Astra Graphia (ASGR.IJ, BUY) – New foray to spur growth Astra Graphia booked 1H11 net profit of Rp53b and revenue of Rp648b, representing growth of 21% y/y and 13% y/y, respectively. Through its subsidiary, AGIT, the company recently signed an agreement with Monitise Asia Pacific Ltd to set up a joint venture to support mobile commerce solutions (eg, mobile money banking and payment) in Indonesia. The JV, named AGIT Monitise Indonesia, will have an initial capital outlay of US$2m and AGIT will hold a 51% stake. We maintain our revenue growth target of 15% CAGR over the next two years vis-à-vis management’s expectation of 25% CAGR. We also roll forward our base valuation to 2012 and our TP thus increases from Rp1,540 to Rp1,700 (based on 12.3x FY12F PER). Reiterate BUY.
(((•̃͡-̮•̃͡))) ------------------------------------ Kunjungi situs http://www.info-saham.com untuk informasi seputar saham. SEMUA POSTING DI MILIS INI TANGGUNG JAWAB PENGIRIM EMAIL DAN BUKAN ADMIN MILIS. SEMUA POSTING DI MILIS INI BUKAN UNTUK MENGAJAK MEMBELI ATAU MENJUAL EFEK. SETIAP KEPUTUSAN INVESTASI MENJADI TANGGUNG JAWAB PIHAK PEMILIK INVESTASI ATAU PEMILIK MODAL. [email protected] untuk berhenti dari milis saham [email protected] untuk bergabung ke milis saham Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/saham/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/saham/join (Yahoo! ID required) <*> To change settings via email: [email protected] [email protected] <*> To unsubscribe from this group, send an email to: [email protected] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
