Aug 16, 2010

Bakrieland eyes Rp1.5 trio revenue

Property developer PT Bakrieland Development Tbk (ELTY) has set a 40% increase in its revenue target to Rp1.5 trillion this year.
"We hope that Bakrieland could achieve Rp1.5 trillion revenue this year," said Bakrieland President Director Hiramsyah Thaib.
Bakrieland has completed several delayed projects such as Epicentrum Walk Office Suites which transferred to buyers. "About 80% of the projects worth Rp240 billion had been sold," he said.
During rights issue worth Rp3.2 trillion, three foreign institutions Pictet Hongkong Capital, Swiss Chartered, and Savilla Fund have exercised their rights to buy Bakrieland's new shares. "Bakrie Group has exercised 16% of new shares issued via Bakrie Capital.
Disclosure: No position at the stock mentioned above.

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