Property developer PT Lippo Karawaci plans to spend $650 million on capital expenditure this year, up 8 percent from last year, said CEO Ketut Budi Wijaya.
The funds will be used to complete development of five hospitals and four shopping malls. The company is also optimistic about achieving its 2014 revenue target of 10.5 trillion rupiah ($902.8 million), up 59 percent from a year earlier. (Investor Daily)
Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 11630.0000 Indonesian Rupiahs) (Compiled by Jakarta Newsroom; Editing by Gopakumar Warrier)