Jaya Swarasa Agung (TAYS) Disburses Capex Up to Rp 25 Billion This Year

February 22, 2024, 04.20 AM | Reporter: Sabrina Rhamadanty

CORPORATE STRATEGIC - JAKARTA. Snack food manufacturer PT Jaya Swarasa Agung Tbk (TAYS) is preparing a capital expenditure (capex) budget for this year between Rp 20 billion to Rp 25 billion.

“In line with the company's projection that capex in 2024 will be between Rp 20 billion to Rp 25 billion with a revenue target of Rp 386 billion,” revealed Alexander Anwar, CEO of Tays Bakers (TAYS), when contacted by Kontan on Wednesday (21/02).

The plan is to use the capex funds for the addition of machines that improve quality, including metal detectors and others, making the first more efficient.

“And the second will be used in our quality to be able to enter the Japanese market,” he added.

Previously, in early October 2023, TAYS had signed a Strategic Partnership Agreement that includes exclusive rights for product distribution to Japan in collaboration with Mixio Holdings Incorporated, a Japanese company in the snack food industry.

This transaction does not have a material impact, but it will expand TAYS product distribution in the international market. Previously, Tays Bakers had achieved an investment grade rating of BBB+ with a stable outlook from Credit Rating Indonesia (KRI).

This rating affirms the company's strong financial stability, careful management practices, and solid market position.

TAYS is also continuously striving to expand its overseas market. The company's latest export achievement is the entry of Wasuka wafer stick products into all Miniso USA and 9to9 stores in the West Coast region of the United States.