JAKARTA (TheInsiderStories) - In the six months to June 2015, publicly listed property developer PT Kawasan Industri Jababeka Tbk (IDX: KIJA) posted revenues of Rp1.48 trillion, edged up by 2% from the same period last year.
Its net profit however fell to Rp249 billion from Rp419 billion in the same period last year or down by 40.57 percent. The decline was in line with falling gross profit-which in part due to foreign exchange losses of Rp15 billion-compared to foreign exchange gain of Rp40 billion in the same period last year.
The company said its recurring revenues from infrastructure unit (power, water and dry port) contributed 62 percent of the revenues in the first semester, compared to 53 percent in the same period last year.
On quarterly basis, the company’s revenues increased 12 percent in second quarter from first quarter this year due to a rise in ready-to-build land.
Jababeka’s total debts as of end June reached Rp3.93 trillion, including outstanding senior notes issued in 2012 worth Rp538 billion, which was completed repaid on July 26, 2015. The repayment was made from the proceeds of senior notes issued in May 2015 worth $70 million.
In related development, KIJA and and Singapore-based Sembcorp Development Ltd., have inked a deal to develop an textile industrial complex within Kendal Industrial Complex (KIC) in Central Java.
The textile industrial complex will include hospitals, sport centers and housing for workers. The textile complex project is 51% owned by Jababeka, with the remaining 49% is owned by Sembcorp.
Jababeka Chairman S.D. Darmono told reporters in Jakarta that land acquisition of 630 hectares in KIC has been completed at a total cost of Rp400 billion ($29.63 million).
The next step is developing a factory plant and residential area in collaboration with Sembawang Engineers & Construction. Jababeka expects to fully complete the development of the textile complex within 10 years. Jababeka will set aside around Rp15 trillion in investment to build the textile complex on a 2,700-hectares area.
The textile industrial complex will include hospitals, sport centers and housing for workers. The textile complex project is 51% owned by Jababeka, with the remaining 49% is owned by Sembcorp.
Jababeka Chairman S.D. Darmono told reporters in Jakarta that land acquisition of 630 hectares in KIC has been completed at a total cost of Rp400 billion ($29.63 million).
The next step is developing a factory plant and residential area in collaboration with Sembawang Engineers & Construction. Jababeka expects to complete the development of the textile industrial complex in 10 years. Jababeka will set aside around Rp15 trillion in investment to build the textile complex on a 2,700-hectares area. (*)
Facebook
Twitter
RSS