Riset Saham, Kamis, 23 Mei 2013

RISET FR CIMB 23 MEI 2013 :

1.Bank Danamon   | Uncertainties prevail
BDMN IJ / BDMN.JK | UNDERPERFORM - Downgrade | Rp6,000.00 - Tgt. Rp5,350.00
Mkt.Cap: US$5890m | Avg.Daily Vol: US$3.06m | Free Float: 31.30%
Banks | Author(s): Soegiarto HADI, FRM,

The press reports that BI has approved a 40% stake purchase of Danamon by DBS, but demands more reciprocity from Singapore’s central bank if DBS is to acquire more. Uncertainties have heightened, and Danamon’s share price may drop closer to its fundamental value. We downgrade its stock from Trading Buy to Underperform, with de-rating catalysts expected from on-going acquisition uncertainty. We also have a new target price, once again based on our GGM valuation; our previous target was pegged at DBS’s offer price. Our EPS estimates are intact.
(22 MEI 2013)

2.Coal Mining   | A dead cat bounce
UNDERWEIGHT - Maintained
Author(s): Erindra KRISNAWAN, Erisca WIRAATMADJA

A combination of rebounding coal prices, lower earnings base, and the recent share price underperformance could set the sector up for a technical rebound. We stay cautious as fundamentals and valuations do not support a sustainable recovery for both coal prices and equities. Despite our commodity team’s lower 2013-15 thermal coal price forecasts, we keep our estimates unchanged as our previous ASPs already account for the actual pricing secured by miners. We keep our Underweight rating given the still uncertain coal price outlook and earnings risk. Our top pick is PTBA.
(22 MEI 2013)

3.Commodities Update   | China Commodity Trade Data, April 2013

Author(s): Daniel HYNES, Warren EDNEY

After a weak start to the year, China’s commodity trade data for April showed patchy signs of improvement, with many commodities continuing to record negative yoy growth.


REMINDER KBLI FR DANAREKSA:

KBLI Visit Notes: Big fish in a niche, growing industry (Not Rated)
We recently met with KBLI and came away feeling quite positive on the
company, especially considering the rising momentum in both property and
realty as well as infrastructure projects. We also believe that the company
stands to benefit from its good relationship with PT PLN given that the stillinadequate
electricity supply in the country will prompt PT PLN to build more  power plants and
transmission lines. In the past three years, KBLI has recorded
solid growth at both the top and bottom lines (40% and 82% CAGR,
respectively), a reflection of the strong demand in the cable industry. Lower raw
material prices and improving operational efficiency have also boosted
profitability. Another positive is the undemanding valuation.
bosman pangaribuan bb baru:
Property News:
Bumi Serpong Damai After Successful dePark Project  Officially Presents A New Truly Home Resort Projects: GREENWICH PARK

The New Concept:
Every day is like Holiday
24/7 all along the year
It will make you Feel Like Staying in the 5 Stars Resort with 3 Clubs and a Community Park which provide a perfect FUN & Leisure experiences.
Moreover having a holiday improves your body and mind.

Features:
- Total Land Area: 47.7 Ha
- Consist of 7 Clusters
- Facilities:
  * Grand n Luxurious Main GATE with Private Access
  * Double Security Access
  * Separated pedestrian road
  * 3 Clubs & Swimming Pools
  * Amazing 1,6 Ha Thematic Pool
  * 24-hour Security System
     with CCTV
  * Best Green Parks
- Best Location Surrounded by:
  * Best Developers
  * Best Universities
  * Lifestyles Mals
  * Many Favourite Schools

MAYFIELD PARK (First Cluster):
The joy of resort lifestyle
Features:
- The First Cluster and The Most Front Cluster
- Total Area: 7.5 Ha
- Many High open Space
- Modern Contemporary Design
- Smart Home Security System
- Hand Over Schedule:
  * Starting Feb 2015
- Total Houses: 124 Units
Unit Types and Price (Rp.):
M12 300m/275m BR4+1 4.5B
M10 250m/215m BR4+1 3.4B
M9 180m/170m BR3+1 2.5B
M8 160m/130m BR3+1 2.1B

Land Price is around Rp. 9 Mio/m2 and only 44 unit available.

Payment Types:
  1) Hard Cash 1 Month
  2) Cash Installments
  3) Mortgage

Schedules:
- Booking Period: June 4th - 8th  - Launching on Sunday, June 9th, 2013

NB:
Price will be fixed soon.
bosman pangaribuan bb baru:
MLPL Set Up Buy Back Program

Thursday.5.23 am May 23, 2013

Jakarta , MLPL will buyback program worth idr 550 billion  by pointing ciptadana securities within 1 year
bosman pangaribuan bb baru:
ADD HEADLINE NEWS :


*APLN :
Penawaran Obligasi Berkelanjutan Tahap I, Target dana yg dihimpun  Rp2.500.000.000.000
Penjamin pelaksana emisi obligasi : CIMB Sec, HSBC Sec, Indopremier Sec, Mandiri Sec,

Masa Penawaran Awal : 23 Mei - 5 Juni 2013
Perkiraan tgl efektif : 17 Juni 2013
Perkiraan Masa Penawaran Umum :
19-21 Juni
Perkiraan tgl penjatahan : 24 Juni 2013
Perkiraan tgl distribusi obligasi scr electronik : 26 Juni 2013
Perkiraan tgl pencatatan di BEI : 27 Juni 2013

(BISNIS IND, Hal 6)


*APLN menyiapkan lahan 40ha di Cakung, Jaktim, utk membangun rmh murah vertikal atau rmh susun bagi masyarakat berpenghasilan rendah.

(BISNIS IND, Hal 4)





*PIPA TRANSMISI SSWJ BOCOR, di Kilometer Pont (KP) 138-139 yg terletak di Pulau Damar.
(BISNIS IND, Hal 5)



*CMNP
1.alokasikan dana Rp3,2T utk mempersiapkan enam proyek jalan tol tahun ini..
(BISNIS IND, Hal 4)

2.Akan menyiapkan right issue atau HMETD dgn target dana Rp1-1,5T pd kuartal IV-2013. (RUPST 24 Juni 2013)
(INVESTOR DAILY, Hal 1)




*PT Asahimas Chemical, perusahaan hilir kimia asal Jepang, akan memperluas pabrik pengolahannya di Cilegon, Banten, dgn investasi US$300jt-US$400jt.
(BISNIS IND, Hal 25)




*Proyek IndoMet Coal, proyek patungan antara dua raksasa batu bara ADRO dan BHP Billiton (BHP), diperkirakan memulai produksi batu bara pertamanya pd kuartal III tahun ini.
(BISNIS IND, Hal 13)





*Penyedia Jasa Menara Telekomunikasi PT Sarana Menara Nusantara (TOWR) melalui anak usahanya PT Profesional Telekomunikasi Indonesia (PROTELINDO) meraup pinjaman US$475jt dan Euro40jt.
(BISNIS IND, Hal 13)



*DSSA membentuk anak usaha baru PT DSSA Mas Infrastuktur yg bergerak di bidang perdagangan, pembangunan, industri, perbengkelan, jasa dan angkutan.
(BISNIS IND, Hal 15)




*SHID :
1.Berencana membangun empat proyek properti senilai Rp1 T mulai semester kedua 2013.