Kategori: Infrastructure Transportation

We initiate coverage on Link Net, a leading cable broadband and pay TV services provider with networks in affluent areas, with a BUY and DCF-based IDR6,250 TP (20% upside), implying 30x/23.2x FY15F/FY16F P/Es. It is in a significantly advantageous position to benefit from the internet boom in Indonesia as it could bank on rising wealth,.

We initiate coverage of Link Net (LINK) with a BUY call and a DCF derived TP of IDR6,500, implying a 27x/21x FY15F/16F P/E. Link Net is one of the leading providers’ of cable broadband and pay TV in Indonesia with a network in affluent areas. As a leader in Broadband internet industry, LINK has a.

Inovisi Infracom (INVS IJ, Not Rated) plans to spend Rp 1.2 trillion in 2015 to build two power plants in West and North Sumatra, through its unit QDC Technologies. QDC Technologies will construct hydropower plants in Pasaman, Batu Lunak, West Sumatra with capacity at 30 megawatts (MW) to 40 MW, for a cost of IDR1.

Wijaya Karya (WIKA IJ, Neutral, TP: IDR2,930) achieved IDR13.9trn of new contracts in 11M14. This achievement was 53.81% from management’s guidance of IDR25.83trn. Management also stated that there were several projects delay that results in the reduction of FY14 capex allocation from IDR1.99trn to IDR1.3trn. Meanwhile, the company allocates IDR1.7trn capex for FY15, where IDR600bn.

Adhi Karya, Tbk (ADHI IJ, Neutral, TP: IDR2,720) has booked IDR6.3Trn of new contracts in 11M14 that consist of building projects (59.4%), roads & bridges (21.1%), and other infrastructure projects. Most of its projects were still dominated by private projects (43.1%), while the Government portion was at 42.2%, and SOE portion was 14.5%. ADHI’s management.

Shareholders of Lautan Luas (LTLS IJ, Not rated) has approved the company’s plan for stock split 1:2. In effect, total shares outstanding will increase from 780m shares to 1.56bn shares. This action is done to increase liquidity to the market. On another matter, the company will be focusing on 3 main projects in 2015 namely.

Jasa Marga (JSMR IJ, Not Rated) is allocating IDR4trn for 2015 capex where 75% will come from internal cash and the rest will be bank loans. The funds will mostly be used for toll roads development while only a small portion will be allocated for its property subsidiary. Management targets FY15 revenue to reach IDR8trn.

We recently visited Samudera Indonesia (SMDR IJ, Not Rated) here are the key takeaways: The company is an integrated logistic & cargo company that serves international & domestic market, Samudera has 18 subsidiaries that is divided into 3 categories; Shipping, Logistics, and Agency & Terminal, the largest contributor of revenue for the company comes from.

Waskita Karya, Tbk (WSKT IJ) will ramp upped the acquisitions of 60% Kresna Kusuma Dyandra Marga (KKDM) before the end of this year. KKDM is the concession holder ofBekasi-Cawang-Kampung Melayu toll road segment. Afterwards, the company will participate in relaunching the toll segment by allocating IDR3.9Trn for 11 Km section 1 development. The toll road.

Management of Wijaya Karya Beton (WTON IJ, Neutral, TP: IDR1,135) is positive that the company will benefit from the upcoming maritime projects. Therefore, the company targets FY15 revenue and net income to reach IDR4trn & IDR350bn respectively. These will be supported by the existing and new plants. As per October, the company has new contracts.