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.
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.
PT STEEL PIPE INDUSTRY OF INDONESIA Tbk (SPINDO) kembali mencetak prestasi dengan meraih penghargaan "Best Sustainability-Linked Bond" dalam ajang The Asset Triple A Awards-ASEAN/DEAL Awards untuk kategori Sustainable Finance 2025.
PT STEEL PIPE INDUSTRY OF INDONESIA Tbk (SPINDO) once again made a proud achievement in the international arena by winning the Best Sustainability-Linked Transaction 2024 award at the 18th Annual Deal & Solution and ESG Awards 2024 held by Alpha Southeast Asia, a leading financial institution based in Hong Kong.
PT STEEL PIPE INDUSTRY OF INDONESIA Tbk (SPINDO) kembali menorehkan prestasi membanggakan di kancah internasional dengan meraih penghargaan Best Sustainability-Linked Transaction 2024 dalam ajang 18th Annual Deal & Solution and ESG Awards 2024 yang diadakan oleh Alpha Southeast Asia, lembaga finansial ternama yang berbasis di Hong Kong.
These square pipes are not only strong, but also durable as they are coated with zinc that protects them from rust.
In addition to its exceptional durability, this pipe also has high precision, ranging from accurate dimensions, consistent thickness, to perfectly closed welds. Hence, it is not surprising that GI Hollow Pipes are often used for various needs.
Pipa berbentuk kotak atau persegi ini bukan cuma kuat, tapi juga tahan lama karena dilapisi Zinc (seng) yang melindunginya dari karat.
Selain daya tahannya yang luar biasa, pipa ini juga punya presisi tinggi, mulai dari dimensi yang akurat, tebal yang konsisten, hingga lasan yang tertutup sempurna. Makanya, nggak heran kalau Pipa Hollow GI sering dipakai untuk berbagai kebutuhan.
Referring to the Circular Letter of the Financial Services Authority Number S-17/D.04/2025 concerning “Policy on the Implementation of the Buyback of Shares Issued by Public Companies in Market Conditions that Fluctuate Significantly” dated March 18, 2025 where Public Companies can buy back shares without the approval of the General Meeting of Shareholders.
Merujuk pada Surat Edaran Otoritas Jasa Keuangan Nomor S-17/D.04/2025 tentang “Kebijakan Pelaksanaan Pembelian Kembali Saham yang Dikeluarkan oleh Perusahaan Terbuka dalam Kondisi Pasar yang Berfluktuasi secara Signifikan” tertanggal 18 Maret 2025 dimana Perusahaan Terbuka dapat melakukan pembelian kembali saham tanpa persetujuan Rapat Umum Pemegang Saham.