"Saksikan tayangan kami Official Youtube IDX Channel di Program Market Buzz, Senin (06/01/2025) dengan Tema Anak Usaha PANI Tetapkan Harga IPO Tertinggi, Target Rp2 Triliun"
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00:00To discuss this morning, we are already in contact with Mr. Reza Priyambada, Director of PT Reliance Indonesia Tbk Security, good morning, Mr. Reza.
00:08Hello, good morning, Mr. Yuki. Good morning, Mr. Adis.
00:12Good morning, thank you for joining us. Happy New Year, Mr. Reza.
00:16Yes, good. Happy New Year, Mr. Yuki.
00:19Okay, we just met at the beginning of 2025, I hope throughout this year, the journey of IASG is in line with what we then hope for.
00:29One thing that is also quite noticeable, quite intense, is related to Meten Agung Sedayu and Salim Pani.
00:37This is significant, in 2024, this is related to the IPO of CBDK's subsidiary, which is priced at Rp 4,060 million and targets a budget of Rp 2 trillion.
00:48Actually, how interesting is the IPO of CBDK in 2025, Mr. Reza?
00:56Yes, thank you, Mr. Yuki.
00:58Yes, so if we look at it, the IPO of Anausa Pani or CBDK is quite popular among investors.
01:10Because of the IPO of its mother, which is Pani, investors also hope that CBDK will experience a price recession like Pani.
01:23Especially if we look at the development that has been done by Pani in a number of areas, it is also quite massive.
01:34We see the development from the second peak, and then also some projects that have been reduced by Pani.
01:42This also seems to be a very good progress, and that is a positive response from the market players.
01:51Okay, that means there is confidence from the investors themselves related to Anausa from Pani,
01:55which most likely in terms of performance will be more or less the same as the mother of the business, right?
02:01Yes, especially with the price recession that is discussed by the market players.
02:07Okay, Rp 4,060 is still reasonable, right?
02:10Of course, this is related to the projection of CBDK's IPO.
02:15Yes, if you look at the price, it can be said that it is premium.
02:23The market players also saw that at the beginning of Pani, it was still around Rp 4,000.
02:35Then until now in Pani, it is around Rp 17,000.
02:41They see potential like that.
02:43So the possibility seen by the market players means that CBDK with Rp 4,000 may have a price recession like Pani above Rp 10,000.
02:56That's what the market players see.
02:59Okay, this is also interesting, related to the IPO from CBDK here,
03:03which is recorded in the main board with a market cap of Rp 23 trillion.
03:08What is your recommendation related to CBDK in the current public offering period, Mr. Reza?
03:15Yes, if we look at it later, Pani will have a fresh data,
03:22which has been reported to be Rp 2.3 trillion,
03:27where all this funding will be used to participate in the IPO of Palmdale and Nusantara.
03:36Later, the development carried out by Pani, in addition to developing the area,
03:45there are also other business segments that are still related to their business segments.
03:52So we hope that with the presence of a price recession between Rp 3,000 and Rp 4,000,
03:59it can be seen by the market players.
04:02Okay, from the information that has been collected, all the funds obtained from the public offering
04:06are used to participate in the affiliation of investors, namely PT Industri Pameranusantara or PTIPN
04:13in the form of equity as a fund to pay for building construction projects,
04:17for the purpose of meetings, incentives, conferences, and exhibitions, or MAIS.
04:22How do you see this, Mr. Reza?
04:26Yes, so as we discussed at the beginning, that the development of PIKMUBA is massive.
04:34So the property is not just a building, a house, an apartment,
04:41but the support segment is also observed by the market players.
04:49So when there is a complete facilitation in an area,
04:54it will be interesting for the buyers.
04:59For example, if Mr. Vicky wants to buy a house or an apartment in PIKMUBA,
05:04if there is no facilitation, of course he will think about it again.
05:09But when Mr. Vicky wants to buy a house or an apartment in PIKMUBA,
05:14if there is a facilitation, there will be a meeting, and so on.
05:19Of course, this will increase the interest.
05:22It can even be the music that makes the asset property of Mr. Vicky as an investment.
05:28That's what is being developed by PANIM, ICBDK,
05:34and that's what's been progressing so far.
05:38It means that the company and the investor can complement each other,
05:42and this can also increase the added value of the property project that has been built by PANIM itself.
05:48In the future, there will be facilities and so on.
05:51And from the point of view of the community who may be interested in buying the property there,
05:57with the facilities available, this also increases the sales power.
06:03That's right. The facilities in a property project are various.
06:09Schools, shopping malls, markets, then maybe what needs to be considered is also transportation.
06:19If the transportation there has been integrated or not,
06:26this can be developed by ICBDK or PANIM in their area.
06:32As information, the general offer period is from 3 to 9 January 2025,
06:37and the effect will fall on 9 January 2025.
06:40Meanwhile, the same distribution will be implemented on 10 January 2025,
06:45and the company will have a listing on 13 January 2025.
06:49It's something that may be very much awaited by investors.
06:54Okay. Related to the number of PIKDU or PANI shareholders,
06:59it has increased to 31,667 investors per December 31, 2024.
07:06This figure, of course, increases drastically, 100%,
07:10if we then compare it with the position per August 31, 2024,
07:14which still has 14,216 shareholders.
07:17Then, what is your recommendation in relation to PANI, Mr. Reza?
07:23Yes, okay.
07:24Currently, PANI is still active in the area,
07:36for example, last weekend,
07:41PANI experienced a sluggish period,
07:45after the highest level was 17,500,
07:50then there was a sluggish period.
07:53For this time, the market share is still high,
07:56especially related to the continuation of the building of CBDK.
08:02For now, PANI is active in the level of support between 16,850 to 16,900.
08:11Then for the next target resistance level,
08:15the target resistance level is 17,350 to 17,550.
08:22Okay, so the increase in the number of investors is significant,
08:25this will also have an impact on the movement of PANI's share price in the future, right?
08:29Yes.
08:30Okay.
08:32If we look at it, even though it looks like PANI is becoming a primadona lately,
08:38if we compare it with its peers, what is it like, Mr. Reza?
08:42From the valuation, then also from the projection to the future,
08:46what is it like, Mr. Reza?
08:48Yes, if we look at it, it must be planned with the peers of PANI,
08:54the development that can be done in other areas,
09:01for example, like BSDA.
09:06Actually, if we look at the price-to-earning ratio,
09:12PANI is usually higher than BSDA,
09:17meaning that they both develop areas,
09:20but the price-to-earning ratio is higher than PANI.
09:24Even if we compare it with SMRI,
09:28when talking about areas like that,
09:31because the news or the government is closely related to their massive progress,
09:40that makes the market players tend to choose PANI,
09:45because if we look at it from the point of view of the planned bank that is called PANI,
09:53PANI continues to optimize their planned bank,
09:58even though if we look at the planned bank area,
10:02it is still bigger than BSDA,
10:08but what has been done by the market is the development progress
10:12or the land optimization progress,
10:14which ultimately makes PANI more interested in the market players.
10:20Thank you, Mr. Reza.
10:22We will continue in the next segment.
10:24We would like to send our best wishes to you.
10:26We will be back soon.