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KONTAN.CO.ID - JAKARTA. PT Intra Golflink Resorts Tbk (GOLF) officially listed on the Indonesia Stock Exchange (IDX) today (8/7).
In this event, GOLF offered 1.95 million shares. This amount is equivalent to 10.01% of the total placed and fully paid-up capital after the IPO at a price of Rp 200 per share.
Thus, the total fresh funds obtained amounted to Rp 390 billion. After deducting emission costs, the company will use the majority of the IPO funds for expansion.
Specifically, 87.53% will be allocated to its subsidiary, PT New Kuta Golf and Ocean View (NKG), which will build a 6-star hotel 'Luxury Boutique Hotel' at Hole 15-Th Cliff Hanger and 'New Kuta Golf Villa' in the Pecatu Indah Resort area, Jimbaran Bali.
NKG will also acquire 11,332 square meters of land located right in front of the hotel to build various supporting facilities.
Furthermore, around 5.34% will be used for capital injections for another subsidiary, PT Sentul Golf Utama (SGU). The remaining 7.13% will be used to finance the company's operational expenditures (opex).
Intra Golflink Resorts President Director Dwi Febri Astuti said GOLF is targeting EBITDA growth of 20% by the end of 2024.
GOLF's performance is expected to continue improving with the high interest of tourists in playing golf and the completion of these ongoing projects.
“We hope that the development of sports and entertainment ecosystem facilities around the golf area can boost GOLF's recurring income, so the company's profit can continue to grow positively,” she said after the IPO, Monday (8/7).
As an illustration, throughout 2023, GOLF's revenue increased by 59% from Rp 111.63 billion to Rp 177.58 billion. This caused the company's net profit to soar by 136% year on year (yoy) last year to Rp 60.18 billion.
Febri stated that GOLF has allocated a capital expenditure (capex) budget of Rp 550 billion for the construction of New Kuta Golf Villa in Bali.
“We are taking Rp 225 billion from the IPO funds,” she revealed.
Intra Golflink Resorts Commissioner Darma Mangkuluhur Hutomo said GOLF will create a golf tourism destination by providing a 6-star hotel, the Luxury Boutique Hotel, in Bali. In addition, GOLF's business will implement AI (artificial intelligence) and AR (augmented reality).
“We are investing in AI and integrating augmented reality. We have to start looking at technology (in the golf world) and implementing it. We will transform this traditional golf game with new technology implementations,” he said on the same occasion.
GOLF also plans to create new jobs in Indonesia through the golf tourism business. This is so that the golf business in Indonesia can compete with foreign countries.
“Currently, we are still focusing on developing the business in Indonesia. Later, if possible, we will expand abroad,” he explained.
Currently, NKG owns 85 hectares (Ha) of land and SGU owns 95 Ha. Additionally, through its 48.07% shareholding in PT Belitung Golf and Resorts (BGR), GOLF also manages Black Rocks Hotel & Golf Club in Belitung, which has a land area of 73 Ha.
Source: kontan.co.id
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Update Saham
