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Foxconn Project: Agung Sedayu vs Modernland
Foxconn Technology Group has planned to invest US$5 billion in Indonesia to produce components of iPad and iPhone. Government officers initially said Foxconn will build the factories in industrial estate developed by Modernland, unit of Modern Group. But, this morning, minister of industry affairs MS Hidayat said Foxconn will build in the area prepared by Agung Sedayu Group. ,Last Updated ( Fri, 24 May 2013)
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| Boom in Hotel Investments
Hotels business is not as profitable as gold, oil-gas, cement or food & beverage. However, a number of world-class hotel managements will expand their businesses further in the country this year onwards, including Best Western and Hilton – two of the largest hotel chain companies in the world. (Mon, 20 May 2013)
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| Argo Manunggal: Squeezing ASRI Too Much Too Soon
Alam Sutera Realty (ASRI) is now valued higher (Rp21.2 trillion) than Summarecon Agung, about the same with Ciputra Development, more than twice of Agung Podomoro Land. Bekasi Fajar Industrial Estate (BEST) is just inches below Agung Podomoro. Combined market cap of ASRI and BEST is Rp30 trillion. Argo Manunggal Group decides to seize the opportunity to squeeze more from creditors... (Sat, 18 May 2013)
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| • Laguna Cipta Griya & Rights Issue | Property | Property developer PT Laguna Cipta Griya (LCGP) Tbk once planned to leave property business, moving to oil and gas industry. Looks like the oil and gas business plan didn't work well, so the company decided to become an integrated property developer with apartment, hotel, convention center, and office as main units. | |
| • BI Warning on Property Loans | Property | Perry Warjiyo, deputy governor of Bank Indonesia, issued a strong statement Wednesday (May 15) regarding growth of loans in the property sector, which is considered ‘too high’. Perry said home ownership and apartment ownership loans continue to grow substantially, not only in Jakarta, but other cities. | |
| • Sinarmas Acquires London Property | Property | Benefited from property boom in Indonesia, two giants in the sector---Lippo Group and Sinarmas Group---have launched major acquisition overseas. Lippo Group acquired historic office building in Los Angeles, USA, while Sinarmas Land Ltd acquired a property in London, UK. | |
| • Mixed Start for Property Sector | Property | Bumi Serpong Damai (BSDE), the second largest property company by market capitalization, booked net profit of Rp1.24 trillion in the first quarter of 2013, skyrocketed 369% from the corresponding period of 2012. Agung Podomoro Land (APLN), meanwhile, reported 10% growth only. How about others? | |
| • Pan Pacific Hotel & New Indonesian Partners | Property | Pan Pacific Hotel Group is one of the major hotel chains in Asia and is operating two five-star hotels in Jakarta and Bali. The Jakarta hotel is a self-operated hotel, while the Bali-unit is partnering with Bakrie Group. The company recently formed similar partnership with other groups for the development of two new hotels in Bogor, West Java and Pecatu, Bali. | |
| • Rajawali Corp & Property Boom | Property | Rajawali Corporation, controlled by Peter Sondakh, is one of the largest property companies in Indonesia. The group, however, is pretty much focused on hotel and resorts development. The group owns hotels and resorts in Australia, Indonesia, Malaysia, etc. | |
| • Alam Sutera & Modernland Deal (2) | Property | Alam Sutera (ASRI) and Moderland Realty (MDLN) are among top gainers in the property sector in the past two years. They both generated most of revenues from selling land, not buildings. Alam Sutera has issued US$235 million global bonds to, among others, finance acquisition of land from Modernland. Modernland, meanwhile, is on its way to issue US$150 million bonds to finance acquisition of land, which later on will be delivered to Alam Sutera. | |
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