"
JAKARTA, KOMPAS — PT Intra Golflink Resorts Tbk officially listed its shares on the Indonesia Stock Exchange on Monday (8/7/2024) under the ticker code GOLF. This tourism and sports sector company raised funds on the stock exchange in line with the increasingly promising golf sport. GOLF became the 30th company to list its shares on the exchange this year.
GOLF issued new shares through an initial public offering (IPO) of 1,950,000,000 units. This amount is equivalent to 10.01 percent of the total placed and fully paid-up capital at a price of Rp 200 per share. The total fresh funds obtained by the company reached Rp 390 billion.
“After the IPO, we will aggressively expand the infrastructure and ecosystem development in the golf tourism sector. Hopefully, GOLF can become a pioneer and a top golf tourism destination for both local and foreign tourists,” said Intra Golflink Resorts Commissioner Darma Mangkuluhur Hutomo at the launch event at the Indonesia Stock Exchange (IDX), Jakarta, on Monday.
The company will use the majority of the IPO funds for expansion. Specifically, 87.53 percent 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.
YOSEPHA DEBRINA RATIH PUSPARISA
Indonesian Masters 2019 winner, Jazz Janewattananond, hits a golf ball on Course 1, Royale Jakarta Golf Club, Jakarta, Friday (2/12/2022). The Thai player improved his performance by scoring 65 strokes in the second round, compared to 71 strokes in the first round of the Indonesian Masters 2022.
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 percent will be used for capital injections for another subsidiary, PT Sentul Golf Utama (SGU), and the remaining 7.13 percent to finance the company's operations.
NKG currently owns 85 hectares of land, and SGU owns 95 hectares. Additionally, through its 48.07 percent shareholding in PT Belitung Golf and Resorts (BGR), GOLF also manages the Black Rocks Hotel & Golf Club in Belitung, which has a land area of 73 hectares.
The revenue increase also reflects the rising trend of golf sports, which is expected to continue to grow with high interest from tourists to play golf.
The company, owned by the grandson of Indonesia’s 2nd President Soeharto, has already begun the initial construction for the Luxury Boutique Hotel and New Kuta Golf Villa projects in Bali. The investment required for the development of these two projects is estimated to reach Rp 586 billion and is expected to be completed by 2026.
Intra Golflink Resorts President Director Dwi Febri Astuti projects that GOLF's performance will continue to improve along with the completion of these ongoing projects. “We hope the development of sports and entertainment ecosystem facilities around the golf area can boost GOLF's recurring income so that the company's profit can continue to grow positively,” he said.
Throughout 2023, GOLF's revenue increased significantly, reaching 59 percent, from Rp 111.63 billion in 2022 to Rp 177.58 billion. This caused the company's net profit to soar by 136 percent year-on-year to Rp 60.18 billion in 2023. The revenue increase also reflects the rising trend of golf sports, which is expected to continue to grow with high interest from tourists to play golf.
PT INTRA GOLFLINK RESORTS TBK
Graph of Golf Course Trends in PT Intra Golflink Resorts Tbk (GOLF) Prospectus.
PT Intra Golflink Resorts Tbk notes that in Indonesia, golf tourism growth has become one of the main focuses in tourism development. Golf courses in many areas, from Bali to Jakarta, are increasingly developing and attracting the interest of both domestic and international tourists.
Additionally, hotel and entertainment facilities around the golf courses are also developing to meet the needs of visitors, especially since Indonesia has natural beauty, a pleasant tropical climate, and active tourism promotion from the government and tourism industry players.
Currently, the country with the most golf courses in the world is the United States, with 16,156 courses.
For this reason, the company is building an ecosystem for golf tourism, especially in popular tourist locations like Bali. The golf courses being built will be integrated with other tourist attractions, such as international standard hotels, restaurants offering various types of cuisine, and other facilities such as spas, gyms, and swimming pools.
According to them, the golf industry will continue to grow along with the increasing number of players. From 2020-2023, there has been a 15 percent growth in players worldwide, with recorded players totaling 8 million, and unrecorded players for 9 and 18 holes amounting to 31.6 million players.
PONDOK INDAH OFFICIAL PHOTOGRAPH/ERLANGGA TRIBUANA
Thai golfer Itthipal Buranatanyarat hits the ball on the second day of the Mandiri Indonesia Open golf tournament, Friday (5/8/2022), at Pondok Indah Golf Course, Jakarta. Buranatanyarat leads the provisional standings after recording 131 strokes or 13 under par.
Asia leads in the total number of 9 and 18 hole golf players with 16.1 million players, followed by Europe with 14 million players. South Korea, Singapore, Hong Kong, and Japan are countries with the highest number of golf players for 9 and 18 holes internationally.
Currently, the country with the most golf courses in the world is the United States, with 16,156 courses. In Asia, Japan ranks 2nd with 3,140 golf courses. According to the Global Golf Participation Report R&A, in Southeast Asia, Indonesia only has 170 golf courses, fewer than Malaysia with 244 courses and Thailand with 319 courses.
IDX Director of Corporate Valuation I Gede Nyoman Yetna said that IDX welcomes the inclusion of companies like GOLF. Based on the latest data from the initial public offering process, IDX also has one other potential listed company in the lighthouse category in the pipeline from the recreation and sports facilities sector.
“IDX is optimistic that the number of listed companies in the lighthouse category can grow along with the increasing interest of companies in various sectors to utilize the capital market as a source of funding and cooperation for IPO preparation programs with associations, banks, and other prominent institutions in the form of road to IPO,” he told reporters some time ago.
Source: kompas.id
"
Update Saham
