ACES - PT. Ace Hardware Indonesia Tbk

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JAKARTA. PT Ace Hardware Indonesia Tbk (ACES), a retail company under Kawan Lama Group, plans to open up the first new outlet this year in Surabaya, East Java.

Helen Tanzil, Corporate Secretary of ACES, reveals that the said new store will be located in Margorejo. This outlet will have a total area of approximately 700 square metres.

“Thus, the company will have a total of 217 stores,” Tanzil concludes in the information disclosure today (18/1).

The total amount of investment made by ACES to establish the said store has yet to be disclosed. However, based on idnfinancials.com data, the company has allocated IDR 200 billion to its capital expenditure this year.

For the record, ACES inaugurated 13 new outlets in 2021. The said number was lower than the newly established stores in 2020 of 203 units. (KR/ZH)