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Dec 16, 2016 11:52:33

SMRA: Marketing sales target cut by 14%

Summarecon Agung ($SMRA) cuts marketing sales target from IDR3.5tn to IDR3.0tn on the back of lower than expected ytd sales, reaching only IDR2.4tn in October. SMRA’s Chief Financial Officer, Michael Young, stated that the lagging property sales were due to the Nov 4 and Dec 2 rallies in Jakarta, causing consumers to hold off their money on liquid assets. (Tempo)

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