Jakarta (30/05) – The property development company PT Intiland Development Tbk (Intiland; DILD) held its Annual General Meeting of Shareholders (AGMS) for the fiscal year ending December 31, 2023. The Annual GMS, attended by shareholders, the Board of Commissioners, and the Board of Directors of the Company, was conducted at Intiland Tower, Jakarta, on Thursday (30/5), and virtually through the service of EASY Indonesia Central Securities Depository (KSEI).
Shareholders approved the seven meeting agendas proposed by the Company. These included the Approval of the Annual Report and the Ratification of the Company’s Financial Statements, the Allocation of Net Profit, the Determination of Remuneration for the Board of Commissioners and the Board of Directors for 2024, the Appointment of an Independent Public Accounting Firm, changes in the composition of the Company’s Board of Directors and Board of Commissioners, and the Report on the Realization of the Use of Proceeds from Public Offerings.
Regarding the agenda on changes in the composition of the Company’s Board of Directors and Board of Commissioners, Intiland’s Corporate Secretary, Theresia Rustandi, stated that shareholders had accepted the resignation of Moedjianto Soesilo Tjahjono from his position as Deputy President Director of the Company and Ping Handayani Hanli from her position as Director of the Company.
“Subsequently, the Annual GMS approved the appointment of Ping Handayani Hanli as Commissioner and Novita Anggriani as the new Director of the Company,” Theresia said at the 2024 Annual GMS press conference at Intiland Tower Jakarta, on Thursday, May (30/05).
Novita Anggriani has been with Intiland since 2015, holding several key positions such as General Manager of the Company and Director at several subsidiaries.
Prior to joining Intiland, Novita Anggriani had experience in the real estate sector with strategic roles at PT Jones Lang LaSalle Indonesia, the Indonesian Bank Restructuring Agency, and PT Colliers Jardine Indonesia.
Novita Anggriani completed her Master of Business degree in banking and finance from Monash University, Melbourne, Australia, in 2005. Previously, in 1996, she earned a Bachelor of Real Estate degree from Tarumanagara University, Jakarta.
“The changes in the composition of the Board of Directors and the Board of Commissioners will strengthen Intiland’s management team. We believe these changes will have a positive impact on the company’s development in the future and over the long term,” said Intiland’s Director of Capital and Investment Management, Archied Noto Pradono.
Through the Annual General Meeting of Shareholders, the company’s shareholders also approved the allocation of net profit of the Company for the year ended December 31, 2023 amounting to Rp174.1 billion. From this net profit, Rp2 billion will be allocated as the as the Company’s mandatory reserved fund, and the remaining net profit of Rp172.1 billion will be recorded as retained earnings.
In addition to this agenda, the company also reported on the realization of the use of funds from the Public Offering of Intiland Development’s Sustainable Sukuk Ijarah I Phase III 2022, amounting to Rp250 billion.
As of December 31, 2023, the company has utilized all the obtained funds according to their intended purposes. Rp119.9 billion was used to partially repay the principal debt of the company and its subsidiaries, Rp126.8 billion was used to increase the company’s working capital and its subsidiaries, and the remaining Rp3.2 billion was used for public offering expenses.
Performance Growth
The company interprets 2023 as a crucial moment for the national property sector’s recovery. Despite facing various industry challenges, the company continues to innovate and strive to enhance its business performance.
Archied disclosed that Intiland’s performance in 2023 improved relatively compared to the previous year. The company recorded a gross revenue of Rp3.9 trillion, an increase of Rp758.1 billion or 24 percent compared to 2022.
Development income contributed Rp3.1 trillion or 80.3 percent of the total, marking a 29 percent increase compared to 2022. Meanwhile, recurring income contributed Rp771 billion or 19.7 percent of the total, with this segment experiencing a 7 percent increase compared to 2022.
Archied mentioned that the challenges to be faced in 2024 are still quite significant. However, Intiland will continue to seek the best solutions to sustain long-term business growth.
“We are continuously striving to improve performance, achieve growth targets, and increase sales. It may not be easy, but we believe we can execute the best strategies to achieve the company’s long-term goals,” said Archied.
In the first quarter of 2024, the company recorded marketing sales of Rp232.6 billion, a decrease of 3.1% from Rp240.1 billion in the first quarter of 2023. The main contributors came from sales in the landed housing segment amounting to Rp117.8 billion, mostly from the sale of housing units in Serenia Hills, Talaga Bestari, Virya Semanan, Magnolia Residence, and Tierra.
The mixed-use & high-rise segment recorded marketing sales of Rp32.6 billion, mainly from the sale of ready-to-sell stock in high-rise projects in Jakarta and Surabaya. Meanwhile, the industrial estate development segment recorded marketing sales of Rp82.2 billion from the sale of industrial lots in Batang Industrial Park and warehouses in Aeropolis Technopark, Tangerang.
“We are striving to achieve this year’s marketing sales targets, especially from the sale of ready-to-use units in housing and apartment projects in Jakarta, Tangerang, and Surabaya,” said Archied.
Meanwhile, the company’s gross revenue for the first quarter of 2024 amounted to Rp710.9 billion, a decrease of 53.9 percent from Rp1.54 trillion in the same period in 2023. Development income contributed Rp508.7 billion or 71.6 percent of the total gross revenue. Recurring income obtained from the investment property segment contributed Rp202.2 billion or 28.4 percent of the total gross revenue.
The company projects that the property market in 2024 will gradually improve amid various challenges. The high demand for properties, particularly residential products, remains a potential niche for sector growth.
Taking into account market conditions and niches, the company is preparing several significant measures to enhance sales performance, including the launch of the “Intiland Sunshine Fair” marketing promotion program. This sales promotion program offers a variety of property needs to the public, such as landed houses, apartments, SOHOs, retail spaces, warehouses, and office units.
“This year, we will focus on efforts to increase sales, especially for stock units and inventories in each project. Launching new projects remains one of the growth strategy options, as long as they are executed carefully and consider market absorption,” said Archied.
The marketing campaign program, held from May to June 2024, offers various attractive deals for consumers. The launch of this program also aims to encourage people to take advantage of the Government-Borne Value Added Tax (PPN DTP) incentive program.