Kategori: Infrastructure Transportation

Management of Waskita Karya, Tbk (WSKT IJ) has stated that the company will allocate IDR1.5Trn of capex for 2015 that will come from bond issuance. WSKT will issue IDR1.5Trn of bond by March or April 2015. Most of the bond will fund toll-road project and some will be used for property projects. Management has to.

We expect 3Q14 earnings to be lower than the 2Q dragged by lower utilization rate which we expects below 70%. We see 1.) Major O&G projects are experiencing continous delays, 2.) More intense competition, 3.) Fall in oil price has led to a delay on earning’s reflection from its strong fundamentals. We downgrade call from.

It’s not been good. 3Q14 was quite low especially on higher-tier, would be the worst announce week. Big vessels off. 4Q14 might be a bit better than 3Q14 but not as good as 1H14, because of short-term contracts started. Rates outlook? Below 1x – more competition. Chevron IDD some news they are postponing their work. Chevron.

We just visited Wijaya Karya Beton’s (WTON IJ, BUY, TP: IDR1,260) recently acquired precast company in Batam, PT Citra Lautan Teduh (CLT). WTON acquired 90% of the company in 10 September 2014 while Wijaya Karya had the remaining 10% for a total of USD23.5m. CLT currently has a design capacity of 100k tons of spun.

Company background RAJA is a gas distribution & transmission company with a market share of around 5% (based on my calculation) on the gas distribution business and is the largest non-SOE player in the gas distribution industry. It has a relatively similar business model compared to Perusahaan Gas Negara (PGAS IJ, BUY, TP: IDR6,600) only.

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%.

PT Telekomunikasi Indonesia (TLKM IJ, BUY, TP: IDR3,200) through its subsidiary of Telekomunikasi Indonesia International Australia Pty Ltd, acquired 75% of Contact Centres Australia (CCA) for AUD11 miilion. CCA is a business process outsourcing company (BPO) based in.

PT Telekomunikasi Indonesia (TLKM IJ, BUY, TP: IDR3,200) through its subsidiary of Telekomunikasi Indonesia International Australia Pty Ltd, acquired 75% of Contact Centres Australia (CCA) for AUD11 million. CCA is a business process outsourcing company (BPO) based in Sydney. On the other hand, TLKM also has developed a joint venture with Telstra Corporation Ltd for.

Management of Adhi Karya (ADHI IJ, BUY, TP: IDR3,745) announced that FY14F target new contract is revised down from IDR21trn to IDR15.2trn. This was due to several project delays as a result of the uncertainty from election, thus several project owners are waiting for the new cabinet to be formed. At the same time, management.

Management of PT Wijaya Karya (WIKA IJ, Neutral, TP: IDR3,100) announced that the company will be taking overseas projects where each project is estimated to worth ~USD100-200m. Several projects mentioned are: toll road project in Algeria and Timor Leste, High rise project in Myanmar & Arab Saudi, and mall project in Kuching, Malaysia. The company.