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21 November 2019

Pelindo II to Allocate Rp7.6 Trillion for Capex

TEMPO.CO, Jakarta - State port operator PT Pelabuhan Indonesia I (PT Pelindo II or IPC) plans to allocate Rp7.6 trillion for capital expenditures (capex) next year.

"Investment or capex for 2020 in our plan reaches Rp7.6 trillion," Pelindo II President Director Elvyn G. Masassya  said in Jakarta Wednesday.

The capital expenditure will be used to complete several ports which are now under construction, he said.

Pelindo posted a profit of Rp2.21 trillion until the third quarter of 2019, up 18.38 percent compared to the same period last year.

The company also saw its operating income rising 2.41 percent to Rp8.56 trillion compared to the corresponding period a year earlier.

Pelindo is optimistic that its net profit this year will exceed its last year's profit of Rp2.43 trillion.

Pelindo II will focus on exploring opportunities to increase its revenues and throughput in the last two months of 2019, Elvyn said. The upward trend of the company's profit must be maintained, he added.

Viewed from its operational performance, the traffic flow of containers until the third quarter of 2019 was recorded at 5.62 million TEUs compared to 5.58 million TEUs a year earlier. Similarly, the non-container traffic flow reached 43.2 million tons, up 1.14 percent compared to the same period last year when it was recorded at 42.7 million tons.

Pelindo II also witnessed an increase in the number of passengers to 905.5 thousand until the third quarter of 2019 from 505 thousand the year before.