JAKARTA. PT PP Properti Tbk (PPRO) is collaborating with Bank Tabungan Negara (BTN) to build landed houses and apartments in the second semester of 2019. The collaboration is in an effort to accelerate cash in and tighten capital expenditure realization.
"While to increase cash in with an interest rate of 5%, we arrange it so that customers become more interested in KPA compared to installment payments. We are collaborating with BTN for this," said Nanang Siswanto, Independent Director and Director of Business Development and HCM at PPRO at BEI on Monday (26/8)
PPRO conveyed that the action to tighten the realization of CapEx was carried out by making use of self-owned land by building residential properties such as landed houses and become more selective in the development of new projects.
By the end of the first semester of 2019, PPRO has increased the flow of working capital or CapEx from Rp 1 trillion to Rp 1.2 trillion, and only 40% of it (around Rp 400 billion) has been absorbed. (AM/AR)