Search result for: "cement sales"

We initiate ISSP with a BUY premised on 1) Its dominant position in domestic steel pipe market (~30% share); 2) A strong proxy to the oil & gas (O&G) pipes demand, construction/infrastructure developments and higher local content requirements in the automotive sector; and 3) Highly appealing 3.3x FY15F P/E, 15% ROAE and PEG of only.

1Q14 earnings reached USD8m (-12.9% q-o-q; +30.5% y-o-y), in line with our expectations (22% of our FY14 estimate). We believe the company should be rated against its regional peers, which benefit from the cabotage or local content ruling. We increase our TP to IDR1,200 with a target PER of 12x (previously 9.4x), premised on the.

RALS’ 4Q13 sales are set to improve as October SSSG rose ~14% m-o-m The company’s plans to add 5-6 stores annually should get a boost from the potential income increment among low-end consumers during next year’s election. The biggest risk to RALS’ 2014 sales is the close timing of the Lebaran and back-to-school sales season..

As a local battery producer with third largest market share, NIPS is one of the beneficiary of low cost green car program, which uphold optimal local content spirit. New contract to supply ~500k unit car battery (~25% of current production) in the next year is already in hand. On top of that, since 2011 NIPS.

Bank Permata’s key strengths are its two main shareholders, Standard Chartered Bank (SCB) and Astra International, Tbk (ASII IJ). Both have a joint ownership of 89.12% in Bank Permata, Tbk (BNLI IJ). SCB is a British multinational bank operating in over 70 countries and has a credit rating of A+ by S&P. Whereas, Astra is.

Company Profile Mitra Pinasthika Mustika (MPMX) was established in 1987 with initial operations in the motorcycle distribution business. It subsequently expanded into related areas such as motorcycle retail sales and consumer parts. In 2011, it expanded its business by acquiring a car rental and financing business. The company is 29%-owned by Saratoga Investama Sedaya (majority.

Company Profile Founded in 1976, Selamat Sempurna (SMSM) is a part of ADR Group and currently one of the largest filter and radiator manufacturers in the region. The Company manufactures filters, radiators, oil coolers, condensers, brake pipes, fuel pipes, fuel tanks, exhaust systems, and press parts for passenger vehicles and heavy equipment. Highlights A dividend.

We initiate coverage on Voksel Electric (VOKS) with a BUY and IDR2,400 TP – a 65% upside to the current price. VOKS is the undisputed leader in the manufacturing of high-medium voltage aluminum and fiber optic cables. As a major supplier to PLN and TLKM, it is the main beneficiary of Government megaprojects in power.

WINS’ laggard movement vs JCI’s rally does not reflect the attractiveness of its: i) double-digit earnings growth forecasted for 2013/14, and ii) 42% and 37% 2013 P/E discounts to regional O&G services and OSV peers respectively. We see imminent re-rating and upside potential on the back of its margin expansion and fleet rejuvenation as well.

UNTR’s FY12 net profit came in at IDR5.78trn (-2% y-o-y), which was 4.5% above estimate and in line with our forecast. Its FY12 consolidated sales totaled IDR55.95trn (+2% y-o-y, +27% q-o-q), 2.1% above our estimate, which we deem in line. We are upgrading UNTR to NEUTRAL based on the following reasons: i) we see upside.