Intiland to spend Rp 1t on capex
The Jakarta Post, Jakarta | Wed, 06/22/2011 4:22 PM
Property developer PT Intiland Development says it has spent has spent about Rp 400 of a planned Rp 1 trillion (US$116 million) on capital expenditures in 2011.
Intiland corporate secretary Theresia Rustandi said the money would finance five construction projects: Park Residences, TB Simatupang and Talaga Bestari in Jakarta; Graha Natura in Surabaya; and Whiz Hotels in Semarang, Bali and Balikpapan.
“The source of the funds are internal cash and banking loans,” she said on Wednesday in Jakarta as quoted by kontan.co.id, adding that loans would fund 50 to 60 percent of the expenditures.
Intiland director Archied Noto Pradono said company was considering issuing bonds or asking two local banks for about Rp 700 billion in loans to finance the expenditures.
