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

Jumat, 19 Agustus 2011

Bakrie Sumatera Plantations: 1H11 profit surprise next week (UNSP, Rp405, Neutral, TP: Rp400) - Mandiri

􀂄 We met with UNSP’s new IR head Mr. Hadi Susilo, who joined the company about two to three weeks ago. Prior to joining UNSP, Mr. Hadi Susilo was IR head at Sorini Agro Asia Corporindo (SOBI IJ).
􀂄 We are hopeful that Mr. Hadi Susilo can bring significant improvements to UNSP’s investor relations effort and disclosure ahead. Since the beginning of 2010, the flow of information (especially the operating data) has been somewhat inconsistent.
􀂄 We notice that some brokerage houses have dropped coverage on UNSP over the past months, possibly owing to the inconsistent data flow. Of the eight remaining analysts covering UNSP, only five made some changes to their target price or rating. Coverage from the other three analysts seem stale, with last update done in year 2010.
􀂄 We are pleasantly surprised to learn that UNSP already bagged Rp405bn net profit in the five months to May 2011, against a full year consensus of Rp579bn (FY11F P/E consensus of 9.1x versus peers of 12.2x). In the 1Q11, UNSP reported Rp132.5bn net profit. Its 1H11 results are being reviewed by auditors currently, likely to be out by next week.
􀂄 Granted that much of the profit surprise could be coming from one-off gains, namely FX and perhaps debt restructuring gains. On 12 July, UNSP disclosed to the IDX about the completion of its debt restructuring, for the US$210mn Domba Mas facility where Credit Suisses was the arranger. That said, the one-off profit surprise may serve as a worthwhile catalyst for UNSP, that trades on mere 0.7x PBV and one of the lowest EV-to-planted CPO plantations. We would flag the trading opportunities in the counter ahead of 1H11 results release.
Posted by Saham Pilihan at 13.12

Tidak ada komentar:

Posting Komentar

Langganan: Posting Komentar (Atom)