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PT Bumi Serpong Damai Tbk
May 2013May 2013
PT BUMI SERPONG DAMAI TBK
Company OverviewCompany Overview
Company HighlightsCompany Highlights
• PT Bumi Serpong Damai Tbk (“BSDE”)
was established in 1984 by consortium
of shareholders to develop BSD City as a
Township in southwest of Jakarta
• BSDE has started its operation since
1989 and has grown to become a new
center of economy in the southern
outskirt of Jakarta
• BSD City is one of the largest city
development company in Indonesia
with total license area of 5,950 ha
• BSDE is included in various index , incl
Bisnis 27, Kompas 100, LQ45, JII and
IDX30
• BSDE acquired Duta Pertiwi (DUTI),
Sinar Mas Teladan(SMT) and Sinar
Mas Wisesa(SMW) to become the
largest property company in terms of
market capitalization(IDR 30
trillion/USD 3 billion as of 26 April
2013) (1 USD ~ IDR 9.700)]
1
61%
2%
37%
Sinarmas
Group
Other founding
shareholders
Free floating
Shareholders StructureShareholders Structure
Company Structure ChartCompany Structure Chart
BSDE
Duta
Pertiwi
Sinar Mas
Wisesa
Sinar Mas
Teladan
Bumi
Paramudita
Mas
Indonesia
International
Expo
Sentra
Talenta
Utama
Praba
Selaras
Pratama
Sinar
Usaha
Mahitala
Bumi
Parama
Wisesa
88.51% 55% 60%
99.9%99.9%49%
51% 99.9% 99.9%
Corporate ActionsCorporate Actions
2
20032003 20062006 20082008 2010 2010 -- 20122012
Issuance BSD Bond I
IDR 250B (i)
Issuance BSD Bond II
IDR 600B (ii)
IPO at offering
Price IDR 550
� Rights issue
IDR 760
� Acquisition of
DUTI (85.31%
of equity
interest)
� Capital
Injection to
SMT* (60% of
enlarged
equity)
� Capital
injection to
SMW** (55%
of enlarged
equity)
� Issuance
Continuous
Bond I IDR 1
trillion
* * SinarSinar MasMas TeladanTeladan
****SinarSinar MasMas WisesaWisesa(i)(i) RepaidRepaid in 2008in 2008
(ii)(ii) Repaid in 2011Repaid in 2011
Highest 1,790
Lowest 930
BSDEBSDE
Office Office
BuildingsBuildings
Malls and Malls and
SuperblocksSuperblocksHotels and LeisureHotels and Leisure
Recurring RevenueRecurring Revenue
Jakarta & Jakarta &
Greater JakartaGreater JakartaSurabayaSurabaya MedanMedan BalikpapanBalikpapan
Land & Land &
ResidentialResidentialApartmentsApartments
SurabayaSurabaya BalikpapanBalikpapanJakartaJakarta
Development RevenueDevelopment Revenue
City & Urban City & Urban
DevelopmentDevelopment
�� Landed ResidentialLanded Residential
�� Shop HousesShop Houses
�� Industrial Industrial EstateEstate�� Commercial LotsCommercial Lots
�� ApartmentsApartments
�� International Trade Center (ITC)International Trade Center (ITC)
�� Shopping MallShopping Mall
�� Office BuildingOffice Building
�� Estate ManagementEstate Management
�� HotelHotel
Core BusinessCore Business
3
Diversifying PortfolioDiversifying Portfolio
4
Surabaya
Wisma BII- Medan
� Plaza BII office Tower -Thamrin
� Le Grandeur Hotel –ManggaDua
� Ocean Park @ BSDCity
� MT Haryono (vacant land)
� BSD City – Serpong� Grand Wisata - Bekasi
� Kota Wisata – Cibubur� Legenda Wisata – Cibubur
� Kota Bunga - Bogor
� Taman Permata Buana –West Jakarta
� Banjar Wijaya - Tangerang� Bale Tirtawana – Bogor
� Jatiasih (vacant land)
� Cibubur (vacant land)
Presence in Indonesia 5(five) big cities
� Balikpapan Baru� Mal Balikpapan Baru
� Le Grandeur Hotel� Grand City (pipeline
project)
Balikpapan
Samarinda
Greater Jakarta
� ITC Superblock Mangga Dua� ITC Superblock Cempaka Mas
� ITC Superblock Roxy Mas� ITC Superblock Permata Hijau
� ITC Fatmawati
� ITC Depok� ITC Kuningan Ambasador
� ITC BSD� Duri Pulo (vacant land)
� LentengAgung (vacant land)
� Mangga Dua Center – Jagir� ITC Surabaya
� Wisma BII� Benowo Industrial Estate (pipeline
project)
� Lakarsantri (pipeline project)� Tanjung Sari (vacant land)
Manado
Palembang
Strong Footprint in Strong Footprint in Greater JakartaGreater Jakarta
5
Taman Banjar Wijaya
Grand Wisata
Kota Wisata
Legenda Wisata
Taman Permata Buana
Bale Tirtawana
ITC Depok
ITC Fatmawati
ITC Kuningan
Ambassador Mall
Plaza BII
ITC Superblock Mangga Dua
Le Grandeur Hotel
ITC Permata Hijau
ITC Superblock Cempaka Mas
Ocean Park
Duri Pulo – land bank
Lenteng Agung – land bank
Jatiasih, Cibubur – land bank
- 7 spacious residential projects
- 8 superblock developments
- 3 towers office buildings
- 24 ha commercial land banks in Jakarta
MT Haryono – land bank
Rasuna Jalarta – land bank
BSD City (developed since 1989)BSD City (developed since 1989)
••Development RightsDevelopment Rights : 5,950 ha: 5,950 ha
••Land acquiredLand acquired : : ±± 4,950 ha4,950 ha
••DevelopedDeveloped : : ±± 1,900 1,900 haha
Grand Grand WisataWisata, , BekasiBekasi (developed since 2005)(developed since 2005)
••Development RightsDevelopment Rights : 1,100 ha: 1,100 ha
••Land acquiredLand acquired : : ±± 865 ha865 ha
••DevelopedDeveloped : : ±± 320 ha320 ha
Kota Kota WisataWisata, , CibuburCibubur (developed since 1996)(developed since 1996)
••Development RightsDevelopment Rights : 543 ha: 543 ha
••Land acquiredLand acquired : : ±±480 ha 480 ha
••DevelopedDeveloped : : ±±362ha362ha
City and Urban DevelopmentCity and Urban Development
BSD City
Grand WisataKota Wisata
6
•• Successfully developed 10 Superblocks in spread Successfully developed 10 Superblocks in spread
around around JabodetabekJabodetabek and Surabaya with around 1,3 and Surabaya with around 1,3
million net sellable areamillion net sellable area..
•• Pioneer of ITC (strata retail mall)Pioneer of ITC (strata retail mall)
•• One of the pioneers of “superblock One of the pioneers of “superblock
developments” which combine developments” which combine
condominium, retail space and condominium, retail space and
offices offices
•• As most favorite business hub for As most favorite business hub for
wholesalers and retailerswholesalers and retailers
Commercial SuperblocksCommercial SuperblocksSuperblock Superblock ManggaMangga DuaDua
Superblock Roxy Superblock Roxy MasMas
Superblock Superblock CempakaCempaka MasMas
Superblock Superblock AmbasadorAmbasador KuninganKuningan
Superblock Superblock FatmawatiFatmawati MasMas
Superblock Superblock PermataPermata HijauHijau
Superblock Superblock ManggaMangga DuaDua SurabayaSurabaya
ITC ITC DepokDepok
ITC SurabayaITC Surabaya
ITC BSDITC BSD
Superblock Cempaka Mas
Superblock Mangga Dua Superblock
Permata Hijau
ITC ITC DepokDepok
7
Future Commercial Expansion Future Commercial Expansion
•• Mixed Mixed development, development, DuriDuri PuloPulo, Central , Central
Jakarta,16 haJakarta,16 ha
•• Mixed development,Mixed development, LentengLenteng AgungAgung, ,
South Jakarta, 5 haSouth Jakarta, 5 ha
•• Mixed development, Jakarta CBD, Mixed development, Jakarta CBD, RasunaRasuna
EpicentrumEpicentrum, 5.4 h, 5.4 h
Hotel (4 star Hotel)Hotel (4 star Hotel)
Le Grandeur Jakarta Le Grandeur Jakarta
16 stories, 352 rooms16 stories, 352 rooms
Le Grandeur Balikpapan Le Grandeur Balikpapan
5 stories, 191 rooms5 stories, 191 rooms
Investment PropertiesInvestment PropertiesJakarta Office BuildingJakarta Office Building
WismaWisma BII BII
Rentable area : 10,230 Rentable area : 10,230 sqmsqm
12 storey office building12 storey office building
Plaza BII Tower II JakartaPlaza BII Tower II Jakarta
Rentable area : 66,180 Rentable area : 66,180 sqmsqm
39 storey office building39 storey office building
Plaza BII Tower III JakartaPlaza BII Tower III Jakarta
Rentable area : 11,494 Rentable area : 11,494 sqmsqm
12 storey office building12 storey office building
Surabaya Office BuildingSurabaya Office Building
WismaWisma BII SurabayaBII Surabaya
Rentable area 23,281 Rentable area 23,281 sqmsqm
20 storey office building20 storey office building
Medan Office BuildingMedan Office Building
WismaWisma BII MedanBII Medan
Rentable area : 11,651 Rentable area : 11,651 sqmsqm
10 storey office building10 storey office building
JakartaJakarta
MedanMedan
SurabayaSurabaya
BalikpapanBalikpapan
JakartaJakarta
8
Project OverviewProject Overview
9
PHASE 1PHASE 1
1,1,5500 Ha00 Ha
PHASE 2 PHASE 2
2,000 Ha2,000 Ha
PHASE 3 PHASE 3
2,450 Ha2,450 Ha
BSD City BSD City –– Master Plan ~ 6,000 HaMaster Plan ~ 6,000 Ha
Infrastructure & FacilitiesInfrastructure & Facilities
10
InfrastructureInfrastructure
••Easy access to BSD City: Easy access to BSD City:
��2 existing toll roads2 existing toll roads
��3 future toll roads3 future toll roads
��double tracks train (executive)double tracks train (executive)
��feeder bus, link into feeder bus, link into buswaybusway
••Reliable power supply and fiber optic cables are the backbone to Reliable power supply and fiber optic cables are the backbone to
the communication infrastructurethe communication infrastructure
••Water treatment plant to provide Water treatment plant to provide continouscontinous fresh water supplyfresh water supply
••Nursery, a plant seeding cultivation center to support BSD City Nursery, a plant seeding cultivation center to support BSD City
green developmentgreen development
FacilitiesFacilities
••Lifestyle and EntertainmentLifestyle and Entertainment
��DIG Golf CourseDIG Golf Course
��Ocean Park Ocean Park WaterparkWaterpark
��TeraskotaTeraskota (lifestyle mall)(lifestyle mall)
��Clubhouse, swimming pool, movie theatersClubhouse, swimming pool, movie theaters
••Education, Health, WorshipEducation, Health, Worship
��More than 63 education institutionMore than 63 education institution
��±± 5 hospitals5 hospitals
��Mosque, church, templeMosque, church, temple
••Service: traditional market, fire fighter, 24 hour securitiesService: traditional market, fire fighter, 24 hour securities
Phase IPhase I ~ 1,500 Ha~ 1,500 Ha
Green CoveGreen Cove
SunburstSunburst Office ParkOffice Park
o
11
ITCITC BSDBSD
SevillaSevilla
••Development started in 1989 and currently at completion stageDevelopment started in 1989 and currently at completion stage
••Population around 150.000Population around 150.000 peoplepeople
••30.000 Residential and Commercial Units30.000 Residential and Commercial Units
Taman Taman TeknoTekno
The GreenThe Green
Phase IIPhase II-- ResidentialResidential
12
De Park (66 ha)De Park (66 ha)
Launch in 2010 and 2011Launch in 2010 and 2011
SubSub--CluterCluter dede CajuputiCajuputi dede FrangipaniFrangipani de de HeliconiaHeliconia dede BrassiaBrassia dede MajaMaja
DevelopmentDevelopment
AreaArea
15 ha15 ha 7.17.1 haha 9 ha9 ha 11 ha11 ha 13 ha13 ha
UnitsUnits 250250 9595 9999 9090 160160
Price RangePrice Range
In billionIn billion
IDR 1.28 IDR 1.28 ––
IDR 2.54 IDR 2.54
IDRIDR 1.8 1.8 ––
IDR 3.2IDR 3.2
IDRIDR 2.12.1––
IDR 5.2IDR 5.2
IDR 4.1IDR 4.1 ––
IDR 7.2 IDR 7.2
IDR 3.7IDR 3.7--
IDRIDR 7.57.5
TypeType
InIn sqmsqm
BB 185 185 -- 335335
L 210 L 210 -- 450 450
B 185B 185 -- 310310
LL 210 210 -- 375375
BB 200200 -- 348348
L 250 L 250 -- 630630
BB 300 300 --348348
L 300 L 300 –– 12001200
B 230B 230--348348
L 250L 250--630630
Phase IIPhase II-- ResidentialResidential
13
The The AvaniAvani (54 ha) (54 ha) Launch in 2011Launch in 2011
SubSub--CluterCluter NittayaNittaya & &
AleekaAleeka
AmmarilaAmmarila LavanyaLavanya ChadnaChadna AnanthaAnantha DeshnaDeshna & &
DivenaDivena
INIKA INIKA
IslandIsland
DevelopmentDevelopment
AreaArea
15 ha15 ha 4.7ha4.7ha 5.1 ha5.1 ha 3.1 ha3.1 ha 6.7 ha6.7 ha 8.4 ha8.4 ha 8 ha8 ha
UnitsUnits 306306 79 79 182182 5151 236236 159159 9696
Price RangePrice Range
In billionIn billion
IDR .70IDR .70––
IDR 2.7 IDR 2.7
IDR .830 IDR .830 --
IDR 2.9IDR 2.9
IDR 2.2 IDR 2.2 ––
IDR 3.1IDR 3.1
IDR 1.1 IDR 1.1 ––
IDR 1.6IDR 1.6
IDR 1.5IDR 1.5--IDR IDR
4.14.1
IDR 1.9IDR 1.9--
IDRIDR 3.63.6
TypeType
InIn sqmsqm
BB 75 75 -- 225225
L 115 L 115 -- 450 450
BB 85 85 -- 111111
L 85 L 85 -- 180180
BB 175 175 -- 225225
L 175 L 175 –– 300 300
B 175 B 175 –– 225225
L 220 L 220 -- 300300
B 99 B 99 –– 125125
L 128 L 128 -- 180180
B 111B 111--226226
L 160L 160--528528
B 128B 128
L 162L 162--400400
Phase II Phase II -- Green Office Park (25 Ha)Green Office Park (25 Ha)
14
Green Office Park 25 haGreen Office Park 25 ha
Gold Award for Green Mark DistrictGold Award for Green Mark District
Certified by Building Construction Authority Certified by Building Construction Authority
(Singapore)(Singapore)
••MicroMicro--climate optimizationclimate optimization
••Plan to construct 10 lowPlan to construct 10 low--rise, low density office buildingrise, low density office building
•• SinarSinar MasMas Land Plaza completed construction 4Q2011 Land Plaza completed construction 4Q2011
and fully occupied in January 2012 as and fully occupied in January 2012 as SinarSinar MasMas Land’s Land’s
Headquarter.Headquarter.
••Anchor tenant Unilever IndonesiaAnchor tenant Unilever Indonesia
••Breeze Life Style mall under constructionsBreeze Life Style mall under constructions
••Second office building coming in 2014Second office building coming in 2014
•• Awarded as The Best Green Development by South East Awarded as The Best Green Development by South East
Asia Asia PasificPasific Award 2012Award 2012
SinarSinar MasMas Land PlazaLand Plaza
Phase II Phase II –– Breeze Life Style MallBreeze Life Style Mall
15
• as destination for dinning, leisure, and lifestyle center
• comfortable area support by green belt area and Cisadane natural river view
• been confirmed by % tenants, mostly food and beverage • part of investment property, 20,000 sqm net leasable building area
Phase II Phase II –– Upcoming DevelopmentUpcoming Development
16
Indonesia International ExhibitionIndonesia International Exhibition
• On 22 hectares land area will be developed 100,000 to 150,000 sqm exhibition hall, and support by other commercial developments e.i. hotels.
• Jointly with Kompas Gramadia Group, local hotels developers and national newspaper printer
• Target to be operated in 2014
Phase II Phase II –– Upcoming DevelopmentUpcoming Development
17
AEON MallAEON Mall• On 10 hectares land area will be built 125,000 to 150,000 sqm retail space
• Jointly develop with AEON from Japan
• Target to be operated in end 2014
Phase II Phase II –– Upcoming DevelopmentUpcoming Development
18
SaveriaSaveria ApartmentApartment• Launched in November 2012 (Sold out)
• Two towers apartment, 640 units, from studio to two bedrooms type
• Targeting middle to middle low income segment
• Target to be hand over in 2015
Phase II Phase II –– Upcoming DevelopmentUpcoming Development
19
Toll Road Toll Road SerpongSerpong BalarajaBalaraja• BSDE as initiator of this proposed toll road
• + 30 KM long , 3 to 4 lanes, including 10 KM on first section within BSD City
• Jointly entering consortium
• Target to be operated in 2016
Joint Venture Residential Joint Venture Residential –– Hong Kong LandHong Kong Land• 65-68 hectares land area for residential, aim for high end product
• Plan to develop landed, low rise and mid rise housing
• Target to launch in 4Q 2013
Education CenterEducation Center
20
••Integrated education center within one areaIntegrated education center within one area
••Located at near by residential area BSD City Located at near by residential area BSD City
••Two universities has existed:Two universities has existed:
Swiss German University (10 Ha)Swiss German University (10 Ha)
PrasetiyaPrasetiya MulyaMulya Business School (10 Ha)Business School (10 Ha)
••Various international and well known local Various international and well known local
schools:schools:
Jakarta Jakarta NanyangNanyang International SchoolInternational School
SinarmasSinarmas World AcademyWorld Academy
Santa Ursula Catholic schoolSanta Ursula Catholic school
AlAl--AzharAzhar Islamic SchoolIslamic School
BinusBinus International SchoolInternational School
Deutsche Deutsche SchuleSchule
OraOra Et Et LaboraLabora
EtcEtc
Swiss German UniversitySwiss German University
PrasetyaPrasetya MulyaMulya Business SchoolBusiness School
Grand Grand WisataWisata –– Master Plan 1,100 HaMaster Plan 1,100 Ha
21
Financial OverviewFinancial Overview
2011 2012 1Q13
12,787
16,757 17,806
4,530
6,225 5,973
8,257
10,532 11,833
Assets Liabilities Equities
2011 2012 1Q12 1Q13
2,806
3,728
800
2,077 1,785
2,381
499
1,411
841
1,287
266
1,244
Revenues Gross Profit Net Profit
Financial PerformancesFinancial Performances
22
• 5y Revenues CAGR = 31%
• 5y Net Profit CAGR = 58%
• 5y Assets CAGR = 45%
• 5y Liabilities CAGR = 30%
• 5y Equities CAGR = 55%
• Maintaining 80 : 20 proportion of sales development
income and recurring income
17%
7% 8%
2011 2012 1Q13
76% 81%91%
24% 19%9%
Development Revenue Recurring Income
64%
34%30%
12%
62%
32% 33%
3%
64%
38%35%
16%
80%
70%
60%
11%
Gross Margin Operating Margin Net Margin Return on Equity*
2011 1Q12 2012 1Q13
Profitability HighlightsProfitability Highlights
23
Gross MarginGross Margin 20112011 20122012 1Q121Q12 1Q131Q13
ResidentialResidential 48%48% 47%47% 46%46% 53%53%
LandLand 71%71% 76%76% 75%75% 84%84%
CommercialCommercial 55%55% 56%56% 54%54% 59%59%
Recurring IncomeRecurring Income 90%90% 85%85% 89%89% 91%91%
• Maintaining >
60% gross
margin
• Maintaining > 30% net
margin
* After deducting minority interest
Revenues CompositionRevenues Composition
24
47%
24%
6%
12%4%
7%
2011
Housing Land Commercial Rental Hotel Estate Management
46%
27%
7%
10%3% 6%
2012
51%
26%
3%
10%4% 6%
1Q12
16%
74%
1% 5%
1%
3%
1Q13
DividendDividend Pay OutPay Out
223309
394
841
44 66 105175
2008 2009 2010 2011IDR In Bn
Net Income Dividend %NI
2277%%
DescriptionDescription 20082008 20092009 20102010 20120111
NumberNumber of Sharesof Shares 10,935,633,87010,935,633,870 10,935,633,87010,935,633,870 17,496,996,59217,496,996,592 17,496,996,59217,496,996,592
IDR/ShareIDR/Share 44 66 66 1010
25
21%21%
21%21%2200%%
Financial HighlightsFinancial HighlightsBalance SheetBalance Sheet 2011(IDR in 2011(IDR in
bnbn))
2012 (IDR 2012 (IDR
in in bnbn))
% %
YoYYoY
1Q13 1Q13 (IDR (IDR
in in bnbn))
% YTD% YTD
Cash and cash equivalent Cash and cash equivalent 3,4793,479 3,9613,961 +14%+14% 3,7443,744 --6%6%
Inventories Inventories 3,0123,012 3,3753,375 +12%+12% 3,2553,255 --4%4%
Land for developmentLand for development 3,7203,720 6,5206,520 +75%+75% 7,4587,458 +14%+14%
Total assetsTotal assets 12,78712,787 16,75716,757 +31%+31% 17,80617,806 +6%+6%
Bonds payableBonds payable 499499 990990 +98%+98% 991991 --
Bank loanBank loan 9797 9191 --6%6% -- --100%100%
Sales advancesSales advances 2,8132,813 3,8083,808 +35%+35% 3,5523,552 --7%7%
26
*Consolidated net income after deducted non*Consolidated net income after deducted non--controlling interestscontrolling interests
Profit and LossProfit and Loss 20112011(ID(ID
R in R in bnbn))
2012 (IDR 2012 (IDR
in in bnbn))
% % YoYYoY 1Q12 (IDR 1Q12 (IDR
in in bnbn))
1Q13 (IDR 1Q13 (IDR
in in bnbn))
% % YoYYoY
RevenuesRevenues 2,8062,806 3,7283,728 +33%+33% 800800 2,0772,077 +160%+160%
Gross ProfitGross Profit 1,7851,785 2,3802,380 +33%+33% 499499 1,6591,659 +232%+232%
Operating profitOperating profit 961961 1,4321,432 +49%+49% 258258 1,4111,411 +447%+447%
Net Income*Net Income* 841841 1,2871,287 +53%+53% 266266 1,2441,244 +368%+368%
EPS (fullEPS (full IDR)IDR) 48.0548.05 73.5073.50 +53%+53% 15.1515.15 71.0671.06 +368%+368%
Thank YouThank You
Thank YouThank Youwww.bsdcity.com
DisclaimerDisclaimer
• No representation or warranty express or implied is made as to, and no reliance should be placed on, the fairness,accuracy, completeness or correctness of the information or opinions contained herein. The Company shall nothave any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this
document or its contents or otherwise arising in connection with the document.
• This document may contain forward-looking statements and estimates with respect to the future operations and
performance of the Company and its affil iates. Investors and security holders are cautioned that forward-lookingstatements are subject to various assumptions, risks and uncertainties, many of which are difficult to predict and
are generally beyond the control of the Company. Such assumptions, risks and uncertainties could cause actualresults and developments to differ materially from those expressed in or implied by the forward-lookingstatements. Factors that could cause actual results and developments to differ materially from those estimated by
the forward-looking statements include, but are not limited to, property prices and demand and supply ofproperties. Accordingly, no representation or warranty, either express or implied, is provided in relation to the
accuracy, completeness or reliability of the information contained in this document, nor is it intended to be acomplete statement or summary of the property markets or developments referred to in this document. It shouldnot be regarded by recipients as a substitute for the exercise of their own judgment. Neither the Company and
any other person assumes responsibil ity for the accuracy, reliability and completeness of the forward-lookingstatements contained in this document. The forward-looking statements are made only as of the date of this
document. The Company is under no duty to update any of the forward-looking statements after this date toconform such statements to actual results or developments or to reflect the occurrence of anticipated results orotherwise
Contact InfoContact Info
PT BUMI SERPONG DAMAI TBK
Sinar Mas Land Plaza, Wing B, 3rd Floor
Jl. Grand Boulavard, BSD Green Office Park BSD City
Tangerang 15345
Indonesia
Phone : +62 21 50 368 368
Fax : +62 21 537 3008
Website : www.sinarmasland.com
• Hermawan Wijaya, Director
• Christy Grassela, Head of Investor Relations