Watch
As the end of large-scale social restrictions (PSBB) and economic activities are expected to resume stretching, Sinarmas Sekuritas estimates that the volume of distribution of fuel oil (BBM) and AKR chemicals in industrial areas will return to normal in the second semester of this year.
The positive impact of the industrial estate land segment through East Java Industrial Estate JIIPE is expected to be the engine of growth in financial performance going forward, can be seen from the realization of the first quarter of 2020 with a contribution of Rp 140 billion from sales of 5.9 hectares (ha) of industrial estate land.
Sinarmas Sekuritas revised down the AKR's financial performance in 2020 and 2021 due to a number of factors. This year's revenue projection is revised down from Rp. 22.08 trillion to Rp. 16.1 trillion. Likewise, net profit was cut from an initial estimate of Rp 961 billion to Rp 807 billion, AKR in 2021 from Rp 23.11 trillion to Rp 17.91 trillion. While the estimated net profit was revised down from Rp 1.02 trillion to Rp 946 billion.
East Java Industrial Estate JIIPE is the largest industrial estate in East Java as well as the first integrated industrial estate in Indonesia which has been equipped with ports and docks for yachts and housing with an environmentally friendly industrial area, named GEM City, with various exclusive facilities, such as golf courses and shopping centers within the industrial estate.