OSK Nusadana: TRADE Is Likely To Be Consolidated
Profit taking ended the TRADE on the rise in trading yesterday, and weakened 29 pts to then close at level 3, 909.6 (0.74%)-. Almost all sectors except agriculture decreased. Some of the market shares among other laggers ASII, INTP, UNVR, TLKM and GGRM. While some of the stock market decline is the anchoring SMGR, EARTH, SMCB, and the PTBA, of ANTM SITE. Foreign net Buy recorded doing for Rp280 Billion with stocks that most purchased include BMRI, BBRI, SMGR, EARTH and PTBA. However looking at yesterday's sales volume, we are still assessing the drop in the fair TRADE still in the stage. While the regional Asian exchanges with Nikkei up moving mix + 0.3%, the Hang Seng + 0.78%, and Kospi-0.60%.
While US and European bourses moved greatly weakened by the Dow-0.10%, the FTSE-0.45%, and DAX-0.17%. From commodity production of crude palm oil (CPO) in Malaysia down deeper than a decrease in its export performance in the month of December. Oil World mention of Malaysia, the export of CPO in the month of December, down about 3% while production fell 10%. Oil WTI price end his rectified, and dropped by almost 2% to as low as US 100.8/brl after surviving in price USD102/brl. Other commodities were moving mix with nickel-0.36%, iron ore and Tin + 2.1% + 0.99%.
Trading Ideas
Partners Investindo or MITI, a company engaged in the production of granite, print sales almost 2 x as much on their sales in 3Q11 than 3Q10. It also affects their net profits where they scored a profit of Usd 11.0 Billion, significantly higher profit dibadingkan them on the only 3Q10 of Rp1 Billion. This, in addition to the increase in profit was supported by an increase in sales, as well as the efficiency of the companies in optimizing their Operating expense. MITI is currently trading at a 6.9 x 2.8 x and PBV.
From the Construction sector, the endorsement of the Land Acquisition Bill or Act Exemption is expected to be memepercepat the construction of infrastructure in Indonesia. His own Government Usd mengangarkan SHA 1,786 billion for the construction of ports, airports, highways, power plants, within the next 5 yrs forward. For the year 2012, the contractors Association projected construction expenditures Indonesia value may reach Rp national 250 trillion or increases nearly 20% over the previous year to reach Rp 204 billion. It is of course its going to open up opportunities for companies to better get a lot of onstruksi project. ADHI, WIKA, PTPP and TOTL. Here is a comparison of company stocks: ADHI konsutruksi, WIKA, and TOTL entered in coverage with OSK BUY recommendations.
Adhi Karya (ADHI) is expected to increase profits in FY12 print by 15%, the increase was supported by, among others a contract by issuers on the project diapatakan Pertamina's Residual Fluid Catalytic Crackin (FRCC) at Pertamina, From the project itself, is expected to boost company revenue by 15-23% for the year 2012-2013. ADHI is also planning to do the Right Issue in 2012 is to increase the liquidity of the company. Currently recommended BUY by TP ADHI Rp640 mereflesikan PER12f and PBV12f respectively by 3.6 x and 0.9 x.
Wijaya Karya (WIKA) is a STATE-OWNED company that currently has the largest Market Cap in TRADE. Market Cap of his over WIKA 3 x folding market cap ADHI. WIKA has also become the most liquid stocks in the infrastructure market. Currently traded with WIKA BUY recommendations, with a TP of Rp810 reflect PER12f 5.8 x 0.9 x and PBV12f. Currently, WIKA traded at a premium price with PE 12.5 x, still above the average PE industry amounted to 6.2 x.
Total Bangun Persada (TOTL) target revenue reached Rp1,7 trillion in 2012, up 13,33% compared to the year 2011 for estimation of Rp1,5 trillion. While the company is targeting net profit OSK is estimated to be up 11.7% supported by his entrance into the company's power plant projects. TOTL have TP at Rp390 or 6.6 x and reflect on the PER12f PBV12f 2.2 x.
PP housing development or currently not on the PTPP cover by OSK, nevertheless, consensus on Bloomberg had a fair value for the Rp660 PTPP PTPP. own target revenue this year is Rp8,7 trillion or grow 40% over revenues last year.
Of the banking sector, Bank BJB (BJBR) target the channeling microcredit grow 100% from Rp 3 trillion by 2011 to Rp 6 trillion this year to operate the 400 units of service "Waroeng BJB". This led to an increase in the share price BJBR up about + 7.6% on the trade date 10 Jan. BI said the growth of microcredit banking in Jabar amounted to 23%. This year, BI-backed rising up to 30%. Currently, BJB also penetrated banking market to vigorous outside of West Java, Banten. In addition BJBR also plans to launch the Internet and Mobile Banking by 2012. Based on the performance of the company in 3Q11,
