Bekasi Fajar Distributes Dividends of IDR 96.47 Billion
The PT Bekasi Fajar Industrial Estate Tbk (BeFa)’s Annual General Meeting of Shareholders (AGMS) approved the distribution of 2017 fiscal year dividends amounting to Rp10 per share for a total of Rp96.47 billion.
This dividend distribution comprises 20 percent of the consolidated net profit achieved in 2017, at a valuation of IDR 483,387 billion. Dividend distribution will be made on June 6, 2018.
The total value of the cash dividend for the 2017 financial year is 191.55 percent higher than the cash dividend in 2016, which only amounted to Rp3.43 per share. The payout ratio also increased from 9.85 percent of net income to 20 percent of net income.
During 2017, the Company recorded industrial land sales of 42.2 hectares (ha), exceeding the previously set target of 30-40 hectares.
In the first three months of 2018, the company has sold 4.4 hectares of land and has a pipeline of 79.6 hectares.
During the first quarter of 2018, the company's sales grew 14 percent to Rp211 billion, compared to the same period in 2017. EBITDA rose 24 percent to Rp130 billion and net profit increased 12 percent to Rp94 billion.
BeFa's management strategy this year is to remain focused on the development of the MM2100 industrial township, especially given the increasingly strategic value of the industrial township’s location due to infrastructure development in Bekasi and its surroundings such as the JORR II Cibitung-Cilincing, the Jakarta-Cikampek flyover, the planned construction of the Jakarta-Cikampek South toll road, the Tanjung Priok expansion project and the construction of Patimban Port.
BeFa has also developed BeFa Square, which will be operational by mid-year; built a Waste Water Treatment Plant which is targeted for completion in 2019; and optimized its industrial support facilities by leasing its Standard Factory Building and Modern Logistic Center.