Targets 29.6% y-o-y growth in microcredit loans to Rp70.1tr in FY10
Kontan reported that Bank Rakyat Indonesia (BBRI) expects to channel Rp70.1tr of microcredit loans this year (+29.6% y-o-y), up from Rp54.08tr last year. About Rp1.2tr had been channeled up to Feb10. The growth is inline with BBRI’s plan to enhance its microcredit loans segment, which includes expanding outlets, changing policies and improving service quality.
BBRI plans to open 400 new retail outlets catered for microcredit loans segment, with details as follows: i) 100 units of microcredit outlet, ii) 250 units of “Teras” (microcredit outlet in traditional markets), and iii) 50 units of “Pos Pelayanan Desa” (microcredit outlet outside of traditional markets). The bank is also preparing some 1,250 additional staffs to support these new outlets. In terms of changing policies, BBRI’s plan is to loosen up its loan screening for microcredit loans.
We maintain our BUY rating on BBRI with Rp10,400 TP. The bank has healthy prospects with strong NIM (albeit declining) and strong ROE profiles on account of high yield microcredit loans.
Tampilkan postingan dengan label 750; TP Rp10. Tampilkan semua postingan
Tampilkan postingan dengan label 750; TP Rp10. Tampilkan semua postingan
Kamis, 08 April 2010
Kamis, 18 Maret 2010
DBS Indocement Tunggal: Buy; Rp13,750; TP Rp10,500; INTP IJ
To build additional cement mill by end of 2010
The media reported that Indocement (INTP) plans to build an additional cement mill in Cibinong (West Java) with total capacity of 1.5m p.a., in addition to its two new cement mills, which are expected to commence operations within the next two months. INTP management expects the construction of the new mill to start by end of this year or early next year and operation commencement by 2012. The required capital expenditure reportedly amount to US$60m and will be financed by internal cash. As of end-Sep09, INTP is in net cash position with ending cash balance of Rp1.7tr.
Aside from the cement mill, INTP also plans to build new cement factories with production capacity of 2-3m tons p.a., preferably to be located in Citeureup (West Java), Tarjun (South Kalimantan) and Central Java. The company is also undergoing discussion with regards to its plan to develop a 2x50 MW coal-fired power plant.
The media reported that Indocement (INTP) plans to build an additional cement mill in Cibinong (West Java) with total capacity of 1.5m p.a., in addition to its two new cement mills, which are expected to commence operations within the next two months. INTP management expects the construction of the new mill to start by end of this year or early next year and operation commencement by 2012. The required capital expenditure reportedly amount to US$60m and will be financed by internal cash. As of end-Sep09, INTP is in net cash position with ending cash balance of Rp1.7tr.
Aside from the cement mill, INTP also plans to build new cement factories with production capacity of 2-3m tons p.a., preferably to be located in Citeureup (West Java), Tarjun (South Kalimantan) and Central Java. The company is also undergoing discussion with regards to its plan to develop a 2x50 MW coal-fired power plant.
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