JAKARTA – The management of PT Bumi Serpong Damai Tbk (BSDE), a land and property developer, claims to be committed in concluding the acquisition process of PT Suryamas Dutamakmur Tbk (SMDM) at the end of 2024.

As mentioned by IDNFinancials before, BSDE is known to have signed a Conditional Shares Purchase Agreement over 91.99% of SMDM’s shares from Top Global Limited (TGL) at the end of July 2024.

According to Hermawan Wijaya, Director of BSDE, during Public Expose Live 2024 of BSDE today (28/8), the company is committed to wrap up the administration process for this acquisition. “The payment may take place this year or next year,” he said.

Furthermore, Wijaya said that the acquisition of SMDM will benefit BSDE through increased landbank, longer development period, as well as diversified market area.

“SMDM owns landbank in Bogor, Rancamaya, Jonggol, and Cibubur. In the future, we expect our marketing sales to increase higher,” added Wijaya.

Until June 2024, BSDE’s marketing sales reached IDR 4.84 trillion or 51% of total target this year of IDR 9.5 trillion. In addition, Wijaya also targets gross profit margin to remain stable at 65-70% at the end of this year. (ZH)