28 November 2023 – The leading oil and gas company, PT Rukun Raharja, Tbk (stock code: RAJA) has participated in a series of Public Expose (“Pubex”) Live 2023 activities in commemoration of the 46th anniversary of the reactivation of the Indonesian Capital Market organized by the Indonesian Stock Exchange (“ BEI”) on Monday afternoon (28/11). The presentation was held virtually with the main topic being the 3-2023 Quarter Semester Performance delivered by the Company's Directors. As a public company and listed on the IDX, the Company always conveys the latest performance information transparently to the public. By carrying out this Pubex Live obligation, the Company has also fulfilled its obligation to carry out an Annual Public Expose. This event was also attended by the Company's Board of Directors, namely Djauhar Maulidi, Oka Lesmana, Sumantri and Ogi Rulino.
Oka Lesmana as the Company's Finance Director conveyed several highlights of the Company's performance up to the 3rd quarter of 2023. The Company posted a net profit of USD 12.6 million, significantly greater than the same period in the previous year, namely USD 5.6 million, or an increase of around 123% year on year. on year (yoy). The Company's net income increased by 26%, where in the same period in the previous year the Company posted net income of USD87 million, while this year the Company's net income was USD110 million. There are several factors that influence this increase, including the increase in gas sales from both piped gas and CNG, especially with the addition of new customers on the island of Sumatra. Apart from that, the increase in contribution from the gas infrastructure sector also provided quite a good contribution, especially from toll fees on the Company's gas pipes and crude oil pipes.
The Company's actual capital expenditure (Capex) as of the third quarter has reached USD41 million, or equivalent to 82% of the total +/- USD50 million budgeted for capital expenditure purposes in 2023. This prepared Capex has been used to develop the Company's business this year. Until the third quarter, the Company focused on developing the business that the Company is currently running. "The projects that will be underway in 2023 are the construction of a mother station (CNG) in Grobogan, Central Java, the PT IKPP gas pipeline construction project in Riau, the oil block exploration project in the Sumatra region and the purchase of oil block participation rights in the Sumatra region." said Mr. Sumantri Suwarno, Director of Business Development of the Company.
Before closing this public exposure session, Mr. Djauhar Maulidi as President Director conveyed several of the Company's strategies and initiatives, including accelerating expansive business development and optimizing investment returns to provide added value to shareholders. Apart from that, the Company's long-term vision was also conveyed where the Company is preparing business development and business diversification which will later aim to create higher added value for the company by entering the petrochemical and new renewable energy business lines, which are not only beneficial for the environment, but also profitable economically. financial for shareholders. In the current highly competitive investment climate, the Company continues to improve its competence in every business field owned by the Company, therefore the Company invites investors to provide full support to the Company by continuing to entrust their investments to be managed by the Company.
