SINGAPORE (Sept 8): OCBC is maintaining its “buy” on CapitaLand with an unchanged fair value estimate of $4.13 after reporting it is investing $300 million in Indonesia, SouthEast Asia’s largest economy.

Meanwhile, CapitaLand says the group’s first integrated development in the country, The Stature Jakarta, is on track to complete in 2020, at a total development cost of $220 million.

The developer will further expand its Indonesian presence by investing in a 192-unit serviced residence, Ascott Sudiman Jakarta, through The Ascott.

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