Search result for: "cement sales"

Eximbank (idAAA/Stable) will list three new bonds series on Monday (22/02) where likely dominate secondary market activity next week. However, the offering coupon rate for these three new bonds series seem to be fairly valued relative to other Eximbank’s bonds being traded in the secondary market. For series A (370 days), Eximbank offers 8.5% coupon.

Kawasan Industri Jababeka, Tbk (KIJA IJ) and PP Properti, Tbk (PPRO IJ) agreed to build simultaneously market the project apartment Riverview Residences and Commercial Riverwalk Park. It was proved by signing the cooperation agreement conducted by the President Director of Jababeka Liman Budianto, Director Jababeka Suteja Sidarta Darmono, and President Director of PP Properti Taufik.

We initiate coverage on Express Transindo with a NEUTRAL call and DCF derived IDR300 TP. The recent cancellation of the M&A from Saratoga’s group due to uncondusive market condition has resulted into 74% YTD dropped in share price. The company’s now focus to improve their financial performance by reorganise their business, lowering gearing level, and.

We initiate coverage on Express Transindo with a NEUTRAL call and DCF derived IDR350 TP. The recent cancellation of the M&A from Saratoga’s group due to uncondusive market condition has resulted into 74% YTD dropped in share price. The company’s now focus to improve their financial performance by reorganise their business, lowering gearing level, and.

Indomobil Finance (IMFI) has conducted book building for Shelf Registered Bond II Tranche II with the coupon rate for 1y bond at 10.25%, higher 115 bps than its previously issued bonds on last April. Meanwhile, 3y and 4y bonds were priced at 10.75% and 11% respectively. They were both higher 75 bps than the last.

We reinitiate coverage of PT Erajaya Swasembada Tbk (ERAA) with a NEUTRAL and a DCF-derived TP of IDR900 (implying 9.7x FY15F P/E). 2015 may be rough for ERAA due to: i) heavy inventory of Samsung products, ii) proposed regulation requiring 4G smartphones to have 40% local components, and iii) product pricing amidst a weak IDR..

On 19 Sept we took investors on a 1-day visit to four of Spindo’s East Java plants, which made up 81% of its production capacity in 1H14. We got to observe the efficiency at its new Sidoarjo plant relative to its older plants, cementing our confidence in Spindo’s commitment to cost efficiency as the plant.

We initiate coverage on Spindo with a DCF-derived TP of IDR370 which represents a 100% potential return upside and recommend a BUY. Our TP implies a 7.0x FY15F earnings. Main triggers: i) its dominance in the domestic steel pipe market with a 30% share; ii) the company being a beneficiary of the nation’s growing gas.

We initiate Spindo with BUY conviction premised on: 1) Its dominant position in domestic steel pipe market (~30% share); 2) Main beneficiaries to the nation’s rise in gas infrastructure, construction developments and higher local content requirements in the automotive sector; and 3) Super appealing 3.3x FY15F P/E with 13% ROAE and PEG of 0.1x. We.

We initiate Spindo with a BUY conviction premised on: 1) Its dominant position in domestic steel pipe market (~30% share); 2) Strong proxies to the nation’s rise in gas infrastructure, construction developments and higher local content requirements in the automotive sector; and 3) Super appealing 3.3x FY15F P/E, 15% ROAE and PEG of only 0.1x..