JAKARTA. Matahari Department Store has opened a new store in Padang, West Sumatra, as part of the company’s aggressive expansion plan this year. Matahari, which is listed on the bourse under the code LPPF, opened on Sunday the new outlet with a total area of 7,300 square meters at Sentral Pasar Raya Plaza, bringing its total outlets to 131. “The capital expenditure for each new Matahari store ranges between Rp 20 billion [US$1.6 million] and Rp 30 billion, with the funds coming from internal cash,” the company said in a statement published on the Indonesia Stock Exchange (IDX) on Monday.
Matahari opens new store in Padang
JAKARTA. Matahari Department Store has opened a new store in Padang, West Sumatra, as part of the company’s aggressive expansion plan this year. Matahari, which is listed on the bourse under the code LPPF, opened on Sunday the new outlet with a total area of 7,300 square meters at Sentral Pasar Raya Plaza, bringing its total outlets to 131. “The capital expenditure for each new Matahari store ranges between Rp 20 billion [US$1.6 million] and Rp 30 billion, with the funds coming from internal cash,” the company said in a statement published on the Indonesia Stock Exchange (IDX) on Monday.