JAKARTA – PT Pakuwon Jati Tbk (PWON) is preparing a substantial capital expenditure (capex) for 2025 to support its expansion strategy.

Ivy Wong, Director of Business Development at PWON, mentioned that the company has not allocated a particularly large capex for this year, as it will only adjust to the requirements of the ongoing project developments.

"We have planned below IDR 3 trillion," Ivy said in response to a question from IDNFinancials.com during the PWON Meet & Greet with CGS International Sekuritas Indonesia on Thursday (27/2).

She added that the capex allocation will depend on PWON's expansion needs. As construction projects reach their peak period, the company is prepared to spend even more, potentially up to IDR 4 trillion.

"It will continue to rise when we are at the peak construction stage," Ivy explained.

The capex funding for this year will still primarily rely on the company’s internal cash reserves. According to data from IDNFinancials.com, as of 30 September 2024, PWON had cash and cash equivalents totalling IDR 8.77 trillion.

Notably, PWON plans to continue developing two international chain hotels in Bekasi this year. These are the Four Points by Sheraton and Fairfield by Marriott, which are integrated into the Pakuwon Mall Bekasi superblock area.

"We will build two hotels, the biggest in Bekasi," Ivy added. (KR)