Strengthening Capital For Property Projects This Year, BSD Owned By Conglomerate Eka Tjipta Widjaja Sets Net Profit Of IDR 1.35 Trillion As Retained Profit

Photo: Doc. Sinar Mas Land

JAKARTA - PT Bumi Serpong Damai Tbk (BSDE) or BSD, a member of the Sinar Mas Land property group belonging to the conglomerate Eka Tjipta Widjaja, received approval from shareholders not to distribute dividends from its net profit in 2021. Thus, most of the company's net profit in 2021 then becomes retained earnings.

Citing information from the Director of BSD Hermawan Wijaya, the value of retained earnings is IDR 1.35 trillion, while IDR 2 billion is a reserve fund. "With this decision, the largest independent city developer in Indonesia will strengthen the capital structure to develop superior property projects to be developed in 2022," said Hermawan, Thursday, June 16.

Hermawan added, as a risk mitigation and with the shareholder's decision, the company has solid capital fundamentals to guarantee funding and completion of managed property projects. Currently, BSD has real estate inventory of IDR 5.73 trillion, which consists of land and buildings that are ready for sale and buildings under construction.

For inventories in the category of land and buildings that are ready to be sold until the end of March 2022, it is recorded at IDR 3.21 trillion. The BSD City and The Element projects are listed as projects with the largest inventories, namely IDR 2.01 trillion.

Then the Klaska Residence project is IDR 286.19 billion and South Gate is IDR 239.71 billion. Meanwhile, the category of buildings under construction has an inventory of IDR 2.52 trillion.

The BSD City and The Element projects are the projects with the highest contribution, which is IDR 788.32 billion. "The large inventory illustrates BSD's potential for future income prospects. We continue to strive to increase quality real estate production to meet high consumer demand," Hermawan added.