10/04: The 1st In Indonesia & The World The Technical Analysis of PT Bekasi Fajar Industrial Estate Tbk (BEST). (The 35th IPOs in Indonesia by CTA)
Strategy: Buy target 280/300.
Resist : 185 (add buy jika breakout)/197 (add buy jika breakout)/211 (210) (add buy jika breakout)/226 (230)/246 (250) (add buy jika breakout)/288 (290) Sell/336 (340)
Support : 157 (Sell)/144/133 (sell)/127/121 (Buy)
Listing IPO: Bekasi Fajar Industrial Estate (Business activity : Industrial estate development in Cikarang, West Java., Nominal price : Rp100 per share, Offer price : Tbd, IPO shares : 1.77b shares (20.14% of enlarged shares), Warrant : 882.5m warrant, every for 2 new share to get 1 free of warrant, Use of proceeds : To replenish capital in subsidiary, to acquire land in West Cikarang, West Java), Wholesale Inventories
Bekasi Fajar IPO Oversubscribed 106 Times
Bekasi Siap Bangun Apartemen di Cikarang Barat
Jual 20% Saham, Bekasi Fajar Incar Rp 325 Miliar
Bekasi Fajar Kicks Off IPO
Berencana IPO, Bekasi Fajar akan lepas 20% saham
Company Brief PT Bekasi Fajar
Industrial Estate Tbk (BFIE)1.PT Bekasi Fajar Industrial Estate Tbk (BFIE) is a company that focuses on developing and maintaining industrial estates along with its infrastructure and supporting facilities. The Company’s flagship industrial estate is “Kota Industri MM2100” (MM2100), located in Cikarang, Bekasi.
2.MM2100 is easy to reach from Cikampek Toll road, at km24.9 from Jakarta. This is relatively close to Tanjung Priok Port compared to Lippo Cikarang (km 28), and Jababeka (km 31).
3.Currently, the company and its subsidiary PT Bekasi Matra Industrial Estate (BMIE) own total land bank of 816 hectare. 584 hectare of the land bank is ready to be sold, while the remaining 232 hectare is still undeveloped.
4.There are 150 domestic and multinational companies that set up its factories and/or warehouses in MM2100 estate. Some of big tenants in MM2100 estate are PT Toyota Astra Motor, PT Astra International Tbk, PT Denso Indonesia, PT Astra Daihatsu Motor, PT Nutrifood Indonesia, and many more.
5.BFIE is affiliated to Agro Manunggal Group, which also owns Alam Sutera Realty Tbk (ASRI).
6.According to the Company, the appraised NAV of its land reach Rp2.8 trillion.
MM2100 Industrial Town is fully integrated industrial estate developed by PT. Megalopolis Manunggal Industrial Development (MMID), established in 1990 by two well regarded corporation; Marubeni Corporation of Japan and Manunggal Group of Indonesia. With more than 170 manufacturing and supporting companies, MM2100 Industrial Town is one of the best value industrial estate in Indonesia.
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