JAKARTA - PT Midi Utama Indonesia Tbk (MIDI), the manager of Alfamidi's modern retail, is preparing IDR 373.55 billion for capital expenditure. The source of capital expenditure is planned from the proceeds from the rights issue of IDR 1.24 trillion.

In an information disclosure quoted on Thursday (13/7), the issuer allocated 30% of the rights issue proceeds for capital expenditures with a composition of 65% or IDR 242.80 billion for outlet development and the remaining 35% or IDR 134.74 billion to support the remaining financing. construction of warehouses in Central Java, Southeast Sulawesi and North Sulawesi.

MIDI is building a warehouse in Baruga, Kendari, Southeast Sulawesi worth IDR 63.15 billion. As of March 2023, this issuer has paid IDR 20.84 billion. The project contractor is PT Reka Mulia Construction (RMK), a non-affiliated company.

The construction of a warehouse in Boyolali, Central Java, was valued at IDR  68.40 billion, of which IDR 49.66 billion was paid to the contractor, PT Mitra Anugerahjaya (MA). (LK/LM)