Category Archives: Review

Rekap Laba (-Rugi) Bersih Emiten 1Q15 vs 1Q14:

»» Bank
• BMRI Rp5.14t vs Rp4.92t(+4.47%)
• BBCA Rp4.1t vs Rp3.7t(+10.8%)
• BBNI Rp2.82t vs Rp2.39t(+17.99%)
• BDMN Rp687m vs Rp874m(-21.4%)
• PNBN Rp588m vs Rp675m(-12.9%)
• BNLI Rp567m vs Rp367m(+54.5%)
• BBTN Rp402m vs Rp341m(+17.9%)
• BJBR Rp385m vs Rp325m(+18.5%)
• NISP Rp372m vs Rp341m(+9.1%)
• BJTM Rp257m vs Rp312m(-17.6%)
• BNII Rp255m vs Rp191m((+33.5%)
• BNGA Rp82.7m vs Rp1.09t(-24.1%)
• BSIM Rp47.0m vs Rp36.3m(+29.5%)
• BVIC Rp32.4m vs Rp42.1m(-23%)
• PNBS Rp18.5m vs Rp10.6m(+74.5%)
• BABP Rp0.82m vs -Rp6.70m

»» Insurance, Finance
• BFIN Rp147m vs Rp130m(+13.1%)
• CFIN Rp95.1m vs Rp97.8m(-27.6%)
• AHAP Rp2.09m vs Rp3.04m(-31.25%)

»» Infrastructure Related
• SMGR Rp1.19t vs Rp1.31t(-9.16%)
• JSMR Rp329m vs Rp376m(-12.5%)
• SMBR Rp74.5mvsRp73.3m(+1.64%)

»» Construction
• TOTL Rp52.4m vs Rp35.4m(+48%)
• ACST Rp12.1m vs Rp22.4m(-46%)

»» Property & Related
• MDLN Rp181m vs Rp390m(-53.6%)
• MTLA Rp59.7m vs Rp53.5m(+11.6%)
• NIRO Rp19.7m vs Rp3.8m(+418%)
• SHID -Rp5.92m vs Rp3.09m

»» Consumer Related
• HMSP Rp2.89t vs Rp2.75t(+5.1%)
• UNVR Rp1.59t vs Rp1.36t(+16.9%)
• ROTI Rp67.1m vs Rp61.2m(+9.6%)
• TCID Rp62.3m vs Rp62.7m(-0.63%)
• DVLA Rp59.8m vs -Rp17.4m
• KAEF Rp43.9m vs Rp23.3m(+88.4%)
• MBTO Rp2.58m vs Rp2.49m(+3.6%)

»» Retail, Trade & Related
• LPPF Rp185m vs Rp123mt(+50.4%)
• ERAA Rp70.6m vs Rp80.1m(-11.9%)
• ASGR Rp47.5m vs Rp33.1m(+43.5%)
• MTDL Rp34.5m vs Rp31.4m(+9.9%)
• HERO -Rp33.2m vs Rp55.3m

»» Services
• SILO Rp34.5m vs Rp26.9m(+28.3%)
• SONA Rp15.1m vs Rp66.2m(-77.1%)

»» Automotive Related
• ASII Rp3.99t vs Rp4.73t(-15.6%)
• UNTR Rp1.64t vs Rp1.58t(+3.8%)
• AUTO Rp87.4m vs Rp265.5m(-67%)
• TURI Rp74.1m vs Rp78.1m(-5.1%)
• IMJS Rp28.9m vs Rp35.9m(-19.5%)
• GDYR -$206rb vs $393rb

»» Energy, Mining & Related
• ELSA Rp65m vs Rp54m(+20.4%)
• KKGI $1.42jt vs $4.59jt(-69.1%)
• TINS -Rp19.1m vs Rp95.0m

»» Agriculture, Poultry & Related
• AALI Rp156m vs Rp784m(-80.1%)
• GZCO -Rp10.5m vs -Rp8.5m

»» Telco, Media & Tech Related
• TLKM Rp3.81t vs Rp3.58t(+6.4%)

»» Transportation, Distribution
• MPMX Rp115m vs Rp152m(-24.3%)
• TMAS Rp60.1m vs Rp53.7m(+11.9%)

»» Manufacture
• ARNA Rp39.6m vs Rp77.1m(-48.6%)
• SRSN Rp5.54m vs Rp6.28m(-11.8%)
• JPRS Rp1.41m vs Rp4.86m(-70.98%)
• ERTX $844rb vs $446rb(+89.2%)
• SSTM -Rp7.22m vs Rp0.54m
• IKAI -Rp9.18m vs -Rp4.72m
• NIKL -$1.16jt vs -$0.26jt

»» Others
• DSNG Rp57.6m vs Rp149m(-61.3%)
• LEAD $1.09jt vs $5.69jt(-80.8%)
• DSFI Rp3.78m vs Rp2.81m(+34.5%)
• MIRA Rp0.76m vs Rp0.50m(+52%)
• PKPK -Rp12.5m vs -Rp1.7m

Perubahan MSCI

MSCI announced changes to its index on 12th February. These changes will be traded on the 27th February.

· We expect approximately US$28m to trade in Indonesia, with balance amount of buy and sell trade.

· High impact Indonesia Changes (Greater than 1 day to trade or greater than US$20m) is SCMA IJ (Surya Citra Media) Upweight amount US$13.7m (50.4m shares) for 4.3 days trade.

· MSCI Indonesia will have 3 Upweights and 27 Downweights.

· 3 Upweights are SCMA, MNCN and BMTR.

· 27 Downweights are BBCA, ASII, TLKM, BBRI, BMRI, PGAS, UNVR, BBNI, SMGR, KLBF, INTP, INDF, LPPF, UNTR, CPIN, GGRM, LPKR, TBIG, ICBP, BDMN, EXCL, BSDE, JSMR, ADRO, AALI, PTBA, ITMG.

· MSCI Small cap index: addition NONE ; deletion INKP

MSCI NOVEMBER 2014 (INDONESIA)

MSCI NOVEMBER 2014 (INDONESIA) – MSCI GLOBAL SMALL CAP INDEXES

• Additions
ELSA – PT. ELNUSA, Tbk
TARA – PT. SITARA PROPERTINDO, Tbk
WTON – WIJAYA KARYA BETON, Tbk

• Deletions
TAXI – PT. EXPRESS TRANSINDO UTAMA, Tbk
PADI – PT. MINNA PADI INVESTAMA, Tbk
SRIL – PT. SRI REJEKI ISMAN, Tbk
TRAM – PT TRADA MARITIME

Effective as close of 25 November 2014

sumber » http://www.msci.com/eqb/gimi/smallcap/MSCI_Nov14_SCPublicList.pdf

CADANGAN DEVISA INDONESIA 2014

Berikut perkembangan cadangan devisa Indonesia sepanjang tahun 2014 :

Januari: US$ 100,651 miliar
Februari: US$ 102,741 miliar
Maret: US$ 102,6 miliar
April: US$ 105,6 miliar
Mei: US$ 107 miliar
Juni: US$ 107,7 miliar
Juli: US$ 110,5 miliar
Agustus: US$ 111,2 miliar
September: US$ 111,2 miliar
Oktober: US$ 112 miliar

(Sumber » detik)

REVIEW » TLKM

TELKOM Always The Best, Solid, Speed, Smart, “To become a leading Telecommunication, Information, Media, Edutainment and Services (“TIMES”) player in the region”

12Mo Tgt Px Consensus Analyst Fr Bloomberg IDR 2914.81 – Return Potential 7.2%, LTM Return 23.6%,
Market Cap at IDX TOP 3 Rp293.8Tn as of Sept 30, 2014

PE Annualized :
TLKM 17.97x,
ISAT 44.31x,
EXCL -38.73x


WHY INVEST IN TELKOM ?

1.TELKOMSEL CONTINUES THE LEADERSHIP IN NETWORK QUALITY AND COVERAGE :

-Total BTS 83,346 units, a 26.9% YoY growth
-3G BTS 37,082 units, a 58.2% YoY growth.
-New BTS 9M14 13,482 units, a 18.7% YoY growth, average ±1,500 BTS/month

2.GAINING REMARKABLE SUBSCRIBERS GROWTH :

-Broadband users grew 31.8% YoY to more than 29.8mn*)
-Cellular subscribers grew 8.9% YoY to 139.3mn

3.WELL MAINTAINED STRONG FINANCIAL RESULTs :

-Consol Revenue grew 7.1% YoY to Rp65.8tn
-Tsel Revenue grew by 10.0% YoY to Rp48.4tn
(Telkom recorded a strong operational and financial results in 9M14)

4.REBALANCING MSCI Shares

Adjusted Weight% 01 Aug vs Weight% 29 Aug 2014 :
10,56 vs 10,69

5.Telkom group ıs the only SOE that provıde the largest telecommunıcatıon and network servıces ın Indonesıa


CORPORATE ACTIONS IN 9M14

1.PINS Indonesia Acquire 25% of Tiphone Shares
2.Telkom Redirecting Flexi’s Customers to Telkomsel
3.Telkom and Telstra formed a JV for Network Application Services (NAS)
4.Acquisition of Majority Shareholding in Contact Centre Australia (CCA)


2014 COMPANY OUTLOOKS (Continue to Deliver Value to Shareholders)

1.REVENUE GROWTH : In line with or slightly above the market for both TLKM Consolidated and Telkomsel
2.EBITDA MARGIN : Slight decline for both TLKM Consolidated and for Telkomsel
3.CAPEX : Group (Consolidated): 20‐25% over Revenue
4.ALLOCATION : Telkomsel: 70%, TLKM & Others: 30%

(DISC ON – Source : www.telkom.co.id, MSCI, Bloomberg)