SSIA - PT. Surya Semesta Internusa Tbk

Rp 370

-8 (-2,00%)

JAKARTA - PT Surya Semesta Internusa Tbk (SSIA) managed to book a solid performance in the first quarter of 2022. The company posted a consolidated revenue of Rp766.4 billion. The revenue increased by about 71.4% from Rp447.1 billion booked in 1Q21. This increase was mainly due to revenue in construction and hospitality were up by 84.3% (Rp287.4 billion) and 102.3% (Rp31.4 billion) respectively. SSIA property business segment revenue increased by about 10.8% (Rp8.3 billion). 

SSIA consolidated net loss in 1Q22 stood at Rp76.0 billion, decreased by 2.7% compared to the net loss of Rp78.0 billion in 1Q21. The decrease was primarily due to increase in net profit construction business segment by about 261.0% (Rp24.2 billion).

On 6 June 2022, SSIA successfully divested its warehouse rental business to Frasers Property Thailand (Indonesia) Pte. Limited worth total of Rp562.2 billion. The Company believes that the divestment will strengthen SSIA’s position to focus on Subang Smartpolitan. 

To date, the Company posted 9 hectares marketing sales with ASP of USD127.5/sqm from Suryacipta Karawang inventory land, subsequently this will bring revenue of USD11.5 million or ~Rp163 billion. Hence, SSIA has achieved 45% of its full year 2022 target of marketing sales from Karawang site. (LM)