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building a better indonesia www.suryainternusa.com
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Table of Contents
Surya Semesta Internusa FY23 Outlook
in Summary of Business Segments
SSIA In Summary PROPERTY
• Development & management of industrial
Significant Events estates, real estate, buildings and commercial
centers
SSIA’s Sustainability
CONSTRUCTION
9M23 Financial Highlights • General contractor services for commercial
• Consolidated Profit & Loss buildings, mining and infrastructure
• Consolidated Balance Sheet
HOSPITALITY
• Development and management of hotels and
resorts
SUBANG SMARTPOLITAN
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Surya Semesta Internusa in Summary
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Corporate Structure and Key Projects
PT Surya Semesta Internusa Tbk
Market cap: IDR 1.7tn / US$ 115mn
100% 100% 100% 66.0% 100% 86.8% 100%
PT Nusa
Raya Cipta
PT Sitiagung Tbk PT Ungasan
PT TCP PT Suryalaya PT Surya
PT Suryacipta Makmur Market Cap: Semesta
Internusa Anindita Internusa
Swadaya (asset owner) IDR 860bn / Resort
International Hotels
US$ 55mn (operator)
• High rise • BATIQA Hotel
• Suryacipta City • Glodok Plaza • Umana Bali • Umana Bali • Gran Meliá
(retail) buildings Jakarta Karawang,
of Industry (formerly (formerly
• Commercial Cirebon,
(Industrial • SSI Tower Jumana Bali) Jumana Bali) • Meliá Bali
Estate - (formerly Graha Resort, Bali) facilities Jababeka,
Resort, Bali) Hotel
1,400ha) Surya (owns the • Large scale Palembang,
(operator)
Internusa - asset) manufacturing Pekanbaru,
• Subang office) (1) facilities
Smartpolitan Lampung,
• Edenhaus • Infrastructure
(2,717ha) (bridges, Surabaya,
Simatupang
(residential) highways and Jayapura
jetties) • The Plaza
Hotel Glodok
Property Construction Hospitality
& Infrastructure
Listed entities on IDX Subsidiary Shareholding information & Market data as of 30 September 2023. USD:IDR exchange rate of 15,526 used.
Note: (1) Currently not in operations
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SSIA Management - Strong Operating Record
Board of Commissioners
>45 Years >25 Years >50 Years >35 Years >35 Years
Experience Experience Experience Experience Experience
Hagianto Kumala Cresento Hermawan Steen Dahl Poulsen F. Bedjo Wiantono Irawan Chandra
President Commissioner Vice President Commissioner Commissioner Commissioner Independent Commissioner
Prior work experience within Astra Group
Board of Directors
>35 Years >45 Years >35 Years >25 Years >25 Years
Experience Experience Experience Experience Experience
Johannes Suriadjaja Eddy P. Wikanta The Jok Tung Wilson Effendy Sonny Satia Negara
President Director Vice President Director Director Director Director
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Surya Semesta Internusa in Summary
Company Highlights Shareholding Structure
8.8%
• Established and commenced operations in 1971, SSIA’s primary businesses PT Arman Investments Utama
are in construction, property and hospitality sectors 8.1%
PT Persada Capital Investama
Intrepid Investments Limited
• One of the Leading Listed Developers in Indonesia(1) 8.5%
Reksa Dana HPAM Smart Beta Ekuitas
SSIA BOD
– Market Capitalization of IDR 1,785bn / US$ 115mn 5.1%
0.2% Others
69.5%
– 9M23 Total Equity of IDR 4,242bn / US$ 273mn Shareholding as of 30 September 2023
Total Outstanding Shares : 4,555 million
Treasury Stock : 149.9 million shares
– FY22 EBITDA(3) of IDR 458bn / US$ 29mn
Core Businesses
– 9M23 EBITDA(3) of IDR 340bn / US$ 22mn
– Established presence in thirteen Indonesian cities Non-Recurring Recurring(2)
• Suryacipta City of Industry is the company’s pioneer project with total location Construction Hotel
permit of 1,400 ha
Industrial Estate Land Rental, Parking & Maintenance
• Subang Smartpolitan is the company’s largest project with total location permit Real Estate (Residential)
of 2,717 ha • Resorts and Villas
• High rise buildings
• Business Hotels
• Commercial and manufacturing
facilities • 5-star Hotels
• Infrastructure
Note:
(1) Market data as of 30 September 2023, based on USD:IDR of 15,526 • Suryacipta City of Industry
(2) Recurring revenue comprises that of hotel, rental, parking and maintenance.
(3) EBITDA defined as net income, before interest expenses, tax expenses, depreciation and amortization
• Subang Smartpolitan
expenses, includes JO income (loss) • Construction toll road
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PT Surya Semesta Internusa Tbk
• Operating track record in property sector can be traced back to over 50
years in early 1970s
2022
• Significant growth since IPO
2017
– Raised over IDR 545 billion equity(1) 2014 Divestment of SLP &
– Raised over IDR 1,600 billion in debt • Acquired location Divestmet SIT (3) worth total of
– Market cap increased from IDR0.6tn (IPO) to current IDR1.7tn(2) 2012 permit of 2,000 ha Cikopo Palimanan Rp562.2bn
• Issued IDR in Subang, West Toll road at 3X BV
700 billion bond Java
2010
2006 • Distribute first • Launched first
dividend since IPO BATIQA hotel in
1996 Launched
Development of in 1997 Karawang
opening
the ultra-high-end Banyan Tree • Invested in –
1991 Developed a Banyan Tree Cikopo-Palimanan
5-star Gran Ungasan
1976 Resort in Resort, Bali Toll Road
Developed 1,400 Meliã Hotel and Ungasan, Bali
hectare industrial Graha Surya
Glodok Plaza
estate Internusa Office
inauguration,
development in Building
Indonesia’s first Joint venture with
modern shopping Karawang, West Mitsui & Co and
center in Java TICON in
Chinatown, Jakarta warehousing/
factory business
Openning of Cikopo Grounbreaking
– Palimanan toll Subang Smarpolitan
road
2020
IPO of 2015
Consolidated its Conducted
stock split Nusa Raya Cipta
hospitality @ IDR 850 per share
business, PT on a ratio of
Acquired 1:4
Entered into a Listed on the Suryalaya Anindita 2013
Developed construction
property Indonesia Stock International
Meliã Bali Hotel, business, 2011
development Exchange
a 494-room, PT Nusa
company to develop 2008
5-star hotel in Raya Cipta
Golden Triangle 1997
area Nusa Dua, Bali
1994
in Kuningan
1983
1971
Note: Timeline not to scale. (1) Including IDR 132bn raised in IPO. (2) Market data as of 30 September 2023. (3) SLP : PT SLP SURYA TICON INTERNUSA, SIT : PT Surya Internusa Timur.
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Geographical Presence Across Indonesia
Presence in Thirteen Indonesian Cities
Subang Karawang
Medan Pekanbaru
• Acquired location permit of
• Regional office for Nusa Raya • Suryacipta City of Industry (1,400ha)
• BATIQA Hotel (Business Hotel, 2,717ha
Cipta (“NRCA”) 3-star, 133 rooms) - Grand • BATIQA Hotel & Apartments Karawang (Business Hotel,
• Phase 1 Development (400Ha)
opening on 26 Aug 2016 3-star, 137 rooms) - Grand opening on 18 Sept 2014
Lampung
• BATIQA Hotel (Business Hotel,
3-star, 109 rooms) - Grand
opening on 16 Sep 2016
Medan
Jababeka Karawang
Jayapura
• BATIQA Hotel (Business Pekanbaru
• BATIQA Hotel (Business
Hotel, 3-star, 127 rooms) - Hotel, 3-star, 72 rooms) -
Grand opening on 11 Nov Grand opening on 10
2015 Jababeka
Subang April 2021
Cirebon
Palembang Palembang
• BATIQA Hotel (Business Lampung
Hotel, 3-star, 160 rooms) - Semarang
Grand opening on 18 Feb Surabaya
Jakarta
2016 Bali
Jakarta Semarang Surabaya Bali Cirebon
• Gran Melia Jakarta (5-stars, 334 rooms) • Branch office for NRCA • Branch office for NRCA • Melia Bali Hotel (5-stars, 494 • BATIQA Hotel (Business Hotel,
• Glodok Plaza (35,808 sqm) • BATIQA Hotel (Business Hotel, rooms) 3-star, 108 rooms) - Grand
3-star, 87 rooms) - Grand • Umana Bali (formerly Jumana opening on 9 Sep 2015
• The Plaza Hotel Glodok, Jakarta (Budget Hotel, 91 rooms)
opening i 8 Aug 2018 Bali) - (Boutique Resort, 72
• Edenhaus Simatupang residence (41 boutique houses, 21,000 villas)
sqm)
• Branch office for NRCA
• SSI Tower Prime Grade A development (formerly Graha Surya
Internusa; 8,525 sqm landbank)
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Strategic Roadmap
Vision: To be the most a reliable, trusted and respected Indonesia property, construction and hospitality group of
companies
Continued focus on the construction and development of
1
Indonesian properties
Prudent land banking strategy to deliver sustainable and
2
superior profit margins
3 Continued product, segment, geographical diversification
Increased recurring income through hospitality and
4
commercial property business segments
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Significant Events
Jan - Nov 2023
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Significant Event Jan 2023
Toll Road Patimban Access
1. Project Scheme
Private-Public Partnership (PPP) with Supported Build
Operate Transfer (BOT) scheme
Total length : 37.05 km
Government portion : construction 22.94 km
PT Jasamarga Akses Patimban (consortium) portion :
construction 14.11 km, revenue & OM 37.05 km
Concession Period : 50 years
2. Project Timeline
1. Concession Agreement : 24 Jan 2023
2. Target Operation : Q4 2024
3. Investment Costs (PT Jasamarga Akses Patimban)
Rp 5.026 trillion
4. Shareholders (PT Jasamarga Akses Patimban)
Jasa Marga : 55%
NRCA : 22%
PP, Adhi, Wika : 6% each
Subang Sejahtera : 5%
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Subang Smartpolitan
Accessibility
Pringkasap Station Patimban Seaport
+ 40 km (direct access via Patimban Toll Road)
Toll Gate (2024)
Direct Toll Access Jakarta - Surabaya Railroad (existing)
Direct toll access via KM89 Intersection (2024)
Cikopo-Palimanan (Cipali) Toll Road Cipali - Patimban Toll Road Interchange
←
Jakarta KM98 Exit (Existing)
+ 90 km Alternative access
Bandung
+ 90 km Kertajati International Airport +70 km
Central Java +150 km
Note : Drawing is not to scale
PT . SURYAC IPT A SW ADAYA | 11
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Significant Event April 2023
Joint Ceremony – Singing of collaboration agreement between
PLN and stratergic partner, PT Suryacipta Swadaya
5 April 2023 - Cooperation in the supply and distribution of Indonesia’s Travelio has raised an undisclosed Series C
electricity for Subang Smartpolitan Integrated Green City funding round to become the undisputed leader in the
apartment rental segment – 10 April 2023
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Significant Event November 2023 Jakarta, 22 November 2023 – Ungasan, Bali 23 November 2023 – Signing a syndicated loan facility agreement between SSIA, SSIA and Hilton Debuts Umana Bali, the First LXR Hotels & PT Sarana Multi Infrastruktur, Bank Central Asia – valued Resorts in Southeast Asia Rp1.5 Tn - for the development of the Subang Smartpolitan project building a better indonesia 13
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SSIA’s Sustainability building a better indonesia 14
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ESG Parameter for 2023-2027 SSIA Group
ESG Pillars SSIA ESG Material Issues Group-wide Parameter / Target
Product • Product and Service Quality • Maintain customer satisfaction score >80 across business
• Implement innovative green building solutions
Delivering sustainable • Customer Health and Safety
• Use of eco-friendly / reuse / recycled material in development / renovation
high-quality products • Material • Maintain / obtain quality management certification (e.g., ISO9001)
and services • Economic Performance • Obtain green building certification
Environment • Energy • Reduce energy use intensity (%) or Increase renewable use mix (%)
• Reduce water use intensity (%) or Implement water reuse / recycle initiative
Preserving the • Emissions Reduce waste intensity (%) or Implement waste recycling program
environment • Water and Effluent • Maintain / add environment certification (e.g., ISO14001, PROPER)
• Occupational Health and • Maintain 0 work fatalities
People • Improve employee engagement score to achieve avg 85%
Safety • Improve training hours / employee
Looking after people
• Training and Education • Maintain / obtain health and safety certification (e.g., ISO45001)
Community • Maintain continuity of CSR program aligned to SSIA CSR policy (no. of
Contributing to • Local Communities programs, CSR spending)
communities • Maintain high level of stakeholder engagements and advocacy
• Improve completeness of policies / procedures (e.g., sustainability policy,
Sustainability
• Policy, Procedure, Governance supplier code of conduct)
Governance • Risk Rating (Sustainalytics)
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SSIA’s Sustainability: 4-pillar ESG strategy lays the foundation to
create holistic long-term value for our stakeholders
Sustainability Strategy: 2022 Sustainability Highlights:
Sustainability is an integrated part of SSIA’s
• Suryacipta received highest rank in Eco Industrial Park by
business. Aligned with its vision and mission, UNIDO, out of 50 industrial parks across 8 countries
SSIA’s ESG practices are guided by four key • Suryacipta received INDI 4.0 Special Award for Smart
pillars of ESG strategy: Industrial Estate category from Ministry of Industry
• BLUE PROPER certification by Ministry of Environment and
Forestry for Suryacipta City of Industry
Delivering sustainable high-quality
products and superior services • Suryacipta is designated as OVNI (National Vital Object in
the Industrial Sector)
• Suryacipta as one of the signatories to pledge to protect
Preserving the environment non-renewable resources at the Indonesia-German
Cooperation Forum
• Edenhaus received “Best Luxury Housing Project with
Looking after people Garden Concept” award at Indonesia My Home Award 2022
• Achieved >90% customer satisfaction across business
• Maintained zero fatalities across business
Contributing to communities • 33% increase in employee training hours
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Review 9M23 building a better indonesia 17
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Overview of Key Business Segment
Revenue Across Business Segments (9M22) Revenue Across Business Segments (9M23)
IDR 2,469bn IDR 3,020bn
Property 15% Property 13%
Construction 70% Construction 65%
Hospitality 15% Hospitality 22%
Property 0.0% 20.0% 40.0% 60.0% 80.0%
0.0% 20.0% 40.0% 60.0% 80.0%
Construction
Hospitality
EBITDA Across Business Segments (9M22) EBITDA Across Business Segments (9M23)
IDR 224bn IDR 340bn
Property 35%
Property 21%
Construction 45%
Construction 32%
Hospitality 19%
Hospitality 47%
0% 10% 20% 30% 40% 50%
0% 10% 20% 30% 40% 50%
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9M23 Financial Highlights
Consolidated Revenue Gross Profit
(9M22 vs 9M23, IDR Billions) (9M22 vs 9M23, IDR Billions)
3,020 772
2,469 553
9M22 9M23 9M22 9M23
EBITDA Net Income 9M22 net profit
(9M22 vs 9M23, IDR Billions) (9M22 vs 9M23, IDR Billions) excluding divestment
of SSIA warehousing
business, 9M23 net
9M22 9M23 profit increased by
approximately 82.7%
from -Rp137.0 billion
340 71 in 9M22.
224
-24
9M22 9M23
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9M23 Financial Highlights
Property Segment Revenue
(9M22 vs 9M23, IDR Billions)
366 414
9M22 9M23
Construction Segment Revenue Hospitality Segment Revenue
(9M22 vs 9M23, IDR Billions) (9M22 vs 9M23, IDR Billions)
1,994 666
1,765
377
9M22 9M23 9M22 9M23
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Established Track Record as a Group
Consolidated Revenue
(2017-9M23, IDR Billions)
3,682 4,006
3,615
3,274
811 2,947
803 595 3,020
2,353
697 220 2,469
666
191 377
2,611 2,456
2,454 2,082
2,164 1,994
1,665 1,765
414 442 588 652 520 623 366 414
2017 2018 2019 2020 2021 2022 9M22 9M23
Property Construction Hospitality Others
Recurring Revenue(1)
(2017-9M23, IDR Billions)
1,086 1,098
934 913 915
607
508 485
2017 2018 2019 2020 2021 2022 9M22 9M23
Note: (1) Recurring revenue comprises that of hotel, rental, parking and maintenance.
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Financial Highlights - Consolidated Balance Sheet
In IDR Billions 2018 2019 2020 2021 2022 9M23
Current Assets 3,459 4,058 3,004 3,008 3,325 2,832
Cash & ST Investments 1,527 851 782 1,136 681
1,372
Account Receivables 1,515 1,419 1,405 1,542 1,478
1,239
Inventories 463 422 490 553 376 388
Other-Current Assets 385 593 245 268 271 286
Non-Current Assets 3,946 4,035 4,616 4,744 4,965 5,169
Investment in Joint Ventures 319 327 294 280 87 47
Real Estate Assets 1,566 1,675 2,247 2,431 2,895 3,029
Fixed assets – net 1,252 1,211 1,172 1,084 1,038 1,030
Rental and investment property – net 733 707 704 692 581 730
Other-Non Current Assets 76 116 199 257 364 333
Total Assets 8,092 7,620 7,752 8,290 8,002
7,404
Current Liabilities 2,033 1,713 1,863 1,452 1,831 1,661
Non-Current Liabilities 986 1,901 1,526 2,250 2,199 2,099
Non-Controlling Interest 441 514 480 466 419 426
Equity
(2007 :949 mio shares,
2008, 2009 and 2010: 3,944 3,964 3,751 3,585 3,840 3,816
1,176 mio shares,
2011-current: 4,705 mio shares)
Total Liabilities and Equity 7,404 8,092 7,620 7,752 8,290 8,002
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Financial Highlights - Key Performance Ratios
In IDR Billions 2018 2019 2020 2021 2022 9M23
Bank/Third parties Loan
IDR denominated in IDR Billions 1,507 1,194 1,305 1,245 1,514 1,426
(1) (1) (1) (1) (1)
US$ denominated in IDR Billions - 662 676 1,059 1,034 905
Total Debt in IDR Billions 1,507 1,856 1,981 2,304 2,548 2,331
Debt to Equity Ratio 34% 41% 47% 57% 60% 55%
ROE 1.0% 2.3% -2.3% -5.6% 4.6% -0.8%
ROA 0.5% 1.1% -1.1% -2.6% 2.1% -0.4%
Current Ratio 170.1% 236.8% 161.3% 207.2% 181.5% 170.5%
Liability to Equity 76.6% 91.2% 90.3% 103.3% 104.9% 98.5%
Liability to Asset 40.8% 44.7% 44.5% 47.7% 48.6% 47.0%
Book Value/share (Rp) -
par value : 2007 - June 2011 :
848 853 818 788 844 839
Rp 500 per share, Jul 2011 - current :
Rp 125 per share
Equity Growth -1.6% 0.5% -5.4% -4.4% 7.1% 2.4%
Note: * In July 2011, SSIA splits its stock 4-for-1, then outstanding shares become 4,705 million shares with par value Rp 125 per share
- ROE and ROA are annualized – (1) Hedged with Cross Currency Interest Rate Swap (CCIRS)
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2
FY23 Outlook
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Macro Economic Condition
Advanced & Emerging Market and Developing Economic Growth Advanced & Emerging Market and Developing Inflation
Global Economic Growth *2023F-2024F using Oct 2023 World Bank Outlook *2023F-2024F using Oct 2023 IMF Outlook
*2023F-2024F using Oct 2023 IMF Outlook
Advanced EMDE
Advanced EMDE 10.0 9.2
6.3 10.0 8.7
8.0 8.4
8.0 5.3 5.0 7.4 INA Sept’23 YoY: 2.28%
5.9 5.8 8.0
5.4 5.0 5.0 6.6
6.0 4.7 5.9
3.5 3.7 4.04.3 4.2 5.5
3.5 4.0
3.1 2.92.6 2.62.7
3.2 3.0 6.0 5.0
4.64.7
3.0 2.9 2.12.1
1.5
2.2 2.0
1.5
2.2
3.9 4.1
2.0 0.71.2 1.0 1.0 3.8
3.2
3.8
3.2 2.93.1 3.2
4.0 3.0 2.7 2.8
0.0 2.1 2.3 1.9 2.2 2.3
1.6 1.6 1.7 1.8 1.8
1.4 1.4 1.3
-2.0 2.0
0.5 0.2 0.2
-4.0 -2.8
-2.1
0.0
-6.0 -4.3
2020 2021 2022 2023 F 2024 F -5.5 -0.3 -0.3
-8.0 -6.1 -6.1 -2.0 -0.9 -1.4
United States Euro Area Japan Indonesia Malaysia Vietnam Thailand China United States Euro Area Japan Indonesia Malaysia Vietnam Thailand China
-2.8 2020 2021 2022 2023F 2024F 2020 2021 2022 2023F 2024F
• Global growth remains precarious as the outlook decreases from 3.5% in
Indonesia Exports (Billion USD) Consumer Confidence Index 2022 to 3.0% in 2023. Factors such as geopolitical tensions, a gradual
350
Export Export Growth
50.0% Indonesia decline in inflation but still above the central bank's target, tightening
41.9% 140.0
300 40.0% monetary policies, banking instability, and a significant debt burden
250 30.0% are all contributing to the challenges facing global economic growth.
26.1% 128.3
200 YoY: -12% 20.0%
16.3% • Indonesia’s GDP Forecast Growth remains moderate in 2023 at 5.0% --
126.1
150
6.6%
10.0% Economic growth is driven by robust consumption, but investment,
100 0.0% 127.1 government spending, and exports are expected to weaken. Inflation is
-2.7% 120.0
50
-6.8%
-10.0% anticipated to remain controlled throughout the year, but vigilance is needed
168.8 180 167.7 163.2 231.6 292 171.5
for volatile food inflation due to potential disruptions from the El Nino
0 -20.0%
2017 2018 2019 2020 2021 2022 YTD Aug'23 phenomenon. Additionally, rising global crude oil prices should be carefully
addressed as they can directly impact the national budget and trade
Optimistic Threshold balance.
100.0
• Manufacturing activities rate expansion reported fell to 52.3 in August
Exports Imports
Trade Balance (Billion USD) from 53.9 in August which signaled expanded for a twenty-fifth straight
Trade Balance
month, although at the slowest pace since May The decline was in line
40.0 with declining output and new order growth, amid reports of stronger client
30.0 demand in key export markets.
20.6 80.0
20.0
• Indonesia’s trade balance continued to surplus for the 40th consecutive
10.0 month and higher compared to the surplus in July 2023. The surplus was
0.0 3.5 driven by an increase in non-oil and gas exports which emerged from the
-10.0 increase in metal ore and CPO commodities with high commodity prices.
-20.0
-17.2 60.0
• Consumer Confidence Index (CCI) remains optimistic at 121.7 in
May'21
Feb'22
May'22
Mar'22
Feb'23
May'23
Feb'21
Mar'23
Mar'21
Apr'22
Oct'22
Apr'23
Apr'21
Oct'21
Nov'21
Dec'21
Jun'22
Aug'22
Sep'22
Nov'22
Dec'22
Jan'23
Jun'23
Jan'21
Jun'21
Aug'21
Sep'21
Jan'22
Jul'21
Jul'22
-30.0
September 2023 supported by high Purchases of durable Goods,
Agt'22
May'23
Oct'22
Feb'23
Mar'23
Apr'23
Jun'22
Sep'22
Nov'22
Dec'22
Jan'23
Aug'23
Jul'22
June'23
Jul'23
expectations of business activities and expectations of job availability
Source: World Bank, IMF, S&P Global, Bank Indonesia, BPS
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PT SURYA SEMESTA INTERNUSA Tbk
Revenue EBITDA
(In bn Rp) (In bn Rp)
7%
24%
4,006 3,867
3,615
2,947 533 566
2,353 458
256
182
FY19 FY20 FY21 FY22 FY23F FY19 FY20 FY21 FY22 FY23F
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3
Review of Business Segments
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3.1
PROPERTY
- SSIA’s main driver
- More than 50 years track record
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Manageable Risk Business Model
Master Plan Basic Infrastructure & Marketing Sales Sites Preparation & Finishing
6-12 Months 18 Months 6-12 Months
Land Create
Build basic infrastructure Completion and
acquisition masterplan Preparation of site
Handover
(Industrial/Property)
Business Model
Execute
Interested
Marketing Purchase
customer
Preparation of projects process Confirmation Handover
choose
commence Letter
unit location
(“PC”)
Minimum Payment according to
Full payment of
20% down-payment payment method and
outstanding amounts
(non-refundable) schedule as per agreed
Marketing sales
recognized Accounting sales
Note: Process chart not drawn to scale
(Sales advance revenue recognized
recorded)
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PT Suryacipta Swadaya
Infrastructures Surrounding the Projects
Suryacipta City of Industry
Tanjung Priok Seaport
Soekarno-Hatta
International Airport
Subang Smartpolitan
Patimban Seaport
DKI JAKARTA Bekasi
PROVINCE (Regency )
Bekasi
BANTEN
(City ) Karaw ang
JAVA SEA Both projects are directly
Depok
PROVINCE
Bogor Halim
Indramay u
Kertajati
connected to the main toll road
(Regency )
Perdanakusuma Subang International Airport
Bogor
(City )
Airport Purwakarta connecting to major destinations in
Java and allowing ease of access
Cirebon
Sumedang Majalengka to seaports and airports.
Cimahi
Sukabumi West Bandung
(City ) Bandung (City )
Kuningan
Ongoing infrastructures
Sukabumi Bandung
(Regency ) Cianjur (Regency )
development in the area such as
Husein Sastranegara
International Airport Subang Smartpolitan strategically located
CENTRAL at
Ciamis
JAVA
new toll roads and high-speed
Garut PROVINCE
Tasikmalay aa
Tasikmalay
Direct Toll Access Banjar
(City )
railways benefit the projects by
Tasikmalay aa
Tasikmalay
Patimban Seaport ±40KM
(Regency )
reducing congestion and providing
INDIAN OCEAN
▬▬ Toll road - Existing
Pangandaran more convenient logistics.
▬▬ Toll road - Under construction Kertajati International Airport ±70KM
▐▌ Railroad - Existing
Jakarta City ±90KM Page 30
=== High-speed railway - Under construction
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PT Suryacipta Swadaya
Infrastructures Surrounding the Projects
Patimban
5
Seaport
Soekarno-Hatta Suryacipta City of Industry Subang Smartpolitan
International Airport
Tanjung Priok 1 Jakarta-Surabaya High Speed Railway
Seaport
2 Jakarta-Cikampek Elevated Toll Road
KM KM To Central &
KM KM KM KM KM KM KM KM KM
East Java →
JAKARTA 16 21 24 31 34 37 47 54 66 72 89 6
Bekasi Cikarang Karawang Karawang Cikampek Kertajati International Airport
Barat Barat Timur
Tambun Cibatu
Halim
Perdanakusuma Cibitung Cikarang Timur
Airport 3 Jakarta-Cikampek South Toll Road
4 Jakarta-Bandung High Speed Railway
Husein Sastranegara
International Airport
BANDUNG
1 2 3 4 5 6
▬▬ Toll road - Existing
▬▬ Toll road - Under construction
=== High-speed railway
Page 31
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Page 33
Property Business Segment
Suryacipta Karawang & Subang Smartpolitan ASP
(in thousand Rp / sqm)
1,967 1,788 1,775 1,815 1,777
1,478
602
2017 2018 2019 2020 2021 2022 9M23
Property Business Segment Revenue
(2017-9M23, IDR Billions)
652
588 623
59 520
442 71 126
414 414
91 366
55 71
73 139
593
517 497
429
359 371
293 275
2017 2018 2019 2020 2021 2022 9M22 9M23
Industrial Estate Rental Property
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High Quality Projects in Suryacipta City of Industry
Well-Diversified Current Tenant Mix
To Jakarta Home of 150 prestigious global companies
Industrial Area Commercial Area Utility
West Karawang
Community Facilities Sold Area Interchange
Jakarta – Cikampek Toll
Gate
AUTOM OTIVE BUILDING SUPPLIES
Toll Road
Toll To Karawang
Gate East Karawang
Interchange
Phase II
Toll
To Cikopo Gate To Karawang
To Karawang
Phase I
CONSUMER GOODS ELECTRONICS
Inventory Land (ha)
License – gross 1,400
Phase III
Phase 1, 2 & 3 – gross 1,400
Industrial & Commercial land
88.9
– 30 Sep 2023
Excellent Connectivity to Supporting Infrastructure
55 km from Jakarta Add/(less) reclass to infra - P H AR M AC E U T I C A L
80 km from Soekarno-Hatta International airport
65 km from Tanjung Priok seaport
Sold up to 30 Sep 2023 – net 0.6
90 km from Bandung (capital of West Java)
Total Land bank 30 Sep 2023 – net 88.3
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PROPERTY – PT Suryacipta Swadaya
MARKETING SALES ACCOUNTING SALES
(ha) 86% (ha)
Karawang Subang Karawang Subang
23
2.0
85%
12.5
78.0
2.0
21.2
20
17.8
2.0
10.1 10.5
5.6 17.1 18.0
8.9 10.8
FY19 FY20 FY21 FY22 FY23F FY19 FY20 FY21 FY22 FY23F
Note : FY20 includes land sales from phase-4 of 72 ha (Rp 233M)
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Business Segment
Property: Edenhaus Simatupang (By TCP INTERNUSA)
41 boutique houses (~Rp300 billion) Edenhaus Marketing Sales
39 units (Rp283 billion) sold per 9M23 (unit)
35 units (Rp250.7 bn)
booked as Revenue
All 41
units to be
sold in 2023
4Q23F
14 2
10
9
6
FY20 FY21 FY22 9M23
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CONSTRUCTION 3.2
- Source of SSIA steady revenue
- More than 50 years track record
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Manageable Risk Business Model
Appointment
Delivery and
Process Payment Process between Working Parties
Handover
(Up to 1 year) 1 – 3 Years
6 – 12 months
Tender Invitation
Final Delivery
Retention And
Period Payment of
Retention
Business Model
(Construction)
Tender Submission
Negotiation Advance
Payment Monthly
Down Down Payment to
(Bank Progress First
Payment Payment Supplier & Handover
Guarantee) Billing & Delivery
From Owner To Supplier Labor
Appointment & Performance Payment
Bond
Minimum
6% - 12%(2) to
10 – 20%(1)
lock in material 5% of value of
down-payment
prices sensitive project
(non-
to US Dollar
refundable)
Note: (1) Refers to a percentage of project value. Quantum of down-payment depends on size of
project, where 10% and 20% are for small and large projects respectively. Revenue recognition by % of completion
(2) Refers to a percentage of project value.
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Construction Business
Top Five Largest Market Share Top Five Largest Market Share
(2019-9M23, Revenue, IDR Trillions) (9M22-9M23, Revenue, IDR Trillions)
5.0 2.1 2.10
2.00
1.80 1.70
4.0 2.0 1.60
3.0 1.6
0.90 0.80 0.90
2.0 0.60
0.9
1.0 0.30
0.3
0.0
2019 2020 2021 2022 9M23 9M22 9M23
Nusa Raya Cipta Jaya Konstruksi Total Bangun Persada ACSET TOPS
Nusa Raya Cipta Jaya Konstruksi Total Bangun Persada ACSET TOPS
Source: IDX
Note: Jaya Konstruksi revenue only from construction sector
Strong and Loyal Customer Profile Profitability Amongst Private Companies
(2013- 9M23 Contract Value (IDR Bn), All customers Profit Margin (%) – 9M23
2,500 Repeat
56% 2,078 4.1% 3.1% 5.3% -9.7% -19.6%
2,000 Non- 1,765 1,759
repeat 3,566(2)
44%
1,500 1,349
961
1,000 815 822 835 839 855
500
Nusa Raya Jaya TOTAL ACSET TOPS
0
PT TRANS PT JAYA BUMI SINARMAS SIDOMUNCUL TOKYULAND AYANA INTILAND MAYAPADA JO AGUNG
Cipta Konstruksi
BUMI CAKRAWALA GROUP GROUP GROUP GROUP GROUP KG-NRC PODOMORO
SERBARAJA GROUP
Note: (1) Refers to total wins as a percentage of tenders submitted for projects Note: JKON* net profit includes construction and other services
building a better indonesia 38
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Business Segment
Construction : PT Nusa Raya Cipta Tbk - Major Projects
New Contract Classification (in IDR billions)
(in IDR Billions) 2020 2021 2022 9M22 9M23
1,095 2,679 2,352 1,995 2,296
8% 6% 7%
0% 16% 6% 0%
Contract on hand - 12% 21%
3,478 2,321 3,202 3,202 3,129 16% 18%
beginning 12%
39%
34%
Contract obtained 1,095 2,679 2,352 1,995 2,296
80% 75%
24% 72%
Less: Revenue progress 32%
(2,082) (1,665) (2,456) (1,765) (1,994) 21%
- before elimination
2020 2021 2022 9M22 9M23
Contract on hand - Others (School, Hospital, etc)
2,321 3,202 3,129 3,432 3,431
ending Infrastructure
Industrial Building
Commercial Building ( Apartment, Office, Hotel, and Shopping Center)
Major projects obtained in 9M23, including:
Plant Package 1 & 2 PT Akebeno Brake Astra Indonesia (AAIJ) Karawang
Capital Cove BSD Tangerang
New Contract
Nava Park BSD Tangerang Contract Value (IDR Bn)
Power H2O2 Chemical Karawang
Toll
PM3 (Brawn Paper) & Warehouse Karawang road
BCTMP Main Building Karawang 708
East Vara BSD Tangerang
RS Dirgahayu Samarinda
Museum Budaya, Sains, & Teknologi Surakarta 2,679
2,352 2,296
2,028 1,995
Luxury Hotel Labuan Bajo
1,095
Infrastruktur Subang Smartpolitan
DP Mall Expansion Semarang 2019 2020 2021 2022 9M22 9M23
building a better indonesia 39
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CONSTRUCTION - Nusa Raya Cipta
New Contract Revenue
(in bn Rp) (in bn Rp)
16%
Target FY22 :
2,721
2,679 2,000
2,456 2,300
Toll road
2,352
708
299
687
9M22
9M23 : 9M23
Rp2.3tn
2,611
2,028 1,971 2,082 1,769 2,001
1,665
1,095
FY19 FY20 FY21 FY22 11M23 FY19 FY20 FY21 FY22 FY23F
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Hospitality 3.3
- Main driver of SSIA recurring income
- More than 35 years track record
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Hospitality Business
Revenue Occupancy Rate
(2017-9M23, IDR Billions) (2019-9M23, %)
90% 82.7%
80%
70%
803 811 63.7%
60%
50% 51.6%
697 97 101 40%
666 30%
20% 18.0%
80 144
144 595 87 10%
0%
102 39 2019 2020 2021 2022 9M22 9M23
151 Gran Melia Melia Bali Jumana Bali BATIQA
(currently Umana Bali)
38
377
Room RevPar
397 419 (2020-9M23, thousand Rp)
70 416
315 26
318 1,682
220 191
1,434
54 71 190
32 15
972 993 763 901
151 165 87 32 864
147 124
73 136 91 591
47
483 439
2017 2018 2019 2020 2021 2022 9M22 9M23 339
262 237 211 231
119 163 196
160 84
Gran Melia Melia Bali Jumana Bali BATIQA+PHG
(Currently Jumana Bali) 2020 2021 2022 9M22 9M23
Gran Meliá Meliá Bali Jumana Bali BATIQA
Note: BATIQA Locations include Karawang, Cirebon, Jababeka, Palembang, Pekanbaru, Lampung, Surabaya, Jayapura (currently Umana Bali)
building a better indonesia 42
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Hospitality Business –FY23F
Occupancy Rate
Revenue (2018-2023F, %)
(2017-2023F, IDR Billions)
80.4%
90%
80%
70% 65.4%
60% 54.4%
889
50%
803 811 40%
118
30% 22.3%
697 97 101 20%
63
10%
0%
80 595
144 144 2018 2019 2020 2021 2022 2023F
Gran Melia Melia Bali Jumana Bali BATIQA
151 102 (currently : Umana Bali)
38
537 Room RevPar (3)
(2019-2023F, thousand Rp)
397 419
3,594
315 318
220 191
54
32 71
1,778
15 136 171
1,625
151 165 87 32 1,307
147
972 993
47 73 864 628 236
561 483
339
2017 2018 2019 2020 2021 2022 2023F 201 160 262 119 237
84 163 221
Gran Melia Melia Bali Jumana Bali BATIQA+PHG 2019 2020 2021 2022 2023F
(currently : Umana Bali) Gran Meliá Meliá Bali Jumana Bali BATIQA
(currently : Umana Bali)
Note: BATIQA Locations include Karawang, Cirebon, Jababeka, Palembang, Pekanbaru, Lampung,
Surabaya, Jayapura
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HOSPITALITY 2023 OUTLOOK
Melia Bali Hotel Average Room Rate
(in million Rp)
Room Occupancy
(%)
78 80
2.02
1.67 1.69 57
1.47
0.67 18
12
FY19 FY20 FY21 FY22 FY23F FY19 FY20 FY21 FY22 FY23F
Gran Melia Jakarta Average Room Rate
(in million Rp)
Room Occupancy
(%)
1.25
1.04 1.16 54
1.04
45 46
0.80
30
15
FY19 FY20 FY21 FY22 FY23F FY19 FY20 FY21 FY22 FY23F
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HOSPITALITY 2023 OUTLOOK
Umana Bali Average Room Rate
(in million Rp)
Room Occupancy
(%)
(formerly Jumana Bali)
7.98
58
6.22 6.57
5.71
4.67
22
15 15
7
FY19 FY20 FY21 FY22 FY23F
FY19 FY20 FY21 FY22 FY23F
BATIQA Hotels Average Room Rate
(in thousand Rp)
Room Occupancy
(%)
362
322 344
314 303 64 65
61
50
39
FY19 FY20 FY21 FY22 FY23F FY19 FY20 FY21 FY22 FY23F
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Travelio’s 9M-23 Achievements & Targets
Company GMV Net Live Units Growth within the Next 3 Months
(In IDR Mio)
692,314
9M-23 FY-23
+72% 13,913 +32%
403,736 17,000
Apartments
Apartments
3,541
Houses 5,900
Houses
9M-23 (Actual) FY-23 (Budget)
9M-23 Highlights:
31,067 1,887,327
+25% YoY +3,019 Mid-Long-Term
9M-23 Company GMV Growth Additional Net Live Units YTD Mid-Long-Term Bookings Room Nights Sold
building a better indonesia 46
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PT . SURYAC IPT A SW ADAYA | 47
Page 49
Subang Smartpolitan
Location
Strategic Location
The future of industrial corridor;
Within the Rebana Metropilitan;
Direct toll access (via Trans-Java toll
DKI JAKARTA Bekasi
road network);
PROVINCE
Bekasi
(Regency )
Direct Access to Patimban Seaport;
(City ) Karaw ang
BANTEN
JAVA SEA Direct Access to West Java
Depok
PROVINCE Indramay u International Airport (Kertajati);
Bogor
(Regency )
Subang Connected via railroad network as well
Bogor
(City )
Purwakarta
as the planned Jakarta-Surabaya
Cirebon
High-Speed-Train;
Major cities are reachable within 1.5
Sumedang Majalengka
Cimahi hours (e.g., Jakarta & Bandung).
Sukabumi West Bandung
(City ) Bandung (City )
Kuningan
Competitive Labour
Sukabumi Bandung
(Regency ) Cianjur (Regency )
Minimum Wage is IDR 3.273.810
Ciamis
CENTRAL JAVA
(2023)
Garut
Tasikmalay a
PROVINCE
Ample Labour Supply (850k in 2021)
(City ) Banjar
Tasikmalay a
(Regency )
World Class utilities, infrastructures
INDIAN OCEAN
and supporting facilities
Pangandaran
PT . SURYAC IPT A SW ADAYA | 48
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Subang Smartpolitan
Project Timeline
Phase 1 Subang Smartpolitan, the
- Development : Q4 2020 pioneer of smart and
- Handover : Q3 2023 sustainable city development,
- Operation : Q3 2024
Leverages technology and
Toll Road to Patimban
IOT to promote efficiency and
- Development : Q1 2024 security.
- Exit toll : Q2 2025
Total area of 2,717Ha,
Subang Smartpolitan is
developed in 4 phases,
whereas the 1 st phase
development begins Q4 2020
(Ready for handover Q3
2023), including:
• Commercial;
• Industrial;
• Residential;
• Leisure;
• Education;
• Supporting infrastructures
and facilities.
PT . SURYAC IPT A SW ADAYA | 49
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MASTERPLAN
Subang Smartpolitan is directly accessible via Cikopo-
Palimanan (Cipali) Toll Road at Cipali Interchange at
Patimban Toll Road
Km89. (direct access to Patimban Seaport)
From Kalijati Exit (Km98), Subang Smartpolitan is
approximately 13Km (25mins).
Direct Access from Cipali-Patimban Toll
Patimban Seaport
+ 40 km
Jakarta – Surabaya Railroad (direct access via Patimban
Toll Road)
KM89 Intersection
Direct Toll Access
Toll Interchange KM89
Cipali Toll Road
and Patimban Toll
Road Interchange South Smart Core (60Ha)
• Diamond Bay (4Ha)
• Education Area (14.1Ha)
Jakarta KM98 Exit • Business Centre (19Ha)
+ 90 km
Alternative
Access
Bandung Phase 1 Development (400Ha)
Kertajati Handover Q3 2023
+ 90 km
International Airport
+ 70 km
Residential Area (40Ha)
Central Java
+ 150 km
PT . SURYAC IPT A SW ADAYA | 50
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Vision: “To be the pioneer of smart and sustainable city, driving innovation
for business and community, to give the future a better place”
Subang Smartpolitan is the first integrated township in Indonesia built with smart and sustainable concept from the ground-up – with 4 pillars as the key propositions:
An integrated platform A place for
to drive innovation state-of-the-art industries
and talent development and businesses
Education and
Business
Innovation
Community Connectivity
A desirable place of living The most strategic
for the future and interconnected township
PT . SURYAC IPT A SW ADAYA | 51
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Vision Statement is translated to the components of the township
To be the pioneer of smart and sustainable city,
driving innovation for business and community, to give the future a better place
Education and
Business Connectivity Community
Pillars Innovation
(Subang A place for An integrated platform A desirable
Smartpolitan state-of-the-art industries
The most strategic and
to drive innovation and place of living for the
interconnected township
is …) and businesses talent development future
Smart and modern Direct access to Education and Eco-friendly estate
infrastructure for transportation innovation facilities in- design
industrial and networks (highway, line with business and
Technology-enabled
business area railway, seaport, market need
How it’s airport) connecting
estate governance
represented major cities Zero black-out
energy & Zero Wi-Fi
in the Smart and
blackout
sustainable mobility
township system Essential
commercial and
ICT connectivity &
amenities
State of The Art
Infrastructure
SMART AND SUSTAINABLE
PT . SURYAC IPT A SW ADAYA | 52
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Subang Smartpolitan
Smart Infrastructures
Smart Connectivity Smart Grid
Sensor
High-speed Multiple Fiber Microgrid
Monitoring
connection Optic Network system
System
IoT Network (e.g.,
LoRaWAN, NB-IoT, etc.)
Smart & Sustainable Water System
Intelligent Monitoring & Control
Sensor
Geographical Water
Smartpolitan Monitoring
Information Sensitive
Application System
System Urban Design
Smart Mobility Smart Healthcare & Education
Integrated Research &
Traffic Innovation
connecting hub development
monitoring center center
Multi modal
PT . SURYAC IPT A SW ADAYA | 54
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Subang Smartpolitan
Patimban Seaport vs. Tanjung Priok Seaport
PREFERENCE OF AUTOMOTIVE MANUFACTURERS IN HINTERLAND PATIMBAN VS. TANJUNG PRIOK FUTURE CAPACITY
14 700
In Millions of TEUs
in Thousands of CBU
600 600
12 600
10 500
8 8 400
32%
6 6 300
Patim ban 218
4
4 200
T anj ung Pr iok
68% 2 100
0 0
Source: Ministry of
Transportation Survey, 2021-2023 2024-2025 2026-2027
2017
Patimban Container Terminal (TEUs) Patimban Car Terminal (CBU)
Tanjung Priok Container Terminal (TEUs) Tanjung Priok Car Terminal (CBU)
Source: Ministry of Transportation, 2021
68% of vehicle handling volume from the hinterland will be Patimban Seaport is expected to be the country’s main port of
transported via Patimban Seaport once Phase I development is export. Upon Phase I-2 completion, Patimban will have container
completed, the remaining 32% will remain to utilise Tanjung terminal capacity of 7.5mio TEUs.
Priok Seaport.
The Patimban car terminal will have a total capacity of 600,000
CBU, doubling Tanjung Priok.
PT . SURYAC IPT A SW ADAYA | 55
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Subang Smartpolitan
Patimban Seaport Development Masterplan
Phase I-1
• Container Terminal: Phase II
250,000 TEUs • Container Terminal:
• Car Terminal : 5,000,000 TEUs
218,000 CBU • Car Terminal:
• Draft: 10m 600,000 CBU
2023-2025 2028-2032
2018-2021 2025-2027
Phase I-2 Phase III
• Container Terminal: • Container Terminal:
3,750,000 TEUs 7,500,000 TEUs
• Car Terminal: • Car Terminal : 600,000
600,000 CBU CBU
• Draft: 14m
PT . SURYAC IPT A SW ADAYA | 56
Page 57
SUMMARY
Subang is SSIA’s Subang will stimulate SSIA’s construction SSIA to generate Jump in recurring
main catalyst Indonesia Economic arm will leverage its higher growth in income through
Growth in 2030 expertise in industrial hospitality post Subang Infrastructure
& infrastructure rebranding and and ancillary services
development renovation for
strengthening its
recurring income
building a better indonesia 57
Page 58
BUILDING A BETTER INDONESIA
THANK YOU
Erlin Budiman
VP Head of Investor Relations
Contact: erlin.budiman@suryainternusa.com
These materials have been prepared by PT Surya Semesta Internusa Tbk (the “Company”, “SSIA”) These materials are for information purposes only and do not constitute or form part of an
and have not been independently verified. No representation or warranty, expressed or implied, offer, solicitation or invitation of any offer to buy or subscribe for any securities of the Company,
is made and no reliance should be placed on the accuracy, fairness or completeness of the in any jurisdiction, nor should it or any part of it form the basis of, or be relied upon in any
information presented or contained in these materials. The Company or any of its affiliates, connection with, any contract, commitment or investment decision whatsoever. Any decision to
advisers or representatives accepts no liability whatsoever for any loss howsoever arising from purchase or subscribe for any securities of the Company should be made after seeking
any information presented or contained in these materials. The information presented or appropriate professional advice.
contained in these materials is subject to change without notice and its accuracy is not
guaranteed. Copyright © 2020 PT Surya Semesta Internusa Tbk All rights reserved.
PT Surya Semesta Internusa Tbk
Tempo Scan Tower 20th Floor These materials may contain statements that constitute forward-looking statements. These
statements include descriptions regarding the intent, belief or current expectations of the
Jl. HR. Rasuna Said Kav. 3-4 Company or its officers with respect to the consolidated results of operations and financial
Kuningan, Jakarta 12950, Indonesia condition of the Company. These statements can be recognized by the use of words such as
Ph. +62 21 526 2121 / +62 21 527 2121 “expects,” “plan,” “will,” “estimates,” “projects,” “intends,” or words of similar meaning. Such
forward-looking statements are not guarantees of future performance and involve risks and
Fx. +62 21 527 7878
uncertainties, and actual results may differ from those in the forward-looking statements as a
www.suryainternusa.com result of various factors and assumptions. The Company has no obligation and does not
undertake to revise forward-looking statements to reflect future events or circumstances.
building a better indonesia 58
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building a better indonesia 59
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