JAKARTA - PT Wulandari Bangun Laksana Tbk, a company in the property and real estate sector based in Balikpapan, East Kalimantan, successfully listed on the Indonesia Stock Exchange (IDX) through the initial public offering process or Initial Public Offering (IPO) on Tuesday 8 November.

During its initial trading, BSBK shares experienced an upper auto reject (ARA). That's because the price has increased by 35 percent.

As is known, in this corporate action, Wulandari Bangun Laksana released as many as 2.750 billion shares. It reached 12.09 percent of the company's issued and fully paid capital after the IPO. The BSBK IPO share price is IDR 100 per share. Thus, the company can raise funds of around IDR 275 billion.

After successfully taking the floor on the stock exchange, the company domiciled in Balikpapan, East Kalimantan, is ready to spur performance by realizing a number of business plans. The company's management is optimistic that the future stock prospects will remain positive.

According to Tjia Daniel Wirawan, Operations Director of Wulandari Bangun Laksana, the Company, which was founded in 2005, owns and manages an area called Balikpapan Superblock. This is an integrated commercial area and a 14-hectare residential area.

"Our development concept is large-scale property development consisting of retail, housing and commercial areas in a building complex designed with the theme One Stop Living," he said, in Jakarta, Wednesday, November 9.

Tjia explained, in running his business, Wulandari Bangun Laksana has a vision to become a benchmark property company in Balikpapan which is nationally and of international quality. The mission carried is to be committed to building quality and added value products and services for consumer satisfaction (buyers, tenants, residents, visitors).

"Building and training quality human resources has a positive impact on the development of cities and the environment and supports the vision of the city of Balikpapan: Kubangun, Kujaga, and Kubela," explained Tjia.

He explained that his party was building good cooperation with stakeholders. Starting from shareholders, customers, providers/providors, employees, government and the environment. Wulandari Bangun Laksana also added value to the company.

To note, Wulandari Bangun Laksana, among others, has sold apartment and confothelial units. The company also has a shopping center rented out called Mall Ewalk and Mall Pentacy Shopping Venue, rental of an office building called PAM Tower, a building that is rented into a 5-star hotel, namely Grand Jatra Hotel, Astara Hotel, and 2-star hotel, namely the J-Icon Hip Hotel.

From all these businesses, Wulandari Bangun Laksana in 2019 to March 2022 experienced a significant increase trend. This increase was mainly due to a reassessment of permanent assets and investment property assets owned by the Company," explained Tjia.

Tjia said that BSBK fundamentally showed positive performance and durability before and during the pandemic. The company's margin EBITDA ratio, for example, for the last three years from 2019 to 2021 was 3.5 percent, 29.4 percent and 494.3 percent, respectively. The company recorded Return on Assets (ROA) from 2019 to 2021 of -7.68 percent, -11.19 percent and 55.81 percent, respectively.

"We are optimistic that BSBK shares in the future will be very attractive to investors in addition to good and sustainable fundamentals, the status of the Company which is currently in expansion mode, and the prospect of business development is also wide open," he said.

In 2018, Wulandari Bangun Laksana won the Marketer of the year award as Balikpapan Marketing Champion 2018 in the property sector. Furthermore, in 2019, Wulandari Bangun Laksana as a developer of Pentapolis Residence won an award for the Best Premium Apartment category at the Golden Property Award 2019 which is held every two years by Indonesia Property Watch (IPW). And in 2020, one of the Malls and the Company's hotels (Mall Ewalk & Grand Jatra Hotel) has received a Cleanliness, Health, Safety, and Environmental Sustainability (CHSE) award set by the Ministry of Tourism & Creative Economy.

The company is very grateful for the appreciation that has been received. In the future, Wulandari Bangun Laksana by highlighting various elements is committed to strengthening her area as the most complete residence that will improve quality by identifying consumer needs and establishing effective communication so that consumer loyalty will always be maintained," concluded Tjia.


The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)