SSIA Ind Est (IFC-38964)

Countries
  • Indonesia
Geographic location where the impacts of the investment may be experienced.
Specific Location
Cikopo-Palimanan Toll Road, Jakarta
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
May 29, 2018
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
PT. SURYA SEMESTA INTERNUSA TBK.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 57.15 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 57.15 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 262.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 9, 2019

Disclosed by Bank Apr 27, 2018

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The project is a loan to PT Surya Semesta Internusa to fund the Phase I development of the new Subang Industrial Estate (SIE) in Subang, West Java, The whole SIE development may be expanded to up to 2,000 hectares through future phases that are not part of this IFC investment.

SIE Phase I includes the following stages: (i) land acquisition on willing buyer-willing seller basis; (ii) land clearance and site preparation; (ii) design and construction of supporting infrastructure including waste water treatment facilities, internal road networks and basic utilities connections (sewage, electricity, etc); (iv) sell or lease pre-designated plots of land to commercial customers, which are expected to be light to medium industry (e.g. manufacturing) by internationally and local recognized firms; and (v) construction of a few SCS buildings, including residential blocks.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

SSIA has been listed on the Indonesia Stock Exchange since 1997. Approximately 69% of the shares of SSIA are held by public. The control of SSIA is under PT. Arman Investment Utama, which holds around 8% of the shares.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - PT Surya Semesta Internusa (SSIA) Parent Company -
- - - - PT Suryacipta Swadaya Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Project Contact: Wilson Effendy
Director of Business Development, PT. Surya Semesta Internusa Tbk.
Telephone No.: +62 21 526 2121
Email Address: ir@suryainternusa.com
Office Address: Tempo Scan Tower, 20th Floor JL. H.R. Rasuna Said Kav. 3-4 Kuningan, Jakarta 12950, Indonesia
Website: www.suryainternusa.com

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

How it works

How it works