Samuel Sekuritas Indonesia

Samuel Aset Manajemen

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DAILY RESEARCH
As of 12 Mar 10		 WEEKLY RESEARCH
   
Daily Economic Report
Daily Research Report
Technical Analysis
Daily Investment Guide		 Weekly Economic Report
Samuel Trading Idea
Summary Valuation Report

Surging Operating Expenses
10 Mar 10

TB Bukit Asam (PTBA)- Maintain BUY
Price: Rp16,000 – Target Price: Rp20,200
Surging Operating Expenses
• Lower than expected FY09 earnings.
• Higher selling price amid lower sales volume.
• Cost efficiency going forward.
• Net cash & anticipation for dividend.
• Maintain BUY, TP Rp20,200/share
 
PTBA_100310_cs.pdf

JSMR - Light at the end of the Tunnel
Sonny John
09 Mar 10

Jasa Marga (JSMR) – Upgrade to BUY
Price: Rp1,750 – Target Price: Rp2,200
 
Light at the end of the Tunnel

  • Land acquisition law is on progress………
  • ……… could speed up land acquisition process
  • Government will take the responsibility for land acquisition
  • In favor of new regulation
  • No surprise in FY09 result
  • Two new toll roads will start to operate in 2010
  • TP Rp2,200, upside potential 25%, upgrade to BUY
JSMR_100305_SJ.pdf

Back to normal growth
04 Mar 10

Bank Danamon (BDMN) – Not rated
Price: Rp5,150 – Not rated
Back to normal growth
• Economy recovery, performance back to normal growth
• Loan growth support by strong capital
• Mass market confidence to be grow; increase the number of employees to expansion in mass market
• Maintain high net interest margin, support by mass market and improving in CASA
• Valuation, PBV premium to sector, Not rated
BDMN_100304_JP.pdf

JSX Market Summary

12 March 2010 - 16:00 WIB (GMT +7)
IHSG 2,666.46 -0.14%
Most
Active
Top
Value
Top
Gainer
Top
Loser
-StockHarga%Prb
ELTY2705.88
ELTY-W3840.74
BUMI25252.02
COWL2601.96
UNSP5403.85

World Market Index

IndicesCurrent%Chg
Dow Jones10583.05 0.176
S & P 5001146.81 0.555
NASDAQ2359.87 0.813
Nikkei 22510563.92 -0.035
Hang Seng21208.289 0.003
Strait Times2862.29 0.795
Xetra DAX5936.72 0.856
CAC 403943.55 0.851
SP/ASX2004820.000 0.000
Shanghai3048.927 -0.663
As of 03:17 WIB (GMT +7)

World Currencies

CurrencyRPUSD
USD9164 1.000
EUR12509 1.3651
JPY101 0.011
GBP13718 1.4971
SGD6555 0.7154
AUD8384 0.9149
MYR2746 0.2997
HKD1181 0.1289
SAR2444 0.2667
NZD6443 0.7031
CNY1342 0.1464
As of 03:17 WIB (GMT +7)