BeFa Industrial Estate

News from Befa Industrial Estate

Annual 2021 General Meeting of Shareholders

On June 30, 2021, PT Bekasi Fajar Industrial Estate Tbk (the “Company”) held its Annual General Meeting of Shareholders ("GMS") at Enso Hotel, MM2100 Industrial Estate, Bekasi. On the same occasion, the Company also held a Public Expose. One of the decisions of GMS was approval in the change of composition of Board of Commissioners and the Board of Directors to become as follows:

Board of Commissioners:
President Commissioner and concurrently Independent Commissioner : Mr. I Gusti Putu Suryawirawan
Vice President Commissioner and concurrently Independent Commissioner : Mr. Herbudianto
Independent Commissioner : Mr. Wahyu Hidayat
Commissioner : Mr. Hartono

President Director : Mr. Yoshihiro Kobi
Deputy President Director : Mr. Leo Yulianto Sutedja
Director : Mr. Daishi Asano
Director : Mrs. Swan Mie Rudy Tanardi

In addition, it was also determined that there would be no dividend distribution for the financial year ending on December 31, 2020 because the Company suffered a loss in 2020.

During 2020, the Company reported that there were no sales of industrial land (marketing sales) due to delays in investment and business expansion due to the Covid-19 pandemic. In 2020, the Company's total revenue was Rp 242.3 billion with the largest contribution coming from maintenance fees, service charges, water, and rental income of Rp 114.8 billion. The company recorded a net loss of Rp 115.2 billion in 2020.

Even though the economy is in the process of recovering, the Covid-19 pandemic is not over yet. The company targets marketing sales of 10-15 hectares with an average selling price of Rp 2.6 million-3.2 million/m2. The company has added marketing sales of industrial land in the 1st quarter of 2021 to an area of ​​0.5 ha and is targeting stable recurring income growth for the rest of the current year. The Company's target market is mainly in industries that are relatively resistant to the impact of the pandemic, such as data centers, logistics, and food & beverages industries.

The Company's strategy is to continue to focus on the industrial estate business. With more than 30 years of experience in developing industrial estates, the Company still believes in the potential needs of business players for professional and reliable industrial estates. Especially in the Bekasi MM2100 Industrial Estate, the Company will continue its development, including development of infrastructure and facilitie, while also taking advantage of the surrounding infrastructure development to increase the value of the area. As commonly known, the MM2100 Area will be passed by the JORR II CIbitung - CIlincing, and residents of the area will obtain the benefit of addition of access and connectivity in MM2100. In addition, the MM2100 area will also benefit from the government's future infrastructure plans such as the LRT, the Jakarta-Cikampek South Toll Road, the Tanjung Priok expansion project and the construction of the Patimban Port.