Mansek UNTR:7M10 heavy equipment unit sales up 87%yoy (UNTR,Rp18,700,Buy,TP:Rp21,700)

As of 7M10 heavy equipment unit sales reached 3200(+87%yoy)representing some 64%of our and UNTR ’s Fy10F of 5k units.On mom basis it actually fell a bit by 8%to 468 units .Mining sector continues to be the biggest demand driver with some 59%of total units sold as of 7M10.We continue to maintain our FY10F of 5k considering some seasonality in the months of Sept and Dec.We currently have a buy on the stock PER11F of 13.6x with tp of Rp21,700.