JAKARTA (Yosefardi) – Property developer PT Nirvana Development Tbk (NIRO) restructures its units which value for Rp337.8 billion.
This restructure of units aims to suppot its business expansion. The restructure includes transfering of 211.2 million shares of PT Dandipa Aluwung (Rp206.1 billion)to PT Nirvana Wastu Pratama (NWP), from PT Nirvana Realty (NR).
Other transactions are the transfer of 109.1 million shares of PT Buana Baru Prima held by NR to NWP (Rp52.2 billion and the transfer of 83.9 million shares of PT Grahita Dana held by PT Nirvana Hotel & Resort to NWP (Rp62.1 billion).
NIRO allocates capital expenditure (capex) of Rp130 billion for this year. The company suffered loss of Rp9.37 billion in the first half of 2014, against profit Rp21.65 billion in the same period of 2013.
Net sales and revenues rose 29.6% to Rp140.94 billion from previous Rp108 billion. Its assets totaled Rp2.98 trillion while liability amounted Rp1.13 trillion.