Sales commentary: SIMP is the cheapest IPO ever done by the Salim Group, in our observation, which is too hard to ignore. We also understood that the availability of borrow on IFAR is already very tight, if not unavailable. We are a buyer of SIMP. · Analyst Teddy Oetomo views the valuation gap between Indofood Agri (IFAR, N, PT S$1.75) and Salim Ivomas (SIMP, O, PT Rp1,850) to close in the near-term; and recommends investors to take long/short position on SIMP/IFAR to exploit this mispricing. · At present, IFAR trades at 11.8x 2011 PE, a 17% premium to SIMP’s 10.1x 2011 PE. As SIMP is the IFAR’s only asset, with 72% stake, the aforesaid premium is unjustified, in Teddy’s view. · Meanwhile, SIMP current 2011 PE is also at 15% discount to London Sumatra’s (LSIP, N, PT Rp2,900) at 12x – further justifies the attractiveness of SIMP in the holding structure. SIMP owns 60% of LSIP.
The above say it all. ________________________________ From: Agustinus Barli <[email protected]> To: Milis Saham <[email protected]> Sent: Fri, June 10, 2011 10:52:44 AM Subject: Re: [saham] SIMP: Bisa mencapai 1800 SIMP punya utang koq mesti saia yg bayarin,,laen kali aja yah :p Powered by AT&T™ ________________________________ From: Mikail <[email protected]> Sender: [email protected] Date: Fri, 10 Jun 2011 10:45:56 +0700 To: <[email protected]> ReplyTo: [email protected] Subject: Re: [saham] SIMP: Bisa mencapai 1800 Masak cuma 3 orang dari sekian ribu anggota milis??? Kayaknya pada ngga pede nih pegang SIMP... hahaha (Btw, thanks yang udah ngacung :) ) Hayo sapa lagi??? Cung dong... Salam Cuan. 2011/6/10 Alit Suwirya <[email protected]> >saya ikut > > > > > > ________________________________ Dari: Yhoji Gambler <[email protected]> >Kepada: [email protected] >Terkirim: Jum, 10 Juni, 2011 10:23:19 >Judul: Re: [saham] SIMP: Bisa mencapai 1800 > > > >Bareng deh kalo gitu, satu2nya yg msh sisa di porto gua saat ini soalnya >tinggal >INDF, LSIP, SIMP... > >Satu grup semua hahaha > >Don't follow me coz I don't know where I'm going® > >Regard's >Yhoji® > >Sent from my BlackBerry® >powered by Hoki Cuan Analysis ________________________________ >From: Mikail <[email protected]> >Sender: [email protected] >Date: Fri, 10 Jun 2011 09:12:35 +0700 >To: <[email protected]> >ReplyTo: [email protected] >Subject: [saham] SIMP: Bisa mencapai 1800 > > >Cung, ngacung, sapa yang bareng saya? hehe... :) >
