Premiere Insight : WSBP, targets new contract of Rp10.5tn (vs. prior: Rp12.3tn) and Rp11.5tn in FY17 and FY18.
Friday, December 15, 2017       09:37 WIB

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Waskita Beton Precast ( IJ; Rp374; Buy) targets new contract of Rp10.5tn (vs. prior: Rp12.3tn) and Rp11.5tn in FY17 and FY18. revised FY17 target due to delay on two projects, Probolinggo-Banyuwangi (Rp2.5tn) and Penajam-Balikpapan (Rp1tn) tollroad which will be booked on 2018. Holding contribution () is expected to still dominate 's new projects with around 65-75% total new contract in FY18. In addition, still has total carryover for FY18 of Rp13.3tn. will have total capex or Rp750bn for FY17, which will be used for precast capacity expansion (Rp600bn), quarry (Rp80bn), and equipment & supporting facilities (Rp70bn). (Bisnis Indonesia).
 Comment: We will review our forecast given lower contract achievement and revised FY17 contract target. However at this stage, maintain Buy on with TP 620. 

Sumber : IPS RESEARCH

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