MNC Land (KPIG) plan to issue medium term notes (MTN) worth Rp500 billion with tenor of 3-5 years in fourth quarter of this year, used to fund its property prjects this year. KPIG allocates Rp2.5 trillion for its capital expenditure (capex) this year, funded by banks loan (70%).
KPIG’s projects include renovations of Lido Hotel, Park Hyatt Hotel Jakarta, and One East Residence-Oakwood apartment in Surabaya. Other projects are Lido gold field, Lido theme park, and Trump Hotel, also gold field, villas, and residences in Bali.
