Matahari to open 17 new outlets this year

The Jakarta Post, Jakarta | Mon, 02/14/2011

PT Matahari Putra Prima (MPPA) intends to open 17 new Hypermart outlets,  director of corporate communications and investor relations Danny Kojongian said Monday.

He said the company would start opening new outlets this year, with expansion concentrated in eastern Indonesia.

MPPA runs two main businesses: Matahari Department Store (MDS) and Matahari Food Business (MFB). MFP runs several companies, including Hypermart, Foodmart and medical store Boston. Hypermart currently has 51 outlets in 29 cities in Sumatra, Java, Kalimantan and Bali.

"We also plan to open several outlets in Papua next year," he said as quoted by tempointeraktif.com.

PT MPPA financial director Hendra Sidin further added that the expansion would cost Rp 1 trillion (US$ 112 million), which would come from internal capital.

"The cash from divestment is still sufficient," he said.