Wednesday, December 2, 2009

Bakrieland Revenue Grows 35% Targeted


PT Bakrieland Development Tbk (ELTY) target revenue grew approximately 35 percent or Rp1, 3 trillion and Rp1, 4 trillion in 2010.

"Revenue of approximately 75 percent of City property and landed residence and the remaining 20 percent of the hotel," said Director of Finance ELTY Sadeli Ferdinand, as public exposure at Investor Summit 2009, at the Ritz Carlton, Jakarta, Wednesday (2/12/2009) .

In addition, the company's capital expenditures budgeted approximately Rp2 trillion and Rp2, 5 trillion in 2010. Where approximately Rp1 trillion will be used for highways and approximately Rp1, 2 trillion for the property. "Rasuna 50 percent of the epicenter, and the rest to Bogor Residence, Bali," said Ferdinand.

Director ELTY Hiramsyah Thaib said, is still waiting for the payment of limitless liability for the divestment of 30 percent stake in a subsidiary of USD110 million worth of payments have been paid in part. "It is estimated to be completed in the first quarter of 2010," said Hiramsyah.

Hiramsyah added, Rasuna project has been delayed because the epicenter was concentrated on 4 other projects. Second quarter expected to be completed-2010.

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