DISCLAIMER

This research report is prepared by PT MINNA PADI INVESTAMA Tbk for information purposes only and are not to be used or considered as an offer or the solicitation of an offer to sell or to buy or subscribe for securities or other financial instruments. The report has been prepared without regard to individual financial circumstance, need or objective of person to receive it. The securities discussed in this report may not be suitable for all investors. The appropriateness of any particular investment or strategy whether opined on or referred to in this report or otherwise will depend on an investor’s individual circumstance and objective and should be independently evaluated and confirmed by such investor, and, if appropriate, with his professional advisers independently before adoption or implementation (either as is or varied).

Senin, 08 September 2014

Morning Dew - 9 September 2014

Uncharted Waters

JCI finally set sail north to the uncharted waters, hitting a new all-time record high at 5,262 on Monday, starting the week on a solid footing. Despite the index settled back below prior peak at 5,251 at 5,246, the break is a good sign that the upside potential remains intact.

USDIDR slipped to 11,722 on Friday compared to Friday’s 11,770.

PT Karisma Aksara Mediatama Tbk. Plans to release as many as 535,821,500 shares to the public or 30% from the total shares issued and fully paid after the IPO. 

At the offering price between Rp175 to Rp240, the company will be able to raise between Rp93.7b to Rp128.6b of fresh funds from the IPO process.
PT KAM currently operates 58 bookstores spread all over Indonesia.

About 63.9% of the proceeds from the IPO will be distributed to four of its subsidiaries, while 21% will be used to pay debts and about 8% for working capital and another 7.1% for capex.

More on KAM

For 2014, PT Karisma Aksara Mediatama aims at revenues growth of 37% to Rp203.8b, bringing the net profit to Rp28b, up sharply from FY2013 net profit which amounted to Rp6.4b.

By the end of 1Q14, revenues were up 26% to Rp47.77b vs. Rp37.89b (1Q13), while the net profit soared to Rp6.6b from Rp1.73b (1Q13).

For its expansion, PT KAM plans to open 6 new stores this year while another 15 stores to be opened next year. 

Technically Speaking...

JCI made it through 5,251 previous all-time high and hit 5,262 intraday before settling back at 5,246. It is encouraging, but we should be aware that recent dissipating momentum requires the index to stay above 5,251 or risk another setback.

As for now, JCI is aiming to secure its ground above 5,251 and subsequently the focus will turn to the next resistance at 5,300, the next psychological hurdle for the index. Near-term supports are seen at 5,150-65 (congestion area) and then 5,135, the former lower consolidation band, 5,039 and 5,000, followed by 4,950, the former EMA-50 resistance now turned as support. 

SMRA has met its entry price on Friday, meaning there are seven open recommendations at the moment. WSKT and ADRO still await their entry prices to be filled.

Day Ahead

Another record high has been reached, and this set the JCI to sail north towards uncharted waters with psychological hurdle first seen at 5,300 beyond 5,262. Lack of domestic catalyst at the moment until Bank Indonesia meets on September 11th (Thursday). Even then, the central bank is expected to deliver nothing new. For now, the JCI maintains its upside potential.

Diposting oleh di 15.15
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