PT Lippo Karawaci Tbk (PTLKF)

PT Lippo Karawaci Tbk (PTLKF) — VMCI valuation read

Headline read on PTLKF: VMCI of 46/100 versus a Real Estate sector median of 50. The 4-point below-median position is what makes PT Lippo Karawaci Tbk a relative-value laggard in the mid-cap cohort, before any pillar-level review.

Form 4 filings on PTLKF: zero in the trailing 30 days. The absence of insider transactions is itself a data point, just a low-information one. The thesis runs on financials and price action until that changes.

**Investor frame.** Three reads on PTLKF: value (PTLKF trades at 23.0x earnings, 28% above the Real Estate median of 18.0x), quality (ROIC of 11.0% sits 1.0pp above the Real Estate median (10.0%)), and risk (net debt to EBITDA of 0.6x leaves covenant headroom). The value read also implies an EV/EBITDA gap of +4.0x against the Real Estate 12.0x baseline.

PTLKF rose 3.4% over the trailing 7 days, with a -5.9% read on a 30-day basis.