Today's Headlines - 22 Juli 2014

Bank Mandiri to Finance Toll Roads Rp10.9 T (ID) BMRI has disbursed loans worth Rp10.94 trillion to support the construction of the toll road until June 2014. Of these, the largest financing done for the construction of four toll roads in Greater Jakarta area which amounted to Rp4.96 trillion. In addition to the four toll roads Jabodetabek, BMRI channeled to the construction of two toll road in West Java and Banten worth Rp1.48 trillion as well as a toll road in Central Java worth Rp1.84 trillion, two toll road in East Java worth Rp1.17 trillion and highways in Bali worth Rp445 billion. Chitose 1H2014 Result – Bottom line up 13.5% Chitose reported 1H2014 revenue of Rp142.9 bn up 4.9% y-y compare to the same period of 2013 at Rp136 bn. Gross profit however, posted higher 25.2% at Rp48 bn compare to Rp38 bn in the same period last year. Bottom line stood at Rp15.4 bn, up +13.5% compare to Rp13.6 bn on the same period 2013. Gross margin was better in the 1H2014 at 33.3% or up by 5.3 ppt compare to the same period last year, as well as operating margin which also saw an improvement to 15.5%, higher by 1.7ppt compare to the same period last year at 13.8%. An improvement is also shown by the net margin which higher by 0.8ppt at 10.8% compare to last year. Balance sheet remains in net cash position following an IPO on June 2014.  SOEs Construction booked new contract Rp25.6 trillion (ID) Four SoE Construction companies that listed on the Stock Exchange bagged new contracts worth a total of Rp25.6 trillion during the first half of 2014, or an average down 11.7% compared to the same period last year Rp29 trillion. ADHI bagged new contracts amounting to Rp3.5 trillion (-28.57% compared the first half of 2013 Rp4.5 trillion). Meanwhile, WIKA posted a new contract worth Rp6.7 trillion (-34.32% compared the first half of 2013 Rp 9 trillion). Additionally, PTPP posted a new contract Rp8.4 trillion (-13.09% of the first semester 2013 Rp9.5 trillion). Lastly, WSKT booked Rp7.08 trillion new contract value (+ 16.6% from the first half of 2013 6 trillion). The new contract comes from government, private and SOE projects.