Jul 18, 2011

Intiland secures Rp400 bio loan

Property developer PT Intiland Development Tbk (DILD) requires Rp1 trillion capital expenditure (capex). To fulfill the capex, the company will need bank loan facilities.
"We have secured Rp400 billion loan facility from Bank Bukopin. We will draw down the loan to meet the capex requirement," said Archied Noto Pradono, Executive Director Capital & Investment Management Intiland, as quoted by Kontan daily today.
The company utilized Rp400 billion capex in the first half of the year to develop several projects. "We used Rp200 billion from loan facility and the remaining came from internally generated cash flow."
The capex was spent to develop five projects such as Park Residences, TB Simatupang, Graha Natura, Surabaya, Talaga Bestari, Jakarta, and Whiz Hotel di Semarang, Bali, and Balikpapan,
The company's marketing sales in the first half of the year reached Rp600 billion, representing 60% of the full year target of Rp1 trillion.

Disclosure: No position at the stock mentioned above.

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