Bank CIMB Niaga (BNGA) caught
my attention for the first time in early 2015 when the stock fell from Rp1,400
to 900’s per share, then because the company reported a net income of Rp2.3
trillion in 2014, dropped almost half compared to the previous year, because of
the soaring burden of impairment losses. However, at the price of Rp900 per
share, the PBV was below 1 times, and it was very cheap considering that BNGA is
not a small nor unknown bank, but actually one of the ten largest banks in
Indonesia.
Between Medco, Newmont, and Bumi Resources
On Friday, July 1, 2016, the management of Medco
Energi Internasional (MEDC) announced that the company will acquire PT Amman
Minerals International (AMI), which previously acquired a 82.2% stake in PT Newmont
Nusa Tenggara (NNT) at US $ 2.6 billion or equivalent to Rp34.3 trillion (based
on the exchange rate Rp13,200 per US Dollar), thus MEDC will become an indirect
shareholder in NNT. Soon after that MEDC shares rose 24.7% in a single day onto
Rp1,870 per share, drawing the attention of stock traders, but in this writing I
will invite you to dig deeper about Medco's corporate action, complete with the
investment opportunities that may arise. Okay, here we go!
Jasa Marga & Right Issue: Opportunity!
Jasa Marga (JSMR)
reported a net income of Rp849 billion during first half 2016, grew 28% over
the same period of the previous year, thus JSMR becomes one of few major
companies in the Indonesia Stock Exchange who still had a good financial
performance in 2016 so far. But why does the stock fell instead?
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