SMRA - Established two joint venture companies with Setiawan Dwi Tunggal

SMRA - Established two joint venture companies with Setiawan Dwi Tunggal Summarecon Agung (SMRA), through it’s subsidiaries Summarecon Investment Property (SMIP) and Summarecon Property Development (SMPD), has established two joint venture companies with SDT. The JV companies is domiciled in South Tangerang and the collaboration is geared towards the joint development of a residential and mall project, with specific development details remaining undisclosed. (Source: Company) Comment: We are positive on the news, as it is expected to contribute to SMRA's growth story in the mid-years, encompassing both development and recurring income. Our channel check reveals that Setiawan Dwi Tunggal is currently involved in the development of 60 ha township in South Jakarta, encompassing the Cinere and Pondok Cabe areas.