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Friday, August 19, 2011

Matahari Putra Prima Tbk- Wil Built 20 Hypermart Stores This Year

PT Matahari Putra Prima Tbk (MPPA) is optimistic to achieve performance targets in 2011. Retail company is targeting revenue of Rp 10 trillion this year. MPPA Hypermart is still a mainstay in the printing of money, with a target contribution of Rp 9 trillion, or about 90%.

"We are convinced that the target end of the year reached Rp 10 trillion and that figure is an increase over last year," said Danny Konjongian, MPPA Director of Corporate Communications, on Thursday (18 / 8).

For your information, MPPA recorded a revenue of Rp 8.5 trillion at the end of 2010. From these values, amounting to Rp 7.6 trillion was contributed by Hypermart.

MPPA managers optimistic revenue targets could be achieved because it is a subsidiary of Lippo Group will aggressively opening new stores Hypermart. The target, there were 20 new outlets throughout the year. Target is true is higher than the previous plan of 13 outlets, which was revised to 17 outlets.

"This year we have opened five outlets. They are at the North of Lippo, Serang, Surabaya, Kediri and there is one more that I forgot," explained Danny. That means, throughout the second half of this, the opening Hypermart MPPA will boost up to 14 outlets.

Vendor eyeing several new locations to open stores this Hypermart. For example in Java, the company targeted the location of Gresik and Sidoarjo.

To build all these outlets, the total required investment of Rp 1 trillion. Throughout the first six months of 2011, the company is already using the fund amounting to Rp 300 billion.

Until last semester, MPPA has a total of 55 outlets Hypermart. If the target addition of these outlets can be met, the company will have 69 outlets across Indonesia Hypermart.

According to Danny, the entire requirement of funds will be covered by internal cash. MPPA bag is still full. As of late June, the total cash MPPA reach USD 2 trillion. That money was the proceeds MPPA ownership in PT Matahari Department Store, in early 2010.

MPPA also still bagging debt commitments, in the form of standby loans. Total value of loans promised by the seven local banks to the MMPA Rp 1.8 trillion. However, bru-MPPA did not intend to disburse the loan quickly. "The company will use it if needed," ata Danny. The seven local banks which already provide standby facility include Bank Danamon and Bank Mandiri.

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