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P H
Apr 05,2016 15:34:07
Property: New in the Hood

- We forecast a slow 1Q16 marketing sales, with most property companies only meeting 5-15% of their FY16F. Most property companies are still waiting for tax amnesty before launching a brand new project.

- Another strong launch from BSDE. BSDE has just introduced a new complex called The Mozia within the BSD area. They have launched a cluster called “Amarine” in the 27th of March, 2016. The Amarine cluster has a total of 207 units (37 land plots and 170 houses). Take up rate has been pretty good at 87%. Houses’ land size ranges 60sqm – 96sqm; while land plot size ranges 98sqm – 154sqm. The house pricing is Rp2-2.5bn. The land ASP is around Rp14.7mn/sqm; implying around Rp280bn of marketing sales.

- Weak take-up rate from JRPT. JRPT introduced a new Japanese smart living concept through its newly launched product called “Piazza”. The housing complex is designed by Osamu Nishida, a Japanese winning architect. Land size in “Piazza” is ranging from 60sqm to 97sqm, while selling price starts from Rp1.8bn to Rp2.7bn, with average land ASP at Rp22.5mn/sqm. Based on our channel check, only 15 units were sold during the launch (20% take up rate), with estimated marketing sales of around Rp30-40bn. We think take up rates are weak as the design does not suit Indonesian taste.

- Citra Raya Tangerang is aiming at the sweet spot. In the beginning, the company launched the Cluster Vernazza, however due to strong take up rates (3x oversubscribed), the company has launched the second cluster. Prices range is Rp450-600mn per unit. CTRA has earned more than Rp160 billion of sales from the launch of Vernazza and Bolzano in Citra Raya Tangerang.

- APLN is on-track, others are trying to catch-up. We forecast APLN to be on-track due to its Podomoro Golf View project. Most of the property companies are starting their first launch in April. MDLN will launch a low rise in JGC and SMRA also will launch another cluster in Bandung.

$BSDE $JRPT $CTRA $APLN
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P H
Mar 22,2016 15:30:48
Jaya Real Property ($JRPT) expects its marketing sales will grow by 5-10% YoY to Rp2.29tn-Rp2.39tn (US$176-253m) in 2016. JRPT also prepares higher capex of Rp1.5tn (+15% YoY) in 2016.
Bull
P H
May 11,2015 12:57:19
Indeks Harga Saham Gabungan (IHSG) menguat +0,1% (+3 poin) di level 5184,45 poin pada penutupan perdagangan sesi 1, Senin (11/5). Indeks LQ45 naik +0,15% ke posisi 900. Jakarta Islamic Index (JII) naik +0,27% ke posisi 699 poin. Indeks Kompas 100 naik +0,19% ke level 1.134 poin. IDX30 naik +0,15% ke level 466 poin. Pemodal asing membukukan transaksi net sell (jual bersih) -Rp37 miliar. Transaksi yang tercapai Rp2,136 triliun dengan volume trading sebanyak 5,755 miliar saham. Sektor: Agri +2,07% Mining +1,70% Properti -0,69% Infrastruktur +0,16% Finance +0,04% Trade -0,14% Manufaktur -0,17% Consumer -1,17% Basic ind -0,07% Misc-ind -0,25% Kini sektor agro dan mining menjadi penopang utama laju IHSG pada perdagangan sesi siang awal pekan ini. Saham agri ditunjang oleh naiknya AALI +3,07%. BWPT ++3,75%. DSNG +1,41%. GZCO +1,12%. SIMP +2,34%. SSMS +1,01%. Adapun saham-saham mining yang bergerak naik antara lain: ADRO +5,23%. ANTM +0,63%. ARTI +4,44%. HRUM +2,97%. INCO +1,24%. ITMG +5,51%. Kelompok saham properti bergerak negatif seiring terbitnya Revisi PMK No 90 /PMK.03/2015 tentang pengenaan pajak barang super mewah (PPh 22) untuk properti. Saham-saham properti yang melorot adalah: APLN -1,73%. BSDE -0,28%. CTRA -2,92%. JRPT -7,34%. LPCK -0,90% . LPKR -1,19%. Adapun sektor yang turun paling dalam adalah consumer -1,17%. Koreksi consumer dimotori saham: DVLA -1,11%. KAEF -0,84%. GGRM -0,16%. TSPC -1,67%. ULTJ -2,35%. UNVR -0,06%. Bursa Asia Sentimen kebijan Tiongkok yang memangkas suku bunga menjadi sentimen utama bagi market regional. Bank Sentral Tiongkok (People`s Bank of China (PBOC) menurunkan suku bunga kredit dan deposito bertenor 1 tahun sebesar 25 bps. Indeks Nikkei naik +1,27% (+245,32 poin) ke posisi 19.624,51 poin. Indeks Hang Seng naik +0,50% (+132,29 poin) ke level 27.714,63 poin Indeks Shanghai naik +1,18% (+49,62 poin) ke posisi 4.255,54 poin Indeks Straits Times +0,46% (+15,72 poin) ke level 3.467 poin (pukul 12.00 WIB).
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JRPT
830.00 10.00 (1.26%)
Jaya Real Property Tbk.
Last Update 22:53:00