Quote:
Bukit Asam Shares Rise 16% on Plan to Buy Indonesian Coal Mines
2007-06-06 02:19 (New York)
By Leony Aurora and Naila Firdausi
June 6 (Bloomberg) -- Shares of PT Tambang Batubara Bukit
Asam rose to a record after the state-controlled Indonesian coal
producer said it's in talks to buy coal mines on Borneo island.
Bukit Asam rose 900 rupiah, or 16 percent, to 6,450 rupiah
on the Jakarta Stock Exchange today. The gain is the biggest in
more than three years. The company is ``seriously'' considering
buying four mines that aren't in production yet, Heri Supriyanto,
business development director, said yesterday.
New coal mines in Kalimantan, as the Indonesian part of
Borneo is called, will help Bukit Asam increase production to
benefit from higher prices as output growth at its concession in
South Sumatra province has stalled for lack of railway transport
capacity. The Jakarta-based company's coal output rose 1 percent
to 9.24 million tons last year, compared with a 26 percent gain
for the country as whole.
``It's good news,'' said Kennyarso Soejatman, who helps
manage about $150 million at PT First State Investments Indonesia
in Jakarta. ``People are pricing in the acquisition news and it's
cheaper than its peers.''
Bukit Asam shares traded at 6.5 times book value while those
of PT Bumi Resources, Indonesia's biggest producer and exporter
of thermal coal, traded at 12 times. On average 55 coal stocks in
the Pacific Rim traded at 9.8 times book value, according to data
compiled by Bloomberg.
Shares of Bukit Asam today rose to the maximum limit
permitted in the exchange, prompting the trading system to reject
bids or offers above 6,450 rupiah.
Maximum Limit
For shares that open above 5,000 rupiah apiece, the maximum
movement allowed before bids and offers are automatically
rejected is 20 percent from the opening level, according to
Jakarta Stock Exchange rules. Bukit Asam, whose shares may rise
or fall in 50 rupiah increments, opened at 5,400 rupiah.
Bukit Asam's shares have gained 83 percent this year
compared with a 17 percent advance in the benchmark Jakarta
Composite Index. The company is Indonesia's sixth-biggest coal
producer.
The price of coal at Newcastle, Australia, the world's
largest export terminal for the fuel, rose to $57 a ton, the
highest in more than two years, for the week ended June 1,
according to the globalCoal NEWC Index.
Iseng-Iseng coba kita hitung mbak kalo yang pengelola dana $150 million
menganggap PTBA masih murah.
PTBA PBV 6.5x , BUMI 12x , PBV average 55 coal stocks 9.8x ??? Kira-kira
berapa harga wajarnya PTBA.??
Hanya yang punya hajatan yang tau.
Pada tanggal 08/06/07, dyah narindrasari <[EMAIL PROTECTED]> menulis:
menurut beberapa research sih, long term targetnya (12 months) bisa di
9000, ada juga yg bilang bisa ke 8000 karena fundamentalnya bagus.
cuma kalo diliat2, PTBA lagi in demand bgt di kalangan investor, jadi
kemungkinan target 9000 mungkin aja bisa dicapai dalam waktu beberapa minggu
(hopefully) hehehe
dan juga (yg ini sih menurut saya aja), dia tuh perusahaan tambang punya
bumn yang harganya masih murah (dibandingkan temen-temennya yg lain such as
ANTM, TINS dan INCO). yah kali2 aja bisa nyusul temen2nya yg lain hehe
yah ini cuma pendapat dari amatiran aja mas :)
mungkin suhu2 dan temen2 lain bisa bantu lebih detail?
cheers
~dee~
**
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