ICON Prepares Rp80 Billion for Hotel Expansion
Submitted by edhie-rianto on Thu, 01/26/2012 - 13:17
CATERING services provider and property-related company PT Island Concepts Indonesia Tbk is planning to enter hospitality and construction business through acquisitions by this year. The company has set Rp80 billion to meet the target.
According to stated Corporate Secretary I Putu Widya Laksana Pendit as quoted from bisnis.com recently said we set Rp20 billion to acquire The Hills Villas. For other acquisitions, we have repared Rp60 billion. Besides acquiring Hills Villas in Nusa Dua, Bali, the ICON-coded company will also acquire Azur Point in Padang Bay, Bali.
To enter construction sector, ICON will acquire Pulau Mas Utama and is eyeing to become the operator of Bali Island Villas II project.
To finance the corporate actions, the company is planning to conduct rights issue in the second quarter of 2012 to pocket IDR80 billion with Trust Securities as the underwriter. Revenue in 2012 is expected to reach Rp110 billion while eyeing Rp14.4 billion net income. [photo special]
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