PT Matahari Putra Prima Tbk (MPPA) planned to open around 15 units of hypermarts till end of 2011. Over the period of January July this year, the company had built 5 hyermarts.
“Our focus this year was to expand hyermarts,” Director of Matahari Putra Prima Danny Konjogian disclosed in Jakarta on Tuesday night.
Danny stated that that the company had been aggressively opening around 19-20 hypermarts in various regions in Indonesia. The target locatons were around 65% in Java, 35 percent outside Java among other in Sumatra and Kalimantan. Five units being opened through this year were among others in Lippo Karawaci, Serang, Surabaya until Kediri. In the near future this Lippo-Group Affiliated Group planned to open hypermarks in Gresik, Kudus, and Sidoardjo.
So far, the company had possessed 55 hypermarkets in all of Indonesia. If target of this year were realized, the total number of hypermarkets by and of 2011 numbered 70 units. “In the following years we planned to expand by opening 8-10 hypermarkets a year” Danny remarked.
According to Danny, the total investment for corporate plan amounted to Rp trillion. So far for realization of the plan Rp300 billion of fund had been spent. The source of capital financing was internal cashbox “Investment for hypermarket business based on rental shopping amounted to Rp 40 to 50 billion” Danny remarked.
Today the company was in possession of cash amounting to Rp 2 trillion. In addition to that MPPA had standby facility amounting to Rp 1.8 trillion from 6 banks. Danny predicted that turnover through this year could exceed Rp 10 trillion, up by 25 percent against that of 2010 amounting to Rp 7.6 trillion. To support performance of semester I/2011 he estimated income would grow by 25 percent against same period of the previous year.