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Thursday, June 30, 2011

PT Lamicitra Nusantara Tbk - Pospone Mall Project in Surabaya

Property project developer based in Surabaya, PT Lamicitra Nusantara Tbk postpone plans to increase mall in Surabaya with the allocation of costs as much as Rp250 billion in 2011 due to the remapping of market segmentation. Director of Operations Lamicitra Nusantara, Robin Wijaya said the Red Bridge Plaza mall development (JMP) III yet to be implemented in 2011. The Company will first examine the market by cooperating with some consultants.

"The Company formally postpone the construction of JMP III decision general meeting of shareholders," he said after the annual shareholders' meeting in Jakarta.

Based on the study consultant, Robin explained, the company will direct more development JMP III in the wholesale sector. Mall was built in the area of ​​North Jakarta that would meet about 70% of the wholesale segment, the rest for retail. Red Bridge Plaza III is the continued expansion of the shopping center already operating previously.

"Retail market are met at JMP JMP I and II with an average occupancy rate of 90%," he said.

Company's non-share dividends in fiscal year 2010, JMP III thwart the construction of malls already built its foundation. Company waiting for the right momentum to continue the construction of the mall.

"If an existing mapping, the build only takes approximately one year," continued Robin.

Meanwhile, the quarterly financial statements / I in 2011 recorded the performance of the company's stock is coded Lami posted a revenue of Rp31, 17 billion, higher than the 2009 period which only amounted to Rp29, 77 billion. As to post a net profit, the company recorded total Rp6, 14 billion higher than the previous year which is only Rp 4, 41miliar.

Director Lamicitra Setyo Priyo Budi added quarterly operating expenses / I 2011 enterprise developer with assets of less than Rp 2 trillion was recorded Rp9, 53 billion or higher than the previous year Rp8, 84 billion.

"In 2011, the company will not be budgeted capital expenditure / capital expenditure because it will only focus on selling," he said.

Lamicitra, shocking words, able to record revenues from hotel services, he said, increased to Rp9, 6 billion from Rp 8, 6 billion in the quarter I/2010.

Competition and wholesale shopping center in Surabaya are now more stringent. However, there is still a niche market, because each developer offers a different concept.

"It is planned that the realization of the Red Bridge Plaza III funding come from internal cash and bank loans," he continued.

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