Allocate Capex of IDR 750 Billion, Timah (TINS) Strategy to Boost Performance in 2024

LISTED COMPANY - JAKARTA. PT Timah Tbk (TINS), a state-owned mining company, has been struggling more than its peers. The company has decided not to distribute dividends this year after suffering a loss of IDR 449.69 billion last year.

"The company has decided not to distribute dividends, especially since we have bond and sukuk obligations due in August 2024," revealed TINS' Finance Director Fina Eliani at a recent press conference.

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For your information, throughout 2023, TINS' revenue plummeted 32.88% year-on-year (YoY) to IDR 8.39 trillion. In terms of bottom line, TINS reversed from a net profit of IDR 1.04 trillion in 2022 to a net loss of IDR 449.69 billion in 2023.