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Ciputra Development (CTRA) budgets capex of Rp 2.5 trillion this year

07 January 2019 04:16 AM  Company: PT. Ciputra Development Tbk[CTRA]
Rp. 915  -10 (-1.08%)

JAKARTA - PT Ciputra Development Tbk (CTRA) is optimistic that it can increase growth this year, because the property company has many product variants and each segment has its own potential market.

Harun Hajadi, Director of Ciputra Development said that the property market will not change much compared to 2018 for all segments. "What is important is that the economy does not stop halfway," Harun said when contacted by Kontan.co.id, Sunday (6/1).

Issuers with CTRA stock code on the Indonesia Stock Exchange (IDX) budgeted capital expenditure of around Rp 2.5 trillion. This figure rose by 38.88% compared to last year's capex budget of Rp 1.8 trillion.

The funds come from the company's internal cash flow, said Harun.

For the target of marketing sales this year, Harun still can't mention it. This is because it is still in the process of being determined. However, based on Kontan.co.id records, CTRA projects that marketing sales growth will remain stagnant. As for September 2018, CTRA's marketing sales were known to drop by 1.9% to Rp 5.15 trillion compared to the same period last year of Rp 5.25 trillion.

Also for the project this year, Harun said the portion had not changed too drastically. "It is precisely our superiority because we are very diversified, so when the property industry is said to be sluggish, we have little influence because of the variety of products," he explained.

He pointed out that cities were affected because prices of commodities were being destroyed such as Banjarmasin and Samarinda, but he said that they could be closed by the booming Ciputra Group products in Medan and Makassar. (AM/LM)

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PT. Ciputra Development Tbk [CTRA]   Rp. 915   -10 (-1.08%)