Gallant Venture - Indomobil a Drag | I3investor

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Gallant Venture - Indomobil a Drag

StockFanatic

Publish date: Wed, 30 Jul 2014, 08:44 AM

Gallant Venture's main subsidiary, Indomobil, released disappointing 2Q14 results with a IDR43bn net loss (vs 2Q13 profit of IDR228bn) and revenue of IDR4.65trn (-17% y-o-y). While Indomobil may put a drag on Gallant Venture, its Bintan core business is progressing as expected with about SGD80m likely to be realised as land sales towards year-end. We put our estimates and TP under review.

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