PT Surya Semesta Internusa Tbk. (SSIA) is gearing up to enhance the sales of industrial estate land amid the flourishing manufacturing sector in Indonesia.
Erlin Budiman, VP Head of Investor Relations at Surya Semesta Internusa, expressed optimism despite a slow land absorption rate. The company remains focused on the industrial estate business, with particular emphasis on boosting land sales in Subang Smartpolitan.
In Subang, inquiries are diverse, spanning autoparts, medical tools, steel & metal, heavy machinery, consumer goods, and electric vehicles, according to Erlin.
The business unit overseeing SSIA’s industrial estate, PT Suryacipta Swadaya (SCS), reported Q3 2023 revenues of IDR 275.1 billion, a 6.3% decrease from the same period last year.
The decline was attributed to a 29.6% correction in land sales, reaching IDR 56 billion, compared to Rp79.6 billion last year. Marketing sales for SCS in Q3 2023 were recorded at IDR 394.4 billion, covering 21.1 hectares. Strong industrial estate land remains in Karawang, covering 18.2 hectares valued at IDR 359.8 billion, while Subang Smartpolitan has 2 hectares worth IDR 31 billion. Overall, SCS has a backlog covering 20.6 hectares valued at IDR 398.7 billion.
SSIA’s property unit, encompassing industrial estates, maintenance costs, commercial leases, and residences, generated IDR 413.8 billion in revenues until Q3 2023, marking a 13% increase from the same period last year.
S&P Global noted Indonesia’s Manufacturing PMI strengthened to 51.7 in November 2023, indicating an expanding manufacturing condition. The processing industry sector reported a 5.20% year-on-year growth in Q3 2023, surpassing the overall economic growth of 4.94% in the same period, as per the Central Statistics Agency (BPS).
