Gallant Venture – Huge land bank @Bintan may be re-rating factor

Gallant Venture is a commercial developer, integrated master planner and manager for industrial parks and resorts in Batam and Bintan. Based on its annual report 2013, it has the backing of key shareholders such as Salim (74.5%) and Sembcorp Industries (12.0%). As of 30 Apr 14 closing price at $0.300 Gallant’s market cap is S$1.45b. Notwithstanding its large market capitalization, there is no analyst coverage. There are some key factors which cause me to take a closer look at Gallant now. 1.     Huge land bank in Bintan totaling 18,000 hectares Gallant has significant land bank in Bintan totaling approximately 18,000 hectares. According to Gallant’s company website, the land […]