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, 18 Februari 2013

KZ - SMGR gains more market share

·         Jan domestic cement sales was at 4.65m tonnes, down 9.1% MoM, up 14.5%YoY. The increase in YoY figure is encouraging, cementing our view on rising trend demand. Historically, January and 1Q are usually a weaker period,  representing around 8% and 22% of full year domestic sale, respectively.
·         Export market only contributes 0.4% of total national cement sales.
·         SMGR gained market share at the expense of INTP and SMCB:
§         SMGR continued to gain market share due to more capacity (operational of Tuban IV on July 2012 and Tonasa V plant on late 2012): 43.9%, from 42.1% in 4Q12.
§         INTP market share declined to 30.1% (from 31.4% in 4Q12), while SMCB market share declined to 14.8% (from 15.1% in 4Q12).
·         We expect 12% volume growth for FY13; in line with Cement Association’ expectation.  This implies the players running at 93-94% utilization rate. Still a very tight market. We expect ASP to rise 4-5% this year.
·         INTP is now trading at 14x PE13, SMGR at 18.3x PE13, and SMCB 16.7x PE13. We are reviewing our SMGR assumptions post additional capacity from Thang Long and the newly commissioned Tonasa V.
me @ LOTS Trading Club (LTC)

Tidak ada komentar:

Poskan Komentar