PT Modernland Realty Tbk (MDLN, Rp510, NEUTRAL, TP Rp510) to revise marketing sales target to IDR 3.8 trillion. MDLN decided to revise the target company's marketing sales in 2014 to IDR 3.8 trillion from IDR 4 trillion since the launch of the bari project in the first semester of 2014 is lower than the target.
Pre-sales for 7M14 reached IDR 1.88 trillion (49.5% of the target). The company is optimistic to achieve the new targets by launching two new housing clusters in Jakarta Garden City in the second semester of 2014 and the contribution of Cikande Modern Industrial Estate. (Bisnis Indonesia)
PT Kresna Graha Sekurindo Tbk (KREN, Rp 405) intends to rights issue worth IDR 2 trillion. The step is a part of restructuring of the company into a group holding company, and will acquire Affiliate company in the insurance sector and the property. (Kontan)
Astra Group targeting Mulut Tambang power plant project worth USD 900 million in South Sumatra through tenders. Tender was followed by the Astra Group through PT United Tractors Tbk (UNTR, Rp 21.475, NEUTRAL, TP Rp 23.000) subsidiary', PT Pamapersada Nusantara (PAMA). (Investor Daily)
Division of Flour, PT Indofood Sukses Makmur Tbk (INDF, Rp 7.050, BUY, TP Rp 8.200) is targeted to achieve Bogasari revenue IDR 19.6 trillion this year, up 5% from last year. The target was supported by an increase in demand for capacity on the market, but there is no expansion this year. (Bisnis Indonesia)
for Indonesia Market Summaries 5 September 2014
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