JAKARTA - The company owned by Puan Maharani's husband, Happy "Hapsoro" Sukmonohadi, PT Rukun Raharja Tbk. (KING) reported a surge in profit to US$3.37 million in the first semester of 2022. This achievement jumped 342.2 percent compared to the same period of US$764,197.
RAJA is a company controlled by Hapsoro (28.51 percent), Puan Maharani's husband. Other shareholders are Sentosa Bersama Mitra (32.13 percent), PT Basis Utama (12.22 percent) and the public (27.14 percent).
In the financial report published today, Monday, August 22, RAJA's revenue increased from 50.14 million US dollars to 56.08 million US dollars. With this achievement, the company's gross profit rose from 7.86 million US dollars to 9.12 million US dollars.
Despite the increase, the company experienced a surge in expenses for general expenses, foreign exchange losses, and interest expenses. This increase can be overcome by increasing the profit share of the associates.
RAJA reported that this joint venture posted an increase in profit from 1.54 million US dollars to 3.85 million US dollars.
Judging from the financial statements, the associated entity that brought large funds to RAJA was PT Petrogas Jatim Utama Cendana. Joint venture with East Java BUMD through PT Raharja Energi Cepu.
RAJA itself has a number of other entities that are spread in utilities and infrastructure, gas trading, power generation, as well as oil and gas business support services including investment in this sector. Most recently, RAJA has just operated the Rokan oil pipeline in Riau with clients Pertamina Hulu Rokan and Pertamina Gas (Pertagas).
Director of Rukun Raharja Oka Lesmana said the Rokan oil pipeline has a full capacity of 200,000 barrels of oil per day. The average amount currently being channeled is only 18,000 barrels per day because it is not yet functioning commercially.
RAJA has not been able to ascertain the value of the revenue that will be contributed by the Rokan oil pipeline operation considering that the company is still preparing distribution tariffs. However, based on the company's simulation, the contribution from the Rokan oil pipeline could range from 30 percent to 45 percent of total revenue and net profit.
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