Jakarta Daily Friday, December 3, 2010

Morning Brief
IDX (12/02/2010) 3,694.58

Change : 75.49 (2.09%)

Transaction Volume (bn) : 7.21

Transaction Value (Rp tn) : 7.00

Market Cap (Rp tn) : 3,203

Global Indices Chg (%)

Dow Jones (12/02) 11,362.41 106.63 0.95%

Nasdaq (12/02) 2,579.35 29.92 1.17%
Market Review
S&P 500 (12/02) 1,221.53 15.46 1.28%
IDX on the second day in a row managed to be closed significantly higher
FTSE 100 (12/02) 5,767.56 125.06 2.22% with another 2% gain embracing the positive trend on the global and
regional stocks markets following the positive economic data from US. The
DAX (12/02) 6,957.61 90.98 1.32% positive economic data from US was able to overshadowed investors
CAC 40 (12/02) 3,747.04 77.75 2.12% 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
Nikkei (12/02) 10,168.52 180.47 1.81% gain just like US stocks markets did. The strong performance by IDX was
Hang Seng (12/02) 23,448.78 198.98 0.86% spurred by the strong gain from BUMI, ASII, KRAS, KLBF and TLKM.
Straits Times (12/02) 3,197.96 16.02 0.50%
Market Outlook
Kospi (12/02) 1,950.26 20.94 1.09%
• US stocks markets on last night’s trading session continued its
Commodity Prices (*) Chg (%) gain as markets embraced another positive economic data with
Crude Oil (US$/Barrels) 87.73 1.18 1.36%
pending home sales gained 10.4% in October which indicates that
problems with processing foreclosures didn’t hurt activity. The
Gold (US$/Troy Ounce) 1,392.40 0.80 0.06% continuation uptrend from US stocks markets also encouraged by
Nickel LME (US$/MT) 23,675 370 1.59%
retailers which post a better than expected results in November on
expectations of a bright holiday season.
Tin LME (US$/MT) 25,450 325 1.29%
CPO BMD (MYR/Ton) 3,500 14 0.40% • Meanwhile European stocks markets also stayed in the positive
zone as investors reacted positively on ECB’s action in buying
(*) : - Nickel & Tin Closing Price per Dec 2, 2010
- Crude Oil & Gold Closing Price per 08:30 Local Time bonds of Portugal and Ireland at modestly higher rate than usual to
show ECB supports to contain Euro Debt crisis not to spread any
Dual Listing (NYSE) Chg Rp further. Although investors felt disappointed on ECB president’s
statement which didn’t announce an aggressive bond-buying
TLKM (US$) 36.80 0.22 8,290
program previously, but ECB’s action on Portugal and Ireland’s
ISAT (US$) 31.10 1.43 5,605 bond was enough to put European shares stay green on
yesterday’s trading session.
Key Interest Rates Latest Previous

BI-Rate 6.50% 6.50%

• Asian stocks markets at this morning opening trading session
seen mostly in the positive zone as Nikkei, Hang Seng and Kospi
Fed-Rate 0-0.25% 0-0.25% advancing by 0.14%, 0.23% and 0.07% per 09.05 local time.

Exchange Rate Rp Chg (%) • We expect IDX to stay in the positive zone on today’s trading
US$/IDR (08:30 Local Time) 9,011 11.00 0.12%
session following the positive trend which still maintain in the
global and regional stocks markets. We expect IDX to move between
KRW/IDR (08:30 Local Time) 7.83 0.03 0.42% support level 3,640-3,657 and resistance level 3,727-3,743.

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 CLOSE S2 S1 R1 R2 REC

BUMI 3000 2750 2875 3050 3125 Buy

BBCA 6500 6400 6450 6600 6700 Hold

BBRI 11200 10900 11050 11300 11400 Hold

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 INDF 4900 4750 4850 4950 5050 Accumulate
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
MPPA 1580 1310 1440 1740 1910 Buy
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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