Kusuma Kemindo Prepares IDR 2.6 Billion Capital Expenditure

Armfalcon.com, JAKARTA — A chemical distributor, PT Kusuma Kemindo Sentosa Tbk, is preparing capital expenditure of IDR 2.6 billion in 2023. The capital expenditure will be allocated to increase the fleet.

Director of Kusuma Kemindo Sentosa Melly Elita said the company is targeting the expansion of two branch offices in Denpasar and Medan. Gradually, the company is rejuvenating its distribution fleet, such as trucks at branches, so that it will increase efficiency and productivity.

“Our 2023 capital expenditure is IDR 2.6 billion to add and rejuvenate the branch office distribution fleet. The source of capex funds is from our own cash,” he said in a written statement, Friday (19/5/2023).

According to him, the company also targets sales to grow 19 percent and net profit to grow 60 percent. The company is responding seriously and carefully to global factors that have occurred, such as the Russia-Ukraine war since March 2022 which has had an impact on the economies of many countries to this day and also has had an impact on most sectors including clothing, food, industry including commodity raw materials.

In addition, high inflation and recession occurred, especially in the world’s main supplying countries, including China, America, Europe and Japan, which in turn caused fluctuations in the price of industrial raw materials. So that it has an impact on weakening domestic demand and disrupting the export market. In the first quarter of 2023, the company posted sales of IDR 64.52 billion.

This sales grew three percent compared to the achievement for the same period in 2022 of IDR 62.37 billion. Kusuma Kemindo Sentosa President Director Kiki Rusmin Sadrach added that the company is adding products that have better margins, such as Eberle Specialty for the tanning industry.

“The company is optimistic about achieving improved performance in both the top line and bottom line even in the midst of existing conditions and challenges, both global and domestic,” he said.

Kusuma Kemindo Sentosa agreed to distribute a cash dividend of Rp 1.5 billion. This amount is equivalent to 22.87 percent of net profit for the 2022 fiscal year of IDR 6.21 billion.

“Rp 1.5 billion or 22.78 percent of the comprehensive profit will be distributed as dividends. Around Rp 50 million will be recorded as a reserve fund. And the remaining profit will be used to strengthen working capital,” he said.

Dividends will be paid on June 20, 2023. The allocation for the use of net profit for 2022 has considered the business continuity plan, so the company ensures that this allocation does not disrupt operational activities and sustainable business development.

The decision has also considered the achievement of performance. On the top line, sales grew two percent from IDR 226.4 billion in 2021 to IDR 230.72 billion in 2022. In addition to dividend distribution, the meeting also approved the use of funds initial public offering.

Kusuma Kemindo Sentosa As a subsidiary company of PT Catur Sentosa Adiprana Tbk which is engaged in the distribution of chemicals which was founded in 1990 and made an initial public offering in August 2022.