plans to reshuffle management by placing or adding professionals who will focus on developing the company's business.

"This step is expected to improve performance and boost growth in 2024 and beyond," concluded David.