- ELSA is optimistic about performance growth in 2H24
Elnusa (ELSA) expects performance growth to continue into the 2H24. In the 1H24, ELSA recorded revenue of IDR 6.3T (+7.8% yoy), driven by the integrated upstream oil and gas services segment which increased by 37.35% yoy to IDR 2.6T. Meanwhile, revenue from the oil and gas support services segment fell 16.55% yoy to IDR 692B along with the energy distribution and logistics services revenue which also decreased 1.88% yoy to IDR 3.3T. ELSA completed various strategic projects in the upstream oil and gas sector, including a 2D seismic survey covering 198 km and a 3D survey covering an area of 1,971 km². Apart from that, the company also recorded success in drilling and well maintenance services, Wireline Services (WLS), Pressure & Pumping Services (PPS), Welltesting Services (WTS), EPC OM, and engineering projects. (Kontan) - TPIA realized USD 159M capex in 1H24
Chandra Asri Pacific (TPIA) has realized USD 158.6M capex in 1H24. These funds were used to purchase fixed assets with USD 100M of which was allocated for Turn Around Maintenance activities (TAM) and routine maintenance. Throughout 2024, the company has allocated capital expenditure of IDR 6.2T or the equivalent of USD 400M, most of which will be used for the construction of a CA-EDC factory that produces plastic raw materials. (kontan)