Waskita Karya (WSKT IJ): Hunting down the capital

Waskita Karya (WSKT IJ)
HOLD-UPF / TP: IDR:1,475 (-1.7%)
Analyst: Muhammad Abdul Aziz

Hunting down the capital
• Divestment normalizes its balance sheet
• Dominated by robust yet risky projects
• Expect higher new contracts of IDR35tn in FY2020
• Re-initiate coverage with a HOLD-UPF call and a TP of IDR1,475