VIVAnews - PT Lippo Karawaci Tbk. (LPKR) prepares budget of Rp 1 trillion (US$95.75 million) for capital expenditure (capex). The fund will be obtained from the outcome of bond issuance in US dollar valuing US$250 million.
"There is yet plan to neither issue bonds nor propose bank loans this year," said Lippo Karawaci Chief of Corporate Communications Danang Kemayan Jati in Jakarta on Tuesday, May 12.
Lippo Karawaci Director Ketut B Wijaya went on to say that consumers eye Kemang Village and Saint Moritz. Therefore, the company will prioritise in the development of both projects concerning mostly with matters on pre-sales.
In the first quarter of 2009, the company gained Rp 635 billion, a slight increase compared to 2008 with Rp 617 billion. The income from Housing and land development contributed 45 percent; health centers, 34 percent; and infrastructures, 21 percent.
Earnings before interest, tax, depreciation, and amortization (EBITDA) in that period grew to Rp 163 billion compared to 2008 with Rp 160 billion. Meanwhile, net profit booked Rp 103 billion, lower than the previous Rp 108 billion.
However, Lippo Karawaci will not share 2008 dividend due to global financial crisis.
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Translated by: Ariyantri E. Tarman
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