JAKARTA (Indonesia Today) – Financing company PT Sinar Mas Multiartha Tbk (SMMA) allocates capital expenditure (capex) of Rp1.5 trillion for 2013, compared to this year’s capex of Rp700 billion.
The company allocates Rp1.1 trillion for funding new building project of PT Asuransi Jiwa Sinarmas MSIG, a tower located in Sudirman street, Jakarta, with 47 floors.
The company booked net profit of Rp1.3 trillion in first nine months of this year, jumped 172% from Rp794.53 billion in the same period of last year. The company targets to book net profit of Rp1.56 trillion this year. Revenue increased 4% to Rp13.2 trillion, of which revenue from shares investment amounted Rp1.04 trillion.
SMMA and CT Corpora will reportedly sell 80% shares of PT Asuransi Jiwa Mega Life for US$200-300 million, to potential buyer Etiqa Insurance.