Search result for: "price strategy"

We upgrades by 6% our earnings target for 2011 to IDR153bn (+44% y-o-y) on the back of a share of net income from its associate Fast Offshore Supply (Singapore) amounting to IDR24bn (based on the company’s guidance). We like WINS’ efficient spending of its 2011 capex on vessel expansion this year (12 added vessels) as.

Wintermar Offshore Marine, Tbk (WINS IJ) booked an impressive 1Q11 net profit amounted to IDR44bn (+143.2% y-o-y; accounts 31% to our FY11 forecast) driven by fleet expansion and third party chartering. This translates to a net profit margin of 19.7% in 1Q11 from 17.6% in 1Q10. WINS’ vessel expansion remains on track along with its.

Clarifying the cabotage issue Last week the media reported that cabotage regulations would be eased to allow foreign companies to operate certain types of foreign-flagged vessels. At a glance, this seems contrary to earlier perceptions that the opportunity would be limited to Indonesian-owned vessels using the domestic flag. We would like to highlight several points.

Wintermar Offshore Marine (WINS) is set to deliver an earnings CAGR of 32.8% from 2010-2012 powered by higher rates from its owned vessels, which will bolster its 2011 topline to IDR864bn (+34% y-o-y) before escalating to IDR1,052bn (+21.7% y-o-y) in 2012. The company’s owned vessels will contribute 71.9% of total revenue in 2011 against 56%.

Advancing with renewed focus We think that the consistent improvements in Danamon’s fundamentals since 1Q10 have been largely under-appreciated. Recovery in credit growth led by its core mass market operations, rising CASA base and improving asset quality have fuelled an upward ROAE trend, which should underpin valuation. Maintaining composure is key. We maintain our Buy.

EXCL Poised Excel Further. XL Axiata, Tbk (EXCL IJ) remains our top pick for exposure to Indonesian telecoms given.  First, its strong management/operational execution. Second, the still-robust prospects within the telecoms sector on a proliferation of cheap and attractive low-priced handsets amid rising take-up of small screen access. Link Net Simply the best Shelf Registration.

BBRI Superior Many Fronts. We believe BRI’s growth story is a compelling one – the bank has expanded its micro lending reach to over 5,000 units (including its Teras outfits) to penetrate the most under-banked SMEs and consumers across the nation. As well as, this positions it as the primary beneficiary of the rising suburban.

Adaro Leader The Pack. Buy initiation; target price Rp2,900. Our Buy recommendation hinges upon ADRO’s, First, strong exposure to the domestic coal market, Second, proven record for production growth, Third, sizeable coal reserves, and Fourth, financing capability for expansion. As well as, our end-2011 DCF target price is Rp2,900, which implies 16.3x 2012F earnings. Furthermore,.