JAKARTA (Yosefardi) – Property developer PT Ciputra Development Tbk (CTRA) plans to seek loan facility of Rp1 trillion from local banks in second half of this year, to fund this year’s capital expenditure (capex) of Rp2 trillion.
The company plans to launch 8 housing and apartment projects this year. The company targets to book net profit of Rp1.2 trillion and sales of Rp10 trillion.
CTRA booked net profit of Rp227.66 billion in first quarter of this year on revenues of Rp1.2 trillion.
In 2013, CTRA booked net profit of Rp976.71 billion on revenues of Rp5.08 trillion. As at March this year, CTRA’s assets totaled Rp20.55 trillion while liability amounted Rp10.43 trillion. It has cash and cash equivalent of Rp3.25 trillion.