Indonesia to name Kalimantan rail project winner in Dec

Indonesia will announce the winning bid for a $2.2 billion coal railway project in Kalimantan in December and it has shortlisted four bidders, the governor of Central Kalimantan province said on Thursday at an infrastructure conference in Jakarta. 

The government had previously said it would announce the winner for the project in February 2011. 

"The winner of the Puruk Cahu-Bangkuang railway project will be announced in December and we have four bidders on the shortlist," said provincial governor Teras Narang.

The four are Itochu Corp , Kalimantan firm Mega Guna Ganda, Bakrie Indo Infrastructure, a unit of Indonesia's Bakrie Group, and the MAP consortium, which the governor said had British connections. 

The 185-km (115-mile) railway will connect Puruk Cahu in inland Central Kalimantan province to a port on the coast. Source: Reuters

GMR to start mining coal in Indonesia next month

GMR Energy would start mining activity at its coal mine in Indonesia from next month, according to a source. "The company would start extracting coal from one of the two separate blocks in South Sumatra, Indonesia next month," he said.

In 2009, GMR Energy acquired 100 per cent ownership of PT Barasentosa Lestari (PTBSL), a coal mining company in Indonesia for about USD 100 million. PT BSL is holding a legal coal mining licence under the Coal Contract of Work issued by the government of Indonesia. The licence provides 25 year mining authorisation over two separate coal blocks in South Sumatra, Indonesia.

The company bought the coal mine with the purpose of securing fuel supplies for its thermal power projects in India. These acquisitions will also help in circumventing the volatility of fuel prices for its imported coal based coastal power plants in India.

Meanwhile, the company has acquired a 33.5 per cent stake in Homeland Energy Group Ltd (HEG) which owns coal properties in South Africa through its subsidiary the Homeland Mining and Energy (HMESA).

HEG owns a controlling interest in the already operational Kendal mines, fully explored Eloff mines and other exploration sites with total mineable reserves of around 300 million tonnes. GMR Energy has acquired 100 per cent ownership interest in EMCO Energy Ltd, (a subsidiary of EMCO Ltd), a Public Limited Company.

EMCO Energy is developing a 600 MW coal based power plant, in two phases (of 300 MW capacity each), in Warora, Maharashtra. GMR Energy is operating a 200 MW coal-based project at Chennai in Tamil Nadu and is also constructing 1,050 MW thermal project at Dhenkanal in Orissa, which would be operational next year. Source: Economic Times

Indonesia To Offer IDR8.8 Trillion Jakarta Port Expansion Project To Investors - Official

Indonesia will open a IDR8.8 trillion ($1.0 billion) project to expand Jakarta Port to bids from investors by next month at the earliest, a government official said Thursday.

"Hopefully, we can open the bidding process in May, or July at the latest," Director General of Sea Transportation Sunaryo told reporters.

Sunaryo, who uses one name, added the project will allow the port to handle an additional 1.2 million containers a year, which is expected to attract more investors to invest in the area around Jakarta.

He added the extension of Indonesia' busiest sea port is expected to be completed by 2014. Source: Dow Jones

BII considering rights issue, no timeframe

Bank Internasional Indonesia (BII) , an Indonesian lender, is considering a rights issue, its CEO said on Thursday, without giving a timeframe or other details. 

Malaysia's largest lender, Malayan Banking Bhd (Maybank) , owns a 97 percent stake in BII but is in talks with Indonesian regulators to cut it to 80 percent. Source: Reuters

Rekomendasi Beberapa Sekuritas, 14 April 2011

1. E-Trading Securities

Indeks harga saham gabungan kemarin naik 15 poin (0,41%) ke level 3.734,41, seiring positifnya pergerakan indeks bursa global. Secara teknikal, indeks kemarin ditutup di level resistance di 3.730, sehingga berpotensi melanjutkan rally hari ini. Indikator Stochastic dan RSI sama–sama menunjukkan pergerakan ke bawah menjauhi area overbuy. Pada Kamis (14/4), indeks akan bergerak di kisaran 3.698–3.747. Cermati BUMI, BBCA
dan INTP.

2. Kresna Sekurindo

Di tengah sentimen negatif regional, indeks mampu menguat 15 poin. Tapi, Stochastic yang cenderung deadcross masih mengindikasikan adanya potensi tekanan jual dengan 3.675 sebagai level kunci. Untuk hari ini, IHSG diperkirakan bergerak di kisaran 3.690-3.750. SMCB dan UNTR menjadi saham pilihan kami.

Rekomendasi HD Capital, 14 April 2011

Berikut rekomendasi HD Capital untuk perdagangan Kamis, 14 April 2011.

BUY: (SMGR, INDF, ASII, JSMR)

• Technical rebound IHSG akan berlanjut untuk memperkuat daerah akumulasi support di 3.730-3.700 sehingga skenario mengetes old high di 3.770 dapat berlanjut.

• IHSG close (13-04) 3.718.387(+0.910/+0.06%) (Val.Rp.3.4T)

• Support: 3.700-3.650-3.550, Resistance: 3,770-3,850

 

Stock picks:

1.     Semen Gresik (SMGR): (BUY) (target: Rp 9.800) (close 13/04 Rp 9.550)

• Ketakutan pasar mengenai kurangnya daya produksi semen kelihatannya sudah mereda karena program ekspansi yang dilakukan sesuai jadwal dan diprediksi selesai akhir 2011 sehingga SMGR dapat menjadi produser semen terbesar di Indonesia.

• Naiknya biaya produksi akibat tingginya listrik dapat direduksi oleh pemakaian pembangkit listrik bertenaga batubara oleh pabrik Tonasa.

• Entry (1) Rp 9.450, Entry (2) Rp 9.250, Cut loss point: Rp 9.100

 

2.    Indofood Sukses Makmur (INDF) (BUY): (Target: Rp 5.600) (Close 13/04 Rp 5.350)

• Walaupun masih dalam pola sideways, namun daily stochastic yang memberikan buy signal menandakan kemungkinan pola tersebut akan breakout keatas dalam waktu dekat.

• Kenaikan harga gandum (bahan baku) yang tidak mempengaruhi margin keuntungan penjualan mie instan serta eksposur ke komoditas CPO dan gula di tengah naiknya harga komoditas menjadi katalis positif untuk breakout

• Entry (1) Rp 5.300, Entry (2) Rp 5.100, Cut loss point: Rp 4.850

 

3.   Astra International (ASII) (BUY): (Target: Rp 57.900) (Close 13/04 Rp 56.150)

• Pasca rights issue United Tractors (UNTR) dimana ASII menjadi standby buyer, kepemilikan akan bertambah sehingga setoran dividen dari UNTR juga meningkat.

• Komponen sparepart impor ke produksi mobil Avanza dan Innova (80% dari total produksi mobil) hanya 10% sehingga tidak pengaruh banyak

• BI rate masih tetap 6.75%, inflasi melambat, dan BI rate akan tetap hingga ada keputusan jelas kapan BBM dinaikkan (subsidi dicabut).

• Entry: (1) Rp 55.900, Entry (2) Rp 55.250, Cut loss point: Rp 54.900

 

4.  Jasa Marga (JSMR) (BUY) (Target: Rp 3.525) (close 13/04 Rp 3.400)

• Pertumbuhan jaringan jalan tol dan volume kendaraan dan suku bunga kondusif (BI rate tetap) untuk pembiayaan proyek ekspansinya merupakan katalis positif untuk meneruskan minor uptrend pasca kondolidasi sideways in.

• Exit (1) Rp 3.400, Entry (2) Rp 3.325, Reverse posisi: Rp 3.175

 

 

Dibuat oleh: 

Yuganur Wijanarko

Senior Research HD Capital (Yuganur@hdx.co.id)