Retailer PT Mitra Adiperkasa Tbk (MAPI) is planning to spend Rp350 billion of capital expenditure (capex) this year. Previously, the company set Rp300 billion capex.
Mitra Adiperkasa Corporate Secretary Fetty Kwartati, as quoted by Investor Daily, said the company will use internally generated cash flow to fulfill the capex.
Mitra Adiperkasa plans to open more than 100 outlets of specialty store and food and beverage. At end of 2010, Mitra Adiperkasa managed 854 outlets in 25 different cities throughout Indonesia with a total size of 433,327 square meters.
Disclosure: No position at the stock mentioned above.
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