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

Rabu, 29 Juni 2011

Perusahaan Gas Negara: Buy; Rp3,975; TP Rp4,815; PGAS IJ US$200m budgeted capex - DBS

PGAS is budgeting US$200m capex for the year, which will be financed internally. This capex will be for the construction of LNG Terminal in Jakarta and Belawan. PGAS is also finalizing the agreement to secure LNG supply from Tangguh field. Supply from Belawan will be distributed through PGAS’ pipeline to meet the needs of power plants in Sumatra as well as industry players there. PGAS is also finalizing a new gas field acquisition, which it will be a minority shareholder.

On another note, PGAS’ shareholders have agreed on dividend payout of 60%. PGAS has paid interim dividend of Rp10.2 per share on 4 January 2011, and the final dividend to be paid will be Rp144.24 per share.

PGAS’ capex plans and dividend payment came in within our expectation. We reiterate our Buy call for PGAS for its promising outlook and attractive valuation. At current valuation of 12x FY11PE, the share trades at a discount to regional gas peers of 16x. However, it offers higher yields of 4% against peers’ average of 2%.

Tidak ada komentar:

Poskan Komentar