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Jakarta Daily

Friday, December 3, 2010

Morning Brief
IDX (12/02/2010) Change : Transaction Volume (bn) : Transaction Value (Rp tn) : Market Cap (Rp tn) : Global Indices Dow Jones (12/02) Nasdaq (12/02) S&P 500 (12/02) FTSE 100 (12/02) DAX (12/02) CAC 40 (12/02) Nikkei (12/02) Hang Seng (12/02) Straits Times (12/02) Kospi (12/02) Commodity Prices
(*)

3,694.58 75.49 (2.09%) 7.21 7.00 3,203 Chg 11,362.41 2,579.35 1,221.53 5,767.56 6,957.61 3,747.04 10,168.52 23,448.78 3,197.96 1,950.26 106.63 29.92 15.46 125.06 90.98 77.75 180.47 198.98 16.02 20.94 Chg 87.73 1,392.40 23,675 25,450 3,500 1.18 0.80 370 325 14 (%) 0.95% 1.17% 1.28% 2.22% 1.32% 2.12% 1.81% 0.86% 0.50% 1.09% (%) 1.36% 0.06% 1.59% 1.29% 0.40%

Market Review
IDX on the second day in a row managed to be closed significantly higher with another 2% gain embracing the positive trend on the global and regional stocks markets following the positive economic data from US. The positive economic data from US was able to overshadowed investors worries on the debt crisis matters in the Euro zone for a while as European stocks markets at yesterday’s trading session was able to show a strong gain just like US stocks markets did. The strong performance by IDX was spurred by the strong gain from BUMI, ASII, KRAS, KLBF and TLKM.

Market Outlook

US stocks markets on last night’s trading session continued its gain as markets embraced another positive economic data with pending home sales gained 10.4% in October which indicates that problems with processing foreclosures didn’t hurt activity. The continuation uptrend from US stocks markets also encouraged by retailers which post a better than expected results in November on expectations of a bright holiday season. Meanwhile European stocks markets also stayed in the positive zone as investors reacted positively on ECB’s action in buying bonds of Portugal and Ireland at modestly higher rate than usual to show ECB supports to contain Euro Debt crisis not to spread any further. Although investors felt disappointed on ECB president’s statement which didn’t announce an aggressive bond-buying program previously, but ECB’s action on Portugal and Ireland’s bond was enough to put European shares stay green on yesterday’s trading session. Asian stocks markets at this morning opening trading session seen mostly in the positive zone as Nikkei, Hang Seng and Kospi advancing by 0.14%, 0.23% and 0.07% per 09.05 local time. We expect IDX to stay in the positive zone on today’s trading session following the positive trend which still maintain in the global and regional stocks markets. We expect IDX to move between support level 3,640-3,657 and resistance level 3,727-3,743.

Crude Oil (US$/Barrels) Gold (US$/Troy Ounce) Nickel LME (US$/MT) Tin LME (US$/MT) CPO BMD (MYR/Ton)

(*) : - Nickel & Tin Closing Price per Dec 2, 2010 - Crude Oil & Gold Closing Price per 08:30 Local Time

Dual Listing (NYSE) TLKM (US$) ISAT (US$) 36.80 31.10

Chg 0.22 1.43 Latest 6.50% 0-0.25% Rp 9,011 7.83 Chg 11.00 0.03

Rp 8,290 5,605 Previous 6.50% 0-0.25% (%) 0.12% 0.42%

Key Interest Rates BI-Rate Fed-Rate Exchange Rate US$/IDR (08:30 Local Time) KRW/IDR (08:30 Local Time)

Research Analyst : Teuku Hendry Andrean

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Jakarta Daily Morning Brief

Friday, December 3, 2010

News
A Foreign Fund Currently Initiating a Private Placement on ASII A foreign fund is initiating to hold a private placement on PT Astra International Tbk (ASII) shares with a target of IDR 1.02 trillion proceed. Two fund managers said there is no clear identity who is the seller in the placement. But, Macquarie Securities is now working to open a book building to gather demand from investors. The seller intends to dispose 20 million shares or 0.5% holding in Astra International with a maximum discount of 5% from the closing price yesterday. Astra International yesterday advanced 3.05% to IDR 54,050 per share. Regarding to the discount, the seller is now offering the shares at the lowest level of IDR 51,350 per share. UNTR Targeted Production and Sale of Coal Reach 4.5 Million Tonnes in 2011 PT United Tractors Tbk (UNTR) targeted the production and sale of coal from the mines of 4.5 million tons in 2011. From DEJ mine located in South Kalimantan, it would contribute 2.5 million tonnes. DEJ mine produces coal with 6,700 Kcal calories, with reserves amounting to 16 million tonnes. While the Tuah Turangga Agung (TTA) mine in Central Kalimantan, will contribute at 1.977 million tonnes, nearly two million tons. TTA produce coal with a quality of 6,300 Kcal, with coal reserves of 40 million tonnes. While Agung Bara Prima (ABP), the newly acquired company, the new commercial will produce at least in 2013. TLKM Plans to Distribute Interim Dividend Amounting IDR 26.75 per Share PT Telekomunikasi Indonesia Tbk (TLKM) plans to distribute IDR 26.75 per share dividend interim on January 11 2011. The total dividend of the company is IDR 526.16 billion or 5.91% of its September's net profit of IDR 8.9 trillion. To determine the final dividend for the fiscal year of 2010, the company will count the interim dividend as well. BMRI Plans to Distribute Interim Dividend Ammounting IDR 19.64286 per Share PT Bank Mandiri Tbk (BMRI) is preparing interim dividend amounting IDR 19.64286 per share for fiscal year 2010. Cum dividend scheduled in the regular market and negotiations on December 21, 2010. While the cash market on December 27, 2010. For ex dividend on the regular market, negotiated and cash markets respectively at 22 and 28 December 2010. Recording date on December 27, 2010 and interim dividend payment date on December 30, 2010.

Stock Pick
CODE BUMI BBCA BBRI
Disclaimer : This document is for infomation only and for the use of the recipient. It is not to be reproduced or copied or made available to others. Under no circumstances is it to be considered as an offer to sell or solicitation to buy any security, Any recommendation contained in this report may not to be suitable for all investors. Moreover, although the information contained herein has been obtained from sources believed to be reliable, its accuracy, completeness and reliability cannot be guaranteed. All rights reserved by PT Woori Korindo Securities Indonesia

CLOSE 3000 6500 11200 4900 1580

S2 2750 6400 10900 4750 1310

S1 2875 6450 11050 4850 1440

R1 3050 6600 11300 4950 1740

R2 3125 6700 11400 5050 1910

REC Buy Hold Hold Accumulate Buy

INDF MPPA

Remarks : S2 = Support 2 REC Definitions : S1 = Support 1 R1 = Resistance 1 R2 = Resistance 2 REC = Recommendations

Buy = Enter a long position with full amount Accumulate = Enter a long position with portion of the amount Hold = Do not cover or sell current position / Do not initiate new position Reduce = Sell a portion of a position Sell = Sell the full position 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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