jadi kalo digabungin analisisnya utk trading Buy di 19rb-an dan sell di 23rb-an (kalo direstui bandar)
Simple Disc-on Regards, H4 "Plan Your Trade and Trade Your Plan" >________________________________ > From: mega liefwarnadya <[email protected]> >To: [email protected] >Sent: Thursday, December 13, 2012 1:59 PM >Subject: Re: Bls: [saham] Saham UNVR > > > >Agree dengan ini, kalo kenaikan royalti lumrah lah, krn prod selalu naik.. > >Jd bisa ke 23rb lg >Powered by Telkomsel BlackBerry® > >-----Original Message----- >From: H4 <[email protected]> >Sender: [email protected] >Date: Wed, 12 Dec 2012 22:51:26 >To: [email protected]<[email protected]> >Reply-To: [email protected] >Subject: Re: Bls: [saham] Saham UNVR > >Nah kalo dari dari Kim Eng berikut analisisnya >silahkan dikompare... > > >Regards, >H4 >"Plan Your Trade and Trade Your Plan" > > > > > > > >Unilever Indonesia (UNVR.IJ, HOLD): Pressured by Higher Licensing Costs >v Unilever Indonesia (UNVR.IJ)’s share price fell 11% yesterday as the >company announced that it had signed three agreements >with Unilever NV (Netherlands) as follows: >v Trade Mark License Agreement (TMLA): UNVR.IJ will be required to pay 3% >of the revenue it generates from products with global brands, to be applied >gradually: 1% in 2013, 2% in 2014 and 3% in 2015. This agreement replaces the >2% royalty UNVR.IJ currently pays its parent and is valid for five years, with >an automatic rollover of three years thereafter. >v Technology License Agreement (TLA): UNVR.IJ will be required to pay 2% >of revenue it generates from products with global brands. This too will be >applied gradually: 1% in 2013, 1.5% in 2014 and 2% in 2015, replacing the 2% >royalty UNVR.IJ currently pays its parent. The agreement is valid for five >years with automatic rollover of three years thereafter. >v Central Service Agreement (CSA): UNVR.IJ will be required to pay a >maximum of 3% of revenue generated from products with global brands. This >replaces the 1.5% it used to pay under its previous CSA, and will be effective >1 Jan 2013. >v The new agreements will gradually increase UNVR.IJ’s costs from the >current 3.5% (2% royalty, 1.5% services) of revenue from global brands it >currently pays, to a maximum of 8% of this revenue when the agreements are >fully applied in 2015. >v We revise our forecasts for the stock. Ceteris paribus and assuming >the company does not raise ASPs nor take any drastic measures to overcome the >impact of the higher costs, the increase in its cost structure justifies a new >TP of IDR23,400 (11% below our previous TP of IDR26,350) in our view, pegging >the stock at 35x FY13F PER. Following the deep share price correction >yesterday, the stock is a HOLD. > > >Analyst >Katarina Setiawan >[email protected] >(62 21) 2557 1188 > > >Disclaimer: >"This e-mail and its attachment(s) are confidential and intended only for the >use of the individual to whom it is addressed and may contain information that >is privileged. If you are not the intended recipient, you are strictly >prohibited to take any action based upon them, which also includes >dissemination, distribution, printing and copying of this e-mail and its >contents. If you have received this communication in error, please notify us >immediately by reply and delete this message from your system. You may from >time to time be provided with investment and financial related information and >reports, including but not limited to, research reports and market or >securities specific analysis. Please note that the information is provided to >you for information only. All of the information report and analysis made >should be taken as having been prepared for the purpose of general circulation >and without regard to any specific investment objective, financial >situation or the needs of any particular person who may receive the >information, report or analysis (including yourself). Any recommendation or >advice that may be expressed in or inferred from such information, reports or >analysis therefore does not take into account and may not be suitable for your >investment objectives, financial situation and particular needs. Any views or >opinions expressed are solely those of the author and do not necessarily >represent Maybank Investment Bank Berhad (Maybank-IB) or any of its >affiliates" > > > > >>________________________________ >> From: "[email protected]" <[email protected]> >>To: Saham <[email protected]> >>Sent: Thursday, December 13, 2012 1:45 PM >>Subject: Re: Bls: [saham] Saham UNVR >> >> >> >>Kalau trader, chart sdh bilang beli ya kita buy, pasang CL + TP + MM >> >>Kalau investor ya perhitungkan PER, dll >> >> >>"HiDuP Cm SkLi JgN DiBuAt SuSaH" >>________________________________ >> >>From: "wandelon" <[email protected]> >>Sender: [email protected] >>Date: Thu, 13 Dec 2012 06:42:50 +0000 >>To: <[email protected]> >>ReplyTo: [email protected] >>Subject: Re: Bls: [saham] Saham UNVR >> >> >>Asal bersabar simpan aja sih untuk invest long, ngga masalah pak buy :-) >>..... >> >>Rgds, >>Powered by Me® >>________________________________ >> >>From: [email protected] >>Sender: [email protected] >>Date: Thu, 13 Dec 2012 06:39:44 +0000 >>To: <[email protected]> >>ReplyTo: [email protected] >>Subject: Re: Bls: [saham] Saham UNVR >> >> >>Disaat semua sell semua..kesempatan beli murah untuk saham bluechip UNVR >>dimana2 masih pake pepsodent sunslik dll >>Sent from BlackBerry® on 3 >>________________________________ >> >>From: "mega liefwarnadya" <[email protected]> >>Sender: [email protected] >>Date: Thu, 13 Dec 2012 06:28:45 +0000 >>To: <[email protected]> >>ReplyTo: [email protected] >>Subject: Re: Bls: [saham] Saham UNVR >> >> >>Maksudnya ini bakalan 19rb? Sebagai TP? >>Powered by Telkomsel BlackBerry® >>________________________________ >> >>From: H4 <[email protected]> >>Sender: [email protected] >>Date: Wed, 12 Dec 2012 22:24:08 -0800 (PST) >>To: [email protected]<[email protected]> >>ReplyTo: [email protected] >>Subject: Re: Bls: [saham] Saham UNVR >> >> >>Berikut analis dari Mansek >> >>Regards, >>H4 >>"Plan Your Trade and Trade Your Plan" >> >> >> >> >>Squeeze out the juice >> >>Unilever Indonesia made a shocking announcement yesterday, raising the >>royalty charges it pays its parent firm from 3.5% of revenue currently to a >>maximum of 8%. This is significantly higher than the 3% median charged by >>other foreign subsidiaries listed in Indonesia, and we cut our 2013-15F EPS >>forecasts by 6.3%, 13.0% and 19.5% respectively. We downgrade to SELL with >>reduced T/P of Rp19,000/share, implying 28x 2013F PER >> >>New royalty charges higher than the market. In our discussion with the >>company, it mentioned the change in royalty structure is to strengten UNVR’s >>position as the exclusive Indonesian arm of its parent company. But we are >>doubtful. We may see this as another way to maximize return of its Indonesia >>investment. The 8% new royalty charges is significantly higher than the 3% >>median charged by other foreign subsidiaries listed in Indonesia. Market >>perception may change and questioning UNVR legit premium of reputation. >>Interestingly, Unilever Global CEO made comment on the other occasion on its >>bearish european business outlook. >> >>A value dragger transaction. As we put the revision down in our calculation, >>we cut UNVR EPS for 13F, 14F and 15F by 6.3%, 13.0% and 19.5%, respectively. >>It suggests reduced dividend potential which has been the main attraction for >>the company. This is even assuming the same payout ratio, the EPS will be >>drastically reduced, so will the DPS. >> >>Uprising competition set backs price power. We are not optimistic on UNVR >>pricing power that will likely limit its ability to fully pass the higher >>charge to customers. Intensifying market competition backs our view, >>especially noting recent aggressive moves by major competitors such as P&G >>and Wings. P&G will have a new factory next year, while Wings has just made a >>big comeback with a new ad blast for its new So Klin detergent, the close >>competitor of UNVR’s main product Rinso.. >> >>SELL at TP Rp19,000/sh. With added concern above, higher equity risk is >>applied in UNVR and given single digit EPS growth over the next three years, >>a valuation de-rating is likely. We capped our PE 2013 at 28x to derive our >>new TP for UNVR of Rp19,000/share. SELL. >> >> >>Octavius Oky Prakarsa >>+6221 5296 9547 >>[email protected] >>Plaza Mandiri 28th floor >>Phone: +62 21 526 3445 >>Fax: +62 21 527 5711 >> >> >> >> >> >>>________________________________ >>> From: "[email protected]" <[email protected]> >>>To: "[email protected]" <[email protected]> >>>Sent: Thursday, December 13, 2012 1:20 PM >>>Subject: Re: Bls: [saham] Saham UNVR >>> >>> >>> >>>Hwahhh saya sudah ambil unvr pada penurunan kemarin, ternyata skrng turun >>>lg. :-( semoga lekas techreborn-nya. >>>________________________________ >>> >>>From: evita lusiani <[email protected]> >>>Sender: [email protected] >>>Date: Thu, 13 Dec 2012 13:00:00 +0800 (SGT) >>>To: <[email protected]> >>>ReplyTo: [email protected] >>>Subject: Bls: [saham] Saham UNVR >>> >>> >>>UNVR stock fell in the morning after Unilever Indonesia announced change in >>>rate of royalty to be paid to Unilever NV (parent company). The changes will >>>be >>>done in stages from current royalty rate of ~3.5% sales to >>>estimated 5% sales in 2013, 6.5% sales in 2014, and 5% sales + >>>actual recovery cost up to 3% sales in 2015 >>> >>>--- Pada Kam, 13/12/12, Rio Suki <[email protected]> menulis: >>> >>> >>>>Dari: Rio Suki <[email protected]> >>>>Judul: Bls: [saham] Saham UNVR >>>>Kepada: [email protected] >>>>Tanggal: Kamis, 13 Desember, 2012, 6:08 AM >>>> >>>> >>>> >>>>Unvr setiap 6 bulan bikin candle yg panjang banget. Misal jan12, june 12, >>>>and sekarang. Memang gayanya >>>> >>>>Salam >>>> >>>> >>>> >>>>________________________________ >>>> From: [email protected] <[email protected]>; >>>>To: [email protected] <[email protected]>; >>>>Subject: [saham] Saham UNVR >>>>Sent: Wed, Dec 12, 2012 4:22:12 PM >>>> >>>> >>>> >>>>Dear sahabat-sahabat kira-kira ada apa yah dengan saham UNVR hari ini? >>>>Mohon info dan ulasannya. Dilihat dari chartnya jarang sekali UNVR turun >>>>segitu dalam. >>>> >>>> >>> >>> >> >> >> > > > >
