JAKARTA - The natural gas distribution service company PT Rukun Raharja Tbk (RAJA) posted a net profit that increased 319.5 percent year on year (yoy) to US$10.83 million or equivalent to Rp161.74 billion throughout 2022, from the previous US$3.39 million in 2021.
The net profit was supported by the revenue of the company owned by Puan Maharani's husband, Happy Hapsoro, which reached 126.69 million US dollars in 2022, or an increase of 29 percent yoy compared to the previous 98.94 million US dollars in 2021, according to the company's statement, quoted by Antara, Tuesday 4 April.
RAJA Oka Lesmana's director conveyed that performance growth during 2022 shows that one of the company's efforts to expand and diversify intensively in various business lines.
Since 2021, the company has invested in the Compressed Natural Gas (CNG), Water Treatment Plant, LPG Facility Terminal, and participated in the Rokan Pipe Project consortium.
Regarding the significant increase in profit in 2022, his party revealed that there were several factors that affected, including the contribution from the Rokan Pipe Project which had contributed revenue since February 2022.
In addition, investment revenue in 2022, which experienced an increase, was mainly influenced by higher crude prices than the previous year, so that the contribution from investment revenue in 2022 reached 6.98 million US dollars, or an increase of 227 percent yoy.
In 2022, he explained that overall capital expenditure (capex) reached 27 million US dollars out of a total budget of 40 million US dollars.
He explained that capital expenditures were used to settle payments for the Rokan Pipe Project, acquisition of the CNG holding station in West Java, construction of a new CNG holding station in Central Java, construction of pipes for new customers located in Riau province, and joint study for oil and gas management projects in Central Jabung Block, Jambi Province.
"In 2022, the company will continue to expand its business and participate in several major auctions in Indonesia. The company has won the auction to obtain oil and gas management rights in Blok Jabung Tengah, Jambi province," said Oka.
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