Metropolitan Land Add Land Bank Up to 100 Hectares

By : Hariyanto And Aldi Firhand. A | Wednesday, August 09 2017 - 15:59 IWST

PT Metropolitan Land
PT Metropolitan Land - Jakarta - Throughout the year 2017, PT Metropolitan Land Tbk (MTLA) has increased the number of land banks up to 100 hectares.

The company's financial director, Olivia Surodjo, said that the additional land bank will use capital expenditure (capex) this year.

"We have added land bank up to 100 hectares, bought using capex funds," said olivia at the Indonesia Stock Exchange Building, Tuesday (08/08/2017).

Capex funds used in the purchase of this land reached more than Rp160 billion, higher than the previously budgeted budget of only Rp160 billion.

Meanwhile, the absorption of capex up to July 2017 from the company has reached Rp258 billion or has more than 50% of total capex in this year is budgeted at Rp540 billion.

In addition, this year the company plans to lend to the bank with a total of Rp300 billion. Unfortunately, Olivia is still reluctant to explain which banks will be creditor and will be used for what will this fund.

"If the debt is likely to add bank debt, approximately Rp300 billion but can not say the use and the bank," she said.

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