Wika Beton new contracts reached 40% ytd

Wijaya Karya Beton (WTON IJ, NR) has obtained additional IDR223bn of new contracts in this month. That will make total contracts obtained ytd to reach IDR1.3trn or 40% from target FY14F. Including carryover of IDR1.6trn, WTON is targeting IDR2.9trn of orderbook in this year.

Wika Realty, subsidiary of Wijaya Karya (WIKA IJ, BUY, TP: IDR3,000) is planning to go public by 2015 or the latest by 2016. Currently the company is focusing on property projects as well as hotel businesses. Wika Realty targets IDR1.38trn of revenue during FY14F and will allocate IDR600bn for capex.

Wijaya Karya (WIKA IJ, BUY, TP: IDR3,000) is targeting IDR1trn worth of Algerian toll road project. The company is conducting a due diligence process with the local contractor. WIKA will also provide management services for Timor Leste’s road development project, the project is worth IDR7trn.