Bakrie & Bank Capital, Part 2

Sometimes ago, management from B7's companies and Benakat Petroleum (BIPI) spoke about the bogus deposits funds in Bank Capital (BACA). The most striking one of course Bakrie Sumatra Plantations (UNSP). UNSP recorded to save more that Rp3.5 trillion of cash funds in form of deposit in BACA, and it was the biggest amount among the other companies (not including BNBR). And what was the management said? That there was ‘unsynchronized of data between UNSP and BACA was just merely an administrative error, because of the gap of financial recording time. Simply, it was just a mistype. Whether it was acceptable excuse? You can judge for yourself.

Bakrie & Bank Capital: The Tip of an Iceberg?

Last Friday, Jakarta Compiste Index (JCI) was closed at the position of 2,992, or 8 point more to reach 3,000. That increase seemed quite odd, so on the next trading day (today), JCI started to weakened, and when this article was written, JCI has fell 0.89% into position of 2,966. Actually, JCI could have been reach 3,000 (in average), yet it didn’t happen. Why?

Understanding the Price to Book Value

If you would like to buy a business place, let’s say a restaurant at the price of Rp1 billion, and you have the money, then what will you do? Of course you will buy it, right? But what if you only have Rp500 million? Then you can look for partners so that the money will be collected amounted to Rp1 billion. Let’s say you got two partners who respectively deposit Rp200 million and Rp300 million. Therefore, the revenue from the restaurant will be divided by three, where you will get 50%, and your partners respectively will get 20% and 30%.

Hary Tanoe vs Mbak Tutut, part 2

Along with the increasingly heated conflict between Hary Tanoe with Mbak Tutut, plus the case of Sisminbakum, some of the Bhakti Group shares started to fall massively. The most attention is of course Media Nusantara Citra (MNCN), and Bhakti Investama (BHIT), because of all the Bhakti Group shares listed on the exchange, only those two shares that have liquid transaction volume. I've ever told you to noted the MNCN, because MNCN has the opportunity to strengthened if at any time this case is over. But strangely, it seems that most people prefer to watch BHIT rather than MNCN.

IPO Prospect of Garuda Indonesia

Currently you are probably concerned with the IPO. After yesterday two companies namely Skybee (SKYB) and Golden Retailindo (GOLD) officially listing on the Stock Exchange (IDX), today two other companies are also scheduled to enter the stock exchange. They are Bank Jabar Banten and Indopoly. All these newcomers are attractive enough to be used as speculation tool, because almost all of the stock will experience a very high price volatility on their first trading day. And that was also experienced by SKYB and GOLD that rose fairly great yesterday. But those companies are relatively small so they are not so attractive for you the blue chip players. Well, one of the companies that will also enter the exchange and potentially become a member of bluchip because the size is great enough, is Garuda Indonesia.

Hary Tanoe vs Mbak Tutut

If you look at the three television stations, RCTI, TPI, and GlobalTV lately, then you will find that almost every day or even every moment, the screen below it shown news in running text form as usual running displayed by Metro TV. Its content is primarily a matter of dispute of TPI ownership between Hary Tanoesoedibjo and Ms Siti Hardiyanti Rukmana alias Mbak Tutut, where the points highlighted is the defense towards Hary Tanoe and discredit against Mbak Tutut.

Understanding the Stock Buyback

Maybe you have read this news on the media: PT Abcd had  a buyback plan on its shares in the market. What is buyback? I’m sure you have already known: Buyback is re-purchase of the issued and outstanding shares in the market, by the company itself. But what does it means? And what’s its influence towards the shares price of the related company?

IPO Prospect of Sido Muncul

The IPO of an PT Sido Muncul seems quite interesting to be noted, not only because the great name of the company, but also because it is very interesting sector of the company, which is herbal pharmacy/drugs or what is usually called as medicinal herbs (‘jamu’ in Indonesian). As we’ve known, pharmacy sector is one of the most profitable sectors in Indonesia, and Sido Muncul is seems to be one of the best players in this sector. On the full year 2012, the company recorded net income of Rp388 billion, which reflected return on asset (ROA) of 18.0%. For comparison, on the same period, Kalbe Farma (KLBF), which can be considered as the best pharmacy company in IDX, also recorded ROA of 18.8%.

Asia Natural Resources

If we take a look at the market lately, I wonder why there’re so many rumor about certain stock that is associated with mining sector. For example, PT Nothing Company will acquire a coal company, and so on. Then, the related stock is said to be pulled by the stock maker in certain position. The most frequently one that has deceived many people is Bhakti Investama (BHIT). However, BHIT is not the only one. One of the stocks that become a lively discussion  lately because it is said to be engaged in the mining business is Asia Natural Resources (ASIA). Hmm…whether the prospect real? Or it’s merely just the work for fun aka speculation?

IPO Prospect of Bank Jabar Banten

As you have known, one of the most popular regional banks, Bank Jabar Banten, will hold Initial Public Offering (IPO) for its 20% of stock, which is as much as 1.8 billion shares with nominal of Rp250 per share. The IPO will be held on the next June 5^th. Bank Jabar Banten will be listing on the exchange, starting from July 8, 2010, with ticker of BJBR (if I’m not mistaken). How’s the prospect? Is it worth to be collected?

Bhakti Investama as a Holding Company

Although I have been regularly discuss about Bhakti Investama (BHIT) in this blog, but the question about the stock still continues to come. One of the biggest questions is about whether BHIT still capable to rise on this June? Because after a long-awaited moment, BHIT remained sedentary although its transaction volume was above 100 million shares per day. Currently, BHIT still stuck in the position of 146.

Bakrie Seven Brothers, Nowadays

During the year 2009, especially after Indonesia stock exchange awakens from the impact of global crisis in 2008, the IDX is mastered by the member of the seven brothers (B7). The trading volume of the seven stocks was so big, that from the total transaction value that happened in one day in the exchange, more than a half involving them. So that finally the movements of this B7 became a reference for investor to buy, hold, or sell. However, in 2010, the group is losing its magical power. What is going on? This article is important to be read if you hold one or two shares of B7 member.

Telkom

Today, Telekomunikasi Indonesia (TLKM) is decreasing by 1.94%, relatively small compared to the declining of other blue chip members, but that is because TLKM has decline a lot before. As the price is now at 7,600, TLKM has gone down rapidly during last one year, precisely about 22.4% from its peak position at 9,800 which was reached on December 11^th, 2009. It is implied that TLKM have gone down quite a lot even before IHSG went down dramatically within the last one week.

Retail Sector: MPPA and HERO

As a retail company owned by Lippo Group, Matahari Putra Prima (MPPA) has a quite good performance. But if we see its share price movement, the speculation is so fantastic that you can take a big profit in a short term if you could buy the stock in the right moment. But how if you do the buy in the less precise moment? Fortunately, MPPA dropped dramatically from its top level by the end of April at 1,340. Now, MPPA stood in position 1,020.

Mayora Indah

Mayora Indah (MYOR) is a company who produces sweet food such as peppermint, candy, and biscuit. Its products are often advertised in television so, the products is quite famous for us. Even though its business scope is narrow, in fact, its asset is big enough. MYOR asset has been noted around Rp3.5 trillion at the first quarter of 2010. Similar with the other food producer companies, MYOR’s net profit and income have been increased from time to time. The income of MYOR at the first quarter of 2010 goes up 27.3% and its net profit goes up 67.0% compared to the same period in 2009.

Best Stock in CPO Sector, 2010

At the previous article, I mentioned that the biggest CPO company today based on its asset is UNSP with Rp12.4 trillion. But if we see from the market cap or the company’s price in the market, UNSP is not the biggest company. The biggest CPO company in IDX at the moment is AALI with market cap Rp34.3 trillion, then LSIP with Rp13.3 trillion, and SMAR with Rp12.5 trillion. Then where is UNSP position?

CPO Sector Performance at First Quarter 2010

Every quarter (three months) when the company published quarterly financial report, one of the most question which is often asked by investor is, 'In the same sector, which company has the best performance?' In this blog, I will present the comparison of some companies’ performance in Indonesia in every three months according to the newest financial report. Let’s start from one of the pledge export sectors of Indonesia: Crude Palm Oil (CPO).

Why Should Afraid of the Foreign?

Last week, precisely on Tuesday, 12 November 2013, Bank Indonesia (BI) once again raise the BI rate to be 7.50%, and that decision causes negative response from the market. On that Tuesday, which was followed by the next day, the Jakarta Composite Index (JCI) dropped up to the level of 4,200, where the greatest pressure faced by banking and property’s sectors, which was expected to be affected directly by the increase of the rate. When this article was written, JCI started to rise into position of 4,366, yet still has not reach its previous position before the fall.

Adaro Energy

Adaro Energy (ADRO) had attracted us when it noted an increase of net profit about 393.2% at Full Year 2009. Its share also went up to 2,100 - 2,200 even though previously it was corrected till level 1,790. However, it seems that now is the right moment for you, who hold ADRO, to go out. Why?

Bakrie & Brothers's Debts

After the commotion caused by Mr. Hary with its BHIT, this time Bakrie re-emerge after Telkom stated that they would merge Flexi with BTEL’s Esia. Many people suspect that this merge will only bring benefit to BTEL, and inflict a financial loss to TLKM. The reason? It is because BTEL is considered to have lot of debts, where the half of those debts sould be borne by TLKM if the merge is actually made. In addition, BTEL’s owner, Bakrie himself indeed has lots of debts. That also causes Bakrie Seven Brothers (B7) to not rise although its transaction volume was lively lately. The question is, how much Bakrie’s debt today?

Stock Recommendations for Long Term Investment

A stock must have at least the two conditions to be able to be collected in in the long term, ie more than one year, namely: good performance, and reasonable stocks’ movement. The definition of good performance is: generating profits that is constantly increase over time. And what is meant by the reasonable stock movement: the pattern continues to rise over time, according to its fundamental, and free from speculation. This article is important for the long term investor.

Bhakti Investama: An Insight

Bhakti Investama (BHIT) is one of the most popular companies today. In the past week alone, BHIT has aissued at least three important information scattered on various media, such as the conversion of bonds, pier construction in Kalimantan, and the finalization of the acquisition of mines in Papua. If the news from its subsidiaries such as Media Citra Nusantara (MNCN), Global Mediacom (BMTR), and others are included, then it would be quite difficult to keep abreast of the BHIT’s latest news. Exactly what company is BHIT? In this article: 1. Business line, 2. Latest performance review, 3. Future prospect.

Lippo Karawaci: Bond Problem

Lippo Karawaci (LKPR) is one of the companies with the most sought-after financial statement because its status as the largest property company in Indonesia. It is also the only property company that listed as bluchip due to its market cap that was above one billion Dollar. The major assets of this group was finally released its financial statement of First Quarter 2010 on last 31 May. Guess what? Its net profit still steady, and slightly up of 4.3%. But then why did since early April, the stock price continue to fall until today (when this article was written), to only 400?

Stock Market Education

Dear friends, thank you so much for participating in this simple blog by asking a lot of questions, either through comments or email. By then, I know what I should write. Sorry if I could not reply your question one by one. Therefore, once in a while, I'll make an article that contains a collection of your questions as well as the answer. Hopefully this way I can accommodate all the input from you. This article is the first one, check it out!

Cement Stocks Comparison

Cement is one of the most attractive sectors, particularly for long-term player, because they have pretty good fundamental. There are only three cement companies that listed on the IDX, and three of them has quite decent performance. They are Semen Gresik (SMGR), Indocement (INTP), and Holcim Indonesia (SMCB). How did their performance on First Quarter 2010? And which company with good stock to collect? Let’s see then.

Price Earnings Ratio and Price Book Value

Price to Earnings Ratio (PER) is one of the most basic measurement of the fundamental analysis. In simple word, PER is a 'comparison between the stock price with net income of the company', in which a company's stock price is compared with the net income generated by the company within a year. Because the focus of the calculation is the net profit that has generated by the company, then by knowing the PER, we can find out if the stock price is considered reasonable or not in real terms and not just in form of a speculation or estimation in the future. Okay, let’s get on with it.

Gading Development

The market may not be friendly with the stocks in the property and construction sector, on the last few months. But what happened to the stock of Gading Development (GAMA) is really a special case. After from June to August it is completely untouched by IHSG correction or correction in the property sector itself, but only in a matter of two weeks, the stock was immediately dropped from 500 to position of 90! Thereby, for those who hold GAMA at the price of 500 and still holding it until now, they have experienced 81.2% of potential loss.

BHIT: The Next BUMI?

Not long ago, it was rumored that stock of Bhakti Investama (BHIT) will be pulled into position of 200, because the company will soon complete its acquisition of the mining company. Well, I can only say: one more unclear news come out from BHIT. Surely, if the shares are pulled by market maker, then BHIT could have returned to the position of 200, but that if it is really pulled.

Moving Average: A Simple Lesson

Because the market seems pretty bad nowadays, it’s better if we take our time to learn a little bit rather than keep an eye on the stock prices. This time I will discuss about moving average, one of the basic techniques in technical analysis to determine whether a stock price has greater opportunity to strengthen, or weaken. Yes, indeed I am a fundamentalist, but of course I also understand technical analysis even just a little bit.

Unilever Indonesia

In IDX, only few companies who can record sales equal to or slightly above its assets’ value. But Unilever Indonesia (UNVR) was able to record its sales value of at least twice of its assets’ value, and that record is consistently stable every year since 2004 without even ever declining! In addition, that outstanding performance continues until today. In First Quarter 2010, UNVR recorded sales of Rp5.0 trillion, which if it is being annualized, it becomes Rp19.9 trillion. Then what is the value of UNVR’s assets? Only Rp8.6 trillion.

Rupiah’s Impairment, and Its Influence towards Property Companies

Judging by its business nature, Rupiah’s exchange rate fluctuation on foreign currency, in this case, US Dollar, has no actual effect towards the performance of property companies/issuers. It is because they earn their income in Rupiah and pay expenses such as contractor fees, and land acquisition in Rupiah as well (there are also some property companies/issuers that import the building materials, but its value is typically small). However, it will be different when the company has dollar-denominated debt, where the value of the accrued interest as well as the principal amount of the debt itself become highly influenced by the fluctuation of Rupiah exchange rate against Dollar.

PGAS, and the Open Access Policy

Perusahaan Gas Negara (PGAS), or you can say National Gas Company, reported that their net profit has increased 4.0% for Nine Months period in 2013, and in general, its performance was very good. However, this fact is not the interesting point that I will disscuss. In the last few days, it was issued in media that Government through BPH Migas (the Oil and Gas Regulatory Agency) would impose an open access policy, where all gas infrastructures which are gas pipes in Indonesia can be used not only by PGAS but also by all parties.