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Waskita Karya Construction

In a news from bisnis.com, Waskita Karya Construction company (WSKT) will increase their Net income by 20% from last year achievement of IDR 368bio, making it a whopping IDR 443bio by the end of 2014. Sales have increased by 6% y-o-y on Q2, whilst COGS is slightly higher than last year, but WSKT still manage a 17% increase on gross profit.
I have forecast Q3 and Q4 whether WSKT is able to hit the target by the end of 2014 with net income of IDR 443bio, using last year quarterly growth of the company. Net income is not showing 443bio, in contrast it only shows merely 400bio, but again this is using last year growth as assumption, perhaps they have different approach and other business decision that can create a higher net income than what I have forecast.

WSKT have used 58% of its capital expenditure for the year 2014, you may read more here. That means WSKT will only have IDR 350bio for the next two quarters, from the total of IDR 850bio.

Is WSKT a buy? Fundamentally it has a steady growth y-o-y, other than the ambitious net income target at IDR 443bio, practically no surprises whatsoever comparing 2014 actual with 2013. The candle chart is showing a steady increase for the first half of 2014. RSI is not showing an overbought territory and with foreign net buy of 14,462,664 on Monday alone, the stocks can be the new hype in the market.

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Comments

  1. 달밑August 22, 2014 at 12:19 AM

    What about Indonesian economy recently?

    ReplyDelete
  2. adrityaAugust 22, 2014 at 11:57 AM

    Hi Lee, I'm still doing research on it. It will be post as soon as possible.

    ReplyDelete

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