UNTR – Spent IDR13.8 tn of 2023 capex in 9M23

UNTR – Spent IDR13.8 tn of 2023 capex in 9M23 United Tractors (UNTR) absorbed IDR13.8 tn (+160.37% yoy) of capex in 9M23 which was used to purchase heavy equipment to support the mining contractor business line. Previously, UNTR allocated capex worth IDR18.06 tn this year. In 4Q23, UNTR will focus on absorbing the remaining capex to meet the procurement of heavy equipment and complete the construction and improvement of facilities supporting other business lines. This year, UNTR also acquired through its subsidiary, Danusa Tambang Nusantara (DTN), Anugrah Surya Pacific Resources (ASPR) as the holding of Stargate nickel mine. The transaction value reached USD104.91 mn and aims to add to the diversified portfolio. UNTR has also made acquisitions in the renewable energy sector through its subsidiary, Energi Prima Nusantara, which signed an agreement to take 40,476% of Supreme Energy Sriwijaya's (SES) new shares with a total transaction value of USD43.2 mn. SES owns 25.2% shares of Supreme Energy Rantau Dedap (SERD) which is a geothermal business license holder with a capacity of 2x49 MW. (Source: Bisnis Indonesia)