Klo ada duit pengennya Beli trus..... Tp apa daya masi nyankut smua
Hueh....hueh.......sabar2

Subject: Kim Eng Indonesia Equity Daily, 12 Feb 07

Our Comment

Andrey Wijaya published an update on Semen Gresik. The company’s sales growth 
outpaces national volume growth. It is also improving efficiencies in Tuban 
plant by implementing Total Production Maintenance System. Semen Gresik 
valuation multiples are lower than Indocement’s. BUY, TP is Rp43,500 (21% 
upside potential). 

Yusuf Winoto published a result note on Bank Danamon. The bank posted lower 
bottom line Y/Y due to the absence of non-recurring gain. However, operating 
income improved and loan growth is stronger than expected. Share price has 
declined 17% since our report last month, valuation becomes attractive, hence a 
BUY. Maintain target price of Rp7,000 (27% upside potential).

Berlian Laju Tanker indicated FY06 net profit to double FY05’s on the back of 
40%-45% revenue growth. The indicated result is above our expectation. The 
company will continue growing from expansion, it is targeting US$500m capex in 
2006-2010. Maintain BUY.

Weak sentiment from the region. The rupiah strengthened this morning as a 
result of the government bond issue. 

Katarina Setiawan

Highlights

• 
Semen Gresik (BUY):Firmly in the Lead 

• 
Bank Danamon (BUY): Bottoming Up

• 
Medco Energi (HOLD): Oil discovery on the Libya block update

• 
Berlian Laju (BUY): Indicated FY06 result

• 
Mitra Adiperkasa (BUY): Indicated FY06 sales & FY07 capex

• 
Texmaco: Three investors intend to buy asset of Texmaco Group

• 
Property: Jakarta’s governor to tighten regulation

>From our chartist desk

• 
JCI: Selling pressure is still haunting the JCI, because heavy volume (above 
10-day average volume) was accompanied Friday’s correction. This correction 
could continue today and targets to support level of 1718. Nearest resistance 
is at 1754.

• 
CPRO: A rally occurred on Friday that brought this stock to breakout its major 
channel line. Volume quadrupled the last 10-day average. TRADING BUY with price 
target of Rp202.

• 
ASII: Volume dropped to below its 10-day average when price rallied last 
Friday, indicating a



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