Tuesday, March 15, 2016

Sinarmas Land

Sinarmas Land ($0.485): RHB highlighted the Indonesian property developer as deeply undervalued and is poise to ride on the cyclical recovery of the Indonesian real estate market.
- Current market cap is only slightly above market value of stake in key subsidiary Bumi Serpong Damai
- Other assets including industrial estate Kota Deltamas, and recently acquired London office properties comes for free
- RHB maintains Buy with TP of $0.95 (96% upside)

No comments:

Post a Comment