JAKARTA. PT Bima Sakti Pertiwi Tbk (PAMG) this year will focus on land acquisition and renovation improvements. For this reason, the company has budgeted a capital expenditure of Rp 24.86 billion.
Bima Sakti Pertiwi Corporate Secretary Riza Budi explained that the progress of land acquisition carried out by PAMG is quite good. "Only a few [owned by the community] are still in the negotiation process. Our target for the first semester of 2021 has been completed," he explained as quoted by Kontan.co.id.
The capex funds for land acquisition and renovation come from the company's recent IPO.
As a company that manages shopping centers and hotels, the Covid-19 pandemic is a very influential constraint on performance with a decline in visitors of around 50% and a reduction in hotel guests. So that Riza has not been able to determine the projected performance this year. (AM/LM)