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SSIA SOLD 15.6 Ha LAND SALES, ACHIEVED 104% 2019 TARGET
JAKARTA, 4 SEPTEMBER 2019 ‐ PT Surya Semesta Internusa Tbk (idx: SSIA) achieved 15.6 hectares land sales with total value of Rp261 billion (US$/Rp: Rp14,000) from its land bank located at Suryacipta City of Industry, Karawang. The land sales figure exceeded the 2019 land sales target of 15 hectares. Meanwhile, the average land sales was at US$ 119.7 per sqm. This land sales also has exceeded land sales achievement in 2018 which was 8.6 ha. The Company is optimistic that by the end of the year, SSIA property business unit is expected to contribute around 15% of its total revenue.
"Our land sales were driven by Indonesia's economic climate which was getting better post the election period. Indonesia's stable political conditions mainly after the Presidential appointment as well as the Government macroeconomic policies which favored Indonesia’s business in general, have accelerated industrial estates' investment and business. The Company is convinced to achieve its 2019 target, "said SSIA Head of Investor Relations Erlin Budiman.
Indonesian investment realization in quarter II / 2019 had been experiencing an increase. According to Indonesian Investment Coordinating Board (BKPM), investment realization for the second quarter of 2019 reached Rp200.5 trillion, an increase of 13.7% compared to the same period in 2018. The total investment, contributed 25.3% to the 2019 target , which is amounting to Rp792 trillion. In addition, the lower interest rates announced by Bank Indonesia had a positive impact on the Indonesia economic growth.
Erlin explained, one of the Company's strategies in the second semester of 2019 was to remain focused on the Subang City of Industry Industrial Estate development. The Company is targeting to acquire 160 hectares of Subang City of Industry this year and by semester I / 2019, the Company has acquired 60 hectares of land. For information, until the end of 2018, SSIA has owned Subang landbank of 1,053 ha from the total 2,000 ha targeted by the Company. The remaining 1,000 ha will be acquired withinthree to four years.
To accelerate the development of the Subang City of Industry Industrial Estate, on 28August 2019, SSIA has signed a loan agreement commitment between the Company and its subsidiary, PT Suryacipta Swadaya (SCS) as an industrial estate developer. SCS will utilize the loan commitment for the Phase I construction of Subang City of Industry. The loan provided to SCS was obtained by SSIA from a loan commitment from the International Finance Corporation (IFC) signed on 31 May 2018, with a loan value of up to US$100 million. SSIA plans to disburse the loan in stages as required.
About PT Surya Semesta Internusa Tbk (SSIA)
SSIA, formerly known as PT Multi Investments Limited, was established on 15 June 1971, the Company then transformed into PT Surya Semesta Internusa (“SSIA”) in 1995. SSIA’s main businesses are industrial estate & real estate development, construction and hospitality.
SSIA’s diversified investment portfolio primarily includes Suryacipta City of Industry, SLP Karawang, Graha Surya Internusa (not in operation, to be redeveloped into SSI tower), Gran Melia Jakarta Hotel, Melia Bali Hotel, Banyan Tree Ungasan Resort Bali, and BATIQA Hotels.
For more than 40 years in the property business, SSIA has strengthened its brand recognition and placed it as one of the strongest developer companies in Indonesia. Completing its milestone as a leading company, SSIA recorded its shares at Indonesia Stock Exchange and became a listed company on 27 March 1997. For more information, visit www.suryainternusa.com.