Feb 7, 2011

Waskita & Hutama Karya set for IPO

Ministry of State-Owned Enterprises is planning to prepare initial public offering (IPO) of two state-owned contractor PT Waskita Karya and PT Hutama Karya.
Sumaryanto Widayatin, Deputy of Infrastructur and Logistic at the MSOE, said the state-owned contractors are estimated to book Rp28.74 trillion sales last year, a slight decrease from Rp28.99 trillion. Net income is estimated to reach Rp922.95 billion from Rp741.50 billion.

Pembangunan Perumahan (PTPP):
The state-owned contractor PT Pembangunan Perumahan (Persero) Tbk (PTPP) estimates to post Rp8.47 trillion net sales and Rp335 billion net income this year.
In 2010, the company is predicted to post Rp4,40 trillion from Rp4.20 trillion in the previous year, while net income rose to Rp201.80 billion from Rp163.26 billion in 2009. PTPP President Director Musyanif said the company plans to spend Rp37.32 trillion of capital expenditure in 2011.

Adhi Karya (ADHI):
President Director Bambang Triwibowo said it estimates to book Rp7 trillion sales and  Rp203.56 billion net income this year. Adhi Karya is predicted to post Rp3.29 trillion sales from Rp3.04 trillion, while net income slight increased to Rp185.36 billion from Rp103.67 billion. Adhi Karya sets Rp6.6 trillion capex this year by targeting to tap business in oil and gas projects, power plants, and property.

Wijaya Karya (WIKA):
President Director Bintang Perbowo said WIKA is eyeing Rp9.44 trillion sales and Rp350 billion net income this year. It may post Rp6.7 trillion sales last year fom Rp6.59 trillion, while net income increased to Rp270 billion in 2010 from Rp189 billion. The company will spend Rp522 billion capital expenditure.
Waskita Karya:
President Director M. Choliq said the company is targeting Rp7.59 trillion sales and Rp201.22 billion net income in 2011. Last year, the company posted Rp5.85 trillion sales from Rp4.49 trillion, while net income jumped to Rp118.54 billion from Rp60.69 billion. Waskita plans to spend Rp21.54 billion capex.

Hutama Karya:
President Director S. Subagyono said the company is eyeing Rp7 trillion sales and Rp337 billion net income.
It may post Rp3.29 trillion sales from Rp3.05 trillion in 2009, while net income rose to Rp109 billion from Rp104 billion. Capex is about Rp109 billion.

Disclosure: No position at the stock mentioned above.

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