JAKARTA (Yosefardi) – Property developer PT Metropolitan Kentjana Tbk (MKPI) cuts its capital expenditure (cepex) to Rp1 trillion from initial Rp1.5 trillion as it will focus to work on the existing projects.
New projects, including residential project in Pondok Pinang, Jakarta, is planned to be developed by end of this year. The exisiting projects, focused for this year, include Pondok Indah Residence and Pondok Indah Hotel (Intercontinental.
MKPI booked marketing sales of Rp700 billion in the first quarter of this year, representing 70% of this year target of Rp1 trillion. The company targets its revenue to grow by 10% to Rp1.26 trillion this year, compared to last year’s Rp1.15 trillion. It booked net profit of Rp437 billion last year, a 19% growth compared to Rp366 billion profit in 2013.
Meanwhile property developer PT Duta Pertiwi Tbk (DUTI) booked net profit of Rp117.3 billion in the first quarter of this year, dropped 43.1% from Rp206 billion in the same period of last year.
Revenue declined 18% to Rp366 billion from previous Rp447.3 billion. Its assets reached Rp8.34 trillion while liability amounted Rp1.94 trillion.