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, 05 Mei 2011

Meeting with toll operator Citra Marga (CMNP IJ) from Sarina Lesmina - CLSA

1Q11 net profit grew 18% YoY to Rp77bn, with revenue rose 8% on the back of higher traffic volume from its toll roads. Please see file for details.

Traffic in Waru-Juanda has grown to 25,000 daily from 19,000 before.
CMNP is considering bond issuance this year of ~Rp2tn to finance their stake in Depok Antasari and for other non-toll investments in the infra space. CMNP refuses to provide more details on this investment.
Post restructuring in 2009, balance sheet is healthier, with net gearing fell to 23% from 70%.
Profit in 2010 quadrupled from 2009, hence dividend is expected about Rp60/sh (assuming payout ratio of 40%). This means a 5% dividend yield. AGM will be in mid-June to decide this.
CMNP now trades at 7.1x PE11 (four brokers coverage). The stock has underperformed its better peer, Jasa Marga, which now trades at 14.8x PE11.
Posted by Saham Pilihan at 16.47

Tidak ada komentar:

Posting Komentar

Langganan: Posting Komentar (Atom)