Waskita to Allocate IDR1.5Trn for 2015 Capex
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.
Read More...Wintermar Breaking The Pedals
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.
Read More...Wintermar Offshore Marine (WINS IJ) update
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.
Read More...Semen Indonesia to Add Capacity Starting 2016
PT Semen Indonesia (SMGR IJ, Neutral , TP: IDR18,150) will build additional production facility in Aceh, North Sumatra with estimated capacity of 3m tonnes. Management stated that the construction will begin in 2H15 or 2016 and the factory will cater to demand from Aceh, Riau, and its surrounding. On the other hand, the company also.
Read More...Wika Beton Site Visit Note
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.
Read More...PTPP Cuts Target FY14 New Contract to IDR22trn
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.
Read More...Rukun Raharja Company Visit (2014)
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.
Read More...TiPhone to acquire Simpatindo
PT TiPhone Mobile Indonesia (TELE IJ, BUY, TP:IDR1,000) is planning to acquires a distributor of electronic phone pulse voucher, PT Simpatindo Multi Media. The acquisition value is estimated at IDR500bn and will be commenced in 4Q14. The company also plans to prepare for cellphone assembly plant that will be located in Pluit, North Jakarta. Management.
Read More...PTPP & Waskita to Operate Port
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%.
Read More...Telkom Acquires Contact Centres Australia
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.
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