BKSL Free from Lawsuit, Share Price Set to Rise Again
BKSL Free from Lawsuit, Share Price Set to Rise Again
Jakarta, CNBC Indonesia - Property issuer PT Sentul City Tbk (BKSL) announced yesterday, Thursday (25/2/2026), that it has been officially cleared of the bankruptcy lawsuit.
This certainty is a significant turning point for the company after it was previously overshadowed by legal proceedings related to the cancellation of the peace agreement (homologation).
Based on the decision of the Central Jakarta District Court, the request for revocation of the case filed by the plaintiff, Eddon Pratama Wijayaputra, has been granted.
As a result, the legal process that previously had the potential to disrupt BKSL’s business continuity has been officially stopped.
BKSL management stated that the company has fulfilled all obligations as stipulated in the peace agreement that has been ratified by the court. This commitment includes the settlement of obligations in the Debt Restructuring (PKPU) scheme, which was previously the focus of the market.
From a fundamental perspective, the company has also reportedly strengthened its financial position. Cash strengthening was carried out through the settlement of PKPU arrears, which was supported by funding facilities and a number of strategic transactions with external partners, including cooperation with the Genting Group.
This legal certainty immediately received a positive response from market players. BKSL’s shares recorded an increase of 4.38% yesterday, Wednesday, to Rp143 per share, after the official announcement regarding the revocation of the lawsuit.
This sentiment reflects investor optimism that the legal risks that previously overshadowed the company have now subsided.
Speaking of business, BKSL’s narrative is inseparable from the development of the BIOTOWN project.
BIOTOWN is an integrated area developed as the first health city in Indonesia. More than just a property project, BIOTOWN is built as a comprehensive health ecosystem that relies on five main pillars: medical services, care, pharmaceuticals, science, and medical devices. Through this concept, BKSL not only markets land but also presents an area with high added value that is integrated into a single ecosystem.
The KEK (Special Economic Zone) status, which is currently being applied for, is also projected to be a major accelerator, as it will open up opportunities for fiscal incentives, investment facilities, and attract global players in the health industry.
BKSL is also exploring new growth lines through expansion into the renewable energy sector. Through its subsidiary, PT Sentul City Green Energy, the company has begun developing a Solar Power Plant (PLTS) project, including the provision of solar panels, inverters, and energy storage systems (Battery Energy Storage System/BESS).
In addition, BKSL also recorded one of the important catalysts through the release of assets in the form of 152 hectares of land to PT Genting Properti Abadi with a transaction value reaching Rp2.05 trillion. Interestingly, this large-scale corporate action was carried out without involving an independent appraiser.
According to management, the area will be developed as a connecting access between Sentul City and the Puncak II route.
On the other hand, Genting also plans to build various supporting facilities, ranging from golf courses, residential areas, to commercial areas. As of November 2025, the administrative process of the transaction is said to have entered the finalization stage.
From a valuation perspective, the selling price of the land is considered premium, at around Rp1.35 million per square meter. This figure is far above the book value of the assets, which is only around Rp11.4 billion.
With this significant difference, BKSL has the potential to record a surge in revenue from the disposal of assets in the Q4/2025 or Q1/2026 financial statements, with the potential contribution even exceeding the company’s average revenue so far.
This optimistic narrative has also had a real impact on profit performance. As of September 2025, BKSL recorded a net profit of around Rp96 billion, soaring more than five times compared to the achievement of around Rp17 billion in the same period last year.
From a quarterly performance perspective, indications of recovery began to be seen strongly in Q3/2025, when the company managed to reverse from a loss of Rp46 billion in Q3/2024 to a profit of Rp57 billion in Q3/2025. Furthermore, throughout the quarters that have passed in 2025, BKSL has consistently recorded positive performance by recording profits successively.
Disclaimer: This article is a journalistic product in the form of CNBC Indonesia Research’s views. This analysis is not intended to encourage readers to buy, hold, or sell related investor products or sectors. The decision is entirely up to the reader, so we are not responsible for any losses or profits arising from that decision.
CNBC INDONESIA RESEARCH
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