PT Timah Tbk capital expenditure this year was pegged at Rp769,46 billion with the largest allocation or Rp175 billion was used for construction of five ships suction unit of production.
President Director of PT Timah Tbk Wachid Usman said the capital expenditure fund will be taken from internal cash of the company.
"Until now we did not plan to seek additional funds from banks to finance capital expenditure. But if bank interest down, it could be no bank loans," he said today after general meeting of shareholders (AGM).
The Company allocates Rp140 billion or 18% from the total expenditure capital to modify the bucket wheel dredgers dredges, Rp82,3 billion for the construction of tin chemical plant project, procurement drill ships and onshore drilling machine Rp43 billion, and increased shipbuilding capacity Rp80 billion.
Other activities funded from capital spending this year is the exploration of Rp57,3 billion, the development of mineral technology processing Rp50 billion, and the provision of facilities and infrastructure Other supporters of Rp141,86 billion.
At yesterday's AGM, shareholders approved the dividend about Rp31,17 per share totaling Rp156,87 billion or 50% of net profit company in 2009 which will be paid on July 28.
The Company also allocates 2% of net income or Rp6,28 billion to fund the partnership program. The same quantity poured to fund environmental development.
About 46% of net income or Rp144, 32 billion dialoasikan as cash reserve fund to strengthen the company in order to strengthen performance production operations, including increasing the production fleet at sea.
This year, Timah sea due to rampant mining boost illegal mining. As many as 70% of the total production target of about 50,000 tons came from marine mining
Timah demand in world markets this year is expected to reach 310 000 tonnes, 320 000 tonnes, an increase compared with last year 290 000 tons.
Wachid said the company had to revise the production target despite Greek crisis is still affecting the global economy. "Currently there is no decline in demand from countries in Europe which have become our export destinations," he said.
As many as 30% of the total production was released for the European market. Asia still become the largest export destination, amounting to 55% of total production.
President Director of PT Timah Tbk Wachid Usman said the capital expenditure fund will be taken from internal cash of the company.
"Until now we did not plan to seek additional funds from banks to finance capital expenditure. But if bank interest down, it could be no bank loans," he said today after general meeting of shareholders (AGM).
The Company allocates Rp140 billion or 18% from the total expenditure capital to modify the bucket wheel dredgers dredges, Rp82,3 billion for the construction of tin chemical plant project, procurement drill ships and onshore drilling machine Rp43 billion, and increased shipbuilding capacity Rp80 billion.
Other activities funded from capital spending this year is the exploration of Rp57,3 billion, the development of mineral technology processing Rp50 billion, and the provision of facilities and infrastructure Other supporters of Rp141,86 billion.
At yesterday's AGM, shareholders approved the dividend about Rp31,17 per share totaling Rp156,87 billion or 50% of net profit company in 2009 which will be paid on July 28.
The Company also allocates 2% of net income or Rp6,28 billion to fund the partnership program. The same quantity poured to fund environmental development.
About 46% of net income or Rp144, 32 billion dialoasikan as cash reserve fund to strengthen the company in order to strengthen performance production operations, including increasing the production fleet at sea.
This year, Timah sea due to rampant mining boost illegal mining. As many as 70% of the total production target of about 50,000 tons came from marine mining
Timah demand in world markets this year is expected to reach 310 000 tonnes, 320 000 tonnes, an increase compared with last year 290 000 tons.
Wachid said the company had to revise the production target despite Greek crisis is still affecting the global economy. "Currently there is no decline in demand from countries in Europe which have become our export destinations," he said.
As many as 30% of the total production was released for the European market. Asia still become the largest export destination, amounting to 55% of total production.
Comments