Search result for: "ROE"

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,.

SMGR reported robust FY13 sales while its market share rose to 43.9% in Dec 2013 vs Dec 2012’s 40.9%. However, FY14F earnings growth may be slower than originally estimated due to higher electricity costs. As we foresee a time lag between the increasing input cost and a hike in its selling prices, we cut our.

Executive Summary “Logindo Sukses Makmur (Logindo) is expected to book net profit CAGR of 83% for the three years to 2014, spurred by strong fleet expansion to higher tier vessels. The group has a relatively young fleet age and lucrative margins. Its strong track record with well-known O&G companies is a precursor for greater things.

We are keeping MAIN as our Top Pick in the poultry sector for the following reasons: i) the company’s above-industry growth prospects, ii) strong profitability, and iii) potential improvement in gearing. Maintain BUY and IDR4,000 TP, pegged to a 15.2x FY14 P/E. The counter is currently trading at a 12.1x FY14 P/E. Above-industry growth prospects.

While we are still cautious on Indonesia’s short-term equity market outlook owing to economic and political uncertainties, we are of the view that its long-term fundamentals are intact. We foresee 2014 GDP growth dipping to 5.4% while Bank Indonesia (BI) may have to raise the BI rate to 7.75-8.25%. As short-term macroeconomic fundamentals are weak,.

Despite rising interest rates, ARNA does not expect monthly sales to slow down as most customers pay cash. There is minimal impact from higher financing cost as the bulk of its capex has been paid for while a mid-September selling price hike will offset some cost increases. ARNA is trading at 18.5x FY14F earnings, and.

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.

Company Profile Matahari Putra (MPPA) is one of the leading modern fast-moving consumer good (FMCG) retailers in Indonesia with 82 hypermarkets in operation. It also operates 28 supermarkets and 79 pharmacies. Highlights Solid growth MPPA’s strong distribution network and the compact format of its Hypermarts give it great flexibility in opening hypermarkets in Indonesia’s second-tier.

Company Profile Lippo Cikarang is an independent township with a solid industrial sector as its economic pillar. Its unrivaled infrastructure and diverse facilities should support its strategy targeting sustainable growth. Highlights Robust investment climate LPCK’s industrial land sales expanded by a 70% CAGR from FY08 to FY12, as Indonesia’s huge market potential continued to attract.

PGAS’ long term outlook remains bright despite concerns over its short term gas supply. As Indonesia’s largest gas distributor with an 85% market share, it is well positioned to venture into other gas-related businesses as well as undertake upstream takeovers. We see PGAS as a defensive rotational play given its strong domestic exposure, which partly.