Wijaya Karya (WIKA IJ)
BUY / TP: IDR:1,740 (+108.4%)
Analyst: Muhammad Abdul Aziz

Joint entity to lift bottom line
• Lower revenue booked in FY2019
• Bottom-line leveraged by non-operational
• Increase in gearing but still maintained
• Re-iterate BUY call with lower TP of IDR1,740