IPO CBD PIK 2 atau PT Bangun Kosambi Sukses Tbk(CBDK) adalah salah satu yang paling menuai perhatian, mengingat perseroan merupakan emiten besar "mercusuar" dengan membidik dana IPO RP2,3 Triliun. "Saksikan tayangan kami Official Youtube IDX Channel di Program Market Buzz, Jumat (10/01/2025) dengan Tema Menuju IPO Emiten "Mercusuar" Sektor Properti, Bidik Dana Rp2,3 Triliun".
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00:00Thank you for staying with us, and now we will move on to the Spotlight market for today, Friday, January 10, 2025.
00:07Among them, the Hokies, The Fed, and the ISG are closed and weakened to level 7064 with 350 shares weakened at the closing of trading on Thursday, January 9, 2025.
00:20Meanwhile, on Thursday, January 9, 2025, the Cuon and MMEX shares entered the UMA category.
00:27Meanwhile, for the next information in the Spotlight market, this time the Queen shares are almost 2 days down, still above 24% of its strength.
00:39Then we will also continue to the economic agenda.
00:44The data is from Indonesia, related to the data of car and motorcycle sales.
00:48Then there is retail sales in Indonesia year-on-year in November.
00:52And there is also data on new loans in China in December.
00:56And there is data on unemployment rates in Malaysia in November.
00:59And the number of transactions in the Philippines.
01:01Then from the United States, there is data on unemployment rates in the United States in December.
01:05And there is also data from FOMC, Bowman, and Parkin.
01:10Then there is also a reserve position in the Federal Reserve Bank, still from the United States.
01:15And the next is the METAN agenda, which I think is interesting for us to observe on Friday, January 10, 2024.
01:21Among them are SMAR held by Europe S, GTSI, and also KUAS held by Ex-Dividend Tunai Interim, BSSR, Ex-Dividend, and IPCM, payment of cash dividends.
01:33And next we will look at the opening of the main Asian exchanges this morning.
01:38As you can see on the television screen for the main Asian exchanges.
01:42Comac opened weakening with Nikkei weakening 0.95% at level 39,299.
01:47STI Singapore also weakened 1.34% at level 3,810.
01:52KOSPI Korea opened weakening 0.3% at level 2,514.
01:56And Hang Seng Hongkong opened weakening 0.2% at level 9,240.
02:06Yes, for example, one METAN Mercusuar or Jumbo will soon be recorded or IPO next week.
02:11The METAN is a subsidiary of PT Pantai Indah Kapuk II or PANI, namely PT Bangun Kosambi with the stock code CBDK.
02:20And here is the profile.
02:23Yes, with the stock released 10% with the offer price at level 4,060.
02:31With the upper limit, with the funds allocated as much as 2.3 trillion rupiah.
02:38With the majority holder PT Pantai Indah Kapuk II or PANI as much as 51%.
02:44And the use of funds for the MAIS project through PTIPN.
02:49And the date of registration in Bank Indonesia is Monday, January 13, 2025.
03:02And to discuss what is actually the prospect of CBDK, Jelang and IPO.
03:08This morning, we have Mr. Karel Devin Veylem.
03:12He is an analyst from Trimoga Securitas, which is the guarantor of the implementation and emission of the CBDK effect.
03:18Good morning, Mr. Karel.
03:21Good morning.
03:23Yes, thank you for joining us, Mr. Karel, in this morning's Market Watch.
03:27If we look at this, then it becomes an IPO that may also be quite anticipated by the market players, like CBDK.
03:36If we look at it first, 8618 IPO in January is the largest, aka the largest CBDK.
03:41Actually, if we look at the market cap, what is it like, Mr. Karel?
03:47Okay, so PT CBDK will be an IPO and it will exceed 10%, and it aims for 2.3 trillion.
03:57Well, the market cap of this CBDK is around 23 trillion for the listing on Monday.
04:05It means that in terms of market cap, this is also a large one, and the funds targeted to be listed on an IPO will be 2.3 trillion.
04:14This is also quite large.
04:16And actually, if we look at it from the sector itself, how interesting it is, then it becomes an emittance in the property sector.
04:26Then this is a development that is quite interesting in terms of prospects.
04:34Okay, so for this CBDK, in my opinion, it plays in the high-income segment, the upper segment.
04:42Well, if we can see it, now there is only Yapani if we look at the upper segment.
04:49If we look at this CBDK, it will focus on the upper segment to sell residential, there is also Ruku.
04:58Then after that, it focuses on the CBD area.
05:01Well, this is interesting, so many offices will open there, such as BCA, then BNI, Bank Mandiri.
05:09Well, it will be there, and of course, with the existence of large banks that are open there, it will create economic activities.
05:19Of course, what can be said is high-income payment.
05:23Well, of course, when there is a high-income payment, of course, there will be many people living there because it is close to where they live, close to where they work.
05:35Okay, this is if at a glance, the profile of the CBDK itself is an emittance controlled by Agung Sudayu, which is managed by Sugiantok Sumato Aguan and Salim Group,
05:45so that the company manages a number of development projects at the peak.
05:48Actually, how optimistic are you seeing this emittance prospect after the IPO, Mr. Karel?
05:54Okay, before Mr. Aguan's birthday today, I want to say happy birthday first.
06:00Okay.
06:01Okay, so after the IPO, so this IPO fund is to build MICE, Meeting Incentive Convention Center.
06:10Well, after the IPO, it will be built immediately for MICE and it will be done soon.
06:15So, later on this CBDK, it will be or at the second peak, there will be a big hall and there will be a lot of concerts.
06:24For example, if we see all this time, our concerts are at GBK or somewhere else, right?
06:32Later at the second peak, there will be concerts or big hall meetings, even international events can be held there.
06:39And of course, it also creates economic activities there.
06:43And of course, if there is a meeting or a big event, it will also increase the price of land there and also increase the sales prospects there.
06:55Of course, if I say this IPO is really good, the use of funds.
07:01Okay, it means this will be a business that also supports the business from you, right?
07:06Will then complete the facilities in the area.
07:12Well, if you look at the price itself, this is above the limit at Rp 4,060.
07:17In terms of valuation, what is it like?
07:20Does this become an interesting price or does it enter a fairly premium market?
07:25So then the investor who will collect this share is not retail.
07:35Or maybe you see the possibility that retail will still be interesting to enter this CBDK?
07:41Yes, if I look at it, okay, it is valued at a higher price.
07:45But if I personally calculate, this is still a discount to relative net asset valuation at around 80%.
07:57While in its peers, or in friends like Cikutra, BSD, and others at around 60%.
08:06Of course, in my opinion, this CBDK is still interesting among its other friends.
08:11Well, of course, this CBDK also has a very fast earnings growth in the future.
08:18Because it still has a lot of empty funds and it can be said that there are still a lot of future projects.
08:25And if we look at it, those who still have a lot of purchasing power are the upper segment.
08:31Of course, if I look at it, it's interesting for CBDK.
08:34Okay, there are still a lot of land banks, so there are still a lot of projects that will be implemented in this location.
08:41If you have the data so far, how is the update from the interest of the investor itself?
08:46And also the possibility of over-subscribing in the IPO of CBDK, which then happens repeatedly, Mr. Karel?
08:56Okay, so the interest in CBDK is very, very high.
09:01The latest update is around 344 times over-subscribed.
09:06Well, we can multiply it by 2.3 trillion times 344 times.
09:12Well, that's probably around almost 700 trillion in line at CBDK.
09:16If I look at it, the interest is very, very big in this CBDK.
09:20Okay, based on the IPO, maybe the price will also increase significantly.
09:26And this is the entry position of the investor himself.
09:29It looks like it has been done.
09:31This is then seen from the entry position that has been done.
09:34Okay, if we look at the 2.3 trillion Rupiah fund, according to the information, what will this actually be used for, Mr. Karel?
09:47Okay, so for the IPO fund, 100% will be used to build corn.
09:52Later, the name of the corn is Nice Day Peak 2.
09:57100% of the use will be built for that.
10:01Well, of course, if I look at the office area or the economic area, if you really want to move forward and want the price of land to continue to increase,
10:15yes, of course, there can be international events or events that are ganging up in the world.
10:22And what else, this CBDK or Peak 2 is close to the airport.
10:27So if there is an international event, it's easy for foreigners to come here because the access is easy.
10:35Okay, how much is this 2.3 trillion Rupiah fund?
10:39The target is that it will support the company's work and its shares in the future, Mr. Karel?
10:46Okay, so if we look at the corn, of course, this CBDK will immediately implement the event.
10:57And I know that the event that will be implemented is big.
11:02And this corn can be said to be very, very big.
11:07Yes, I see the prospects for the future.
11:10Of course, this can be an additional earnings for CBDK.
11:15Of course, from the first one, the price of land can increase because of this corn.
11:21Sales can also increase.
11:22And the third one, I predict also in terms of rental or utilization of this corn is also very, very big.
11:32So of course it increases the earnings of the company.
11:35Okay, this is historically also for property-based shares.
11:38If the facilities are more complete, the price of the property will usually increase.
11:44Or maybe the excitement of the investors to collect the shares.
11:48Okay, for the balance, actually, the shares or sector-based developers or commercial properties are quite sensitive to what?
12:01How far is this?
12:02Then it becomes a concern that is also quite thought by the market players.
12:06We will continue the next session, Mr. Karel and Mr. Musa, stay with us.
12:09We will be back soon.