JAKARTA (Yosefardi) – Property developer PT Greenwood Sejahtera Tbk (GWSA) has cut its capital expenditure (capex) to Rp1.1 trillion for 2015-2016, from initial plan of of Rp2.7 trillion
The cut in capex is due to the delay in two projects expansion in Jakarta (The City Center Batavia Office Tower II) and Surabaya (Capital Square Surabaya). The company only sets capex of Rp100 billion for this year while Rp1 trillion capex for next year.
GWSA booked marketing sales of Rp160 billion in the first quarter of 2015, representing 16% of this year’s target of Rp1 trillion.
It booked net profit of Rp68.58 billion in the period on revenues of Rp19.07 billion. GWSA’s assets reached Rp2.4 trillion while liability amounted Rp383 billion. It has cash of Rp145 billion.