JAKARTA. PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO), a herbal medicine manufacturer widely known as Sido Muncul, has set its capital expenditure (capex) budget this year to IDR 197 billion.

With this amount of capex, this company aims to obtain 15% growth in its sales and net profit on 2023. "We are continuously trying to maximise the potential sales of our subsidiaries' products," David Hidayat, President Director of SIDO, added, as quoted by Investor Daily.

On the other hand, Hidayat also stated that Sido Muncul will keep increasing factory efficiency to boost sales and net profit. The effect of this strategy has been apparent in Sido Muncul's H2 2022 financial statement.

"We are currently closing the book, so we have not received specific numbers," Hidayat said.

From the allocated capex, Sido Muncul will utilise some portion to acquire more production tools and complete the green house project. On top of this, the company will expedite the execution of export initiatives that has been prepared in advance. (KR/ZH)