JAKARTA (Indonesia Today) – PT Bukit Uluwatu Villa Tbk (BUVA) has secured loan facility of Rp400 billion from PT Bank Central Asia (BCA) Tbk (BBCA), Investor Daily reported this morning.
Hendry Utomo, BUVA’s director, said the loan will be used to fund two 5-star hotel projects; Alila Bintan hotel and SCBD Jakarta.
He said the project will cost Rp580 billion, funded by the company’s internal cash. As of June 2012, the company has cash and cash equivalent of Rp106.76 billion.
Hendry added the company targets revenue to grow 10-11% to Rp238.38 billion to Rp240.55 billion this year, contributed by hotel (65%) and villa leasing business (45%). (hans@theindonesiatoday.com)