Daily Brief Indonesia: Pakuwon Jati and more

• Pakuwon Jati stands out with its robust recurring income stream, primarily from a strong portfolio of retail malls, which provides a stable cushion against the cyclicality of its development business.
• The company is pursuing a clear growth strategy by expanding its successful ‘superblock’ concept to new cities like Batam and Semarang, and launching new high-rise projects, which is expected to drive future earnings.
• While the development arm faces headwinds from a soft condominium market and high capital expenditure requirements for new projects, the company’s strong balance sheet and attractive valuation present a compelling investment case.

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