JAKARTA. PT Matahari Department Store Tbk (LPPF) has opened its ninth and latest store in Bassura Mall, East Jakarta, yesterday (15/12). It also plans to introduce another outlet, its tenth, in Icon Mall, Gresik, East Java today (16/12).
Terry O’Connor, CEO of LPPF, claimed that the establishment of both new stores will raise the number of outlets opened in 2022. “We are glad to have established our presence in 10 new locations in 2022,” he said in the press release.
“These two stores will reinforce our position as a progressive retailer that creates work and economic opportunities across Indonesia,” O’Connor stated further.
O’Connor also added that LPPF chooses Bassura Mall and Icon Mall for the new locations of the stores after considering its strategic potentials. Bassura Mall itself is connecting South Jakarta, East Jakarta, and Bekasi. Meanwhile, Icon Mall is located near toll gate, main road, and downtown city.
The amount of investment for these new outlets is not publicly disclosed by LPPF. However, based on IDNFinancials data, the company recorded having cash and cash equivalent of IDR 212.91 billion at the end of September 30, 2022. Meanwhile, its total assets and equity clocked up to IDR 5.45 billion and IDR 429.19 billion, respectively. (KR/ZH)