JAKARTA - PT Integra Indocabinet Tbk (WOOD) partners with PT Ciputra Development Tbk (CTRA) to work on green housing project on its landbank located in Lingkar Timur Wedoro Klurak, Sidoarjo, East Java. The landbank utilisation is projected to bring a new revenue stream for WOOD aside from its existing business line in processed wood manufacture.

Wang Sutrisno, Director of WOOD, confirmed that this project will be a joint operation with CTRA.

“This housing project will fill in the vacancy in the middle-class market, which usually pursues modern housing concept with relatively affordable pricing,” Sutrisno explained, as quoted today (9/12).

CTRA will work on this eco-sustainable and modern housing project through its subsidiary, PT Ciputra Cipta Cemerlang (CCC). The joint operation contract for this project was signed last Friday (6/12).

According to Sutrisno, the company aims to leverage the potential of increased revenue and profit by developing its landbank in Sidoarjo.

For the record, WOOD posted revenue of IDR 2.13 trillion from both the export and domestic market in the segments of building component manufacture, set up, and knock-down. It is known that there were two companies bringing in over 10% of its revenue, namely Starbright Forever Llc and Novo. (LK/ZH)