Jun 8, 2011

Summarecon seals Rp600 bio loan

Property developer PT Summarecon Agung (SMRA) has secured Rp600 billion loan facility to acquire lands in Jakarta, Bogor, Depok, Tangerang, and Bekasi.
The acquisition is reflecting the company's strategy to penetrate market in Jabodetabek.
"We are preparing Rp600 billion to acquire lands. The market is widely open," said Summarecon President Director Johanes Mardjuki as quoted by Bisnis Indonesia today.
Summarecon sets Rp1.5 trillion capital expenditure this year. "Most of the capex will be bankrolled by bank loan facilities."

Disclosure: No position at the stock mentioned above.

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