JAKARTA - PT Mega Manunggal Property Tbk (MMLP) is planning to spend its remaining capital expenditure (capex) of Rp 700 billion in the next two years. This year, the company budgeted Rp 1.2 trillion in capex with realisation of Rp 500 billion.
In the company's public expose sheet, MMLP Head of Corporate Finance and Investor Relation Asa Siahaan said that the company's capex in 2020 will be used to build four to five warehouses in several strategic locations. "This year's capex is estimated to run out in 2020 and 2021," he said.
With the addition of five new buildings, MMLP is optimistic it can record Rp 250 billion in revenue. In addition, the revenue will also come from the acknowledgement of revenue from new warehouses in a year.
Buildings currrently being developed by the company include one in Depok rented by Lazada for 10 years; a warehouse in Delta Silicon III Cikarang rented by DHL for 10 years; and warehouses in Pondok Ungu, Jababeka, and Manyar. (LK/MS)