Indika Energy, Owned By Conglomerate Agus Lasmono Sudwikatmono, Has Absorbed US$37 Million In Capital Expenditures, The Largest For Petrosea

Illustration. (Photo: Unsplash)

JAKARTA - PT Indika Energy Tbk (INDY) has absorbed capital expenditure (capex) of 37 million US dollars until June 2021. The largest use of funds is for PT Petrosea Tbk.

The company owned by conglomerate Agus Lasmono Sudwikatmono itself has prepared capex funds worth 124.8 million US dollars or around Rp. 1.77 trillion (assuming an exchange rate of Rp. 14,310 per dollar).

Indika Energy Director Retina Rosabai said this amount covers 29.7 percent of the total budgeted capex this year of US$ 124.8 million. Furthermore, he said, the use of private capital expenditure is still dominated by PT Petrosea Tbk (PTRO).

"So far, the largest capex absorption has come from PT Petrosea Tbk. (PTRO) amounting to 26.6 million dollars," he said at a media gathering, Wednesday, August 4.

Then, the second largest use of funds was for PT Mitrabahtera Segara Sejati Tbk (MBSS) of 4.2 million dollars. Third, PT Interport Mandiri Utama with an absorption of 3.7 million dollars.

Meanwhile, PT Indika Multi Properti or IMP has used 1.5 million dollars from the 0.9 million dollars prepared, or the absorption is 169 percent.

"For 2020, the total use of capex will reach 84.2 million dollars. This figure is down from the previous year, which was 156.9 million dollars," he said.

Furthermore, Retina said, throughout the first semester of 2021, INDY posted revenue of 1.28 billion dollars, an increase of 14.1 percent from 1.12 billion dollars in the same period the previous year. The increase in revenue mainly came from PT Kideco Jaya Agung.

Meanwhile, Kideco recorded a 21.9 percent increase in the average selling price of coal from 39.8 dollars to 48.6 dollars per tonne in the first half of this year. Asked that, Kideco also recorded an increase in coal sales volume by 8.5 percent from 16.6 million tons to 18.1 million tons during the six months of 2021.

Of this volume, Kideco marketed 6.4 million tons or 35 percent of which was for the domestic market, far exceeding the domestic market obligation (DMO) for coal by 25 percent.