Search result for: "PTPP"

PT PP Property (Persero), Tbk (PTPP IJ), company’s main business in building and infrastructure (road and bridge, port, power plant, irrigation) construction, launches its nine new project until 2018. Meanwhile, four apartment project to be launched in 2018, they are: Apartments in Paragon Semarang, Kertajati, Yogya, and Cibubur. Company also continues its existing lands, such.

PT Pembangunan Perumahan (Persero), Tbk (PTPP IJ), construction services and strategic investments company, injects fund worth IDR745bn to its subsidiary, PT Pembangunan Perumahan Energi (PPE). PPE will used the fund to invest in power plants by establishing a joint venture company PT Meulaboh Power.

PT Pembangunan Perumahan (PTPP IJ, Neutral, TP: IDR2,590) booked net income of IDR290bn (+32.9% y-o-y) while revenue reached IDR7.8trn (+7.6% y-o-y). On quarterly basis, 3Q14 net income jumped to IDR143bn (+91.6% y-o-y) and 3Q14 revenue reached IDR3.2trn (+4.1% y-o-y). Comment: The 9M14 earnings was above our expectation that made up 56%/54% from our/consensus full year.

Management of PT Pembangunan Perumahan (PTPPIJ, Neutral, TP: IDR2,590) has stated that the company reduced this year’s target new contract from IDR24trn to IDR22trn. This was done because several projects are experiencing some kind of delays and will resume next year. As of September, PTPP’s new contracts has reached IDR12trn or 50% from the initial.

PT Pembangunan Perumahan (PTPP IJ, Neutral, TP: IDR2,590) together with PT Pelabuhan Indonesia I (Pelindo I) and Waskita Karya (WSKT IJ, Not Rated) will form a joint venture of PT Prima Multi Terminal to operate Kuala Tanjung port in Medan, Sumatera that will have an estimated capital requirement of IDR580bn. Pelindo I will have 55%.

Management of PT Pembangunan Perumahan (PTPP IJ, Under Review) has announced that the company will build precast production facilities through subsidiary PT PP Pracetak. The investment will be around IDR200bn. The facilities will be built in Cilegon (West Java), Sadang (West Java), and Bakauhuni (Sumatera). Management expect the construction period will take about 2 years..

PT Pembangunan Perumahan (PTPP IJ, Under Review) will begin groundbreaking of the IDR20trn Grand Kamala Lagoon superblock project in Bekasi, West Java. The 25 ha superblock area is designed to have 25 apartment towers in the next 20 years. Other than that there are several more projects to come such as the groundbreaking for IDR5trn.

Pembangunan Perumahan, Tbk (PTPP IJ) will begin groundbreaking of the IDR20Trn Grand Kamala Lagoon superblock project in Bekasi, West Java. The 25 ha superblock area is designed to have 25 apartment towers in the next 20 years. Other than that, there are several more projects to come such as the groundbreaking for IDR5Trn Grand Sungkono.

PT Pembangunan Perumahan (PTPP IJ, Under Review) has finalized the IDR44bn acquisition of Prima Jasa Aldodua (PJA), a heavy equipment rental company. According to management, the acquisition was made to reduce dependency on third party heavy equipment rental. On the other hand, until 1H14 PTPP has booked IDR8.4trn of new contracts (-11.5% y-o-y) or 35%.

Throughout 1H14, PT Pembangunan Perumahan (PTPP IJ, Under review) booked IDR4.6trn of revenue (+10.2% y-o-y) and IDR147bn of net profit (+2.2% y-o-y). The results are in-line with our forecast as well as consensus’ where top line and bottom line account for 32% & 22% respectively from our FY14F projection (Vs. 31% & 27% from consensus)..