JAKARTA (TheInsiderStories) – Singapore’ Albizia ASEAN Opportunities Fund lift its ownership in the Pizza Hut restaurant chain, PT Sarimelati Kencana Tbk (IDX: PZZA), Indonesian Central Securities Depository reported. As of Nov. 23, the investment fund was owned 688,000 shares or around 6 percent of PZZA’ enlarged capital.
Albizia bought PZZA shares at an average price of Rp890 a share.
The Director of Albizia Capital PTE Ltd., Kwee Thong How in the disclosure of information to the Indonesia Stock Exchange stated that the purpose of this transaction is to invest in direct ownership status.
In the third quarter (3Q) of 2018 financial report, the company booked net sales of Rp2.57 trillion (US$174.83 million), up 17.88 percent from Rp2.18 trillion in the same period the previous year. The current year’s profit pocketed was valued at Rp101.55 billion, up 20.51 percent from the position of Rp84.26 billion in 3q 2017.
Sarimelati Kencana raised Rp816 billion funds from its initial public offering (IPO). The company released a maximum of 604.37 million new shares or 20 percent of the issued and fully paid capital
According to Budi Setiawan, Director of Sarimelati Kencana, until the end of 2018, the company will open 60 outlets to 65 Pizza Hut outlets. Last year PZZA has owned 51 new outlets.
The new outlet consists of 48 PHD, eight restaurant outlets, and four Pizza Hut Express outlets, which are new concepts from Pizza Hut Indonesia. For PHD outlets, Sarimelati Kencana said would enter the city with markets or markets that were already mature.
The company prepared an investment around Rp 206 billion for the expansion funded from the IPO proceeds, said Director of Sarimelati Kencana Jeo Sasanto. He added, “At present we plan to expand the PHR and PHD outlets in West Java, Central Java, East Java, Sumatra, Kalimantan, East Indonesia and other regions.”
Sarimelati wants to increase sales outside Java Island. Because the number of outlets in Java has more than outside Java. Throughout this year, a total of 15 new outlets have opened.
By the end of 2017, the unit of private food & beverages company PT Sriboga Raturaya has operated 237 Pizza Hut restaurant and 156 Pizza Hut Delivery outlets spread across 76 cities and counties across Indonesia.
Sribog Raturaya owns and operated various companies across a range of sectors and continues to diversify international brands including Mitsubishi Corp, Nissin, and YUM! brands.
The holding company is strategically positioned to tap into Indonesia’s growing ranks of middle class consumers by staying ahead of emerging trends through rigorous market analysis to gain consumer insights.
Sriboga Raturaya’s key positioning allows for further growth in the local Indonesian F&B market, and to take advantage of opportunities across the archipelago and the ASEAN through further expansion within franchise outlets, distribution networks and product penetration.
Euromonitor International reported, the Indonesian pizza market is forecast to expand to Rp8.81 trillion by 2021, up from Rp5.76 trillion rupiah in 2016. According to the consultancy agency, Pizza Hut is the most popular pizza restaurant operator in the country, commanding more than 70 percent of the market last year, followed by Domino’s with 6.1 percent.