Tuesday, January 26, 2010

Bumi Serpong will issues global bonds

PT Bumi Serpong Damai Tbk has plans issues global bonds to support investment plan. The company aims to tap some IDR1.5 trillion revenue or rose 16.28 percent from last year IDR1.29 trillion.
To meet the target, the subsidiary firm of Sinar Mas Group allocated the IDR1 trillion capital expenditure from internal cash.
The company will boost up middle upper class property business in addition to the lower middle market as the major focus so far. The flexibility of foreign possession of property has become one of the prospects of the sector.
Residential housing has thus far contributed more than half of the consolidated BSD revenues by 53 percent and the other 47 percent was contributed by commercial and industry sector. Last year, residential contributed IDR675 billion revenues or rose 42 percent from the 2008 contribution wroth IDR477 billion.

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