JAKARTA. PT Kawasan Industri Jababeka Tbk (KIJA), an industrial estate developer, recorded a loss of Rp 759.8 billion in the first quarter (Q1) this year, the worst one recorded by the company in the last 11 years.
According to the data collected by idnfinancials.com, losses recorded by KIJA in one quarter usually do not exceed Rp 100 billion. However, the company has suffered losses of more than Rp 100 billion in a quarter for 4 times in the last 11 years.
Muljadi Suganda, Corporate Secretary of KIJA, admitted that the company's loss which was quite high in Q1 2020 due to a number of things. Starting from a decline of 19% YoY in revenue to Rp 473.7 billion, to foreign exchange loss which reached Rp.699.1 billion. (KR/AR)