Betul...perhatikan profit marginnya jg...mlempem 2008/5/15 Jhon Veter <[EMAIL PROTECTED]>:
> > > Cuma agak harus hati-hati pak Antonius. Peningkatan laba bersih pada q1 > terutama ditopang dengan perubahan nilai wajar obligasi konversi ….. Apakah > bisa terulang di Q2,3, dan 4 ??? Jadi perhitungan PER nya tidak bisa memakai > angka disetahunkan, harus ada justifikasi lagi. > > > > Faktanya sebenarnya dibalik cerita BLTA adalah laba bersih yang "hanya" > dari usaha BLTA cuma berkisar 200 M saja (diluar konversi)…. Belum lagi > obligasi konversi ini dijamin dengan saham loh…. Artinya akan memberikan > efek dilusi kepada para pemilik saham saat ini jika para pemegang hak > obligasi menukarkannya dengan saham (seiring peningkatan harga saham). Belum > lagi secara tersirat terlihat laba sebesar 200 M masih lebih kecil > dibandingkan kewajiban obligasi sebesar Rp 300 M…. Weleh. So , must be > carefull. Maybe not for invest anymore on this stock. > > > > Memang secara teknikal BLTA bisa dibeli…. Tembus downtrend dengan vol > besar. Cuma sekali lagi laporan keuangannya ibarat air. > > > > > > Regards > > > > > > JV > > > > > > > > > > *BLTA - Q1 2008 Result Astounding > *<http://groups.yahoo.com/group/obrolan-bandar/message/82783;_ylc=X3oDMTJyOGlqaTU3BF9TAzk3MzU5NzE1BGdycElkAzE2NTIzNTUEZ3Jwc3BJZAMxNzA1MDAxNzc5BG1zZ0lkAzgyNzgzBHNlYwNkbXNnBHNsawN2bXNnBHN0aW1lAzEyMTA4NDMwNDQ-> > ** > > *Posted by: "antonius martono salim" [EMAIL PROTECTED] > <[EMAIL PROTECTED]> > martonosalim <http://profiles.yahoo.com/martonosalim>* > > *Thu May 15, 2008 1:51 am (PDT) * > > hello i'm a young player in stock, has been long as OB member yet not so > active. but really learn a lot from the seniors over here. > just received from this milist a forward daily from kim eng securities > about BLTA q1 result which is very interesting and today hike +10% is just > the beginning. still very cheap according to me. > since BLTA reports 515% increase on Net Income. new EPS Q1 = Rp 208,- > which if we annualized = Rp 832,- or PER 2.58x at current price 2150. this > makes BLTA the cheapest shipping company in the world since it peers trade > at 8 -12x, FYI BLTA 2007 trade at 10 - 15x. > if we take the lowest PE 8x then we will have Rp 6656 as the target > price.since BLTA has high gearing ratio and volatilty to oil price to half > of it ships (since almost 50% operational ship are contract base) we will be > pesimistic and drop the PE to 4 or 5x then we will still have 3328 or 4160 > as the target price. > please comment i'm affraid i'm wrong. thanks > > > >
