2018, Jakarta Setiabudi Allocates Rp1.2 Trillion Capital Expenditure

INDUSTRY.co.id - Jakarta - The management of PT Jakarta Setiabudi Tbk (JSPT) allocates Rp1.2 trillion to finance the company's capital expenditure (capex) this year. About 30% of the fund comes from the company's equity and the rest consists of loans from banks.

"About 60-70% of the capex fund, or between Rp720-840 billion, will be used to finance the completion of the Hyatt Regency Bali Hotel renovation and the construction of the Andas Bali Hotel. Both are located in Bali. The rest is to finance projects in Mega Kuningan-South Jakarta, Medan and Hiyata, "Chandra P. Asali, Director of JSPT, said at Ancol Mercure Hotel, Thursday (24/05/2018).

Chandra said the Hyatt Regency Bali Hotel renovation project will be completed in the fourth quarter of this year and the Andas Bali Hotel development project will be completed in the fourth quarter of 2019.

"Andas Bali Hotel is a five-star boutique hotel with Balinese Village concept. Hotel has 149 rooms and the villa was developed in the area of ​​Sanur, Bali, "said Chandra.

Chandra revealed, JSPT management during January-March 2018 has realized the capex of Rp240 billion. The capex is equal to 20 percent of the company's capex target this year.

Meanwhile, shareholders in the Annual General Meeting of Shareholders of the company approved the distribution of dividends for the fiscal year 2017 totaling Rp44 billion (Rp19 per share).

"The total dividend value is 33 percent of the company's consolidated net profit of Rp131.72 billion and will be distributed by the end of June 2018," added Merry Lim, Finance Director of JSPT. (Abraham Sihombing)