Iya Pak Herman, thanks banget ya atas infonya. Moga2 Pak Herman juga
dapet profit gede hari ini, he.. he..
2009/12/9, TimurLaut <i4...@yahoo.com>:
> Pak Herman ini Jenderal juga ya? kaya Jenderal Arto.Banyak ammo nya.....
>
> Jam 11.16.24 tadi HEXA masih 2775.
>
> Punten, apa lagi ya pak? BMTR boleh nggak Pak?
>
>
>
>
> ________________________________
> From: M Herman <hermanlat...@yahoo.com>
> To: obrolan-bandar@yahoogroups.com
> Sent: Wed, December 9, 2009 11:16:24 AM
> Subject: [ob] Daily CL...HEXA new coverage TP 4150
>
>
>
>
> Good morning. There has been talk about big rallies in Jakartatoday as 11
> public demonstrations are scheduled to mark the International
> Anti-Corruption Day.
>
> Interestingly, despite earlier remarks that today’s rallies against
> corruption could potentially be hijacked by rogue elements, President SBY
> welcomes the rally. The President further urged the public to celebrate
> today’s International Anti-Corruption Day peacefully. Perhaps coincidental,
> the President cancelled a planned visit to Makassar in South Sulawesito open
> the 52nd Nusantara Day today.
>
> Perhaps more interesting is that President SBY confirmed yesterday that he
> will allow the Anti Corruption Commission (KPK) to continue wiretapping
> extraordinary crimes as part of his mission to combat corruption. President
> SBY also said that he disagreed with any efforts to strip the KPK of its
> power to prosecute which have come up in the deliberation of the pending
> corruption court bill.
>
> The attitudes toward corruption in Indonesiaare changing. KPK has very
> strong public support. The press in Indonesiais one of the freest in Asia.
> Change begins at the margin. Indonesiahas come very far, but anticorruption
> efforts must continue.
>
> The estimate on the number of marchers is varied from 40-100k. Some even
> mentioned 300k (highly unlikely, I think). But one thing is sure to happen
> today. We can expect Central and South Jakartato be mired in gridlock.
> Jakartans have been told to leave home earlier. Rally schedules and plans
> are widely distributed. No less than 13k officers would be deployed to make
> sure that the rallies remain peaceful. Jakartadoes not need extra problems
> to compound to its massive traffic problems. Average vehicle speed on roads
> is already so slow at 20km/hour. Can’t get any slower…
>
> Research Today: Hexindo, Excavating returns - Initiate with a BUY - Tp4,150
> This is one of my high conviction pick in the small cap space (mkt cap
> US$245). They are second biggest heavy equipment (Hitachi)distributo r in
> Indonesia trading on on 6.3x 2010CL while churning over 40% ROE with a sweet
> 5% divy yield. This compare to 13x 2010CL, 25% ROE for United
> Tractors. Their revenue and operating profit has been growing at 33% and
> 52% CAGR over the past five years
>
> Hexa with a more focused business model with considerably higher earnings
> growth arguably should not be trading at a discount to UT in this part of
> cycle (a Sellers market here). Hexa is the dominate player in the super
> sized excavators with 100%, not typo here, market share in the over 250 ton
> class (Komatsu does not even have a product of this size). Coal miners
> continue to upgrade (even Pama buy them) to these super sized excavators for
> operating efficiency as their scale up their production. Bluesky for this
> stock will be from infrastructure spending accounting for less than 20% of
> sales compare to over 80% in this segment pre 1997. BUY!
>
> Key takeaways:
>
> * Demand for heavy equipment is set to accelerate over the coming years
> as
> demand for power, particularly coal-fired, is booming. Chinaand Indiathermal
> coal demand may expand by 700m tonnes in just five years, equal to current
> global seaborne thermal-coal market
> * The company sells 23% of its unit to mining sector, mostly coal
> companies
> and contractors, while revenue from mining unit contributing to 67% of
> total.
> * Note that the company sold 54 large and giant equipments in Jan-Aug
> vs.
> 28 units in 2008 and has further secured almost US$190m worth of contracts
> to deliver another 64 units of equipments in 2010 order book period
> * The company has successfully de-leveraged its balance sheet after
> seeing
> its net gearing peaked at 144% as of Dec06, with net gearing as of Sep09
> stood at 33%. With its strong cash flow generation, we expect Hexindo to be
> in a net cash position in 2011.
> * Stock trades at 6.3x 2010 PER and 4.3x 2010 EV/Ebitda, still below its
> five years average historical valuations. Meanwhile, balance sheet and
> return are better than they were over the past five years
> DELTA DUNIA (DOID IJ) Conference call details
> Conference Call with Delta Dunia Makmur management team
>
> Date: Thursday,10 December 2009
> Speakers: Patrick Walujo (Vice President Director), Thomas Husted
> (CFO), Budikwanto Kuesar (Managing director BUMA)
> Time: 8am - London
> 4pm – Singapore/Hong Kong/Kuala Lumpur/Manila/ Shanghai/ Taipei
> 3pm – Jakarta/Bangkok
>
> Delta Dunia management team would discuss the latest progress post
> acquisition of Bukit Makmur (Buma), Indonesia’s second-largest coal-mining
> contractor. With a proven track record, long-term relationships with
> customers and low cost base, Buma, in our view, could benefit from the
> growing demand for thermal coal from both domestic and regional markets.
> Please see attachment for calling details.
>
>
>
>
>
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