JAKARTA - PT New Kuta Golf and Ocean View (NKG), a subsidiary of PT Intra Golflink Resorts Tbk (GOLF), has obtained a facility worth IDR 500 billion from PT Bank Nationanobu Tbk (NOBU) to fund 6-star hotel establishment in Bali.

Darma Mangkuluhur Hutomo, President Commissioner of GOLF, mentioned that IDR 450 billion of said facility will be used to build a luxury boutique hotel, renovate golf course, as well as build driving range area and other facilities.

“The remaining IDR 50 billion will be used as working capital and fund the operation, as well as golf course maintenance,” Hutomo said in the press release quoted Friday (1/11).

According to Hutomo, the facilities and infrastructures that will be build are expected to promote the golf course as the primary destination for golfers, both local and international visitors.

GOLF and NOBU reportedly signed the facility agreement on September 25. NGK is said to begin the initial phase of luxury boutique hotel construction at Hole 15 Th Cliff Hanger and New Kuta Golf Villa, as well as a luxury residential housing area at the golf course in Pecatu Indah Resort, Jimbaran, Bali.

Dwi Febri Astuti, President Director of GOLF, mentioned that sport and entertainment facility development in the golf course area of NKG is projected to boost future revenue of the company.

As of Q3 2024, GOLF managed to book revenue of IDR 99.47 billion, consisting of golf business line of IDR 71.84 billion (72% of total revenue), followed by restaurant business line of IDR 18.77 billion, and others of IDR 8.66 billion. GOLF reported net profit of IDR 15.39 billion as of September 2024. (LK/ZH)