Toba allocates $5-10m in expenditure this year
Monday, February 15 2016 - 02:57 PM WIB
IDX-listed coal firm PT Toba Sejahtra Tbk allocates US$5-$10 million in capital expenditure (capex) this year, roughly similar to last year.
Head of Investor Relations Iwan Sanyoto said the capex is mostly allocated for operation and maintenance
He said large-scale works such as land acquisitions, road construction and coal processing plant development were completed in 2014. That is why the firm?s capital expenditures for this year is relatively low.
?Capex for 2015 was completely absorbed. Two years ago, capex allocation was relatively big. This year we are focused on operation and maintenance,? he told Petromindo.com.
The firm will rely on internal resources for the capex As of Sept. 31, 2015, the firm has cash equivalents amounting to US$49.24 million.
Editing by Johannes Simbolon