Indonesia's largest pay TV provider to launch IPO this year

PT MNC SkyVision, Indonesia's biggest pay TV provider, plans to launch an initial public offering this year, said the firm's parent company PT Global Mediacom in a statement on Thursday.

MNC SkyVision had an 78 percent market share at the end of 2010 with two of its leading brands "Indovision" and "TOP TV".
The firm said will it appoint underwriters soon. Source: Bloomberg

Mandiri sees 2011 profit up by over 2 trln rph

PT Bank Mandiri , Indonesia's largest lender by assets, sees 2011 net profit up by at least 2 trillion rupiah ($221 million) from 2010, CEO Zulkifli Zaini told Reuters on Thursday.
The bank has yet to post its 2010 profits.

Second largest lender PT Bank Rakyat Indonesia said it expects net profit for 2010 of over 8.5 trillion rupiah, its CEO Sofyan Basir told Reuters at parliament. ($1 = 9033 Rupiah). Source: Reuters

Indonesian Stocks May Rebound 18% After Recent Plunge: Technical Analysis

Indonesia’s stocks may rise 18 percent after the benchmark index’s slump to a key Fibonacci support level created a “compelling entry point,” Auerbach Grayson & Co. said. 

The Jakarta Composite index plunged 12 percent from its Dec. 9 record through Jan. 24 as overseas investors exited the nation’s stocks on concern faster inflation would spur higher borrowing costs in Southeast Asia’s biggest economy. A drop of 10 percent or more from a peak signifies a so-called correction to some analysts and investors. 

“Our analysis suggests that the 10 percent correction to a key Fibonacci support has created a compelling entry point,” Richard Ross, global technical strategist at Auerbach Grayson in New York, wrote in a note yesterday. “The well-defined uptrend remains intact.” 

Ross said his initial upside target for the gauge is 4,126, an 18 percent gain from yesterday’s closing level of 3,501.72. The index surged 46 percent last year, the best performer among Asia’s 15 biggest markets, as record-low interest rates helped boost economic growth and corporate earnings. The measure advanced 1 percent to 3,536.54 at the 12 p.m. local-time break. 

The central bank has kept interest rates at a record low even as the fastest inflation in 20 months threatens incomes for Indonesians, 29 percent of whom earn less than $2 a day. Policy makers in countries from India to Thailand have boosted borrowing costs in the past 10 months to curb rising prices. 

Stocks on the index traded at 13.2 times estimated earnings on Jan. 24, the lowest level since May and down from a multiple of 18.2 on Dec. 31, data compiled by Bloomberg show.

Stock Valuations 

Indonesian stocks’ decline is a buying opportunity, as the rural-based economy will benefit from rising commodity prices while avoiding runaway inflation, Willianto Ie, an analyst at Nomura Holdings Inc., wrote in a note today. “The valuation of the Indonesian market is still far from demanding,” he said. 

Foreign investors as of Jan. 25 sold a net $428 million of Indonesian stocks this month, the most since May 2005, data compiled by Bloomberg show. 

Ross said Auerbach Grayson favors mining stocks. The Jakarta Mining Index is in a “strong technical position,” with miners displaying relative strength through the recent correction, he wrote. “Bullish trends are accelerating.” The mining gauge advanced 1.7 percent today, paring an annual loss to 1.2 percent. 

In technical analysis, investors and analysts study charts of trading patterns and prices to predict changes in a security, commodity, currency or index. A support level is an area where they anticipate buy orders to be clustered. Fibonacci analysis is based on the theory that prices tend to drop or climb by certain percentages after reaching a high or low. Source: Reuters

PGN plans 1.5-2 mln T LNG terminal in Sumatra

PT Perusahaan Gas Negara (PGN) , Indonesia's biggest gas distributor, said on Thursday a planned floating LNG regasification terminal in northern Sumatra will have a capacity of 1.5 to 2 million tonnes a year.

PGN has appointed Foster Wheeler to manage the terminal project in Belawan and a tender for engineering is expected to be finished by early in the second quarter, PGN's corporate Secretary Wahid Sutopo said at a gas conference in Jakarta.

"The capacity of the terminal will be around 200 million cubic feed per day of gas or 1.5 to 2 million tonnes per year," Sutopo told Reuters, declining to give a figure for investment.
PGN also plans together with state energy firm PT Pertamina a floating LNG receiving terminal near Jakarta with capacity of around 3 million tonnes a year, to be built by Golar LNG .

Indonesia, the world's number-three LNG exporter after Qatar and Malaysia, is increasing its use of natural gas at home to avoid costly imports and dwindling domestic supply. Its exports of LNG will fall to 362 cargoes this year from 427 in 2010. Source: Reuters

Panasonic May Double Production Capacity for LED Light Bulbs in Two Years

Panasonic Corp. may double its production capacity for light bulbs using light-emitting diodes within two years to tap the growing market for energy-saving devices, an executive said. 

Sales of LED lamps in Japan may surge 64 percent next fiscal year, Yoshio Ito, president of Panasonic’s lighting business, said in an interview yesterday.

“We won’t be able to attain our target unless we at least double our capacity,” Ito said. Panasonic plans to boost sales of the light bulbs outside Japan as well, he said. 

Japan’s largest maker of home appliances expects sales at its lighting unit will jump 43 percent to 100 billion yen ($1.2 billion) by March 2013, Ito said. The Osaka-based company faces competition in the light-emitting diode market from manufacturers including Toshiba Corp. and Royal Philips Electronics NV, the world’s biggest lighting company. 

Panasonic rose 0.5 percent to 1,160 yen as of 9:23 a.m. in Tokyo trading. The benchmark Nikkei 225 Stock Average gained 0.6 percent. 

Panasonic makes LED bulbs at factories in China and Indonesia and has an annual production capacity of about 6 million units, Ito said. 

The company aims to win half of the market for LED lamps in Japan in the fiscal year ending March 2011, when industrywide sales may increase to 18 million units from 11 million in the current fiscal year, Ito said. Panasonic may also need to make 3 million to 4 million units for overseas sales next fiscal year, he said.  Source: Bloomberg

Laba Bersih MNC 2010 Melonjak 94%

PT Media Nusantara Citra Tbk (MNCN) membukukan kenaikan laba bersih pada 2010 sebesar 94% dari Rp 386 miliar pada 2009 menjadi Rp 748 miliar. Hal ini terjadi seiring pertumbuhan hasil pendapatan konsolidasi sebesar 27% dari Rp 3,92 triliun menjadi Rp 4,99 triliun.

Pendapatan iklan MNC dalam setahun terakhir tumbuh 32%. Sedangkan pendapatan dari content & value added services juga meningkat sebesar 20%. EBITDA 2010 tercatat melonjak sebesar 86% dari Rp 774 miliar tahun 2009 menjadi Rp 1,44 triliun.

EBITDA marjin juga turut meningkat dari 20% menjadi 29%. "Kami telah berhasil meningkatkan posisi kami sebagai perusahaan media terdepan di Indonesia dan kami juga telah mencatat kinerja yang sangat baik selama 2010. Kami tetap percaya bahwa kami akan dapat terus mempertahankan kinerja yang sangat baik ini pada 2011," jelas Harry Tanoesoedibjo, CEO dari MNC Group dalam keterbukaan informasinya ke otoritas Bursa Efek Indonesia, semalam.

Indofood lifts instant noodle price, may push up inflation

PT Indofood CBP Sukses Makmur , the world's top noodle maker, has raised the price of its instant noodles by roughly 10 percent a pack, in a move that lifted its share price over 4 percent but that could also push up the country's inflation.

The firm raised the price of its top brand Indomie by 100 rupiah (1.1 cents) a pack in mid-January, Franciscus Welirang, a director at parent company PT Indofood Sukses Makmur, said on Wednesday.

Higher wheat prices have affected Indonesia, which relies entirely on imports for its wheat. Southeast Asia's largest economy consumed 4.39 million tonnes of wheat flour last year, a 10.5 percent increase from 2009.

Rising prices of instant noodles, which along with rice are considered a staple food for the majority of Indonesians, may push up inflation this month, said Djamal, a deputy at the country's statistics bureau.

"If the consumption is high, it will impact inflation. Based on our records, on average the price of chilli has dropped slightly, while rice still rises a bit," he said.

Last week, the statistics bureau head said monthly inflation in January would be around 0.5 percent, and inflationary pressures would not be as high as last month, when inflation reached a 20-month high at 6.96 percent year-on-year because of rising food costs.

Higher-than-expected inflation in January will pressure the central bank to raise rates, which it has held at a record low 6.5 percent for over a year.

Investors have sold off Indonesian assets this year on worries the central bank may be behind the curve in tackling inflation. Indofood's rally on Wednesday pushed its stock up 1.6 percent for the year, versus a 5.5 percent decline for the index . ($1 = 9,036 rupiah). Source: Reuters

Rekomendasi Beberapa Sekuritas, 27 Januari 2011

Berikut rekomendasi dari lima sekuritas ternama untuk perdagangan Kamis, 27 Januari 2011.

 

1. E-Trading Securities

Pada perdagangan Rabu (26/1), IHSG  ditutup naik 67,8 poin (1,97%) ke level 3.501,72, di mana asing melakukan net buying Rp 517 miliar. Sektor yang paling banyak dimasuki asing adalah perbankan senilai Rp 379 miliar. Sedangkan penjualan asing terbesar terjadi di sektor batubara sebesar Rp 43 miliar, menyusul turunnya harga minyak dunia akibat rencana OPEC menggenjot produksi.

Total transaksi kemarin mencapai Rp 5,5 triliun. Hari ini indeks diperkirakan bergerak pada kisaran 3.470-3.590. Aksi profit taking akan membatasi rally pada perdagangan hari ini. Cermati PGAS, UNVR, INTP

2. Kresna Sekurindo

IHSG kemarin melanjutkan penguatan didukung penguatan saham-saham perbankan. Indeks hari ini diperkirakan menguji resistance di 3.455-3.550. Patut dicermati tekanan profit taking di area resistance 3.530-3.550. PGAS dan SMGR menjadi saham pilihan hari ini.

3. Sinarmas Sekuritas  

 Pada perdagangan hari ini (27/1), indeks diperkirakan bergerak mixed dengan kecenderungan menguat di kisaran 3.458-3.545. Arah pasar finansial akan ditentukan oleh hasil Rapat Dewan Gubernur Amerika Serikat (AS). Hasil rapat akan memberikan indikasi tentang kestabilan ekonomi AS yang akan berdampak pada pasar finansial global. Sentimen positif diharapkan datang dari bursa regional yang dapat mendukung pergerakan indeks ke arah positif. Penguatan harga logam juga diharapkan turut mendukung penguatan indeks terutama saham-saham komoditas logam. Amati INTP, BBTN, ICBP, dan ROTI.

4. Erdhika Sekuritas

Pada perdagangan kemarin, hampir seluruh sektor menguat, kecuali agrikultur yang melemah 0,59%. Asing membukukan net buying Rp 530 miliar. Secara teknikal, indeks masih berpotensi menguat di kisaran 3.444-3.560 dengan saham-saham pilihan KLBF, BBTN, LPKR.

5. Sucorinvest Central Gani

Kemarin, indeks menguat di atas 3.500 dan ditutup plus 67,81 poin di 3.501,72. Hal ini menyusul menguatnya indeks bursa global setelah Presiden Amerika Serikat Barack Obama berjanji memacu pertumbuhan ekonomi negeri itu. Hari ini indeks diprediksi menguat berfluktuasi dengan potensi profit taking pada kisaran 3.472-3.530.  Buy BLTA, BMRI, BNGA, INCO, WIKA, dan jual AALI, BUMI.