JAKARTA (Yosefardi) – Industrial estate developer PT Surya Semesta Internusa Tbk (SSIA) plans to revise its target for land sales this year after only realizing 11.6% of land sales target in the first half of this year.
SSIA plans to acquire 1300 hectares of land bank after receiving proceeds from the US$200 million Notes. SSIA plans to use 57% of proceeds to finance expansion of its subsidiary PT Surya Cipta Swadaya. The plan is to add 1000 hectares in Subang, West Java and 300 hectares in Bekasi, West Java.
SSIA booked net profit of Rp204.3 billion in the first quarter of 2015, compared to Rp12.4 billion in the same period of 2014. Revenues grew by 43.5% to Rp1.35 trillion. Its assets reached Rp6.18 trillion while liability amounted Rp2.8 trillion.