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Thursday, October 12, 2017       09:48 WIB
PremierInsight: PGAS has reduced its capex to US$300mn for FY17 from earlier US$500mn.

Perusahaan Gas Negara (PGAS IJ; Rp1,415; Hold) has reduced its capex to US$300mn for FY17 from earlier US$500mn. The company will concentrate on projects that will have direct impact to volume growth. The company explores the possibility to supply gas to industrial estates such as Industrial Estate Cikande Serang. Additionally, company also reported strong growth in gas demand by 17% in 3Q17 to about 800mmscfd. (Bisnis Indonesia)

Comment: We met with the company yesterday, the increase in gas demand might not be sustainable as some demand growth was seasonal. We maintain our Hold recommendation at the moment.

 

 

Sumber : IPS RESEARCH


 





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