Ada one time charge sebesar Rp917milyar, kalau cuman dari operating profit,
paling 2x Q1 07 sekitaran Rp80,- kalau disetahunkan cuman Rp320,- jadi MRQ
PER mestinya cuman 6.8x

On Thu, May 15, 2008 at 3:51 PM, antonius martono salim <
[EMAIL PROTECTED]> wrote:

>     hello i'm a young player in stock, has been long as OB member yet not
> so active. but really learn a lot from the seniors over here.
>
> just received from this milist a forward daily from kim eng securities
> about BLTA q1 result which is very interesting and today hike +10% is just
> the beginning. still very cheap according to me.
>
>  since BLTA reports 515% increase on Net Income. new EPS Q1 = Rp 208,-
> which if we annualized = Rp 832,- or PER 2.58x at current price 2150. this
> makes BLTA the cheapest shipping company in the world since it peers trade
> at 8 -12x, FYI BLTA 2007 trade at 10 - 15x.
>
> if we take the lowest PE 8x then we will have Rp 6656 as the target
> price.since BLTA has high gearing ratio and volatilty to oil price to half
> of it ships (since almost 50% operational ship are contract base) we will be
> pesimistic and drop the PE to 4 or 5x then we will still have 3328 or 4160
> as the target price.
>
>
>
> please comment i'm affraid i'm wrong. thanks
>
>
>
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