JAKARTA - PT Bukit Uluwatu Villa Tbk (BUVA), a company engages in tourism, restaurants, and hotels allocated a capital expenditure (CapEx) of Rp. 400-Rp. 450 billion for 2019. The CapEx will be used to finish the construction of Alila Sudirman Central Business District (CBD), Jakarta and business expansion.
Hendry Utomo, Director of PT Bukit Uluwatu Villa Tbk (BUVA) said that the company would continue its CBD project in Jakarta. "Capital expenditure is allocated around Rp. 400 billion, however, the exact number of the budget depends on the planned refinancing program," he said in Jakarta.
Buva is developing three hotels located in Bintan, Riau; Magelang, Central Java; and Manado, North Sulawesi. "The project in Bintan is suitable for the company's business strategy," he added.
In 2018, the company allocated capital expenditure of Rp 200 billion. (LK/AR)