Wednesday (29/05/2013) Early BIRD Fundamental Perspective (Edwin Sebayang-MNC Securities)
Setelah Dow sempat dibuka menguat +215 poin sbg dampak kuatnya US Consumer Confidence bln Mei tertinggi selama 5 thn terakhir & US Home Prices bln Maret mencapai level tertinggi 7 thn terakhir serta adanya jaminan Bank Sentral Jepang (BOJ) & Zona Euro (ECB) utk tetap mendorong pertumbuhan ekonomi global ditengah guidelines dari bbrp emiten besar, spt: Tiffany & Co, bahwa revenue & earnings mrk akan lebih besar dari perkiraan awal & adanya corporate action yg dilakukan bbrp emiten berkaitan aktifitas M&A, spt: emiten farmasi AstraZeneca setuju membeli kepemilikan perusahaan Omthera Pharmaceuticals senilai US $443 million, akhirnya Dow ditutup menguat +106.29 poin (+0.69%) ditutup di level 15409.39 diikuti naiknya The Vix sebesar +3.5% ditutup pd level 14.48.
Fantastis, takjub...itulah statement yg akan keluar dari investor merujuk kenaikan tajam yg terjadi Selasa sebesar +91.1 poin (+1.791%) ttp jika ditelisik lebih dalam, ternyata investor asing membukukan NET SELL Rp 148 miliar atau selama 2 hari saja NET SELL asing mencapai Rp 1.45 triliun, shg ES merasa kenaikan tajam Selasa tdk bisa sustain utk bbrp hari kedepan shg rawan profit taking.
Perdagangan Rabu ini ES perkirakan IHSG berpeluang melanjutkan kenaikan ttp dlm kisaran terbatas, merujuk kenaikan moderat Dow Jones & terus melemahnya IDR against US Dollar yg mencapai diatas Rp 9800 shg ini berpotensi memberikan dampak buruk atas emiten yg punya hutang besar & berbahan baku dalam USD.
DOW +106.29 +0.69% 15409.39
NASDAQ +29.74 +0.86% 3488.89
S&P +10.46 +0.63% 1660.06
VIX +0.49 +3.5% 14.48
OIL +0.93 +0.99% 95.08
GOLD -6.4. -0.46% 1380.2
NICKEL. +62. +0.42%. 14876
TIN. +68. +0.32%. 21100
CPO -3. -0.13%. 2372
TLK.49.5 (Rp 12115)
IDR 9790
Wednesday IDX Range: 5103 - 5220
BUY: TOTL, GGRM, BSDE, WSKT, MAPI, PGAS, KLBF, SMRA, ADHI, TLKM, ICBP, UNTR, BBCA, UNVR
Wednesday, May 29, 2013
Monday, May 27, 2013
RISET FR CIMB 27 MEI 2013
RISET FR CIMB 27 MEI 2013 :
1.Construction | Another rally building up
OVERWEIGHT - Maintained
Author(s): Lydia TOISUTA, Linda LAUWIRA
A regional independent surveyor has suggested that Indonesia's construction sector is set for a blistering 39% growth in contracts for FY13, much faster than the 14% CAGR in 2011-13. This reinforces our belief that there are as many jobs available as contractors can execute. Any downside to earnings estimates is limited as cost overrun risk is low and multi-year contracts are bound for annual renegotiation. Meanwhile, there is upside potential in new contracts from both the private sector and, particularly, public sector, with the higher chance of a fuel subsidy cut. We keep our Overweight call, with PTPP as our top pick.
SECTOR COMPARISONS :
1.ADHI- NEUTRAL-TP 3,300
2.PTPP - OUTPERFORM-TP 1,800
3.TOTL - OUTPERFORM-TP 1,350
4.WIKA - OUTPERFORM-TP 2,850
VENTURING OUT OF CONSTRUCTION :
1.ADHI,
EXPANSION IN 2013F
-Precast Concrete : Capacity of 130,000mt.pa
-Public Transportation : monorail from satellite city to city centre
-Hospitality : Grand Dhika Hotel in Blok M
2.PTPP
EXPANSION IN 2013F
-Strategic Investment in Toll Roads : 6 inner city toll road
-Strategic Investment in Power Plants : Micro hydro power plant 10MW
-Hospitality : Hotel in Makassar and Bali
-Precast Concrete : Capacity of 270,000mt.pa
3.WIKA
EXPANSION IN 2013F
-Strategic Investment In Toll Roads : Surabaya-Mojokerto toll roads, Kuncirang-Cengkareng toll
roads, 6 inner city toll roads
-Strategic Investment In Power Plants : Geothermal power plant
-Strategic Investment In A Asphalt Business : Buton asphalt factory
(24 MEI 2013)
1.Construction | Another rally building up
OVERWEIGHT - Maintained
Author(s): Lydia TOISUTA, Linda LAUWIRA
A regional independent surveyor has suggested that Indonesia's construction sector is set for a blistering 39% growth in contracts for FY13, much faster than the 14% CAGR in 2011-13. This reinforces our belief that there are as many jobs available as contractors can execute. Any downside to earnings estimates is limited as cost overrun risk is low and multi-year contracts are bound for annual renegotiation. Meanwhile, there is upside potential in new contracts from both the private sector and, particularly, public sector, with the higher chance of a fuel subsidy cut. We keep our Overweight call, with PTPP as our top pick.
SECTOR COMPARISONS :
1.ADHI- NEUTRAL-TP 3,300
2.PTPP - OUTPERFORM-TP 1,800
3.TOTL - OUTPERFORM-TP 1,350
4.WIKA - OUTPERFORM-TP 2,850
VENTURING OUT OF CONSTRUCTION :
1.ADHI,
EXPANSION IN 2013F
-Precast Concrete : Capacity of 130,000mt.pa
-Public Transportation : monorail from satellite city to city centre
-Hospitality : Grand Dhika Hotel in Blok M
2.PTPP
EXPANSION IN 2013F
-Strategic Investment in Toll Roads : 6 inner city toll road
-Strategic Investment in Power Plants : Micro hydro power plant 10MW
-Hospitality : Hotel in Makassar and Bali
-Precast Concrete : Capacity of 270,000mt.pa
3.WIKA
EXPANSION IN 2013F
-Strategic Investment In Toll Roads : Surabaya-Mojokerto toll roads, Kuncirang-Cengkareng toll
roads, 6 inner city toll roads
-Strategic Investment In Power Plants : Geothermal power plant
-Strategic Investment In A Asphalt Business : Buton asphalt factory
(24 MEI 2013)
Friday, May 24, 2013
Friday (24/05/2013) Early BIRD Fundamental Perspective (Edwin Sebayang-MNC Securities)
Friday (24/05/2013) Early BIRD Fundamental Perspective (Edwin Sebayang-MNC Securities)
"Good News From Wall Street"
Walaupun Futures dan diawal pembukaan Dow Jones sempat dibuka turun cukup tajam akibat 3 hal yakni: kejatuhan tajam Nikkei sebesar -7%, kekhawatiran mengenai kelanjutan program Quantitative Easing serta data PMI China bulan May yang turun menjadi 49.6 dari sebelumnya 50.4 di bulan April, akan tetapi slow but sure, Dow mengalami recovery didorong positivenya 3 data ekonomi utama yakni: turunnya data Initial Jobless Claims mjd sebesar 340,000 utk Minggu yg berakhir 18 May dibandingkan dgn minggu sebelumnya 363,000 unit (VS prediksi awal ekonom sebesar 345,000) dan data The US Flash Markit Manufacturing PMI bulan Mei sebesar 51.9 lebih kuat dibandingkan perkiraan awal 51.8 (tetapi memang lebih rendah dibandingkan data April sebesar 52.1) serta naiknya data New Home Sales April sebesar 4.97 juta, naik dari sebelumnya 4.94 juta di bln Maret (naik tertinggi selama 3 tahun terakhir) serta Home Sales telah naik 9.7% selama 12 bulan terakhir mjd faktor pendorong Dow hanya terkoreksi tipis -12.67 poin (-0.08%) ditutup pd level 15294.5 diikuti kenaikan tipis The Vix +1.81% ditutup pd level 14.07.
Kabar gembira datang dari Dow Jones yg hanya terkoreksi tipis -0.08% & ini memberikan stabilisasi perdagangan di Bursa Indonesia & bukan mustahil IHSG berpeluang rebound dalam perdagangan Jumat ini karena akibat panic selling yang TIDAK MENDASAR Kamis kemarin, tersedia saham berfundamental kuat menjadi layak beli.
DOW -12.67 -0.08% 15294.50
NAS -3.88 -0.11% 3459.42
S&P -4.84 -0.29% 1650.51
VIX +0.25+ 1.81% 14.07
OIL +0.05 +0.05% 94.33
GOLD +22.60 +1.65% 1390
NICKEL. -240. -1.58%. 14940
TIN. -351. -1.64%. 21049
CPO. +12. +0.51% 2340
TLK.49.14 (Rp 12000)
IDR 9769
Friday IDX Range: 5070 - 5191
BOW: MAPI, ICBP, SMGR, GGRM, BSDE, ADHI, TOTL, TLKM, KLBF, PGAS, INTP, SMRA (ES-MNC Sec/Disc On)
"Happy Hunting Cheap Strong Stocks & GBU All"
"Good News From Wall Street"
Walaupun Futures dan diawal pembukaan Dow Jones sempat dibuka turun cukup tajam akibat 3 hal yakni: kejatuhan tajam Nikkei sebesar -7%, kekhawatiran mengenai kelanjutan program Quantitative Easing serta data PMI China bulan May yang turun menjadi 49.6 dari sebelumnya 50.4 di bulan April, akan tetapi slow but sure, Dow mengalami recovery didorong positivenya 3 data ekonomi utama yakni: turunnya data Initial Jobless Claims mjd sebesar 340,000 utk Minggu yg berakhir 18 May dibandingkan dgn minggu sebelumnya 363,000 unit (VS prediksi awal ekonom sebesar 345,000) dan data The US Flash Markit Manufacturing PMI bulan Mei sebesar 51.9 lebih kuat dibandingkan perkiraan awal 51.8 (tetapi memang lebih rendah dibandingkan data April sebesar 52.1) serta naiknya data New Home Sales April sebesar 4.97 juta, naik dari sebelumnya 4.94 juta di bln Maret (naik tertinggi selama 3 tahun terakhir) serta Home Sales telah naik 9.7% selama 12 bulan terakhir mjd faktor pendorong Dow hanya terkoreksi tipis -12.67 poin (-0.08%) ditutup pd level 15294.5 diikuti kenaikan tipis The Vix +1.81% ditutup pd level 14.07.
Kabar gembira datang dari Dow Jones yg hanya terkoreksi tipis -0.08% & ini memberikan stabilisasi perdagangan di Bursa Indonesia & bukan mustahil IHSG berpeluang rebound dalam perdagangan Jumat ini karena akibat panic selling yang TIDAK MENDASAR Kamis kemarin, tersedia saham berfundamental kuat menjadi layak beli.
DOW -12.67 -0.08% 15294.50
NAS -3.88 -0.11% 3459.42
S&P -4.84 -0.29% 1650.51
VIX +0.25+ 1.81% 14.07
OIL +0.05 +0.05% 94.33
GOLD +22.60 +1.65% 1390
NICKEL. -240. -1.58%. 14940
TIN. -351. -1.64%. 21049
CPO. +12. +0.51% 2340
TLK.49.14 (Rp 12000)
IDR 9769
Friday IDX Range: 5070 - 5191
BOW: MAPI, ICBP, SMGR, GGRM, BSDE, ADHI, TOTL, TLKM, KLBF, PGAS, INTP, SMRA (ES-MNC Sec/Disc On)
"Happy Hunting Cheap Strong Stocks & GBU All"
Wednesday, May 22, 2013
Saham 22 Mei 2013
BAHANA (DX) KLBF to remove its treasury stock | Kalbe Farma (KLBF-BUY-IDR1,540-TP:IDR1,580) plans to increase the EPS by removing its 3.9b shares (7.7%) of treasury stock from buyback action in 2008-2010. Separately, in July 2013, KLBF will distribute IDR891b of cash dividends, translating to IDR19/share (Yield: 1.2%, payout ratio: 51%). Additionally, KLBF will allocate IDR1.5t for 2013 capex (50% for acquisition and the remaining for expansion).
¤ CREDIT SUISSE (CS), Gas Negara (PGAS, N, PT Rp6,000) | PGAS is negotiating with the Special Task Force for Upstream Oil and Gas Agency (SKK Migas) for a cheaper LNG price to supply its FSRU in Lampung. Ideally, PGAS' LNG purchase price should be below the current level of US$10-11/MMBTU, given the limited purchasing power of its industrial end-users customers. PGAS stated that State Power Company (PLN) is buying the LNG at US$10-11/MMBTU amid its comparison with the diesel price, while PGAS customers are comparing the LNG price against the piped gas price.
¤KIM ENG (ZP) TLKM: Strong sentiment on TLKM was reflected on price performance yesterday. There appear two interesting indicators: white candle with gap up signal and strong trend line. We see potential of rally continuation after the stock breaks up its resistance level. IDR13500 is our target. TRADING BUY.
¤¤¤¤¤
¤ CREDIT SUISSE (CS), Gas Negara (PGAS, N, PT Rp6,000) | PGAS is negotiating with the Special Task Force for Upstream Oil and Gas Agency (SKK Migas) for a cheaper LNG price to supply its FSRU in Lampung. Ideally, PGAS' LNG purchase price should be below the current level of US$10-11/MMBTU, given the limited purchasing power of its industrial end-users customers. PGAS stated that State Power Company (PLN) is buying the LNG at US$10-11/MMBTU amid its comparison with the diesel price, while PGAS customers are comparing the LNG price against the piped gas price.
¤KIM ENG (ZP) TLKM: Strong sentiment on TLKM was reflected on price performance yesterday. There appear two interesting indicators: white candle with gap up signal and strong trend line. We see potential of rally continuation after the stock breaks up its resistance level. IDR13500 is our target. TRADING BUY.
¤¤¤¤¤
Tuesday, May 21, 2013
Info index 21 Mei 2013
21 Mei 2013,
Dow Jones -0,12%, S&P500-0,07% dan Nasdaq -0,07%.
Indeks di bursa Wall Street ditutup melemah setelah pada awal sesi sempat berada di teritori positif. Beberapa pejabat The Fed dalam beberapa bulan terakhir menginginkan program QE3 dihentikan dalam beberapa bulan mendatang.
Fed akan merilis minutes dari pertemuan mereka bulan lalu pada 22 Mei, pada hari yang sama Ben Bernanke akan melakukan testimoni mengenai prospek ekonomi. Kondisi tersebut mendorong profit taking pada perdagangan kemarin. Sebelumnya indeks sempat menguat karena sentimen positif berita akuisisi beberapa emiten.
IHSG pada perdagangan hari ini diperkirakan mix dengan kecenderungan menguat terbatas (5160-5250). Stock pick: BBRI, KLBF, AKRA, INDF, BBNI, BMRI, APLN
NEWS:
∙ KLBF Bagi Dividen Rp19/saham dan Tarik Treasury Stock
∙ NOBU Targetkan 70 Kantor Cabang dan Kredit Rp1,4 Triliun
∙ WIIM Targetkan Penjualan Tahun 2013 Tumbuh 40% YoY
∙ INDX Akan Rights Issue Pada Harga Rp550/saham
∙ Anak Usaha WINS Dapat Fasilitas Kredit USD3,075 Juta
• KREN berencana melakukan perubahan kegiatan usaha utama dari perantara pedagang efek dan penjamin emisi efek menjadi perusahaan yang bergerak dalam bidang perdagangan umum yang dapat berinvestasi di bidang usaha lainnya serta akan mendirikan perusahaan sekuritas baru
• JSMR berminat akuisisi proyek jalan tol tengah kota di Surabaya
• ANTM berencana menerbitkan obligasi global tahun ini sebesar USD820 juta untuk membiayai sejumlah proyek strategis
• WINS berencana melakukan buyback saham sebanyak-banyaknya 190.000.000 dalam waktu 18 bulan sejak RUPS 20 Juni 2013
• LPKR bekerja sama dengan Grup Toyota, bangun hotel residence senilai USD30 juta di Cikarang
• Per April 2013, marketing sales APLN capai Rp2,2 triliun atau tumbuh 44,2% YoY
Dow Jones -0,12%, S&P500-0,07% dan Nasdaq -0,07%.
Indeks di bursa Wall Street ditutup melemah setelah pada awal sesi sempat berada di teritori positif. Beberapa pejabat The Fed dalam beberapa bulan terakhir menginginkan program QE3 dihentikan dalam beberapa bulan mendatang.
Fed akan merilis minutes dari pertemuan mereka bulan lalu pada 22 Mei, pada hari yang sama Ben Bernanke akan melakukan testimoni mengenai prospek ekonomi. Kondisi tersebut mendorong profit taking pada perdagangan kemarin. Sebelumnya indeks sempat menguat karena sentimen positif berita akuisisi beberapa emiten.
IHSG pada perdagangan hari ini diperkirakan mix dengan kecenderungan menguat terbatas (5160-5250). Stock pick: BBRI, KLBF, AKRA, INDF, BBNI, BMRI, APLN
NEWS:
∙ KLBF Bagi Dividen Rp19/saham dan Tarik Treasury Stock
∙ NOBU Targetkan 70 Kantor Cabang dan Kredit Rp1,4 Triliun
∙ WIIM Targetkan Penjualan Tahun 2013 Tumbuh 40% YoY
∙ INDX Akan Rights Issue Pada Harga Rp550/saham
∙ Anak Usaha WINS Dapat Fasilitas Kredit USD3,075 Juta
• KREN berencana melakukan perubahan kegiatan usaha utama dari perantara pedagang efek dan penjamin emisi efek menjadi perusahaan yang bergerak dalam bidang perdagangan umum yang dapat berinvestasi di bidang usaha lainnya serta akan mendirikan perusahaan sekuritas baru
• JSMR berminat akuisisi proyek jalan tol tengah kota di Surabaya
• ANTM berencana menerbitkan obligasi global tahun ini sebesar USD820 juta untuk membiayai sejumlah proyek strategis
• WINS berencana melakukan buyback saham sebanyak-banyaknya 190.000.000 dalam waktu 18 bulan sejak RUPS 20 Juni 2013
• LPKR bekerja sama dengan Grup Toyota, bangun hotel residence senilai USD30 juta di Cikarang
• Per April 2013, marketing sales APLN capai Rp2,2 triliun atau tumbuh 44,2% YoY
Friday, May 10, 2013
RANGKUMAN LABA(RUGI)BERSIH Q1 2013 vs Q1 2012
RANGKUMAN LABA(RUGI)BERSIH Q1 2013 vs Q1 2012
3.8 PULP & PAPER
*ALDO : Laba bersih Q1 2013 Rp2,2m vs Rp3,0m
*FASW : Laba bersih Q1 2013 Rp 68,1m vs Rp 3,3m
*INKP Laba Q1 2013 : $ 47,4 M VS $ 5,2 M
(Laba bersih Q1 2013 Rp461,2m vs Rp48,2m)
*INRU : Rugi bersih Q1 2013 Rp22,2m vs Rugi Rp18,7m
*KBRI : Rugi bersih Q1 2013 Rp3,0m vs Rugi Rp5,6m
*TKIM : laba bersih Q1 2013 Rp141,6 miliar vs Rp 148,5 miliar.
*SPMA : Laba bersih Q1 2013 Rp12,1m vs Rp5,2m
*SAIP : Rugi bersih Q1 2013 Rp22,6m vs Rugi Rp14,0m
*TOBA : Laba bersih Q1 2013 Rp31,2m
6.2 BUILDING CONSTRUCTION
*ADHI : Laba bersih Q1 2013 Rp11,5m vs Rp5,5m
*DGIK Laba bersih Q1 2013 Rp18,04m vs Rp5,16m (naik 249%)
*JKON : Laba bersih Q1 2013 Rp11,0m vs Rp12,2m
*PTPP : Laba bersih Q1 2013 Rp42,5m vs Rp28,3
*SSIA : Laba bersih Q1 2013 Rp200,3m vs Rp222,8m
*TOTL : laba bersih Q1 2013 Rp 47,9 miliar vs Rp 32,4 miliar.
*WIKA : laba bersih Q1 2013 sebesar 156,9 miliar vs Rp 95,1 miliar
*WSKT : Laba bersih Q1 2013 Rp5,4m vs Rp824jt
3.8 PULP & PAPER
*ALDO : Laba bersih Q1 2013 Rp2,2m vs Rp3,0m
*FASW : Laba bersih Q1 2013 Rp 68,1m vs Rp 3,3m
*INKP Laba Q1 2013 : $ 47,4 M VS $ 5,2 M
(Laba bersih Q1 2013 Rp461,2m vs Rp48,2m)
*INRU : Rugi bersih Q1 2013 Rp22,2m vs Rugi Rp18,7m
*KBRI : Rugi bersih Q1 2013 Rp3,0m vs Rugi Rp5,6m
*TKIM : laba bersih Q1 2013 Rp141,6 miliar vs Rp 148,5 miliar.
*SPMA : Laba bersih Q1 2013 Rp12,1m vs Rp5,2m
*SAIP : Rugi bersih Q1 2013 Rp22,6m vs Rugi Rp14,0m
*TOBA : Laba bersih Q1 2013 Rp31,2m
6.2 BUILDING CONSTRUCTION
*ADHI : Laba bersih Q1 2013 Rp11,5m vs Rp5,5m
*DGIK Laba bersih Q1 2013 Rp18,04m vs Rp5,16m (naik 249%)
*JKON : Laba bersih Q1 2013 Rp11,0m vs Rp12,2m
*PTPP : Laba bersih Q1 2013 Rp42,5m vs Rp28,3
*SSIA : Laba bersih Q1 2013 Rp200,3m vs Rp222,8m
*TOTL : laba bersih Q1 2013 Rp 47,9 miliar vs Rp 32,4 miliar.
*WIKA : laba bersih Q1 2013 sebesar 156,9 miliar vs Rp 95,1 miliar
*WSKT : Laba bersih Q1 2013 Rp5,4m vs Rp824jt
Wednesday, May 8, 2013
Wednesday (08/05/2013) Early BIRD Fundamental Perspective (Edwin Sebayang-MNC Securities)
Wednesday (08/05/2013) Early BIRD Fundamental Perspective (Edwin Sebayang-MNC Securities)
Kuatnya pertumbuhan data Industial Orders German (sebagai negara terbesar perekonomian di Eropa) yg melaporkan kenaikan 2.2% di bulan Maret dibandingkan ekspektasi ekonom yg memperkirakan terjadinya kontraksi -0.5% serta kuatnya pertumbuhan revenue & earnings diatas ekspektasi awal dari beberapa emiten yg baru merelease LK Q1/2013 seperti: Caterpillar (harga sahamnya naik +2.5% menjadi $89.79/lbr), Fossil (harga saham naik +9% menjadi $107.88/lbr) & DirectTV (harga saham naik +6.9% menjadi $61.95/lbr) menjadi faktor pendorong naiknya Dow Jones sebesar +87.31 poin (+0.58%) ditutup pertama kali sejak bbrp tahun terakhir diatas level 15,000 tepatnya 15,056.2 diikuti kenaikan The Vix sebesar +1.34% pada level 12.83.
Faktor menguatnya Dow Jones sebesar +0.58% ditutup pertama kali diatas 15,000 kembali serta penguatan Bursa Utama Eropa didukung membaiknya data ekonomi AS & German menjadi faktor IHSG berpeluang mengalami penguatan kembali dalam perdagangan Rabu ditengah bayang-bayang investor asing yang terus membukukan Net Sell selama 3 hari sebesar -1.676 triliun walaupun IHSG menguat tajam 2 hari ini sebesar +117.3 poin setelah S&P & Moody's akan menurunkan credit rating & outlook Indonesia.
DOW 15,056.2 +87.31. +0.58%
NASDAQ 3,396.63. +3.66. +0.11%
OIL 95.42. -0.2. -0.21%
GOLD 1,451.2. +2.4 +0.13%
NICKEL.15,200. +31.+0.2%
TIN.20301. -24. -0.12%
CPO.2238. +9. +0.4%
TLK.47.78 (Rp 11625)
IIT 28.54 (Rp 5555)
IDR 9732
Wednesday IDX Range: 5004-5082
BUY: BBRI, WSKT, ITMG, JSMR, TLKM, BBCA, TOTL, BSDE, WIKA, BMRI, KLBF, GGRM, PTPP, ADHI, AKRA, MAPI, PGAS
Kuatnya pertumbuhan data Industial Orders German (sebagai negara terbesar perekonomian di Eropa) yg melaporkan kenaikan 2.2% di bulan Maret dibandingkan ekspektasi ekonom yg memperkirakan terjadinya kontraksi -0.5% serta kuatnya pertumbuhan revenue & earnings diatas ekspektasi awal dari beberapa emiten yg baru merelease LK Q1/2013 seperti: Caterpillar (harga sahamnya naik +2.5% menjadi $89.79/lbr), Fossil (harga saham naik +9% menjadi $107.88/lbr) & DirectTV (harga saham naik +6.9% menjadi $61.95/lbr) menjadi faktor pendorong naiknya Dow Jones sebesar +87.31 poin (+0.58%) ditutup pertama kali sejak bbrp tahun terakhir diatas level 15,000 tepatnya 15,056.2 diikuti kenaikan The Vix sebesar +1.34% pada level 12.83.
Faktor menguatnya Dow Jones sebesar +0.58% ditutup pertama kali diatas 15,000 kembali serta penguatan Bursa Utama Eropa didukung membaiknya data ekonomi AS & German menjadi faktor IHSG berpeluang mengalami penguatan kembali dalam perdagangan Rabu ditengah bayang-bayang investor asing yang terus membukukan Net Sell selama 3 hari sebesar -1.676 triliun walaupun IHSG menguat tajam 2 hari ini sebesar +117.3 poin setelah S&P & Moody's akan menurunkan credit rating & outlook Indonesia.
DOW 15,056.2 +87.31. +0.58%
NASDAQ 3,396.63. +3.66. +0.11%
OIL 95.42. -0.2. -0.21%
GOLD 1,451.2. +2.4 +0.13%
NICKEL.15,200. +31.+0.2%
TIN.20301. -24. -0.12%
CPO.2238. +9. +0.4%
TLK.47.78 (Rp 11625)
IIT 28.54 (Rp 5555)
IDR 9732
Wednesday IDX Range: 5004-5082
BUY: BBRI, WSKT, ITMG, JSMR, TLKM, BBCA, TOTL, BSDE, WIKA, BMRI, KLBF, GGRM, PTPP, ADHI, AKRA, MAPI, PGAS
Tuesday, May 7, 2013
MAIN akan melakukan penambahan modal tanpa Hak Memesan Efek Terlebih Dahulu (non-HMETD)
MAIN akan melakukan penambahan modal tanpa Hak Memesan Efek Terlebih Dahulu (non-HMETD) sebanyak-banyaknya 169,500,000 saham baru (maksimal 10% dari modal disetor).
JPFA akan menerbitkan surat utang senilai US$225 juta atau Rp2.17 triliun yang akan digunakan untuk modal kerja dan melunasi pinjaman modal kerja.
BMTR akan menambah kepemilikan saham di MSKY hingga 80% dari kepemilikan saat ini sebesar 66.47%.
MITI menargetkan pendapatan 2013 naik 30%yoy menjadi Rp196 miliar dan laba bersih 2013 naik 30-35% yoy menjadi Rp29-30 miliar.
GPRA akan melakukan akuisisi internal 4 hotel milik induk usahanya yaitu Gapuraprima Group pada tahun ini. Keempat hotel tersebut tersebut terletak di Sunset Road Bali, Nusa Dua Bali, Pondok Indah Jakarta Selatan, dan Ciputat Tangerang.
APLN akan membangun pulau buatan yang bernama Pluit City sebanyak tiga pulau dengan luas 560 ha. Pulau pertama memiliki luas 160 ha, pulau kedua dan ketiga memiliki luas masing-masing 200 ha.
JPFA akan menerbitkan surat utang senilai US$225 juta atau Rp2.17 triliun yang akan digunakan untuk modal kerja dan melunasi pinjaman modal kerja.
BMTR akan menambah kepemilikan saham di MSKY hingga 80% dari kepemilikan saat ini sebesar 66.47%.
MITI menargetkan pendapatan 2013 naik 30%yoy menjadi Rp196 miliar dan laba bersih 2013 naik 30-35% yoy menjadi Rp29-30 miliar.
GPRA akan melakukan akuisisi internal 4 hotel milik induk usahanya yaitu Gapuraprima Group pada tahun ini. Keempat hotel tersebut tersebut terletak di Sunset Road Bali, Nusa Dua Bali, Pondok Indah Jakarta Selatan, dan Ciputat Tangerang.
APLN akan membangun pulau buatan yang bernama Pluit City sebanyak tiga pulau dengan luas 560 ha. Pulau pertama memiliki luas 160 ha, pulau kedua dan ketiga memiliki luas masing-masing 200 ha.
RISET FR CIMB 06 MEI 2013
RISET FROM CIMB 06 MEI 2013 :
1.Ahead of the Curve | Singapore's results season
Author(s): Jim McCAFFERTY, James BARRETT, CFA
Next week, investors will be focused on 1Q results in South-East Asia, particularly Singapore. We are expecting 91 stocks in our universe to report results, 23 in Singapore and 20 in Thailand. The outcome of Malaysia's general elections on Sunday, 5 May, is also likely to preoccupy investors in the region.
(03 MEI 2013)
2.ASEAN Strategy Weekly Key Calls |Big cuts to the planters
Author(s): Chiou Yi CHANG,
Disappointing 1Q13 results led to broad-based earnings cuts and downgrades for SIMP, LSIP and IFAR. In the lead up to the Malaysian general election, we highlight that YTD underperformance notwithstanding, Malaysia's premium to the MXAPJ has widened since its Jan 13 lows. We maintain Neutral on the market.
ASEAN: 5 key calls
We slashed the FY13-15 EPS for the planters, SIMP, LSIP and IFAR, by up to 43% on rising production costs, sedate CPO outlook and poorer-than- expected 1Q13 earnings. Our ratings for SIMP and IFAR were downgraded to Underperform from Neutral. Telkom Indonesia was upgraded to an Outperform this week, while its target price was lifted to Rp14,500 (from Rp 10,900). Rerating catalysts include its strong growth outlook, benign competition in mobile data, and the possible listing of tower operator Mitratel. We also revised higher CTRA's FY13 earnings and target price to Rp1,850 (from Rp1,350) following its strong 1Q13 results. CTRA remains a top pick in the regional property space; positive drivers include faster presales, new project acquisitions, improvements in its return on capital employed, and its still-attractive valuations.
1.Ahead of the Curve | Singapore's results season
Author(s): Jim McCAFFERTY, James BARRETT, CFA
Next week, investors will be focused on 1Q results in South-East Asia, particularly Singapore. We are expecting 91 stocks in our universe to report results, 23 in Singapore and 20 in Thailand. The outcome of Malaysia's general elections on Sunday, 5 May, is also likely to preoccupy investors in the region.
(03 MEI 2013)
2.ASEAN Strategy Weekly Key Calls |Big cuts to the planters
Author(s): Chiou Yi CHANG,
Disappointing 1Q13 results led to broad-based earnings cuts and downgrades for SIMP, LSIP and IFAR. In the lead up to the Malaysian general election, we highlight that YTD underperformance notwithstanding, Malaysia's premium to the MXAPJ has widened since its Jan 13 lows. We maintain Neutral on the market.
ASEAN: 5 key calls
We slashed the FY13-15 EPS for the planters, SIMP, LSIP and IFAR, by up to 43% on rising production costs, sedate CPO outlook and poorer-than- expected 1Q13 earnings. Our ratings for SIMP and IFAR were downgraded to Underperform from Neutral. Telkom Indonesia was upgraded to an Outperform this week, while its target price was lifted to Rp14,500 (from Rp 10,900). Rerating catalysts include its strong growth outlook, benign competition in mobile data, and the possible listing of tower operator Mitratel. We also revised higher CTRA's FY13 earnings and target price to Rp1,850 (from Rp1,350) following its strong 1Q13 results. CTRA remains a top pick in the regional property space; positive drivers include faster presales, new project acquisitions, improvements in its return on capital employed, and its still-attractive valuations.
Tuesday (07/05/2013) Early BIRD Fundamental Perspective (Edwin Sebayang-MNC Securities)
Tuesday (07/05/2013) Early BIRD Fundamental Perspective (Edwin Sebayang-MNC Securities)
Wall Street ditutup beragam dalam perdagangan Senin yang sepi dimana Dow Jones ditutup melemah -5.07 poin (-0.03%) diiringi turunnya The Vix sebesar -1.48% ditutup pada level 12.66 sedangkan Indeks S&P 500 ditutup menguat 3.08 point ditutup pada level 1,617.50 ditengah minimnya release data ekonomi tetapi lebih didorong dinaikkannya target price beberapa emiten spt Walt Disney dinaikkan target price mjd $75 dari $63 oleh Deutsche Bank, Wunderlich dinaikkan target price menjadi $63 dari sebelumnya $58, sedangkan Barclays menaikkan target price Apple menjadi $525 dari sebelumnya $465.
Dalam perdagangan Senin, IHSG berhasil ditutup menguat sebesar +66.388 poin (+1.348%) didorong penguatan Bursa Regional tetapi diiringi tipisnya perdagangan dan investor asing kembali membukukan net sell sebesar Rp-548.94 miliar sehingga selama 2 hari perdagangan (Jumat & Senin) net sell asing mencapai sekitar Rp -1.37 triliun sehingga kenaikan Senin cukup rentan terkena profit taking dalam beberapa hari kedepan, sedangkan ES perkirakan perdagangan Selasa akan berjalan lambat cenderung sepi ditengah minimnya sentimen positif dari dalam negeri ditengah Moody's mulai mengeluarkan statement negatif setelah pemerintah Indonesia gagal menaikkan harga BBM utk mengurangi subsidi setelah sebelumnya S&P mengancam akan menurunkan rating Indonesia jika tidak ada perkembangan yg berarti dalam 12 bulan kedepan mengenai harga BBM & subsidi.
DOW 14,968.89 -5.07. -0.03%
NASDAQ 3392.97. +14.34. +0.42%
OIL 95.79. +0.18. +0.19%
GOLD 1,469.5. +5.3 +0.36%
NICKEL.15169. Unch
TIN.20325. Unch
CPO.2229. -2. -0.09%
TLK.46.34 (Rp 11520)
IIT 28.32 (Rp 5510)
IDR 9732
Tuesday IDX Range: 4952-5051
BUY: BBCA, WSKT, ITMG, JSMR, TLKM, BBRI, TOTL, BSDE, WIKA, BMRI, KLBF, GGRM, PTPP, PTBA (ES-MNC Sec/Disc On)
"Have a Glorious Tuesday & GBU All"
Wall Street ditutup beragam dalam perdagangan Senin yang sepi dimana Dow Jones ditutup melemah -5.07 poin (-0.03%) diiringi turunnya The Vix sebesar -1.48% ditutup pada level 12.66 sedangkan Indeks S&P 500 ditutup menguat 3.08 point ditutup pada level 1,617.50 ditengah minimnya release data ekonomi tetapi lebih didorong dinaikkannya target price beberapa emiten spt Walt Disney dinaikkan target price mjd $75 dari $63 oleh Deutsche Bank, Wunderlich dinaikkan target price menjadi $63 dari sebelumnya $58, sedangkan Barclays menaikkan target price Apple menjadi $525 dari sebelumnya $465.
Dalam perdagangan Senin, IHSG berhasil ditutup menguat sebesar +66.388 poin (+1.348%) didorong penguatan Bursa Regional tetapi diiringi tipisnya perdagangan dan investor asing kembali membukukan net sell sebesar Rp-548.94 miliar sehingga selama 2 hari perdagangan (Jumat & Senin) net sell asing mencapai sekitar Rp -1.37 triliun sehingga kenaikan Senin cukup rentan terkena profit taking dalam beberapa hari kedepan, sedangkan ES perkirakan perdagangan Selasa akan berjalan lambat cenderung sepi ditengah minimnya sentimen positif dari dalam negeri ditengah Moody's mulai mengeluarkan statement negatif setelah pemerintah Indonesia gagal menaikkan harga BBM utk mengurangi subsidi setelah sebelumnya S&P mengancam akan menurunkan rating Indonesia jika tidak ada perkembangan yg berarti dalam 12 bulan kedepan mengenai harga BBM & subsidi.
DOW 14,968.89 -5.07. -0.03%
NASDAQ 3392.97. +14.34. +0.42%
OIL 95.79. +0.18. +0.19%
GOLD 1,469.5. +5.3 +0.36%
NICKEL.15169. Unch
TIN.20325. Unch
CPO.2229. -2. -0.09%
TLK.46.34 (Rp 11520)
IIT 28.32 (Rp 5510)
IDR 9732
Tuesday IDX Range: 4952-5051
BUY: BBCA, WSKT, ITMG, JSMR, TLKM, BBRI, TOTL, BSDE, WIKA, BMRI, KLBF, GGRM, PTPP, PTBA (ES-MNC Sec/Disc On)
"Have a Glorious Tuesday & GBU All"
Monday, May 6, 2013
Fundamental Perspective (Edwin Sebayang-MNC Securities)
Fundamental Perspective (Edwin Sebayang-MNC Securities)
400 dr 500 emiten dlm Indeks S&P 500 yg tlh merelease earnings LK Q1/2013, 68% diantaranya mengalahkan estimasi awal analis (jauh diatas rata2 64% sejak thn 1994), akan ttp hanya 46% emiten yg tlh mengalahkan perkiraan awal analis utk revenue, jauh dibawah rata2 62% sejak thn 2002 & 52% sejak 4 kuartal terakhir dmn saat ini analis memperkirakan earnings tumbuh rata2 5.2% (dgn asumsi sisanya setara dgn kejadian diatas), diatas ekspektasi 1 April 2013 sebesar 1.5%.
Minggu ini fokus utama tetap tertuju atas release earnings Q1/2013 dmn bbrp emiten besar yg akan merelease LK nya spt: HSBC, Discovery Comm., Walt Disney (Selasa); Toyota, AOL, Wendy's, NewsCorp, (Rabu); Sony (Kamis) & ArcelorMittal (Jumat).
Disamping itu, bbrp data ekonomi penting yg perlu diperhatikan spt: consumer credit (Selasa); MBA mortgage applications (Rabu); jobless claims, wholesale inventories (Kamis).
Diluar AS, data ekonomi negara besar yg perlu diperhatikan spt: China (HSBC Services PMI, Trade Balace, CPI, PPI, New Yuan Loans); Japan (Leading Index, Trade Balance); Zona Euro (PMI Services, Retail Sales, WPI, Industrial & Manufacturing Production, Factory Orders).
Dari Indonesia, disamping menunggu kelanjutan emiten yg merelease LK Q1/2013, kejatuhan IHSG berpeluang berlanjut jika pemerintah Indonesia tdk segera menaikkan harga BBM atau menurunkan subsidi BBM krn bukan mustahil bukan hanya outlook Indonesia yg diturunkan S&P mjd "Stabil" tetapi Credit Rating Indonesia bisa jg diturunkan & yg dikhawatirkan penurunan itu akan diikuti 2 Credit Rating Agency lainnya yakni: Moody's & Fitch Rating.
DOW 14,973.96 +0.96%
OIL 95.61 +1.72%
GOLD 1,464.2 -0.23%
NICKEL.15169. +2.91%
TIN.20325. +3.41%
CPO.2231. -0.18%
TLK.46.9 (Rp 11410)
IIT 28.31 (Rp 5510)
Monday IDX Range: 4886-4985
BUY: PGAS, WSKT, MAPI, BBCA, JSMR
BOW: TLKM, SMGR, BBRI, INTP, TOTL, BSDE, AKRA, WIKA, ASII
400 dr 500 emiten dlm Indeks S&P 500 yg tlh merelease earnings LK Q1/2013, 68% diantaranya mengalahkan estimasi awal analis (jauh diatas rata2 64% sejak thn 1994), akan ttp hanya 46% emiten yg tlh mengalahkan perkiraan awal analis utk revenue, jauh dibawah rata2 62% sejak thn 2002 & 52% sejak 4 kuartal terakhir dmn saat ini analis memperkirakan earnings tumbuh rata2 5.2% (dgn asumsi sisanya setara dgn kejadian diatas), diatas ekspektasi 1 April 2013 sebesar 1.5%.
Minggu ini fokus utama tetap tertuju atas release earnings Q1/2013 dmn bbrp emiten besar yg akan merelease LK nya spt: HSBC, Discovery Comm., Walt Disney (Selasa); Toyota, AOL, Wendy's, NewsCorp, (Rabu); Sony (Kamis) & ArcelorMittal (Jumat).
Disamping itu, bbrp data ekonomi penting yg perlu diperhatikan spt: consumer credit (Selasa); MBA mortgage applications (Rabu); jobless claims, wholesale inventories (Kamis).
Diluar AS, data ekonomi negara besar yg perlu diperhatikan spt: China (HSBC Services PMI, Trade Balace, CPI, PPI, New Yuan Loans); Japan (Leading Index, Trade Balance); Zona Euro (PMI Services, Retail Sales, WPI, Industrial & Manufacturing Production, Factory Orders).
Dari Indonesia, disamping menunggu kelanjutan emiten yg merelease LK Q1/2013, kejatuhan IHSG berpeluang berlanjut jika pemerintah Indonesia tdk segera menaikkan harga BBM atau menurunkan subsidi BBM krn bukan mustahil bukan hanya outlook Indonesia yg diturunkan S&P mjd "Stabil" tetapi Credit Rating Indonesia bisa jg diturunkan & yg dikhawatirkan penurunan itu akan diikuti 2 Credit Rating Agency lainnya yakni: Moody's & Fitch Rating.
DOW 14,973.96 +0.96%
OIL 95.61 +1.72%
GOLD 1,464.2 -0.23%
NICKEL.15169. +2.91%
TIN.20325. +3.41%
CPO.2231. -0.18%
TLK.46.9 (Rp 11410)
IIT 28.31 (Rp 5510)
Monday IDX Range: 4886-4985
BUY: PGAS, WSKT, MAPI, BBCA, JSMR
BOW: TLKM, SMGR, BBRI, INTP, TOTL, BSDE, AKRA, WIKA, ASII
Friday, May 3, 2013
Friday (03/05/2013) Early BIRD Technical Prespective (Edwin Sebayang-MNC Sec)
Friday (03/05/2013) Early BIRD Technical Prespective (Edwin Sebayang-MNC Sec)
IDX Composite 4927-5078
Pola Three White Soldiers terbentuk atas IDX mengindikasikan Bullish Continuation dalam perdagangan Kamis.
Friday Stocks Pick:
TLKM 11650-119000 Pola Matching High terbentuk atas TLKM mengindikasikan ketidakmenentuan arah pergerakan. BUY 11750
SMGR 18650-19150 (TP 2013F:21200) Pola Two White Soldiers terbentuk atas SMGR mengindikasikan Bullish Continuation. BUY 18850
BBRI 9150-9700 (TP 2013F:8700) Pola Black Candle terbentuk atas BBRI mengindikasikan Bearish Reversal. BOW 9250
INTP 26200-27300 (TP 2013F:26800) Pola Bearish Harami terbentuk atas INTP mengindikasikan Bearish Reversal. BOW 26400
TOTL 1030-1110 (TP 2013F:1360) Pola Bearish Harami terbentuk atas TOTL mengindikasikan Bearish Reversal. BOW 1050
BSDE 1700-1810 (TP 2013F:1790) Pola Bearish Harami terbentuk atas BSDE mengindikasikan Bearish Reversal. BOW 1740
AKRA 4950-5200 (TP 2013F:5395) Pola Dragonfly Doji terbentuk atas AKRA mengindikasikan munculnya aksi jual. BOW 5000
BBCA 10400-10800 (TP 2013F:11800) Pola Inverted Hammer diposisi bawah terbentuk atas BBCA mengindikasikan mulai kuatnya aksi jual. BOW 10550
WSKT 750-810 (TP 2013F:830) Pola Bearish Harami terbentuk atas WSKT mengindikasikan Bearish Reversal. BOW 770
WIKA 2325-2475 (TP 2013F:2200) Pola Bearish Harami Cross terbentuk atas WIKA mengindikasikan Bearish Reversal. BOW 2375
JSMR 6400-6650 (TP 2013F:6475) Pola Two Black Crows terbentuk atas JSMR mengindikasikan Bearish Continuation. BOW 6450
ASII 7000-7300 (TP 2013F:6500) Pola Black Closing Marubozu terbentuk atas ASII mengindikasikan Bearish Reversal. BOW 7100
PGAS 5900-6250 (TP 2013F:6100) Pola Two Black Crows terbentuk atas PGAS mengindikasikan Bearish Continuation. BOW 6000.
IDX Composite 4927-5078
Pola Three White Soldiers terbentuk atas IDX mengindikasikan Bullish Continuation dalam perdagangan Kamis.
Friday Stocks Pick:
TLKM 11650-119000 Pola Matching High terbentuk atas TLKM mengindikasikan ketidakmenentuan arah pergerakan. BUY 11750
SMGR 18650-19150 (TP 2013F:21200) Pola Two White Soldiers terbentuk atas SMGR mengindikasikan Bullish Continuation. BUY 18850
BBRI 9150-9700 (TP 2013F:8700) Pola Black Candle terbentuk atas BBRI mengindikasikan Bearish Reversal. BOW 9250
INTP 26200-27300 (TP 2013F:26800) Pola Bearish Harami terbentuk atas INTP mengindikasikan Bearish Reversal. BOW 26400
TOTL 1030-1110 (TP 2013F:1360) Pola Bearish Harami terbentuk atas TOTL mengindikasikan Bearish Reversal. BOW 1050
BSDE 1700-1810 (TP 2013F:1790) Pola Bearish Harami terbentuk atas BSDE mengindikasikan Bearish Reversal. BOW 1740
AKRA 4950-5200 (TP 2013F:5395) Pola Dragonfly Doji terbentuk atas AKRA mengindikasikan munculnya aksi jual. BOW 5000
BBCA 10400-10800 (TP 2013F:11800) Pola Inverted Hammer diposisi bawah terbentuk atas BBCA mengindikasikan mulai kuatnya aksi jual. BOW 10550
WSKT 750-810 (TP 2013F:830) Pola Bearish Harami terbentuk atas WSKT mengindikasikan Bearish Reversal. BOW 770
WIKA 2325-2475 (TP 2013F:2200) Pola Bearish Harami Cross terbentuk atas WIKA mengindikasikan Bearish Reversal. BOW 2375
JSMR 6400-6650 (TP 2013F:6475) Pola Two Black Crows terbentuk atas JSMR mengindikasikan Bearish Continuation. BOW 6450
ASII 7000-7300 (TP 2013F:6500) Pola Black Closing Marubozu terbentuk atas ASII mengindikasikan Bearish Reversal. BOW 7100
PGAS 5900-6250 (TP 2013F:6100) Pola Two Black Crows terbentuk atas PGAS mengindikasikan Bearish Continuation. BOW 6000.
Thursday, May 2, 2013
Info Saham 1 Mei 2013
Holcim Indonesia: Weak 1Q13 results 14.4% to our' and 13.7% to consensus' estimates (SMCB, Rp3,725, Sell, TP: Rp3,000)
•SMCB reported a weak 1Q13 results booking a net profit of Rp184bn (-26.1%yoy, -58.0%qoq) which is 14.4% to our' and 13.7% to consensus' estimates. The company was hit hard on the pretax earnings level which we suspect is due to royalty cost.
•SMCB reported a weak 1Q13 results booking a net profit of Rp184bn (-26.1%yoy, -58.0%qoq) which is 14.4% to our' and 13.7% to consensus' estimates. The company was hit hard on the pretax earnings level which we suspect is due to royalty cost.
Wednesday, May 1, 2013
Info Saham 1 Mei 2013
Bekasi Fajar | Asset enhancing
BEST IJ / BEST.JK | OUTPERFORM - Maintained | Rp1,000.00 - Tgt. Rp1,100.00
Mkt.Cap: US$980.3m | Avg.Daily Vol: US$2.84m | Free Float: 20.10%
Property Devt & Invt | Author(s): Lydia TOISUTA, Linda LAUWIRA
BEST's aggressive land banking exercise has pushed up its share price significantly over the past few months. However, we believe there is still room for earnings upside with its successful execution and launch of more value-added products this year. We deem 1Q13 core profit in line at 17% of our forecast and 20% of consensus as we expect stronger margins and earnings in the quarters ahead. Based on its 2012 presales backlog, we keep our forecasts and DCF-based target price unchanged. Outperform maintained. Catalysts include stronger ASP growth.
ASP driven
BEST's core profit grew by 62% yoy to Rp167bn despite a top line growth of 6% yoy. EBITDA margin expanded to 68% from 49% following the higher ASP growth. BEST only booked 17ha of land in the 1Q13 as opposed to 30ha in 1Q12. However, implied ASP grew by 86% to Rp1.5m/sq m (US$159/sq m). Given flat cost of land, its bottom line was highly leveraged on the ASP growth. BEST still has 91ha worth of land sales in the backlog, with average land price of US$100/sqm.
As of 1Q13, the company was in a net cash position of Rp278bn. This already takes into account some land bank advances the company made during the quarter to ASRI's subsidiary. BEST has also signed an MOU with another land owner to gradually acquire land bank worth Rp276bn. Combining its existing cash and estimated EBITDA of Rp1tr in FY13, we see no need for external financing.
BEST IJ / BEST.JK | OUTPERFORM - Maintained | Rp1,000.00 - Tgt. Rp1,100.00
Mkt.Cap: US$980.3m | Avg.Daily Vol: US$2.84m | Free Float: 20.10%
Property Devt & Invt | Author(s): Lydia TOISUTA, Linda LAUWIRA
BEST's aggressive land banking exercise has pushed up its share price significantly over the past few months. However, we believe there is still room for earnings upside with its successful execution and launch of more value-added products this year. We deem 1Q13 core profit in line at 17% of our forecast and 20% of consensus as we expect stronger margins and earnings in the quarters ahead. Based on its 2012 presales backlog, we keep our forecasts and DCF-based target price unchanged. Outperform maintained. Catalysts include stronger ASP growth.
ASP driven
BEST's core profit grew by 62% yoy to Rp167bn despite a top line growth of 6% yoy. EBITDA margin expanded to 68% from 49% following the higher ASP growth. BEST only booked 17ha of land in the 1Q13 as opposed to 30ha in 1Q12. However, implied ASP grew by 86% to Rp1.5m/sq m (US$159/sq m). Given flat cost of land, its bottom line was highly leveraged on the ASP growth. BEST still has 91ha worth of land sales in the backlog, with average land price of US$100/sqm.
As of 1Q13, the company was in a net cash position of Rp278bn. This already takes into account some land bank advances the company made during the quarter to ASRI's subsidiary. BEST has also signed an MOU with another land owner to gradually acquire land bank worth Rp276bn. Combining its existing cash and estimated EBITDA of Rp1tr in FY13, we see no need for external financing.
Monday, April 29, 2013
Alam Sutera Realty (ASRI)
Alam Sutera Realty (ASRI) naik sebanyak 2.9% dengan volume sebesar 225 juta lembar pada perdagangan kemarin.
Beberapa hari yang lalu emiten mengadakan Analyst Meeting, dan point yang di garis bawahi oleh emiten antara lain:
Outlook 2013 masih positif dengan potensi kenaikan harga jual rata-rata sekitar 20%, dan target marketing sales sebesar Rp5.6 Triliun.
Penambahan landbank di Serpong Utara sebesar 170 hektar.
Pembangunan GWK akan dimulai akhir tahun 2013.
NAV/saham dari ASRI masih berkisar Rp1839/saham, saat ini ASRI masih diperdagangkan sekitar 43% diskon terhadap NAV.
Kami masih merevisi TP untuk ASRI, tapi pertumbuhan laba ASRI untuk 2013 diperkirakan masih mencapai 39%.
Konsensus analyst dari bloomberg sendiri masih memberikan nilai wajar untuk ASRI di harga Rp1170.
Beberapa hari yang lalu emiten mengadakan Analyst Meeting, dan point yang di garis bawahi oleh emiten antara lain:
Outlook 2013 masih positif dengan potensi kenaikan harga jual rata-rata sekitar 20%, dan target marketing sales sebesar Rp5.6 Triliun.
Penambahan landbank di Serpong Utara sebesar 170 hektar.
Pembangunan GWK akan dimulai akhir tahun 2013.
NAV/saham dari ASRI masih berkisar Rp1839/saham, saat ini ASRI masih diperdagangkan sekitar 43% diskon terhadap NAV.
Kami masih merevisi TP untuk ASRI, tapi pertumbuhan laba ASRI untuk 2013 diperkirakan masih mencapai 39%.
Konsensus analyst dari bloomberg sendiri masih memberikan nilai wajar untuk ASRI di harga Rp1170.
Info Saham 29 April 2013
Morning all,
Dow Jones +0,08%; Nasdaq -0,33%; dan S&P 500 -0,18%. FTSE -0,25%; DAX -0,23%; CAC40 -0,79%. Tanggal 2 Mei nanti ECB diperkirakan akan menurunkan suku bunga dari 0,75% menjadi 0,5%, yang dipicu oleh buruknya indikator ekonomi Eropa, seperti indeks PMI, tingkat pengangguran, dan indeks sentimen ekonomi. Jika ECB menurunkan suku bunga, pasar saham kami perkirakan akan terkerek naik, mengingat munculnya optimisme meningkatnya pertumbuhan ekonomi dengan adanya suku bunga rendah. Selain itu, data inflasi zona Eropa, Italia, Spanyol, dan Jerman akan menjadi data penting yang perlu diperhatikan. GDP Spanyol diperkirakan akan tetap terkontraksi 0,5%, sehingga membukukan rekor 6 bulan berturut-turut terkontraksi. Data non farm payroll Amerika yang dirilis Jumat nanti, tampaknya akan menjadi parameter, apakah sektor ketenagakerjaan Amerika dapat membaik, setelah data pengangguran bulan lalu malah meningkat menjadi 7,6%. Pertemuan FOMC yang berakhir tanggal 1 Mei nanti tampaknya tidak akan memberikan perubahan kebijakan berarti, dengan tetap mentargetkan suku bunga pada level 0-0,25%, selama tingkat pengangguran masih di atas 6,5%, dan inflasi masih di bawah 2% untuk 2 tahun ke depan. IHSG hari ini kami perkirakan akan bergerak mixed pada kisaran 4950-5050.
Data Perubahan Harga Komoditas :
− Batubara (Market Vectors Coal ETF): US$ 21,4 (-0,93%)
− Light Crude Oil : US$ 92,9 (-0,34%)
− Emas : US$ 1462,2 (-0,28%)
− Perak : US$ 24,1 (-0,8%)
− Tembaga (Copper) : US$ 3,18 (-1,7%)
− CPO : RM 2315 (+0,26%)
STI +0,09%
Rekomendasi Kemarin :
BSDE-SoS
BORN-Hold
PWON-Hold
CPIN-Hold
GWSA-Hold
BBKP-Hold
MAIN-Hold
BNGA-Hold
TOTL-Hold
INDF-Hold
SIPD-Hold
ERAA-Hold
Rekomendasi Hari ini :
DILD-BoW (560-570)-SL<550-TP+-650
KAEF-BoW (990-1000)-SL<960-TP+1100
Salam hangat,
Dow Jones +0,08%; Nasdaq -0,33%; dan S&P 500 -0,18%. FTSE -0,25%; DAX -0,23%; CAC40 -0,79%. Tanggal 2 Mei nanti ECB diperkirakan akan menurunkan suku bunga dari 0,75% menjadi 0,5%, yang dipicu oleh buruknya indikator ekonomi Eropa, seperti indeks PMI, tingkat pengangguran, dan indeks sentimen ekonomi. Jika ECB menurunkan suku bunga, pasar saham kami perkirakan akan terkerek naik, mengingat munculnya optimisme meningkatnya pertumbuhan ekonomi dengan adanya suku bunga rendah. Selain itu, data inflasi zona Eropa, Italia, Spanyol, dan Jerman akan menjadi data penting yang perlu diperhatikan. GDP Spanyol diperkirakan akan tetap terkontraksi 0,5%, sehingga membukukan rekor 6 bulan berturut-turut terkontraksi. Data non farm payroll Amerika yang dirilis Jumat nanti, tampaknya akan menjadi parameter, apakah sektor ketenagakerjaan Amerika dapat membaik, setelah data pengangguran bulan lalu malah meningkat menjadi 7,6%. Pertemuan FOMC yang berakhir tanggal 1 Mei nanti tampaknya tidak akan memberikan perubahan kebijakan berarti, dengan tetap mentargetkan suku bunga pada level 0-0,25%, selama tingkat pengangguran masih di atas 6,5%, dan inflasi masih di bawah 2% untuk 2 tahun ke depan. IHSG hari ini kami perkirakan akan bergerak mixed pada kisaran 4950-5050.
Data Perubahan Harga Komoditas :
− Batubara (Market Vectors Coal ETF): US$ 21,4 (-0,93%)
− Light Crude Oil : US$ 92,9 (-0,34%)
− Emas : US$ 1462,2 (-0,28%)
− Perak : US$ 24,1 (-0,8%)
− Tembaga (Copper) : US$ 3,18 (-1,7%)
− CPO : RM 2315 (+0,26%)
STI +0,09%
Rekomendasi Kemarin :
BSDE-SoS
BORN-Hold
PWON-Hold
CPIN-Hold
GWSA-Hold
BBKP-Hold
MAIN-Hold
BNGA-Hold
TOTL-Hold
INDF-Hold
SIPD-Hold
ERAA-Hold
Rekomendasi Hari ini :
DILD-BoW (560-570)-SL<550-TP+-650
KAEF-BoW (990-1000)-SL<960-TP+1100
Salam hangat,
Friday, April 26, 2013
RISET FR CIMB 26 APRIL 2013
RISET FR CIMB 26 APRIL 2013 :
1.Astra Agro Lestari | A time for waiting
AALI IJ / AALI.JK | NEUTRAL - Maintained | Rp17,500.00 - Tgt. Rp19,000.00
Mkt.Cap: US$2836m | Avg.Daily Vol: US$2.53m | Free Float: 20.30%
Plantations | Author(s): Erindra KRISNAWAN, Erisca WIRAATMADJA
Annualised 1Q13 earnings were slightly below expectations at 17% of our FY13 forecast and 15% of consensus as strong production was unable to offset the weaker-than-expected ASP. We take comfort in its more controlled operating costs this year despite a sharp wage hike. We cut our FY13-15 earnings by 3-5% to incorporate a higher ASP discount to our benchmark CPO price. Subsequently, we lower our target price, still based on 13.7x CY14 P/E (in line with the market). Maintain Neutral on the stock due to an unexciting CPO price outlook. (26 APRIL 2013)
2.United Tractors | Age of austerity
UNTR IJ / UNTR.JK | NEUTRAL - Maintained | Rp18,450.00 - Tgt. Rp18,900.00
Mkt.Cap: US$7082m | Avg.Daily Vol: US$9.12m | Free Float: 40.00%
Industrial Machinery | Author(s): Erindra KRISNAWAN, Erisca WIRAATMADJA
Despite already bearish expectations for 2013 growth, UT's 1Q13 earnings disappointed as the mining industry's cost saving efforts hit deeper to its historically defensive parts and maintenance business. 1Q13 core earnings came in below our and consensus expectations, at 19% of full-year forecasts due to cost saving efforts. We lower FY13-15 EPS by 3-7%, and consequently cut our target price to Rp18,900, still based on 12x CY14 P/E, a 10% discount to its 3-year average. Maintain Neutral. (25 APRIL 2013)
3.Bank Rakyat Indonesia | Fruits of expansion
BBRI IJ / BBRI.JK | NEUTRAL - Upgrade | Rp8,750.00 - Tgt. Rp9,000.00
Mkt.Cap: US$22210m | Avg.Daily Vol: US$22.96m | Free Float: 43.00%
Banks | Author(s): Erwan TEGUH, Soegiarto HADI, F
1.Astra Agro Lestari | A time for waiting
AALI IJ / AALI.JK | NEUTRAL - Maintained | Rp17,500.00 - Tgt. Rp19,000.00
Mkt.Cap: US$2836m | Avg.Daily Vol: US$2.53m | Free Float: 20.30%
Plantations | Author(s): Erindra KRISNAWAN, Erisca WIRAATMADJA
Annualised 1Q13 earnings were slightly below expectations at 17% of our FY13 forecast and 15% of consensus as strong production was unable to offset the weaker-than-expected ASP. We take comfort in its more controlled operating costs this year despite a sharp wage hike. We cut our FY13-15 earnings by 3-5% to incorporate a higher ASP discount to our benchmark CPO price. Subsequently, we lower our target price, still based on 13.7x CY14 P/E (in line with the market). Maintain Neutral on the stock due to an unexciting CPO price outlook. (26 APRIL 2013)
2.United Tractors | Age of austerity
UNTR IJ / UNTR.JK | NEUTRAL - Maintained | Rp18,450.00 - Tgt. Rp18,900.00
Mkt.Cap: US$7082m | Avg.Daily Vol: US$9.12m | Free Float: 40.00%
Industrial Machinery | Author(s): Erindra KRISNAWAN, Erisca WIRAATMADJA
Despite already bearish expectations for 2013 growth, UT's 1Q13 earnings disappointed as the mining industry's cost saving efforts hit deeper to its historically defensive parts and maintenance business. 1Q13 core earnings came in below our and consensus expectations, at 19% of full-year forecasts due to cost saving efforts. We lower FY13-15 EPS by 3-7%, and consequently cut our target price to Rp18,900, still based on 12x CY14 P/E, a 10% discount to its 3-year average. Maintain Neutral. (25 APRIL 2013)
3.Bank Rakyat Indonesia | Fruits of expansion
BBRI IJ / BBRI.JK | NEUTRAL - Upgrade | Rp8,750.00 - Tgt. Rp9,000.00
Mkt.Cap: US$22210m | Avg.Daily Vol: US$22.96m | Free Float: 43.00%
Banks | Author(s): Erwan TEGUH, Soegiarto HADI, F
Thursday, April 25, 2013
Salah satu alasan penurunan saham ASII hari ini
Salah satu alasan penurunan saham ASII hari ini :
Laba 1Q13 ASII -7,1% menjadi Rp4,3t dari Rp4,6t.
Laba divisi ;
otomotif -10%,
alat berat & mining -26%,
agribisnis -6%,
infrastruktur -19%
teknologi informasi -22%.
Jasa keuangan adalah satu-satunya divisi yang labanya tumbuh 23%.
Laba 1Q13 ASII -7,1% menjadi Rp4,3t dari Rp4,6t.
Laba divisi ;
otomotif -10%,
alat berat & mining -26%,
agribisnis -6%,
infrastruktur -19%
teknologi informasi -22%.
Jasa keuangan adalah satu-satunya divisi yang labanya tumbuh 23%.
Hasil RUPST Group Lippo
Dari hasil RUPST Group Lippo yang digelar hari ini, diputuskan pembagian Dividen sbb :
MPPA : Rp186/sh -- Dvd yield sebesar 9.3%
MLPL : Rp1/sh -- Dvd yield sebesar 0.18%
LPKR : Rp11.7/sh -- Dvd yield sebesar 0.8%
Mengenai jadwal akan ditentukan kemudian.
MPPA : Rp186/sh -- Dvd yield sebesar 9.3%
MLPL : Rp1/sh -- Dvd yield sebesar 0.18%
LPKR : Rp11.7/sh -- Dvd yield sebesar 0.8%
Mengenai jadwal akan ditentukan kemudian.
Monday, April 22, 2013
Dow Jones 22 April 2013
Morning all,
Dow Jones +0,07%; Nasdaq +1,25%; dan S&P 500 +0,88%. FTSE +0,69%; DAX -0,18%; CAC40 +1,46%. Data ekonomi yang akan dirilis minggu ini, akan berpengaruh cukup signifikan bagi bursa global. Jumlah hutang dan defisit anggota Uni Eropa resmi tahun 2012 yang dirilis oleh Eurostat, kami perkirakan menunjukkan angka yang tidak begitu baik. Perancis, tampaknya kami perkirakan gagal memenuhi target defisit sebesar 4,5% pada tahun 2012, setelah berbagai rekapitalisasi bank besar Perancis. Secara rata-rata, tingkat defisit negara Uni Eropa masih tetap lebih dari 3%. Data flash Manufacturing PMI Perancis, Jerman, dan Uni Eropa yang dirilis besok Selasa, kami perkirakan masih akan melemah, setelah tren pesanan komponen produksi juga melemah pada bulan lalu. Data indeks iklim bisnis Jerman, juga kami perkirakan akan turun tipis di kisaran angka 106-106,4. Selain data ekonomi Eropa, data ekonomi Amerika yang dirilis minggu ini juga patut dicermati. Manufaktur PMI, angka penjualan rumah, dan GDP Amerika akan menjadi sentimen bursa global minggu ini. GDP Amerika, kemungkinan akan meningkat 3% pada kuartal 1, yang dipicu oleh tingginya tingkat konsumsi domestik, termasuk penjualan otomotif. IHSG hari ini kami perkirakan akan bergerak mixed pada kisaran 4980-5010 dengan kecenderungan menguat.
Data Perubahan Harga Komoditas :
− Batubara (Market Vectors Coal ETF) : US$ 21,15 (-0,28%)
− Light Crude Oil : US$ 88,27 (-0,35%)
− Emas : US$ 1405,7 (+1,03%)
− Perak : US$ 23,24 (+0,0%)
− Tembaga (Copper) : US$ 3,15 (-1,58%)
− CPO : RM 2294 (-0,57%)
Nikkei +1,9%; STI +0,04%
Rekomendasi Kemarin :
SGRO-Hold
HRUM-Hold
ASSA-SoS
KLBF-TP
BSDE-Hold
INTA-SoS
MNCN-Hold
BORN-Hold
PWON-Hold
CPIN-Hold
Rekomendasi Hari ini :
GWSA-BoW (285-290)-SL<275-TP+-310
BBKP-BoW (940-950)-SL<900-TP+1050
Salam hangat,
Disclaimer
Online Research Division AmCapital
Wijen Pontus
www.amcapital.co.id
Dow Jones +0,07%; Nasdaq +1,25%; dan S&P 500 +0,88%. FTSE +0,69%; DAX -0,18%; CAC40 +1,46%. Data ekonomi yang akan dirilis minggu ini, akan berpengaruh cukup signifikan bagi bursa global. Jumlah hutang dan defisit anggota Uni Eropa resmi tahun 2012 yang dirilis oleh Eurostat, kami perkirakan menunjukkan angka yang tidak begitu baik. Perancis, tampaknya kami perkirakan gagal memenuhi target defisit sebesar 4,5% pada tahun 2012, setelah berbagai rekapitalisasi bank besar Perancis. Secara rata-rata, tingkat defisit negara Uni Eropa masih tetap lebih dari 3%. Data flash Manufacturing PMI Perancis, Jerman, dan Uni Eropa yang dirilis besok Selasa, kami perkirakan masih akan melemah, setelah tren pesanan komponen produksi juga melemah pada bulan lalu. Data indeks iklim bisnis Jerman, juga kami perkirakan akan turun tipis di kisaran angka 106-106,4. Selain data ekonomi Eropa, data ekonomi Amerika yang dirilis minggu ini juga patut dicermati. Manufaktur PMI, angka penjualan rumah, dan GDP Amerika akan menjadi sentimen bursa global minggu ini. GDP Amerika, kemungkinan akan meningkat 3% pada kuartal 1, yang dipicu oleh tingginya tingkat konsumsi domestik, termasuk penjualan otomotif. IHSG hari ini kami perkirakan akan bergerak mixed pada kisaran 4980-5010 dengan kecenderungan menguat.
Data Perubahan Harga Komoditas :
− Batubara (Market Vectors Coal ETF) : US$ 21,15 (-0,28%)
− Light Crude Oil : US$ 88,27 (-0,35%)
− Emas : US$ 1405,7 (+1,03%)
− Perak : US$ 23,24 (+0,0%)
− Tembaga (Copper) : US$ 3,15 (-1,58%)
− CPO : RM 2294 (-0,57%)
Nikkei +1,9%; STI +0,04%
Rekomendasi Kemarin :
SGRO-Hold
HRUM-Hold
ASSA-SoS
KLBF-TP
BSDE-Hold
INTA-SoS
MNCN-Hold
BORN-Hold
PWON-Hold
CPIN-Hold
Rekomendasi Hari ini :
GWSA-BoW (285-290)-SL<275-TP+-310
BBKP-BoW (940-950)-SL<900-TP+1050
Salam hangat,
Disclaimer
Online Research Division AmCapital
Wijen Pontus
www.amcapital.co.id
Info 22 April 2013
Dow +10.37 (0.07%), nikkei +261.34 (1.96%), oil 87.95, gold 1406, tin 20800, nickel 15320, cpo 2294. KRAS raih pendapatan Rp 2,2T namun mengalami rugi th berjalan sebesar US$ 20,435jt per Des 2012. WIKA keluarkan Rp 30M dlm pembangunan gedung Wika Satrian. GPRA kembangkan superblok di Bekasi Timur. ADHI akan bg deviden Rp 23,49/shm atau 20% dari laba bersih th buku 2012. ADRO membgkan dividen sebesar US$ 117,07 jt atau 30,38% dari laba bersih 2012.
Friday, April 19, 2013
Info TLKM 18 April 2013
TLKM mengusulkan akan bagi dividen tahun buku 2012 sebesar 55% dari laba bersih atau sebesar Rp369,082 per saham. Juga akan dibagikan dividen special 10% sebesar Rp67,106 per saham.
Total dividen 65% atau sebesar Rp436,188 per saham.
Dividen akan dibayarkan sekaligus pada 18 Juni 2013.
Selain itu TLKM berencana melakukan stock split dengan rasio 1:5, yaitu memecah dari nominal Rp250 menjadi Rp50.
Total dividen 65% atau sebesar Rp436,188 per saham.
Dividen akan dibayarkan sekaligus pada 18 Juni 2013.
Selain itu TLKM berencana melakukan stock split dengan rasio 1:5, yaitu memecah dari nominal Rp250 menjadi Rp50.
From KZ 19 April 2013
From KZ : Modernland Realty (MDLN.IJ, Buy): Modern Group to sell 5% stake.
Modern Group plans to sell 315m share, equivalent to a 5% stake in Modernland Realty (MDLN) to raise up to IDR302b (USD31m), through private placement. The offer price range is between IDR910-940/share.
Analyst Comment: Modern Group, through its subsidiary PT Bumi Perkasa Permai, owns 6.3% stake in MDLN.
The group owns few business sectors: convenience store (7 Eleven), property (MDLN), and Automotive.
On separate note, MDLN plans to issue USD150m global bond in 2H13. The proceeds will be used to finance land acquisition. Recall that MDLN is eyeing to acquire land in Bekasi, East Jakarta.
Moreover, MDLN is targeting to obtain 1,000ha of land bank in Cikande in the next three years to expand its industrial portfolio.
We expect MDLN to book a positive retained earnings starting this year, indicating an improvement and stability in the business. Reiterate BUY with a TP of IDR1,200/share, based on a 30% discount to our NAV estimates and pegged at 9.3x FY13F PER.
Modern Group plans to sell 315m share, equivalent to a 5% stake in Modernland Realty (MDLN) to raise up to IDR302b (USD31m), through private placement. The offer price range is between IDR910-940/share.
Analyst Comment: Modern Group, through its subsidiary PT Bumi Perkasa Permai, owns 6.3% stake in MDLN.
The group owns few business sectors: convenience store (7 Eleven), property (MDLN), and Automotive.
On separate note, MDLN plans to issue USD150m global bond in 2H13. The proceeds will be used to finance land acquisition. Recall that MDLN is eyeing to acquire land in Bekasi, East Jakarta.
Moreover, MDLN is targeting to obtain 1,000ha of land bank in Cikande in the next three years to expand its industrial portfolio.
We expect MDLN to book a positive retained earnings starting this year, indicating an improvement and stability in the business. Reiterate BUY with a TP of IDR1,200/share, based on a 30% discount to our NAV estimates and pegged at 9.3x FY13F PER.
Shm2 Wall Street jatuh
Dow -81.45 (0.56%), nikkei +16.76 (0.13%), oil 88.21, gold 1392, tin 20850, nickel 15650, cpo 2309. Shm2 Wall Street jatuh u/ kedua hari berturut2, ditengah laporan laba bervariasi dan sentimen suram atas indikator ekonomi baru2 ini. TINS akan jual aset yg tdk produktif senilai Rp 1T pd th ini. TINS akan jd pemegang shm mayoritas dlm tambang timahnya di Myanmar, sbg tahap awal investasi sebesar US$ 18jt. Laba triwulan I BBTN Rp 334M atau naik 6,7% dibanding periode sama th 2012. BDMN berencana bg deviden 30% dari laba 2012 yg sebesar Rp 4,01T (atau membg Rp 1,2T). Dividen ASGR sebesar Rp 61/shm dibg 28 Mei 2013 dg cum-ex: 8-10 Mei 2013. BJBR bukukan laba bersih konsolidasi Rp 371,62M hingga akhir periode Maret 2013.
HEADLINE NEWS
HEADLINE NEWS :
*DJ Saratoga Leading In Bid to Buy 41.4% Stake in Bukopin - Sources
By I Made Sentana and Linda Silaen
JAKARTA--Indonesian private equity firm Saratoga Capital is leading the race to buy 41.4% of PT Bank Bukopin (BBKP.JK), in a sale that could raise at least $410 million for the two employee groups that own it, two people familiar with the matter said Thursday.
The stake in Bukopin, a commercial bank, is the latest in a string of bank
assets put up for sale in Indonesia that has attracted strong interest both
domestically and overseas. Others that have been launched for sale include
Rabobank Group's Indonesian subsidiary, which could go for as much as $400 million, and a $1.8 billion stake in PT Bank Tabungan Pensiun Nasional (BTPN.JK) held by private-equity firm TPG Group, according to people familiar with the matter.
One of the people told Dow Jones Newswires that Jakarta-based Saratoga is offering between 1,180 rupiah ($0.12) and 1,460 rupiah for each Bukopin held by two groups--Kopelindo, a cooperative of the employees of state-owned food logistics agency Bulog, and Yabinstra, a foundation owned Bulog employees.
Bukopin shares were unchanged at 900 rupiah at 0745 GMT.
Saratoga will settle on a final price once it has finished due diligence on
the bank, the person said.
(DOW JONES NEWSWIRES)
*Bank Danamon 1Q Net Income Gains 12% to 1t Rupiah,
Net interest income rose 10% to 3.3t rupiah from yr ago, President Director Henry Ho tells reporters in Jakarta today. (BLOOMBERG)
*Total penyaluran kredit BDMN QI/13 mencapai Rp117 triliun, naik 11 persen dibanding tahun lalu.
*DJ Saratoga Leading In Bid to Buy 41.4% Stake in Bukopin - Sources
By I Made Sentana and Linda Silaen
JAKARTA--Indonesian private equity firm Saratoga Capital is leading the race to buy 41.4% of PT Bank Bukopin (BBKP.JK), in a sale that could raise at least $410 million for the two employee groups that own it, two people familiar with the matter said Thursday.
The stake in Bukopin, a commercial bank, is the latest in a string of bank
assets put up for sale in Indonesia that has attracted strong interest both
domestically and overseas. Others that have been launched for sale include
Rabobank Group's Indonesian subsidiary, which could go for as much as $400 million, and a $1.8 billion stake in PT Bank Tabungan Pensiun Nasional (BTPN.JK) held by private-equity firm TPG Group, according to people familiar with the matter.
One of the people told Dow Jones Newswires that Jakarta-based Saratoga is offering between 1,180 rupiah ($0.12) and 1,460 rupiah for each Bukopin held by two groups--Kopelindo, a cooperative of the employees of state-owned food logistics agency Bulog, and Yabinstra, a foundation owned Bulog employees.
Bukopin shares were unchanged at 900 rupiah at 0745 GMT.
Saratoga will settle on a final price once it has finished due diligence on
the bank, the person said.
(DOW JONES NEWSWIRES)
*Bank Danamon 1Q Net Income Gains 12% to 1t Rupiah,
Net interest income rose 10% to 3.3t rupiah from yr ago, President Director Henry Ho tells reporters in Jakarta today. (BLOOMBERG)
*Total penyaluran kredit BDMN QI/13 mencapai Rp117 triliun, naik 11 persen dibanding tahun lalu.
Thursday, April 18, 2013
Astra Graphia (ASGR.IJ, Buy): ASGR announced final dividen DPS 61 per share
Astra Graphia (ASGR.IJ, Buy): ASGR announced final dividen DPS 61 per share
Astra Graphia's AGM today announced 60% DPOR from 2012 net profit of IDR103b, in line with our estimate. DPS is IDR76 per share ( including interim DPS at IDR15 which was paid in Nov 2012).
Final dividend is IDR61 per shares (yield:3.3%) will be paid on 28 may 2013, recording on 14 may 2013.
We retain our BUY recommendation, TP to Rp2,125. Our TP pegs the stock at 13.8x FY13F PER.
Dividen ASGR Rp 61 per lembar.
Astra Graphia's AGM today announced 60% DPOR from 2012 net profit of IDR103b, in line with our estimate. DPS is IDR76 per share ( including interim DPS at IDR15 which was paid in Nov 2012).
Final dividend is IDR61 per shares (yield:3.3%) will be paid on 28 may 2013, recording on 14 may 2013.
We retain our BUY recommendation, TP to Rp2,125. Our TP pegs the stock at 13.8x FY13F PER.
Dividen ASGR Rp 61 per lembar.
Thursday (18/04/2013) Early BIRD Fundamental Perspective (Edwin Sebayang-MNC Securities)
Thursday (18/04/2013) Early BIRD Fundamental Perspective (Edwin Sebayang-MNC Securities)
Saat ini Dow Jones bergerak roller-coaster dimana Selasa Dow rebound tetapi Rabu Dow kembali turun cukup tajam yakni -138.19 poin (-0.94%), bahkan selama perdagangan Rabu Dow sempat turun -195 poin, diiringi kenaikan tajam The Vix sebesar +18.27% ditutup pada level 16.51 sebagai dampak mengecewakannya Earnings dan atau Revenue beberapa emiten seperti: Bank of America, Bank of New York Mellon, Apple, Intel & Yahoo serta di downgrade nya US Growth Outlook menjadi 1.9% ditahun 2013 & 4% untuk tahun 2014 oleh IMF dalam laporan terbarunya serta terus berlanjutnya kejatuhan cukup tajam harga komoditas seperti: Oil -2.65%, Gold -0.72%, Nickel -2.26%, Tin -3.46% & CPO -1.31%.
Apakah kejatuhan tajam Dow Jones & komoditas semalam dapat menghambat perjalanan IHSG menuju diatas 5.000 dengan kembali berjalan anomali seperti kejadian 2 hari lalu atau IHSG dibiarkan mengalami kejatuhan dalam perdagangan Kamis ini? ES perkirakan nampaknya IHSG berpeluang bergerak anomali kembali hari ini didorong sentimen pembagian dividen serta sedang menunggu release laporan keuangan Q1/2013 yang akan kick-off mulai Kamis ini, 18 April'13 dimotori saham sektor perbankan.
DOW 14,618.59 -0.94%
NASDAQ 3,204.67. -1.84%
OIL 86.37. -2.65%
GOLD 1,377.4. -0.72%
NICKEL.15403. -2.26%
TIN.20475. -3.46%
CPO.2254. -1.31%
TLK.48.01 (Rp 11/50)
IIT 33.31 (Rp 6470)
IDR 9709
Thursday IDX Range: 4938-5014
BUY: MAPI, TLKM, BMRI, PGAS, BBCA, WIKA, SMGR, PTPP, BSDE, INTP, SMRA, ICBP
Saat ini Dow Jones bergerak roller-coaster dimana Selasa Dow rebound tetapi Rabu Dow kembali turun cukup tajam yakni -138.19 poin (-0.94%), bahkan selama perdagangan Rabu Dow sempat turun -195 poin, diiringi kenaikan tajam The Vix sebesar +18.27% ditutup pada level 16.51 sebagai dampak mengecewakannya Earnings dan atau Revenue beberapa emiten seperti: Bank of America, Bank of New York Mellon, Apple, Intel & Yahoo serta di downgrade nya US Growth Outlook menjadi 1.9% ditahun 2013 & 4% untuk tahun 2014 oleh IMF dalam laporan terbarunya serta terus berlanjutnya kejatuhan cukup tajam harga komoditas seperti: Oil -2.65%, Gold -0.72%, Nickel -2.26%, Tin -3.46% & CPO -1.31%.
Apakah kejatuhan tajam Dow Jones & komoditas semalam dapat menghambat perjalanan IHSG menuju diatas 5.000 dengan kembali berjalan anomali seperti kejadian 2 hari lalu atau IHSG dibiarkan mengalami kejatuhan dalam perdagangan Kamis ini? ES perkirakan nampaknya IHSG berpeluang bergerak anomali kembali hari ini didorong sentimen pembagian dividen serta sedang menunggu release laporan keuangan Q1/2013 yang akan kick-off mulai Kamis ini, 18 April'13 dimotori saham sektor perbankan.
DOW 14,618.59 -0.94%
NASDAQ 3,204.67. -1.84%
OIL 86.37. -2.65%
GOLD 1,377.4. -0.72%
NICKEL.15403. -2.26%
TIN.20475. -3.46%
CPO.2254. -1.31%
TLK.48.01 (Rp 11/50)
IIT 33.31 (Rp 6470)
IDR 9709
Thursday IDX Range: 4938-5014
BUY: MAPI, TLKM, BMRI, PGAS, BBCA, WIKA, SMGR, PTPP, BSDE, INTP, SMRA, ICBP
18 April 2013
18 April
• Cum Dev BJTM Rp 39,7384
• Cum Stock Split JPFA 1:5
• Akhir perdagangan TRIM-R 1:1 Rp80
• ASIAN BOND FUND - Indonesia RUPUP
• RUPS/LB : WSKT, ASGR, HMSP, TINS, TGKA, TURI,
• ENRG PMT HMETD (10% atau 4.058.411.000 lbr, harga pelaksanaan Rp 100) Tanggal Penerbitan Saham Baru : 18 April 2013
• We expect weak 1Q13 result to be announced on 18 April 2013. Our recent talk with Bank Danamon (BDMN.IJ) confirmed our view that the bank will follow a similar trend as Adira Finance, which saw 11% YoY drop in consumer financing to IDR7t in 1Q13.
• Initial Claims, Continuing Claims, Philadelphia Fed, Leading Indicators, Natural Gas Inventories
19 April
• RUPS/LB : TRIO, ADRO, TMAS, TLKM (akan usulkan pembagian dividen tunai 65% dari laba bersih sekitar Rp414/saham), ADHI
• Stock split JPFA akan resmi pada 19 April 2013.
• Cum Dev DKFT Rp 50/saham
• ENRG PMT HMETD (10% atau 4.058.411.000 lbr, harga pelaksanaan Rp 100) Tanggal Pencatatan saham baru PMT -HMETD : 19 April 2013
22 April
• RUPS/LB : BNII, WOMF, UNTR
• ENRG PMT HMETD (10% atau 4.058.411.000 lbr, harga pelaksanaan Rp 100) Pemberitahuan hasil pelaksanaan PMT HMETD : 22 April 2013
23 April
• Lelang SBN
• Cum Dev SDRA Rp 18
• BHIT mau roadshow ke Singapore-Hongkong-London dan New York tgl 17-23 April 2013
• RUPSLB/T : AALI, INCO, BNLI-LPPF : periode pelaksanaan rencana stabilisasi sejak 25 Maret 2013 sampai dengan 23 April 2013
• 1Q'13 ASRI kemungkinan besar dirilis antara tgl 23-25 April
24 April
• Cum Dev SMCB Rp48
• Cum Right Issue AUTO Rasia 20-40:100 (Rp 3.100)
• RUPS/LB : LPKR, ARTI (salah satu agenda penurunan nilai nominal), MLPL, MFMI, MPPA, TCID, GMTD, LPKR, LPPS, STAR PACIFIC (LPLI), MULTI PRIMA SEJAHTERA (LPIN), LPGI, LPCK, SCPI, TCID,
• Bumi Plc baru akan melaporkan kinerja keuangan,
25 April
• RUPS/LB : WIKA, PTBA, PIONEERINDO/PTSP, LMAS, CSAP (PUBEX), KBLV, ASII,
• 1Q'13 ASRI kemungkinan besar dirilis antara tgl 23-25 April
• Cum Dev BJTM Rp 39,7384
• Cum Stock Split JPFA 1:5
• Akhir perdagangan TRIM-R 1:1 Rp80
• ASIAN BOND FUND - Indonesia RUPUP
• RUPS/LB : WSKT, ASGR, HMSP, TINS, TGKA, TURI,
• ENRG PMT HMETD (10% atau 4.058.411.000 lbr, harga pelaksanaan Rp 100) Tanggal Penerbitan Saham Baru : 18 April 2013
• We expect weak 1Q13 result to be announced on 18 April 2013. Our recent talk with Bank Danamon (BDMN.IJ) confirmed our view that the bank will follow a similar trend as Adira Finance, which saw 11% YoY drop in consumer financing to IDR7t in 1Q13.
• Initial Claims, Continuing Claims, Philadelphia Fed, Leading Indicators, Natural Gas Inventories
19 April
• RUPS/LB : TRIO, ADRO, TMAS, TLKM (akan usulkan pembagian dividen tunai 65% dari laba bersih sekitar Rp414/saham), ADHI
• Stock split JPFA akan resmi pada 19 April 2013.
• Cum Dev DKFT Rp 50/saham
• ENRG PMT HMETD (10% atau 4.058.411.000 lbr, harga pelaksanaan Rp 100) Tanggal Pencatatan saham baru PMT -HMETD : 19 April 2013
22 April
• RUPS/LB : BNII, WOMF, UNTR
• ENRG PMT HMETD (10% atau 4.058.411.000 lbr, harga pelaksanaan Rp 100) Pemberitahuan hasil pelaksanaan PMT HMETD : 22 April 2013
23 April
• Lelang SBN
• Cum Dev SDRA Rp 18
• BHIT mau roadshow ke Singapore-Hongkong-London dan New York tgl 17-23 April 2013
• RUPSLB/T : AALI, INCO, BNLI-LPPF : periode pelaksanaan rencana stabilisasi sejak 25 Maret 2013 sampai dengan 23 April 2013
• 1Q'13 ASRI kemungkinan besar dirilis antara tgl 23-25 April
24 April
• Cum Dev SMCB Rp48
• Cum Right Issue AUTO Rasia 20-40:100 (Rp 3.100)
• RUPS/LB : LPKR, ARTI (salah satu agenda penurunan nilai nominal), MLPL, MFMI, MPPA, TCID, GMTD, LPKR, LPPS, STAR PACIFIC (LPLI), MULTI PRIMA SEJAHTERA (LPIN), LPGI, LPCK, SCPI, TCID,
• Bumi Plc baru akan melaporkan kinerja keuangan,
25 April
• RUPS/LB : WIKA, PTBA, PIONEERINDO/PTSP, LMAS, CSAP (PUBEX), KBLV, ASII,
• 1Q'13 ASRI kemungkinan besar dirilis antara tgl 23-25 April
RISET FR CIMB 18 APRIL 2013
RISET FR CIMB 18 APRIL 2013 :
1.Autos | Robust quarter
OVERWEIGHT - Maintained
by Cindy EFFENDI, Peter P. SUTEDJA, CFA
1Q13 car sales were close to a record-high, while motorcycle sales appeared to have recovered despite LTV implementation for sharia financing. Astra lost market share in cars but gained for motorcycles. A mid-term boost for its cars may come from LCGC approval. This explains our upgrade of Astra to Outperform from Neutral. Still, we cut its FY14-15 EPS by 1-3% for downside at Astra Agro and United Tractors. Accordingly, our target price drops to Rp8,800 (from Rp9k), still based on 15x CY14 P/E, +1SD above its 3-year mean. Maintain Overweight on the sector with catalysts from low cost green car approval and Astra remains as our top pick, pioneering the move.
Sector Comparisons :
ASII OUTPERFORM TP 8,800
SMSM OUTPERFORM TP 2,900
(17 APRIL 2013)
2.Banks | Basel III could weigh on growth
OVERWEIGHT - Maintained
by Trevor KALCIC, CFA, Lydia XU, Hans FAN, CFA
We think some features of Basel III are ill suited to Asian banking markets and take a cautious view on its adoption across Asia this year. Sector growth could be weighed down by rising liquidity premiums (biggest ST concern), potential balance sheet pressures (mid-term worry) and ongoing constraints on cross-border business (structural). Our base-case FY12-14 sector earnings CAGR is 10.3%. In an alternative scenario, CAGR could slow by 1.5% pts to 8.8%. Banks in Australia, Korea, Malaysia, Singapore and Thailand could be most negatively impacted. Banks in China, India and Indonesia seem better positioned. We Overweight Asian banks with preferences for China, Korea and Indonesia.
--------------------------
1.Autos | Robust quarter
OVERWEIGHT - Maintained
by Cindy EFFENDI, Peter P. SUTEDJA, CFA
1Q13 car sales were close to a record-high, while motorcycle sales appeared to have recovered despite LTV implementation for sharia financing. Astra lost market share in cars but gained for motorcycles. A mid-term boost for its cars may come from LCGC approval. This explains our upgrade of Astra to Outperform from Neutral. Still, we cut its FY14-15 EPS by 1-3% for downside at Astra Agro and United Tractors. Accordingly, our target price drops to Rp8,800 (from Rp9k), still based on 15x CY14 P/E, +1SD above its 3-year mean. Maintain Overweight on the sector with catalysts from low cost green car approval and Astra remains as our top pick, pioneering the move.
Sector Comparisons :
ASII OUTPERFORM TP 8,800
SMSM OUTPERFORM TP 2,900
(17 APRIL 2013)
2.Banks | Basel III could weigh on growth
OVERWEIGHT - Maintained
by Trevor KALCIC, CFA, Lydia XU, Hans FAN, CFA
We think some features of Basel III are ill suited to Asian banking markets and take a cautious view on its adoption across Asia this year. Sector growth could be weighed down by rising liquidity premiums (biggest ST concern), potential balance sheet pressures (mid-term worry) and ongoing constraints on cross-border business (structural). Our base-case FY12-14 sector earnings CAGR is 10.3%. In an alternative scenario, CAGR could slow by 1.5% pts to 8.8%. Banks in Australia, Korea, Malaysia, Singapore and Thailand could be most negatively impacted. Banks in China, India and Indonesia seem better positioned. We Overweight Asian banks with preferences for China, Korea and Indonesia.
--------------------------
Wednesday, April 17, 2013
DJARUM BELI DILD
DJARUM BELI DILD
Rabu , 17 april 2013 l 11.45 wib l
Jakarta - Group Djarum akan membeli saham milik DILD sejumlah 25%. Di duga pembelian ini terkait group Djarum yg mulai merambah bisnis property.
Beberapa sumber mengatakan Djarum mengincar lahan di Kebun Melati di belakang Grand Indonesia serta Industrial Land ngoro di Jawa timur untuk membuat pabrik antara POLYTRON dan FOXCOON.
Tidak mengherankan apabila Jones Lang ikut merevaluasi asset DILD.
Group Djarum melalui BCA jg turut aktif memberikan pinjaman kepada bisnis DILD. Saat ini DILD merupakan pengembang terpesat dan masih memiliki land bank yg banyak dan terbesar di sektor property.( Disc-ON)
Rabu , 17 april 2013 l 11.45 wib l
Jakarta - Group Djarum akan membeli saham milik DILD sejumlah 25%. Di duga pembelian ini terkait group Djarum yg mulai merambah bisnis property.
Beberapa sumber mengatakan Djarum mengincar lahan di Kebun Melati di belakang Grand Indonesia serta Industrial Land ngoro di Jawa timur untuk membuat pabrik antara POLYTRON dan FOXCOON.
Tidak mengherankan apabila Jones Lang ikut merevaluasi asset DILD.
Group Djarum melalui BCA jg turut aktif memberikan pinjaman kepada bisnis DILD. Saat ini DILD merupakan pengembang terpesat dan masih memiliki land bank yg banyak dan terbesar di sektor property.( Disc-ON)
RISET FR CIMB 17 APRIL 2013
RISET FR CIMB 17 APRIL 2013 :
1.Plantations | A less fruitful outlook
NEUTRAL - Maintained
by Erindra KRISNAWAN, Erisca WIRAATMADJA
Cost pressure remains a key risk and sector profitability has been dented by our recent earnings cuts for Indonesian planters on the heels of a CPO price downgrade. But the sector's lower returns are priced in as the sell-off has taken EV/ha to the low end of market transactions. We remain Neutral on the Indonesian plantation sector as the CPO price outlook is less upbeat and production costs are on the rise. We now prefer planters with strong output growth and better estate profitability which will mitigate margin erosion from weaker prices and higher labour costs. This is the reason why BW Plantation (BWPT) is our top pick.
Sector Comparisons :
AALI Neutral TP 19,900
BWPT Outperform TP 1,500
LSIP Neutral TP 2,000
SIMP Neutral TP 1,058
SGRO Neutral TP 2,250
(16 April 2013)
2.Alpha Edge | Gold breaks its legs by Nigel FOO,
Gold's key support trendline gave way at the end of last week with prices cascading a shocking 14% in only two trading days. There is further downside for gold, in our reckoning. The Continuous Commodity Index's weekly chart shows the index in a sideways channel consolidation since last Sep with support at 500 and 525. We remain bullish on crude oil as long as prices do not fall below US$84/barrel. (ASIA - 16 April 2013)
---------------------------------------
1.Plantations | A less fruitful outlook
NEUTRAL - Maintained
by Erindra KRISNAWAN, Erisca WIRAATMADJA
Cost pressure remains a key risk and sector profitability has been dented by our recent earnings cuts for Indonesian planters on the heels of a CPO price downgrade. But the sector's lower returns are priced in as the sell-off has taken EV/ha to the low end of market transactions. We remain Neutral on the Indonesian plantation sector as the CPO price outlook is less upbeat and production costs are on the rise. We now prefer planters with strong output growth and better estate profitability which will mitigate margin erosion from weaker prices and higher labour costs. This is the reason why BW Plantation (BWPT) is our top pick.
Sector Comparisons :
AALI Neutral TP 19,900
BWPT Outperform TP 1,500
LSIP Neutral TP 2,000
SIMP Neutral TP 1,058
SGRO Neutral TP 2,250
(16 April 2013)
2.Alpha Edge | Gold breaks its legs by Nigel FOO,
Gold's key support trendline gave way at the end of last week with prices cascading a shocking 14% in only two trading days. There is further downside for gold, in our reckoning. The Continuous Commodity Index's weekly chart shows the index in a sideways channel consolidation since last Sep with support at 500 and 525. We remain bullish on crude oil as long as prices do not fall below US$84/barrel. (ASIA - 16 April 2013)
---------------------------------------
Wednesday (17/04/2013) Early BIRD Fundamental Perspective (Edwin Sebayang-MNC Securities)
Wednesday (17/04/2013) Early BIRD Fundamental Perspective (Edwin Sebayang-MNC Securities)
Faktor kuatnya pertumbuhan earnings Coca-Cola, Johnson & Johnson serta Goldman Sachs ditengah tajamnya kenaikan data New Home Sales kelevel tertinggi sejak tahun 2008 diiringi kenaikan Industrial Production bulan Mei diiiringi turunnya CPI bulan Maret pertama kali selama 4 bulan terakhir karena turunnya biaya bahan bakar sehingga lebih memberikan ruang The Fed untuk mempertahankan kebijakan uang murah, menjadi pendorong Dow Jones bounce back cukup tajam sebesar +157.58 poin (+1.08%) diiringi kejatuhan tajam The Vix sebesar -19.17% ditutup pada level 13.96.
Tajamnya kenaikan Dow Jones ternyata tidak diikuti kenaikan tajam di sektor komoditas terlebih komoditas gold yang lebih dikonfirmasi berpotensi menuju level USD 1200/OZ setelah data US CPI bulan Maret justru mengalami penurunan.
Setelah berhasil melewati gunjangan eksternal dengan sukses, ES memperkirakan IHSG akan melanjutkan penguatannya dalam perdagangan Rabu ini & hanya masalah waktu untuk IHSG akan mencapai dan melewati level 5,000 terlebih release Laporan Keuangan Q1/2013 akan kick-off Kamis 18 April dimotori saham sektor perbankan dimana diperkirakan pertumbuhan revenue & earnings sektor tersebut masih cukup kuat serta annoucement pembagian dividen yg cukup besar dimana salah satunya adalah emiten TLKM yang mengusulkan pembagian dividen tunai 65% dari laba bersih atau sekitar Rp414/saham.
DOW 14,756.78. +1.08%
OIL 88.72 -0.01%
GOLD 1,387.4 -1.93%
NICKEL.15760. +0.25%
TIN.21210. -0.3%
CPO.2284. -0.7%
TLK.47.41 (Rp 11515)
IIT 33.73 (Rp 6555)
Wednesday IDX Range: 4885-4977
BUY: ITMG, TLKM, ASII, BMRI, TOTL, PGAS, BBCA, WIKA, SMGR, PTPP, BSDE, INTP, WSKT
Faktor kuatnya pertumbuhan earnings Coca-Cola, Johnson & Johnson serta Goldman Sachs ditengah tajamnya kenaikan data New Home Sales kelevel tertinggi sejak tahun 2008 diiringi kenaikan Industrial Production bulan Mei diiiringi turunnya CPI bulan Maret pertama kali selama 4 bulan terakhir karena turunnya biaya bahan bakar sehingga lebih memberikan ruang The Fed untuk mempertahankan kebijakan uang murah, menjadi pendorong Dow Jones bounce back cukup tajam sebesar +157.58 poin (+1.08%) diiringi kejatuhan tajam The Vix sebesar -19.17% ditutup pada level 13.96.
Tajamnya kenaikan Dow Jones ternyata tidak diikuti kenaikan tajam di sektor komoditas terlebih komoditas gold yang lebih dikonfirmasi berpotensi menuju level USD 1200/OZ setelah data US CPI bulan Maret justru mengalami penurunan.
Setelah berhasil melewati gunjangan eksternal dengan sukses, ES memperkirakan IHSG akan melanjutkan penguatannya dalam perdagangan Rabu ini & hanya masalah waktu untuk IHSG akan mencapai dan melewati level 5,000 terlebih release Laporan Keuangan Q1/2013 akan kick-off Kamis 18 April dimotori saham sektor perbankan dimana diperkirakan pertumbuhan revenue & earnings sektor tersebut masih cukup kuat serta annoucement pembagian dividen yg cukup besar dimana salah satunya adalah emiten TLKM yang mengusulkan pembagian dividen tunai 65% dari laba bersih atau sekitar Rp414/saham.
DOW 14,756.78. +1.08%
OIL 88.72 -0.01%
GOLD 1,387.4 -1.93%
NICKEL.15760. +0.25%
TIN.21210. -0.3%
CPO.2284. -0.7%
TLK.47.41 (Rp 11515)
IIT 33.73 (Rp 6555)
Wednesday IDX Range: 4885-4977
BUY: ITMG, TLKM, ASII, BMRI, TOTL, PGAS, BBCA, WIKA, SMGR, PTPP, BSDE, INTP, WSKT
Info Stock 17 Apr 2013
Good morning,
Stocks finished near session highs Tuesday, recovering losses from their biggest one-day drop this year, boosted by a batch of upbeat earnings results and some better-than-expected economic reports.
Interestingly, Tuesday has been the best day of the week for the Dow this year, up 0.41 percent on average. In fact, the blue-chip index closed down on a Tuesday only once this year. The second best day of the week for the index has been Friday, with an average gain of 0.33 percent. Meanwhile, the worst day has been Monday, down 0.36 percent on average.
The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, slumped below 13.
Disappointing gross domestic product data from China on Monday sparked a sell-off in commodities, which fed through to global equity markets.
Gold rebounded after falling to two-year lows in the previous session. Gold mining companies including Gold Fields, Harmony Gold Mining and Newmont also recovered.
Dow 14756 +157.6 +1.08%
Nasdaq 3264 +48.1 +1.50%
S&P 500 1574 +22.2 +1.43%
FTSE 6304 -39.0 -0.62%
Dax 7628 -30.1 -0.39%
CAC40 3685 -24.7 -0.67%
VIX. 13.96 -3.31 -19.2%
USD Index 81.82 -0.59 -0.73%
(DXY)
Oil. 88.72 +0.01 +0.01%
Gold. 1368.85 +20.9 +1.55%
IDR. 9720(source: yahoo finance)
Euro. 1.3183
TLKM. 47.41 +2.00+4.40%Rp11520
ISAT. 33.66 +0.61+1.85%Rp6543
BumiPlc 257.90 +8.40 +3.37%
EIDO. 34.66 +1.16 +3.46%
Timah. 21110 -65 -0.31%
Nickel. 15690 +70 +0.41%
CPO. 2301RM+7+0.30%$756
Corn. 640.75+12.75+2.03%
SoybeanOil 49.07+0.71 +1.47%
Wheat. 707.75+8.50 +1.22%
DOC(15 Apr)5000 -500 -9.10%
Stocks finished near session highs Tuesday, recovering losses from their biggest one-day drop this year, boosted by a batch of upbeat earnings results and some better-than-expected economic reports.
Interestingly, Tuesday has been the best day of the week for the Dow this year, up 0.41 percent on average. In fact, the blue-chip index closed down on a Tuesday only once this year. The second best day of the week for the index has been Friday, with an average gain of 0.33 percent. Meanwhile, the worst day has been Monday, down 0.36 percent on average.
The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, slumped below 13.
Disappointing gross domestic product data from China on Monday sparked a sell-off in commodities, which fed through to global equity markets.
Gold rebounded after falling to two-year lows in the previous session. Gold mining companies including Gold Fields, Harmony Gold Mining and Newmont also recovered.
Dow 14756 +157.6 +1.08%
Nasdaq 3264 +48.1 +1.50%
S&P 500 1574 +22.2 +1.43%
FTSE 6304 -39.0 -0.62%
Dax 7628 -30.1 -0.39%
CAC40 3685 -24.7 -0.67%
VIX. 13.96 -3.31 -19.2%
USD Index 81.82 -0.59 -0.73%
(DXY)
Oil. 88.72 +0.01 +0.01%
Gold. 1368.85 +20.9 +1.55%
IDR. 9720(source: yahoo finance)
Euro. 1.3183
TLKM. 47.41 +2.00+4.40%Rp11520
ISAT. 33.66 +0.61+1.85%Rp6543
BumiPlc 257.90 +8.40 +3.37%
EIDO. 34.66 +1.16 +3.46%
Timah. 21110 -65 -0.31%
Nickel. 15690 +70 +0.41%
CPO. 2301RM+7+0.30%$756
Corn. 640.75+12.75+2.03%
SoybeanOil 49.07+0.71 +1.47%
Wheat. 707.75+8.50 +1.22%
DOC(15 Apr)5000 -500 -9.10%
Tuesday, April 16, 2013
Early BIRD Fundamental Perspective (Edwin Sebayang-MNC Securities)
Tuesday (16/04/2013) Early BIRD Fundamental Perspective (Edwin Sebayang-MNC Securities)
"...Fasten Your Seatbelt, We're Entering Turbulance Area..."
Kombinasi melambatnya kecepatan pertumbuhan Manufacturing in New York State yg tumbuh 3.05 di bln April, jauh lebih lambat dr kecepatan di bln Maret yg tumbuh 9.24 serta VS konsensus yg mengharapkan tumbuh pd level 7 & data Homebuilder Sentiment yg jatuh utk bln ke-3 di bln April, turun mjd 42 dr sebelumnya 44 di bln Maret serta Mengecewakannya GDP China Q1/2013 yg hanya tumbuh 7.7% dibandingkan ekspektasi pelaku pasar GDP China akan tumbuh 8% serta lebih rendah dari GDP kuartal 4/2012 serta adanya ledakan yg tjd dlm Boston Marathon yg menyebabkan 2 orang tewas & 28 orang terluka mjd faktor penyebab Dow Jones TURUN TERTAJAM dlm 1 hari perdagangan selama thn 2013 sebesar -265.86 poin (-1.79%) diiringi KENAIKAN TERTAJAM The VIX di thn 2013 sebesar +43.2% ditutup pd level 17.27.
Kejatuhan Tajam jg melanda Pasar Komoditas terutama didorong mengecewakannya data GDP China Q1/2013 padahal China mjd buyer terbesar ke 2 utk Gold & Oil dmn Gold kembali TURUN TAJAM -10.22% ($-153.5) menjadi $1347.9/OZ atau setara Rp 410,500/gram jika menggunakan Rp 9715/USD serta turunnya Oil sebesar Rp 4.15% ditutup pd harga USD87.5/barrel.
Bursa Indonesia dlm perdagangan Selasa ini, ES perkirakan berpotensi mengalami guncangan sbg dampak kejatuhan tajam Dow Jones & harga komoditas, tetapi menurut ES kejatuhan tajam harga komoditas BAGUS utk perekonomian Indonesia dmn itu artinya dpt mengurangi tekanan inflasi & defisit anggaran shg sangat menguntungkan utk saham sektor perbankan, property, konstruksi, semen & consumer.
DOW 14,599.2. -1.79%
OIL 87.5 -4.15%
GOLD 1,347.9 -10.22%
NICKEL.15720. -0.86%
TIN.21275. -3.18%
CPO.2300. -0.22%
TLK.45.43 (Rp 11030)
IIT 33.05 (Rp 6420)
Tuesday IDX Range: 4848-4915
BUY: MAPI, KLBF, PTPP
BOW: ITMG, BBCA, BSDE, BMRI, SMGR, SMGR, UNTR, GGRM, AKRA, ASII, PGAS, INTP
"...Fasten Your Seatbelt, We're Entering Turbulance Area..."
Kombinasi melambatnya kecepatan pertumbuhan Manufacturing in New York State yg tumbuh 3.05 di bln April, jauh lebih lambat dr kecepatan di bln Maret yg tumbuh 9.24 serta VS konsensus yg mengharapkan tumbuh pd level 7 & data Homebuilder Sentiment yg jatuh utk bln ke-3 di bln April, turun mjd 42 dr sebelumnya 44 di bln Maret serta Mengecewakannya GDP China Q1/2013 yg hanya tumbuh 7.7% dibandingkan ekspektasi pelaku pasar GDP China akan tumbuh 8% serta lebih rendah dari GDP kuartal 4/2012 serta adanya ledakan yg tjd dlm Boston Marathon yg menyebabkan 2 orang tewas & 28 orang terluka mjd faktor penyebab Dow Jones TURUN TERTAJAM dlm 1 hari perdagangan selama thn 2013 sebesar -265.86 poin (-1.79%) diiringi KENAIKAN TERTAJAM The VIX di thn 2013 sebesar +43.2% ditutup pd level 17.27.
Kejatuhan Tajam jg melanda Pasar Komoditas terutama didorong mengecewakannya data GDP China Q1/2013 padahal China mjd buyer terbesar ke 2 utk Gold & Oil dmn Gold kembali TURUN TAJAM -10.22% ($-153.5) menjadi $1347.9/OZ atau setara Rp 410,500/gram jika menggunakan Rp 9715/USD serta turunnya Oil sebesar Rp 4.15% ditutup pd harga USD87.5/barrel.
Bursa Indonesia dlm perdagangan Selasa ini, ES perkirakan berpotensi mengalami guncangan sbg dampak kejatuhan tajam Dow Jones & harga komoditas, tetapi menurut ES kejatuhan tajam harga komoditas BAGUS utk perekonomian Indonesia dmn itu artinya dpt mengurangi tekanan inflasi & defisit anggaran shg sangat menguntungkan utk saham sektor perbankan, property, konstruksi, semen & consumer.
DOW 14,599.2. -1.79%
OIL 87.5 -4.15%
GOLD 1,347.9 -10.22%
NICKEL.15720. -0.86%
TIN.21275. -3.18%
CPO.2300. -0.22%
TLK.45.43 (Rp 11030)
IIT 33.05 (Rp 6420)
Tuesday IDX Range: 4848-4915
BUY: MAPI, KLBF, PTPP
BOW: ITMG, BBCA, BSDE, BMRI, SMGR, SMGR, UNTR, GGRM, AKRA, ASII, PGAS, INTP
RISET FR CIMB 16 APRIL 2013
RISET FR CIMB 16 APRIL 2013 :
1.Cement | Leadership restored
OVERWEIGHT - Maintained
by Lydia TOISUTA,
The market is likely to react positively again to SMGR's best sales volume in 1Q13. Near term, there could be selling pressure from a macro-tightening bias although this may not be as severe as in 2011. We expect high utilisation rates and ASPs to provide sector catalysts. Maintain Overweight on the cement sector. Unlike 2011, the cement sector has better bargaining power on the back of high demand; the boom in high-rise buildings; and major multi-year projects. Our top pick is SMGR. (15 April 2013)
2.ASIA PACIFIC Sector Note
ASIAN Banks Weekly | Confusing China macro data; BOQ stock of the week
OVERWEIGHT - Maintained
by Trevor KALCIC, CFA, Lydia XU, Hans FAN, CFA
The past week saw a slew of macro data from China. The most notable points were the slightly weaker-than-expected GDP data and a surge in Total Social Financing (TSF) in the face of middling economic conditions. Our caution on Australian banks continues with a downgrade of Bank of Queensland to Neutral. We are Overweight on Asian banks. China, Korea and Indonesia are our top country picks and ICBC, CCB, Shinhan, BS Financial and Mandiri are our top stock picks. (15 April 2013)
3.ASIA Sector Note
Weekly Realty Check | S-REITs' 1Q preview
by Donald CHUA, Siew Ling TAN
We preview 1Q13 results for S-REITs in this week's Realty Check. We expect stable performances with some dilution from recent equity issuances. REITs with un-hedged yen exposure could suffer forex losses while industrial REITs should report asset-value gains. We retain our Underweight position on S-REITs on valuations. We believe Singapore developers offer better value; our top picks are OUE, UOL and GLP. We make no changes to our regional picks: Indonesia and Thailand remain our Overweight markets.
(15 April 2013)
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1.Cement | Leadership restored
OVERWEIGHT - Maintained
by Lydia TOISUTA,
The market is likely to react positively again to SMGR's best sales volume in 1Q13. Near term, there could be selling pressure from a macro-tightening bias although this may not be as severe as in 2011. We expect high utilisation rates and ASPs to provide sector catalysts. Maintain Overweight on the cement sector. Unlike 2011, the cement sector has better bargaining power on the back of high demand; the boom in high-rise buildings; and major multi-year projects. Our top pick is SMGR. (15 April 2013)
2.ASIA PACIFIC Sector Note
ASIAN Banks Weekly | Confusing China macro data; BOQ stock of the week
OVERWEIGHT - Maintained
by Trevor KALCIC, CFA, Lydia XU, Hans FAN, CFA
The past week saw a slew of macro data from China. The most notable points were the slightly weaker-than-expected GDP data and a surge in Total Social Financing (TSF) in the face of middling economic conditions. Our caution on Australian banks continues with a downgrade of Bank of Queensland to Neutral. We are Overweight on Asian banks. China, Korea and Indonesia are our top country picks and ICBC, CCB, Shinhan, BS Financial and Mandiri are our top stock picks. (15 April 2013)
3.ASIA Sector Note
Weekly Realty Check | S-REITs' 1Q preview
by Donald CHUA, Siew Ling TAN
We preview 1Q13 results for S-REITs in this week's Realty Check. We expect stable performances with some dilution from recent equity issuances. REITs with un-hedged yen exposure could suffer forex losses while industrial REITs should report asset-value gains. We retain our Underweight position on S-REITs on valuations. We believe Singapore developers offer better value; our top picks are OUE, UOL and GLP. We make no changes to our regional picks: Indonesia and Thailand remain our Overweight markets.
(15 April 2013)
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