Agung Podomoro is increasing its marketing sales up to Rp2.23tn from January

APLN: Agung Podomoro (APLN) is increasing its marketing sales  up to Rp2.23tn from January to April 2013 (+44.2% yoy), due to a massive expansion. The main increase came from The Podomoro City Extension (57% or Rp1.27tn), and the remaining from the other projects, namely Villa Hils (15%), Soho@ Pancoran, and Metro Park Residence (7%), as well as Grand Taruma(6%) and Parahyangan Residence (3%). For 2013, APLN targets the pre-sales of Rp6tn. Moreover, the company has signed CSPA to acquire 60% stake of PT Simprug Mahkota (SMI) and also, 99.9% of PT Tatar Kertabumi and PT Astakona Megahtama through its subsidiary, PT Pesona Gerbang Karawang (PGK), driven by its land bank increase. (Kontan)