PT Bakrieland Development (ELTY) Tbk, property arm of Bakrie Group, booked net profit of Rp68.5 billion in the first quarter ended March 31, 2014, crashed by 78% from the corresponding period of 2013. Telecommunication giant PT Telkom (TLKM) Tbk, meanwhile, expands its property business with the construction of four-star hotel in Makassar, South Sulawesi.

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