Post by odie on May 6, 2014 20:55:52 GMT 7
source: shareinvestor
Company Background
Sinarmas Land Limited listed on the Singapore Exchange and headquartered in Singapore, is engaged in the property business through its operations in Indonesia, China, Malaysia and Singapore.
The Group's principal activities and core business comprises the development and construction of commecial, residential and industrial properties, townships, hotels and resorts and the long-term investments in major commercial buildings, hotels and resorts, as well as property sales, leasing and management of its real estate development with Indonesia as the major market for the Group's business.
The Company was formerly known as AFP Properties Limited. The Company changed to its current name on 28 April 2011 and is trading under its current name, effective 4 May 2011.
source: reuters
Sinarmas Land Limited is a Singapore-based investment holding company. The Company and its subsidiaries are engaged in property business, through its investments in Indonesia, China, Malaysia and Singapore. The Company operates in two segments: Indonesia Property and Other Property. Indonesia Property is engaged in investment and development of commercial, industrial and residential properties and ownership and management of hotels and resorts in Indonesia. Other Property is engaged in investment and development of commercial and residential properties and ownership and management of hotels and resorts in Malaysia and selected mixed development in China. In January 2014, the Company established PT Duta Usaha Sentosa (DUS), PT Bumi Megah Graha Asri (BMGA) and PT Putra Tirta Wisata (PTW). In January 2014, Sinarmas Land Limited's PT Bumi Serpong Damai Tbk (BSD) established PT Transbsd Balaraja (TSB) and PT Duta Mitra Mas (DMM).
Sinarmas unit Bumi Serpong to enter Indonesian toll road business
source: reuters
JAKARTA Mon Jan 27, 2014 2:04am EST
Jan 27 (Reuters) - Indonesian property developer PT Bumi Serpong Damai, a unit of Singapore-listed Sinarmas Land Ltd, has set up a joint venture to build toll roads which could boost the prices of its surrounding projects.
The company aims to work with Kompas Gramedia Group and PT Astratel Nusantara to develop the 36-kilometre Serpong-Balaraja toll road on the outskirts of Jakarta, Bumi Serpong Director Hermawan Wijaya told reporters on Monday.
"We want to go into the toll-road business because this will benefit our property projects," Wijaya said. He declined to disclose the expected investment value for the toll road project, but it has been estimated to cost around 5 trillion rupiah ($410.5 million).
The winning bidder for the concession to the Serpong-Balaraja toll road has not been announced, but Bumi Serpong, which initiated the project, stands a high chance as it has the right to match a competing offer, Samuel Sekuritas said in a note on Monday.
The brokerage added that the new toll road is expected to increase the value of Bumi Serpong's BSD City, a residential, office and commercial project in the south-west of Jakarta.
($1 = 12,180.00 rupiah) (Reporting by Fathiyah Dahrul; Writing by Eveline Danubrata Editing by Matt Driskill)
Company Background
Sinarmas Land Limited listed on the Singapore Exchange and headquartered in Singapore, is engaged in the property business through its operations in Indonesia, China, Malaysia and Singapore.
The Group's principal activities and core business comprises the development and construction of commecial, residential and industrial properties, townships, hotels and resorts and the long-term investments in major commercial buildings, hotels and resorts, as well as property sales, leasing and management of its real estate development with Indonesia as the major market for the Group's business.
The Company was formerly known as AFP Properties Limited. The Company changed to its current name on 28 April 2011 and is trading under its current name, effective 4 May 2011.
source: reuters
Sinarmas Land Limited is a Singapore-based investment holding company. The Company and its subsidiaries are engaged in property business, through its investments in Indonesia, China, Malaysia and Singapore. The Company operates in two segments: Indonesia Property and Other Property. Indonesia Property is engaged in investment and development of commercial, industrial and residential properties and ownership and management of hotels and resorts in Indonesia. Other Property is engaged in investment and development of commercial and residential properties and ownership and management of hotels and resorts in Malaysia and selected mixed development in China. In January 2014, the Company established PT Duta Usaha Sentosa (DUS), PT Bumi Megah Graha Asri (BMGA) and PT Putra Tirta Wisata (PTW). In January 2014, Sinarmas Land Limited's PT Bumi Serpong Damai Tbk (BSD) established PT Transbsd Balaraja (TSB) and PT Duta Mitra Mas (DMM).
Sinarmas unit Bumi Serpong to enter Indonesian toll road business
source: reuters
JAKARTA Mon Jan 27, 2014 2:04am EST
Jan 27 (Reuters) - Indonesian property developer PT Bumi Serpong Damai, a unit of Singapore-listed Sinarmas Land Ltd, has set up a joint venture to build toll roads which could boost the prices of its surrounding projects.
The company aims to work with Kompas Gramedia Group and PT Astratel Nusantara to develop the 36-kilometre Serpong-Balaraja toll road on the outskirts of Jakarta, Bumi Serpong Director Hermawan Wijaya told reporters on Monday.
"We want to go into the toll-road business because this will benefit our property projects," Wijaya said. He declined to disclose the expected investment value for the toll road project, but it has been estimated to cost around 5 trillion rupiah ($410.5 million).
The winning bidder for the concession to the Serpong-Balaraja toll road has not been announced, but Bumi Serpong, which initiated the project, stands a high chance as it has the right to match a competing offer, Samuel Sekuritas said in a note on Monday.
The brokerage added that the new toll road is expected to increase the value of Bumi Serpong's BSD City, a residential, office and commercial project in the south-west of Jakarta.
($1 = 12,180.00 rupiah) (Reporting by Fathiyah Dahrul; Writing by Eveline Danubrata Editing by Matt Driskill)