JAKARTA – PT Jakarta Setiabudi Internasional Tbk (JSPT) would spend the capital expenditure (CapEx) of IDR 215 billion by the end of this year. Even more so, for the next five years, the company is set to allocate IDR 700 billion to its capital expenditure.
Asan Effendy, Corporate Secretary of Jakarta Setiabudi Internasional, revealed that most of the expenditure went to the Hyatt Regency Bali project and Andaz Bali project worth IDR 108 billion in total.
“Not all of the CapEx was spent on Hyatt Regency Bali that has been fully operating since 2019 and Andaz Bali this year because these projects have retention periods of one year, depending on the swiftness or slowness of the contractors to fix possible defects,” Effendy explained in detail through a public expose quoted on Wednesday (8/12).
The rest of the CapEx would be channelled to the Copylas residential project of IDR 29 billion, a property project in Deli Serdang of IDR 8 billion, Hyarta Eco Village project of IDR 12 billion, and retail construction in Mega Kuningan of IDR 38 billion.
“Those are several major components of the capital expenditure planned to be spent on by the of this year,” Effendy concluded. (LK/ZH)