Brokers' take

CapitaLand > Buy OCBC Research, Sept 8 Sept 8 close: S$3.70 Target price: S$4.13

CAPITALAND reports that it is investing about S$300m in Indonesia, South-east Asia's largest economy. The group's first integrated development in the country, The Stature Jakarta, is on track to be completed in 2020 at a total development cost of S$220m.

CapitaLand will further expand its Indonesian presence by investing S$74.3m in a 192-unit serviced residence, Ascott Sudirman Jakarta, through The Ascott Ltd. The group reports that it has identified Indonesia as a growth market, which is underpinned by sound fundamentals such as steady economic growth, rapid urbanisation, increasing domestic consumption, a young population and a rising affluent middle class.