Jakarta Daily Wednesday, December 1, 2010

Morning Brief
IDX (11/30/2010) 3,531.21

Change : -99.43 (-2.74%)

Transaction Volume (bn) : 9.64

Transaction Value (Rp tn) : 10.13

Market Cap (Rp tn) : 3,064

Global Indices Chg (%)

Dow Jones (11/30) 11,006.02 -46.47 -0.42%

Nasdaq (11/30) 2,498.23 -26.99 -1.07%
Market Review
S&P 500 (11/30) 1,180.55 -7.21 -0.61%
Still affected by the negative sentiments that came from global stocks
FTSE 100 (11/30) 5,528.27 -22.68 -0.41% markets and with no new catalyst or positive sentiments that came from
domestic side, IDX was closed negative yet again as IDX trapped in the
DAX (11/30) 6,688.49 -9.48 -0.14% negative zone for the third day in a row on yesterday’s trading session. IDX
CAC 40 (11/30) 3,610.44 -26.52 -0.73% fell even bigger than the first day it fell as it suffered a 99.43 points (-2.74%)
correction compared to 59.51 points (-1.61%) on last Friday. This condition
Nikkei (11/30) 9,937.04 -188.95 -1.87% was caused by a barrage of negative sentiment that came from European
Hang Seng (11/30) 23,007.99 -158.23 -0.68% debt crisis, Korean conflict and China plans to raise its interest rates.
Straits Times (11/30) 3,144.70 -13.51 -0.43%
Market Outlook
Kospi (11/30) 1,904.63 9.09 0.48%
• US stocks markets at last night trading session remain trapped in
Commodity Prices (*) Chg (%) the negative zone as European debt crisis concern remain a
Crude Oil (US$/Barrels) 84.18 -1.46 -1.70%
catalyst for investors in US to dump stocks for a while ahead of
more significant US economic indicators on Friday such as
Gold (US$/Troy Ounce) 1,386.80 18.70 1.37% Nonfarm Payrolls Data and Unemployment Rate per November
Nickel LME (US$/MT) 22,595 -160 -0.70%
2010. US investors possibly pay much more attention to economic
data on Friday as they didn’t embrace the positive US consumer
Tin LME (US$/MT) 24,135 -265 -1.09% confidence data per November where in that month US consumer
CPO BMD (MYR/Ton) 3,412 31 0.92%
confidence reach 54.1, better than previous period at 49.9 and
consensus level at 52.0.
(*) : - Nickel & Tin Closing Price per Nov 30, 2010
- Crude Oil & Gold Closing Price per 08:30 Local Time
• European stocks markets was also remain trapped in the negative
Dual Listing (NYSE) Chg Rp zone after S&P announced that they may cut Portugal’s credit
ratings in the next three months if the country failed to upgrade its
TLKM (US$) 35.99 -0.18 8,129
growth prospects. This S&P’s latest statement keep investors all
ISAT (US$) 30.30 -0.42 5,475 over the world remain fear of a potential contagious debt crisis to
other Eruopean countries mainly Portugal, Spain and Italy. Italy
Key Interest Rates Latest Previous has recently became the attention as its 10-year government bond
and Germany’s bond yields hit a lifetime Euro high yesterday and
BI-Rate 6.50% 6.50% Italy’s debt currently is about 25% of Euro’s GDP.
Fed-Rate 0-0.25% 0-0.25%
• Meanwhile at this morning’s opening trading session Asian stocks
Exchange Rate Rp Chg (%) markets seen mixed where Nikkei and Straits Times seen lower by
0.05% and 0.11% while Kospi and Taiwan seen advancing by 0.09%
US$/IDR (08:30 Local Time) 9,035 23.00 0.26% and 1.16% per 09:00 local time.
KRW/IDR (08:30 Local Time) 7.80 0.04 0.57%
• We expect IDX will likely to remain in the negative zone as there’s
still no catalyst to lift the stocks markets while Euro debt crisis
remain a burden to the market. We expect IDX to move between
support level 3,478-3,496 and resistance level 3,582-3,600.

Research Analyst : Teuku Hendry Andrean

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Jakarta Daily Morning Brief Wednesday, December 1, 2010

News
MEDC Become an Operator of Oil & Gas Working Areas in Aceh
PT Medco Energi International Tbk (MEDC), through its subsidiary Medco E&P Malaka
achieved cooperation contracts (KKS) and become operator of Block A of oil and gas
working areas in Aceh. KKS Work Area Block A held by Medco Malacca (41.6%) and its
partners, they are Premier Oil Sumatra (41.6%) and the Japan Block A Ltd. (16.6%). On
October 28, 2010 Medco Energi and its partners have signed an extension KKS Work Area
Block A for a period of 20 years, commencing 1 September 2011 until August 31, 2031.

META Wants to Spend Rp 4 Trillion to Acquire Infrastructure Projects Next Year

PT Nusantara Infrastructure Tbk (META) wants to spend up to 4 trillion (US$444 million) next
year to buy toll roads, ports and power plants. The company would use internal cash and
external funding to finance the acquisitions. The company has just raised Rp 1 trillion
through a rights issue. The acquisitions, aimed at expanding Nusantara Infrastructure's
business, would involve infrastructure-related projects throughout the archipelago.

BBRI will Distribute Interim Dividend on December 30, 2010

PT Bank Rakyat Indonesia Tbk (BBRI) will distribute the interim cash dividend of Rp 45.93
per share on December 30, 2010. The cum dividend on the regular market and the
negotiation and cash markets, respectively on 17 and 22 December 2010. While the ex-
dividend in the regular market and negotiations will be on December 20, 2010. While the ex-
dividend in cash market will be on December 23, 2010. Recording date will be on December
22, 2010.

IDKM Booked a 389% yoy on Its 3Q2010 Net Income

PT Indosiar Karya Media Tbk booked IDR 27 billion net income in the third quarter of 2010 or
a 389% growth from IDR 9 billion in the same quarter of last year. Until the end of 2010, the
media company still targets for IDR 30 billion - IDR 40 billion incomes. The increase was
contributed by 2% revenue soar to IDR 607 billion from IDR 596 billion. The income gain is
donated by the drop of operating expenses for its program and broadcasting. The gain also
gave positive impact for the company’s gross income increase by 32% to IDR 326 billion in
September 2010 from IDR 247 billion in September 2009. EBITDA (earning before interest,
tax, depreciation, and amortization) rose 28% to IDR 190 billion from IDR 148 billion last
year.

Stock Pick
CODE CLOSE S2 S1 R1 R2 REC

BSDE 990 870 930 1020 1050 Buy

Sell On
KLBF 3500 2900 3200 3950 4400
Strength

CPIN 9600 8800 9200 9900 10200 Reduce

Disclaimer : This document is for infoma-
tion only and for the use of the recipient. It
is not to be reproduced or copied or made ELTY 160 152 156 164 168 Hold
available to others. Under no circum-
stances is it to be considered as an offer to
sell or solicitation to buy any security, Any
recommendation contained in this report
BBCA 6050 5750 5950 6350 6550 Hold
may not to be suitable for all investors.
Moreover, although the information Remarks : S2 = Support 2 REC Definitions : Buy = Enter a long position with full amount
contained herein has been obtained from S1 = Support 1 Accumulate = Enter a long position with portion of the amount
sources believed to be reliable, its accu- R1 = Resistance 1 Hold = Do not cover or sell current position / Do not initiate new position
racy, completeness and reliability cannot R2 = Resistance 2 Reduce = Sell a portion of a position
be guaranteed. All rights reserved by PT REC = Recommendations Sell = Sell the full position
Woori Korindo Securities Indonesia Sell On Strength = Sell the position in R1 or R2 Level
Trading Buy = Speculative Buy and Sell the position at R1 or R2 Level

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