MNC Land (KPIG) a member of MNC Group, is finalizing a series of projects in the MNC Lido City Special Economic Zone (SEZ). In the second half (H2) of this year, KPIG will present Trump International Golf Club-Lido, Trump Residences Lido, and Hyatt Regency Lido.<\/p>\n

MNC Lido City SEZ is the closest Tourism Special Economic Zone to Jakarta, spanning residential, commercial, tourism, and integrated resort developments across 1,040 Ha of the total 3,000 Ha in Lido, Greater Jakarta. In the third week of July 2024, MNC Land will hold a soft launch for Trump International Golf Club- Lido. The 18-hole World Championship standard Golf Course, designed by Ernie Els, is operated by Trump Golf.<\/p>\n

Additionally, KPIG is preparing to launch Trump Residences Lido, which will begin its sales in October 2024. In Phase 1, 168 ultra-luxurious modern residences will be offered. KPIG will also hold the grand opening of Hyatt Regency Lido in the fourth quarter (Q4) of this year. Interesting to see whether a revival of Donald Trump in the US would benefit MNC Land\u2019s businesses in the coming years.<\/p>\n

KPIG recorded a net revenues of Rp352.1 billion in Q1 this year, grew 7.2% y\/y, contributed by the hotel and resort segment (53.7%), followed by property management and other services (35.1%), and office space rental (10.3%). The property management and other services segment showed significant growth of 25.8% y\/y, at RpRp123.7 billion. while the hotel and resort segment increased 9.8% y\/y, at RpRp189.2 billion.\u00a0<\/span><\/p>\n

KPIG booked net profit of Rp56 billion in Q1. The Company’s balance sheet remained stable with total assets of Rp33.5 trillion, liabilities of Rp6.7 trillion, and equity of Rp26.8 trillion. In 2023, KPIG recorded a net revenue of Rp1.42 trillion, grew 26.7% y\/y. The Company’s Ebitda reached Rp207.7 billion, grew 9% y\/y and net profit was recorded at Rp345.1 billion in 2023, a 92.3% jump.<\/p>\n

NFC Indonesia (NFCX), member of MCASH Group, said its subsidiary PT Energi Selalu Baru (ESB) has secured strategic investments from LX Ventures and SAIC Capital during its pre-Series A funding round. Previously, ESB successfully secured funds from Rigel Capital and Twin Towers Ventures.<\/p>\n

Suryandy Jahja, Managing Director of MCASH, stated that with the addition of LX Ventures and SAIC Capital, NFCX said it continues to build a strong strategic foundation, further accelerating its mission to transform the EV landscape with cutting-edge and complete solutions.<\/p>\n

LX Ventures, the corporate venture capital of LX group, previously from the LG Group, concentrates on advancing solutions in renewable energy, manufacturing and logistics automation, eco-friendly materials, and semiconductor technology. SAIC has also ventured into futuristic technology such as autonomous driving and new energy (electricity and hydrogen).\u00a0<\/span><\/p>\n

While ESB plans to leverage these investments to spread its Volta electric fleet, expand its battery swapping infrastructure, and explore innovative solutions in electric vehicle technologies. This partnership underscores both LX group and SAIC Capital\u2019s dedication to backing ground-breaking ideas that drive toward a sustainable economy. ESB has cquired 50% stake in Infi Asia E-Mobility Pte Ltd, to expand business overseas.<\/p>\n

NFCX suffered loss of Rp67 billion in Q1 this year, against Rp11 billion profit in Q1 last year, as revenue dropped 34.5% y\/y to Rp1.93 trillion. Its assets was Rp1.5 trillion by end March of 2024, while liability reached Rp692.6 billion. Then the equity was Rp824 billion. In 2023, NFCX suffered loss of Rp477.7 billion on revenues of Rp9.52 trillion. The huge loss was attributable to investment loss in affiliated-firm Telefast Indonesia (TFAS). The Company allocates Rp146 billion for capital expenditure (capex) this year.<\/p>\n

Quick service restaurant operator Fastfood Indonesia (FAST) purchased 160,427 series A shares issued by PT Jagonya Ayam Indonesia (JAI), at value of Rp160.4 billion, to maintaining its 70% share ownership in JAI, having an integrated chiken farm in Banyuwangi regency, East Java province.<\/p>\n

That said, JAI has been able to produce to up to 42,000 tons per day, or approximately 76 million tons over 5 years. Thus, JAI is able to fulfil up to 35% (thirty-five percent) of the raw and processed chicken meat supply requirements for the FAST\u2019s restaurants over a 5-year period. Other shareholders of JAI are Djajeng Pristiwan (15%) and Erwin Fransiscus Xaverius Bengie (15%).<\/p>\n

FAST suffered loss of Rp197 billion in Q1 this year, widened from Rp22 billion loss in Q1 last year, as revenue fell 17.6% y\/y to Rp1.17 trillion. In 2023, FAST recorded net loss of Rp418 billion, widened from Rp77 billion loss a previous year, as it recorded operating loss of Rp302 billion, widened from Rp42 billion loss in 2022. While revenue grew 1.7% y\/y to Rp5.93 trillion. For this year, FAST targets revenue to grow by 10% with same store growth of 6-7%.<\/p>\n

by Yohannes Obor<\/p>\n

DISCLAIMER: NO POSITION IN STOCKS MENTIONED IN THIS ARTICLE<\/p>\n","protected":false},"excerpt":{"rendered":"

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