Food and property arm of Sinarmas Group, AFP, reported net profit of S$153.46 million last year, inched up 0.4% from 2008 despite a strong 40.3% growth in operating profit. Last Thursday, crossing of 1.77 billion shares in its unit PT Bumi Serpong Damai (BSDE) Tbk, cut the stock substantially by 21.8%.

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