PT Surya Semesta Internusa Tbk (SSIA) disbursed a loan of Rp 1.4 trillion (US$ 98.59 million) to its subsidiary, PT Suryacipta Swadaya - Photo: The Company.

JAKARTA (TheInsiderStories)PT Surya Semesta Internusa Tbk (IDX: SSIA), a publicly listed company involved in the property, construction, and hotel industries, disbursed a loan of Rp1.4 trillion (US$98.59 million) to its subsidiary, PT Suryacipta Swadaya (SCS), the company wrote in the disclosure information released by the Indonesia Stock Exchange (IDX) on Thursday (08/29).

The funds will be used to finance the construction of first phase industrial projects in Subang, West Java. The new area is expected to attract many companies to invest there and also will provide benefits for the company in the future.

On the other hand, the company has budgeted capital expenditure of Rp770 billion this year. The Rp600 billion of capital expenditure will be used for the construction and Rp30 billion of it for property segment and the rest in hospitality.

Previously, International Finance Corporation (IFC), member of World Bank signed a $100 million loan package for a new 2,000-hectare green state of the art industrial estate in Subang.

The project set to provide over 34,000 jobs. Located along with the Trans Java toll road network, the Subang industrial estate will provide modern infrastructure for both international and domestic manufacturing firms. It is strategically positioned for access to the newly opened Kertajati International Airport and the Patimban Deep Sea Port currently being developed in Subang.

Surya Semesta’s President Director, Johannes Suriadjaja believes that this first investment by IFC in the company will create markets that open up greater opportunities for the future of its new Subang City of Industry project.

In signing the deal at a ceremony in Bali yesterday, IFC CEO Philippe Le Houérou said the lender also planned to boost investments in the country’s tourism sector, in support of the Government of Indonesia’s efforts to accelerate tourism development in key destinations across the country.

Subang City of Industry is envisioned as a model for tomorrow’s industrial estate by becoming the first smart and sustainable industrial estate for customers and society in Indonesia.

It will be the first industrial estate to promote IFC’s green buildings standards, with both SSIA and its manufacturing tenants aiming to achieve at least 20 percent savings in energy, water, and materials compared to other similar developments.

Meanwhile, Surya Semesta formerly known as PT Multi Investments Limited was established on June 15, 1971. The company then transformed into PT Surya Semesta Internusa in 1995.

The main business is industrial estate and real estate development, construction, and hospitality. SSIA’s diversified investment portfolio includes Suryacipta City of Industri, SLP Karawang, Graha Surya Internusa, Gran Melia Jakarta Hotel, Melia Bali Hotel, Banyan Tree Ungasan Resort Bali and Batiqa Hotels. SSIA recorded its share in IDX and become a listed company on March 27, 1997.

US$1=Rp14.200

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