PT XL Axiata Tbk (EXCL, Rp 6,000, BUY, TP Rp 6.900) to Realize IDR 1.31 trillion sale of treasury stock. EXCL will sell 231.11 million treasury shares (2.7% of the total shares owned by the company) worth IDR 1.31 trillion, with an average price per share Rp 5.708. The gain is estimated at around IDR 98 billion and will be used for business expansion. (Kontan)
PT Alam Sutera Realty Tbk (ASRI, 500, NEUTRAL, TP Rp 680) to focus on completion of two office building projects. ASRI said it will focus on the completion of two office projects (The Tower and The Prominence) and will not start a new project until the end of this year. Another project that has been running by ASRI is Silk Victorian cluster, Superblock City of Ayodhya, and Garuda Wisnu Kencana. (Kontan)
Ciputra to work on projects valued at IDR 4.2 trillion offices. PT Ciputra Property Tbk (CTRP, Rp 745) works on four office projects worth 4.2 trillion starting 2014 and will be completed within 3 years. All four are in South Jakarta, West Jakarta and Central Jakarta. The area of the project is expected to reach 410,000 square meters. (Investor Daily)
PT Waskita Karya Tbk (WSKT, Rp 910, NEUTRAL, TP Rp 600) set aside 3 trillion to work on the highway Legundi-Bunder in East Java who entered the bidding process. Through its subsidiary, PT Waskita Toll Road, WSKT already established a joint venture called PT Waskita Earth Legundi. (Investor Daily)
for Indonesia Market Summaries 2 September 2014
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