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PT Pan Brothers Tbk (PBRX) this year is eyeing an increase in sales of up to 10 percent compared to last year. With economic conditions starting to recover and automation and digitization of operations to be more efficient, it is hoped that the company's targets can be achieved. Pan Brothers Finance Director Fitri Ratnasari Hartono explained that this year the company will focus on automation and digitization of operations to make it more efficient. "This is expected to increase the company's production output by 10 percent this year," said Pan Brothers Finance Director Fitri Ratnasari Hartono, Tuesday (28/6/2022).

He said that the current factory capacity of the textile producer has reached 117 million pieces per year and there will be no change in 2022.

“Although the capacity is still the same, we continue to carry out automation and digitization so that the output can increase. So we made changes to some machines that could be automated. But so far, we have no physical plans to build a new factory or a new location,” he said.

He also added that the company has actually updated factory operations since 2021. So that this year, the company will use capital expenditure or capex to complete the program that is already running.

"So far, the capital expenditure that we have budgeted has not been fully utilized, it has not yet reached USD 1 million," he said.

Just so you know, in the Extraordinary General Meeting of Shareholders (EGMS) PT Pan Brothers Tbk (PBRX) on Monday (27/6/2022), approved the plan to increase the authorized capital from Rp300 billion to Rp647 billion, by adding 5,521,704,389 shares. new.

PBRX Director Fitri Ratnasari Hartono said, with this blessing, the company will soon hold a Capital Increase with Pre-emptive Rights (PMHMETD) or rights issue at the end of 2022 or early 2023.

"The target of the rights issue funds is around USD 50 million, which we will all use for working capital," said Fitri.

He continued, the company's Controlling Shareholder (PSP), in this case, PT Trisetijo Manunggal Utama, will act as the standby buyer for the rights issue.

"Meanwhile, our controlling shareholder is ready to become a standby buyer," he said.