Jan 13, 2011

Astra to buy lands from Surya Semesta

Property developer PT Surya Semesta Internusa Tbk (SSIA), through its subsidiary PT Suryacipta Swadaya (SCS), the  industrial estate operator of Suryacipta City of Industry, in early 2011, has managed to secure buyers commitments for about 130 hectare area, of which 121 hectares will be purchased by PT Astra International Tbk.
As stated in the press release received by Bisnis today, SSIA expects that the commitments of Astra and its subsidiary involved in automotive business into Suryacipta City of Industry as an anchor tenant in 2011 will be followed by other producers of automotive parts and components, which should support the performance of SCS in the years to come.
A number of foreign-owned companies that have factories and plants in Suryacipta City of Industry include PT Bridgestone Tire (Japan), PT TVS Motor (India), PT Bekaert Indonesia (Belgium), PT JVC Electronics (Japan) and PT JTekt Indonesia (Japan).
Meanwhile, the local companies that have factories within the industrial estate include the producer of Kopi Kapal Api brand coffee, PT Santos Jaya Abadi; concrete manufacturer, PT Wijaya Karya Beton; ceramic producer, PT KIA; and automotive component maker, PT Pakoakuina.
Suryacipta City of Industry covers area of 1,400 hectares, with direct toll road access (1,300 meter). Located in Ciampel sub-district, Kerawang regency, West Java, Suryacipta City of Industry is being developed in three stages. In 2011, SCS plans to prepare the third stage of new industrial plots covering an area of 400 hectares.
The success of SCS in selling 130 hectares of industrial plots at the beginning of 2011 will have a significant impact on SSIA’s consolidated performance in 2011.
For 2010, SSIA expects to record total consolidated revenue of Rp1.6 trillion, a 7.8% increase from 2009; and to book a net consolidated profit of Rp110 billion, a 525% jump from Rp17.6 billion in 2009.
In 2011, SSIA estimates that its consolidated revenue will increase by 20% and its net profit will jump 30% from continuing operation. SSIA expects that the growth will be supported by its sales of industrial plots, as well as potential growth in the construction services and hotel sectors.
Disclosure: No position at the stock mentioned above.  

Print This Article

No comments: