Happy New Year everyone !!
Happy Cuan always :D
14:23 Tasrul Tanar: BSDE akumulasi beli
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11:13 IDX sudah all time high
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10:01 Property on the move.. LPCK 3325.. SSIA 1070.. BSDE 1130
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09:19 foreign net buy 102 Bio
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Bumi Serpong Damai ( BSDE.JK)
We are BULLISH TP Rp1.970
Pipeline launches in 4q12. In oct , the company has launched the Foresta Business loft and the Avani 4 which consist of 159 house units and comer landplots with a price range of RP 1.5-4 bn/unit with land area of 160-525sqm and bldg area of 111-300sqm.
Outperform with TP of Rp1.970. We maintain our positive view on BSDE as bullish on the middle housing segment. This positive trend due to the huge reserve of landbank in serpong (3.470ha).
Valuation is also attracrive with 59% disc to NAV
Ferry Wong,CFA
+62-21-5290-8579
ferry.wong@citi.com
Steve Wirawan
steve.wirawan@citi.com
