SMGR ya Pak,
Kebeltulan saya baca FSnya bbrp minggu lalu, ini saya share:
Secara Fundamental perusahaan ini sangat solid, no doubt, nothing to worry.
S/d dg 31/12/07 cash & setara cash aja sudah 1/4 dr Total assetnya. Kemampuan
membayar hutang, baik itu hutang jangka panjang ataupun jangka pendek sesuai
terms and conditionsnya, sangat kuat. Cash inflownya sendiri sangat solid.
Malah dividen yg dibagikan hampir sama dg jumlah hutang yg dibayar.
Terlebih lagi significant increase di revenue tidak dibarengi dg costnya,
padahal investment di fixed asset sangat kecil. Ada kemungkinan perusahaan ini
operating 3 shift ataupun mampu menekan harga bahan baku krn ketergantungan thd
barang baku dr 1-2 suppilers < 10% dr total bahan baku required.
Kalau dilihat dr indikator Financial Ratio, SMGR ini terlalu liquid, sebetulnya
malah kurang baik, krn bisa dinilai tidak mampu memanfaatkan kelebihan yg
dimilikinya. Mungkin krn itu maka tgl 10/12/2007 diadakan RUPSLB untuk
membangun 2 pabrik baru di Jawa dan Sulawesi dg kapasitas terpasang 2x2.5 jt
ton, dan power plant 410 MW, dg investasi masing2 US$ 670jt dan US$ 573jt,
dengan jaminan 50% total assets dari SMGR ini.
Realisasi dr investasi hsl RUPSLB itu pasti butuh wkt lama. Biasalah BUMN,
teralu banyak protokolernya Kalau anda daily trader memang SMGR SANGAT TIDAK
COCOK. Swing-swung hampir tidak ada. malah saya curiga SMGR ini salah satu
saham yg digebug utk naikkin saham lain. Saya gak tau bobotnya brapa di index
BEI, musti tanya Pak Boyz yg biasanya merhatiin.
Jadi kalau punya SMGR ya disimpan aja utk long. Tinggal tunggu realisasi
proyek baru diatas. Kalau sdh realisasi, ada kemungkinan ngebut. Saya tidak
melihat ada sesuatu yg negatif dr SMGR ini. Saya sendiri punya cukup banyak,
bahkan sebelum stock split th lalu. Saya simpen aja krn memang sahamnya ANTENG.
Mudah2an bermanfaat.
AA
----- Original Message ----
From: "Prasetyo, Hani" <[EMAIL PROTECTED]>
To: obrolan-bandar@yahoogroups.com
Sent: Thursday, April 17, 2008 6:08:32 PM
Subject: [obrolan-bandar] Prospek SMGR
SMGR anteng di range 4200 – 4300-an… rekan2 ada yang punya info ttg SMGR tolong
dishare… Tx be4
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