Summarecon Will Distribute IDR 148.57 Billion Dividend

Photo: Doc. Summarecon Agung

JAKARTA - The country's leading property developer, PT Summarecon Agung Tbk (SMRA) will distribute dividend distribution for the 2023 financial year worth IDR 148.57 billion. This dividend distribution of IDR 9 per share has been approved at the company's Annual General Meeting of Shareholders (AGMS) which was held today, Thursday, June 20.

Summarecon's Corporate Secretary Agung Jemmy Kusnadi said dividend distribution was in line with the company's success in posting a net profit that reached Rp1.06 trillion last year, up 27 percent compared to the previous year's Rp772 billion. The profit acquisition is in line with revenue which grew 14.1 percent to Rp6.66 trillion from the previous Rp5.72 trillion.

In the AGMS for the 2023 financial year, Summarecon also agreed on the ranks of the Board of Commissioners and Directors, as follows:

Board of Commissioners. Soetjipto Nagaria: President Commissioner Harto Djojo Nagaria: Commissioner Hendri Rahardja: Commissioner Drs Edi Darnadi: Independent Commissioner Alexy Arie Tumiwa: Independent Commissioner Ge Lilies Yamin: Independent Commissioner

Board of Directors Adrianto P. Adi: President Director of Liliawati Rahardjo: Director of Soegianto Nagaria: Director of Herman Nagaria: Director of Sharif Benjamin: Director of Lidya Tjio: Director of Nanik Widjaja: Director of Jason Lim: Director

This year, Summarecon will continue business development in a number of projects. Summarecon President Director. Adrianto P. Adi said the company will open its ninth project at the end of 2024, namely Summarecon Tangerang to increase the company's residential property portfolio.

"We will strengthen the core business by accelerating the entire development efficiently and effectively meeting market demand," Adrianto said in a public expose after today's AGMS.

The company has also budgeted a capital expenditure (capex) of IDR 750 billion to continue a number of strategic projects this year. The company's mainstay projects are expected to be able to bring SMRA to reach the marketing sales target of IDR 5 trillion.

Director of Summarecon Lydia Tijo said that her party is currently building several projects, one of which is the second phase of Summarecon Bekasi which will gradually be completed in 2026.

"In addition, the company is also building Mall Summarecon Makassar which has recently passed the ground breaking stage," he explained.

Lydia detailed that the company owns and operates five shopping centers with more than 500,000 square meters of GFA. The investment property business provides significant regular income (recurring income) from retail mall rentals. The five shopping centers are located in the company's integrated city (township) and become leading shopping centers in Jabodetabek, Karawang, and Bandung.

Summarecon currently has eight integrated cities spread across Kelapa Gading, Bekasi, Serpong, Bandung, Karawang, Bogor, Makassar, and Crown Gading. The products developed are apartments, houses, offices, shophouses, and commercial lots. The township project shows its increasing performance.

According to a sales report until May 2024, Summarecon Serpong showed its best performance with sales contribution reaching 34 percent. Followed by Summarecon Bekasi which contributed 29 percent and Summarecon Karawang which contributed 11 percent to total sales.