Lippo Karawaci 1Q14 pre-sales reached IDR901bn - Daily Pack 25 April 2014

Lippo Karawaci 1Q14 pre-sales reached IDR901bn. The pre-sales formed 13% of Lippo Karawaci (Lippo)’s FY14 target of IDR6.8trn (excluding an asset sold to REIT). They mostly came from two new launched projects: i) St Moritz Makassar & ii) Embarcadero Suites, South Jakarta, where they recorded a combined sales value of IDR575bn. Lippo targets IDR1.45trn pre-sales from its new FY14F projects. It is confident of achieving its FY14 pre-sales target as more aggressive launches are expected in 2H14. Further, Due to a high mortgage rate, which is currently fixed at around 9.9% for two years with a high indicative floating rate, a lot of property buyers are now shifting to use in-house installment. St Moritz Makassar saw 76% of its buyers using in-house installment while mortgage buyers only constitute 1%. Meanwhille, 69% of Embarcadero Suites’ buyers take advantage of the in-house installment, while mortgage buyers account for just 18%. (Lydia Suwandi)

FROM TRADING DESK: JCI today is expected to be traded at 4,919.64 and 4,869.93

MEDIA HIGHLIGHTS:

Indofood CBP is entering diapers business

Astra Graphia targets IDR2.5trn revenue

Modern International to spend USD645m to 2,500 7-Eleven stores

Elnusa 1Q14 net profit jumped despite revenue decline

SSIA is seeking IDR1.1trn loan

Strong Investment Realization in 1Q2014

Revised negative investment list to be issued within this week

Best regards,

RHB OSK Indonesia Research Institute