We are re-initiating coverage on the construction sector with an OVERWEIGHT for the following reasons: i) valuations are reasonable compared to regional players, ii) the government’s infrastructure projects are expected to accelerate earnings growth, iii) there are lower risks in executing projects, as laws will be enforced, iv) the property market’s outlook is solid for.
Read More...We are re-initiating coverage on the construction sector with an OVERWEIGHT for the following reasons: i) valuations are reasonable compared to regional players, ii) the government’s infrastructure projects are expected to accelerate earnings growth, iii) there are lower risks in executing projects, as laws will be enforced, iv) the property market’s outlook is solid for.
Read More...MEDC possesses expansive O&G upstream assets portfolio in both domestic and international markets Its assets span beyond Indonesian blocks to sites in USA, Libya, Yemen, and Oman. MEDC also engages in downstream businesses, renewable energy, power generation and recently coal mining. We view MEDC’s recent cost leadership, production initiatives, and diversified portfolio in energy-related businesses.
Read More...ASRI remains one of our top pick, given: (i) its strong future growth and profitability, (ii) the successful launch of its second project, “Suvarna Padi” in Pasar Kemis, and (iii) its grand plan to acquire more land in Bali and Jakarta. Our TP of IDR600 was derived by applying a lower discount of 25% to.
Read More...WHAT’S BREWING? Wintermar Offshore Marine (WINS) issued several announcements over the past 1 month, which are i) ordered a platform supply vessel (PSV) for deepwater drilling support, ii) plans to gradually sell off 38 older vessels, and iii) obtained a USD27m loan from Bank Mandiri. We believe strong support from the cabotage ruling has enabled.
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