§ Cement: Semen Gresik (SMGR IJ) plans to construct 2 cement plants in Sumatra with production capacity of 2.5-3m tons.
§ Glass: Investor Daily quoted management of Asahimas Flat Glass (AMFG IJ) expecting 10% sales growth to Rp2.2t in 2011 from sales target of Rp2t in FY10. Higher sales will be supported by better economy growth this year. Asahimas glass sales contribute 40-45% of national glass sales. .
§ Plantation: BW Plantation (BWPT IJ) reported FFB output came in at 397.5k tons in FY10, grew by 8% y/y, relatively modest for young-age palm estates. Separately, management claims that planted area reached 52k tons as of end FY10. In FY11, the company plans to develop two additional palm mills within the next two years. A mill with capacity of 30 tons FFB per hour will be constructed this year with cost of US$9m and add production capacity to 135 tons FFB per hour.
§ Banking: On conference call yesterday, Bank Indonesia reinstates its positive view on the banking sector. Loan growth target are sets at 19%-23% y/y for 2011, inline with ~22.8% y/y achievement in 2010. Supporting the target are improving asset quality (3.1% NPL as of November 2010) and sufficient capital (16.3% as of November 2010). Risk of future inflationary pressure from rise in administered prices for rice, fertilizer, and reducing fuel subsidies in the new future are noted. Nevertheless, the Central Bank expects to control inflation within the 5% +/- 1% range in 2011 through strengthening policy coordination with the government.
Tidak ada komentar:
Posting Komentar