The real estate company owned by Sinarmas Group, PT Puradelta Lestari Tbk (IDX: DMAS), announced to distribute interim dividends with total amount Rp1.20 trillion (US$86 million) or Rp25 a share - Photo by the Company

JAKARTA (TheInsiderStories) – The real estate company owned by Sinarmas Group, PT Puradelta Lestari Tbk (IDX: DMAS), announced to distribute interim dividends with total amount Rp1.20 trillion (US$86 million) or Rp25 a share. The dividend payment will be made on Dec. 18, 2020.

Currently, said the director, Tondy Suwanto, the unit of Sinar Mas is eyeing an opportunities from the relocation plans by Chinese and Japanese firms to Indonesia. The company also looking new investors who have interest to invests in the country.

He revealed, until the end of firs half of 2020, the demand for industrial land still high and came from various sectors, such as automotive and its derivatives, warehousing or logistics, data centers, and other sectors. 60 percent of them are foreign investors, said the director.

As of June 30, Deltamas, one of the company’ project, still has an industrial land bank of 423 hectares. In total, the real estate firm has a land bank of 1,293 hectares and still sufficient for the next seven to eight years. In the second quarter of 2020, the issuer has able to sell 51 hectares of land to the automotive company alsodata and information centers.

Puradelta engaged in housing dan other properties and started its commercial operations in April 2003. Now, the developer managed PT Pembangunan Deltamas and Le Premier Hotel, in Bekasi, West Java, with total development areas around 3,200 hectares.

Majority shareholders of Puradelta owned by PT Sumber Arusmulia (57.28 percent), the unit of Singapore’ Sinar Mas Land Ltd., and Sojitz Corporation (25.00 percent), a Japanese general trading company. Recently, the parent joined wit Japan Overseas Infrastructure Investment Co., (JOIN) formed a joint venture company (JVC), JOIN SML Investment Partners Pte. Ltd..

Both parties has injected fresh capital $2 million in the new entity with 50:50 ownerships. President director and CEO of JOIN, Tatsuhiko Takesada, said the company keep looking overseas projects and bringing investment opportunities and encouraging Japanese companies to participate in development and urban transportation projects.

While, Sinarmas Land Group‘ CEO, Michael Widjaja commented, “This JVC focuses on infrastructure projects and transit-oriented developments. Its also expected to contribute positively to the development of our township.”

JOIN is an investment institution sponsored by the Japanese government and private sector. The company was founded in October 2014 and aims to encourage Japanese companies to leverage their knowledge, technology and experience in the infrastructure sector to expand outside Japan.

So far, the company has penetrated Brazil, Malaysia, Myanmar, India, the Republic of Palau, Vietnam, United States, Russia, Thailand and Canada. In Indonesia, JOIN has invested in seven projects from 2016 – 2020, consisting of two brown and five green field projects.

With the Sinarmas Group, the firm collaborated on the BSD City Mixed-use project in 2016. Participating in this project are Mitsubishi Corporation, Nishi – Nippon Railroad, Hankyu Hanshin Properties and Keikyu.

While, PT Bumi Serpong Damai Tbk (IDX: BSDE), a subsidiary of Sinarmas Land, established a strategic partnership with Mitbana Pte. Ltd., a joint venture between Mitsubishi and Singapore’ Surbana Jurong Pte. Ltd. Both aimed to build a transit-oriented development project on an area of ​​more than 100 hectares with a smart city concept in Serpong, Tangerang.

Cooperation with Mitsubishi Corporation is carried out through the development of The Zora area in BSD City, which is an exclusive residential zone with leading smart-home technology from Mitsubishi. In another township, Sinar Mas Land is working with Citra Mas to appoint Surbana in developing the concept of the Eco Digital Project master plan in Nongsa, Batam, Riau Islands, covering an area of ​​62 hectares.

US$1: Rp14,100

Written by Editorial Staff, Email: theinsiderstories@gmail.com