PT XL Axiata Tbk (EXCL, Rp 6,000, BUY, TP Rp 6.900) to Realize IDR 1.31 trillion sale of treasury stock. EXCL will sell 231.11 million treasury shares (2.7% of the total shares owned by the company) worth IDR 1.31 trillion, with an average price per share Rp 5.708. The gain is estimated at around IDR 98 billion and will be used for business expansion. (Kontan)
PT Alam Sutera Realty Tbk (ASRI, 500, NEUTRAL, TP Rp 680) to focus on completion of two office building projects. ASRI said it will focus on the completion of two office projects (The Tower and The Prominence) and will not start a new project until the end of this year. Another project that has been running by ASRI is Silk Victorian cluster, Superblock City of Ayodhya, and Garuda Wisnu Kencana. (Kontan)
Ciputra to work on projects valued at IDR 4.2 trillion offices. PT Ciputra Property Tbk (CTRP, Rp 745) works on four office projects worth 4.2 trillion starting 2014 and will be completed within 3 years. All four are in South Jakarta, West Jakarta and Central Jakarta. The area of the project is expected to reach 410,000 square meters. (Investor Daily)
PT Waskita Karya Tbk (WSKT, Rp 910, NEUTRAL, TP Rp 600) set aside 3 trillion to work on the highway Legundi-Bunder in East Java who entered the bidding process. Through its subsidiary, PT Waskita Toll Road, WSKT already established a joint venture called PT Waskita Earth Legundi. (Investor Daily)
for Indonesia Market Summaries 2 September 2014
Showing posts with label PT Waskita Karya Tbk. Show all posts
Showing posts with label PT Waskita Karya Tbk. Show all posts
Tuesday, September 2, 2014
Friday, July 19, 2013
The feasibility study of Sunda Strait Bridge Project involving five SOEs contractors
The feasibility study of Project of Sunda Strait Bridge (SSB) / Jembatan Selat Sunda (JSS) will involve five SOEs contractors.
They are:
SOE Minister, Mr Dahlan Iskhan said that the five contractors are still waiting for the official designation from the government and hope there will be more state-owned enterprises that will support the project consortium which will work closely with project managers, PT Graha Banten Lampung Sejahtera. The government assessed that the decision to lead the project is still at discussion stage.
for Indonesia Market Summaries
They are:
- PT Adhi Karya Tbk (ADHI)
- PT Hutama Karya (HK)
- PT Wijaya Karya Tbk (WIKA)
- PT Waskita Karya Tbk (WSKT
- PT Pembangunan Perumahan Tbk (PTPP).
SOE Minister, Mr Dahlan Iskhan said that the five contractors are still waiting for the official designation from the government and hope there will be more state-owned enterprises that will support the project consortium which will work closely with project managers, PT Graha Banten Lampung Sejahtera. The government assessed that the decision to lead the project is still at discussion stage.
for Indonesia Market Summaries
Monday, July 15, 2013
PT Waskita Karya Tbk absorb 77% funds
PT Waskita Karya (Persero) Tbk (WSKT) obtained the effective date of an initial public offering (IPO) on December 19, 2012. Through the event, WSKT collected fresh money worth Rp 1.14 trillion.
Indonesia Market Summaries based on information from disclosure of Indonesia Stock Exchange (IDX) on Monday (15/7), the proceeds from the IPO issuers still remaining Rp 257.54 billion. In other words, WSKT absorb 77% or equivalent to Rp 879.74 billion.
The details of the actual use of funds is, Rp 170.59 billion will be used for the production of Betan precast, then valued at USD 25 billion allocated to equity highway construction projects, and Rp 1.78 billion will be used for property development. And Rp 682.37 billion, will be used for working capital. Today, the stock of WSKT currently exist at the level of 740. This figure is up 3% or 20 points higher than the level in the previous trade, 720.
for Indonesia Market Summaries
Indonesia Market Summaries based on information from disclosure of Indonesia Stock Exchange (IDX) on Monday (15/7), the proceeds from the IPO issuers still remaining Rp 257.54 billion. In other words, WSKT absorb 77% or equivalent to Rp 879.74 billion.
The details of the actual use of funds is, Rp 170.59 billion will be used for the production of Betan precast, then valued at USD 25 billion allocated to equity highway construction projects, and Rp 1.78 billion will be used for property development. And Rp 682.37 billion, will be used for working capital. Today, the stock of WSKT currently exist at the level of 740. This figure is up 3% or 20 points higher than the level in the previous trade, 720.
for Indonesia Market Summaries
Monday, April 29, 2013
Waskita Karya First Quarter 2013 Results Net Earnings
Waskita Karya (WSKT) 1Q13 net earnings came at Rp5.4bn, a significant increase from 1Q12 net earnings of only Rp632mn. The increase in net earnings was mainly attributed by 18.8% yoy growth in revenue; 140bps gross margin improvement and 29.7% yoy decline in interest charges (as company started utilized IPO proceed). The 1Q13 achievement (1.7% of FY2013) was in line with the past 2 years figures (0.2% and 1.2% 1Q contribution in 2012 and 2011).
1Q13 revenue was at Rp957.4bn, or 18.8% yoy growth from Rp806.1bn. 1Q13 revenue achievement equals to 8.9% of FY13 revenue (consistent with the 1Q number in past two years, 9.2% and 9.8% in 2012 and 2011, respectively). We expect that the company should be able to book most part of the revenue in 2nd semester of the year as government projects are normally being tendered at that time.
1Q13 gross margin (10.3%) was improved by 140bps compared to the same period last year (FY12 and FY13 gross margin were at 8.3% and 9.1%, respectively). Margin improvement was due to company’s effort to be selective on sizeable and high margin projects .
New contract secured during 1Q13 period was Rp3.3tn (our FY2013 new contract target is at Rp12.5tn). We are comfortable with the achieved new contract and some upside may be existed as more government projects will be tendered in the 2nd half of the year.
We are currently in the process of reviewing our recommendation for the counter. WSKT is currently trading at 23.0x 2013PE and 16.9x 2014PE.
Indonesia Market Summaries, April 29 2013
1Q13 revenue was at Rp957.4bn, or 18.8% yoy growth from Rp806.1bn. 1Q13 revenue achievement equals to 8.9% of FY13 revenue (consistent with the 1Q number in past two years, 9.2% and 9.8% in 2012 and 2011, respectively). We expect that the company should be able to book most part of the revenue in 2nd semester of the year as government projects are normally being tendered at that time.
1Q13 gross margin (10.3%) was improved by 140bps compared to the same period last year (FY12 and FY13 gross margin were at 8.3% and 9.1%, respectively). Margin improvement was due to company’s effort to be selective on sizeable and high margin projects .
New contract secured during 1Q13 period was Rp3.3tn (our FY2013 new contract target is at Rp12.5tn). We are comfortable with the achieved new contract and some upside may be existed as more government projects will be tendered in the 2nd half of the year.
We are currently in the process of reviewing our recommendation for the counter. WSKT is currently trading at 23.0x 2013PE and 16.9x 2014PE.
Indonesia Market Summaries, April 29 2013
Friday, March 15, 2013
Waskita Karya reports Soaring Profits
Revenues up 21%, Waskita Karya reports Soaring Profits
PT Waskita Karya Tbk posted net income amounted to Rp 254,03 billion during 2012, up 47.7% from the performance of 2011, Rp 171,99 billion.
Along with that, earnings per share rose to Rp 38 per share from the previous year, Rp 9,56 per share.
Based on the company's financial statements as of 31 December 2012 which was released today, Friday (03/15/2013), net earnings performance was driven by revenue growth of 21.09% to Rp 8,81 trillion from the previous year Rp 7,27 trillion.
The company recorded a net profit margin rose 21.98% to 2.88% from 2.36% the previous year.
Unfortunately, the cost of revenue is large enough, Rp 8,08 trillion, up 21.09% from the previous year Rp 6,61 trillion. Profit before tax was recorded Rp 459,91 billion, up 38.6% from 2011 performance of Rp 331, 83 billion. (Bisnis Indonesia)
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