JAKARTA (Yosefardi) – State cement producer PT Semen Indonesia Tbk (SMGR) allocates Rp2.2 trillion, or 20% of its capital expenditure (capex) for this year, to fund its acquisition of cement plant in Vietnam.
The company allocates capex of Rp7-11 trillion for this year, of which 50-70% to be sourced from external funding. SMGR had acquired Vietnam-based Thang Long Cement Joint Stock Company (TLCC) at price of Rp1.5 trillion in 2012. TLCC now has production capacity of 4 million tons per annum.
SMGR will pay dividend of Rp2.22 trillion, or Rp375.3 per share, representing 40% of net profit for 2014 fiscal year. It booked net profit of Rp5.56 trillion last year on revenues of Rp24.5 trillion. Net profit grew by 3.6% while revenue rose 10.1%, compared to 2013.