Bumi Serpong Damai (BSDE IJ): Accelerates asset monetization
Bumi Serpong Damai (BSDE IJ) BUY / TP: IDR:1,430 (+58.0%) Analyst: Yap Swie Cu
Accelerates asset monetization • Strong revenue booking continued in 1Q22 • Decline in gross margin and rising sales & marketing activities dragged on bottom-line profit • Healthy balance sheet and cash flow; vast land bank secured • Earnings estimate for 2022F revised up • Re-iterate BUY
