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By analizing the growth of Indonesian economics during the year 2008 and also attainment of our business performance, we’re convince that transformation of 5 years forward could be reached.
ANALYSIS OF BUSINESS PROPERTY IN 2008
In 2008 macro economy condition has unstable economy as impact of :
- Governmental policy to increase domestic fuel price.
- Governmental Policy to increasing Indonesia Central Bank’ interest rate as 9.25%.
- Global monetary crisis that impact to real sector and affected
to decreasing consumer’s purchase power Inflation in 2008 achieve 11.06%,economy growth only 4.1% Banking plicy to tied credit at property sector and increasing KPR interest rate up to 18%.influence the property business sector grow slowly.
SUMMARY OF BUSINESS PERFORMANCE
Company’s performance majority as result of revenue in first semester in 2008. The Third amd fourth quarter, as impact of governmental policy to increase Indonesia Central Bank, tied credit at property sector, and global monetary crisis, effect property market demand to stagnant.
Until the end of 2008 revenue has been achied as amount of Rp 106,89 billion or decrease 56,57% compare 2007 as Rp 246,12 billion. The Impact of decreasing revenue is net profit in 2008 has adjusted to Rp 55,24 billion or decrease 49,28% compare 2007.
Henry Jocosity Gunawan
President Director
In financial position, the company’s assets is Rp 1,791.37 billion or increased 14.04% from the year 2007 of Rp 1,570.85 billion. This significant increase in assets most is in the form of real estate asset inventory, land reserve for business development in future, cash reserve for working capital, and investment in marketable short-therm securities.
During 2008 the company has developed residential projects located :
- La Foye residential is develop 58 unit, located Jl. Dukuh Kupang, West Surabaya.
- La Primera residential project is develop 96 unit, located Jl. Jajar Tunggal, West Surabaya.
- The company has also developed industrial warehousing, located inl Permata Gedangan industrial estate Sidoarjo.
FUTURE BUSINESS DEVELOPMENT
In 2009 macro economic indicator show condition trend which predicted better than 2008. Decreasing Certificate of Bank Indonesia’ interest rate at 8.25%, governmental policy to decrease domestic fuel price, and increasing rupiah currency rate to US dollar. The condition will be expected influence economic growth as 4% in 2009, and drive real sector’s business spirit. The governmental policy to increase subsidy of interest in housing property interest to Rp 2,5 trilliun will stimulated consumer enthusiasm to buy the house with low interest.
But we still have to conservative in make the decision, because property’s financing depended on banking guarantee in give the liquidity diffuseness at property sector and decreasing KPR interest rate.
Consequently that can be expected, and also to response macro economic growth, and governmental policy, in 2009 company will focused at residential sector to trade the 2 projects of La Foye and La Primera which located in West Surabaya.
Finally, on behalf of the Board of directors, allow me to thank all stakeholders, that is business partner and stockholder whom supported company’s success. With solidarity and also stronger unity, the Company will have better business opportunity in the future.