Jul 16, 2011

Megapolitan secures Rp120 bio loan

Property developer PT Megapolitan Development Tbk (EMDE) may secure Rp120 billion loan facilities from PT Bank Tabungan Negara Tbk (BTN). The facilities will be used to expand property projects.
Director Suharko Lie Wei at the company said the developer will use the facilities to establish project of Urbana Cinere and second stage of Urbana Karawaci. 
"Urbana Cinere requires Rp335 billion cost. From the loan facilities, we will use Rp100 billion. For Urbana Karawaci, we will use Rp20 billion from the facilities," he said.
According to him, negotiation with BTN is in final stage. But, he said the company hasn't determined the certain loan which will be drown down.
Laguna Cipta Griya performance
PT Laguna Cipta Griya Tbk (LCGP) in the first half of the year reported a 65.54% drop in net sales to Rp2.61 billion from Rp7.57 billion.
As a result, Laguna Griya suffered a net loss of Rp371.47 million from net profit of Rp1.09 billion a year earlier.
The company also suffered an operating loss of Rp1.32 million from Rp957.62 million operating profit.

Disclosure: No position at the stock mentioned above.  

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