*PT Bank Danamon Indonesia Tbk 7M16 results - below expectations (BDMN, Rp3,750, Sell, TP Rp3,500). Bank Danamon recorded a net profit of Rp1.6 trillion in 7M16 unconsolidated, +7 YoY. This performance was disappointing due to the net profit portion 51% of consensus forecast FY16 and 48% for the prediction of our year. Although there was a decline in net interest income -4% YoY, operating profit before provisioning (PPOP) rose 6% YoY in 7M16 due to the bank was able to cut operating expenses -10% YoY. Jul16 net profit of Rp126 billion, + 16% YoY/-29% MoM. We still recommend SELL with TP Rp3,500. Currently the company’s shares are traded on the stock valuation ratios hargsa per book value (P/BV) amounted 1x FY16E. (Tjandra Lienandjaja/Research Mandiri Sekuritas)
*PT Mitra Adiperkasa Tbk: Time to shop! (MAPI, Rp4.590, Buy, TP Rp5.900). MAPI become a retailer with EV / EBITDA valuation cheapest now, because it offers the potential for EBIT growth of 26% CAGR in 2015-2018F. We assessed several things can support improved margins, while the company’s attention to the department stores are being handled company. A positive surprise could come from the elimination of contracts with brands that performance was no better in the year ahead, the increase in same store sales growth (SSSG) of initiatives loyalty card program, and the new pricing (re-pricing) to load the borrowing (borrowing costs). We again gave BUY recommendation for MAPI. (Laura Taslim/Research Mandiri Sekuritas).
*The Ministry of Communication and Information will releases regulation global company providing content services through the internet (over the top/OTT) this year.
*PT Krakatau Steel Tbk (KRAS, 900) plans to build a steam power plant (power plant) with a capacity of 1×150 megawatts (MW) and the 2×80 MW coal fired boilers. The investment value of the two projects around Rp 3.3 trillion.
*PT Metrodata Electronics Tbk (MTDL. Rp725) through its subsidiary, PT Mitra integration of informatics, will buy stock in the application on your developer, PT Dwitunggal Solusindo Prima. The Company has signed a preliminary memorandum of understanding with the shareholders of Dwitunggal Solusindo on August 24, 2016.
*PT Kimia Farma Tbk (KAEF, Rp2,200) issuing medium term notes (MTN / MTN) amounting to Rp300 billion. The proceeds of the issuance will be spent to finance the expansion and working capital.