Search result for: "DOC"

We initiate coverage on Siloam with a NEUTRAL and a DCF-derived IDR13,000 TP (10% upside), implying 22x/17x FY16F/17F EV/EBITDA. Siloam is the largest private hospital operator by bed capacity and, with Lippo Karawaci’s support and a planned non pre-emptive rights issue, it can easily further outgrow its IDX-listed peers. However, there is a potential delay.

We initiate coverage on Mitra Keluarga (MIKA) with a DCF-derived TP of IDR3,150, implying a 67x/60x FY16/17F P/E and a 14% upside return; thus we assign it a BUY recommendation. MIKA is the best-in-class among community hospitals with the highest margins and strongest operating cash flow generation among Indonesian listed hospitals. We believe in its.

We initiate coverage on Indonesia’s hospital sector with an Overweight Despite Indonesia’s growing healthcare spending, its hospital sector is still largely underserved compared to its ASEAN peers. With the increasing middle income class and the push of the Indonesian Government for a universal healthcare coverage, the structural growth opportunity for Indonesia’s hospital sector is tremendous.

We initiate coverage on Sarana Meditama Metropolitan with a DCF-derived IDR3,300 TP (31% upside) which implies 56x/53x FY16F/17F P/Es and recommend BUY. It is a prominent hospital operator in Greater Jakarta with its two award-winning OMNI Hospitals in Pulomas and Alam Sutera and an expansion strategy in place for two greenfield 250-bed hospitals. It focuses.

3Q14 results highlights 3Q14 revenue declined 8.4% q-o-q on lower utilization on low-tier vessels and no new vessel expansion coming in in 3Q14. 3Q14 cost of revenue spiked 11.5% q-o-q mainly on crew & maintenance/docking costs dragging 3Q14 gross margin to 42.3% vs 52.6% in 2Q14. Given higher economies of scale from fleet expansion, 3Q14.

PT Indocement Tunggal Prakarsa (INTP IJ, BUY, TP: IDR29,000) will finish developing new cement mill P14 in Citeureup, West Java by 2015. The new plant will have 4.4mn tons/annum of capacity and worth IDR5.5trn. Out of the IDR4-5trn of capex allocation, IDR880bn have been spent to develop the new mill. On the other hand, INTP.

Malindo Feedmill (MAIN, BUY, TP: Rp3,800) will issue 69 million new shares (5.7%) through private placement on 21 April 2014. The new shares will be issued at Rp3,500/share with Ginger Company Limited and Peak Team Company Limited as the buyers. MAIN will use the fund to support this year’s capex of Rp500 billion which will.

Logindo (LEAD) is to book an 83% net profit CAGR for the three years to 2014, spurred by its strong fleet expansion to higher-tier vessels. Its relatively young fleet age, lucrative margins and strong industry track record are precursors of greater things. We initiate coverage with a BUY and IDR3,450 TP, implying an 8.5x 2014.

LEAD to book net profit CAGR of 83% for the three years to 2014, spurred by strong fleet expansion to higher-tier vessels. LEAD has relatively young fleet age & lucrative margins. Its strong track record with well-known O&G companies is a precursor for greater things to come. We have a BUY call with TP IDR3,450,.

LEAD to book net profit CAGR of 83% for the three years to 2014, spurred by strong fleet expansion to higher-tier vessels. LEAD has relatively young fleet age & lucrative margins. Its strong track record with well-known O&G companies is a precursor for greater things to come. We have a BUY call with TP IDR3,450,.