Tags: PTPP

Kabar duka kembali datang dari dunia penerbangan Malaysia, setelah Kamis sebuah pesawat milik Malaysian Airline MH17 jenis B 777-200 ER diduga ditembak jatuh oleh pasukan Rusia atau Separatis Ukraine dan jatuh menewaskan 295 penumpang diperbatasan Ukraine-Rusia

Jul 18, 2014 - Indo - 0 Comments - Standard

Kabar duka kembali datang dari dunia penerbangan Malaysia, setelah Kamis sebuah pesawat milik Malaysian Airline MH17 jenis B 777-200 ER diduga ditembak jatuh oleh pasukan Rusia atau Separatis Ukraine dan jatuh menewaskan 295 penumpang diperbatasan Ukraine-Rusia dimana ditembak jatuhnya pesawat MH17 memunculkan ketegangan global geopolitik baru terlebih Amerika Serikat baru kembali menerapkan sanksi ekonomi baru […]

PTPP and WSKT 1H14 new contract

Jul 17, 2014 - Indo - 0 Comments - Standard

PT Pembangunan Perumahan Tbk (PTPP) and PT Waskita Karya Tbk (WSKT) 1H14 new contract and PTPP revised. Investor Daily melaporkan bahwa PTPP dan WSKT membukukan kontrak baru, masing-masing sebesar Rp8,4 triliun dan Rp7 triliun. Dalam laporan berbeda, PTPP juga merevisi target laba setelah pajaknya (NPAT) dari Rp520 miliar menjadi Rp600 miliar (naik 15%). Menurut kami […]

Taking a leap of faith

Jul 10, 2014 - Indo - 0 Comments - Standard

The quick count indicates that Jokowi may have won the presidential election but Prabowo has not conceded. Uncertainty may prevail until the official results are announced, expected on 22 Jul. Our view is that the Jokowi win based on the quick count will stand. We expect the market to rally eventually, albeit cautiously at first. […]

Key questions if the surveys are right and Jokowi wins

Jul 10, 2014 - Indo - 0 Comments - Standard

Key questions if the surveys are right and Jokowi wins: 1. How long the honeymoon rally will last? Our view: Three weeks in 2004 when SBY win the election for his first term. Then fundamentals take over. Rising commodity prices continue to push JCI higher to +41% in six months until the negative sentiment from […]

PTPP: Well armoured

Jul 08, 2014 - Indo - 0 Comments - Standard

5M14 new contracts reached IDR6.63t (Unofficial 6M14: IDR8.4t), accounting for 30% (6M14: 40% of 12M14) of our full-year forecast of IDR22t. PTPP will be least affected by the recent government reduction in infrastructure spending, given it has the lowest exposure to government public work projects among other SOE contractors. This, coupled with PTPP having the […]

Rupiah is likely to weaken further and pose a risk to Indonesian macroeconomic stability if the election outcome does not satisfy investors

Jul 08, 2014 - Indo - 0 Comments - Standard

Rupiah is likely to weaken further and pose a risk to Indonesian macroeconomic stability if the election outcome does not satisfy investors. We expect exporters/USD earners and companies with very defensive business to be more resilient under this scenario. Investors that look to hedge against risk of depreciating IDR should BUY into PGAS, AALI, LSIP, […]

TINS will attempt next year to diversify business by exploring property business in Sumatra and Borneo

Jul 07, 2014 - Indo - 0 Comments - Standard

TINS will attempt next year to diversify business by exploring property business in Sumatra and Borneo. TINS will work with state-owned companies in the construction and property business lines namely WIKA, ADHI, WSKT, and PTPP. Looking ahead, TINS will have four business lines consisting of tin main business lines, business lines of non tin (mineral […]

PTPP will allocate Rp230bn (US$20m) capex to build 4 hotels this year

Jun 03, 2014 - Indo - 0 Comments - Standard

Pembangunan Perumahan (PTPP) will allocate Rp230bn (US$20m) capex to build 4 hotels this year. The aim of the move is to increase recurring income. The company will focus on three start hotel with Park Hotel and budget hotel with Pro Hotel. The 4 hotels will be located in Makassar, Lombok, Bali, and Semarang with target […]

Infrastructure project in Sumatra

Jun 02, 2014 - Indo - 0 Comments - Standard

Infrastructure project in Sumatra. Four SOE banks BBRI, BMRI, BBNI and BBTN to fund infra project in eastern coast of Sumatra with BBNI as the leader for syndicated loans. The banks will fund the 1,120km electricity transmition project together with some other regional banks. The project itself is worth US$10tn and 70% of which will be […]

What we like at the moment as news flow is still all about politics

May 23, 2014 - Indo - 0 Comments - Standard

In the last minutes, Golkar Party throw its support behind Prabowo Subianto, making Gerindra led coalition now control more parliament seats vs. PDI-P led coalition. This appears to be taken negatively by market, thus profit taking was seen in JCI after the announcement. While we are increasingly cautious in the near term, our concern is […]

Indonesia construction marketing takeaways

May 19, 2014 - Indo - 0 Comments - Standard

We recently met with over 35 clients in KL, SG, and HK with most of the investors had only invested in WIKA given it has the largest market cap, better liquidity, and proven management track record. Our top pick remains on PTPP as it has the second highest earnings visibility in the constructions sector with […]

PTPP 3M14 result is in line with ours and consensus estimate

Apr 29, 2014 - Indo - 0 Comments - Standard

PTPP membukukan laba bersih kuartal I/2014 sebesar Rp61 miliar, naik 44,3% YoY. Capaian itu 18% di atas estimasi Mandiri Sekuritas dan 23% di atas estimasi konsensus pelaku pasar (laba bersih kuartal I/2013 berporsi 10,1% dari capaian setahun 2013). Target Mandiri Sekuritas itu 4,7% di atas target konsensus. Meskin margin kotor perusahaan naik (karena beragamnya segmen […]

PTPP membukukan laba bersih kuartal I/2014 sebesar Rp61 miliar, naik 44,3% YoY

Apr 29, 2014 - Indo - 0 Comments - Standard

PTPP membukukan laba bersih kuartal I/2014 sebesar Rp61 miliar, naik 44,3% YoY. Capaian itu 18% di atas estimasi Mandiri Sekuritas dan 23% di atas estimasi konsensus pelaku pasar (laba bersih kuartal I/2013 berporsi 10,1% dari capaian setahun 2013). Target Mandiri Sekuritas itu 4,7% di atas target konsensus. Meskin margin kotor perusahaan naik (karena beragamnya segmen […]

Indonesian construction: Diminished Jokowi effect

Apr 14, 2014 - Indo - 0 Comments - Standard

Three stocks go to HOLD, with ADHI as only Buy; TOTL now a REDUCE Following a worse-than-expected parliamentary election outcome and given possible weaker government formation, which is required to push through reforms and policies, we are downgrading most of our construction stocks (exhibit 1). At this stage of the cycle, we think the three […]

Mitsui is reportedly pulling out from Rp22.7tn Kalibaru project

Apr 08, 2014 - Indo - 0 Comments - Standard

Mitsui is reportedly pulling out from Rp22.7tn Kalibaru project. Mitsui, salah satu konglomerasi terbesar di Jepang, sebelumnya berlaku sebagai operator tahap pertama proyek Terminal Kalibaru, atau New Tanjung Priok. PT Pembangunan Perumahan Tbk (PTPP) menjadi kontraktor utama dari proyek itu. Belum ada konfirmasi dari perusahaan terkait potensi penundaan proyek. Kementerian Perhubungan dan Kementerian BUMN dilaporkan […]

PTPP plan to add more exposure to private projects

Apr 04, 2014 - Indo - 0 Comments - Standard

PTPP plan to add more exposure to private projects. The company targets the split between private and government to be 60%:40%. The company has put up new rule to only accept project above Rp100bn to increase its profitability.

Three SOE banks prepare Rp7t (US$609m) lending to fund Rp10tn (US$869m) construction of a 500kV electricity transmission along the East coast of Sumatra

Apr 04, 2014 - Indo - 0 Comments - Standard

Three SOE banks prepare Rp7t (US$609m) lending to fund Rp10tn (US$869m) construction of a 500kV electricity transmission along the East coast of Sumatra. The 5 major SOE contractors (ADHI, WIKA, PTPP, WSKT and Hutama Karya) will construct the project and lending will be disbursed under a syndicate of banks Mandiri, BNI and BRI. The project […]

Key snapshots from PTPP CEO, Bambang Triwibowo

Apr 04, 2014 - Indo - 0 Comments - Standard

Pada minggu ketiga Maret, PT Pembangunan Perumahan Tbk (PTPP) telah mengamankan kontrak baru senilai Rp3,55 triliun (atau 14% dari target kontrak baru FY2014). Beberapa kontrak baru terbesar adalah Mall Sawangan, Depok (Rp896 miliar), Coal Terminal Kutai, Kalimantan Timur (Rp776 miliar) dan Wang Residence Citicon, Jakarta (Rp400 miliar). PTPP berencana menggenjot bisnis propertinya pada awal 2015. […]

The defining moment

Mar 20, 2014 - Indo - 0 Comments - Standard

We held a conference call with Mr. Eep Saefulloh Fatah, founder of PolMark Indonesia, on his view with regards to the upcoming parliamentary and presidential elections. He believes that the election will be conducted peacefully and will not be much of a policy risk. While the market seems to share Mr. Fatah’s enthusiasm, the rally […]

PTPP has received a new contract valued at Rp 2.7tn

Mar 19, 2014 - Indo - 0 Comments - Standard

PTPP has received a new contract valued at Rp 2.7tn, equivalent to 11.3% of the total target of new contracts in 2014 amounted to Rp 24tn by mid-Mar14. PTPP incorporated by a consortium of PP-Odira-ADCOMP has completed the development of compressed natural gas storage plant in Muara Tawar, Bekasi. Working capital or capex is targeted […]

SOE consortium will invest Rp60tr (US$5bn) to build electricity system in Sumatra

Mar 11, 2014 - Indo - 0 Comments - Standard

SOE consortium will invest Rp60tr (US$5bn) to build electricity system in Sumatra. The SOE includes PLN, Wijaya Karya (WIKA), PTPP (PTPP), Hutama Karya, and Adhi Karya (ADHI). The push for new electricity system comes as there is a deficit in Sumatra. The funding will come from SOE banks not state budget.

Rupiah pagi ini terus menguat

Mar 07, 2014 - Indo - 0 Comments - Standard

Rupiah pagi ini terus menguat. Jam 8.30wib tadi berada di Rp11.398, dan saat ini 8.50wib sudah berada di Rp11.365. Penguatan rupiah ini akan menjadi katalis positif utk pasar pada umumnya tetapi ada beberapa saham khususnya. Fokus terhadap saham-saham yang sensitif terhadap penguatan rupiah. Rupiah play : ADHI, ASRI, CPIN, ERAA, ICBP, GJTL, JPFA, KIJA, KLBF, […]

Indonesia Construction Sector – No stop sign

Feb 28, 2014 - Indo - 0 Comments - Standard

Today Maybank infrastructure analyst, Pandu Anugrah, issues a 85-page comprehensive infrastructure sector report. He initiates the sector with and OVERWEIGHT rating, and has BUY calls on five stocks. The top picks are based on the highest earnings visibility to the lowest: WIKA, PTPP, WSKT and ADHI. He also has a BUY call ACST for a […]

PTPP obtains new contracts worth Rp2.4tn to build Kutai Coal Terminal

Feb 26, 2014 - Indo - 0 Comments - Standard

PTPP obtains new contracts worth Rp2.4tn to build Kutai Coal Terminal. In the project, PTPP acts as the subcontractor, and Samsung C & T Corporation as the contractor. The project is located in Kutai, East Kalimantan, where it takes implementation period of 33 months. PTPP is targeting new contracts amounting to Rp24tn in 2014, growing […]

PKPK cancel its plan in acquiring RITS

Feb 25, 2014 - Indo - 0 Comments - Standard

PKPK cancel its plan in acquiring RITS. Perdana Karya Perkasa (PTPP) has cancelled its conditional sales and purchase agreement (CSPA) to acquire RITS Ventures Limited shares. RITS Ventures owns 66.5% shares of Indowana Bara who has IUP of 5,000 ha in East Kalimantan.

PTPP meraih kontrak dengan perusahaan asing untuk pembangunan terminal batubara sebesar Rp2 triliun di Kuta Kartanegara (Kalimantan Timur) pada 2014

Feb 25, 2014 - Indo - 0 Comments - Standard

Pembangunan Perumahan (PTPP) meraih kontrak dengan perusahaan asing untuk pembangunan terminal batubara sebesar Rp2 triliun di Kuta Kartanegara (Kalimantan Timur) pada 2014. Perseroan menyatakan, penandatanganan kerja sama tersebut akan digelar hari ini (24/2). Proyek berupa pembangunan conveyor batubara tersebut diharapkan menjadi faktor pendorong untuk merealisasikan target kontrak baru sebesar Rp24 triliun pada 2014. Hingga akhir […]

PTPP menargetkan kenaikkan pendapatan sebesar 37,3% menjadi Rp16 triliun sepanjang 2014

Feb 25, 2014 - Indo - 0 Comments - Standard

Pembangunan Perumahan (PTPP) menargetkan kenaikkan pendapatan sebesar 37,3% menjadi Rp16 triliun sepanjang 2014. Laba bersih diprediksi naik hingga 23,8% menjadi Rp520 miliar. Target tersebut didasarkan atas ekspektasi kenaikkan kontrak baru tahun ini menjadi Rp24 triliun dan proyek carry over tahun lalu sebesar Rp21,93 triliun.

PTPP menargetkan kontrak baru sebesar Rp24 triliun pada 2014

Feb 21, 2014 - Indo - 0 Comments - Standard

Pembangunan Perumahan (PTPP) menargetkan kontrak baru sebesar Rp24 triliun pada 2014, naik 22,57% dibandingkan dengan target tahun 2013 sebesar Rp19,58 triliun. Perseroan menyatakan, target kontrak tersebut belum termasuk peralihan (carry over) tahun lalu sebesar Rp21,93 triliun. Dengan demikian, kontrak yang dihadapi (order book) pada 2014 mencapai Rp45,93 triliun, naik 29,56% dibandingkan dengan order book tahun […]

PTPP menargetkan kontrak baru tahun 2014 sebesar Rp 24 triliun

Feb 19, 2014 - Indo - 0 Comments - Standard

Pembangunan Perumahan (PTPP) menargetkan kontrak baru tahun 2014 sebesar Rp 24 triliun atau naik 22,55% YoY dari realisasi tahun 2013 sebesar Rp 19,58 triliun. Target perolehan kontrak tersebut belum termasuk peralihan (carry over) tahun 2013 sebesar Rp 21,93 triliun. Dengan demikian kontrak yang dihadapi (order book) tahun 2014 mencapai Rp 45,93 triliun. Perseroan menargetkan order […]

PTPP menganggarkan belanja modal (capital expenditure/capex) sebesar Rp446 miliar

Feb 18, 2014 - Indo - 0 Comments - Standard

Pembangunan Perumahan (PTPP) menganggarkan belanja modal (capital expenditure/capex) sebesar Rp446 miliar, naik 120,7% dari realisasi tahun sebelumnya sebesar Rp202 miliar. Sumber dana didapat dari cadangan modal dan sisa dana penawaran umum perdana (initial public offering/IPO). Dana capex akan digunakan perseroan untuk mengakuisisi perusahaan milik Yayasan Kesejahteraan Karyawan PP, yaitu PT Prima Jasa Aldodua yang bergerak […]

PTPP targets Rp24trn new contracts in FY14

Feb 18, 2014 - Indo - 0 Comments - Standard

Pembangunan Perumahan (PTPP) targets Rp24trn new contracts in FY14 – This is an increase of 22.55%yoy from Rp19.58trn in 2013. Bambang Triwibowo, President Director of PTPP, said that the Rp24trn amount has not included a carry offer of 2013 contract value for about Rp21.93trn. PTPP budgets Rp446bn, +120.7%yoy, for 2014 capex. In 2015, PTPP subsidiary, […]

PTPP’s FY13 earnings of IDR421b (+36% YoY) is higher than consensus forecast

Feb 18, 2014 - Indo - 0 Comments - Standard

PT Pembangunan Perumahan’s FY13 earnings of IDR421b (+36% YoY) is higher than consensus forecast – PT Pembangunan Perumahan‘s (PTPP) 4Q13 net profit came in at IDR202b up 170% QoQ (-0.8% YoY), translating to 2013 net profit of IDR421b (+36% YoY), higher than consensus estimate. Note that 4th quarter is a seasonally high quarter for contractors. […]

PTPP seeks Rp24tr in new contracts PTPP seeks Rp24tr in new contracts

Feb 18, 2014 - Indo - 0 Comments - Standard

Pembangunan Perumahan (PTPP) has targeted new contracts of Rp24tr in 2014, up by 22.6% YoY compared to this year’s realization. Coupled with last year’s carryover of Rp21.9tr, total contracts should reach Rp45.9tr in 2014, for which the Company has targeted revenue of Rp16tr (up by 37.3% YoY), net profit of Rp520bn (up by 23.8% YoY), […]

PTPP: Another record-breaking year

Feb 18, 2014 - Indo - 0 Comments - Standard

PTPP’s FY13 earnings did not disappoint as they met our expectations, at 105% of our forecast, and beat consensus by a wide margin of 10%. Robust revenue growth and resilient gross margins in the face of rising dollar-denominated costs provide a brighter outlook for FY14. The company’s confidence in the future of the industry is […]

PTPP shows strong confident that new contracts will grow 20% yoy in 2014

Feb 03, 2014 - Indo - 0 Comments - Standard

In our meeting with PTPP, management shows strong confident that new contracts will grow 20% yoy in 2014 (by Pandu Anugrah). Several key highlights from our meeting with PT Pembangunan Perumahan (PTPP) are: – New contract awards in 2014 is expected to grow 20% YoY to IDR24t, stemming from government projects (30%-35%), SOE projects (30%-35%), […]

PTPP membukukan laba bersih Rp 407 miliar

Jan 21, 2014 - Indo - 0 Comments - Standard

Pembangunan Perumahan (PTPP) membukukan laba bersih Rp 407 miliar (belum audit) pada 2013, tumbuh 31,46% dibandingkan dengan tahun 2012 sebesar Rp 309,6 miliar. Perseroan telah menaikkan target rencana kerja dan anggaran perusahaan (RKAP) laba bersih dari Rp 370 miliar menjadi Rp 407 miliar. Kenaikkan laba bersih ini disebabkan oleh meningkatnya pendapatan usaha perusahaan menjadi RP […]

Pavilion Permata’s completion development plan

Dec 04, 2013 - Indo - 0 Comments - Standard

PTPP (PTPP) expects Surabaya Pavilion Permata Apartment’s development completion in December 2014. Construction began in October 2013 with price per unit starting from IDR250m.

Research 3Des13

Dec 03, 2013 - Indo - 0 Comments - Standard

Bursa Amerika ditutup melemah ditengah data manufaktur bulan November yang lebih baik dari perkiraan dan penurunan penjualan ritel pada Black Friday weekend. Index manufaktur AS November tercatat naik dari Okt 56.4 menjadi 57.3, lebih tinggi dari proyeksi sebesar 55.1. Angka ini merupakan yang tertinggi lebih dari 2 tahun terakhir. Ini menjadi indikator belanja bisnis akan […]

Hingga Oktober, realisasi proyek baru emiten konstruksi berada di level 70% dari target setahun penuh

Nov 27, 2013 - Indo - 0 Comments - Standard

Hingga Oktober, realisasi proyek baru emiten konstruksi berada di level 70% dari target setahun penuh. Pencapaian itu lebih lambat dibandingkan dengan periode yang sama tahun lalu, kecuali PT Waskita Karya Tbk (WIKA) yang realisasinya sudah setara dengan pencapaian tahun sebelumnya. WIKA adalah perusahaan yang capaiannya terkuat, sedangkan PT Waskita Karya Tbk (WSKT) membukukan pencapaian terlemah […]

Construction Sector: Building through the Headwinds

Nov 25, 2013 - Indo - 0 Comments - Standard

The aggregate share price performance of SOE contractors has continued to outperform the JCI (up 12%ytd, yet way down from as high as 82% in May 2013). The sector has been de-rated on concerns over higher interest costs and the slow disbursement of the state budget. In our view, 2014 will be a challenging year […]

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