Dec 19, 2011

Surya Semesta to spend Rp1 trio capex

Property developer PT Surya Semesta Internusa Tbk aims to spend Rp1 trillion capital expenditure next year, double from last year's figure of Rp500 billion.
Surya Semesta's President Director Johannes Suriadjadja, as quoted by Bisnis Indonesia today, said about Rp850 billion of the capex will be used by the company to add land bank and develop industrial estate.
"We have planned to acquire 1,300 hectares of land next year. It seems aggressive for us. But, we try to meet the market demand," he said.
Up to now, Surya Semesta's land bank is about 366 hectares. The figure is estimated to fulfill the demand for the next 3 years. Surya Semesta targets to sell industrial land of Rp1.1 trillion next year.

Disclosure: No position at the stock mentioned above.

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