MIDI gathers IDR 1 trillion CapEx to establish new stores
JAKARTA. PT Midi Utama Indonesia Tbk (MIDI), the Alfamidi and Lawson minimarket chain owner, reserves funds for the capital expenditure (CapEx) worth IDR 1 trillion in 2021 to open new stores.
In public expose, the management specified that the amount of CapEx to be allotted to new stores’ development reaches 60% of the entire funds. “The rest would be used for extending the lease and renovating existing stores and warehouses,” the management added.
The CapEx would be taken from the company’s internal cash. According to idnfinancials.com data, by December 2020, MIDI owned cash and cash equivalent of IDR 238.32 billion. This number increased 4.02% from the record in 2019.
MIDI has opened 61 new stores during the first quarter of 2021. Additionally, the company also established two Alfamidi Super stores. MIDI aims to open 200 more stores by the end of this year. (KR/ZH)