Agung Sedayu Group Owned By Conglomerate Sugianto Kusuma 'Aguan' Promises To Bring This Canned Company To Revenue Of IDR 520 Billion In 2022

Illustration. (Photo: Doc. Antara)

JAKARTA - After acquiring the cannery company PT Pratama Abadi Nusa Industri Tbk (PANI) through PT Multi Artha Pratama (MAP), the Agung Sedayu Group promised to take the issuer to high ground. The property conglomerate owned by Sugianto Kusuma 'Aguan' stated that PANI will pursue the target of increasing revenue by at least 100 percent in 2022.

Although it has not released its annual financial performance. However, PANI's revenue in 2021 is estimated to reach Rp260 billion. Based on this estimate, it means that PANI's expected revenue in 2022 will be at least IDR 520 billion.

"In general, our target [through the canning business] is IDR 260 billion. And it is also projected that income from the property sector through BKS will reach the same value. So, there will be a 100 percent increase," said Director of MAP Yohanes Edmond Budiman, as the new controlling entity PANI in a public presentation, Monday, March 7 yesterday.

Edmond said, in order to realize 100 percent growth, PANI will acquire a majority stake in PT Bangun Kosambi Sukses alias BKS, which is actually still affiliated with the Agung Sedayu Group. This acquisition will enable PANI to diversify its business into the property development segment that BKS is engaged in through its subsidiaries.

BKS is believed by PANI's management to have no difficulty in raising the company's income. This is because this entity already has a fairly long track record in the property world, especially in building constructions in the Pantai Indah Kapuk (PIK) 1 and 2 areas.

To realize this step, PANI will need jumbo funds. In the initial estimate, the funds needed reached almost IDR 6.5 trillion.