Developer upbeat it can meet target<\/p>\n
Multa Fidrus, The Jakarta Post, Tangerang<\/p>\n
Publicly listed property developer PT Lippo Karawaci is confident
\nthat it can reach its targeted Rp 2.1 trillion (US$205.6 million)
\nrevenue and Rp 355 billion net profit.<\/p>\n
"Looking at our first half performance this year, we believe
\nthat we can reach the targets by year end," company president
\ndirector Viven G. Sitiabudi said at a press conference on Friday.<\/p>\n
In its unaudited financial statement, the company's sales as
\nof June 30 reached Rp 952 billion compared to Rp 713 billion in
\nthe corresponding period last year. Its net profit also increased
\nto Rp 171 billion from Rp 113 billion in the same period last
\nyear.<\/p>\n
Lucyanna Pandjaitan, the company's chief financial officer,
\nsaid the completion of some property projects -- Depok Town
\nSquare in West Java, Medan Grand Palladium in North Sumatra and
\nCity of Tomorrow in Surabaya -- along with income from other
\nbusiness units would help the company reach its targeted revenue.<\/p>\n
Lippo Karawaci currently manages three business units in the
\nareas of property, health care and hospitals, and infrastructure
\nand hospitality.<\/p>\n
Lucyanna said property has contributed 60 percent of the
\nearnings of the company while the remaining 40 percent came from
\nthe other two divisions.<\/p>\n
She cited increasing construction material prices -- as a
\nresult of the weakening rupiah and the March 1 fuel price hike --
\nwould not affect the company's ongoing property projects as they
\nnear completion.<\/p>\n
"As we don't use much imported components for the construction
\nprojects, the finishing cost is relatively small," she said.<\/p>\n
The company's optimism in the growing property sector is
\nreflected in its plan to launch more property projects including
\nthe Kemang village housing project, Depok apartment project, a
\ntown development project in Cikarang, all in the Greater Jakarta,
\nand Tanjung Bunga housing project in Makassar, South Sulawesi.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/developer-upbeat-it-can-meet-target-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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