Duta Graha contracts exceeds IDR 1.7 trillion

PT Duta Graha Indah Tbk booked new contracts worth of Rp 1.8 trillion, exceeded the IDR 1.7 trillion 2009 target. “On December 2009 the company won two new contracts; road projects in Ambarawa and Martabe (North Sumatera) worth of IDR 120 billion”, said Djohan Halim, the corporate secretary of Duta Graha. It makes Duta Graha’s new contracts during December 2009 increased by IDR 300 billion. Until November 2009, Duta Graha booked new contracts worth of IDR 1.5 triliion. Of IDR 1.8 trillion new contracts, approximately IDR 600 billion is from joint operation contracts.

Duta Graha targeted 2009 revenue to be IDR 1.55 – IDR 1.62 trillion (grow 15%-20% from 2008 revenue). Net income was predicted to grow to IDR 70-73 billion and new contracts 2009 was IDR 3.5 trillion (2008’s carry over was IDR 1.73 trillion).

CIMB’s analyst, Liliana Bambang upgraded construction sector rating from underweight to overweight due to recovery in 2010. The GDP is expected to grow from 3.5% in 2009 to 5% in 2010. She said in her riset that demand for housing is expected to grow due to raising credit demand and government budget for construction.

Source : Investor Daily, 04 January 2010.