FYI.... Domba Mas dulu info dari temen2 (kantornya kalau tidak salah di harmoni), lap tidak lebih bagus dari perusahaan CPO yang ada. Gw aja bingung UNSP mau ambil Domba Mas, mungkin harga miring mau jatuh kalee... CMIIW
-----Original Message----- From: obrolan-bandar@yahoogroups.com [mailto:obrolan-ban...@yahoogroups.com] On Behalf Of Bagus Putra Perdana Sent: Sunday, 21 February, 2010 5:27 PM To: obrolan-bandar@yahoogroups.com Subject: Re: [ob] Price to Book value saham Bakrie per 4 jan 2010 nowaday a company is worth its cash generating abilities. rarely does it worth its 'balance sheet' unless on a few stripped-off case. Or in some 'overhang' situation its on the 'overhang working-out' condition. One does not simply buy a company and cashing its accounting book value at an exact market price. It could worth more, it could worth less. Its ultimately depends on the quality of the assets. Its cash and liquid assets on hand versus liabilities that need to be settled. It worth its cash generating abilities going forward. amount of new capital-injection needed to keep the business running is a huge factor too. its niche and franchise value.(Those VRIO stuffs.) might justify a premium intangibles valuation. There were three basic questions to resolve : First, what are the true economics of the business? Second, how do the economic compare to the reported earnings? Third, how are the interests of the decision makers aligned with the investors? Problems with UNSP is they were cash-burning and drownin in debt. Huge dillution with a big bet on an unproductive asset. Given the battered price, It may be worth the bet. The domba mas takeover might proves to be a good decision. But everything should be decided by a detail and prudent further assesment. It cant be done only by looking at current BV level. Unfortunetaly, Domba Mas data is unavailable to most of us. I personally prefer to wait 6-10 months from now to get a better after dillution data and facts about domba mas. Things might turn interesting for bakrie if after the RI execution UNSP announced they were withdrawing from domba mas deal. By that they will be hittin double, erasing the overhang on bad asset burden aswell as dilluting other shareholders and still with pile of cash on hand. That would be brilliant move but rather unsportive and tricky. On 21/02/2010, jsx_consultant <jsx-consult...@centrin.net.id> wrote: > Price to Book value saham Bakrie per 4 jan 2010 > > > Embah barusan buatkan nilai PBV saham saham Bakrie per 4 Jan 2010 > yaitu sebelum Right Issue DEWA, ENRG dan UNSP > > BUMI = 2,1 > BNBR = 1,2 > ELTY = 0,8 > UNSP = 0,8 , (note PBV AALI sekitar 6) > BTEL = 0,7 > DEWA = 0,6 > ENRG = 0,1 > > Perhitungan ini mohon dicheck kembali, takutnya ada yg salah > > selengkapnya di: > - hhtp://www.investdata.net/QZ93BAK5.TXT > > > > > > -- Each piece, or part, of the whole nature is always an approximation to the complete truth, or the complete truth so far as we know it. In fact, everything we know is only some kind of approximation, because we know that we do not know all the laws as yet. Therefore, things must be learned only to be unlearned again or, more likely, to be corrected.......The test of all knowledge is experiment. Experiment is the sole judge of scientific "truth". - Richard Feynman ------------------------------------ + + + + + + + Mohon saat meREPLY posting, text dari posting lama dihapus kecuali diperlukan agar CONTEXTnya jelas. + + + + + + +Yahoo! Groups Links
