Multipolar to Open Hypermart Stores in China
25 April 2013 19:00 WIB
TEMPO.CO, Jakarta - PT Multipolar Tbk (IDX: MLPL), a listed company engaged in investment, is planning to expand its businesses to China. Multipolar director Reynold P. Ong said the company plans to open three to four Hypermart and Robinson stores.
"The investment to open up four stores is estimated at US$15 million to US$18 million. For this year we are focusing on Hypermart Indonesia first," he said. Reynold did not say when the expansion target will be actualized.
The company is sourcing 69 percent of the investment fund from its internal cash. The remainder will be sourced from its working capital.
This year, the company is allotting Rp1.5 trillion for capital expenditure. As many as Rp650 billion will be used to construct Hypermart stores and the rest is allocated for the development of the company's information technology systems.
RIRIN AGUSTIA | ABDUL MALIK
