Wed, 16 Jan 2008
From: The Jakarta Post
By The Jakarta Post, Jakarta
Publicly listed property company PT Ciputra Property plans to invest Rp 7 trillion (US$747.36 million) on an integrated shopping mall, hotel and apartment project in Jakarta.

President director Candra Ciputra said Tuesday the project would underline the reputation of the Ciputra Group as one of the country's main property companies.

"The total investment for the project is realistic as we have in our possession some Rp 2 trillion in internal cash, and assets worth Rp 8 trillion," said Candra during a groundbreaking ceremony for the project.

He said the firm would only seek Rp 230 billion in loans for the development.

The project, dubbed "Ciputra World", is expected to be completed in 2010, with the company spending some $300 million for the first phase of construction.

Located on Jl. Prof. Dr. Satrio in South Jakarta, the project is expected to be wrapped up in three phases.

According to the firm's director, Artadinata Djangkar, some Rp 400 billion will be spent this year on the development.

"Through an initial public offering back in November last year, our company raised 2.1 trillion in proceeds. Some Rp 1.6 trillion of that will be used to finance the project," he said.

As a result of the new project, the company expects to triple its revenue to some Rp 750 billion this year, up from Rp 280 billion last year and Rp 268.87 billion in 2006, he said.

"Our revenue is mainly from leasing apartment units, mall outlets and hotel chains. Our average annual growth revenue is around 6 percent. But this year we're expecting more revenue from this new project," said Artadinata.

Ciputra World, which will be built on 5.5 hectares of land, will consist of a six-floor shopping mall, 290 apartments, a 200-room hotel, with 80 luxury apartments on its top floors, as well as office space and a five-story parking lot.

"One hundred and fifty of the apartment units are for leasing, and 140 units for selling. The price tag for will be around Rp 2 billion each," said Artadinata.

Ciputra Property owns Ciputra Mall & Hotel in West Jakarta and Semarang, and Apartment Somerset Grand Citra in South Jakarta.

The company recorded a profit of Rp 41.47 billion last year, up by 21.6 percent from Rp 34.09 billion in 2006.

Around 51.05 percent of the company's shares are owned by PT Ciputra Development, 0.01 percent by PT Ciputra Graha Mitra and 48.94 percent by the public. (nkn)



News Search/Filter
Transaction Rates
23 May 18
Buy
Sell
AED1
3,851.08
3,851.08
AFN1
197.44
197.44
ALL1
131.46
131.46
AMD1
29.27
29.27
ANG1
7,882.61
7,882.61
AOA1
60.50
60.50
ARS1
580.68
580.68
AUD1
10,745.79
10,745.79
AWG1
7,904.79
7,904.79
AZN1
8,308.75
8,308.75
BAM1
8,543.87
8,543.87
BBD1
7,072.82
7,072.82
BDT1
167.40
167.40
BGN1
8,522.71
8,522.71
BHD1
37,457.04
37,457.04
BIF1
7.90
7.90
BMD1
14,145.65
14,145.65
BND1
10,506.63
10,506.63
BOB1
2,047.69
2,047.69
BRL1
3,859.48
3,859.48
BSD1
14,145.65
14,145.65
BTC1
111,433,632
111,433,632
BTN1
207.90
207.90
BWP1
1,422.67
1,422.67
BYN1
7,094.25
7,094.25
BZD1
7,039.53
7,039.53
CAD1
11,036.86
11,036.86
CDF1
8.75
8.75
CHF1
14,218.85
14,218.85
CLF1
613,162.30
613,162.30
CLP1
22.47
22.47
CNH1
2,228.15
2,228.15
CNY1
2,221.81
2,221.81
COP1
4.91
4.91
CRC1
25.02
25.02
CUC1
14,145.65
14,145.65
CUP1
554.73
554.73
CVE1
150.64
150.64
CZK1
648.52
648.52
DJF1
79.46
79.46
DKK1
2,238.44
2,238.44
DOP1
286.11
286.11
DZD1
121.81
121.81
EGP1
788.84
788.84
ERN1
943.27
943.27
ETB1
514.01
514.01
EUR1
16,670.69
16,670.69
FJD1
6,812.42
6,812.42
FKP1
19,018.62
19,018.62
GBP1
19,018.62
19,018.62
GEL1
5,790.99
5,790.99
GGP1
19,018.62
19,018.62
GHS1
3,051.06
3,051.06
GIP1
19,018.62
19,018.62
GMD1
299.95
299.95
GNF1
1.57
1.57
GTQ1
1,901.14
1,901.14
GYD1
67.85
67.85
HKD1
1,802.12
1,802.12
HNL1
594.51
594.51
HRK1
2,256.37
2,256.37
HTG1
220.82
220.82
HUF1
52.40
52.40
IDR1
1.00
1.00
ILS1
3,967.23
3,967.23
IMP1
19,018.62
19,018.62
INR1
207.95
207.95
IQD1
11.85
11.85
IRR1
0.33
0.33
ISK1
134.85
134.85
JEP1
19,018.62
19,018.62
JMD1
112.49
112.49
JOD1
19,934.49
19,934.49
JPY1
127.74
127.74
KES1
140.28
140.28
KGS1
206.74
206.74
KHR1
3.47
3.47
KMF1
33.87
33.87
KPW1
15.71
15.71
KRW1
13.15
13.15
KWD1
46,830.61
46,830.61
KYD1
16,978.80
16,978.80
KZT1
43.27
43.27
LAK1
1.69
1.69
LBP1
9.35
9.35
LKR1
89.58
89.58
LRD1
105.37
105.37
LSL1
1,116.90
1,116.90
LYD1
10,401.21
10,401.21
MAD1
1,498.28
1,498.28
MDL1
845.41
845.41
MGA1
4.36
4.36
MKD1
270.73
270.73
MMK1
10.43
10.43
MNT1
5.88
5.88
MOP1
1,750.25
1,750.25
MRO1
39.79
39.79
MRU1
395.90
395.90
MUR1
411.22
411.22
MVR1
912.04
912.04
MWK1
19.64
19.64
MXN1
716.83
716.83
MYR1
3,564.93
3,564.93
MZN1
233.23
233.23
NAD1
1,116.90
1,116.90
NGN1
39.18
39.18
NIO1
449.42
449.42
NOK1
1,758.32
1,758.32
NPR1
129.95
129.95
NZD1
9,822.33
9,822.33
OMR1
36,740.33
36,740.33
PAB1
14,145.65
14,145.65
PEN1
4,308.96
4,308.96
PGK1
4,323.57
4,323.57
PHP1
270.64
270.64
PKR1
122.31
122.31
PLN1
3,891.56
3,891.56
PYG1
2.51
2.51
QAR1
3,884.58
3,884.58
RON1
3,602.11
3,602.11
RSD1
141.00
141.00
RUB1
231.28
231.28
RWF1
16.44
16.44
SAR1
3,771.24
3,771.24
SBD1
1,802.12
1,802.12
SCR1
1,051.41
1,051.41
SDG1
785.43
785.43
SEK1
1,632.64
1,632.64
SGD1
10,566.72
10,566.72
SHP1
19,018.62
19,018.62
SLL1
1.81
1.81
SOS1
24.73
24.73
SRD1
1,894.16
1,894.16
SSP1
108.59
108.59
STD1
0.68
0.68
STN1
677.47
677.47
SVC1
1,617.03
1,617.03
SYP1
27.46
27.46
SZL1
1,116.24
1,116.24
THB1
442.25
442.25
TJS1
1,574.75
1,574.75
TMT1
4,030.12
4,030.12
TND1
5,596.01
5,596.01
TOP1
6,205.27
6,205.27
TRY1
3,050.12
3,050.12
TTD1
2,099.52
2,099.52
TWD1
473.59
473.59
TZS1
6.19
6.19
UAH1
543.24
543.24
UGX1
3.79
3.79
USD1
14,145.65
14,145.65
UYU1
450.84
450.84
UZS1
1.76
1.76
VEF1
0.20
0.20
VND1
0.62
0.62
VUV1
132.14
132.14
WST1
5,506.54
5,506.54
XAF1
25.41
25.41
XAG1
235,492.99
235,492.99
XAU1
18,310,104.52
18,310,104.52
XCD1
5,234.18
5,234.18
XDR1
20,161.76
20,161.76
XOF1
25.41
25.41
XPD1
14,216,309.40
14,216,309.40
XPF1
139.70
139.70
XPT1
12,844,156.02
12,844,156.02
YER1
56.45
56.45
ZAR1
1,125.20
1,125.20
ZMW1
1,385.12
1,385.12
ZWL1
43.88
43.88
Taxation Exchange Rates
31 Aug 16 - 06 Sep 16
USD 1
13,232.00
AUD 1
10,043.30
CAD 1
10,213.70
DKK 1
1,999.40
HKD 1
1,706.22
MYR 1
3,283.28
NZD 1
9,623.63
NOK 1
1,605.23
GBP 1
17,433.70
SGD 1
9,757.68
SEK 1
1,569.45
CHF 1
13,631.10
JPY 100
13,101.00
MMK 1
11.01
INR 1
197.29
KWD 1
43,920.70
PKR 1
126.23
PHP 1
285.00
SAR 1
3,528.53
LKR 1
91.12
THB 1
382.08
BND 1
9,756.53
EUR 1
14,885.50
CNY 1
1,987.61

Okusi Associates: Indonesian Business & Management Services