pt surya semesta internusa tbk (“ssia”)
TRANSCRIPT
building a better indonesia 0
Tinjauan Kuartal Ketiga 2020
PT Surya Semesta Internusa Tbk (“SSIA”)
www.suryainternusa.com
building a better indonesia 1
Daftar Isi
Surya Semesta Internusa
RingkasanTinjauan Unit Usaha
• Rekam Jejak
• Anak Perusahaan,
Pemegang Saham &
Manajemen
• Portofolio Investasi
• Strategi Ke Depan
• Indonesia Economic Indicator
Ikhtisar Keuangan 9M20
• Laba Rugi Konsolidasi
• Pendapatan Usaha Konsolidasi
• EBITDA Konsolidasi
• Laba Bersih Konsolidasi
• Neraca Konsolidasi
PROPERTI
• PT Suryacipta Swadaya (“SCS”)
• PT SLP SURYA TICON INTERNUSA (“SLP”)
• PT TCP Internusa (“TCP”)
• PT Sitiagung Makmur (“SAM”)
KONSTRUKSI
• PT Nusa Raya Cipta (“NRCA”)
PERHOTELAN
• PT Suryalaya Anindita International (“SAI”)
• PT Ungasan Semesta Resort (“USR”)
• PT Surya Internusa Hotels (“SIH”)
building a better indonesia 2
1
Sekilas Surya Semesta Internusa
building a better indonesia 3
Mengkonsolidasi
kan unit usaha
perhotelan yaitu
PT Suryalaya
Anindita
International
2008
2006
Memulai
pengembangan
resor eksklusif
Banyan Tree
Resort di
Ungasan, Bali
Tercatat di
Bursa Efek
Indonesia
1997
1996
Membangun
hotel bintang
lima
Gran Meliã
Jakarta dan
gedung
perkantoran
Graha Surya
Internusa
1991
Memulai
pengembangan
1.400 ha
kawasan
industri di
Karawang,
Jawa Barat
Membangun
Meliã Bali Hotel,
hotel bintang
lima
berkapasitas 494
kamar di Nusa
Dua, Bali
i
1983
1976
Membangun
Glodok Plaza, pusat
perbelanjaan
modern pertama di
kawasan pecinan
Jakarta
Didirikan sebagai
perusahaan
pengembang
properti untuk
memgembangkan
kawasan Segitiga
Emas di Kuningan
1971
Mengakuisisi
unit usaha
konstruksi yaitu
PT Nusa
Raya Cipta
1994
2010
Peluncuran
(soft opening)
Banyan Tree
Ungasan
Resort di Bali
Melakukan
stock split
dengan
rasio 1 :
2011
2012
• Obligasi senilai Rp
700 M diluncurkan
• Dividen pertama
semenjak IPO di
tahun 1997
dibagikan
• Berinvestasi di
proyek jalan tol
Cikopo-Palimanan
IPO PT Nusa
Raya Cipta
dengan nilai
Rp 850 per
saham
2013
Joint venture
dengan Mitsui & Co
dan TICON dalam
bisnis
pergudangan/pabrik
Pembukaan jalan tol
Cikopo – Palimanan
2015
PT Surya Semesta Internusa Tbk
• Rexam jejak operasional di sektor properti dapat ditelusuri kembali pada
masa 40 tahun lalu yaitu di awal tahun 1970an
• Pertumbuhan signifikan semenjak IPO
– Ekuitas mencapai lebih dari Rp 545 M(1)
– Pinjaman mencapai lebih dari Rp 1.600 M
– Kapitalisasi pasar meningkat dari Rp 0,6 T (IPO) menjadi Rp 2,0 T(2)
Note: Alur waktu digambarkan tanpa berdasarkan skala. (1) Termasuk Rp 132 M terkumpul di IPO. (2) Data pasar per 30 Sep 2020.
2014
• tanah di Subang,
Jawa Barat
diakusisi dengan
ijin lokasi sebesar
2.000 ha
• Peluncuran
BATIQA hotel
pertama di
Karawang
2017
Divestasi
Cikopo Palimanan
Toll road 3X BV
building a better indonesia 4
9.0%7.9%
7.7%
6.4%
3.3%
65.7%
PT Arman Investments Utama
PT Persada Capital Investama
Intrepid Investments Limited
Reksa Dana HPAM Ekuitas Progresif
PT Surya Semesta Internusa Tbk
Others
• Didirikan dan mulai beroperasi di tahun 1971, bisnis utama SSIA
adalah di bidang properti, konstruksi, dan perhotelan
• Salah satu pengelola terdaftar yang terkemuka di Indonesia 1)
– Kapitalisasi pasar senilai IDR 2.0tn / US$ 136mn
– Total Ekuitias 9M20 senilai IDR 4,211bn / US$ 282mn
– EBITDA FY19(3) IDR 533bn / US$ 36mn
– EBITDA 9M20(3) IDR 40bn / US$ 2.7mn
– Hadir di empat belas kota di Indonesia
• Kawasan industri Suryacipta adalah proyek terbesar perusahaan
dengan total ijin lokasi seluas 1.400 ha
• Mendapatkan ijin lokasi seluas 2.717 ha untuk tanah di project Subang
Smartpolitan
Core Businesses
Konstruksi
Kawasan Industri
Hotel
Rental, Parking & Maintenance
Pergudangan & Pabrik
• High rise buildings
• Commercial and manufacturing
facilities
• Infrastructure
• Suryacipta City of Industry
• Construction toll road
• Resorts and Villas
• Business Hotels
• 5-star Hotels
Non-Recurring Recurring(2)
Note: (1) Data pasar per 30 Sep 2020, berdasarkan nilai tukar USD IDR 14,918(2) Pendapatan berulang terdiri dari hotel, sewa, parkir, dan pemeliharaan. (3) EBITDA adalah laba bersih sebelum dihitung bunga, pajak, depresiasi, dan amortisasi,
termasuk JO income (loss)
Real Estate (Residential)
Shareholding Structure
Note: Shareholding as of 30 Sep 2020
Sekilas Surya Semesta InternusaTinjauan Perusahaan
building a better indonesia 5
Manajemen SSIA dengan Pengalaman yang Handal
The Jok Tung
DirekturWilson Effendy
Direktur
Prior work experience within Astra Group
Board of Directors
Hagianto Kumala
Presiden Komisaris
Emil Salim
Wakil Presiden Komisaris
Royanto Rizal
Komisaris
Steen Dahl Poulsen
Komisaris
Crescento Hermawan
Komisaris
Board of Commissioners
>50 Tahun
Pengalaman
>50 Tahun
Pengalaman
>45 Tahun
Pengalaman>20 Tahun
Pengalaman
>40 Tahun
Pengalaman
Eddy P. Wikanta
Wakil Presiden Direktur
>40 Tahun
Pengalaman
Johannes Suriadjaja
Presiden Direktur
>30 Tahun
Pengalaman
>20 Tahun
Pengalaman>30 Tahun
Pengalaman
building a better indonesia 6
Informasi pemilikan saham per of 30 Sep 2020. Market data per 30 Sep 2020 berdasarkan nilai tukar Rp 14,918/ USD.
Property
PT Surya Semesta Internusa TbkKapitalisasi Pasar: IDR 2.0tn / US$ 136mn
PT Suryacipta
Swadaya
PT SLP
SURYA TICON
INTERNUSA
PT Ungasan
Semesta
Resort
Construction
& InfrastructureHospitality
PT Suryalaya
Anindita
International
PT Surya
Internusa
Hotels
• Glodok Plaza
(ritel)
• Graha Surya
Internusa
(gedung
kantor) (1)
• Tanjung Mas
Raya
(perumahan)
• Pergudangan
dan Pabrik
untuk
disewakan -
Karawang
• Pergudangan
untuk
disewakan
• Makassar
Banjarmasin
• Banyan Tree
Ungasan
Resort, Bali
(operator)
• Gran Meliá
Jakarta
• Meliá Bali
Hotel
• The Plaza
Hotel Glodok,
Jakarta
• BATIQA Hotel
Karawang,
Cirebon,
Jababeka,
Palembang,
Pekanbaru,
Lampung,
Surabaya
100% 100% 50% 100.0% 100% 86.8% 100%
• Gedung tinggi
• Fasilitas
komersial
• Fasilitas pabrik
skala besar
• Infrasktruktur
(jembatan,
jalan raya, dan
dermaga)
66.0%
Listed entities on IDX Subsidiary
• Kawasan
industri
Suryacipta,
1.400 ha
PT Sitiagung
Makmur
100%
• Banyan Tree
Ungasan
Resort, Bali
(pemilik asset)
PT TCP
Internusa
Note: (1) Sedang tidak beroperasi
Struktur Perusahaan dan Proyek Utama
PT Nusa
Raya Cipta
Tbk
Market Cap:
IDR 724bn /
US$ 49mn
PT Surya
Internusa
Timur
building a better indonesia 7
• Kantor Cabang Nusa Raya
Cipta (“NRCA”)
Medan
Keberadaan Geografis di Indonesia
Kehadiran di Empat Belas Kota di Indonesia
JakartaBali
Pekanbaru
Medan
Karawang
CirebonSubang
• Mengakuisisi tanah dengan ijin
lokasi sebesar 2,717ha
• Jalan Tol Cikopo-Palimanan–
divestasi pada 8 Mei 2017
Subang
• Suryacipta City of Industry (1,400ha)
• BATIQA Hotel & Apartments Karawang (Business Hotel,
3-star, 137 rooms) - Grand Opening pada 18 Sept 2014
• SLP Karawang 128,566 m2 rentable buildings from 160.255 m2 utilized land
Karawang
SemarangSurabaya
• Batiqa Hotel (hotel Bisnis,
108 kamar) - Grand
opening tanggal 9 Sep
2015
Cirebon
• Melia Bali Hotel (hotel
bintang lima, 494 kamar)
• Banyan Tree Resort
Ungasan (resor boutique,
73 villa)
• Kantor cabang untuk NRCA
Bali
• Gran Melia Jakarta (5-stars, 338 kamar)
• Glodok Plaza (36,780 m2)
• The Plaza Hotel Glodok, Jakarta (Budget Hotel, 91 rooms)
• Tanjung Mas Raya (21,000 m2, akan dibangun pada 2019)
• Pembangunan SSI Tower Prime Grade A (sebelumnya
Graha Surya Internusa (tanah seluas 8,525 m2 )
Jakarta
• Kantor cabang NRCA
Semarang
• Kantor cabang NRCA
• BATIQA Hotel (hotel Bisnis,
Bintang tiga, 87 kamar) -
Grand opening pada 8
Agustus 2018
Grand opening in 8 Aug 2018
Surabaya
Jababeka
• BATIQA Hotel (hotel Bisnis,
Bintang tiga, 127 kamar) -
Grand opening pada 11 Nov
2015
• BATIQA Hotel (hotel Bisnis,
bintang 3, 160 kamar) -
Grand opening pada 18 Feb
2016
Jababeka
Palembang Palembang
Lampung
• BATIQA Hotel (hotel Bisnis, 3-
star, 133 rooms) - Grand
opening pada 26 Aug 2016
• BATIQA Hotel (Business Hotel,
3-star, 109 rooms) - Grand
opening pada 16 Sep 2016
Pekanbaru
Lampung
Note : data per 30 Sep 2020 ; SIT : PT Surya Internusa Timur
• SIT pergudangan – 10.000
m2
• SIT peergudangan– 10.000
m2
Banjarmasin
Makassar
building a better indonesia 8
Strategi Perusahaan Ke Depan
Melanjutkan fokus di bidang konstruksi dan
pengembangan properti di Indonesia1
Strategi persediaan tanah yang tepat untuk mencapai laba
yang berkelanjutan dan optimal2
Diversifikasi produk, segmen, dan geografis yang
berkelanjutan3
Peningkatan recurring income melalui unit usaha
perhotelan, pergudangan, dan properti komersial4
Vision: Untuk membangun Indonesia yang lebih baik melalui unit usaha properti, konstruksi dan perhotelan dapat
diandalkan, dipercaya dan dihargai
building a better indonesia 9Source: Bank Indonesia, Indonesian Bureau Statistics - April 2016 onwards rate refers to BI 7-day (Reverse) Repo Rate
11,000
13,000
15,000
17,000
Nilai Tukar (Rp/US$)
-6.0%
-2.0%
2.0%
6.0%
20
15
20
16
20
17
20
18
20
19
9M
20
Pertumbuhan Ekonomi (%YoY)
1.0%
2.0%
3.0%
4.0%
5.0%
Inflasi
3.5%
4.0%
4.5%
5.0%
5.5%
6.0%
Kurs BI
Indikator Ekonomi Indonesia
building a better indonesia 10
Pendapatan Usaha dalam Unit Usaha(9M2020)
13%
79%
8%
Properti
Konstruksi
Perhotelan
0.0% 20.0% 40.0% 60.0% 80.0% 100.0%
EBITDA dalam Unit Usaha (9M2020)
90%
153%
-144%
Property
Construction
Hospitality
-200% -150% -100% -50% 0% 50% 100% 150% 200%
Pendapatan Usaha dalam Unit Usaha(9M2019)
EBITDA dalam Unit Usaha (9M2019)
9%
69%
22%
Properti
Konstruksi
Perhotelan
0.0% 20.0% 40.0% 60.0% 80.0%
18%
42%
40%
Properti
Konstruksi
Perhotelan
0% 10% 20% 30% 40% 50%
Sekilas Mengenai Unit Usaha
Properti
Konstruksi
Perhotelan
IDR 40bnIDR 291bn
IDR 2.125bnIDR 2.769bn
building a better indonesia 11
Pendapatan Usaha Konsolidasi(9M19 vs 9M20, Rp Miliar)
2,7692,125
9M19 9M20
Laba Kotor(9M19 vs 9M20, Rp Miliar)
680
339
9M19 9M20
EBITDA(9M19 vs 9M20, Rp Miliar)
291
40
9M19 9M20
Pendapatan Bersih(9M19 vs 9M20, Rp Miliar)
-8
-198
9M19 9M20
Ikhtisar Keuangan 9M20
building a better indonesia 12
Pendapatan Segmen Usaha Properti(9M19 vs 9M20, Rp Miliar)
258 279
9M19 9M20
Pendapatan Segmen Usaha Konstruksi(9M19 vs 9M20, Rp Miliar)
1,9101,672
9M19 9M20
Pendapatan Segmen Usaha Perhotelan(9M19 vs 9M20, Rp Miliar)
603
178
9M19 9M20
Ikhtisar Keuangan 9M20
building a better indonesia 13
Pendapatan Usaha Konsolidasi(2015-9M20, Rp Miliar)
Pendapatan Berulang(1)
(2015-9M20, Rp Miliar)
Note: (1) Pendapatan berulang dari hotel, sewa, parkir dan pemeliharaan.
880 660 414 442 588 258 279
3601
2,476 2,164 2,454
2,611
1,910 1,672
655
678
697 803
811
603
178
2015 2016 2017 2018 2019 9M19 9M20
Property Construction Hospitality Others
2,7692,125
4,0063,682
4,868
3,797
3,274
858 898 934
1,086 1,098
816
390
2015 2016 2017 2018 2019 9M19 9M20
Jalur Pencapaian Perusahaan
building a better indonesia 14
Marjin Laba Kotor Properti %
Marjin Laba Kotor Perhotelan%
57.2%
48.8% 51.0%
52.2%
38.4% 38.5%
0%
10%
20%
30%
40%
50%
60%
70%
2016 2017 2018 2019 9M19 9M20
63.8% 63.4% 64.7% 63.5% 63.3%
33.4%
0%
20%
40%
60%
80%
100%
2016 2017 2018 2019 9M19 9M20
Marjin Laba Kotor Konstruksi(1)
%
10.2% 9.9% 10.2% 10.4% 10.6% 10.5%
0%
5%
10%
15%
2016 2017 2018 2019 9M19 9M20
Note: (1) Includes projects within SSIA group
Marjin yang Konsisten dan Stabil
building a better indonesia 15
(in IDR Billions) 2016 2017 2018 2019 9M19 9M20
Pendapatan 3.797 3.274 3.682 4.006 2.769 2.125
Pendapatan Usaha -22% -14% 12% 9% 4% -23%
Laba Kotor 1.069 864 981 1.091 680 339
Marjin Laba Kotor 28% 26% 27% 27% 25% 16%
EBITDA 613 413 455 533 291 40
Marjin EBITDA 16% 13% 12% 13% 11% 2%
Laba Usaha 441 2.029 354 420 217 -4
Marjin Laba Usaha 12% 62% 10% 10% 8% 0%
Laba (Rugi) Bersih 62 1.178 38 92 (8) (198)
Net Profit Margin 2% 36% 1% 2% 0% -9%
Laba (Rugi) Komprehensif 45 1.157 27 53 (15) (195)
EPS
(Rupiah, setelah stock split)13 252 8 20 (2) (43)
Ikhtisar KeuanganLAPORAN LABA RUGI KONSOLIDASIAN
building a better indonesia 16
(in IDR Billions) 2016 2017 2018 2019 9M19 9M20
Properti 660 414 442 588 258 279
Persentase Unit Usaha 17% 13% 12% 15% 9% 13%
Konstruksi 2.476 2.164 2.454 2.611 1.910 1.672
Persentase Unit Usaha 65% 66% 66% 65% 69% 79%
Perhotelan 678 697 803 811 603 177
Persentase Unit Usaha 18% 21% 22% 20% 22% 8%
Lainnya 27 17 10 11 11 13
Elimination (44) (18) (26) (16) (14) (17)
Total 3.797 3.274 3.682 4.006 2.769 2.125
Ikhtisar KeuanganPendapatan Konsolidasi Unit Usaha
building a better indonesia 17
EBITDA defined as net income, before interest expenses, tax expenses,
depreciation and amortization expenses, includes JO income (loss)
(in IDR Billions) 2016 2017 2018 2019 9M19 9M20
Properti 315 139 175 244 57 60
Persentase Unit Usaha 49% 31% 32% 42% 18% 90%
Konstruksi 195 157 184 163 137 103
Persentase Unit Usaha 30% 35% 34% 28% 42% 153%
Perhotelan 138 148 186 177 130 (96)
Persentase Unit Usaha 21% 33% 34% 30% 40% -144%
Lainnya (41) (38) (81) (54) (34) (27)
Elimination 6 6 (9) 3 2 0
Total 613 413 455 533 291 40
Ikhtisar KeuanganEBITDA Konsolidasi Unit Usaha
building a better indonesia 18
(in IDR Billions) 2016 2017 2018 2019 9M19 9M20
Properti 234 80 127 159 19 (48)
Persentase Unit Usaha 77% 48% 49% 58% 15% 34%
Konstruksi 101 153 123 105105 64
Persentase Unit Usaha 33% 92% 48% 39% 80% -45%
Perhotelan (29) (66) 8 8 6 (157)
Persentase Unit Usaha -10% -39% 3% 3% 5% 111%
Lainnya (207) 1.077 (146) (156) (89) (29)
Minority Interest &
Elimination(36) (66) (74) (23) (49) (27)
Total 62 1.178 38 92 (8) (198)
Ikhtisar KeuanganKonsolidasi Laba Bersih Unit Usaha
building a better indonesia 19
Ikhtisar Keuangan - POSISI KEUANGAN KONSOLIDASIANIn IDR Billions 2016 2017 2018 2019 9M20
Aset Lancar 3.381 5.085 3.459 4.058 3.340
Kas & Setara Kas Inv. Sementara 1.520 1.145 1.372 1.527 820
Account Receivables 1.129 1.129 1.239 1.515 1.545
Inventori 392 415 463 422 457
Aset Lancar – Lain-lain 340 2,396 385 593 519
Aset tidak Lancar 3.815 3.766 3.946 4.035 4.427
Investasi pada Joint Ventures 854 410 319 327 315
Aset Real Estate 607 1.297 1.566 1.675 2.126
Aset Tetap – Bersih 1.182 1.250 1.252 1.211 1.173
Rental dan property investasi - bersih 605 768 733 707 696
Aset tidak lancer-lainnya 566 41 76 116 117
Total Aset 7.195 8.851 7.404 8.092 7.767
Liabilitas Jangka Pendek 1.896 2.640 2.033 1.713 2.089
Liabilitas Jangka Panjang 1.946 1.735 986 1.901 1.467
Kepentingan Non Pengendali 441 468 441 514 505 Ekuitas(2007 :949 juta saham, 2008, 2009 dan 2010: 1,176 juta saham, 2011-sekarang: 4,705 juta saham) 2.912 4.009 3.944 3.964 3.707
Total Liabilitas & Ekuitas 7.195 8.851 7.404 8.092 7.767
building a better indonesia 20
Note: * In July 2011, SSIA splits its stock 4-for-1, then outstanding shares become 4,705 million shares with par value Rp 125 per share
- ROE and ROA are annualized – (1) Hedged with Cross Currency Interest Rate Swap (CCIRS)
Ikhtisar Keuangan - Rasio Kinerja Utama
In IDR Billions 2016 2017 2018 2019 9M20
Hutang Bank
Denominasi Rp (dalam miliar Rp) 2.457 2.271 1.507 1.194 1.243
Denominasi USD (dalam miliar USD) - - - 662(1) 715(1)
Jumlah Hutang dalam miliar Rp 2.457 2.271 1.507 1.856 1.959
Debt to Equity Ratio 73% 51% 34% 41% 47%
ROE 2,1% 29,4% 1,0% 2,3% -7,1%
ROA 0,9% 13,3% 0,5% 1,1% -3,4%
Current Ratio 178,3% 192,6% 170,1% 236,8% 159,9%
Liability to Equity 132,0% 109,1% 76,6% 91,2% 95,9%
Liability to Asset 53,4% 49,4% 40,8% 44,7% 45,8%Nilai Buku/Saham (Rp) -par value : 2007 - Jun 2011 : Rp 500 per saham, Jul 2011 -sekarang : Rp 125 per saham 623,6 858,6 848,3 852,7 811,6
Pertumbuhan Ekuitas 0,1% 37,7% -1,6% 0,5% -6,5%
building a better indonesia 21
2
Tinjauan Unit Usaha
building a better indonesia 22
PROPERTI- PT Suryacipta Swadaya (“SCS”)- PT SLP SURYA TICON INTERNUSA(“SLP”)- PT TCP Internusa (“TCP”)- PT Sitiagung Makmur (“SAM”)
2.1
building a better indonesia 23
Source: BKPM (Indonesia Investment Coordinating Board), Colliers
29.3 28.9 32.2 29.3 28.2 21.2 21.0
14.4 16.1
19.6 24.5 25.8
18.921.5
4445
5254 54
40
42
348
175
208
186
274227
118
0
50
100
150
200
250
300
350
400
0
10
20
30
40
50
60
2015 2016 2017 2018 2019 9M19 9M20
DDI (US$ b) FDI (US$ b) Total FDI+DDI Land Sales (ha)
Foreign Direct Investment and Domestic Direct Investment Realization (LHS) vs Statistic of Industrial Land Sales in West Java Area in (RHS)
building a better indonesia 24
Source: Colliers 3Q 2020 Research
FUNDAMENTAL SEKTOR INDUSTRI
building a better indonesia 25
Source: Colliers 3Q 2020 Research
FUNDAMENTAL SEKTOR INDUSTRI
building a better indonesia 26
Note: Process chart not drawn to scale
Penjualan accounting
Pengakuan Pendapatan
usaha
Penjualan marketing
diakui
(uang muka penjualan
tercatat)
Pembayaran penuh atas
jumlah tersisa
Minimal
20% Uang Muka
(tidak dapat
dikembalikan)
)
Pembayaran sesuai
dengan metode dan
waktu pembayaran yang
telah disepakati
Serah Terima
Persiapan siteCompletion and
Handover
Akuisisi
lahanPembuatan
masterplan Pembangunan infrastruktur dasar
Bu
sin
es
s M
od
el
(In
du
str
ial/
Pro
pe
rty)
Persiapan Proyek
Dimulainya
Proses
Marketing
Penanda
tanganan
Purchase
Confirmation
Letter
(“PC”)
Customer
yang
berminat
memilih
lokasi unit
Master PlanPersiapan & Penyelesaian
KavlingInfrastruktur Dasar & Penjualan Marketing
Model Bisnis dengan Model Risiko Rendah
building a better indonesia 27
Revenue(in IDR Billions) 2016 2017 2018 2019 9M19 9M20
Industrial Estate (SCS)Land Sales 439 176 154 297 43 62
Industrial Estate (SCS)Non-Land 166 182 217 220 162 173
Rental Property
(TCP &
Others) 55 55 71 71 54 44
TOTAL 660 414 442 588 258 279
Unit UsahaProperti: Rincian Pendapatan
building a better indonesia 28
Property Business Segment Revenue(2015-9M20, IDR Billions)
Suryacipta City of Industry ASP(US$ / sqm)
825
605
358 371
517
205 235
55
55
55 71
71
54 44
2015 2016 2017 2018 2019 9M19 9M20
Industrial Estate Rental Property
258 279
150121 120 120 121
0
100
200
2015A 2016A 2017A 2018A 2019A
880
660
414442
588
Unit Usaha Properti
building a better indonesia 29
Trans Java Toll Road Network(1)
Potensi akses langsung jalan tol
ke kawasan industri Subang
Merak
Tangerang
Jakarta
Bogor
Bandung
Cirebon
Kanci
Sukabumi
Cianjur Pejagan
Pemalang
Pekalongan
Semarang
Jogyakarta
Solo
Ngawi
Mantingan
Mojokerto
Pandaan
Malang
Gempol
Banyuwangi
Pasuruan
Probolinggo
KertosonoNganjuk
SurabayaBawen
Suryacipta
City of Industry
Sumedang
Subang
Cikopo
Palimanan
Pandalarang
Kertajati
Airport
Soekarno-Hatta
International
Airport
Bekasi
Planned Toll Roads Subang
Toll Roads Operated by Jasa Marga Jakarta
Toll Roads Operated by Other Investors
Airport
Suryacipta City of Industry
• Location permit for
2,000ha in 2014,
for Industrial Estate
• Suryacipta City of
Industry – 1,400ha
location permit
• Cikopo-Palimanan
Toll Road
Melakukan sinergi dengan proyek
terkini perusahaan
Konektivitas yang meningkat di
bagian barat pulau Jawa (Banten,
Jawa Barat, dan Jakarta) yang
terhubung dengan jalan tol
Existing Port
Tanjung Priok
Planned Port
Patimban
Note: (1) Map not drawn to scale.
Batang
Subang Industrial City secara strategis berlokasi di:
• km 88 dari Jakarta
• 37.7 km away from new flagship port project
Patimban, West Java (initial capacity of 250k
TEUs)
• 75 km from new Kertajati international airport
(Opened 24 May 2018)
building a better indonesia 30
53%
24%
5%
4%
4%2%8%
Japan Indonesia India
Malaysia Swiss Belgium
Others
60%10%
9%
3%
1%
17%
Auto-related F&B
Construction Pharmaceuticals
Packaging Others
Toll
Gate
To Karawang
To Karawang
To Karawang
To Cikopo
To Jakarta
West Karawang
Interchange
Jakarta – Cikampek
Toll Road
East Karawang
Interchange
Toll
Gate
Toll
Gate
Phase II
Phase I
Jenis Tenant yang Beragam
Foreign-owned Tenants Local-owned Tenants
Tenant Landbank by Country
Community Facilities Sold Area
Industrial Area Commercial Area Utility
Phase III
Konektivitas Infrastruktur Penunjang yang Unggul
55 km dari Jakarta
80 km dari Soekarno-Hatta International airport
65 km dari Tanjung Priok seaport
90 km dari Bandung (Ibukota Jawa Barat)
Tenant Landbank by Sector
Inventory Land (ha)
License – gross 1,400
Phase 1, 2 & 3 – gross 1,400
Industrial & Commercial
land – 1 Jan 2020116
Sold up to 30 Sep 2020 –
net (3.3)
Adjustment (1.1)
Total Land bank 30 Sep 2020 –
net 112
Proyek Berkualitas Tinggi di Kawasan Industri Suryacipta
building a better indonesia 31
Dukungan kebijakan pemerintah untuk industrialisasi yang memacu pertumbuhan PMA (Penanaman Modal
Asing/FDI) dan ekspansi pabrikan domestik yang dikarenakan kapasitas mereka telah fully utilized, menjadi
pendorong utama bagi pertumbuhan penjualan di kawasan industri
Penjualan lahan –Booked 2016 2017 2018 2019 9M19 9M20
Penjualan Lahan (ha) 33,7 11,5 8,7 17,1 2,5 3,3
TOTAL Nilai Jual(dalam Rp miliar) 439 176 154 292 41 40
Penjualan Lahan
(Marketing) 2016 2017 2018 2019 9M19 9M20
Penjualan Lahan
(ha)10,4 2,1 8,3 17,8 16,7 5,6
Total Nilai Jual(dalam Rp miliar)
160 42 149 305 286 82
Unit UsahaProperti: Tinjauan Kawasan Industri
Note : Data refers to land sales in Suryacipta City of Industry, Karawang, not included Bekasi land sales
building a better indonesia 32
Glodok Plaza (GP)
90.0%
85.0%
79.0% 79.0% 78.9% 76.7%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2016 2017 2018 2019 9M19 9M20
Tingkat Hunian (%) Pendapatan (dalam Rp Miliar)
55 53
55 56
42
33
0
10
20
30
40
50
60
2016 2017 2018 2019 9M19 9M20
Unit Usaha Properti: Tinjauan Properti Persewaan
building a better indonesia 33
PT SLP
SURYA
TICON
INTERNUSA
(“SLP”)
• PT Surya Semesta Internusa Tbk (Indonesia) – kepemilikan
saham 50%
• MITSUI & CO., Ltd (Japan) - kepemilikan saham 25%
• Frasers Property Plc. (formerly Ticon Industrial Connection
Plc.) (Thailand) – kepemilikan saham 25%
• Secara bersama mengakusisi total 22ha area lahan di SLP
Karawang
• Utilisasi lahan seluas 160.255 m2 (73%) di SLP Karawang
• Existing building : 128.566 m2
• 9M20 occupancy rate : 92%
Tenant
Sector
• Logistics
• F&B
• Automotive
• FMCG
Unit Usaha Properti: Tinjauan Properti Persewaan
77.8%
92.2%
97.6% 96.3% 96.3% 92.3%
0%
20%
40%
60%
80%
100%
120%
2016 2017 2018 2019 9M19 9M20
Tingkat Hunian SLP Karawang
building a better indonesia 34
(in IDR Billions) 2016 2017 2018 2019 9M19 9M20
Pendapatan 660 414 442 588 258 279
Pertumbuhan Pendapatan -25% -37% 7% 33% 81% 8%
Laba Kotor 378 202 225 307 99 107
Marjin Kotor 57% 49% 51% 52% 38% 38%
EBITDA 315 139 175 244 57 60
Marjin EBITDA 48% 34% 40% 42% 22% 22%
Laba Usaha 304 146 177 242 45 84
Marjin Laba Usaha 46% 35% 40% 41% 17% 30%
Laba Bersih 234 80 127 159 19 (48)
Marjin Laba Bersih 36% 19% 29% 27% 7% -17%
Ikhtisar KeuanganProperti : Laporan Laba Rugi
building a better indonesia 35
Commercial Area DevelopementSuryacipta City of Industry Entrance
Toll Exit Leading to Suryacipta City of IndustrySuryacipta City of Industry Factory
Foto Suryacipta City of Industry
building a better indonesia 36
2.1.1
SUBANG SMARTPOLITAN
building a better indonesia 37
Subang Smartpolitan- A breakthrough in Indonesia
- To create a bustling new vibrant community to LIVE, WORK, LEARN and PLAY
PERESMIAN SUBANG SMARTPOLITAN 18 NOVEMBER 2020
WHAT WE OFFER
Page 40
Lokasi Strategis
▪ Masa depan koridor industri;
▪ Berada di dalam Rebana Triangle;
▪ Akses tol langsung (melewati Tol Trans
Java);
▪ Dekat dengan Pelabuhan Patimban;
▪ Dekat dengan Bandara Udara Kertajati di
Jawa Barat;
▪ Terhubung melalui jaringan rel kereta api
serta Kereta Cepat Jakarta-Surabaya yang
telah direncanakan;
▪ Kota-kota besar dapat dijangkau dalam 2 jam
(misalnya Jakarta) dengan mobil.
Labour
▪ Competitive Labour Cost (2020 =
IDR2,965,468)
▪ Ample Labour Supply (2019 >15yo = 1.2mio)
Utilitas, prasarana dan fasilitas pendukung Kelas
Dunia
KENAPA SUBANG?
Subang Smartpolitan
Jakarta
PatimbanSeaport
West Java Int’l Airport
Bandung
TanjungPriok
Seaport
Karawang
Subang CityCikarang
Central Java Province
±35Km / 40mins
±52Km / 55mins
±89Km / 95mins
±82Km / 95mins
±100Km / 132mins
±40Km / 45mins
±26Km / 35mins
±72Km / 90mins
±159Km
Page 41
MASTERPLAN
Diamond Bay (60Ha)
Akses langsung dari Cipali-
Patimban Toll
Construction: Q2-2022
Toll Exist Ready: Q2-2023
Completion: Q1-2024
Patimban Toll Road
(akses langsung ke
Pelabuhan Patimban)
Phase 1 Development
(400Ha)
Handover Q1 2023
Residential Area (40Ha)
Cipali Interchange KM89
Subang Smartpolitan, the pioneer of smart and sustainable city
development that leverages technology and IOT to promote
efficiency and security of its tenants.
With total area of 2,717Ha, Subang Smartpolitan shall be developed
in 4 phases, whereas the 1st phase development begins Q4 2020
(Ready for handover Q1 2023), including:
• Commercial;
• Industrial;
• Residential;
• Supporting infrastructures and facilities.
Subang Smartpolitan is designed to be accommodative to
Automotive, High-Precisions, Consumer Goods, Medical
Pharmaceutical, IT & Data Centre industries, as well as logistic
activities.
Page 42
SOUTH SMART CORE
South Smart Core, Pengembangan 60 Ha
berlokasi di jantung Subang Smartpolitan, memiliki :
▪ Diamond Bay:
• Marketing Gallery;
• Command Centre;
• Office Towers;
• Hotel and Apartments;
• Garden Villas (Highend F&B, Retail,
Clubhouse, Museum, Arts Centre)
▪ Education and R&D Centers;
▪ Hospitals (Medical Facility);
▪ Shopping Mall, Factory Outlets and F&B Outlets;
▪ Business Park;
▪ Theme Park and Recreational Center;
▪ Community Facilities;
▪ Sports & Entertainment.
South Smart Core Particular
• Land Coverage Ratio (KDB) : 60% of total land size
• Floor Coverage Ratio (KLB) : 600% of total land size
• Building Setback (GSB)
• Front (Main Road) : 10m
• Front (Secondary Road) : 6m
• Side : 6m
• Back : 6m
• Max. Building Height : 100m
• ROW
▪ Main Road : 30m (2 lanes, 2 ways)
▪ Secondary Road : 18m (2 lanes, 1 ways)
Page 43
SEZ SMART CORE
Riverfront Skyline(MICE Centre & Discovery Park)
Page 44
NORTH SMART CORE
Festival Gateway(TOD Eco Business Park & Creative Cluster)
• Konsorsium JM (terdiri dari PT Jasa Marga (Persero) Tbk, PT Surya Semesta Internusa Tbk, PTJasa Sarana dan PT Daya Mulia Turangga) telah menerima persetujuan sebagai PemrakarsaProyek Jalan Tol Akses Patimban dengan Right to Match sebagaimana diatur dalam SuratMenteri Pekerjaan Umum tertanggal 2 November 2017
• Sesuai dengan usulan Konsorsium JM, maka ruas Tol Akses Patimban sepanjang 37,7 kmini telah diputuskan untuk menghubungkan Pelabuhan Patimban dengan ruas tol Cipali diKM 89.
Patimban Toll Road data :
✓ Length : 37.7 km
✓ Number of lanes : 2 x 2
✓ Lane width : 2 x 3.6 m
✓ Number of interchange :
- Initial : 2 locations
- Ultimate : 3 locations
✓ Pavement : rigid & flexible pavement
✓ Terrain : mostly flat
✓ Initial traffic : 9,000 veh/day
INFRASTRUKTUR – AKSES TOL PATIMBAN
Jan – Feb 2021Pre-Qualification
Mar – Apr 2021Investment Tender
May – Jun 2021Winner Announcement
Technical Aspect
Total Length 37.7 km
Estimated Schedule
Land Acquisition 2021-2022
Construction 2022-2023
Operation 2024
• The toll track has been decided and it will pass through our development land.
INFRASTRUKTUR – AKSES TOL PATIMBAN
building a better indonesia 47
2.2
Konstruksi- PT Nusa Raya Cipta Tbk (“NRCA”)
building a better indonesia 48
Bisnis Model dengan Modal Risiko Rendah
Bis
nis
Mo
de
l
(Ko
ns
tru
ks
i)
Proses
PenunjukanPenyerahan dan
Serah TerimaProses Pembayaran Antara Pihak Terkait
Undangan Tender
Pendaftaran Tender
Negosiasi
Penunjukkan
Pembayaran
di Muka
(Jaminan Bank)
&
Performance
Bond
Pembayaran
Uang
Muka ke
Supplier
Pembayaran
Uang Muka
dari
Pemilik
Billing Bulanan
sesuai
Progress
& pembayaran
Pembayaran
ke
Supplier &
Pekerja
Serah Terima
Retention
Period
Final Delivery
And
Payment of
Retention
Minimal
10 – 20%(1)
Uang Muka
(tidak dapat
dikembalikan)
)
6% - 12%(2)
untuk mengunci
harga material
yang sensitif
terhadap kurs
US$
Pengakuan pendapatan usaha berdasarkan % penyelesaian
5% dari nilai
proyek
Penyerahan
Pertama
Catatan: (1) Berdasarkan persentase dari nilai proyek. Jumlah uang muka tergantung dari ukuran
proyek dimana 10% untuk proyek besar dan 20% untuk proyek kecil(2) Berdasarkan persentase dari nilai proyek
building a better indonesia 49
Unit Usaha Konstruksi
Pangsa Pasar Terbesar …(2014-2019, Pendapatan, Rp Triiliun)
…dan Profitabilitas diantara Perusahaan swastaProfit Margin (%) – 9M20
Kontrak BaruContract Value (IDR Bn)
Profil Customer yang kuat & loyal(2013- 9M20) Contract Value (IDR Bn), All customers 2015 – 2019
Hit Rate(1):
25-30% of Tender
Source: IDX
Note: Jaya Konstruksi revenue only from construction sector
Note: JKON* net profit includes construction and other services(1) Refers to total wins as a percentage of tenders submitted for projects
3,566(2)
3,025 2,811 2,841
2,693
2,028 1,799
780
2015 2016 2017 2018 2019 9M19 9M20
540 581 657 607
839 855
1,349 1,458
1,727 1,759
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
SINARMASGROUP
CIPUTRAGROUP
PT JAYA BUMICAKRAWALA
AYANAGROUP
SIDOMUNCULGROUP
TOKYULAND
INTILANDGROUP
MAYAPADAGROUP
AGUNGPODOMORO
GROUP
JOKG-NRC
Repeat56%
Non-repeat44%
2.62
1.90
2.47
0.90
3.95
0.0
1.0
2.0
3.0
4.0
5.0
2014 2015 2016 2017 2018 2019
Nusa Raya Cipta Jaya Konstruksi Total Bangun Persada
Nusa Konstuksi Enjiniring ACSET
3.9%
N/A
4.7%
N/A (78.4%)
Nusa Raya Cipta Jaya Konstruksi TOTAL DGIK ACSET
Nusa Raya Cipta Jaya Konstruksi TOTAL DGIK ACSET
building a better indonesia 50
82% 78%
45%
81%74%
11%13%
13%
17%
18%
2% 3%
3%
0%5% 6%
39%
1%
7%
2016 2017 2018 2019 9M20
Klasifikasi Kontrak Baru (in IDR billions)
Others (School, Hospital, etc)
Infrastructure
Industrial Building
Commercial Building ( Apartment, Office, Hotel, andShopping Center)
2,811 2,841 2,693 2,028 780
Proyek besar yang diperoleh di 9M20, antara lain:
−Lampung City Mall, Lampung
−Ext North Wing Ayana Resort, Jimbaran Bali
−Mega Surya Mas Ext. Sby, Sidoarjo
−Sekolah Tritunggal Semarang
−Electrical Carstensz Apartment Gading Serpong
−Tempo Optima Cikarang
−Thaiunion Kharisma Lestari
(in IDR Billions) 2016 2017 2018 2019 9M19 9M20
Contract on hand - beginning 3,192 3,527 4,204 4,444 4,444 3,479
Contract obtained 2,811 2,841 2,693 2,028 1,799 780
Less: Revenue progress - before elimination (2,476) (2,164) (2,454) (2,611) (1,910) (1,672)
Contract on hand - ending 3,527 4,204 4,444 3,479 4,332 2,587
Unit Usaha Konstruksi : PT Nusa Raya Cipta Tbk – Proyek Utama
building a better indonesia 51Note: NRCA Operating Result doesn’t include intercompany eliminations - ROE are annualized
(in IDR Billions) 2016 2017 2018 2019 9M19 9M20
Pendapatan 2.476 2.164 2.457 2.618 1.915 1.674 Pertumbuhan
Pendapatan -31% -13% 14% 7% 3% -13%
Laba Kotor 253 215 251 274 202 176
Marjin Kotor 10% 10% 10% 11% 11% 11%
Pendapatan dariJO 31 27 27 (1) 8 (8)
EBITDA 211 275 219 190 171 132
Marjin EBITDA 9% 13% 9% 7% 9% 8%
Laba Usaha 142 218 164 172 149 129
Marjin Laba Usaha 6% 10% 7% 7% 8% 8%
Laba Bersih 101 153 118 101 106 66
Marjin Laba Bersih 4% 7% 5% 4% 6% 4%
EPS (full amount) 41 63 48 41 44 27 ROE 9% 13% 10% 8% 12% 7%
Unit UsahaKonstruksi : Laporan Laba Rugi
building a better indonesia 52
Ikhtisar KeuanganKonstruksi : Laporan Posisi Keuangan
In IDR Billions 2016 2017 2018 2019 9M20
Assets
Kas & setara kas 447 657 736 689 565
Piutang Usaha 1.111 1.085 1.198 1.468 1.517
Uang Muka 23 31 38 34 32
Investasi Jalan Tol 125 0 0 0 0
Lain-lain 428 569 283 272 257
Total Aset 2.134 2.342 2.255 2.463 2.371
Liabilities
Hutang Bank - - 9 109 192
Hutang Usaha 509 467 471 622 561
Uang Muka dari Pelanggan 278 488 449 369 258
Lain-lain 205 184 118 142 142
Total Liabilitas 992 1.139 1.046 1.242 1.152
Ekuitas 1.142 1.203 1.208 1.221 1.219
building a better indonesia 53
Karya Berkualitas Unggul di Berbagai Sektor
RS Budi Medika (Lampung) Ayana Komodo Resort (Labuan Bajo)
The Park Mall Sawangan (Depok)
Mayapada Hospital (Bandung)
Pacific Garden (Tangerang)Pembelajaran Arntz-Geise Unpar
(Bandung)
building a better indonesia 54
Perhotelan- PT Suryalaya Anindita International (“SAI”)- PT Ungasan Semesta Resort (“USR”)- PT Surya Internusa Hotels (“SIH”)
2.3
building a better indonesia 55
Source: Colliers 3Q 2020 Research & STR Global
Jakarta Hotel Market Fundamentals
building a better indonesia 56
Source: Colliers 3Q 2020 Research & STR Global
Bali Hotel Market Fundamentals
building a better indonesia 57
200 171 151 165 147 107
34
261 286 315
397 419
314
81
162 155 151
144 144
110
26
32 66 80
97 101
72
37
2015 2016 2017 2018 2019 9M19 9M20
Gran Melia Melia Bali Banyan Tree BATIQA+PHG
811
655 678697
803
603
178
Pendapatan(2015-9M20, Rp Juta)
Tingkat Okupansi(2015-9M20, %)
Room RevPar (3)
(2015-9M20, US$)
Opened Seven BATIQA Hotels(1)
Note: (1) Locations include Karawang, Cirebon, Jababeka, Palembang, Pekanbaru, Lampung, Surabaya(2) Occupancy rate consists of the average occupancy of seven locations BATIQA Hotels(3) USDIDR of 14,918 exchange rate used to convert BATIQA room RevPar
15.0%
20.8%
14.7%
35.7%(2)
10%
20%
30%
40%
50%
60%
70%
80%
2015 2016 2017 2018 2019 9M20
Gran Melia Melia Bali Banyan Tree BATIQA
59 50 46 48 40
12
69 73 77 87 93
23
316
287 281257 254
64
19 12 14 15 14 7
2015 2016 2017 2018 2019 9M20
Gran Meliá Meliá Bali Banyan Tree BATIQA
Unit Usaha Perhotelan
building a better indonesia 58
Note: 2016, 2017, 2018 BATIQA consists of Karawang, Cirebon, Jababeka, Palembang, Pekanbaru, Lampung
BATIQA 2014, 2015 consists only BATIQA Karawang
GMJ : Gran Melia Jakarta; MBH : Melia Bali Hotel; BTUR : Banyan Tree Ungasan Resort
ARR ($) 2016 2017 2018 2019 9M19 9M20
GMJ 109 103 94 88 88 81
MBH 94 101 113 118 117 110
BTUR 442 466 468 440 441 434
BATIQA (Rp) 303.507 300.366 332.953 314.449 310.711 300.912
Room RevPAR ($) 2016 2017 2018 2019 9M19 9M20
GMJ 50 46 48 40 38 12
MBH 73 77 87 93 93 23
BTUR 287 281 257 254 256 64
BATIQA (Rp) 162.585 184.244 210.254 200.519 189.901 107.492
Total RevPAR ($) 2016 2017 2018 2019 9M19 9M20
GMJ 92 86 90 82 80 34
MBH 119 130 153 165 164 42
BTUR 448 435 388 393 400 94
BATIQA (Rp) 249.566 277.133 308.507 301.654 287.266 153.829
Unit Usaha Perhotelan
building a better indonesia 59
(in IDR Billions) 2016 2017 2018 2019 9M19 9M20
Pendapatan 678 697 803 811 603 177
Pertumbuhan Pendapatan 4% 3% 15% 1% 1% -71%
Laba Kotor 433 442 519 515 382 59
Marjin Kotor 64% 63% 65% 64% 63% 33%
EBITDA 138 148 186 177 130 (96)
Marjin EBITDA 20% 21% 23% 22% 22% -54%
Laba Usaha 23 37 73 62 47 (163)
Marjin Laba Usaha 3% 5% 9% 8% 8% -92%
Laba Bersih -29 -66 8 8 6 (157)
Marjin Laba Bersih -4% -9% 1% 1% 1% -89%
Unit Usaha Perhotelan : Laporan Laba Rugi
building a better indonesia 60
Café Gran Via
ReceptionGuest Room
Foto Gran Melia Jakarta
Red Level Reception
building a better indonesia 61
Villa Main Pool
Family Suite Room
Foto Melia Bali Hotel
Lobby Hotel
Swimming Pool
The Level
building a better indonesia 62
Foto Banyan Tree Ungasan Resort
Sanctuary Villa Cliff Edge Villa Ju-Ma-Na terrace
Sanctuary Villa Cliff Edge (jetpool) Swimming Pool – Sanctuary VillaThe White Dove Wedding Venue
building a better indonesia 63
Foto BATIQA Hotels
Exterior view of BATIQA Hotel Cirebon
FRESQA Bistro
Lobby
Suite Room
Meeting Room
building a better indonesia 64
PT Surya Semesta Internusa TbkTempo Scan Tower 20th Floor
Jl. HR. Rasuna Said Kav. 3-4
Kuningan, Jakarta 12950, Indonesia
Ph. +62 21 526 2121 / +62 21 527 2121
Fx. +62 21 527 7878
www.suryainternusa.com
These materials have been prepared by PT Surya Semesta Internusa Tbk (the “Company”, “SSIA”) and
have not been independently verified. No representation or warranty, expressed or implied, is made
and no reliance should be placed on the accuracy, fairness or completeness of the information
presented or contained in these materials. The Company or any of its affiliates, advisers or
representatives accepts no liability whatsoever for any loss howsoever arising from any information
presented or contained in these materials. The information presented or contained in these materials
is subject to change without notice and its accuracy is not guaranteed.
These materials may contain statements that constitute forward-looking statements. These statements
include descriptions regarding the intent, belief or current expectations of the Company or its officers
with respect to the consolidated results of operations and financial condition of the Company. These
statements can be recognized by the use of words such as “expects,” “plan,” “will,” “estimates,”
“projects,” “intends,” or words of similar meaning. Such forward-looking statements are not
guarantees of future performance and involve risks and uncertainties, and actual results may differ
from those in the forward-looking statements as a result of various factors and assumptions. The
Company has no obligation and does not undertake to revise forward-looking statements to reflect
future events or circumstances.
These materials are for information purposes only and do not constitute or form part of an offer,
solicitation or invitation of any offer to buy or subscribe for any securities of the Company, in any
jurisdiction, nor should it or any part of it form the basis of, or be relied upon in any connection with,
any contract, commitment or investment decision whatsoever. Any decision to purchase or subscribe
for any securities of the Company should be made after seeking appropriate professional advice.
Copyright © 2020 PT Surya Semesta Internusa Tbk All rights reserved.
BUILDING A BETTER INDONESIA
THANK YOU
Erlin Budiman
VP Head of Investor Relations
Contact: [email protected]
building a better indonesia 65