JAKARTA. PT Industri Jamu Herbal dan Farmasi Sido Muncul Tbk (SIDO), one of the biggest herbal medicine producers in Indonesia, is allocating its capital expenditure (capex) budget of IDR 102 billion this year.

David Hidayat, President Director of SIDO, mentioned that said budget will be allocated for maintenance and addition of minor production facilities. On top of that, the company will use the money to purchase laboratory equipment and its research and development (R&D) team.

“The capex will be taken out of the company’s revenue,” added Hidayat.

Hidayat further mentioned that the maintenance and addition of SIDO’s production facilities align with the herbal medicine product market that is quite popular. Then, the company also still has marketing opportunities in Eastern Indonesia for its herbal products.

Not only that, the company has been preparing a plan to rearrange its management. This strategy includes recruiting more professionals, which will be focused on business development.

“This step is expected to improve the performance and boost its growth in 2024 and so on,” added Hidayat. (KR/ZH)