Toba Bara Sejahtra (TOBA) became the first coal company in the Indonesia Stock
Exchange which has released its financial statements for the period of first
quarter of 2014, and its net profit of US$ 7.7 million (profit attributable to equity
holders of the parent entity) cause the stock to be too attractive to be ignored,
because the profit grew doubled over the same period in 2013, and relfects ROE of
27.6%, quite delight for a stock that is currently valued at only PBV 1.3 times.
Identifying ‘Fake’ Account on Financial Statements
If you buy 100,000 shares of a stock at a price of Rp100 per share, worth a
total of Rp10 million, and the next day your shares rose 2% to Rp102 per share,
then what is your gain? Of course 2% multiplied by 10 million, yes? And the
result is Rp200,000. The next question, would you surely get the cash of Rp200,000? No. The
figure can still change at any time, along with the changes in the stock price.
If tomorrow your stock climb higher to 104, for example, then your profit would
be Rp400,000. Conversely, if your stock dropped to 99, then your profits will
instantly disappear and turned into a loss of Rp100,000.
Top Ten Largest IPO in Indonesia
Last mid-May, Facebook is officialy listing on the Nasdaq with ticker ‘FB’.
The Initial Public Offering (IPO) is touted as the largest IPO in history,
because the value was very large, ie US$ 16 billion or more. The expression
'the largest IPO in history' may make you curious, is that so? That the IPO of
FB is the largest IPO of all time? That's why I made a little research, and
here are the results.
Time for Oil Palm Plantation Stocks?
Now we’re at the end of April, and that means all the public companies will
release their financial statements for the period of first quarter of 2014. In
fact, up to this writing, there are at least three companies that has released
the statements. They are Bank Danamon (BDMN), Bank Mutiara (BCIC), and Astra
Agro Lestari (AALI). The interesting one is AALI, which recorded Rp810 billion (about
US$ 80 million) of net profit, or jump more than doubled over the same period in
2013. On the other hand, if we glance at the price of crude palm oil (CPO) on
Malaysia Stock Exchange, the figure has been stable at RM2,600 per ton, after it
was dropped to RM2,200 per ton. Time for oil palm plantation stocks to rebound?
Bakrie: Still Believe?
Bakrie Group is still one of the most controversial conglomerates in the
stock exchange, and it's not because one of the owners, Aburizal Bakrie, run
for the President. But because all of the listed companies of the Group has a
very ugly financial performance. To this day, there were at least eight companies
of the Bakrie Group which has released their financial statements for the period
of Full Year 2013. The following table is a summary of the performance of their
income, figures in millions of US Dollar:
Jokowi, ARB, or Prabowo?
After waiting so long, on April 9th, Indonesian people finally held the
legislative elections, and as usual the results can be known shortly afterwards.
Based on data from the quick count, there are three winning parties of this
election, ie PDI-P, Golkar, and Gerindra. The cadres of the losing
party would say that this is just the result of the quick count, and that we
have to wait for the official count from the Commission of Election (Komisi Pemilihan
Umum/KPU). However, based on the experience of previous elections (including local
elections), the results of quick count will not differ much than the results of
official count, in which the top three above is not likely to change.
Mandala Multifinance - Best Stock in Multifinance Sector
About a year ago, Bank Indonesia (BI) as the monetary authority of
Indonesia announced a rule related to minimum down payment (DP) of 20% for
purchasing of motorcycle, and 30% for car. Prior to that, finance companies were
aggresive in disbursing their loan, in which a buyer was able to buy a
motorcycle at a price of US$ 1,200 after paying US$ 40 only as down payment. BI
saw that this could provoke a bubble, so then they issued the rule of minimum
down payment as mentioned earlier.
Learn from Case of Investment Fraud
In recent days, the local media are busy talking about a case of alleged
investment fraud by PT Golden Traders
Indonesia Syariah (GTIS), with an estimation of customer’s losses of about
Rp600 billion or US$ 60 million, and of course it is still not a small amount
of loss. But this case is the umpteenth time that happened in this country,
with an always-the-same-story: An investment fraud that promises huge profits in a short time. Actually
this case is not directly related to our investment in the stock, of course,
but I think that this is still important to be discussed to provide information
to people who may still lay about the investment itself. Okay here we go!
Greek Debt Crisis, and Its Effect
Greece has another story.
Yesterday the Government in the land of the gods have laid off no less than
15,000 civil servants, in order to save the budget. Beyond that, some media 'sentenced' two European countries,
namely the Netherlands and Italy, as the country that has also been following the Greek to fall into
the crisis. Such bad news? Of course. But miraculously, one of the world's major
stock indices,
the Dow Jones,
instead affected and down, it continues to rise and is one step closer to penetrate its new level at 13,000’s. Then how about the Jakarta Composite Index (JCI)? Same thing. When this
article was written, the JCI was at peak, ie above 4,000. An anomaly?
Semen Gresik and Indocement: Outlook
On November 19, 2012, Semen Gresik (SMGR)
announced a significant
corporate action, namely the acquisition of Thang Long Cement, a Vietnamese
cement company. Shortly thereafter, the stock of SMGR rose because of the news, until almost touched a new high of Rp17,000 per share, before then dropped to its
current position of 15,850. If we talk about the stock, then nothing could be discussed because it's pretty obvious the stock already overvalue, or at least cannot be said to be undervalue. But, let's try to learn the prospect of the company in the future,
especially after the above corporate action.
Krakatau Steel: Development Updates
About a year ago, I wrote an article titled The
Sleeping Giant, where I say that even though until the third quarter of
2012, Krakatau Steel (KRAS) operationally still had a loss, but this company
has a lot of plans of business development that if the development goes well
and successful, then the company will make a huge profit. That is why the title
of the article was 'the sleeping giant', where I saw this KRAS like a sleeping
giant, that ready to get up and 'raging' at any time, as the steel market in
Indonesia has a bright future along with the development of infrastructure and
others.
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