Steel Pipe Industry (ISSP) has absorbed all Capex 2019
Issuers of steel and iron pipe manufacturers PT Steel Pipe Industry of Indonesia Tbk (Spindo) are able to absorb capital expenditure to the maximum throughout 2019.
Deputy Director of Spindo, Tedja Sukmana Hudianto explained that this year's capital expenditure (capex) of Rp 50 billion has been absorbed by all.
"The absorption of capital expenditure this year is already outstanding. The capex is absorbed for the needs of machine efficiency beyond maintenance, purchasing of cutting machines, accumulative welding machines, "he explained when met by Kontan.co.id in Sidoarjo, Tuesday (26/11).
Tedja said that capital expenditure next year is certain to be greater than this year. But Tedja does not want to disclose the exact amount of capital expenditure next year.
Nevertheless, Tedja could notify several ISSP-coded shareholders' investment plans on the Indonesia Stock Exchange next year. Among them, upgrading one galvanized machine line that was previously still manual to be automatic. With that, it is expected that rough calculations of efficiency are quite large.
The Galvanized machine upgrade is targeted to be completed in the third quarter of 2020. The investment value for the upgrade is around Rp 8 billion. Tedja said upgrading just one machine had significantly increased capacity. In fact he said it could grow up to five times that of before.
In addition to renewing the Galvanized engine, Spindo will also conduct efficiency in other engines. There are two cutting machines in unit three that will be replaced. With this efficiency utilization can grow 10% yoy from 60% in 2019 to 70% in 2020.
The warehouse is still planned for a year there are two warehouses to be opened. Tedja explained how this was done to reach markets that had not yet been entered. It will also improve distribution connectivity. The closest plan is the completion of a depot in Makassar in the third quarter of 2020.
ISSP Corporate Secretary and Investor Relations Johannes Edward added that development and efficiency plans will be intensively carried out until 2021. "Spindo will also digitize the head office system and improve operational sales through digital marketing," he said.
Marketing development through social media for the dissemination of Spindo's products will also be maximized. Johannes gave an example, the company has a Facebook account that provides warnings to the public or prospective employees related to fraud. As for his Instagram account, there are many interesting programs and the introduction of Spindo products.
Meanwhile, besides updating the Galvanized engine, Spindo will also digitize trucks. Johannes explained this digitalization was applied to monitor fleet operations. Later with this digitalization, Spindo will be able to reduce the cost of funds by 10% or Rp. 40 billion annually.
Press Release - SPINDO 1Q2025 "SPINDO Strengthens Balance Sheet and Prepares for Growth Despite Industry Headwinds"
CONSOLIDATED FINANCIAL STATEMENTS Q 1 2025 PT STEEL PIPE INDUSTRY OF INDONESIA Tbk
Laporan keuangan konsolidasian Q1 2025 PT STEEL PIPE INDUSTRY OF INDONESIA Tbk
Canopy installation often looks simple, but in reality requires high accuracy, especially in material selection. One of the main causes of less than optimal canopy results is the use of Galvanized Hollow Pipe (GI) with imprecise dimensions.
Pemasangan kanopi sering kali terlihat sederhana, namun pada kenyataannya memerlukan ketelitian tinggi, terutama dalam pemilihan material. Salah satu penyebab utama hasil kanopi yang kurang maksimal adalah penggunaan Pipa Hollow Galvanis (GI) dengan dimensi yang tidak presisi.
PT STEEL PIPE INDUSTRY OF INDONESIA Tbk (SPINDO) made another achievement by winning the Best Stock Awards 2025 in the Sectoral category - Middle Cap Raw Goods Sector. This prestigious award was given by Investortrust and Infovesta Utama in an event held at The Sultan Hotel, Jakarta.
PT STEEL PIPE INDUSTRY OF INDONESIA Tbk (SPINDO) kembali mencetak prestasi dengan meraih penghargaan Best Stock Awards 2025 dalam kategori Sectoral - Sektor Barang Baku Middle Cap. Penghargaan bergengsi ini diberikan oleh Investortrust dan Infovesta Utama dalam sebuah acara yang digelar di The Sultan Hotel, Jakarta.
Referring to the Financial Services Authority Regulation No.36/POJK.04/2014 dated 8 December 2014 concerning the Sustainable Public Offering of Debt and/or Sukuk Securities and in connection with the plan of PT Steel Pipe Industry of Indonesia Tbk to conduct a Sustainable Public Offering of Sustainable Bonds II SPINDO Phase III Year 2025 and Sustainable Sukuk Ijarah II SPINDO Phase III Year 2025, We hereby convey Summary Additional Information, related to the planned issuance of Bonds and Sukuk Ijarah.
Menunjuk pada Peraturan Otoritas Jasa Keuangan No.36/POJK.04/2014 tanggal 8 Desember 2014 tentang Penawaran Umum Berkelanjutan Efek Bersifat Utang dan/atau Sukuk dan sehubungan dengan PT Steel Pipe Industry of Indonesia Tbk untuk melakukan Penawaran Umum Berkelanjutan Obligasi Berkelanjutan II SPINDO Tahap III Tahun 2025 dan Sukuk Ijarah Berkelanjutan II SPINDO Tahap III Tahun 2025, dengan ini kami menyampaikan perubahan informasi tambahan ringkas yang diperlukan penerbitan Obligasi dan Sukuk Ijarah tersebut.
PT STEEL PIPE INDUSTRY OF INDONESIA Tbk (SPINDO) made another achievement by winning the “Best Sustainability-Linked Bond” award at The Asset Triple A Awards-ASEAN/DEAL Awards for the Sustainable Finance 2025 category.