Jun 23, 2011

Indomobil to spend Rp400 bio capex

Car distributor and assembler PT Indomobil Sukses Internasional Tbk (IMAS) will spend Rp400 billion capital expenditure (capex) this year to support business expansion.
President Director Jusak Kertowidjojo said the capex will be used to develop business of its subsidiaries in financial sector such as PT Indomobil Finance Indonesia. "The allocation is more than half," said Jusak yesterday as quoted by Kontan today.
Indomobil is also planning to strengthen distribution chain of Nissan and Hino. The company will use proceed from rights issue to support the expansion.

Disclosure: No position at the stock mentioned above. 

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