Wednesday, August 15, 2012
Indo Morning Call
- We may see a slight rebound today after yday's afternoon sell off which
caused Indo to underperform the
region on poor vols. Expect vols to continue to be anemic given not much to go on overnight and do note
that today's trade will be settled after the lebaran holidays, ie on Thursday 23 August.
- DOWN PAYMENT: BI looking to a similar down payment regulation on syariah banking, closing down
one of the main loopholes on the July regulation on conventional banking. Property and Auto will be
impacted but more on 2W with syariah financing growing to 60% for 2W financing post the July regulation.
- UNTR: to acquire a 60% stake in 5400kcal, 4800 ha greenfield mine in Central Kalimantan for US$51m
translating to $1.8/t
- JSMR: looking to be majority shareholder in the 14km Cinere-Jagorawi tollroad where it is currently
wrapping up a 18.14% stake acquistion for Rp118bn
- GJTL: will look to finance up to 80% of its Rp5trn planned investment through rights issue and bonds.
- SSIA: allocating $35m for building 5 budget hotels this yr
Source: CLSA Indo morning call -Tue14Aug
region on poor vols. Expect vols to continue to be anemic given not much to go on overnight and do note
that today's trade will be settled after the lebaran holidays, ie on Thursday 23 August.
- DOWN PAYMENT: BI looking to a similar down payment regulation on syariah banking, closing down
one of the main loopholes on the July regulation on conventional banking. Property and Auto will be
impacted but more on 2W with syariah financing growing to 60% for 2W financing post the July regulation.
- UNTR: to acquire a 60% stake in 5400kcal, 4800 ha greenfield mine in Central Kalimantan for US$51m
translating to $1.8/t
- JSMR: looking to be majority shareholder in the 14km Cinere-Jagorawi tollroad where it is currently
wrapping up a 18.14% stake acquistion for Rp118bn
- GJTL: will look to finance up to 80% of its Rp5trn planned investment through rights issue and bonds.
- SSIA: allocating $35m for building 5 budget hotels this yr
Source: CLSA Indo morning call -Tue14Aug