JAKARTA - Property developer, PT Alam Sutera Realty Tbk has experienced a significant decline in performance in 2020. The COVID-19 pandemic has depressed Alam Sutera as experienced by other property developers in the country.
Quoted from Alam Sutera's financial report published on the Indonesia Stock Exchange website, Monday, April 19, the company, which is owned by the conglomerate The Ning King, posted a total revenue of Rp1.41 trillion. This achievement fell by 59.33 percent more than the realization in the previous year of IDR3.47 trillion.
The decrease in income and a number of expenses also caused the issuer coded ASRI shares to suffer losses of up to Rp1.02 trillion. This is reversed from the profit position of IDR1.01 trillion in 2019.
Judging from the income contributors, all of them experienced corrections. Revenue from real estate sales decreased 63.39 percent on an annual basis (year on year / yoy) to IDR1.04 trillion.
Furthermore, revenue from hospitality services and facilities fell by 14.56 percent yoy to Rp. 299.62 billion and tourism income by 81.92 percent yoy to Rp. 29.10 billion.
Alam Sutera Realty recorded total assets of IDR21.22 trillion at the end of 2020. These assets consist of IDR9.38 trillion of equity and IDR11.84 trillion of liabilities.
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