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ISSUER NEWS - JAKARTA. The warehouse property developer issuer, PT Vastland Indonesia Tbk (VAST) this year is preparing an estimated total maintenance capital expenditure (capex) of around IDR 1 billion - IDR 2 billion.
"After the warehouse expansion in Tangerang, Vastland is targeting a company revenue increase of about 30%," said VAST Financial Director Stanley V Gunawan in his official statement, Monday (29/1).
During 2023, VAST continues to record positive results with revenue growth of 9.9% QoQ in the third quarter of 23. Their net profit also increased more significantly by 77.7% QoQ from IDR 1.9 billion in the second quarter of 2023 to IDR 3.3 billion in the same quarter.
In addition to the built-to-suit warehouses that provide benefits for users in terms of location, design, and warehouse layout, VAST also provides high-quality general warehouses that often become customer favorites during high-volume seasons (Peak Season).
Stanley added, with capabilities and experience of more than 10 years, Vastland now has more than 25 warehouses (built to suit and general warehouse) spread across 8 regions in Indonesia with a total of nearly 20 tenants/renters.
Vastland serves customers in various industrial sectors, ranging from Fast Moving Consumer Goods (FMCG), commodity trading, 3PL (Third Party Logistics) providers, who have been using the company's warehouse properties and services for more than 10 years.
VAST operates in locations spread across 5 (five) Provinces on Sumatra Island and 2 Provinces on Java Island, including the Jabodetabek area.
