PremierInsight: KAI targets to obtain Rp18tn of bank loan by November 2017
Friday, July 21, 2017       09:33 WIB

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PT Kereta Api Indonesia (KAI) targets to obtain Rp18tn of bank loan by November 2017 in order to pay Adhi Karya ( IJ; Rp2,180; Buy) as LRT contractor. The bank loan will then be disbursed in stages and according to the progress. As such, Transportation minister has set first LRT project value to reach Rp21.7tn for the construction. (Bisnis Indonesia)
 Comment: This is positive for if KAI to pay according to the progress. Company targets to reach revenue of Rp14.4tn with LRT to contribute up until Rp5tn, while FY17 net profit is expected at Rp505bn. This is inline with our forecast. Maintain BUY at TP of Rp2,500. 
Sumber : IPS RESEARCH

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