JAKARTA - PT Kawasan Industri Jababeka Tbk (KIJA) recorded a loss of Rp 759.8 billion in the first quarter (Q1) of 2020. For comparison, in Q1 2019, the company recorded a net profit of Rp 74.3 billion. The company's loss was mainly caused by foreign exchange losses of Rp 699.1 billion recorded in Q1 2020.
Muljadi Suganda, Corporate Secretary of PT Kawasan Industri Jababeka Tbk (KIJA) said that the significant depreciation of rupiah caused the company to record such significant losses.
However, he is optimistic that the foreign exchange loss experienced by the company will decrease, as the rupiah exchange rate against the US dollar improves to the level of Rp 14,200 - Rp 14,400.
In the first quarter of 2020, KIJA's management booked a revenue of Rp 473.7 billion, 19% lower than its record from the same period last year. (LK/AR)