The strict PSBB (Large-Scale Social Restrictions) period in 2Q20 caused PWON’s revenue to fall to IDR324 billion (-82.2% YoY). Meanwhile, profit was booked at IDR416 billion (-35.5% YoY). On the other hand, PWON has achieved marketing sales of IDR501 billion or 47% of the 2020 target. We are optimistic that PWON will be able to fully achieve its marketing sales target by the end of the year. Plus, until the first semester, the average occupancy rate of PWON’s malls is still above 90%.
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