Wow, Billy hari ini kecipratan HEXA juga, ya? Tuh kan, orang BAIK
kayak Billy, market merah aja masih dikasih rejeki. Apalagi kalo
market ijo, pasti d udah kebeli kapal pesiar.....:-D
2009/12/9, Pitt The Wid <pitt.the....@gmail.com>:
> 2 thumbs up !
>
> On Wed, Dec 9, 2009 at 4:33 PM, billy_budiman92
> <billybudima...@gmail.com>wrote:
>
>> Manteb dah CLSA, kombinasi antara support kuat 2,700 dan report CLSA 4,150
>> langsung bawa terbang HEXA, hahahhahaaa
>>
>> --- In obrolan-bandar@yahoogroups.com, Muhamad Rojak <muhamad.ma...@...>
>> wrote:
>> >
>> > Iya Pak Herman, thanks banget ya atas infonya. Moga2 Pak Herman juga
>> > dapet profit gede hari ini, he.. he..
>> >
>> > 2009/12/9, TimurLaut <i4...@...>:
>> > > 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...@...>
>> > > 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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