Search result for: "Pertamina"

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.

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.

Leveling up the consumer boom Indonesia’s continuously robust economic growth with strong structural platform has translated to strong GDP growth and rising income levels that boosted demand for consumer product. Petrochemical industry that supplies chemicals products for packaging, construction, agriculture, textiles, electronics as well as consumer goods would be definitely a key beneficiary of the.

We upgrades by 6% our earnings target for 2011 to IDR153bn (+44% y-o-y) on the back of a share of net income from its associate Fast Offshore Supply (Singapore) amounting to IDR24bn (based on the company’s guidance). We like WINS’ efficient spending of its 2011 capex on vessel expansion this year (12 added vessels) as.