Wintermar Offshore Marine (WINS) plans to have a non pre-emptive rights issue via convertible bonds and ordinary shares amounting to 340m shares, which is 9.56% of its enlarged equity. The convertible bonds issuance amounts to IDR95bn (IDR500/share; 190m shares) while the new shares amounting to IDR69bn (at least IDR461/share; 150m shares), bringing total funds of.
Read More...1Q12 net profit reached IDR39bn (+51.4% q-o-q; -12.7% y-o-y), accounting for 24% and 21% of our and consensus estimates respectively. Wintermar Offshore Marine, Tbk (WINS IJ) revenue, operating and pre-tax level are all in line to our and consensus estimates. We upgrade our earnings by 28% and 36% for 2012 and 2013 respectively to factor.
Read More...COMPANY PROFILE Owned by the Layanto family, Wintermar Offshore Marine, Tbk (WINS IJ) has been providing upstream services for the oil and gas sector for more than 40 years. It was established under the name of Swakarya Mulia Shipping in 1995 and subsequently changed its name to WINS. In that year, WINS won its first.
Read More...Big purchases delayed until 2012, yet 2011 earnings intact Based on our conversation with Wintermar Offshore Marine (WINS IJ), we expect the company to postpone the purchase of two high-end vessels in 4Q11 to 1Q12. These are anchor-handling tug supply-type (AHTS) vessels which enable WINS to command tariffs that are 20x higher than those for.
Read More...EXCL Poised Excel Further. XL Axiata, Tbk (EXCL IJ) remains our top pick for exposure to Indonesian telecoms given. First, its strong management/operational execution. Second, the still-robust prospects within the telecoms sector on a proliferation of cheap and attractive low-priced handsets amid rising take-up of small screen access. Link Net Simply the best Shelf Registration.
Read More...
