· PP managed to win a Rp400.0bn building project from the Ministry of Public Works. PP has formed a consortium with Brantas Abipraya for this project and managed to become the winner from total 9 short listed candidates.
· This project will be started in 2011 and scheduled to complete in 12 months.
· Ministry of Public Works stated this selection is conducted in a transparent manner and PP managed to offer a competitive price without compromising technical specification.
· PTPP is trading at 2011F consensus PER of 12.2x and EV/EBITDA of 8.6x.
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