HEADLINES, Monday, July 06, 2009
TLKM jajaki akuisisi dua perusahaan tahun ini
Spin off unit usaha syariah, BBNI suntik modal Rp200 miliar
PTBA semester-I 2009 masih catat pertumbuhan bisnis
PNBN kaji terbitkan obligasi Rp1-1,5 triliun tahun ini
JSMR baru serap capex kurang dari 50%
Vallourec & Mannesmann Tubes tambah kepemilikan di CTBN
MARKET COMMENTARY
TODAY TRADING IDEA’s
ISAT, BLTA, JSMR : Buy
STATISTICS INDEX Ticker
Forecast Weekly:IDRsupport Rp10000-resistance Rp10360, IHSG: Support 1993 - Resistance 2129 Market Review : IHSG berhasil mencatat kenaikan sebanyak 9.5 point meskipun pada sesi pertama sempat koreksi sebanyak 20 points mengikuti anjloknya bursa saham AS malam sebelumnya. Volume yang tipis menjadi karekteristik perdagangan bursa beberapa hari ini. Kemudian pada sesi kedua IHSG mendapat dorongan positif dari pengumuman suku bunga yang turun menjadi 6.75 % dan juga membaiknya index regional seperti indeks HANG SENG , Shanghai Composite dan Nikkie yang membaik menjelang penutupan. Terlihat adanya trend decoupling dari AS di wilayah regional Asia. Saham Telkom. ASII, UNTR ditutup positif. Ini merupakan perusahaan bluechips yang banyak menyumbang terhadap kenaikaan indeks. Adapun saham-saham yang closing negatif adalah BUMI, BBCA dan Unilever. Market View : IHSG pada transaksi hari ini akan bergerak dalam band yang sempit mengingat bursa Saham AS tutup hari jumat yang lalu sebagai observasi terhadap Independence Day. Sentimen negatif dari turunnya S&P dan Nasdaq futures akan terus menghantui wilayah regional Asia dan dapat dilihat dari lemahnya pembukaan indeks Nikkei. Hari ini merupakan satu ujian lagi bagi bursa saham regional Asia terhadap trend “decoupling”. Kalau para investor optimis akan trend decoupling maka penurunan akan minim. Meningkatnya ekspektansi terhadap satu putaran pemilu diharapkan juga akan membawa sinyal positif . Seperti hari-hari sebelumnya, kami merekomendasi para investor untuk bersifat cautious dan hanya fokus terhadap saham-saham bluechips pilihan daripada saham-saham berkapitalisasi kecil yang bakal rawan terhadap volatilitas pasar menjelang pemilu. Sektor infrastruktur, property dan Konsumen masih merupakan sektor-sektor favorit kami mengingat daya beli domestik masih relatif kuat dibandingkan konsumen berbasis internasional.
COMPOSITE KOMPAS100 LQ45 JII MBX DBX TOP GAINERS Ticker TLKM ISAT SMGR ASII LSIP TOP LOSERS Ticker INTP PTRO SMAR PTBA ITMG WORLD MARKET DOW JONES NASDAQ FTSE NIKKEI HANG SENG STRAIT TIMES KLSE
Price
Change
2,075.30 504.711 404.834 332.648 587.832 327.72
9.549 3.194 2.726 3.397 3.577 -2.5
Price 8,600 5,500 5,250 23,450 6,000
Change 400 300 200 200 150
Price 7,200 9,700 3,125 11,400 19,550
Change -250 -250 -200 -150 -150
8280.74 1796.52 4236.28 9661.27 17975.23 2279.53 1067.69
-223.32 -49.2 2.07 -154.80 -228.17 -20.22 -5
This material is issued by PT Sinarmas Sekuritas, a member of Indonesia Stock Exchanges, represent the opinion of PT Sinarmas Sekuritas, derived its judgement from sources deemed reliable, however, PT Sinarmas Sekuritas and its affiliated cannot guarantee its accuracy and completeness. PT Sinarmas Sekuritas or its affiliates may be involved in transactions contrary to any opinion herein or have positions in the securities recommended herein and may seek or will seek investment banking or other business relationships with the companies in this material. PT Sinarmas Sekuritas, its employees and its affiliates, expressly disclaim any and all liability for representation or warranties, expressed or implied, here in or omission there from or for any loss how so ever arising from any use of this material or its contents or otherwise arising in connection there with. Opinion expressed in this material are our present view and are subject to change without notice.
DAILY NEWS
PT Telekomunikasi Indonesia Tbk (TLKM) tengah menjajaki akuisisi perusahaan jasa informasi telekomunikasi dan menara telekomunikasi di dalam negeri. Langkah tersebut guna mendiversifikasi usaha perseroan. Perseroan saat ini belum mengumumkan berapa nilai akuisisi kedua perusahaan tersebut. Namun perseroan menyebutkan nilai akuisisi masih di bawah nilai akuisisi Infomedia beberapa waktu lalu. Terkait dengan rencana pembelian saham Telecommunication Company of Iran, perseroan menyatakan masih mempertimbangkan seluruh aspek yang terkait seperti politik, ekonomi dan ijin dari pemerintah. (Neutral) PT Bank Negara Indonesia Tbk (BBNI), terkait rencana melakukan spin off unit usaha syariah-nya di semester kedua tahun 2009, akan segera menyuntikkan modal sebesar Rp 200 miliar. Hal itu sesuai dengan ketentuan Bank Indonesia (BI) yang mewajibkan modal minimum Bank Syariah sebesar Rp 500 miliar. Saat ini modal unit usaha syariah (UUS) BNI sebesar Rp 300 miliar. Selain itu, Islamic Corporation for The Development of Private Sector (ICD) juga berencana suntik sebesar US$ 500 juta. Penyuntikan dana akan diberikan bertahap setelah spin off selesai selama tiga tahun. Untuk tahap awal, setelah spin off, ICD akan menyuntikkan dana sebesar US$ 250 juta ke Bank Syariah BNI. (Neutral) PT Tambang Batubara Bukit Asam Tbk (PTBA) hingga semester-I 2009 mengindikasikan masih akan mencatat pertumbuhan, meskipun volume penjualan turun dibawah proyeksi sebesar 10-15%. Penuruna volum penjualan tersebut karena terjadi penurubnan permintaan batubara dipasaran akibat terimbas krisis global. Penjualan batubara semester-I perseroan tercatat sebanyak 5,85 juta ton denagn komposisi 63% domestik dan 37% ekspor. Pendapatan perseroan tercatat sebesar Rp2,88 triliun dengan laba bersih Rp959,459 miliar. (Positive) PT Bank Panin Tbk (PNBN) kaji untuk menerbitkan obligasi senilai Rp1-1,5 triliun pada tahun ini. Perseroan saat ini tengah mencari peluang suku bunga yang terbaik dalam penerbitan obligasi ini. Sebelumnya perseroan memang berencana untuk menerbitkan obligasi pada tahun lalu, namun tertunda karena kondisi ekonomi global yang sedang dilanda krisis. Terkait dengan rencana tersebut, perseroan belum mengumumkan nama penjamin emisi yang akan menangani. Perseroan menyatakan sudah ada beberapa perusahaan sekuritas yang mengajukan diri namun belum ada keputusannya. Dana hasil obligasi akan digunakan untuk meningkatkan aktiva produktif dan memperkuat struktur pendanaan denagn dana yang berjangka panjang sesuai denagn pembiayaan sektor infrastruktur dan komersial. PT Pefindo telah menetapkan peringkat obligasi perseroan pada level idA+. Rasio kecukupan modal perseroan saat ini berada pada level 20%. (Neutral) PT Jasa Marga Tbk (JSMR) hingga semester I-2009, baru menyerap belanja modal atau (capex/capital expenditure) kurang dari setengah dari total yang dianggarkan sebesar Rp 4 triliun. Perseroan menyatkan rendahnya penyerapan capex tersebut antara lain karena pembebasan lahan yang masih rendah sehingga banyak proyek perseroan yang belum jalan. Perseroan memproyeksikan akan banyak lahan yang bisa dibebaskan di kuartal III sehingga konstruksi sudah bisa dimulai dan proyek dapat berjalan. Beberapa tanah yang baru saja dibebaskan oleh perseroan antara lain di ruas Bogor Ring Road (BRR) sepanjang 4 km, dan ruas tol Semarang-Ungaran. Perseroan masih akan membebaskan lahan untuk ruas SemarangSolo, BRR, Gempol-Pasuruan, JOR II dua ruas, JOR I 1 ruas. Mengenai sumber pendanaan utnuk capex tersebut, perseroan menyatakan sudah mendapat komitmen pinjaman dari konsorsium beberapa bank BUMN sebesar Rp 7 triliun. (Negative) Vallourec & Mannesmann Tubes salah satu produsen pipa baja terbesar di dunia meningkatkan kepemilikan sahamnya di PT CitraTubindo Tbk (CTBN) menjadi 78,2 persen dari sebelumnya 33,5 persen dengan nilaitransaksi Rp1 triliun. Vallourec telah memperoleh 44,78 % saham Citra Tubindo melalui kombinasi akuisisi dan penawaran tender. Penambahan kepemilikan saham itu dilakukan secara progresif sejak 2008-2009. Vallourec menyatakan penambahan kepemilikan saham tersebut sebagai langkah untuk memperkuat bisnis di Indonesia dan kawasan Asia Pasifik. Hal tersebut seiring dengan meningkatnya permintaan produk premium dan solusi. (Neutral)
This material is issued by PT Sinarmas Sekuritas, a member of Indonesia Stock Exchanges, represent the opinion of PT Sinarmas Sekuritas, derived its judgement from sources deemed reliable, however, PT Sinarmas Sekuritas and its affiliated cannot guarantee its accuracy and completeness. PT Sinarmas Sekuritas or its affiliates may be involved in transactions contrary to any opinion herein or have positions in the securities recommended herein and may seek or will seek investment banking or other business relationships with the companies in this material. PT Sinarmas Sekuritas, its employees and its affiliates, expressly disclaim any and all liability for representation or warranties, expressed or implied, here in or omission there from or for any loss how so ever arising from any use of this material or its contents or otherwise arising in connection there with. Opinion expressed in this material are our present view and are subject to change without notice.
COMMODITY CRUDE OIL / BARREL COAL / MT NATURAL GAS / mmBtu GOLD / OUNCE NICKEL / MT TIN / MT CPO (MYR) / MT FOREX (running) USD EUR JPY SGD AUD GBP
PRICE (USD) 66.73 65.50 3.56 929.58 16050.00 14400.00 2195.00
CHANGE -2.58 0.50 -0.06 -2.67 -155.00 100.00 0.00
DUAL LISTED TLKM (US) ISAT (US) ANTM (GR) BLTA (SP)
PRICE (IDR) 8,136 5,068 2,077 881
RATE (IDR) 10,250.00 14,321.30 107.25 7,044.19 8,145.68 15,394.05
CHANGE -57.50 942.95 23.81 813.67 -365.08 -1,804.95
FOREX 1000 IDR/ USD EUR / USD JPY / USD SGD / USD AUD / USD GBP / USD
RATE 0.0098 1.3972 96.5700 1.4551 0.7947 1.6290
FED Rate (%) BI Rate (%) ECB Rate (%) BOJ Rate (%) BOE Rate (%) PBOC Rate (%) ASUMSI MACRO GDP (%) Inflation (%) IDR/USD (IDR) SBI – 3 Bulan (%)
0.25 6.75 1.00 0.10 0.50 5.31 APBN-P 2008
Realisasi
0.10 6.04 0.04 57.9341
6.04 7.31 -0.31 56.5659
1,300.30
1,236.52
Ex Date 03-Jul-09 03-Jul-09 03-Jul-09 06-Jul-09 08-Jul-09 08-Jul-09 10-Jul-09 10-Jul-09 13-Jul-09 14-Jul-09 15-Jul-09 16-Jul-09 16-Jul-09 17-Jul-09 17-Jul-09 21-Jul-09 22-Jul-09 22-Jul-09 22-Jul-09 22-Jul-09 22-Jul-09 30-Jul-09 30-Jul-09 06-Aug-09 07-Aug-09 07-Aug-09 12-Aug-09 05-Oct-09 -
Recording 07-Jul-09 07-Jul-09 07-Jul-09 09-Jul-09 10-Jul-09 10-Jul-09 14-Jul-09 14-Jul-09 15-Jul-09 16-Jul-09 17-Jul-09 21-Jul-09 21-Jul-09 22-Jul-09 22-Jul-09 23-Jul-09 24-Jul-09 24-Jul-09 24-Jul-09 24-Jul-09 24-Jul-09 03-Aug-09 03-Aug-09 6 Aig 09 11-Aug-09 11-Aug-09 14-Aug-09 05-Oct-09 -
Payment 22-Jul-09 17-Jul-09 22-Jul-09 24-Jul-09 24-Jul-09 27-Jul-09 29-Jul-09 29-Jul-09 29-Jul-09 31-Jul-09 30-Jul-09 04-Aug-09 04-Aug-09 05-Aug-09 05-Aug-09 06-Aug-09 07-Aug-09 07-Aug-09 07-Aug-09 07-Aug-09 05-Aug-09 18-Aug-09 18-Aug-09 21-Aug-09 26-Aug-09 26-Aug-09 31-Aug-09 19-Oct-09 -
95.00 0.93 895.0
127.20
45.00 0.630 1,123.90
DPS (IDR) 11,51 27,50 172,85 0,69 57 2,969,435 50 90 350 1.2 350 41,74 8000 9,6 3 40 20 50 215,19 7 5 50,60 45 US$ 0,015 4 9 19,6 5 -
7.18 0.64 0.31
Inflation YTD % Inflation YOY % Inflation MOM % Cad devisa (USD) GDP (IDR Tn)
4,5 6.00 11.000 7.50
Status final final final final final final final final final final final final final final final final final final final final final final final final final final final final final
CHANGE 0.0056 -0.0008 -0.4700 0.0018 -0.0022 -0.0043
Deskripsi
6.30 11.40 9,250.00 9.10
985.70
13 88 43 35
2009
6.40 6.50 9,100.00 7.50
Crude Oil (USD/brl) Oil Production (bpd) Total APBN (Rp Triliun) DIVIDEN Ticker ADHI EPMT ISAT ASRI FAST TLKM PNSE SGRO TOTO AQUA GGRM PGAS SQBB AMRT TRIM AMFG KKGI MYOR SMGR TRIO ULTJ BUMI DVLA MEDC MAIN UNSP CLPI JTPE ADRO
JIBOR (IDR) LIBOR (GBP) SIBOR (USD)
CHANGE
Cum Date 02-Jul-09 02-Jul-09 02-Jul-09 03-Jul-09 07-Jul-09 07-Jul-09 09-Jul-09 09-Jul-09 10-Jul-09 13-Jul-09 14-Jul-09 15-Jul-09 15-Jul-09 16-Jul-09 16-Jul-09 17-Jul-09 21-Jul-09 21-Jul-09 21-Jul-09 21-Jul-09 21-Jul-09 29-Jul-09 29-Jul-09 03-Aug-09 06-Aug-09 06-Aug-09 11-Aug-09 30-Sep-09 -
April
Maret
This material is issued by PT Sinarmas Sekuritas, a member of Indonesia Stock Exchanges, represent the opinion of PT Sinarmas Sekuritas, derived its judgement from sources deemed reliable, however, PT Sinarmas Sekuritas and its affiliated cannot guarantee its accuracy and completeness. PT Sinarmas Sekuritas or its affiliates may be involved in transactions contrary to any opinion herein or have positions in the securities recommended herein and may seek or will seek investment banking or other business relationships with the companies in this material. PT Sinarmas Sekuritas, its employees and its affiliates, expressly disclaim any and all liability for representation or warranties, expressed or implied, here in or omission there from or for any loss how so ever arising from any use of this material or its contents or otherwise arising in connection there with. Opinion expressed in this material are our present view and are subject to change without notice.
BMTR BUDI KREN MNCN TALF TKIM INCOMING IPO’s Company PT Katarina Utama
Bank Tabungan Negara
final final final final final final
Business Perbankan
3,5 1 4 20
Underwriter
-
Offering Date
-
Share 400 juta 30%
-
Price
-
Listing Semester I 2009 Kuartal IV 2009
HEARD ON THE ROAD
TLKM rencana menerbitkan obligasi senilai Rp2 triliun semester II 2009 CPIN disebut-sebut masuk ke pangsa pasar ayam dan pakan ternak di Papua CPRO disebut-sebut akan mematok harga right issue sebesar Rp200. TRUB gandeng mitra strategis dari Malaysia garap proyek PLTU dan tambang batubara di Muara Enim
This material is issued by PT Sinarmas Sekuritas, a member of Indonesia Stock Exchanges, represent the opinion of PT Sinarmas Sekuritas, derived its judgement from sources deemed reliable, however, PT Sinarmas Sekuritas and its affiliated cannot guarantee its accuracy and completeness. PT Sinarmas Sekuritas or its affiliates may be involved in transactions contrary to any opinion herein or have positions in the securities recommended herein and may seek or will seek investment banking or other business relationships with the companies in this material. PT Sinarmas Sekuritas, its employees and its affiliates, expressly disclaim any and all liability for representation or warranties, expressed or implied, here in or omission there from or for any loss how so ever arising from any use of this material or its contents or otherwise arising in connection there with. Opinion expressed in this material are our present view and are subject to change without notice.
CALENDAR OF DAILY EVENT MM DD EVENTS JuL 01 Cash Dividen: COWL Cash Dividen: SMRA
MM DD EVENTS JuL 02 1:2 Rights Issue Rp101: BACA Cash Dividen: BSDE
JuL
04
JuL
05
JuL
07 RUPSLB:(MITI)
JuL
08 RUPSLB:(MITI)
1:1 Rights Issue II @ Rp 550:(POOL) 1:20 Rights Issue @ Rp 100:(UNIT)
MM DD EVENTS JuL 03 RUPSLB: SONA Cash Dividen: (INDF) Cash Dividen: (AKPI) Cash Dividen: (EPMT) Cash Dividen: (ISAT) Cash Dividen: (ADHI) IPO: Inovisi Infracom Tbk RUPSLB: (SONA) JuL 06 25 : 25 Rights Issue @ Rp.320:(BKSW) Cash Dividen:(ASRI) JuL
09 3:1 Rights Issue IV @ Rp 425:(BLTA)
1:1 Rights Issue II @ Rp 550:(POOL)
JuL
10 Cash Dividen:(SGRO) Cash Dividen:(MRAT) Cash Dividen:(PNSE)
JuL
11
JuL
12
JuL
13 Cash Dividen:(TOTO)
JuL
14 Cash Dividen:(BLTA) Cash Dividen:(AQUA)
JuL
15 Cash Dividen:(GGRM)
JuL
16 RUPSLB:(ACES)) Cash Dividen:(SQBI) Cash Dividen:(PGAS) Cash Dividen:(MREI)
JuL
17 RUPSLB:(HERO) Cash Dividen:(TRIM)T Cash Dividen:(AMRT)
JuL
18
JuL
19
JuL
20 10:1 Reverse Stock:(MLPL)
JuL
21 Cash Dividen:(PKPK) Cash Dividen:(AMFG)
JuL
22 Cash Cash Cash Cash
JuL
23 RUPS:(BIPP) RUPSLB:(BNLI) RUPSLB:(BRPT)
JuL
24 RUPS:(MYTX)
JuL
25
JuL
26
JuL
27
JuL
28 Cash Dividen:(DGIK)
JuL
29
JuL
30 Cash Dividen:(BUMI) Cash Dividen:(DVLA)
Dividen:(ULTJ) Dividen:(MYOR) Dividen:(TRIO) Dividen:(KKGI)
This material is issued by PT Sinarmas Sekuritas, a member of Indonesia Stock Exchanges, represent the opinion of PT Sinarmas Sekuritas, derived its judgement from sources deemed reliable, however, PT Sinarmas Sekuritas and its affiliated cannot guarantee its accuracy and completeness. PT Sinarmas Sekuritas or its affiliates may be involved in transactions contrary to any opinion herein or have positions in the securities recommended herein and may seek or will seek investment banking or other business relationships with the companies in this material. PT Sinarmas Sekuritas, its employees and its affiliates, expressly disclaim any and all liability for representation or warranties, expressed or implied, here in or omission there from or for any loss how so ever arising from any use of this material or its contents or otherwise arising in connection there with. Opinion expressed in this material are our present view and are subject to change without notice.
CALENDAR OF MONTHLY EVENTS YY MM DD EVENTS 09 Jan 1 Inflation INA 7 RDG BI 8 BOE Rate Statement 28 Federal Funds Rate 09 Feb 2 Inflation INA 4 RDG BI 5 ECB Rate Statement 5 BOE Rate Statement 19 BOJ Rate Statement 09 Mar 2 Inflation INA 4 RDG BI 5 BOE Rate Statement 5 ECB Rate Statement 17 BOJ Rate Statement 17 Federal Funds Rate 09 Apr 1 Inflation INA 3 RDG BI 2 ECB Rate Statement 9 BOE Rate Statement 7 BOJ Rate Statement 29 Federal Funds Rate 09 May 1 Inflation INA 5 RDG BI 7 ECB Rate Statement 7 BOE Rate Statement 22 BOJ Rate Statement 09 Jun 1 Inflation INA 3 RDG BI 4 BOE Rate Statement 4 ECB Rate Statement 16 BOJ Rate Statement 24 Federal Funds Rate 09 Jul 1 Inflation INA 3 RDG BI 2 ECB Rate Statement 3 RDG BI 8 Pemilu Presiden dan Wakil Presiden 9 BOE Rate Statement 09 Aug 3 Inflation INA 5 RDG BI 6 BOE Rate Statement 6 ECB Rate Statement 11 Federal Funds Rate 09 Sept 1 Inflation INA 3 RDG BI 3 BOE Rate Statement 22 Federal Funds Rate 22 Federal Funds Rate 09 Oct 1 Inflation INA 5 RDG BI 8 BOE Rate Statement 8 ECB Rate Statement 09 Nov 2 Inflation INA 4 RDG BI 4 Federal Funds Rate 5 ECB Rate Statement 5 BOE Rate Statement 09 Dec 1 Inflation INA 3 RDG BI 3 ECB Rate Statement 10 BOE Rate Statement 15 Federal Funds Rate Source: Bisnis Indonesia, Investor Indonesia, Neraca, Kompas, Stockwatch, RTI, IQPlus, Bloomberg dan Internet News Sources This material is issued by PT Sinarmas Sekuritas, a member of Indonesia Stock Exchanges, represent the opinion of PT Sinarmas Sekuritas, derived its judgement from sources deemed reliable, however, PT Sinarmas Sekuritas and its affiliated cannot guarantee its accuracy and completeness. PT Sinarmas Sekuritas or its affiliates may be involved in transactions contrary to any opinion herein or have positions in the securities recommended herein and may seek or will seek investment banking or other business relationships with the companies in this material. PT Sinarmas Sekuritas, its employees and its affiliates, expressly disclaim any and all liability for representation or warranties, expressed or implied, here in or omission there from or for any loss how so ever arising from any use of this material or its contents or otherwise arising in connection there with. Opinion expressed in this material are our present view and are subject to change without notice.
RESEARCH TEAM Koordinator Team
: :
Johanes Soetikno (
[email protected]) Alfiansyah (
[email protected]) Sudeswanto (
[email protected]) Eddy Widjaja (
[email protected]) Kartini (
[email protected])
YM:
[email protected] YM:
[email protected] YM:
[email protected] YM:
[email protected]
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PRODUK ASSET MANAGEMENT Reksadana Pasar Uang Reksadana Pendapatan Tetap
Reksadana Campuran Reksadana Saham
: Danamas Rupiah Danamas Rupiah Plus Riau Liquid Fund : Danamas Dollar Simas Danamas Mantap Plus Simas Danamas Instrumen Negara Danamas Stabil Riau Income Fund : Danamas Fleksi Simas Satu : Simas Danamas Saham
This material is issued by PT Sinarmas Sekuritas, a member of Indonesia Stock Exchanges, represent the opinion of PT Sinarmas Sekuritas, derived its judgement from sources deemed reliable, however, PT Sinarmas Sekuritas and its affiliated cannot guarantee its accuracy and completeness. PT Sinarmas Sekuritas or its affiliates may be involved in transactions contrary to any opinion herein or have positions in the securities recommended herein and may seek or will seek investment banking or other business relationships with the companies in this material. PT Sinarmas Sekuritas, its employees and its affiliates, expressly disclaim any and all liability for representation or warranties, expressed or implied, here in or omission there from or for any loss how so ever arising from any use of this material or its contents or otherwise arising in connection there with. Opinion expressed in this material are our present view and are subject to change without notice.