Indonesian stock market is getting excited about entering the second quarter of this year. Thursday, April 1, 2010 and then, Composite Stock Price Index (CSPI) rose 1.9% to 2829.99. This is the index of record highs since the beginning of 2008. In fact, at 14:43 pm, JCI had touched record highs in the history of the Indonesian capital market at the level of 2834.24.
Composite Strengthening contributed to the strengthening of rupiah. Referring to the middle rate of Bank Indonesia (BI), the rupiah strengthened to a level of USD 9075 per dollar, the United States (U.S.). In the spot market, the rupiah touched USD 9078 per U.S. dollar. This is the highest since March 7, 2008.
JCI is in tune with the direction of movement of regional exchanges. The majority of stock market indices in Asia also closed green on Thursday, April 1, 2010. And, JCI became the fastest-moving index in Asia since early this year 2010, reaching 11.67%. As a comparison, at the same time, Japan's Nikkei 225 rose only 6.62%.
Investors anticipate the U.S. economic data, including employment data are released soon, says Alwi Assegaf, analysts Universal Broker Indonesia. Investors have expectations, the U.S. unemployment levels stand at 9.7%.
In addition to regional factors, the positive sentiment also came from the domestic market. Namely, Indonesia's inflation rate more controllable. Central Bureau of Statistics announced that during March 2010, there was deflation of 0.14%. It signals that Bank Indonesia will probably keep its benchmark interest at lower levels.
Besides sentiment inflation data, financial reports throughout 2009 the majority of issuers are also good. This condition is the main attraction of foreign investors chasing stocks fundamental solid. Thursday, April 1, 2010, foreign investors registered net purchases (net of buy) worth Rp 212.57 billion in the stock market.
E-Trading Securities analyst, Isfhan Arsad Helmy, see, now, foreign investors still glanced mining stocks and then banking.1 April 2010, foreigners bought shares of coal USD 159 billion and Rp 145 billion in bank stocks.
Economist Samuel Securities Indonesia, Lana Soelistianingsih, estimates, flood of foreign funds into the Indonesian stock market will still continue. In addition to the stock market, bond market will also become targets of foreign investors . Because, today, the Indonesian bond market returns offer a far more attractive than other countries, including the United States.
Strengthening the prices of various commodities will also stimulate the domestic stock market. On 1 April 2010 and then, the price of crude oil in the U.S. market began to rise towards U.S. $ 84 per barrel.
If foreign funds continued to flow in, JCI could penetrate the sacred number 3000 at the end of 2010. Meanwhile, the amount potentially at USD 9000 per U.S. dollar, predictive Lana. Until late 2010, he calculates, the strongest point of rupiah will be at the level of Rp 8,900 per U.S. dollar.
CSPI and Compact Stronger Rupiah
Composite Stock Price Index (CSPI) re-establish a new record since January 2008. On 1 April 2010 and then, JCI closed at 2829.99 level or increased 1.9% from the previous day. Meanwhile, during this week CSPI rose 0.6%.
At the beginning of the week, JCI had slumped 0.65% to 2794.77. But the next day JCI continues to rise. Helmy Isfhan Arsad, an analyst with E-Trading Securities, saw the strengthening of the index is supported by many of the entry of foreign funds. Many foreign issuers to buy coal and banking stocks, said Isfhan.
One trigger is a sentiment noted that financial reports in 2009 the great majority of issuers. This is a sign that the prospects of stocks in Indonesia are still bright. The investors will still continue to chase our shares on the stock. Isfhan suspect, a week ahead, JCI will still be moving up in the range 2795-2875.
The value of the rupiah was also a positive move. Based on data from the middle rate of Bank Indonesia (BI), in this week, the rupiah has gained 0.66% to a level of Rp 9075 per U.S. dollar. Whereas in the spot market, the rupiah was also reached USD 9078 per U.S. dollar or an increase of 0.46% in this week.
The strengthening of rupiah has happened since early this week. In fact, on March 29 last, had a record amount in USD 9090 per U.S. dollar.
According to Lana Soelistianingsih, economist Samuel Securities, the strengthening of the rupiah against the U.S. dollar caused more by an increase in petroleum prices. In fact, oil prices could touch the level of U.S. $ 84 per barrel. It's so fuel the strengthening of rupiah.
The strengthening of rupiah was also encouraged by the strengthening of Asian currencies. Lana's estimate, the rupiah could move higher in the range of USD 9000-USD 9150 per U.S. dollar.
Publish LPKR U.S. $ 350 Million Debt
Lippo Group is not stopped this maneuver during the year 2010. Now, turn Tbk PT Lippo Karawaci (LPKR) indicates its action plan through the issuance of senior debt securities fixed rate of U.S. $ 350 million.
This property development company will hold a road show to attract the interest of foreign investors, both in Asia and Europe, bought the debt. We will visit nagara where investors are, like Singapore, Hong Kong, and Europe, said Marko Wong, Investor Relations LPKR.
When no hindrance crosswise, road show will be held in April 2010 this month. However, the issuance of those bonds still have to wait for the approval of shareholders.
The plan, LPKR will use the proceeds from bond sales to pay debts amounting to U.S. $ 250 million. While the remaining amount of U.S. $ 100 million was allocated to finance the construction and development of the hospital. In the next three years, we intend to build up to five hospitals, said Wong.
Most of these hospitals will be standing in the Jakarta, Bogor, Depok, Tangerang, and Bekasi (Greater Jakarta). Regarding the exact location, Wong could not express it. Because, still very dependent on construction permits.
To be sure, the range of hospital development cost is U.S. $ 100,000 per bed. If there are 100 beds, will require funding of up to U.S. $ 10 million, said Wong.
According to Wong, the construction of these hospitals will bring added value to LPKR. Consideration, the hospital business is still very promising. However, Wong is still reluctant to open-opener about how big the contribution that health care business for Lippo Karawaci revenue in the future.
Based LPKR dipublikasika prospectus, they will hold a General Meeting of Shareholders Extraordinary (RUPLB) for requesting approval of shareholders later on May 3, 2010. For, these are included in the category of material transactions.
Later, these bonds will be guaranteed of two children uasha LPKR, namely PT Sentra Dwimandiri (HR) and PT Wisma Java Propertindo (WJP). In both the child's efforts, LPKR owns a majority of shares amounting to 99.9%. Guarantee is handled, including assets owned by the two sons of the Lippo business,
Dwimandiri Sentra is a company engaged in the trade industry, construction, mining, agriculture, printing, and services. At the end of 2009, total assets of a company established on September 15, 1993 amounted to Rp 2.5 trillion.
While the Java House is a company engaged in the real estate industry. Total assets of the company was USD 3.23 trillion.
Reza Nugraha, Bhakti Securities analyst, said the company's current property is being aggressively seek funding in order not to miss enjoying the industry growth. According to Reza, a hospital development plan undertaken LPKR is the right step. Condition, the hospital is targeting the middle to upper class. Understandably, during this time many Indonesian people who seek treatment abroad. If that targeted the lower middle class will be very difficult.
Reza certain debt securities issued will be absorbed LPKR market. Condition, LPKR competitive rates offered. If interest rates above 8% I am sure there will be an absorbing, Reza said.
Throughout 2009, LPKR opened the revenue of Rp 2.56 trillion, up 0.47% from 2008 revenue of Rp 2.55 trillion. Net income also grew thin LPKR 4.6% from Rp 370.8 billion to Rp 388 billion. On 1 April 2010 and then, share prices rose 1.67% LPKR to Rp 610 per share.
PGAS 882.72% Profit Increase
Performance of PT Perusahaan Gas Negara Tbk (PGAS) more shiny. Throughout 2009, this state owned gas company managed to get the net profit of Rp 6.23 trillion. This amount increased by 882.72% or nearly 10 times the 2008 net income of only Rp 633.86 billion.
Jump in net profit PGAS not be separated from the achievement of their income during the year 2009. In that period, PGAS print revenue of Rp 18.02 trillion, an increase of 40.89% of revenues in 2008 amounting to Rp 12.79 trillion.
In addition, net income PGAS booster derived from the acquisition of foreign exchange earnings reached USD 1.24 trillion. In 2008, PGAS suffered foreign exchange losses to Rp 2.51 trillion, said Director of PGAS, Hendi Prio Santoso, in his explanation to the Indonesian Stock Exchange.
Mediacom analyst, Chandra Pasaribu, saw the strengthening of the rupiah against the U.S. dollar in 2009 and joined PGAS sustain performance. If the rupiah slumped when it is not possible PGAS be lucky as today, said Chandra.
In 2009, PGAS also able to cut other expenses to them. In fact, they can get other income amounting to Rp 571.15 billion. Conversely, in 2008 other expenses PGAS reached Rp 3.38 trillion.
The PGAS in 2009 operating expenses increased only 7.65% to Rp 3.13 trillion from Rp 2.91 trillion. Ends, earnings per share issuers increased from USD 28 to be Rp 262 per share.
Chandra predict, PGAS performance in 2010 was likely flat. The issue of gas shortage could affect production volume PGAS. PGAS performance will be helped gas prices likely will rise.
Also hindered the performance Moncernya PGAS to trade its shares. On April 1, 2010, PGAS shares rose 0.59% to USD 4275 per share.
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