MYOR – Spent 68% of capex for new factory

MYOR – Spent 68% of capex for new factory Mayora Indah (MYOR) allocated IDR2.5 tn for its 2023 capital expenditure (capex) and has already utilized 68% of its budget. This allocation has primary focus on completing new factory construction in Balaraja, Banten, and Purwosari, East Java. This capex is targeted at enhancing biscuit and wafer production. IDR1.7 tn has been invested in 1H23. These investments are part of MYOR's strategic plans to increase production capacity, with new factories set to come online in 2024, contributing to a 30% boost in biscuit and wafer production. The company is aiming for IDR33.74 tn in sales by the end of 2023, a 10% yoy increase, and a net income of IDR2.60 tn. MYOR plans to achieve these targets through investments in brand innovation, streamlined product distribution, marketing, and advertising, and the launch of new products. (Source : Bisnis Indonesia)