Tags: CTRP

CTRA’s subsidiary CTRP to book sales from Puri project

Sep 16, 2014 - Indo - 0 Comments - Standard

Long waited license for Puri project finally obtained The company reported that they have received the license for its Ciputra International project in Puri area, West Jakarta last week. This approval includes the license for 1 apartment tower and 1 office tower, which implies license for 2 out of 3 towers planned to be launched […]

The new toll road JORR W2 to increase the nearby land prices

Sep 09, 2014 - Indo - 0 Comments - Standard

The new toll road JORR W2 to increase the nearby land prices. According to IPW (Indonesia Property Watch) executive director, area around the toll road will become a target for developers. He predicted that West Jakarta area, especially Puri Indah, Kebon Jeruk, Permata Hijau will become Jakarta’s new golden triangle. He estimated that land prices […]

CTRA Aug14 pre-sales is encouraging

Sep 08, 2014 - Indo - 0 Comments - Standard

Ciputra Development (CTRA) booked YTD Aug-14 pre-sales of IDR4,807bn which makes up 70% of our forecast and 48% of the company’s target. Pre-sales in Aug was encouraging at IDR951bn driven by the sales of first apartment tower of Ciputra International in Puri area, West Jakarta. This is one of the long awaited project by Ciputra […]

CTRP lewat anak usaha PT Ciputra Puri Trisula menggaet Trisula Group dalam menggarap proyek Ciputra International di atas lahan 7,4HA yang terletak di Jalan Lingkar Luar Barat

Sep 05, 2014 - Indo - 0 Comments - Standard

PT Ciputra Property (CTRP) lewat anak usaha PT Ciputra Puri Trisula menggaet Trisula Group dalam menggarap proyek Ciputra International di atas lahan 7,4HA yang terletak di Jalan Lingkar Luar Barat. Proyek berupa mixed-use development terdiri dari 10 menara dengan 6 menara perkantoran, 3 apartemen dan 1 hotel berbintang 5.

CTRP: 2Q14 results: Improving, but still below expectations

Aug 04, 2014 - Indo - 0 Comments - Standard

§ 2Q14 bottom line +221.1% q-q and +61.6% y-y: CTRP booked 2Q14 net profit of IDR97bn (87% of our 2Q14 estimate), +221.1% q-q and +61.6% y-y, translating into 1H14 net profit of IDR127bn (-49.6% y-y). Despite better 2Q14 performance compared to 1Q14, CTRP’s 1H14 results still were below our (32%) and consensus (36%) estimates. § […]

Indonesia Property: Potential Structural Changes

Jul 21, 2014 - Indo - 0 Comments - Standard

If KPU announces Jokowi win on 22 July, what does it mean for property stocks? We think a Jokowi presidency would likely introduce long-term structural improvement for Indonesia’s property sector. This could present upside for property share prices due to potential valuation rerating. We are positive on 2H pre-sales outlook. We maintain our top pick […]

CTRP menghabiskan dana Rp225 miliar untuk investasi pengembangan lima hotel budget tahun 2014

Jul 17, 2014 - Indo - 0 Comments - Standard

Ciputra Property (CTRP) menghabiskan dana Rp225 miliar untuk investasi pengembangan lima hotel budget tahun 2014. Perseroan menyatakan, tahun ini akan ada setidaknya tiga hotel yang beroperasi. Nilai total masing-masing hotel tersebut sebesar Rp45 miliar per hotel. Selanjutnya, diluar lima hotel budget tersebut, perseroan juga sedang mempersiapkan pembangunan proyek serupa di Bengkulu dan Serpong. Untuk hotel […]

Ciputra Development’s improving pre-sales in May-14

Jun 11, 2014 - Indo - 0 Comments - Standard

Ciputra Development (CTRA) booked pre-sales of IDR1,030bn in May-14, bringing its YTD pre-sales to IDR2,893bn (29% of its FY2014F target). In previous months, the company on average booked pre-sales of IDR500bn per month. CTRA managed to book higher monthly pre-sales on the back of one new shophouse cluster launching in Citra Raya Tangerang amounting IDR360bn. […]

Ciputra Group announced its May 2014’s pre-sales performance after the market

Jun 11, 2014 - Indo - 0 Comments - Standard

CTRA, CTRS, CTRP – Ciputra Group announced its May 2014’s pre-sales performance after the market. CTRA booked encouraging pre-sales, while CTRP and CTRS booked weak pre-sales. CTRA strong pre-sales was driven by shop house and house products sales, which jumped 66% and 448% MoM. Mortgage financing portion increased to 39% in May 2014 from 36% in […]

Property: 1Q14 Marketing Sales Tally

Apr 25, 2014 - Indo - 0 Comments - Standard

· As expected 1Q14 marketing sales showed slowdown, where most company achieve 15-20% of their FY14 target. We see that developers with strong brand name managed to book in-line marketing sales. · 1Q14 extraordinaires. APLN and BSDE managed to book strong marketing sales in 1Q14. In APLN’s case strong sales coming from the newly launched […]

Marketing sales weak YoY (as expected) but improve QoQ

Apr 21, 2014 - Indo - 0 Comments - Standard

Marketing sales improve QoQ in 1Q14 Overall, 1Q14 marketing sales of companies under our coverage (ex-industrial estate) reached Rp7.4tr (-26% YoY, but +10% QoQ). This accounts for 19% of the companies’ guidance and 21% of our forecast for FY14. The YoY marketing sales decline was expected due to the impact of higher mortgage rate environment, […]

Indonesia Property: Mixed 1Q14 pre-sales

Apr 16, 2014 - Indo - 0 Comments - Standard

The 1Q14 pre-sales of four developers were relatively mixed. There were generally fewer project launches during the period than in the past. We sense many of the developers are delaying project launches to avoid disappointments or low take-up rates as interest rate remains high at 7.5% and mortgage availability was tight in the first two […]

CTRA 1Q2014 marketing sales 13.7% of FY14 target

Apr 14, 2014 - Indo - 0 Comments - Standard

Ciputra Development (CTRA) announced its 1Q14 marketing sales of IDR1,362bn which makes up 13.7% of its FY2014 target of IDR9,959bn. The Ciputra Surya (CTRS) contributed lower marketing sales in Mar14 of IDR77bn (vs. IDR150bn in Feb14) and Ciputra Property (CTRP) booked negative IDR45bn pre-sales as some units from the Raffles Apartment and CWJ1 Office pre-sales […]

CTRA: Top line disappointing

Apr 02, 2014 - Indo - 0 Comments - Standard

Ciputra Development (CTRA) booked net earnings of IDR977bn (+66% YoY) in FY2013 which is below our expectation and in-line with consensus estimates. The top line of IDR5,077bn (+53% YoY) in FY2013 fell short of our and consensus estimates. We think this is due from the weak revenue bookings contributed by Ciputra Property (CTRP) which mainly […]

CTRA: Still weak marketing sales in 2M14

Mar 21, 2014 - Indo - 0 Comments - Standard

„ Weak 2M14 marketing sales. For 2M14, CTRA recorded marketing sales of Rp1tn, out of expected 2M14 marketing sales target of Rp1.7tn. For 2M14, the company booked marketing sales of 10%. CTRS booked Rp272bn of marketing sales in 2M14, versus its 2M14 target of Rp308bn. CTRP only booked Rp86bn from its FY14F target of Rp1.7tn. […]

CTRA: February pre-sales remains soft

Mar 20, 2014 - Indo - 0 Comments - Standard

Ciputra Development (CTRA) booked YTD Feb14 pre-sales of IDR1,0.34bn which makes up 10.4% of its FY2014 target. Subsidiary Ciputra Surya (CTRS) continues to perform relatively well in the slowing property market with realized pre-sales of 83% of its monthly target while Ciputra Property (CTRP) booked the weakest sales realized pre-sales of only 26% to its […]

CTRA, CTRS & CTRP – announced February’s marketing sales

Mar 14, 2014 - Indo - 0 Comments - Standard

CTRA, CTRS & CTRP – announced February’s marketing sales. CTRA posted February marketing sales of Rp1tn (US$83mn), 10% of company’s FY14 target. CTRS and CTRP posted February’s marketing sales of Rp272bn (US$23mn) and Rp86bn (US$7mn), respectively, 12% and 5% of each FY14 target In-house financing still dominates funding source, but mortgage portion picking up.

Property: New in the Hood: February 2014

Mar 06, 2014 - Indo - 0 Comments - Standard

Penjualan properti sepanjang Februari lumayan baik, setelah emiten-emiten memperkenalkan produknya dengan harga rendah (kurang dari Rp2 miliar per unit). Beberapa peluncuran produk menunjukkan permintaan yang tinggi, yang sebagian besar mengalami kelebihan permintaan sebesar 1,5x-2x. Peluncuran selanjutnya pada Maret mengindikasikan perusahaan properti akan fokus pada produk yang harganya di bawah Rp2 miliar. Pada Februari, PT Summarecon […]

CTRP to start develop CWJ office 2 in July 2014

Feb 27, 2014 - Indo - 0 Comments - Standard

CTRP to start develop CWJ office 2 in July 2014. The company targets the project to be completed in 2017 with 80k sqm space, 20k sqm of which sells as strata-title. The project is still pending license.

CTRA: Aiming for 11% YoY marketing sales growth in FY14F to Rp10tr

Feb 21, 2014 - Indo - 0 Comments - Standard

· CTRA currently is aiming for 11% YoY growth of marketing sales for FY14F, from Rp8.9tr to Rp10tr. The company is targeting 11% marketing sales growth in FY14F on the back of new projects. Excluding CTRS and CTRP, CTRA is aiming for 17% YoY growth in marketing sales in FY14F. CTRP is expecting a steep […]

CTRA: Optimistic Pre-sales Target, But Not Reflected Yet in January Pre-sales

Feb 20, 2014 - Indo - 0 Comments - Standard

Company released 2014 pre-sales guidance of +11% yoy growth. The company expects Rp9.96trn of 2014 pre-sales, +11% yoy and 10% higher than Citi’s expectation. Compared to our expectations, the company expects 13% lower presales from CTRS, 36% higher from CTRP, and 15% higher from CTRA direct projects. We remain comfortable with our pre-sales expectation as […]

CTRA published its 2014F consolidated marketing sales of IDR9,959bn (11% YoY growth)

Feb 19, 2014 - Indo - 0 Comments - Standard

Ciputra Development (CTRA) published its 2014F consolidated marketing sales of IDR9,959bn (11% YoY growth). Several notable new projects which the company plans to launch this year include Mixed-use development in Kemayoran and Fatmawati, Jakarta which will be developed by Ciputra Development (CTRA). Another mixed-use development project to be launched this year is located in Puri, […]

Starting Feb 2014, the taxable value of property (NJOP) will be increased by between 120-240% depends on area in Jakarta

Feb 03, 2014 - Indo - 0 Comments - Standard

Starting Feb 2014, the taxable value of property (NJOP) will be increased by between 120-240% depends on area in Jakarta. Pasar Rebo in East Jakarta sees the lowest hike, while Jagakarsa in South Jakarta has the highest NJOP increase. City administration raised property tax because NJOP rate has not been adjusted since 2010 and to […]

CIPUTRA DEVELOPMENT: Expecting mortgage availability improvement

Jan 27, 2014 - Indo - 0 Comments - Standard

Ciputra Development We attended Ciputra Development’s analyst meeting. The company highlighted slowing property market demand and gave updates on its projects. Seeing slower property demand Despite having to achieve its revised marketing sales target in FY13, CTRA highlights slower property demand trend in the market. This is evidenced by marketing sales in CTRA and CTRS […]

Emiten Grup Ciputra menganggarkan belanja modal sebesar Rp 1,5 triliun pada 2014

Nov 26, 2013 - Indo - 0 Comments - Standard

Emiten Grup Ciputra yaitu Ciputra Development (CTRA), Ciputra Property (CTRP) dan Ciputra Surya (CTRS) menganggarkan belanja modal sebesar Rp 1,5 triliun pada 2014. Capex tersebut berkurang 25% dibandingkan tahun ini Rp 2 triliun. Pengurangan invesatasi tersebut menyusul kondisi ekonomi dalam negeri yang kurang kondusif serta perlambatan sektor properti. Grup Ciputra mengalokasikan capex untuk mengembangkan 30 […]

CTRP akan memperketat pembiayaan perseroan pada tahun depan dengan memperkecil porsi pinjaman bank

Nov 23, 2013 - Indo - 0 Comments - Standard

Citraland Property (CTRP) akan memperketat pembiayaan perseroan pada tahun depan dengan memperkecil porsi pinjaman bank. Perseroan menyatakan, pengurangan porsi pinjaman perbankan tersebut disebabkan peningkatan BI rate yang dapat membebankan perseroan. Untuk itu, perseroan menerapkan sumber pembiayaan yang berasal dari hasil penjualan dan sewa property dengan porsi 30:70. Strategi pendanaan campuran tersebut sudah diterapkan pada 2013 […]

CTRP akan memperketat pembiayaan perseroan pada tahun depan dengan memperkecil porsi pinjaman perbankan

Nov 22, 2013 - Indo - 0 Comments - Standard

Ciputra Property (CTRP) akan memperketat pembiayaan perseroan pada tahun depan dengan memperkecil porsi pinjaman perbankan. Pengurangan porsi pinjaman perbakan tersebut disebabkan peningkatakan BI rate yang dapat memberatkan perseroan. Untuk itu, perseroan akan menerapkan sumber pembiayan yang berasal dari dana hasil penjualan dan sewa properti dengan porsi 30:70

CTRP meluncurkan Office Tower 2 yang merupakan office tower terakhir di kawasan superblock Ciputra World 1 Jakarta

Nov 22, 2013 - Indo - 0 Comments - Standard

Ciputra Property (CTRP) meluncurkan Office Tower 2 yang merupakan office tower terakhir di kawasan superblock Ciputra World 1 Jakarta. Office Tower 2 memiliki 47 lantai dengan luas lantai sekitar 70.000 meter persegi dengan total investasi Rp 1,6 triliun dan ditargetkan selesai pada tahun 2018. Gedung perkantoran ini akan ditawarkan kepada masyarakat umum dengan komposisi 30% […]

CTRA announced 10M13 marketing sales result

Nov 15, 2013 - Indo - 0 Comments - Standard

CTRA – announced 10M13 marketing sales result. Details as follow: CTRA group 10M13 marketing sales: Rp7.8tn, +41% YoY, 86.7% of company’s FY target. CTRS 10M13 marketing sales: Rp2.975tn, +56% YoY, 88.7% of company’s FY target. CTRP 10M13 marketing sales: Rp 275bn, -77% YoY, 44.5% of company’s FY target

Lower CTRP sales drive lower CTRA earnings

Nov 14, 2013 - Indo - 0 Comments - Standard

Slower apartment sales drive lower marketing sales As part of CTRP’s recent downward revision on its FY13 marketing sales guidance from Rp1.76tr to Rp618bn, CTRA has also came up with lower FY13 marketing sales guidance of Rp9.1tr from Rp10.1tr, previously. The lower guidance is due to the slower than expected take-up rate in the company’s […]

CTRP menetapkan target kinerja 2013 yang lebih rendah yaitu menjadi Rp618 miliar dari target sebelumnya Rp1,7 triliun

Nov 11, 2013 - Indo - 0 Comments - Standard

PT Ciputra Property Tbk (CTRP), anak usaha dari PT Ciputra Development Tbk (CTRA), menetapkan target kinerja 2013 yang lebih rendah yaitu menjadi Rp618 miliar dari target sebelumnya Rp1,7 triliun. Untuk beberapa klien, penurunan sudah bukan kejutan lagi. Pendapatan prapenjualan (marketing sales) CTRP dibukukan Rp272 miliar sepanjang 9 bulan pertama 2013. Untuk kuartal IV/2013, target marketing […]

CTRP: Analyst meeting: Key takeaways

Nov 08, 2013 - Indo - 0 Comments - Standard

§ Major project delay due to rising costs: CTRP officially announced delay on the launch of “The Suites Apartment”, a luxurious-designed apartment from Ciputra World Jakarta (CWJ) 2, targeted to raise around IDR750b (USD66m) in 2H13. CTRP decided to push back sales by 1-2 years as ASP of around IDR40-42m/sqm does not provide the expected […]

CTRP: 3Q13 results: Below our and consensus estimates

Nov 04, 2013 - Indo - 0 Comments - Standard

§ 3Q13 earnings up 55% q-q and 123% y-y: CTRP posted 3Q13 net profit of IDR92b, up 55% q-q and 123% y-y, bringing 9M13 net profit to IDR344b, up 142% y-y. This improvement still marks less than our (58%) and consensus’ (58%) estimates. § Top line supported by recurring income: CTRP booked 3Q13 top line […]

Sektor properti saat ini membukukan kinerja yang beragam sepanjang 9 bulan pertama tahun ini

Oct 18, 2013 - Indo - 0 Comments - Standard

Sektor properti saat ini membukukan kinerja yang beragam sepanjang 9 bulan pertama tahun ini, yaitu 57%-93% dari target setahun penuh 2013. Dari seluruh emiten yang kami analisis secara fundamental, hanya PT Summarecon Agung Tbk (SMRA) yang menurunkan target marketing sales tahun ini dari Rp4,5 triliun menjadi Rp4 triliun. Penurunan target SMRA dipengaruhi penundaan didapatkannya izin […]

CTRP: Key Takeaways From The Asian Gem Corporate Day

Oct 17, 2013 - Indo - 0 Comments - Standard

We invited CTRP to our recent conference and these are our key takeaways: a) 2013 marketing sales of Rp1.7t unlikely to be achieved due to unfavourable economy condition, b) 2014 marketing sales are expected to be at around Rp1.2t, c) limited impact from the new LTV regulations, d) CTRP is now expanding in Bali and […]

CTRA: Still relatively strong sales momentum

Oct 17, 2013 - Indo - 0 Comments - Standard

Landed residential product continue to be the driver Ciputra Development (CTRA) reported its September marketing sales figure reaching Rp688bn (+38% MoM, +41% YoY). Landed residential and shop houses continue to be the driver of sales recording combined sales of around Rp4.8tn (or 64% of total sales). Further Jakarta and Sumatra is the main contributor of […]

Secondary property market survey: Worrying development

Oct 17, 2013 - Indo - 0 Comments - Standard

Our completed small survey to 10 brokers from each location in Serpong such as: Alam Sutera, Bumi Serpong Damai, Summarecon and Lippo Karawaci on secondary market condition of late results in worrying development. We learned that it now takes an average 9 months to sell property in the secondary market (exhibit 1), versus an average […]

Property Secondary market survey: Worrying development

Oct 11, 2013 - Indo - 0 Comments - Standard

§ Longer periods to sell property in Serpong: We just completed a small survey to 10 brokers from each location in Serpong such as: Alam Sutera, Bumi Serpong Damai, Summarecon and Lippo Karawaci on secondary market condition of late. We learned that it now takes an average 9 months to sell property in the secondary […]

CTRP: Still Optimistic Amid A More Challenging Environment

Oct 02, 2013 - Indo - 0 Comments - Standard

Despite booking 8M13 marketing sales of only Rp280b, CTRP is still optimistic about registering 2013 marketing sales of Rp1.7t. As for 2014, marketing sales are expected to slow down to Rp1.2t as sales contributions from Ciputra World-Jakarta (CWJ) projects are going to decrease. CTRP is now expanding in Bali and West Jakarta and expects more […]

INDO PROPERTY & BANK : New policy on mortgage

Sep 16, 2013 - Indo - 0 Comments - Standard

News. Bank Indonesia (BI) plans to impose a new rule on mortgage for landed houses: Buyer could apply mortgage ONLY for completed landed houses. Worth to noting that currently buyer could use mortgage for the indent/under construction of landed houses.                           Analysis – Property sector. In our view, Bumi Serpong Damai (BSDE) and Ciputra Development […]

CTRP – Ready for launch

Sep 05, 2013 - Indo - 0 Comments - Standard

Ciputra Property (CTRP-BUY-IDR740-TP:IDR1,040) Ready for launch Strong 2013 earnings supported by solid marketing sales CTRP is set to experience strong 2013 performance with top line of IDR1.9t (+130% y-y), helped by recognition of solid 2011-2012 marketing sales CAGR of 614% (Exhibit 19). We expect around 56% of CTRP’s revenue to stem from recognition of Ciputra […]

Marketing sales PT Ciputra Development Tbk (CTRA, Rp1.010) selama 7 bulan pertama tahun ini dibukukan Rp6,3 triliun

Aug 20, 2013 - Indo - 0 Comments - Standard

Marketing sales PT Ciputra Development Tbk (CTRA, Rp1.010) selama 7 bulan pertama tahun ini dibukukan Rp6,3 triliun, atau 62,2% dari target setahun 2013 dan naik 73,6% antar tahun (year on year/YoY). Salah satu anak usahanya, PT Ciputra Surya Tbk (CTRS, Rp2.475) membukukan marketing sales Rp2,4 triliun pada periode yang sama, 75,3% dari target setahun penuh […]

CTRP targets to open 20 budget hotels in the next 1-2 years

Jul 09, 2013 - Indo - 0 Comments - Standard

CTRP targets to open 20 budget hotels in the next 1-2 years Ciputra Property’s (CTRP-BUY-IDR1,070-TP:IDR1,380) Director, Artadinata Djangkar, stated that the company plans to improve recurring income by opening 20 budget hotels in the next 1-2 years under the name of “Citradream” with each hotel costing IDR40-50b to establish. Arta added that he expects 5-6 […]

JRPT membentuk usaha patungan dengan anak usaha CTRP, Ciputra Niyantalestari

Jul 03, 2013 - Indo - 0 Comments - Standard

Jaya Real Property (JRPT) membentuk usaha patungan dengan anak usaha Ciputra Property (CTRP), Ciputra Niyantalestari. Kerjasama ini untuk membentuk perusahaan bernama PT Jaya Citra Hotel dimana perusahaan ini akan membangun hotel di atas tanah seluas 1.079 m² di kawasan Bintaro Jaya, Tangerang Selatan. Porsi kepemilikan modal JRPT dan Ciputra Niyantalestari di Jaya Citra Hotel masing-masing […]

CTRP untuk tahun 2013 menargetkan sales mencapai Rp1.95 Triliun (+141.2% y-o-y) dan laba bersih mencapai Rp590 Milyar (+84.9% y-o-y)

Jul 03, 2013 - Indo - 0 Comments - Standard

Ciputra Property (CTRP) untuk tahun 2013 menargetkan sales mencapai Rp1.95 Triliun  (+141.2% y-o-y) dan laba bersih mencapai Rp590 Milyar (+84.9% y-o-y). Emiten juga baru menambah lahan seluas 7.2 hektar di Jakarta Barat. Penambahan lahan ini akan semakin mendongkrak pendapatan emiten di tahun-tahun yang akan datang.  NAV untuk CTRP adalah Rp2381/share.Performance CTRP selama 2012 pun cukup baik dimana emiten […]

Tower 4 to be constructed in CWJ 1 (CTRP)

Jun 27, 2013 - Indo - 0 Comments - Standard

Tower 4 to be constructed in CWJ 1 Ciputra Group’s President Director, Candra Ciputra, stated that Ciputra Property (CTRP-BUY-IDR1,230-TP:IDR1,380) plans to construct an office tower, referred as Tower 4, in Ciputra World Jakarta 1 (CWJ 1) area. Candra explained that Tower 4, which will have 85,000sqm with 46 floors, is expected to begin construction by […]

CTRP untuk tahun 2013 menargetkan sales mencapai Rp1.95 Triliun (+141.2% y-o-y) dan laba bersih mencapai Rp590 Milyar (+84.9% y-o-y)

Jun 20, 2013 - Indo - 0 Comments - Standard

Ciputra Property (CTRP) untuk tahun 2013 menargetkan sales mencapai Rp1.95 Triliun  (+141.2% y-o-y) dan laba bersih mencapai Rp590 Milyar (+84.9% y-o-y). Emiten juga baru menambah lahan seluas 7.2 hektar di Jakarta Barat. Penambahan lahan ini akan semakin mendongkrak pendapatan emiten di tahun-tahun yang akan datang.  NAV untuk CTRP adalah Rp2381/share.Performance CTRP selama 2012 pun cukup baik dimana emiten […]

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