As of September 2017, Jakarta Setiabudi Gained Rp 100 B Net Profit

By : Abraham Sihombing And Aldo Bella Putra | Thursday, November 30 2017 - 22:00 IWST

PT Jakarta Setiabudi Internasional Tbk (JSPT) Foto Ist)
PT Jakarta Setiabudi Internasional Tbk (JSPT) Foto Ist) - Jakarta - PT Jakarta Setiabudi International Tbk (JSPT) posted net profit of Rp100.3 billion during January-September 2017. It was 4% higher compared to the same period in 2016 of Rp96.44 billion.

"The profit was obtained by the company after posting revenues of Rp836.7 billion as of September 2017. Revenue of that amount indicates a growth of about 7% compared to September 2016 of Rp781.96 billion," said Merry Lim, Director of Finance JSPT, in the event of public exposure in the Apartment Setiabudi Sky Garden, South Jakarta, Thursday (30/11/2017).

Meanwhile, Chandra P. Asali, Director of Investment and Hotel, said that in November 2017, capital expenditure (capex) of JSPT was Rp800 billion. That reaches 67% of JSPT's capex allocation in 2017 of Rp1.2 trillion.

"Indeed, we have not realized the capex as allocated before. Therefore, the remaining unrealized capex, which is around Rp400 billion will be allocated for next year's capex (2018-red)," Chandra said.

The amount of Capex we have used to finance the renovation of the Bali Hyatt hotel as well as the addition of new facilities at the hotel which will be upgraded to Hyatt Regency in Sanur, Bali.

"We also use the capex to finance the construction of Hotel Andaz Bali, a 5-star boutique hotel with Balinese Village concept in Sanur, Bali," said Chandra.

In addition, the capex fund is also used to finance the renovation of the Mercure Convention Center Hotel in Ancol, North Jakarta, which still continues today. A total of 272 rooms out of a total of 436 rooms in the tower building and main building of the Mercure Convention Center Hotel have been completely renovated and marketed.

"We are also currently completing the construction of POP! Semarang Youth Hotel located at Simpang Street. Hotel consisting of 134 rooms is planned to be opened in January 2018," added Chandra. (Abraham Sihombing)

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