Kamis 24 Mei 2012

15:30   Harga IPO Kobexindo di Rp 380 - Rp 520 per saham


15:07   FRANKFURT (MarketWatch) -- Private-sector activity in Europe's largest economy contracted in May as manufacturing shrank at a faster pace, according to a preliminary purchasing managers index released by Markit on Thursday. German composite PMI fell to a six-month low of 49.6 from 50.5 in April. A reading of less than 50 signals a contraction in activity. The German services PMI was unchanged at 52.2 this month, while manufacturing PMI fell to a 35-month low of 45.0. The preliminary PMI reading for France indicated private-sector output in Europe's second-largest economy fell at its sharpest rate in more than three years, with the composite index dropping to 44.7 from 45.9 last month. The French services PMI was unchanged at 45.2, while manufacturing PMI dropped to 44.4 from 46.9 in April


14:16  Fly with GIAA 750 :D


10:09 BSDE
CLSA maintains BUY call and TP of Rp1,800.

Key points of our report today:
∙        Sarina raises BSDE’s earnings by 0.3-4.4% in 12CL-14CL. She raises TP to Rp1,800/sh from 1,500 previously. She also raises NAV to Rp2,440/sh from Rp1,990/sh. Maintain BUY
∙        FY12 sales are targeted to rise by 20% YoY to Rp4.2tn, on the back of price appreciation (1Q sales at only 20% of FY due to minimal launches).
∙        BSDE’s ASP in Serpong rose 12.5% ytd to Rp4.5m psm, after rising 25% in 2011. It will take 17 years for BSDE Serpong’s price to catch up to city center.
∙        20% of revenue is recurring, and BSDE aims to increase this by developing commercial projects under DUTI.
∙        BSDE is most leveraged to ASP growth vs peers given ample land bank (4,600 ha) + greater focus on  landed residential development. 
∙        VALUATION:  BSDE now trades at a very attractive 49% discount to our new NAV, vs sector ave. at 37%.  ROA and ROE are among the highest and have recovered swiftly post 2010 rights issue and to expand further.
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Thursday (24/05) Early BIRD Fundamental Prespective (Edwin Sebayang-MNC Securities)

ES mengibaratkan kondisi Bursa saat ini spt sdg mengikuti permainan "Battlestar Galatica roller coasters-Singapore Universal Studio", sangat mendebarkan yg memicu adrenalin tapi sangat mengasyikkan pd akhirnya, spt itulah kondisi yg tjd semalam atas Dow yg akhirnya ditutup flat -0.05% menyusul munculnya bbrp berita positif dr hasil pertemuan pimpinan Zona Euro dmn kondisi ini berpotensi memberi dampak positif atas Bounce-Back nya IHSG dlm perdagangan Rabu ini setelah sebelumnya Selasa melemah akibat masalah psikologis FAKTOR EKSTERNAL, yg seharusnya dpt digunakan sbg opportunity melakukan BUY setiap kali IHSG turun akibat masalah Eropa krn masalah Eropa sendiri adlh MASALAH BASI yg akan terus berulang.

Walaupun sepanjang perdagangan Dow Jones sempat turun lebih dari -170 poin akibat kekhawatiran mengenai apa hasil pertemuan pimpinan Zona Euro mengenai bgm penyelesaian Yunani, Dow diakhir sesi perdagangan dpt recover merangkak naik menyusul bbrp laporan positif atas Zona Euro diantaranya menyebutkan PM Italy Mario Monty & Presiden Prancis Francois Hollande menyetujui mempertimbangkan segala cara utk mendorong pertumbuhan ekonomi Eropa, termasuk menerbitkan Eurobond, shg Dow ditutup hanya turun tipis -6.66 poin, diikuti turunnya The CBOE Volatility Index mendekati level 22 serta ada tambahan sentimen positif dari naiknya Penjualan Rumah Baru AS bln April sebesar 3.3% mjd berjumlah pertahun sebesar 343,000 unit (ekspektasi ekonom sebesar 335,000 unit).

DOW 12496.15 -0.05%
NAS 2850.12 +0.39%
S&P 1318.86 +0.17%
OIL 90.38 -1.6%
GOLD 1560 -1.05%
NICKEL 16755. -0.86%
TIN.19525. -0.91%
CPO.3015. -3.05% 
TLK.33.42 (Rp.7730)
IIT.23.57 (Rp.4360)
IDR 9250

Thursday IDX Range: 3954 - 4005

BUY: PGAS, SMGR, INTP, TOTL, INDF, ITMG, BBNI, UNVR, MYOR, BBRI, SMCB, BBCA, BSDE, ASII, JSMR

ES-MNC Securities/Disc On)