JAKARTA, June 26, 2018 - In the annual public expose held after the AGMS of PT Pakuwon Jati Tbk at Hotel Sheraton Grand Jakarta, Minarto, Finance Director and Corporate Secretary of the Company stated that the GMS has approved the distribution of cash dividends from 2017 amounting to Rp 289 billion, 14% of the Rp 2,025 billion net income attributable to the parent.
This dividend of Rp 6 / share is up 32% compared to dividends paid out of the performance results of 2016, reflecting the Company's continued commitment to shareholders of PWON. In addition to dividend payments, Rp 1 billion is allocated for reserve funds and the rest is reinvested in the Company to strengthen the growth base of recurring and development revenue of the Company, Minarto explained.
Financial performance 2017
PT Pakuwon Jati (PWON) booked a net income of Rp 5,718 billion, up 18.1% from Rp 4.841 billion a year earlier. Meanwhile, comprehensive profit was recorded at Rp 2,002 billion, up 12.7% from 2016 amounting to Rp 1,776 billion.
Outside the extraordinary outpost was a penalty for bond redemption of Rp 138 billion, PWON's comprehensive profit grew 20.5% compared to 2016, said Minarto Basuki, Director and Corporate Secretary of the Company.
The composition of revenues in 2017 consists of 52% recurring revenue and 48% development revenue, consistent with the Company's strategy to grow with a balanced income composition between recurring and development revenue.
The company's recurring revenue in 2017 reached Rp 2,955 billion, up 15.7% compared to Rp 2,553 billion in 2016, supported by, among other things, increased revenues from Pakuwon Mall shopping centers phase 2 and 3 which opened in February 2017 and additionally from retail shopping centers and Company's existing hotels.
The company's development revenue in 2017 reached Rp 2,763 billion, up 20.8 percent compared to Rp 2,288 billion in 2016, due to the recognition of revenues from the sale of the Kota Kasablanka Stage 2 apartment.
The realization of 2017 marketing sales reached Rp 2,505 billion supported by 62% apartment sales, 30% landed residential and 8% offices.
Capital expenditure of 2017 which has been disbursed by the Company reached Rp 2.048 billion to finance construction projects Kota Kasablanka Stage 2, Tunjungan Plaza 6, and Pakuwon Mall extention and land acquisition.
New Project Development Plan 2019
2019 The Company plans to start working on the 3.6 hectare land it has in West Bekasi.
"Our project in West Bekasi is a mixed use project that will consist of 4 apartment towers and 330-room hotels and a retail mall of +/- 71,000 m2 GFA. The development site is close to the West Bekasi toll gate of the Jakarta-Purwakarta toll road and about 300 m from the Bekasi Barat LRT station. "A. Stefanus Ridwan S., President Director of the Company explained.
About PT Pakuwon Jati Tbk.
Pakuwon Jati, is the owner, manager and property developer who this year is entering the age of 36 years. The company has been listed on the BEI since 1989. The Company has a well diversified business concept through investment property, where Pakuwon develops, owns and manages commercial, office and hotel shopping malls and property development, where Pakuwon Jati develops strata-tittle office and condominiums and development residential city-scale residential for sale. Pakuwon Teak will continue to grow with a balanced growth strategy between recurring and development revenue.
Here is the portfolio of property owned by the Company:
• Superblock Gandaria City, Jakarta (retail shopping centers, apartments, offices and hotels)
• Superblok Kota Kasablanka, Jakarta (retail shopping center, apartment and office)
• Somerset Berlian, Jakarta (service apartment)
• Blok M Plaza, Jakarta (retail shopping center)
• Superblock Tunjungan City, Surabaya (retail shopping centers, apartments, offices and hotels)
• Superblock Pakuwon Mall, Surabaya (retail shopping malls, service apartments, apartments and 4 star hotels and 5 star hotels under construction)
• Royal Plaza, Surabaya (retail shopping center)
• Pakuwon City township, East Surabaya (landed residential and apartments)
• Grand Pakuwon township, West Surabaya