Cowell Development (COWL) is a small property developer with total assets of Rp465 billion and equity of Rp204 billion as of September 30, 2012. This company, however, generated net profit of Rp43.8 billion in nine months of 2012. It recently made headlines for its plan to acquire PT Plaza Adika Lestari, developer of Atrium Senen in Central Jakarta.

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