United Tractors Beli Lagi 30,4% Saham Dua Perusahaan Tambang Batubara

PT United Tractors Tbk (UNTR) menambah kepemilikan sahamnya pada PT Asmin Bara Bronang (ABB) dan PT Asmin Bara Jaan (ABJ) sebesar 30,4%, sehingga total kepemilikan UNTR menjadi 60,4% karena sebelumnya perseroan telah menguasai 30% saham kedua perusahaan tersebut. Pembelian saham tambahan itu dilakukan pada 27 Juli 2011 melalui PT Pamapersada Nusantara selaku anak perusahaan UNTR.

Laba Bersih Jaya Agra Wattie Semester I 2011 Melonjak 121%

PT Jaya Agra Wattie Tbk (JAWA) pada semester I-2011 berhasil meraup laba bersih Rp 115,83 miliar, naik 121,3% dibandingkan periode yang sama tahun lalu sebesar Rp 52,34 miliar. Kenaikan ini berkat kontribusi penjualan bersih yang dalam setahun terakhir naik 65% dari Rp 202,26 miliar menjadi Rp 333,85 miliar.

Beban pokok penjualan maupun beban usaha perseroan bergerak naik secara moderat, yakni masing-masing 46,65% dan 31,65% sehingga masih membuat laba kotor dan laba usaha JA Wattie tumbuh masing-masing 86,58% menjadi Rp 173,95 miliar dan 96,7% menjadi Rp 154,9 miliar.

Laba bersih per saham pada Juni 2011 adalah Rp 35/saham dibandingkan Juni 2010 sebesar Rp 28/saham.

Aspek	Juni 2010	Juni 2011	%
Penjualan bersih	202.26	333.85	65.06
Beban pokok penjualan	109.03	159.89	46.65
Laba kotor	93.23	173.95	86.58
Beban usaha	14.47	19.05	31.65
Laba usaha	78.75	154.9	96.70
Laba sebelum pajak	71.47	148.34	107.56
Laba bersih	52.34	115.83	121.30
Laba bersih per saham	28	35	25.00

Telkom Q2 net profit falls 4 pct

Telekomunikasi Indonesia , Indonesia's biggest telecoms firm, said on Friday that its second quarter net profit fell 4 percent on higher costs.

The firm, which plans to buy a majority stake in Cambodia's largest mobile operator CamGSM, posted 3.11 trillion rupiah ($366 million) net profit in the second quarter, versus 3.23 trillion rupiah in the same period last year.

Telkom was expected to post a full year 2011 net profit of 12.1 trillion rupiah, according to a consensus of analysts by Thomson Reuters I/B/E/S.

Shares in Telkom were up 0.68 percent ahead of the results but traded flat by 0802 GMT. They fell nearly 8 percent in the first half of the year to underperform a Jakarta index up around 5 percent. ($1 = 8497 rupiah). Source: Reuters

Bank Rakyat Indonesia Q2 net profit jumps 67 pct

Bank Rakyat Indonesia , the world's biggest micro lender, had a 67 percent rise in second-quarter net profit driven by strong domestic demand boosted loan growth, a statement seen by Reuters showed on Thursday.

Net profit rose to 3.5 trillion indonesian rupiah ($412 million), compared with 2.1 trillion rupiah in the same period a year earlier, according to a Reuters calculation based on the lender's first-quarter and first-half results.

First-half net profit rose by 58 percent to 6.8 trillion rupiah from 4.3 trillion rupiah in the same period a year ago while net interest income rose by 23 percent to 16.9 trillion rupiah.
Analysts have forecast Bank Rakyat's 2011 net profit will rise by 12 percent to 12.9 trillion rupiah, according to Thomson Reuters I/B/E/S.

Shares in Bank Rakyat closed down 1.5 percent. They have risen nearly 24 percent in the first half of the year to outperform a Jakarta index up around 5 percent. ($1 = 8497.0 Rupiahs). Source: Reuters

Laba Bersih Intraco Penta Melonjak 96,1%

PT Intraco Penta Tbk (INTA) pada semester I 2011 berhasil membukukan laba bersih Rp 61,28 miliar, naik 96,09% dari semester I 2010 sebesar Rp 31,25 miliar. Kenaikan ini dikontribusi oleh pendapatan usaha yang selama setahun naik 56,1% menjadi Rp 1,35 triliun.

Beban pokok pendapatan pada periode yang sama turut meningkat 59,51% menjadi Rp 1,16 triliun, sehingga INTA mengantungi laba kotor Rp 196,12 miliar atau naik 38,55% dari semester I 2010 sebesar Rp 141,55 miliar.

Laba bersih per saham dasar tercatat sebesar Rp 30/saham pada Juni 2011 dibandingkan Juni 2010 sebesar Rp 72. Hal ini menyusul dilakukannya stock split 1:5 pada bulan Juni 2011.

Aspek	Jun-10	Jun-11	%
Pendapatan usaha	868,77	1356,11	56,09
Beban pokok pendapatan	727,23	1159,98	59,51
Laba kotor	141,55	196,12	38,55
Jumlah beban usaha	78,52	99,98	27,33
Laba usaha	63,04	96,14	52,51
Beban lain-lain bersih	-18,15	-9,96	45,12
Laba sebelum pajak	44,88	86,17	92,00
Laba bersih	31,25	61,28	96,09
Laba per saham dasar	72	30	-58,33

Tata Power's Mundra unit gets Bumi Resources' coal

Tata Power said it has received coal from KPC / Arutmin mines, Indonesia, for its 4,000-MW Ultra Mega Power Project at Mundra.

The super-critical technology-based power plant requires imported coal.

Ahead of schedule

The first unit of 800-MW plant is ready, ahead of its scheduled date in mid-September. However, Power Grid is in the process of commissioning the transmission lines which were delayed due to forest clearances. 

Further, recent Indonesian regulations on export of coal from that country stipulate that prices need to be benchmarked to international prices or market rates. While initial reports suggested that market prices should be followed from September 23, sources said Jakarta had given six months for all mining and exploration companies to adhere to its new norms. 

The shipment, by a cape size vessel owned by its Singapore subsidiary, Trust Energy Resources, anchored at the Mundra port on Wednesday. The 181,000 DWT (dead weight tonnage) cape vessel delivered by STX Shipyard, Korea, was on its maiden voyage. 

Mr Anil Sardana, Managing Director, Tata Power, said, “This is a significant moment for us and is aligned to our strategy of being an integrated power player. With this objective in mind, Trust Energy was set up to securitise coal supply and shipping of coal for our thermal projects.” 

Tata Power said the arrival of coal at Mundra marked a new trend in India of transporting and receiving coal in large tonnage of up to 1,80,000 tonnes for captive consumption. Source: Business Line

BCA, Mandiri post strong Q2 profit

* Mandiri Q2 net up 23 pct, revises up 2011 loan growth

* BCA Q2 net up 41 pct on commercial, consumer loans

Leading Indonesian banks, Bank Mandiri and Bank Central Asia , posted strong second-quarter net profit growth on Thursday, reflecting buoyant domestic demand for loans in Southeast Asia's biggest economy. 

BCA, the largest by market value and No. 3 lender, saw a 41 percent jump in profit from a year ago, while the largest lender Mandiri said profit rose by 23 percent, leaving them both on track to meet analysts' expectations for full-year growth. 

Investors have poured into the stocks of both banks and Indonesia generally this year, as they seek exposure to an economy belying a global slowdown by growing at over 6 percent and driven by consumption from an emerging middle class. 

"As long as Indonesia's economy is growing strongly, companies that provide consumer services will do well. And Indonesia's economy still looks good, so it will be good for banks going forward," said Eric Sugandi, an economist at Standard Chartered in Jakarta. 

Mandiri's CEO Zulkifli Zaini said the firm has slightly revised up its loan growth outlook to 21-23 percent for this year, after posting 27 percent credit growth in the first half.

BCA, controlled by the nation's wealthiest business empire the Djarum Group, plans to expand its reach into the mortgage and securities business as it sees loan growth in housing could rise by more than 35 percent this year, to outpace overall loan growth of about 20 percent. 

"What drove loan growth in the second quarter was commercial and consumers," said BCA's CEO Jahja Setiaatmadja.

Investor bullishness on the Indonesian consumer was also underlined by a 26 percent rise in second-quarter profit for top car retailer Astra International on Thursday, though higher costs weighed down profits at Indocement despite its strong cement sales. 

Inflation has eased in recent months but is expected to pick up again from August, and July saw two strikes over higher pay -- at miner Freeport and flag carrier Garuda -- signalling the country's competitive advantage of having among the cheapest labour costs in the region may fade. 

HEADING OVERSEAS

Mandiri plans to expand its reach into China and Malaysia as it aims to be among the top five biggest banks in Southeast Asia by 2015. In Indonesia it is pushing into the fast-growing microfinance sector to compete with Bank Danamon. 

 

The firm's second-quarter net profit was 2.5 trillion rupiah ($294.6 million), compared with 2.04 trillion rupiah in the same period a year earlier, according to a Reuters calculation based on the lender's published first-quarter and first-half results. 

Analysts forecast Mandiri's 2011 net profit will rise by 26 percent to 11.64 trillion rupiah, according to Thomson Reuters I/B/E/S. 

BCA's second-quarter net profit was 2.78 trillion rupiah ($327.5 million), compared with 1.97 trillion rupiah in the same period a year earlier, according to a Reuters calculation based on the lender's published first half results. Its net interest income rose 37 percent in the first half versus 2010. 

Analysts' forecast BCA's 2011 net profit will rise by 13 percent to 9.58 trillion rupiah, according to Thomson Reuters I/B/E/S. 

The strong outlook has drawn investor interest in buying stakes in local lenders, though existing foreign players are now concerned by the possibility of limits on majority ownership, while valuations are high.

BCA trades at 5.7 times price-to-book and Mandiri at 3.3 times, versus 1.3 times for regional leader DBS Group , according to data from Thomson Reuters Starmine.

Shares in both lenders slipped ahead of the results on Thursday amid a regional sell-off as worries mount over the potential for a U.S. debt default, though both have outperformed the Jakarta index so far this year. 

Mandiri shares have gained 24 percent this year and BCA has climbed 28 percent, versus the index's 11 percent rise. Indonesia's stock market is the region's best performer and hit a fresh record on Wednesday. ($1 = 8487.5 Rupiah). Source: Reuters

Indonesia’s Coal-Export Ban May Deter Investments, Mulyono Says

Indonesia’s plan to ban exports of low-quality grade thermal coal may discourage new investment in the world’s biggest exporter of the power-station fuel, said a production company executive. 

A ban may also hurt India and China, which seek coal with a heating value of as much as 4,500 kilocalories a kilogram for blending with higher-grade domestic output, said Jeffrey Mulyono, president director of PT Bhakti Energi Persada. 

“Banks may stop funding low-rank coal producers as they will see that the companies are not feasible anymore in the longer term if the ban is imposed,” Mulyono said by telephone from Jakarta today. “How can we expand and run our business if we cannot get financial support from banks?” 

Indonesia plans to ban overseas sales of coal with energy of less than 5,100 kilocalories a kilogram, requiring miners to upgrade the burning value if they want to export, according to a draft of a ministerial decree posted on the Directorate General of Coal and Minerals’ website. The government had earlier proposed halting sales of grades with a value below 5,600 kilocalories. 

The price of coal for sale this month with an energy value below 5,100 kilocalories was between $61.04 and $83.54 a metric ton, according to government prices. That compares with $118.24 a ton for benchmark coal with a heating value of 6,322 kilocalories a kilogram. 

Bhakti Energi and its affiliate PT Pesona Khatulistiwa Nusantara produce coal with a heating value of 3,400 kilocalories a kilogram from mines in East Kalimantan province, said Mulyono, who is also president director of Pesona. 

Pesona is estimated to produce 1.5 million tons of coal this year and will boost output to 6 million tons in 2014, he said.

Upgrading Technology

Low- and medium-grade coal accounts for about 60 percent of Indonesia’s production, Mulyono said. The country’s output may rise 19 percent to 326.65 million tons this year, the energy ministry said in January. 

“The main issue for the plan is the upgrading technology,” Mulyono said. “There are some small projects but none of them are commercially proven for larger scale.” 

Investment in coal industry infrastructure such as railways and ports may also be canceled because of the ban, Mulyono said. “Investors won’t risk spending billions of dollars if they see it won’t support their mining business,” he said. Source: Bloomberg

Saham-saham yang dominan dibeli asing, 28 Juli 2011

Saham-saham yang dominan dibeli asing, Kamis 28 Juli 2011.

Kode saham                       Volume                         Jual                Beli

AALI	603,500	21,000	197,000
ADHI	8,529,000	0	405,000
ADRO	107,957,000	8,477,000	78,372,000
AISA	13,865,500	0	2,700,000
AKRA	20,108,500	2,695,000	5,050,000
ALMI	2,009,500	0	10,000
AMFG	233,500	0	80,500
ASGR	14,587,000	100,000	543,500
BBKP	148,338,500	2,923,500	35,329,000
BBLD	4,183,500	0	1,829,500
BBNI	26,557,500	3,675,500	16,718,500
BBTN	9,604,500	70,000	3,314,500
BDMN	9,024,000	2,436,500	2,687,500
BFIN	557,500	269,000	443,000
BISI	3,510,500	0	60,000
BJBR	22,758,500	1,943,000	7,478,500
BKSL	117,823,000	2,165,000	4,061,500
BMRI	27,809,500	15,215,000	15,765,500
BMTR	17,323,000	21,500	3,738,500
BNBR	426,761,500	32,250,000	38,758,000
BNGA	8,608,500	104,000	1,535,500
BNII	2,656,500	62,500	120,000
BNLI	760,000	0	268,000
BRAU	19,441,500	0	6,500,000
BRPT	3,052,000	0	68,500
BSDE	14,045,000	7,692,500	8,421,500
BTEL	11,687,000	0	726,000
BUDI	2,207,000	0	204,500
BULL	34,704,000	3,704,000	23,500,000
BUMI	33,004,500	5,015,500	13,690,500
BWPT	11,958,000	0	3,582,000
CFIN	5,060,000	10,000	895,000
CTRP	12,146,500	3,688,500	8,227,500
CTRS	737,500	0	11,000
DART	29,221,000	12,500	1,300,000
DEWA	217,138,000	97,500	15,369,500
ELTY	222,208,500	26,270,000	36,803,500
EMDE	3,043,000	0	1,527,000
ENRG	447,854,000	28,527,000	42,789,500
EPMT	133,500	0	120,000
GJTL	3,919,000	405,000	1,816,000
HRUM	5,395,000	324,000	1,609,500
IATA	262,921,000	1,001,500	9,490,000
IGAR	1,335,000	0	300,000
IMAS	4,986,500	1,178,500	3,583,500
INDF	13,717,500	1,569,500	5,173,000
INKP	3,918,000	0	704,500
INRU	35,500	0	35,500
INTA	25,385,000	0	1,001,500
INVS	218,500	145,000	203,500
IPOL	72,700,500	500,000	10,550,000
ITMG	1,077,000	142,500	335,000
JAWA	23,280,000	0	2,745,000
JKON	76,000	0	76,000
JPFA	2,285,500	280,000	420,500
JPRS	3,777,000	0	15,000
JTPE	6,249,500	0	1,232,000
KKGI	782,000	50,000	163,000
KLBF	7,422,000	4,353,000	4,821,500
KRAS	144,855,000	1,517,000	3,678,500
LPCK	23,828,500	0	1,250,000
LSIP	10,232,500	1,798,000	2,282,000
MAIN	9,738,000	0	30,000
MAPI	9,153,500	1,156,500	1,752,500
MASA	3,454,500	0	991,000
MBAI	18,000	0	8,500
MBTO	5,653,000	0	1,480,000
MEDC	3,316,500	5,000	1,040,000
MNCN	4,929,000	900,000	2,640,000
MTLA	14,324,500	0	6,387,000
MYOR	556,500	51,000	295,500
MYRX	52,277,000	0	545,000
PANS	322,000	0	20,000
PKPK	6,152,000	0	100,000
PNBN	72,576,500	1,000,000	1,301,500
PNLF	54,147,500	110,000	5,075,000
PTBA	3,387,000	289,000	526,500
RMBA	3,762,000	200,000	227,500
ROTI	112,500	0	67,000
RUIS	8,789,500	20,000	40,000
SAIP	83,500	0	12,500
SGRO	8,072,000	280,500	3,487,500
SIMP	79,559,000	10,597,000	10,988,000
SIPD	218,262,000	0	7,285,000
SMCB	8,083,000	30,500	3,180,500
SMRA	27,633,500	887,000	20,820,500
TKIM	660,500	0	34,500
TLKM	19,621,500	1,377,000	8,955,000
TURI	6,981,500	0	2,000,000
UNSP	38,837,000	60,000	1,072,000
UNVR	9,915,000	328,000	1,685,500
WICO	166,000	0	45,500
WIKA	5,534,500	148,500	4,816,000

Rekomendasi Beberapa Sekuritas, 29 Juli 2011

Rekomendasi beberapa sekuritas untuk perdagangan Jumat, 29 Juli 2011.

1. E-Trading Securities

Perdagangan kemarin, IHSG turun  28 poin (-0,68%) ke level 4.145 dengan net selling asing Rp 15 miliar.  Secara teknikal, IHSG masih berpotensi terkoreksi dan kembali menguji garis support MA5 di range 4.108-4.174. Cermati ENRG dan BHIT.

Reliance Securities

Dari Indikator Bill William, terlihat IHSG melambat dengan batasan fractal 4.003. IHSG masih dapat melanjutkan penurunan jika bergerak menembus support terdekatnya pada level 4.106, sementara resistance di 4179. Saham AALI, ASII, BBRI, BMRI dan UNTR menunjukkan sinyal partial sell.

Rekomendasi HD Capital, 28 Juli 2011

Rekomendasi HD Capital untuk perdagangan Jumat, 29 Juli 2011.

BUY: (ASII, MBTO) SELL: (BBKP, INDF)

• Walaupun terimbas koreksi Dow Jones namun IHSG berhasil menutup ke atas mengurangi level minusnya menandakan terjadi bargain hunting yang dapat dilanjutkan dengan technical rebound sehingga terbuka kesempatan trading yang menarik, namun perlu dilihat potensi profit taking di beberapa counter yang naik banyak dan masuk zone overbought (jenuh beli).

• IHSG close (28-07) 4.145.64 (-28.33/-0.58%) (Val.Rp.3.8T) 

• Support: 4.125-4.025-3.996, Resistance: 4.175-4.250

 

Stock picks:

1.     Martina Berto (MBTO) (BUY) (Target Rp 600) (Close 28/07 Rp 530)

• Momentum Lebaran biasanya diwarnai peforma yang cukup baik untuk sector consumer goods, rekomen melirik pembuat kosmetik MBTO dimana pelaku pasar mulai pricing in kinerja laporan keuangan untuk 1H 2011 akan terus belangsung sepanjang tahun didukung oleh daya beli masyarakat kuat.
• Entry (1) Rp 520 Entry(2) Rp 510, Cutloss point: Rp 490

 

2.    Astra International (ASII) (BUY): (Target: Rp 73.500) (Close 28/07 Rp 71.750)

• Fund flow asing diperkirakan masih berlangsung di saham dengan kapitalisasi terbesar ini untuk menjadikannya sebagai core holding dan proxy untuk riding domestic demand consumer and credit theme.

• Entry: (1) Rp 71.700, Entry (2) Rp 70.350, Cut loss point: Rp 69.500

 

3.   Bank Bukopin (BBKP) (SELL): (Koreksi: Rp 800) (Close 28/07 Rp 850)

• Hasil laporan keuangan 1H 2011 yang sudah tercermin dalam harga, keadaan yang overbought (jenuh beli) dan sudah tercapainya target 12-bulan fundamental riset HD (Rp 860) yang dikeluarkan sejak November 2010 mengundang profit taking dan koreksi mendatang.

• Exit (1) Rp 860, Exit (2) Rp 870, Reverse posisi: Rp 890

 

4.       Indofood Sukses Makmur (INDF) (SELL): (Koreksi: Rp 6.150) (Close 28/07 Rp 6.300)

• Keadaan yang overbought pasca kenaikan yang cukup tajam kemarin mengundang profit taking dan berisiko koreksi, rekomen berhati-hati dan sebaiknya melakukan sell dulu dan menunggu pullback turun untuk masuk kembali.

• Exit: (1) Rp 6.400, Entry (2) Rp 6.500, Reverse posisi: Rp 6.650

 

 

Dibuat oleh: 

Yuganur Wijanarko

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