BOGOR - PT Sentul City,Tbk (BKSL) booked net revenues of Rp712 billion in 2014 or a decrease compared to 2013 with an amount of Rp 961 billion.
Widi Widananto, Finance Director of PT Sentul City Tbk (BKSL), said the reason of the decline was not due to the weakening of core business, but rather the bookkeeping block sales in 2013 with an amount of Rp 216 billion and divestment of PT Jungle Land Asia (JLA). Concerning revenue contribution, the retail property sector increased by 15.21% because of property delivery and revenue recognition differences on progress of Sentul Apartment and Condotel.
Last year, total assets of the company amounted Rp 9.76 trillion which declined 8.15% compared to 2013 with an amount of Rp 10.66 trillion. Current assets have increased by Rp 295.3 billion (by as much as 4.42%), non-current assets have decreased by Rp1.65 trillion (29.25%). The decrease of assets was caused by the company's decision to invest in PT Jungle Land Asia (JLA), which is a reason that JLAs assets have not been consolidated in the financial report of the company. He said, "in 2014, total liabilities amounted to Rp 3.58 trillion and decreased by as much as Rp 200 billion compared to 2013 with Rp 3.78 trillion" In 2014, the total equity decreased by Rp 669 billion, or 9.72% compared to 2013. It was caused by a decline of non-controlling interest and an increase of the company's portfolio in PT Bukit Jonggol Asri (BJA).