-----Original Message-----
From: KC <kathleen_chu...@yahoo.com>
Date: Mon, 2 Mar 2009 18:26:52
To: <obrolan-bandar@yahoogroups.com>
Subject: [obrolan-bandar] Kim Eng Indonesia Equity Daily, 3 Mar 09
Our
Comment
During
World Islamic Economic Forum in Jakarta
yesterday, investors from the Middle East signed investment commitment of
US$3.5b for
Indonesia . The commitment was written in 4
Memorandum of Agreement, comprises various investment areas such as mineral and
iron ore in Kalimantan, airplane leasing for Garuda, energy infrastructure with
Pertamina, online payment system with Bank Muamalat and PT Pos Indonesia.
Inflation
came in at 0.21%MoM in February.
YTD (2M09) inflation is now 0.14% while YoY is 8.60%. The low inflation spurs
speculation that
Bank Indonesia will cut rates further.
Export
came in at US$7.153b in January (down 36% YoY). Import came in at US$5.170b
(excluding
bonded zone) in January, down 31% YoY.
The data show that global economy slowdown has taken its toll to
Indonesia ’s external trade.
Investor
Daily reported
that Tenaris SA, one of the world,s largest steel pipe producers, acquired
77.45% stake at PT Seamless Pipe Indonesia Jaya from Bakrie &
Brothers, Green Pipe International Ltd and PT Cakrawala Baru for US$73.5m
(US$24.9m to shareholders of SPIJ and US$48.6m to creditors.) Based on the
latest fnancial statement,
Bakrie & Brothers owned 34.56% stake at SPIJ. Bakrie & Brothers Finance
Director
denied to comment.
The
US market tumbled as more
news on the
US government expanding its bailout
on AIG. Regional markets are in the
red this morning,
Katarina
Setiawan
Highlights
•
Bakrie
& Brothers:
Tenaris SA acquired subsidiaries
•
Bank
Central Asia:
Aims to have 5% deposit growth
•
Bank
BNI:
Considers to postpone US$300m bond issue plan
•
Economy:
Inflation in February 2009
•
Economy:
Export and import
•
Bentoel
International:
FY08 results
From
our chartist desk
•
IDX:
Dow Jones closed lower at 6763. We still maintain our target 6200 level,
according to the break of support trend line. IDX direction is in line with
that
of regional markets today, but in the future it has limited downside, based on
stochastic (in oversold condition). Today’s trading range is between
1203-1230-1270 (support) and 1276-1296-1329 (resistance).
•
BBRI:
Daily TD sequential sell set up at 8th day, meanwhile weekly chart is still in
correction at 6th week. EXIT
•
TLKM:
Gap support in candlestick is Rp5950, as strong entry level. BUY ON
WEAKNESS
