PT Voksel Electric Tbk (VOKS), a leading cable manufacturer, is poised to capitalize on a slight increase in cable prices this year to enhance its performance and market position. With a strategic focus on efficiency, productivity, and quality improvement, Voksel Electric aims to leverage the price hike opportunity while navigating a dynamic business landscape.
Masrana, Corporate Secretary of Voksel Electric, noted the uptrend in cable prices, ranging from 5% to 10% compared to the previous year. This favorable pricing environment presents Voksel Electric with an opportunity to bolster its financial performance and competitiveness.
In line with its strategy, Voksel Electric remains committed to optimizing its business value chain and pursuing breakthroughs to deliver superior-quality products at competitive prices. With a controlling shareholder, Hengtong Optic-Electric International Co. Ltd., a renowned cable player based in Hong Kong, Voksel Electric is poised to leverage global expertise and resources to drive innovation and efficiency.
Despite the conservative business targets for the year, attributed to prevailing political uncertainties, Voksel Electric remains optimistic about its growth prospects. The company plans to capitalize on ongoing development projects, particularly in the property sector, which are expected to drive demand for cables and stimulate business expansion.
Sales in the electric cable sector have witnessed an upswing, fueled by projects such as the Main Distribution Material (MDU) and Refinery Development Master Plan (RDMP) projects in Balikpapan. Building on the momentum of sales growth and manufacturing cost efficiency achieved in 2023, Voksel Electric is poised to further solidify its position in the market and capitalize on emerging opportunities.
As Voksel Electric navigates the evolving business landscape, the company remains committed to its core principles of excellence, innovation, and customer satisfaction. By harnessing the price increase opportunity and leveraging strategic partnerships, Voksel Electric is well-positioned to achieve sustainable growth and deliver long-term value to its stakeholders.