Market Flash: iSHARES MSCI Indonesia Investable Market Index Fund (EIDO:US) PRICE: 28.530 USD Down -0.360 (-1.246%) >>> BI: Rupiah Melemah Akibat Kondisi Eropa >>> Pertemuan FED pertimbangkan langkah baru dorong ekonomi >>> KIJA akan Terbitkan MEN Valas USD150 Juta >>> PT Indika Energy Perusahaan Teladan Dunia 2011 >>> Govt Promises Revision of Cost Recovery Regulation >>> BPMigas Demands PGN to Pay US$6 per MMBTU >>> Jababeka to Raise US$150 Million from Debt Markets >>> SCG Chemicals buys Chandra Asri >>> Solusi Tunas eyes Rp380 bio IPO >>> SMR Utama scouts Rp300 bio IPO >>> Alam Sutera picks two bond arrangers >>> ASII Tetap Rajai Penjualan Mobil Agustus 2011 >>> Perusahaan Thailand kuasai Saham TPIA senilai Rp 3,76 Triliun >>> Agis Main ke Tambang, Sahamnya Masuk Dalam Pengawasan >>> ACES Mendekati The Northern Agar Mau Kurangi Kepemilikan >>> IHSG masih harus berjuang terus bertahan diatas MA200 >>> Melirik Peluang Akumulasi di Saham Perbankan >>> Analisa Saham BUMI: Kuat Bertahan & Berpeluang Kembali Uptrend >>> Analisa Saham JSMR: Bertahan Di Support, What Next? >>> INDF Tertahan Di Area Support Kuat, Berpeluang Rebound >>> ASII Break Minor Support, Sell on Strength >>> ADRO Membentuk Descending Wedges, Berpeluang Rebound Terbatas >>> Wall Street ends flat as early gains evaporate >>> Fed begins policy meeting, tiptoes toward easing >>> Fed meeting to help decide on long-term Treasuries >>> Greece Makes 'Good Progress' in Reform Talks: EC >>> China worried Europe debt crisis will hit trade >>> China could roll out 4.65tr yuan stimulus package >>> IMF sees Mideast stagnation >>> NYMEX-Crude ends higher at Oct contract expiry >>> Asian Crude Palm Oil Up On Technical Buying, Soyoil >>> Foreign net Sell - 61.785.746

Jumat, 04 Maret 2011

Enseval Putra Megatrading: Not Rated; Rp810; EPMT IJ Rp300bn rights issue approved - DBS Vickers

In the Extraordinary Shareholder General Meeting, Enseval Putra Megatrading (EPMT)’s shareholders have approved the company’s Rp300bn rights issues plan. The rights proceeds would be used for expansion, strengthen the company’s distribution network, and build 4 new regional hubs in Cikarang, Makasar, Medan , and Palembang . KLBF, as a standby buyer has set aside the Rp300bn from its Rp1.8tr net cash as at Dec 2010 to take up all the rights that is unsubscribed, which will potentially raise its stake to 86.3%.

On another note, KLBF is planning to develop other ASEAN markets for its ethical and OTC drugs. The company is conducting feasibility studies on both Thailand and Vietnam and some Rp0.5-1tr is set aside to fund this expansion. Currently, export contributes to only 4% to KLBF’s total sales. With no immediate earnings enhancement expected from Vietnam or Thailand markets, KLBF is targeting 12%-15% sales growth this year. For now, we maintain our Hold call and TP of Rp3,275/share.

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