Search result for: "Pertamina"

Executive Summary “Logindo Sukses Makmur (Logindo) is expected to book net profit CAGR of 83% for the three years to 2014, spurred by strong fleet expansion to higher tier vessels. The group has a relatively young fleet age and lucrative margins. Its strong track record with well-known O&G companies is a precursor for greater things.

PGAS’ long-term outlook remains bright despite concerns over its short-term gas supply and it is well positioned to venture into other gas-related businesses, as well as undertake upstream takeovers. We maintain our BUY call, with DCF-based IDR6,000 TP unchanged, on its defensive characteristics and project diversification visibility, which is aligned with the strengthening of its.

The earnings of Wintermar Offshore Marine, Tbk (WINS IJ), a leading Indonesian OSV player, have risen consistently since its Nov 2010 IPO. It has beaten the JCI by 40% since the market peaked on 20 May 2013, buoyed by its sturdy fundamentals. As its 9M13 earnings beat our estimate, we expect alluring double-digit earnings growth.

PGAS’ long-term outlook remains bright despite concerns over its short-term gas supply and it is well positioned to venture into other gas-related businesses, as well as undertake upstream takeovers. We maintain our BUY call, with DCF-based IDR6,000 TP unchanged, on its defensive characteristics and project diversification visibility, which is aligned with the strengthening of its.

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.

Wintermar Offshore Marine, Tbk (WINS IJ) 9M12 net profit reached USD14m (+29.4% y-o-y) mainly derived from higher owned-vessel revenue proportion of 56% in 9M12 which is higher compared to 44% contribution in 9M11. We have not translated our financial model into USD currency yet, however we believe the 9M12 results is relatively in line with.

We re-instate coverage on Wijaya Karya (WIKA) with a strong BUY and IDR1,600 TP, reflecting a potential 16% upside from its current price. As we roll over our valuation to FY13, we base this TP on a 14.6x target PER over its FY14 EPS. The company’s long-standing relationship with state oil & gas company Pertamina.

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.

Company background Wintermar Offshore Marine (WINS) is owned by the Layanto family and has been providing upstream services for the oil & 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.

Company background. WINS is owned by the Layanto family and has been providing upstream services for the oil & gas sector for more than 40 years. The company was legally established under the name of Swakarya Mulia Shipping in 1995, and then the company changed its legal name to Wintermar Offshore Marine. In the same.