Feb 9, 2011

Intiland to spend Rp1 trillion capex

PT Intiland Development Tbk (DILD), a multi-segment property developer, boosts capital expenditure (capex) this year to Rp1 trillion from the previously planned Rp600 billion-Rp700 billion, as some projects has been developed since last year.
President Director and CEO Intiland Lennard Ho Kian Guan said that the projects included residences in Cengkareng, Surabaya, Kota Baru Tangerang, Banten, and an apartment in Jalan TB Simatupang, South Jakarta.
“There are many improvements in the projects. The capital expenditure will come from both cash and bank loan. We are negotiating with some investment banks,” he said as quoted by Bisnis Indonesia today.
Concerning revenue and net income of 2010, Lennard ensured that the result would be better than that of 2009, as marketing sales for all company’s products in 2010 surpassed Rp1 trillion.
Marketing sales is usually higher than the sales recorded in the financial report.
As an illustration, marketing sales covers the advance payment of 10%, while financial report does not. A few months ago, the company targeted to post 2010 revenue as much as Rp900 billion.The biggest contributor to the revenue was residence segment, which account for 80% revenue, while the rest came from hotel and office rent.

Disclosure: No position at the stock mentioned above.
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