JAKARTA (Yosefardi) – Property developer PT Ciputra Development Tbk (CTRA) plans to issue bonds worth Rp500 billion in first quarter of this year.
The company opted to raise fresh funds via bond issue, instead of bank loan as the benchmark interest rate tends to rise.
CTRA booked recurring income of Rp1 trillion last year, grew by 25% from Rp800 billion in previous year.
The company targets to book recurring income of Rp1.3 trillion this year, supported by Ciputra World I project and shopping mall projects in Grogol, Surabaya, and Semarang.
CTRA also booked marketing sales of Rp8.9 trillion in 2013, grew by 21.91% from Rp7.3 trillion in 2012. It targets to book marketing sales of Rp10 trillion this year.
CTRA also targets its revenue and net profit to grow by 50% this year. At 10.35 am Jakarta, CTRA gained 0.6% to Rp835 per share. While Citra Property and Ciputra Surya rose 0.75% and 0.88% respectively.