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

Kamis, 28 Juli 2011


In Asian Telecom Sector, Colin is overweight Indonesian Telecom, which has laggard both Indonesia market and Asian Telecom (especially China and India ). Colin is recommending Buy ISAT/EXCL and trading Buy TLKM (share buy-back has started despite only less than 10% being spent of US$600m budget). Cellulars Operators are currently trading at half EV/EBITDA than Towers Operators therefore ISAT will be expected to divest its towers as unlocking its tower hidden value.

· Colin McCallum, CA (Daily attached): We are removing Idea from our top five regional telco picks after its strong run of performance relative to the sector. In its place we add more Indonesian exposure, in the form of PT Telkom. The share buyback programme has only just begun and we expect a return to QoQ cellular revenue growth in 2Q11.

· We retain Indosat as a top outperform call, and we also retain Axiata, which offers some Indonesian exposure through its subsidiary XL, as well as indirect exposure to Idea.

· We have removed SmarTone from our top UNDERPERFORM calls, and in its place inserted Bakrie Telecom, which we believe has more pressing fundamental issues, despite its strong management team. We retain both True Corp and TM as top UNDERPERFORM calls.

Tidak ada komentar:

Posting Komentar