PT Pakuwon Jati, Tbk.
Kode Saham: PWON.IJ (Bloomberg), PWON.JK (Reuters)
Net Profit PWON 2019 designated to strengthen Capital Structure


JAKARTA, August 25, 2020 – In public expose after Annual General Meeting of Shareholders (AGMS) PT Pakuwon Jati Tbk held at Sheraton Grand Jakarta Gandaria City Hotel, Minarto, Finance Director as well as Corporate Secretary said that as per the result of AGMS, net profit of the Company for the year of 2019 will be designated to strengthen Company’s Capital Structure so as to support sustainability of the Company’s activity, and therefore there will be no dividend being paid to shareholders. Meanwhile in 2018, Company paid out dividend of Rp 7 / share or Rp 337 billion in total.

From Semester 1 financial report of 2020, Company’s cash is sustained at Rp 4,003 billion, while per December 31, 2019 amounting to Rp 4,313 billion.


Financial Performance of 2019

PT Pakuwon Jati (PWON) booked net income of Rp 7,202 billion, an increase from last year at Rp 7,081 billion. On the other hand, comprehensive profit is recorded at Rp 3,231 billion, an increase of 13.3% from 2018 of Rp 2,851 billion.

Rp billion


2019 income composition consists of 51% recurring revenue and 49% development revenue, which is consistent with Company’s strategy to grow with balanced composition of recurring and development revenue.

Company’s recurring revenue in 2019 is recorded at Rp 3,693 billion; a 6.5% increase compared to 2018 of Rp 3,468 billion. This revenue is supported by increase of organic income from shopping centers and Company’s existing hotel.

Development revenue of Company in 2019 amounted to Rp 3,509 billion, in which is the sales recognition from Benson and La Viz apartment in Pakuwon Mall area and Amor Apartment in East Coast Mansion. Development revenue of 2018 amounted to Rp 3,613 billion.

Based on per segment revenue, condo sales and retail leasing contributed the most to up to 40% and 39%, respectively. Company’s existing Hotel and Serviced Apartments contributed 8%, landed house 7%, office leasing 4%, and office sales 2%. 

Expenses for 2019 amounting to Rp 1,822 billion are mainly to fund construction projecs of Kota Kasablanka Phase 2, Tunjungan Plaza 6, Pakuwon Mall phase 3, 4 and 5, East Coast Mansion as well as purchase of land banks.


About PT Pakuwon Jati Tbk.

Pakuwon Jati owns, manages, and develops properties established 38 years ago and has been listed on Indonesia stock exchange since 1989. The company has a very well diversified business concept through property investment in which Pakuwon develops, owns, and manages shopping malls, office centers, and hotels, as well as sells strata title offices, condominiums, and township landed houses. Pakuwon Jati will continue to grow with balanced recurring and development revenue.

Here is the portfolio of properties owned by Pakuwon Jati:

  • Superblok Gandaria City, Jakarta (retail shopping mall, apartment, office and hotel)
  • Superblok Kota Kasablanka, Jakarta (retail shopping mall, apartment and office)
  • Somerset Berlian, Jakarta (serviced apartment)
  • Blok M Plaza, Jakarta (retail shopping mall)
  • Superblok Tunjungan City, Surabaya (retail shopping mall, apartment, office and hotels)
  • Superblok Pakuwon Mall, Surabaya (retail shopping mall, apartment, serviced apartment and hotels)
  • Royal Plaza, Surabaya (retail shopping mall)
  • Pakuwon City township (landed residential), Pakuwon City (retail shopping mall), dan East Coast Mansion (apartment under construction), Educity apartment, in east Surabaya
  • Grand Pakuwon township (landed residential) dan Food Junction (Hypermarket, culinary & leisure destination), in west Surabaya

Superblok Pakuwon Mall, Bekasi (retail shopping mall, apartment, hotel that will soon begin construction)


For further information:

Minarto Basuki (Director and Corporate Secretary) 
PT Pakuwon Jati, Tbk.
EastCoast Center 5th Floor 
Jl. Kejawan Putih Mutiara No. 17, Surabaya
Telepon : (6231) 58208788