You can contact the author (Teguh Hidayat) by email, teguh.idx@gmail.com. The author live in Jakarta, Indonesia.

See my pictures in Instagram, @teguhidx.

Indika Energy

Just a few days past in May, but the game difficulty has already switched from ‘easy’ to ‘hard’. Yup, currently there are many stocks, especially in the second liner group, which dropped significantly despite the Jakarta Composite Index (JCI) are not moving anywhere. But some stocks, let’s say Indika Energy (INDY), it goes up, and in this case the hike can be explained fundamentally, and that’s why we will discuss INDY here. Okay, here we go.

Cash Flow Analysis in (Simplified) Value Investing

If you used to read company’s financial statement, you will know that the Indonesian standard format of financial statement comes as: 1. Statement of Financial Position (Asset, Liabilities, and Equities). 2. Statement of Profit and Loss (Revenue, till Net Income). 3. Statement of Changes in Equities and lastly. 4. Statement of Cash flows. Normally, if writer do a quick financial statement analysis, we only look at asset changes to company’s net income, and seldom look to Statement of Cash Flows, then the question comes. What is the difference between Statement of Cash Flows and Statement of Profit and Loss? What if the company made profits in Statement of Profit and Loss, but the cash received (stated in the Statement of Cash flows) is smaller? Then, What if the company stated negative cash flows? And so on.

Ristia Bintang Mahkotasejati

Ristia Bintang Mahkotasejati (RBMS) is one of many property developers specializing in residential building that listed on IDX, whose shares in recent years are dormant after the company posted disappointing performances, in line with the sluggishness of property industry itself. But in last 2017, RBMS acquired two subsidiaries that operates in hotel industry and modest housing development, and in 2018 the result begins to show up where RBMS at Quarter 1 posted revenues of Rp24.5 billion, soaring over the same period in 2017 which is only Rp551 million, and so is the share begin to appreciate, but on the other hand, the valuation, at a glance, is still very cheap with PBV only 0.3 times. Future prospects?

Alam Sutera Realty

One of the most memorable experiences of my early years in the Indonesian stock market was when I watched how property stocks, which previously devastated by the global crisis in 2008, gained so much in the next few years, and the rise is in line with the excellent financial performance of property developers at the time, where they had great return on equity on the level 20 – 30%, thanks to the high rate of economic growth in Indonesia (had reached 6.9% in 2011) that boosted the prices of property as many capital owners invest their funds in the property. At those years, a property developer could purchase land at a bargain price, develop it into an elite residential area, and later sell it at exorbitant prices. The areas on the outskirts of Jakarta such as Serpong, Cikarang, Cibubur, developed rapidly during this period.

Tips for Investors: Have a Mentor!

Some time ago I received the question as follows, 'Mr. Teguh, if I read from your writings, it seems that you take Warren Buffett as your only role model. Why Sir? Is it because he is the richest compared to any other investors? While in fact, there are many other investors who, although not as rich as WB, but they had better investment returns, such as Joel Greenblatt, Carl Icahn, Peter Lynch, and so on.’

Repo Cases in Indonesian Stocks

According to Investopedia, the repurchase agreement, or repo, is an agreement between two parties in which the first party borrows some funds from the second party with certain securities as collaterals, such as stocks, bonds, or government securities, with the promise that the first party would buy back the collaterals (thus the second party will get their money back). Usually the value of the loan is lower than the value of the collateral, for example A borrows Rp100,000,000 from B with 100,000 shares of X as collateral, at a price of Rp1,000 per share (so the loan value is Rp100 million), while the stock price of X in the market was higher at Rp1,500. In theory, if A later can not repay the debt, then B could just sell the shares of X that he holds in the market, so he will still make 50% profit.

Bumi Resources: Settlement for Debt Maturity Extension

This morning, Bumi Resources (BUMI) released an announcement on the IDX website (www.idx.co.id) entitled ‘Debt Exchange’. A friend who read the announcement was shocked: What debt? When BUMI did its right issue, last month, doesn’t it mean that all of their debt problems were settled??

The Visit of Saudi Arabian King, Aramco IPO, Oil Prices, and.. Coal?

As we know, King Salman of Saudi Arabia is currently visiting Indonesia for nine days (March 1 – 9, 2017). And if we look at the fact that it was the first visit of Saudi Arabian King in Indonesia in the last 47 years, then it must be a special visit, and even the King will stay here for no less than nine days straight. The question, what’s so special about the visit?