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RIMO in MSCI Global Small Cap Indexes. The world’s stock and bond index provider, Morgan Stanley Capital International (MSCI), has again transformed the composition of the MSCI.

Jiwasraya Insurance Financial Crisis. Finally, Jiwasraya Insurance Management provides information regarding the current condition and the rescue scenario of the SOE insurance.

Waskita Karya Press Debt Ratio. Waskita Karya (Persero) Tbk (WSKT) intends to lower the debt ratio this year. Currently, WSKT’s gearing ratio reaches 2.7 times, far away from the target, at 2 times – 2.2 times by the end of the.

Property industry last year was down. This is reflected in the net profit of Bumi Serpong Damai, Tbk (BSDE IJ) in the past year are down from IDR4.92Trn in 2017 to IDR1.29Trn in 2018. While, income BSDE is also down, from IDR10.35Trn years 2017 to.

Indonesia Kendaraan Terminal, Tbk (IPCC:IJ) target the income until the end of the year 2018 can grow up to 38% over the previous year. The subsidiary of PT Harbor Indonesia (Pelindo) II, will still focus on terminal services.

Pressure on lease rates… XL Axiata’s (XL) (EXCL IJ, BUY, TP: IDR4,550)and Sarana Menara Nusantara’s (SMN) (TOWR IJ, BUY, TP: IDR4,700)Protelindo subsidiary’srecent sale and leaseback deal for 2,500 towers suggests that industry lease rentals remain under pressure. We think XL’s IDR10m per month/site rental has become the new industry benchmark for future lease rental negotiations.

We reinitiate coverage on the Indonesia Towerco sector with a NEUTRAL call premised on: i) the structural and operational headwinds impacting the sector in the longer term, ii) the still relatively attractive/superior EBITDA margin of the ITCs, iii) potential for opportunistic M&As, iv) and the valuation discount that the ITCs trade at when stacked against.

We maintain our BUY call on Surya Citra, with a higher IDR3,700 TP (from IDR3,300, 22% upside). We expect the industry to recover as a result of better FY16 consumption. In such an event, the company may have an advantage due to its strong audience share, which could lead to better rates. We also anticipate.

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.

Express Transindo (TAXI IJ) is Indonesia’s second largest taxi operator that offers: i) a high predictability of future cash flow due to daily fixed payments, ii) robust volume-driven growth, and iii) minimum exposure to operating expenses such as fuel and maintenance. We initiate coverage with a BUY and DCF-based TP of IDR2,100, providing a potential.