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Surya Citra Media, Tbk (SCMA IJ) focus on to keep close to the current market share. President Director of Elang Mahkota Teknologi, Tbk (EMTK IJ), Sutanto Hartono, parent’s of SCMA.

Elang Mahkota Teknologi, Tbk (EMTK IJ) plans to transfer a number of its assets to one of the subsidiary, Surya Citra Media, Tbk (SCMA IJ). As of January 31, 2019, the composition EMTK of stock ownership in SCMA up 60.87%. Citing on.

Elang Mahkota Teknologi, Tbk (EMTK:IJ)’s right issue exercise price set at level IDR8,616 per share, or lower than regular market price at IDR9,100 per share. Company will offer as many as 564 million share or equivalent with 10% from its capital and fully paid. It means, with that exercise price, company will raise fund of.

We reinitiate coverage on Surya Citra with a BUY and DCF-derived IDR3,000 TP, implying 29.1x/25.4x FY15F/FY16F P/Es. We believe local consumer firms will face macroeconomic headwinds in the near term, resulting in an ad spend slowdown in FY15. Yet, we do not think advertisers can cut ad spend for too long given Indonesia’s attractive structural.

We initiate coverage on Surya Citra with a BUY and DCF-derived IDR3,400 TP, implying 29.0x/25.0x FY15F/FY16F P/Es. We believe local consumer firms will face macroeconomic headwinds in the near term, resulting in an ad spend slowdown in FY15. Yet, we do not think advertisers can cut ad spend for too long given Indonesia’s attractive structural.