Garuda IPO pricing delayed to Wednesday - govt

The Indonesian government has delayed a decision on the final pricing for an initial public offering of national flag carrier PT Garuda Indonesia until Wednesday, said Mustafa Abubakar, the state-owned enterprises minister, on Tuesday.

Garuda Indonesia's hopes for a high-flying $1.1 billion IPO may fail to get off the ground because it has been priced so richly that foreign investors have been scared away, sources told Reuters earlier on Tuesday. Source: Reuters

Garuda IPO prices at 750 rph/share, govt to finalise -sources

PT Garuda Indonesia, the country's national flag carrier, has priced an initial public offering at 750 rupiah a share or the bottom of a 750-1,100 rupiah initial range, though the government has yet to make a final decision, sources told Reuters on Tuesday.

The airline is set to raise around $510 million with the pricing at the bottom end of the range, a source told IFR. The sources declined to be identified as the details were not public yet.

Mustafa Abubakar, the state-owned enterprises minister, said earlier on Tuesday that the government has delayed a decision on the final pricing until Wednesday.

Garuda Indonesia's hopes for a high-flying $1.1 billion IPO may have failed to get off the ground because it was priced so richly that foreign investors have been scared away, sources told Reuters earlier on Tuesday. Source: Reuters

Pertamina Earmarks $1 Billion for Energy Acquisitions

PT Pertamina, Indonesia’s state energy company, has allocated $1 billion for acquiring overseas and domestic oil and gas blocks this year to help increase output to meet demand in Southeast Asia’s biggest economy. 

Pertamina is in talks with several domestic energy companies and has listed 20 overseas oil and gas assets as potential targets, Investment Planning Director Ferederick Siahaan told reporters at a conference in Jakarta today. 

“We may acquire several assets this year with minimum production of 5,000 barrels of oil a day,” he said. Pertamina expects to purchase gas assets producing at least 100 million cubic feet a day, Siahaan said. 

Indonesia is increasing investments to help stem a decline in output at aging oil and gas fields, which led to the country withdrawing from the Organization of Petroleum Exporting Countries in 2008. 

Jakarta-based Pertamina is targeting oil and gas blocks in Africa, the Middle East and Caspian Sea, including a stake in the Kashagan oil field in Kazakhstan, Siahaan said.

“We’re seeking blocks that are already in production or development stage,” Siahaan said. The acquisition may help Pertamina to reduce crude imports and raise output by the equivalent of 100,000 barrels of oil a day in 2015, he said. 

Pertamina agreed in June to buy a 15 percent stake in the Semai II oil and gas block in Papua from Murphy Oil Corp., PTT Exploration & Production Pcl and Inpex Corp., Director Bagus Setiardja said at the time. 

The company said in December it had dropped a plan to acquire a stake in Encore Energy Ltd., the parent company of PT Medco Energy Internasional. 

Pertamina plans to spend $1.38 billion until 2014 to develop the Donggi-Senoro liquefied natural gas project in Sulawesi, Siahaan said today. 

Indonesia produced 957,000 barrels of oil a day last year, falling short of its target of 965,000 barrels. The government expects output to reach 952,000 barrels a day this year. Source: Bloomberg

India to Build $3 Billion Steel Plant in Indonesia, Buy Coal, Misra Says

India plans to invest $3 billion to build a steel plant in Indonesia and buy coal from the Southeast Asian nation as part of an initial accord. 

International Coal Ventures Ltd., combining Indian state- run metal and energy companies, will sign an agreement for the plant, which will start with a capacity of 3 million metric tons, Steel Secretary P.K. Misra said today in an interview before the signing ceremony in New Delhi. Indonesia will supply coal to the plant and to the power producers in the group, he said. 

Indonesia expects its $540 billion economy to grow at 7.7 percent by 2014, President Susilo Bambang Yudhoyono told reporters in New Delhi today. Gross domestic product expanded 5.82 percent in the three months ended Sept. 30 compared with a 6.19 percent growth in the quarter ended June 30. 

Indian companies are seeking coal mines overseas to secure raw material supplies for making steel and generating power as international costs increase and the nation grows at over 8.5 percent. Reliance Power Ltd. and the Essar Group are among companies that have bought mines in Indonesia to feed their power stations in India. 

Yudhoyono today began a three-day visit to India and signed $15.1 billion worth of deals in areas including mining, infrastructure and manufacturing. Yudhoyono will be the chief guest at India’s Republic Day celebrations tomorrow. 

The proposed plant, to be located in East Kalimantan, may have a final capacity of 7 million tons, Misra said, without giving a timeframe. 

Surging Coal Demand

India’s coal demand may more than triple in the next two decades as Asia’s second-fastest growing major economy seeks the fuel to generate electricity and run steel, cement plants, Coal Minister Sriprakash Jaiswal said Sept. 24. 

India’s government pledged to provide electricity nationwide by 2012 and needs to increase installed generation capacity to 200,000 megawatts to sustain economic growth, according to the power ministry. More than half of the country’s current capacity of 169,749 megawatts is fueled by coal, increasing demand and forcing companies to seek supplies from overseas. 

Coal India Ltd., the world’s biggest producer, and Steel Authority of India Ltd., the nation’s second-biggest steelmaker, each hold about 28 percent of International Coal Ventures. NTPC Ltd., India’s largest power generator, NMDC Ltd., its top iron- ore producer, and steelmaker Rashtriya Ispat Nigam Ltd. own about 14 percent each. 

International Coal Ventures may also decide this week to bid for Riversdale Mining Ltd., rivaling a A$3.9 billion ($3.9 billion) offer from Rio Tinto Group, Chairman C.S. Verma said Jan. 22. 

Aries Mines

Essar Group agreed to buy the Aries coal mines, which hold as much as 100 million metric tons of the power-station fuel, in Indonesia in March. Tata Power Ltd., India’s largest non-state electricity generator, agreed to pay $1.3 billion in March 2007 to buy a 30 percent stake in two Indonesian coal mines owned by PT Bumi Resources. GMR Group said it bought Indonesia coal mining company PT Barasentosa Lestari in February 2009. 

Reliance Power, controlled by billionaire Anil Ambani, may invest $5 billion to build a railway and develop coal mines in South Sumatra, Yopie Hidayat, a spokesman to Indonesia’s Vice President Boediono, said in Jakarta Aug. 24. The company in June bought three coal mines in Indonesia. Source: Bloomberg

BNP Paribas Recommendation Buy ASII and AALI

BNP Paribas's Jakarta-based analyst Elvira Tjandrawinata recommended investor to buy PT Astra International (ASII) and PT Astra Agro Lestari (AALI).

Elvira saying they are among those where “value is starting to emerge.” 

PT Astra International (ASII), Indonesia’s largest automotive retailer, gained 5.1 percent to 49,200 rupiah and PT Astra Agro Lestari (AALI), its palm oil unit, rallied 7.5 percent to 22,850 rupiah, ending a seven-day loss. 

Chicken or beef? Investors face tough choice with Garuda IPO

* Foreign investors baulk at rich valuations, govt interference
* Stake sale may be cut to $350 mln if demand weak - minister

National carrier PT Garuda Indonesia's hopes for a high-flying $1.1 billion IPO may fail to get off the ground because it has been priced so richly that foreign investors have been scared away. 

Indonesia will set the final price for the long-delayed Garuda offer later on Tuesday, but after riding a surge in interest in Southeast Asia's largest economy and a recovery in the global airline industry, appetite for the deal has sharply fallen. 

Several local and foreign institutional investors briefed by Garuda during a global roadshow over the past two weeks have snorted at pricing that sets shares in the airline at 750 to 1,100 rupiah -- valuing it far higher than more successful regional competitors. 

"We did look at it, but didn't participate and for reasons you already know," said a fund manager who asked not to be identified. "If I reveal those, I will be refused entry into Indonesia on my next trip." 

Investors attracted to Indonesia's booming economy are wary of state interference in a country where some of the biggest enterprises are owned by the government, giving them big advantages over private firms. 

Garuda's IPO has already involved the highest levels of power, with President Susilo Bambang Yudhoyono and his top advisers consulted when airline and privatisation officials went against the advice of the book valuers' suggested range of 560-850 rupiah, sources close to the deal say. 

SIZE MAY BE CUT

The government was accused by some critics of selling off assets cheaply last year when the IPO for Krakatau Steel was heavily oversubscribed after being priced at the bottom of the range. 

Mustafa Abubakar, the state-owned enterprises minister, told Reuters late Monday that cutting the number of shares on offer to raise only $350 million was one option that could be considered in the event of weak demand. 

Garuda is offering a 36.5 percent stake, or 9.362 billion new and existing shares, and if the top end of the range is met it would make it second only to the launch of PT Adaro Energy , which raised $1.3 billion in 2008. 

Garuda's price range reflects 7.4 to 10.8 times its Enterprise Value (EV) to EBITDA, said Iman Rachman, head of investment banking at Mandiri Sekuritas, one of the local underwriters. 

That is higher than regional peers such as Singapore Airlines with an EV to EBITDA at 4.8 times, and Thai Airways at 4.9 times, according to data from Thomson Reuters' Starmine.

Garuda' IPO is the first of a slew of state enterprises due for flotation this year and will also be closely watched by flag carrier Vietnam Airlines, which is planning to go public this year. 

"Don't even ask about international investors," one person familiar with the IPO told Reuters, adding that any interest was focused at the bottom end of the range.

"Garuda will probably get zero international clients at the end of the day. It's that bad." 

Government officials hope that even if institutional investors stay away, shares in Garuda -- named for a mythical giant bird -- will be snapped up by locals keen to own a part of a national treasure. 

Pandu Djajanto, privatization deputy for the state-owned enterprises ministry, said the price reflected a sentimental value of local investors and that Garuda "is our nation's pride".

Even if Indonesians can be persuaded to invest, the offering comes as Jakarta stock exchange has dipped 10 percent this year due to concerns over rising inflation and fears the central bank, which has kept benchmark interest rates at a record low of 6.5 percent for over 18 months, is behind the curve. 

That said, it comes following a year in which Indonesia has been a darling of emerging market investors who have poured billions into equities and bonds, attracted by returns and yields that developed economies can only dream of. 

Garuda, founded in 1949, has flown into difficulty in recent years and only last year was allowed to resume flights to European Union countries after being banned because of concerns over safety standards following a spate of accidents. 

It also experienced significant debt problems, converting loans from Bank Mandiri into a 10.6 percent stake in the carrier, which will be sold off in total if the IPO is fully realised.

Indonesia remains a promising market for airlines, however, with increasing air travel amongst a burgeoning middle class in the world's fourth most populous country across the archipelago's 17,000 islands and beyond. 

Citigroup and UBS are joint bookrunners on the deal. Source: Reuters

Tugu Pratama aims to sell 30 pct stake via IPO in H1

PT Tugu Pratama, an Indonesian insurance firm majority owned by state-oil and gas firm Pertamina, plans to launch an initial public offering in the first half of 2011 by selling 20 to 30 percent new shares, Frederick Siahaan, a Pertamina's director, said on Tuesday.

Siahaan declined to comment on how much the company expects to raise, but Pertamina currently owns a 65 percent stake in the firm. Source: Reuters

Goldman Revises Down Rupiah Forecast to 9,000 in Three Months

Goldman Sachs Group Inc. lowered its three-month forecast for Indonesia’s rupiah to 9,000 per dollar from 8,750, citing financial-market volatility. 

Bank Indonesia will boost its policy rate by 25 basis points to 6.75 percent when it meets on Feb. 4, according to a Goldman Sachs research report released today. Consumer prices in Southeast Asia’s largest economy rose 6.96 percent in December, the most in 20 months, according to official data. 

“We believe intensifying inflationary pressure is now the dominating factor for monetary policy,” Enoch Fung, a Hong Kong-based economist at Goldman Sachs, wrote in the report. “We expect to see more gyrations in financial markets at the early stage of the policy tightening cycle.” 

The rupiah gained 0.2 percent to 9.053 per dollar as of 10:44 a.m. in Jakarta. The currency has declined 0.8 percent this month after rallying 4.6 percent last year. 

Goldman also revised its six- and 12-month forecasts for the rupiah to 8,800 and 8,700, from 8,600 and 8,450 respectively. Bank Indonesia will boost its policy rate by 100 basis points in the first half and another 50 basis points in 2012, the report said. 

Inflation may accelerate to 7.5 percent in the first quarter and 7.7 percent in the second quarter, versus previous estimates of 6.4 percent and 6.2 percent respectively, the report said. Source: Bloomberg

Copper ends up, tin hits record on supply concerns

* Tin strikes record at $28,190 a tonne

 * Copper to average $9,663/T this year - Reuters poll

 * Investors keep eye on lead dominant position

 * Coming up: U.S. consumer confidence data on Tuesday

 

Copper ended up for a second consecutive day on Monday, and tin prices notched a new record high as supply-side constraints reinforced a bullish outlook for both metals.  Down about 5 percent from all-time records this year at $9,781 per tonne in London and $4.4980 per lb in New York, copper prices regained their composure late last week in anticipation of robust Chinese demand prospects, even as fears of tighter monetary policies
there remained. 

London Metal Exchange (LME) copper for three-month delivery CMCU3 closed up $88 at $9,529 a tonne. COMEX March copper HGH1 added 3.95 cents to settle at $4.3485 per lb, after dealing between $4.3090 and $4.3725.

LME tin CMSN3 hit a record high of $28,190 a tonne, before ending the day at $28,095, up $350 from Friday's close.  "Tin and copper are very supply constrained metals, that's not
going to be resolved for many months, if not years," Robin Bhar, an analyst at Credit Agricole, said.

Indeed, a widening market deficit could propel copper to new record highs this year, as exchange-traded products and a narrowing supply surplus buoy prices, according to a Reuters poll.

The consensus of 50 forecasts showed the cash copper price CMCU0 would average $9,663 a tonne this year.  Tin is forecast to rise almost 38 percent this year, according to the average of 24 forecasts, the Reuters poll showed, driven by dwindling reserves, rising demand, and unusually wet weather in big producer Indonesia.Source: Reuters

Mandiri set to raise $1.3 bln in rights

* Mandiri set to raise 11.7 trln rph-term sheet

* Mandiri set rights price indication at 5,000 rph/share

* Placement on govt portion set at 5,150-5,200 rph/share

* Set to be Indonesia's second-biggest rights issue 

PT Bank Mandiri (BMRI.JK), Indonesia's biggest lender, was set to raise 11.69 trillion rupiah ($1.3 billion) in a rights issue, set to be Indonesia's second-biggest rights offering, based on the term sheet obtained by Reuters on Monday.

The rights issue price indication of 5,000 rupiah per share, just below the mid point of the previously indicated 4,000 to 6,150 rupiah range, is a 9.1 percent discount to Mandiri's close on Monday of 5,500 rupiah.

The state-owned bank's capital raising will be the second biggest rights issue in Indonesian after PT Bakrie and Brothers (BNBR.JK) raised about 40 trillion rupiah in 2008.

However, it becomes the nation's biggest rights offering by a bank, beating an issue of Bank Negara Indonesia (BBNI.JK) which raised 10.46 trillion rupiah in December 2010.

Mandiri had planned to raise between 13 trillion rupiah and 14 trillion but dropped the size as investors drove the Jakarta stock market .JKSE down more than 10 percent from its record high set early this month due to inflation worries.

Shares in Mandiri, which has a market capitalisation of $12.8 billion, are down almost 15 percent so far this year, while the Jakarta index .JKSE dropped 10.2 percent.

The bank will issue 2.34 billion new shares through a rights issue, diluting the government's stake to 60 percent.

The government portion will be sold in a placement and has been priced at an indicative 5,150 to 5,200 rupiah, or a 5.5 to 6.4 percent discount to Monday's close.

The price is subject to the approval of a shareholder meeting on Jan. 28.

Most of the capital raised would be used to fund loans while the rest would be used for acquisition opportunities in insurance firms, the bank has said.

The bank has picked Deutsche Bank (DBKGn.DE) and Bank of America Merrill Lynch (BAC.N) as joint global coordinators for the offering, with CLSA Asia Pacific Market and Citibank (C.N) as joint global bookrunners. Source: Reuters

Rekomendasi Beberapa Sekuritas, 25 Januari 2011

Berikut rekomendasi dari empat sekuritas ternama untuk perdagangan Selasa, 25 Januari 2011.

 

1. E-Trading Securities

Pada perdagangan kemarin, IHSG ditutup turun 33 poin (-0,99%) ke level 3.346,06, melanjutkan koreksi yang terjadi selama tiga hari berturut-turut. Penurunan masih di range yang tidak jauh dari hari sebelumnya dengan volume perdagangan 5,1 miliar senilai Rp 4,1 triliun. Hari ini indeks diperkirakan bergerak di kisaran 3.327- 3.407, di mana pelaku pasar masih mencermati kondisi ekonomi dan moneter Indonesia. Bargain hunting kemungkinan bisa memicu penguatan sejumlah saham. Amati BBRI, BBTN, dan INDF.

2. Erdhika Sekuritas

Seluruh sektor kemarin melemah, khususnya sektor properti sebesar 5,25%.  Hari ini indeks diprediksi bergerak di kisaran 3.313-3.588 dengan saham-saham pilihan BBTN, MEDC,TLKM  

3. Kresna Sekurindo

IHSG mulai berkonsolidasi meskipun masih berada di area negatif. Indeks hari ini diperkirakan masih sideways di kisaran 3.310-3.400. Level 3.310 menjadi level kunci bagi pergerakan indeks. TLKM dan MEDC menjadi saham pilihan hari ini.  

4. Sucorinvest Central Gani

Aksi jual asing kemarin berlanjut, terutama untuk saham-saham komoditas, industri dasar, properti. Ini menyusul kekhawatiran kenaikan suku bunga dan setelah Presiden SBY menyetujui redenominasi rupiah. Hari ini indeks diperkirakan bergerak mixed dengan potensi rebound pada kisaran 3.310-3.380. Buy BBRI, INDF, SMCB, dan hold INTP, MEDC, dan jual BMRI, JSMR.

Rekomendasi HD Capital, 25 Januari 2011

HD Capital merekomendasikan opsi beli terhadap saham Delta Dunia Makmur (DOID), Bumi Resources (BUMI), Indofood Sukses Makmur (INDF), dan Bank Rakyat Indonesia (BBRI), untuk Selasa, 25 Januari 2011.

BUY: (DOID, BUMI, INDF, BBRI)

* IHSG mulai memasuki tahap awal konsolidasi tren (sideways) dalam keadaan jenuh jual ekstrim pasca koreksi dalam minggu lalu.

* Kelihatannya beberapa saham berkapitalisasi besar dan kecil mulai memasuki daerah oversold untuk scenario potensi technical rebound.

* IHSG close (24-01) 3.341.020(-33.280/-0.99%) (Val.Rp.4.7T)

* Support: 3.280-3.200-3.150, Resistance: 3.450-3.550-3.650

Stock picks:

1. Delta Dunia (DOID): (BUY) (Target: Rp.1.400) (close 24/01 Rp.1.280)

* Optimistis bahwa pada 2011 DOID akan memulai berbalik dengan menunjukkan pertumbuhan laba yang pesat, margin stabil yang didorong oleh bertambahnya kontrak penggalian batubara serta potensi refinancing utang dengan biaya bunga yang lebih rendah.

* Valuasi 2011 PER 11x/PBV 4x terlihat menarik untuk bargain hunting.

* Secara technical ada keadaan oversold & stochastic buy menunjukan kalau kekuatan tren turun mulai berkurang dan potensi technical rebound dapat terjadi.

* Entry: (1) Rp 1.270, Entry (2) Rp 1.250, Cut loss point: Rp 1.220

2. Bumi Resources (BUMI) (BUY): (Target: Rp.3.300) (Close 24/01 Rp.3.025)

* Kelihatannya saham ini stabil di-maintain di atas level psikologis 2.900 sehingga potensi bermain di atas level Rp.3.100 cukup terbuka.

* Eksposur ke ekspor (90%) membuatnya sangat diuntungkan dari kenaikan harga batubara dan potensi adjustmen ASP atau harga jual rata2.

* Valuasi 2011F PER 9x/PBV 2.5x membuatnya termurah di sektornya

* Entry (1) Rp 2.950, Entry (2) Rp 2.850, Cut loss point: Rp 2.725

3. Indofood Sukses Makmur (INDF) (BUY): (Target: Rp 4.900) (Close 24/01 Rp 4.575)

* Kenaikan harga gandum akan dapat memaksa persero untuk menaikan harga jual mie instan sebesar 10-15% Maret ini untuk memperbaiki margin.

* Secara technical terjadi divergensi di daily stochastic yang tidak membentuk new low dalam koreksi dari Rp 4.800 ke Rp 4.300.

* Entry: (1) Rp 4.550, Entry (2) 4.450, Cut loss point: Rp 4.300

4. Bank BRI (BBRI) (BUY) (Target: Rp 5.100) (close 24/01 Rp 4.875)

* Valuasi 2011F PER/PBV (11.2x/2.7x) yang cukup murah dan profitabilitas tinggi (ROE 27% & NPM 21%) menjadikan ini kandidat untuk rebound dari keadaan jenuh jual (oversold).

* Emitten ini cukup terinsulasi dari resiko external dan CAR 11% dibawah standard industry.

* Rencana persero untuk lebih aktif bergelut di perkotaan belum sepenuhnya dihargai oleh pasar.

* Entry: (1) Rp 4.850, Entry (2) Rp 4.750, Cut-loss point: Rp 4.600

Dibuat oleh:

Yuganur Wijanarko

Senior Research HD Capital (Yuganur@hdx.co.id)

Modernland Targetkan Penjualan Properti Tumbuh 112%

PT Modernland Realty Tbk. menargetkan penjualan properti tahun ini tumbuh 112 persen dibanding tahun lalu, menyusul membaiknya pasar properti dan kondisi makro ekonomi serta stabilnya suku bunga Kredit Pemilikan Rumah (KPR).

"Jika tahun lalu, penjualan kami Rp250 miliar, maka tahun ini kami targetkan tumbuh 112 persen atau mencapai Rp530 miliar," kata Chief Marketing Officer PT Modernland Realty Tbk Andy K Natanael saat dihubungi di Jakarta, Minggu (23/1).

Menurut Andy, pada tahun ini pihaknya akan menggenjot penjualan dengan berbagai cara antara lain membangun properti yang dibutuhkan masyarakat dan memberikan berbagai kemudahan kepada pembeli.

Salah satunya, lanjutnya, adalah gebrakan di awal tahun ini dengan meluncurkan The Golf Residence yakni hunian yang langsung menghadap lapangan golf di perumahan Kota Modern, Tangerang.

"Peluncuran perdana (launching) dilakukan Sabtu, 22 Januari 2011 di Kota Modern dan ini kesempatan langka. Pertama dan satu-satunya rumah yang langsung menghadap lapangan golf dengan harga yang sangat terjangkau," katanya.

Andy menyatakan, salah satu bentuk optimisme tumbuhnya pasar properti tersebut antara lain dibuktikan ketika The Golf Residence diluncurkan, dalam waktu hanya tiga jam, sudah terjual 85 persen senilai Rp125 miliar," katanya.

The Golf Residence sendiri, kata Andy, hingga saat ini menelan investasi sebesar Rp150 miliar.

The Golf Residence dibangun di atas lahan seluas 4,5 hektare dan letaknya di padang golf modern island`s yang akan dibangun sebanyak 123 unit rumah. Namun, pada tahap pertama akan dipasarkan 62 unit untuk tahap pertama.

"Biasanya, untuk memiliki rumah yang tepat berada di sekeliling lapangan golf membutuhkan dana yang sangat besar, karena minimal tanah yang dijual sekitar 1.000 meter. Nah, kami menghadirkan The Golf Residence dengan harga di bawah Rp1,5 miliar, fantastis kan?," kata Andy.

Ada empat tipe rumah yang ditawarkan. Pertama, tipe 8 dengan luas tanah 160 m2 dan luas bangunan 142 m2 yang mempunyai jumlah kamar 3 + 1 serta luas kamar 4 x 3,75 meter (kamar utama). Kedua, tipe 9 dengan luas tanah 180 m2 dan luas bangunan 150 m2 yang mempunyai jumlah kamar 3 + 1 serta luas kamar 5 x 3,75 meter (kamar utama).

Ketiga, tipe 10 yang mempunyai dua tipe yakni dengan luas tanah 200 m2 dan luas bangunan 177 m2 yang mempunyai jumlah kamar 4 + 1 serta luas kamar 4 x 4 meter (kamar utama) dan satu lagi luas tanah 220 m2 dan luas bangunan 177 m2 yang mempunyai jumlah kamar 4 + 1 serta luas kamar 4 x 4 meter (kamar utama).

Keempat, tipe 11 dengan luas tanah 264 m2 dan luas bangunan 249 m2 yang mempunyai jumlah kamar 4 + 1 serta luas kamar 5 x 5 meter (kamar utama).

The Golf Residence dilengkapi fasilitas pendukung antara lain children play ground, sport club, kolam renang, gajebo, barbeque park, basket 3 on 3, taman reflexy dan jogging track yang view-nya langsung ke lapangan golf sehingga mata serasa dimanjakan dengan indahnya rerumputan nan hijau.

Itu, belum termasuk fasilitas lainnya yang sudah ada di Kota Modern seperti Padang Golf Modern (18 hole & night golf), Sport Club (Badminton, Tennis Indoor, Swimming Pool, Fitness Centre, Aerobik, Squash, Table Tennis, Basket Ball, Futsal, dll), Metropolis Town Square (Mal terbesar & terlengkap di Tangerang), Rumah Sakit Mayapada, Sekolah Harapan Bangsa & BPK Penabur, restaurant, dll.

Lokasi The Golf Residence yang strategis yakni di jantung kawasan perumahan Kota Modern seluas 470 ha yang saat ini sudah dihuni lebih dari 4.000 kepala keluarga (KK). Dari total lahan yang ada, saat ini tersisa sekitar 50 Ha.

Sisanya terus dikembangkan secara bertahap dan rencananya disebut-sebut, PT Modernland Realty Tbk. akan menggarap Kota Modern Extention (Kota Modern tahap ke-2).

Jalan akses Menyinggung soal jalan akses, kata Andy, pihaknya menjamin, kawasan ini memiliki lima akses yakni Tol Merak, Tol Bandara Sedyatmo, jalan Raya Daan Mogot, Jalan Raya Serpong, dan Jalan Cipondoh Raya. "Jika menggunakan kendaraan pribadi, waktu tempuh ke Bandara Soekarno Hatta hanya 10 menit," katanya.

Sementara itu, akses tol menuju bandara Soekarno Hatta segera dibangun. Pembebasan lahan sepanjang 14 Km akan dimulai tahun ini dan pembangunan di perkirakan dimulai tahun 2012. Akses tol menuju bandara tersebut akan melewati kawasan Kunciran, Cipondoh, dan Benda.

"In-Out tol tersebut akan berada dalam kawasan Modern Extention sehingga akan membuat perkembangan dan pertumbuhan bisnis yang sangat luar biasa terutama pada Kota Modern, yang tentu saja akan membuat nilai investasi properti di Kota Modern menjadi sangat tinggi," katanya. Source: Antara