JAKARTA (Yosefardi) – State-owned company PT Adhi Karya Tbk (ADHI) plans to build 5 hotels within next 2 years with investment cost of Rp1 trillion.
These hotels will contribute revenues next year. The company allocates 60% capital expenditure (capex) for infrastructure business, 20% for property, and 20% for hotel.
ADHI had invested on property, real estate, precast concrete, and toll road. By entering new business (railway and hotel), ADHI expects its assets to increase to Rp15.93 trillion.
ADHI also target to boost contribution to revenues from property segment, through its unit PT Adhi Persada Property (APP), to 50% by 2015.
It will invite state toll road operator PT Jasa Marga Tbk (JSMR) to build housing project in Jakarta in second half of 2014.
ADHI booked net profit of Rp16.63 billion in first quarter of this year on revenues of Rp1.44 trillion. Its assets totaled Rp9.33 trillion while liability amounted Rp7.89 trillion. The company has cash and cash equivalent of Rp778.78 billion.