The modest growth and relatively stable economy and the peaceful election in 2004 are fundamental indicators to regain foreign investors' confidence to invest in Indonesia. However, such positive indicators were not enough to influence back foreign direct investments into the country as most of them are still in waiting mode.

In spite of year 2004 being full of challenges, the Company achieved a satisfactory financial performance. Revenues increased by 8% to Rp 347 billion as compared to Rp 322 billion in 2003. Sales in the commercial and residential sectors and infrastructure services were the major contributors to 2004 revenue. Such performance proves the success of Company's strategy of establishing a matured industrial estate that creates the critical mass to support related businesses.

In the effort to position the Company for a better performance in 2005, the Company increased the advertising and promotional activities, developed and launched new products, conducted comprehensive training and development programs for all levels of our human resources.