JAKARTA. PT Jakarta Urban Propertindo increased its capital expenditure fund allocation for the company's acquisition plan, to Rp 342.1 billion from Rp 215.78 billion.
Tri Rachman Batara, Corporate Secretary of Jakarta Urban Propertindo, explained as of December 31, 2018 the IPO realization value was noted Rp 423.18 billion. From that figure, as much as Rp 215.77 billion or 50.99% was used for land acquisition. Then, Rp 129.46 billion or 30.59% is used for land development and the remaining Rp 77.95 billion or 18.42% is used for working capital.
However, with the company's development plan, the stipulated budget is considered to be unable to optimally support, especially related to the company's acquisition plan. "So we applied for approval to expand the scope of not only land, but also companies," he said in Jakarta, Thursday (5/9).
Therefore, in the Extraordinary General Meeting of Shareholders (EGMS) the company has been granted approval to expand the scope of not only land acquisition but also property projects and companies. This also has an impact on changes in the budget plan for land acquisition or project or company change to Rp 342.06 billion or equivalent to 80.83%.
Then, for land development, it will change to Rp 26.27 billion or equivalent to 6.21%. Furthermore, for working capital also up to Rp 54.84 billion or equivalent to 12.96%. (AM/LM)