JAKARTA. PT Victoria Care Indonesia Tbk (VICI), a cosmetic and bath product manufacturer, has acquired a landbank for IDR 17 billion, which will be utilised for warehouse and operational office purposes.  

The management of VICI reveals that said piece of land is located on Sidoarjo, East Java. Its area reaches 1,588 square metres.

The land was bought by VICI from PT Suka Sukses Sejati (SSS). For the record, they are affiliated through the shared management and controlling shareholder.

"The affiliate transaction has been carried out according to common and reasonable business practices (arm-length transaction), thus allowing for no conflict of economical interests," the management of VICI continued.

According to IDNFinancials data, VICI is aiming for revenue and net profit to grow by double digit this year. In order to attain this target, the company allocates capital expenditure of IDR 83 billion. (KR/ZH)