BeFa Industrial Estate

On June 24, 2025, PT Bekasi Fajar Industrial Estate Tbk (the “Company”) held its Annual General Meeting of Shareholders (AGMS) at Enso Hotel, MM2100 Industrial Town, Bekasi. On the same occasion, the Company also conducted a Public Expose to shareholders and stakeholders.

One of the key outcomes of the AGMS was the approval of changes to the composition of the Board of Commissioners and Board of Directors, now as follows:

Board of Commissioners:

• President Commissioner concurrently Independent Commissioner: Mr. I Gusti Putu Suryawirawan
• Commissioner: Mr. Yoshihiro Kobi
• Independent Commissioner: Mr. Herbudianto
• Independent Commissioner: Mr. Wahyu Hidayat

Board of Directors:

• President Director: Mr. Leo Yulianto Sutedja
• Director: Mrs. Swan Mie Rudy Tanardi
• Director: Mr. Hiroki Yoshitake

This change reflects the Company’s strategic effort to strengthen its organizational structure, accelerate business strategy implementation, and adapt to future industry challenges. The Company remains consistent in its long-term strategic direction and plans.

The AGMS also resolved not to distribute dividends for the financial year ending December 31, 2024. All retained earnings will be allocated to support working capital and future business development plans.

In 2024, the Company achieved marketing sales of 13 hectares, amounting to IDR 405 billion. Total revenue reached IDR 458 billion, consisting of IDR 260 billion from land sales and IDR 198 billion from recurring income — including maintenance fees, water, service charges, and rental income — representing a 5.3% increase from 2023. Net profit for 2024 was recorded at IDR 59 billion, up from IDR 40 billion in the previous year.

For 2025, the Company targets marketing sales of IDR 600 billion and aims for stable growth in recurring income. Key sectors targeted for land development and marketing include Warehouse & Logistics, Consumer Goods, Food and Beverage (F&B), and Data Centers.

Amidst global economic and geopolitical uncertainties, and in line with Indonesia’s ongoing economic recovery, the Company continues to focus on its core industrial estate business. With over 30 years of experience, the Company remains confident in the sustained demand for reliable and professional industrial estate solutions.

November 9, 2024

PT Bekasi Fajar Industrial Estate Tbk (BEST), in collaboration with PT Megalopolis Manunggal Industrial Development (MMID) through the MM2100 Peduli platform, has successfully planted 26,058 mangrove trees in Pantai Bahagia Village, Muara Gembong District, Bekasi, West Java.

The mangrove planting initiative, which began in 2015, has made a significant contribution to the environment, economy, and society.

This activity involved the participation of 39 tenants from the MM2100 Industrial Area, such as Jotun Indonesia, Mayora Indah, and Toyota Boshoku Indonesia, and collaborated with the MM2100 Industrial Area Nature Lovers Forum (FPAKI), Human Resource Coordination and Communication Forum (FKKSM), and the Lion Club MM2100. Collaborating with many parties in this important CSR initiative, this collaboration demonstrates our commitment to environmental sustainability and positive contributions to the local community.

The mangrove planting program aims to enhance coastal protection from erosion and abrasion, while also storing carbon and supporting local biodiversity. Thanks to this ongoing effort, the coastal area is now better protected from the negative impacts of climate change.

“In addition to providing natural protection, the planted mangroves also support the local economy by increasing fishery yields and ecotourism potential. With improved water quality and a healthier ecosystem, the benefits are directly felt by the local community.”

May 28, 2024

PT Bekasi Fajar Industrial Estate Tbk (the Company) held its Annual General Meeting of Shareholders (AGMS) on May 28, 2024, at Hotel Enso, MM2100 Industrial Estate, Bekasi. The AGMS was also followed by a Public Expose. The main agenda of the event was to designate all of the Company’s net profit as retained earnings to enhance working capital in line with the Company’s business development plans.

In 2023, the Company recorded marketing land sales of 9 hectares. Total revenue for 2023 remained stable at IDR 544 billion. Revenue was contributed by land sales amounting to IDR 357 billion and recurring income of IDR 188 billion, with recurring income experiencing a 12% increase compared to 2022, mainly contributed by maintenance fees and water, rental, and hotel income. The Company successfully improved operational profitability by recording a 17% increase in net profit to IDR 40 billion.

For 2024, the Company targets marketing sales of IDR 600 billion, focusing on resilient and growing industries such as warehouse logistics, electronics, consumer goods, data centers, and electric vehicles. As of the first quarter of 2024, the Company recorded marketing sales of IDR 26 billion.

The Company continues to develop services, facilities, supporting infrastructure, and infrastructure in the MM2100 Industrial Town to support the business continuity of business actors. The MM2100 Industrial Town is one of the most strategically located industrial areas in Indonesia, where this industrial area will be the only one around Greater Jakarta to be traversed and directly accessed by the Jakarta Outer Ring Road 2.

February 27, 2024

On February 27, 2024, PT Bekasi Fajar Industrial Estate Tbk held an Extraordinary General Meeting of Shareholders (EGMS). During the meeting, the shareholders approved two key agenda items:

1. The change in the Company’s status from a Foreign Investment Company (PMA) to a Domestic Investment Company (PMDN).
2. Amendment to Article 2 of the Company’s Articles of Association, removing references related to investment without changing the duration.

The EGMS was attended by shareholders representing more than 2/3 of the total shares with valid voting rights issued by the Company, thereby meeting the quorum requirements as stipulated by applicable regulations.

On October 12, 2023, the Company signed a Term Loan Credit Agreement with PT Bank Mandiri (Persero) Tbk with a loan value of up to IDR 1,472 Trillion.

This loan will be use to repay the syndicated loan facility in United States Dollars and syndicated loans in Japanese Yen. This Credit Agreement has a loan term of 84 months. This loan has an interest rate of 7.75% per annum for the first 2 years. After this period ends, the interest rate will calculated based on 3 months JIBOR plus fixed margin.

President Director of BEST, Yoshihiro Kobi, revealed this loan, with a reasonably long maturity and competitive interest rate, this loan will optimize the Company’s capital structure and debt management. The signing of this Credit Agreement is an essential step in the Company’s financial managament plan which positively impact the Company’s business development.

PT Bekasi Fajar Industrial Estate Tbk is a company that develops and manages MM2100 industrial estate in Bekasi, West Java. With more than 30 years of experience in the industry, the Company continuously carries out sustainable development. The Company provides complete infrastructure and facilities to meet the needs of various sectors, including manufacturing, logistics, and data centers.

The Company is committed to support Indonesia’s economic growth by continuing to develop its industrial estate business with MM2100 Industrial Town. MM2100 Industrial Town has become an operating place for more than 350 national and multinational companies, making it the best and trusted industrial estate that continues to grow.

May 30, 2023

PT Bekasi Fajar Industrial Estate Tbk (the Company) Holds Annual General Meeting of Shareholders On May 30, 2023, PT Bekasi Fajar Industrial Estate Tbk (the Company) held its Annual General Meeting of Shareholders (AGMS) at Enso Hotel, MM2100 Industrial Estate, Bekasi. The AGMS was followed by a Public Expose. During the event, the main agenda was to allocate the Company’s entire net profit as retained earnings to enhance working capital in line with the Company’s business development plans.

In 2022, the Company achieved a significant increase in industrial land sales, reaching 16 hectares, compared to 4 hectares in the previous year. The Company’s total revenue rose to IDR 543 billion, driven by the growth in industrial land sales, which contributed IDR 296 billion. The Company also improved its gross profit margin to 59%. In 2022, the Company recorded a net profit of IDR 34 billion, a significant turnaround compared to a loss in 2021.

For 2023, the Company set a marketing sales target of IDR 651 billion, focusing on industries resilient to pandemic impacts and experiencing growth, such as warehouse logistics, electronics, consumer goods, data centers, and electric vehicles. The Company also launched Befa Digital Town in December 2022 to support the growing demand from the data center industry. As of the first quarter of 2023, the Company recorded IDR 51 billion in marketing sales.

The Company continues to enhance facilities, supporting infrastructure, and amenities within the MM2100 Industrial Estate to sustain the operations of businesses in the area. Infrastructure projects currently under development include the JORR II Cibitung–Cilincing toll road and the planned operation of the LRT in 2023. Other infrastructure plans, such as the construction of the Jakarta-Cikampek Selatan Toll Road, the expansion of Tanjung Priok Area, and the development of Patimban Port, will further facilitate business operations.

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

Directors:
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.

On 14 August 2020, Annual General Meeting of Shareholders of PT Bekasi Fajar Industrial Estate Tbk (“BeFa”) approved 2019 net profit to be recorded as the retained earning to strengthen the Company’s capital structure. On the same day, BeFa also held a Public Expose.

During 2019, BeFa achieved sales of 16 hectares of industrial land. The Company’s total income was Rp. 951 billion with the largest contribution from the sales of land worth Rp. 796 billion, with a net profit of Rp. 380 billion.

In the midst of a challenging Covid-19 pandemic, BeFa projects moderate performance for 2020 and has revised sales target to 10 – 15 hectares, by targeting the land sales in the second half 2020.

The potential of manufacture industry investment and other businesses such as logistics is in line with the huge growth in domestic demand, especially in the MM2100 Industrial Estate.

As it is already known, the MM2100 Industrial Estate will be passed by JORR II Cibitung – Cilincing and the tenants of the area will enjoy the benefit of having the additional access and connectivity at MM2100. In addition, the MM2100 Industrial Estate will get the advantage from the government’s future infrastructure plans for the Jakarta – South Cikampek toll road, the Tanjung Priok expansion project and the construction of the Patimban Port.