The year 2020 was not only a surprising but also a challenging year for most of us.
COVID-19 global outbreak had strongly impacted various business sectors; and what most of us did was to adapt to enter to a survival state.

RBA had mostly undergone to a state of alert during the most of 2020 and we have been able to professionally manage our operating units in order to get through the year.

Our property and resort sector did more than what we had expected despite the outbreak. Based on our internal research and study, there was a solid increase to local travels for the vast majority of the customers. In addition our FnB sector within the resort business have the outdoor environments, this makes customers more comfortable in dining out within our outlets.

The near long-term view is highly uncertain, especially with the unknown side effects, if any, from the vaccines. And although vaccines is planned to be distributed nationwide, businesses will not come back instantly and we must acknowledge and act based on this fact to implement to our business strategy.

We do believe 2021 will have a brighter future due to a global distribution of the COVID-19 vaccines. Global economy is predicted to expand as big as 4% this year. The impact of this pandemic seems to be less severe than what the world has expected, and we can see this in a robust economic comeback in China.
Indonesia had negative inflation to close to 2% last year, and Bank of Indonesia had predicted for local inflation to be between 2 to 4%.

With this light of hope, we will continue to strive for the best result and manage our portfolio.

May we all have a safe and prosperous journey in 2021...and God bless us all.

Centennial Tower. 30th fl, unit G
Jl. Gatot Subroto kav 24-25.
Jakarta Selatan 12950, Indonesia

Tel. +6221 22958011
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