Indonesia Daily

UOBKayHian
Wednesday, August 24, 2011
Regional Market
Market Close MSCI Indonesia 4,793.2 MSCI Asia-Ex Japan 495.5 KLCI 1,482.4 FSSTI 2,765.2 SET 1,057.3 Hang Seng 19,875.5 Nikkei 8,733.0 Shanghai Comp 2,554.0 Dow Jones 11,176.8 +/- Chg (%) 56.1 1.2 12.3 2.5 10.2 0.7 33.3 1.2 (10.6) (1.0) 388.7 2.0 104.9 1.2 38.2 1.5 322.1 2.9

AT A GLANCE Corporate Page 2 Adaro Energy: Acquires stake in coal mining company worth US$222.5m. Bumi Resources: Plans to buy back shares. Indofood CBP Sukses Makmur: 1H11 earnings improves by 24% yoy. Indofood Sukses Makmur: 1H11 net profit grows 15% yoy. Tambang Batubara Bukit Asam: Bukit Asam Transpacific to withdraw US$500m loan to fund railway projects.

Indonesia Stock Exchange

Index LQ-45 Value (US$m) Level 3,880.5 686.0 566.9 +/40.8 8.2 (22.4) Chg (%) 1.1 1.2 (3.8)

Foreign Trade in IDX

Net (US$m) (7.8) Buy 192.7 Sell 200.5 Total (%) 34.7

Top Volume
Stock Energi Mega KI Jababeka Bakrie & Brothers Bakrie Sumatera Bakrieland Price (Rp) 198 186 66 385 142 Chg (%) 2.1 2.2 0.0 1.3 (0.7) Volume (000) 544,395 230,419 223,969 142,631 133,609

Top Gainers
Stock Chandra Asri Charoen Pokphand Polaris Investama Surya Citra Media Alam Sutera Price (Rp) 3,150 2,800 1,310 6,100 420 Chg (%) 6.8 6.7 6.5 5.2 5 Volume (000) 66 39,307 8,545 10 101,077

Top Losers
Stock Price (Rp) AKR Corporindo 2,650 Ciputra Development 530 Sinar Mas Agro 6,050 Media Nusantara Citra 960 Wijaya Karya 600 Chg (%) (8.6) (3.6) (3.2) (2.0) (1.6) Volume (000) 32,424 1,519 6 5,290 5,741

Note: Based on top 100 stocks by market capitalisation

Commodity Trend
23 Aug 11 Chg (%) Closing 1-day 1-mth Forex (Rp/US$) 8,544 0.0 0.2 Crude Oil NYMEX (US$/bbl) 85 1.6 (14.4) Coal Fut Amst (US$/tonne) 127 0.7 (0.7) Nickel 3M LME 20,660 (0.9) (13.8) Tin 3M LME 23,350 2.2 (17.5) Gold SPOT (US$/oz) 1,885 0.5 18.2 CPO Fut Msia (MYR/tonne) 3,161 1.2 0.7 Source: Bloomberg

Refer to last page for important disclosures.

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Indonesia Daily
Wednesday, August 24, 2011 Corporate
Adaro Energy: Acquires stake in coal mining company worth US$222.5m. Adaro Energy (ADRO) through
its subsidiary Alam Tri Abadi acquired 75% shares of Mustika Indah Permai (MIP). The acquisition value is estimated to reach US$222.5m. Garibaldi Thohir, CEO of ADRO said that the acquisition is part of ADROs strategy to reach a production capacity of 80m tonnes/year. MIP is a coal mining company that will develop new coal mining projects in South Sumatra. The coal mining area is about 2,000ha and MIP has owned the mining permit for 20 years since Apr 10. Meanwhile, ADRO is also looking to acquire three mines by end of this year. (Source: Kontan)

Bumi Resources: Plans to buy back shares. Bumi Resources (BUMI) will buy back its shares in public of as
much as 780m shares or 3.75% of its shares. The company has prepared up to Rp3.9t of internal cash to execute the plan. BUMI will seek shareholders approval for this corporate action in an extraordinary shareholders meeting on Sep 11. (Source: Kontan)

Indofood CBP Sukses Makmur: 1H11 earnings improves by 24% yoy. Indofood CBP Sukses Makmur (ICBP) booked a good set of 1H11 results with net profit of Rp990b (+24% yoy). Net margin improved from 9.7% to 11%, mainly driven by lower selling, general and administrative (SG&A) expenses as well as declining interest expenses, following lower debts. Sales improved by about 6% yoy to Rp9.4t. (Source: Bisnis Indonesia) Indofood Sukses Makmur: 1H11 net profit grows 15% yoy. Indofood Sukses Makmur (INDF) reported 1H11 net profit of Rp1.6t (+15% yoy), driven by higher sales of Rp22t (+21% yoy). Gross margin declined from 32% to 29% due to the impact of the subsidiarys ICBP IPO, but operating and net margins remained stable at 16% and 7% respectively. The reported profit has already accounted for about 50% of our 2011 forecast of Rp3.2t. (Source: Bisnis Indonesia) Tambang Batubara Bukit Asam: Bukit Asam Transpacific to withdraw US$500m loan to fund railway projects. A joint venture company between Tambang Batubara Bukit Asam (PTBA) Rajawali Group and China
Railway Group, Bukit Asam Transpacific (BATR) plans to withdraw loans of US$500m to finance the development of a railway to transport coal in South Sumatra. BATR will develop railway with total length of 307km from Tanjung Enim to Tarahan with a total investment of about US$1.8b. The company has granted loan commitment from consortium bank from China. It will start the construction in 1H11. PTBA has a 10% stake in BATR, while Rajawali Group owned a 80% stake and the remaining 10% stake is owned by China Railway. Recently, PTBA plans to increase its stake at BATR to 30%. (Source: Investor Daily)

Refer to last page for important disclosures.

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Indonesia Daily
Wednesday, August 24, 2011

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