kalau soal trading range sempit setuju pak. Sell di 3525 buy back di 3400 dapat 5 point. Biasanya saya cover 50% di 3400 dan sisanya lihat ke arah mana market kl 3400 break lagi yah cover di 3350 25%, break lagi 3350 maka cover di 3050-3100
On 8/1/07, Halim Mintareja <[EMAIL PROTECTED]> wrote: > > short sih belum pak James.. > > cuman out is a must. > > potensi coan dari short ngak banyak paling 4 point. Disikat sama fee dan > urusan tetek benget 2 point. Bo lui. > > Support di BMRI terlalu berjajar.. begitu pula resistantnya.. alias ini > saham trading range sempit. > > > On 7/31/07, James Arifin <[EMAIL PROTECTED]> wrote: > > > Time to SHORT this stock? Kalau regional mendukung saham ini cenderung > > akan turun lagi. Level 3525 saat ini adalah resist BMRI sebelum break > > high kedua. Bila regional mendukung saham ini cenderung untuk > > meneruskan penurunannya. Decision is yours whether you want to take > > profit or S***T this stock > > > > On 7/31/07, swan silo < [EMAIL PROTECTED]> wrote: > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > bmri > > > Note: forwarded message attached. > > > > > > Send instant messages to your online friends > > http://uk.messenger.yahoo.com > > > > > > > > > > > > > > > Bank Mandiri > > > > > > > > > > > > In line with Expectations > > > > > > > > > > > > · Net income for the 1H more than doubled due to improvements > > in NIM > > > and fee income, combined with lower operating costs. However, a > > quarterly > > > comparison shows that the 2Q results were not as strong as the 1Q > > results. > > > Net interest income declined by 24% q-o-q due to a compression in > > margins > > > which was offset by higher fee income, good costs control and much > > lower > > > provisioning charges (Rp 459 bn in 2Q vs. Rp 1,359 bn in 1Q). > > > > > > > > > > > > · Mandiri recorded loan growth of only 7.9% y-o-y and 1.7%q-o-q, > > > weak compared to other banks' loan growth. In fact, its current loans > > book > > > of Rp 116.3 Tn is still lower than at the end of 2006 of Rp 117.7 Tn > > as > > > loans contracted in 1Q07. We are doubtful whether Mandiri's target of > > new > > > loans of Rp 20 Tn or 18% y-o-y growth is achievable. In our forecasts > > we > > > assume loans growth of 12.5% or Rp 14.7 Tn. > > > > > > > > > > > > · Mandiri's management, however, remains optimistic that they > > can > > > achieve this target, with loans mainly driven by consumer and > > corporate > > > loans which are expected to grow by 30% y-o-y. Thus far, Mandiri only > > > expects loans disbursement of Rp 1Tn from loans for the development of > > toll > > > roads in 2H. > > > > > > > > > > > > · NPLs as of 2Q07 stood at Rp 17.3 Tn (15.5%) vs. Rp 17.9 Tn > > > (16.3%) in the 1Q. Mandiri is also continuing to build its NPL > > coverage > > > which stood at over 80% although the rate of increase has declined in > > 2Q. > > > Mandiri is expecting a gross NPL ratio of 10% by the end of the year. > > > > > > > > > > > > · The bank's loan disposal plan is well underway with Rp2.3 Tn > > > already identified as "Clean" and "Clear", or ready to be sold > > awaiting > > > approval from all stakeholders, including the law enforcement > > agencies. It > > > will be interesting to see whether this actually pans out given that > > in our > > > last conversation with BNI, the other state bank, they still > > maintained > > > their reluctance to give haircuts in the absence of a better legal > > > framework. > > > > > > > > > > > > · As the result was mainly in line with our expectations, we > > > maintain our forecasts. However, we increase our TP to Rp 4,385 based > > on the > > > Gordon Growth model due to higher ROE assumptions (22% vs. 19.65% > > > previously) as we believe Mandiri's operations are performing very > > well and > > > we expect that the ROE recovery is proceeding faster than expected > > with ROE > > > expected to reach 18% in 2008 and 22% in 2011. Our new TP implies a > > 2008 PBV > > > of 2.66x, well below the other big banks' valuations such as BDMN, > > BBCA and > > > BBRI. Maintain BUY. > > > > > > > > > > > > > > > > > > Elvira Tjandrawinata > > > > > > (62-21) 350 9888 ext. 3500 > > > > > > [EMAIL PROTECTED] > > > > > > > > > > > > > > ----------------------------------------------------------------------------------- > > > > > PRIVILEGED AND CONFIDENTIAL (Disclaimer) > > > > > ----------------------------------------------------------------------------------- > > > This e-mail message is intended only for the use of the individual or > > entity > > > to which it is addressed and may contain information that is > > privileged, > > > confidential and exempt from disclosure. If you are not the intended > > > recipient, please do not disseminate, distribute, or copy this > > > communication, by e-mail or otherwise, or take any action in reliance > > on it. > > > Instead, please notify us immediately by return e-mail (including the > > > original message in your reply) to [EMAIL PROTECTED], and then > > delete > > > and discard all copies of the e-mail. > > > > > > > > > > > > > > > ________________________________ > > > Ready for the edge of your seat? Check out tonight's top picks on > > Yahoo! TV. > > > > > > > > > > > > > > > + + > > + + + + + > > Mohon saat meREPLY posting, text dari posting lama dihapus > > kecuali memang diperlukan. > > + + + + + > > + + > > Yahoo! Groups Links > > > > > > > > > >
