BANDUNG – Sugianto Kusuma, commonly known as Aguan, has been awarded The Best CEO with Special Mention: The Most Outstanding Township Development at the Top CEO Indonesia Awards 2024 in Bandung on Friday, November 14. The recognition, granted by Tempo-IDNFinancials, highlights Kusuma's leadership in developing the Pantai Indah Kapuk (PIK) 2 area through PT Pandai Indah Kapuk Dua Tbk (PANI).

In March, PIK 2's Green Area and Eco City development will be erected on a land spanning 1,756 hectares. This sustainable tourism development is reportedly valued at IDR 65 trillion.

In addition to the area development, PANI is also building supporting infrastructure, such as the Kamal-Teluknaga-Rajeg Toll Road, which began construction in 2023 and is expected to be completed by 2026. According to IDNFinancials data, PANI's management targets launching 8 new residential projects and 6 commercial projects by the end of the year to support its pre-sale targets. 

On the operational front, PANI has expanded its landbank to 1,850 hectares, following a private placement totaling IDR 6.5 trillion in August. This move has significantly boosted PANI's assets, which reached IDR 44.2 trillion by September 2024, with equity surging to IDR 26.2 trillion.

By September (9M) 2024, PANI reported a net profit increase of 91% year-on-year (yoy), reaching IDR 487 billion. With pre-sales amounting to IDR 4.7 trillion, the company reported revenues of IDR 2.1 trillion. PANI has already achieved 78% of its pre-sale target for 2024, prompting management to revise the target upward to IDR 6 trillion from the original IDR 5.5 trillion.

As a new constituent in the Indeks52 by Tempo-IDNFinancials this year, this marks the first time Kusuma and PANI have received an award at the Top CEO Indonesia Awards. This event follows the inaugural Top CEO Indonesia 2023 in Bali in December 2023. (ZH)