Retail operator Matahari Putra Prima is maintaining its capital expenditure this year in order to continue expansion in the eastern part of Indonesia.
The company has allocated IDR500 billion to IDR690 billion (USD38 million to USD52 million) to open between 32 to 45 stores this year. This will include up to seven hypermarts, four Foodmart grocery stores, 15 Foodmart Xpress, four Smart Club wholesale stores and 15 Boston Health and Beauty stores.
The company plans to open new stores in eastern parts of Indonesia like Papua and Sulawesi islands and hopes to increase their presence in these areas by 40 percent, according to Danny Kojongian, director of corporate communication at Matahari Putra Prima. Matahari Putra Prima has been expanding to the east in the past few years in order to tap into the faster economic growth in these regions.
(Source: Jakarta Globe)