JAKARTA: Indonesia publicly listed property company, PT Royal Oak Develoment Tbk seeks loan facility amounting IDR500 billion to finance this year’s capital expenditure worth IDR1 trillion.
President Director of Royal Oak Development Nio Yantony said the company has secured commitments from several bank, but they have not yet finalized.
“Capital expenditure of IDR1 trillion will be used for construction projects this year. The amount is 50% of the total capital expenditure,” he said after general meeting of shareholders yesterday.
This year, the company will start the construction of Grand Kemayoran, Botanical Residence and Lebak Lestari. (T03/msw)