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

Senin, 06 Juni 2011

Vallares IPO plan & Bakrie - JP Morgan

* Bumi Resources, Energi Mega, and the Bakrie Group – Vallares, an acquisition vehicle backed by Nathaniel Rothschild and former BP (BP.L) boss Tony Hayward will announce its intention to float as early as next week, according to Reuters. Vallares aims to raise around 1 billion pounds ($1.6 billion) to invest in oil assets. Sources said the group was aiming for a listing in the coming month, despite ongoing market volatility and an uneven success rate for European offerings. My take – I am most curious on the timing of the deal, that may reflect Mr. Rothschild’s confidence that his current deals can shine just before the launch of Vallares IPO. Investors with high risk appetite and wild imagination may start speculating on Energi Mega Persada (ENRG) being a take-over target for Vallares, in a similar deal structure to Bumi Resources. Energi Mega management will be in Singapore and Hongkong this Wed & Thu with JPMorgan, on a non-deal roadshow.

* Indonesia Coal Mining (Stevanus Juanda) – Buy Indo coal on drought, price control and lower import tax in China. We believe that demand from China could be the next catalyst that will push coal price and Indonesia coal stocks upwards: (1) Yangtze river (water supply into Three Gorges Dam with generating capacity of 18.2GW) is experiencing the worst drought in 50 years. (2) Potential price control on China domestic coal price. (3) Potential lowering of the VAT tax on imported coal. (4) Chinese IPPs have not been importing despite rising domestic demand; evidenced by imports down 27% YTD until April 11. BRAU, BUMI, INDY and HRUM are likely to be the biggest beneficiaries of coal price increases.

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