After The Entry Of New Investors, Eterindo Wahanatama Believes Its Performance Will Improve

JAKARTA - PT Eterindo Wahanatama Tbk (ETWA) continues to prove its seriousness in running its current business. Thus, the company is optimistic that performance will continue to improve in the future.

Moreover, after the entry of investors into the company through a Private Placement, so that difficulties related to capital have been successfully overcome, ETWA is increasingly confident in running its business.

Director of ETWA, Francisco Jr. Amante Colinares said, [the company will build a Palm Oil Mill (PKS). The investment value to build the PKS is estimated at around Rp. 150 billion.

"The implementation of the PKS development is planned to be carried out from July 2022 to December 2022. Thus, commercial production and sales of CPO/PK in January 2024 will be completed," Francisco said in a public presentation held on Tuesday, June 21.

On the same occasion, the President Director of ETWA, Eisen Wongso Wirya Surya admitted that in order to develop a business, investment funds or capital expenditures were not needed.

As for this year's capex, apart from the construction of PKS, the funds will also be focused on purchasing/development which includes housing, facilities & infrastructure and others including building infrastructure.

"We are also carrying out garden rehabilitation including social rehabilitation, physical rehabilitation of plants. While harvesting, routine maintenance of plants and others will start in July 2022 until they are finished," he said.