Annual 2020 General Meeting of Shareholders

On 14 August 2020, Annual General Meeting of Shareholders of PT Bekasi Fajar Industrial Estate Tbk (“BeFa”) approved 2019 net profit to be recorded as the retained earning to strengthen the Company’s capital structure. On the same day, BeFa also held a Public Expose.

During 2019, BeFa achieved sales of 16 hectares of industrial land. The Company’s total income was Rp. 951 billion with the largest contribution from the sales of land worth Rp. 796 billion, with a net profit of Rp. 380 billion.

In the midst of a challenging Covid-19 pandemic, BeFa projects moderate performance for 2020 and has revised sales target to 10 – 15 hectares, by targeting the land sales in the second half 2020.

The potential of manufacture industry investment and other businesses such as logistics is in line with the huge growth in domestic demand, especially in the MM2100 Industrial Estate.

As it is already known, the MM2100 Industrial Estate will be passed by JORR II Cibitung – Cilincing and the tenants of the area will enjoy the benefit of having the additional access and connectivity at MM2100. In addition, the MM2100 Industrial Estate will get the advantage from the government’s future infrastructure plans for the Jakarta – South Cikampek toll road, the Tanjung Priok expansion project and the construction of the Patimban Port.