Wika Beton Targets Maritime Projects

Management of Wijaya Karya Beton (WTON IJ, Neutral, TP: IDR1,135) is positive that the company will benefit from the upcoming maritime projects. Therefore, the company targets FY15 revenue and net income to reach IDR4trn & IDR350bn respectively. These will be supported by the existing and new plants. As per October, the company has new contracts of IDR2.22trn.The company’s FY15 targets are in-line with our estimates. We also believe that any upcoming infrastructure projects will benefit the company (including maritime projects). One of the projects that have potential for the company is the Giant Sea wall.