Cahaya Kalbar 1Q Sales Drop 38.38%

Monday, 29 June 2009 17:15:12
StockWatch (Jakarta) - Edible oil producer PT Cahaya Kalbar Tbk (CEKA) booked IDR363.12 billion of sales in January-March 2009, falling 38.38% from IDR592.55 billion in the same period of 2008, the company's president Erik Tjia said.

He said in a public expose document issued today (Monday 29/6) in Jakarta, sales stepped down on global recession that caused decline in the market's buying capability. He said 87.97% of the first-quarter sales or IDR321.19 billion came from the local market and IDR43.93 billion from the export market.

Gross profit stumbled 28.88% at IDR65.63 billion during that period from IDR92.28 billion in the same period of 2008, because production and sales were down, but operating profit was up 14.82% at IDR58.60 billion versus IDR51.04 billion.

But net profit was up 7.56% at IDR38.69 billion during that period versus IDR35.97 billion in the same period of 2008, due to decline in lower cost of goods sold (COGS) and operating expense. (abr/bw)

Top Loser 29-06-2009

Bursa Efek Indonesia
Top Loser 29-06-2009
Code	Name	Prev	Close	Change	Pct.	Volume	Value	Freq
AALI	Astra Agro Lestari Tbk	17,500	17,100	400	-2.29%	577,000	9,876,900,000	259
TLKM	Telekomunikasi Indonesia Tbk	7,600	7,400	200	-2.63%	22,520,000	168,127,475,000	1,216
PTRO	Petrosea Tbk	10,000	9,800	200	-2.00%	13,500	131,900,000	8
PTBA	Tambang Batubara Bukit AsamTbk	11,850	11,650	200	-1.69%	2,029,000	23,626,300,000	584
BYAN	Bayan Resources Tbk	5,400	5,250	150	-2.78%	87,000	453,325,000	29
LSIP	PP London Sumatera Tbk	6,150	6,000	150	-2.44%	945,000	5,705,550,000	268
UNVR	Unilever Indonesia Tbk	9,150	9,000	150	-1.64%	1,071,000	9,625,325,000	261
BISI	BISI International Tbk	1,920	1,860	60	-3.13%	960,000	1,801,505,000	197
DVLA	Darya-Varia Laboratoria Tbk	1,570	1,520	50	-3.18%	9,000	13,775,000	4
MEDC	Medco Energi International Tbk	3,075	3,025	50	-1.63%	1,950,000	5,877,062,500	335

Top Gainer 29-06-2009

Bursa Efek Indonesia
Top Gainer 29-06-2009
Code	Name	Prev	Close	Change	Pct.	Volume	Value	Freq
BATA	Sepatu Bata Tbk	29,250	30,150	900	3.08%	500	15,075,000	1
TCID	Mandom Indonesia Tbk	5,800	6,600	800	13.79%	92,500	592,725,000	25
GGRM	Gudang Garam Tbk	11,650	12,450	800	6.87%	1,327,500	16,332,325,000	257
ITMG	Indo Tambangraya Megah Tbk	19,900	20,200	300	1.51%	652,000	13,077,525,000	453
KKGI	Resource Alam Indonesia Tbk	2,000	2,100	100	5.00%	500	1,050,000	1
BDMN	Bank Danamon Tbk	4,650	4,750	100	2.15%	10,317,500	49,361,800,000	609
BBRI	Bank Rakyat Indonesia Tbk	6,500	6,600	100	1.54%	11,357,500	74,725,000,000	644
INTP	Indocement Tunggal Prakasa Tbk	7,700	7,800	100	1.30%	913,000	7,029,400,000	60
HEXA	Hexindo Adiperkasa Tbk	2,300	2,375	75	3.26%	3,942,000	9,285,725,000	475
KBRI	Kertas Basuki Rachmat Indon...	225	280	55	24.44%	2,500	700,000	1

Tambang Asing Harus Lepas 20% Saham

Monday, 29 June 2009 15:14:02
StockWatch (Jakarta) - Pemerintah bakal membatasi kepemilikan asing di sektor tambang di Indonesia. Sesuai dengan penerapan UU Minerba Nomor 4 tahun 2009 pasal 112 ayat 1, setelah lima tahun berproduksi, badan usaha pemegang IUP dan IUPK yang sahamnya dimiliki oleh asing wajib melakukan divestasi sahamnya pada pemerintah pusat, pemda, BUMN, BUMD atau Badan usaha swasta nasional. Divestasi tersebut harus dilakukan selama empat tahun.

Direktur Pembinaan Pengusahaan Mineral dan Batubara, Bambang Gatot Ariyono, mengatakan perusahaan tambang asing yang sudah lima tahun berproduksi harus mendivestasikan 20% sahamnya kepada pemerintah. Divestasi tersebut harus dilakukan selama empat tahun.

Dijelaskan, besaran divestasinya dalam UU tersebut belum ditentukan, sehingga hal tersebut akan diatur lagi melalui Peraturan Pemerintah. Ia menambahkan, kebanyakan perusahaan nasional rata-rata memiliki saham diperusahaan asing sekitar 20%. "Jadi dalam Rancangan PP nanti dimasukan kewajiban divestasi 20%," ujar Bambang di Jakarta, Senin (29/6).

Menurut Bambang, divestasi saham tersebut dilakukan selama empat tahun di mana setiap tahun perusahaan tambang asing tersebut harus mendivestasikannya sebanyak saham 5%. Pada tahun keenam perusahaan tersebut harus mendivestasikan 5%, tahun ketujuh 5%, kemudian di tahun kedepalan 5% hingga tahun kesembilan total yang didivestasikan 20%. (Herman Susanto)

FKS Multi Agro's Dividends IDR2.4 Bn

Monday, 29 June 2009 15:49:23
StockWatch (Jakarta) - Animal feed producer PT FKS Multi Agro Tbk (FISH) has decided to pay cash dividends of IDR5 per share for the 2008 fiscal year or totally IDR2.4 billion.

FKS Multi Agro's management said in an announcement to the shareholders, the management has allocated IDR100 million from the company's 2008 net profit for reserve and has decided to withhold IDR22.54 billion.

Until March 2009, FKS Multi Agro booked IDR380.55 billion of net revenue, falling 35.37% versus IDR588.8 billion in the same period of 2008, with net profit of IDR6.78 billion or 24.25% lower than IDR8.95 billion. (yan/bw)

Citra Marga Nusaphala Not to Pay Dividends

Monday, 29 June 2009 16:16:28
StockWatch (Jakarta) - Tollroad construction company PT Citra Marga Nusaphala Tbk (CMNP) has decided not to pay dividends for the 2008 fiscal year, the company's president Shadik Wahono said.

He said the company has decided to keep IDR2.44 billion of the company's IDR72.44-billion net profit in 2008 as reserve, and to withhold the IDR70 billion of the profit.

"Our shareholders have approved the whole agenda of the meeting as well as the management's decision not to pay dividends for 2008 fiscal year," he said in a public expose today (Monday 29/6) in Jakarta.

CMNP recorded revenue of IDR572 billion at the end of December 2008, rising 15.2% from IDR496.2 billion in 2007, while the company's net profit dropped 39.93% at IDR72.44 billion from IDR120.59 billion in 2007. (irawan/bd)

PENGAMAT: BI HARUS AWASI PENGUASAAN SAHAM ASING

Pengamat ekonomi dari Universitas Gajah Mada (UGM), Sri Adiningsih PhD, mengatakan, Bank Indonesia (BI) sebagai otoritas moneter di Indonesia harus mengawasi penguasaan saham asing, khususnya di bidang perbankan.

Jakarta, 16/5 (Roll News) - Pengamat ekonomi dari Universitas Gajah Mada (UGM), Sri Adiningsih PhD, mengatakan, Bank Indonesia (BI) sebagai otoritas moneter di Indonesia harus mengawasi penguasaan saham asing, khususnya di bidang perbankan.

Sri saat dihubungi di Jakarta, Selasa, mengatakan, BI harus memiliki kewenangan untuk mengatur dan mengawasi regulasi sehingga tetap mampu menekan dan mengendalikan kondisi ekonomi di dalam negeri.

"Asalkan kewenangan BI dalam mengawasi tidak berkurang, hal tersebut tidak menjadi masalah walaupun penguasaan kepemilikan di bidang perbankan dikendalikan asing," ujarnya.

Dengan sistem yang sekarang ini, ia menambahkan, memang memiliki kekurangan dalam segi bisnis, segi operasional dan adanya kebebasan-kebebasan dari regulasi.

"Oleh karena itu, penegakan hukum (law enforcement) harus tetap ditegakkan dan regulasi tersebut harus benar-benar dilaksanakan agar sistem ini tetap berjalan," ujarnya.

Sri juga mengatakan, selama masih ada Lembaga Penjamin Simpanan (LPS) dan lembaga perbankan menjadi anggotanya, maka simpanan milik nasabah masih dapat terjamin andaikata krisis ekonomi yang terjadi makin memburuk.

LPS sendiri terbentuk melalui UU nomor 10 tahun 1998 tentang perbankan yang mengamanatkan pembentukan suatu institusi sebagai pelaksana penjaminan dana masyarakat.

Sebelumnya, pada Senin (15/6), pengamat ekonomi dari Universitas Indonesia, Faisal Basri, mengatakan, sangat wajar banyak saham di perbankan yang dikuasai asing karena masih banyak masyarakat Indonesia yang masih ragu untuk menanamkan sahamnya di pasar saham.

"Ini terjadi karena tidak ada perlindungan, tidak ada sanksi yang tegas terhadap regulasi yang ada," ujarnya.

Ia menambahkan telah banyak kejahatan dan pelanggaran di pasar saham namun pelakunya bebas dari hukuman sehingga banyak masyarakat menjadi takut untuk menanamkan sahamnya. (sumber : FINROLLNews)

Ultra Jaya to Pay Dividends on Aug 5

StockWatch (Jakarta) - PT Ultra Jaya Milk Tbk (ULTJ) has planned to pay cash dividends of IDR5 per share for the 2008 fiscal year or totally IDR14.44 billion, the management said in an announcement today (Monday 29/6) in Jakarta.

The management said the company will pay cash dividends on August 5 to the company's shareholders who are registered by the recording date on July 24, 2009.

Cum dividend dates in regular/negotiated and cash markets on July 21 and 24, whereas ex dividend dates in the two markets on July 22 and 27, 2009.

In 2008, the company recorded net profit of IDR335.794 billion or surging 901% from IDR30.316 billion in 2007, supported by sales that climbed 20.92% at IDR1.362 trillion from IDR1.126 trillion, and other revenues that reached IDR335.794 billion. (konrad/bw)

IHSG Sesi I Turun 10,038 Poin ke 2.030,155

Monday, 29 June 2009 12:27:39
StockWatch (Jakarta) - Indeks Harga Saham Gabungan (IHSG) Bursa Efek Indonesia (BEI) pada sesi pertama, Senin (29/6) ditutup melemah 10,038 poin (0,492%) menjadi 2.030,155. Indeks LQ45 juga turun 3,028 poin (0,763%) ke level 393,788 sedangkan Jakarta Islamic Index (JII) melemah 3,50 poin (1,075%) ke 322,034, Kompas100 turun 2,907 poin (0,588%) ke level 491,840, dan Bisnis-27 turun 0,197 poin (0,111%) menjadi 186,637.

Berdasarkan data StockWatch, hingga penutupan sesi pertama perdagangan di BEI, harga saham 113 emiten melemah. Sedangkan emiten yang ditutup stagnan dan menguat masing-masing 44 dan 54 emiten. Volume saham yang ditransaksikan selama sesi pertama Senin ini mencapai 1,626 miliar unit saham senilai Rp995,799 miliar dengan frekuensi 29.127 kali transaksi.

Saham Bumi Resources (BUMI), Telkom (TLKM), Bank Mandiri (BMRI), Lippo Karawaci (LPKR), Perusahaan Gas Negara (PGAS), Timah (TINS), dan Bank Central Asia (BBCA) tercatat sebagai 10 saham paling aktif ditransaksikan selama sesi pertama Senin ini.

Saham emiten yang menempati 10 saham top loser di antaranya adalah Petrosea (PTRO) turun Rp300 (3%) ke Rp9.700, Astra Agro Lestari (AALI) turun Rp300 (1,71%) ke Rp17.200, Tambang Batubara Bukit Asam (PTBA) turun Rp250 (2,11%) ke Rp11.600, dan Telkom (TLKM) turun Rp150 (1,97% menjadi Rp7.450.

Sedangkan saham emiten yang tercatat dalam 10 saham top gainer adalah Gudang Garam (GGRM) naik Rp900 (7,73%) menjadi Rp12.550, Bank Danamon (BDMN) naik Rp150 (3,23%) ke Rp4.800, Semen Gresik (SMGR) naik Rp50 (0,96%) ke Rp5.250, dan Bank Rakyat Indonesia (BBRI) naik Rp50 (0,77%) menjadi Rp6.550. (yan)

Asahimas to Pay Dividends of IDR40 per Share

Monday, 29 June 2009 10:08:21
StockWatch (Jakarta) - Shareholders of glass manufacturer PT Asahimas Flat Glass Tbk (AMFG) have approved the management's proposal for paying dividends of IDR40 per share for the 2008 fiscal year or totally IDR17.36 billion.

Asahimas' management said in a press release, the company has allocated IDR2.75 billion for reserves, which was taken from the company's 2008 net profit of IDR228.27 billion. The rest of the 2008 net profit which is IDR208.16 billion, management said, will be withheld.

In 2008, Asahimas recorded net profit of IDR228.27 billion (IDR526 per share), rising 47.26% from IDR155.01 billion in 2007, backed by sales that moved up 17% at IDR2.235 trillion from IDR1.909 trillion. (konrad/bw)

Stock Market Indices

Stock price index is an indicator that shows the movement of the stock prices. Index is used as an indicator of market trend; it means that index movement describes market condition at one moment, whether it is active or dull.

Through the index, we can know the stock price movement trend today, is it increasing, steady, or declining. For example, if at the beginning of the month, the index is 300 and at the end of the month becomes 360, we can say that the average stock price experiences an increase of 20%.

Index movement becomes an important indicator for investors to determine if they would sell, hold, or buy one or several stocks. Because stock prices move every second and minute, index value will move ups and downs very rapidly as well.

There are 6 (six) types of indexes in the Jakarta Stock Exchange:

1. Individual index, the index that uses the price of each stock as its basic price, or index of each share listed in the JSX.
2. Sector Stock Price Index, the index that uses all stocks that included in each sector, such as finance, mining, etc. In the JSX, sector index is divided into 9 sectors: agriculture, mining, basic industry, miscellaneous industry, consumption, property, infrastructure, finance, trades and services, and manufacture.
3. Jakarta Composite Index, the index that uses all listed shares as the index’s component.
4. LQ 45 Index, the index that consists of 45 chosen stocks by considering 2 variables: trading liquidity and market capitalization. There are new stocks listed in the LQ 45 index every 6 months.
5. Jakarta Islamic Index (JII). JII is an index consists of 30 stocks that accommodate the Islamic Canon Law investment or an index that is based on Islamic Law. In other words, this index includes stocks theat fulfill the criteria of investment in Islamic Law. The stocks included in this index are stocks issued by issuers that run their business activities not in contrast with the Islamic Law, such as:

• Gambling business and any games that include gambling or prohibited trading.
• Conventional financial institution, including conventional banking and insurance.
• Businesses that produce, distribute, and trade food or drink that are prohibited by Islamic Law.
• Businesses that produce, distribute, and/or provide products and services that destroy morality and harmful.

Main Board and Development Board Indices. Stock price indices that specifically based on group of stocks listed in JSX, Main Board Group and Development Board Group.

Trading Mechanism

Before making transaction, the investor must become a customer of one security company or brokerage office. There are about 120 securities companies listed as the Exchange Members in the Jakarta Stock Exchange.

The opening document of the account encompasses complete customer’s identity (including investment targets and financial condition) and also some information regarding the kind of investment the customer will make.

The customers or investors could make selling or buying order after they have been approved as a customer in a security company. Every security company usually requires its customers to deposit a certain amount of money as a guarantee to do the transaction. The amounts of the deposit are various; for example, some security companies require their customers to deposit Rp 25 million as the gurantee fund while others ask for Rp 15 million, and so on.

Principally, there is no minimum limit of the amount of fund used to buy the shares. In stock trading, the amount of shares traded uses a trading unit called as lot. In the Jakarta Stock Exchange, one lot means 500 shares and that is the minimum limit of buying shares. The fund needed to buy them is various because the stock prices listed in exchange are also various. For instance, stock price of XYZ is Rp 1,000, so the minimum fund needed to buy a lot of share is Rp 500,000 (500 multiplied by Rp 1,000). Another illustration, if ABC’s stock price per share is Rp 2,500, the minimum fund to buy the shares is Rp 1,250,000 (500 multiplied by Rp 2,500).

In the Jakarta Stock Exchange, transactions are held on certain days called as the Exchange Days/Trading Day.

Exchange Day	Trading Session	Time
Monday to Thursday	Session I Session II	09.30 AM-12.00 PM 13.30 PM-16.00 PM
Friday	Session I Session II	09.30 AM-11.30 PM 14.00 PM-16.00 PM

Seen from the process, the sequence of share trading or other securities can be explained as follow:

1. Become a customer in a Security Company
   In this part, someone who wants to invest must become a customer or open an account in one Security Company. After officially registered as a customer, the investor can start making transactions
2. Order from customer.
   The activity of buying and selling shares is started with the instruction given by the investor to the broker. The order can be done directly, in which the investor come straightly to the brokerage company, or through means of telecommunication such as the telephone.
3. Order is sent to a Floor Trader
   Every order that comes to the broker in the brokerage company will be sent to the broker on the Trading Floor known as the Floor Trader.
4. Order is entered into the JATS
   Floor Trader will then make an entry of every order they received in the JATS computer. There are hundreds of JATS terminal in the Trading Floor to put in the customers’ orders. The orders in the JATS system will be monitored by the floor traders, brokers in the brokerage office and the investors. There should be a communication in this step between the brokers and the investors so that the buying and selling orders made by the investors can be carried out well. It is in this step also that the Floor Trader can do some changes in the order, such as changing the offering price.
5. Transaction is matched
   In this step, the orders entered in the JATS system will be matched with the suitable price, and then will be registered in the JATS system as a done transaction, which means that the buying or selling order has find the right price. The Floor Traders or the traders in the brokerage office will then inform the investors that their orders have been fulfilled.
6. Transaction settlement
   The last step of the transaction process is the transaction settlement. In this step, the investors cannot automatically receive their rights because they first have to go through several process such as clearing, transfer account, and so on until the investors’ rights is fulfilled. The investor that sells will receive the money, and the investor that buys will receive his/her shares.
   At the JSX, the settlement process takes 3 trading days. It means that if the transaction happens today (T), the rights will be received on the next three days, or known as T + 3.

Listing

Stock listed in the Indonesia Stock Exchange is classified into 2 listing boards: Main Board and Development Board. The placement of the Issuer and prospective Issuer’s Listing depends on the fulfillment of the initial listing requirements on each Board.

Main Board is intended for listed big companies that have track records, while the Development Board is intended for companies that have not yet fulfill the listing requirements of the Main Board, including prospective companies that have not produce any profits, and companies that are on the state of reorganization.

General Requirement Listing on the Jakarta Stock Exchange

Issuers can list their stocks in the Exchange if they have already fulfilled the following requirements:

1. Registration statement has been stated effective by the Bapepam
2. The issuer is not in lawsuit that could influence the existence of the company
3. Its business field is directly or indirectly not prohibited by the prevailing law of Indonesia
4. Particularly for issuers in manufacturing field, they are not in pollution problem (this is proved by the AMDAL certificate) and for issuers in forestry field must have ecolabelling certificate
5. Especially for issuer in mining field, it must have a managing license that is still valid at least for 15 years; have at least 1 Mining Authority Contract or Regional Mining License; one director with technical skill and experience in mining field; and have had a proven deposit or equivalent
6. Especially for business that needs managing license (like highway construction, forestry), it must own the license at least for 15 years.
7. Subsidiary and/or holding company of a listed company in Jakarta Stock Exchange that contribute 50% of its consolidation income to the listed company cannot be listed in the Exchange
8. Financially related requirements of the initial listing must base on the last audited annual financial report.

Criteria of Initial Listing on the Main Board

Prospective issuers will be listed for the first time in the Main Board if they have fulfilled the requirements below:

No	Criteria
1.	Have fulfilled general requirements for stock listing
2.	Until the proposal of listing, the company has been running its operational activities in the same core business for at least 36 months in sequent
3.	Have audited the last three years Financial Reports, and have received Proper Opinion Without Exception for the last 2 years audited financial report and Interim Audited Income Statement (if exists)
4.	Based on the last Audited Financial Report, the company must have at least an amount of Rp 100,000,000,000 (one hundred billion rupiah) as Net Tangible Asset
5.	The amount of shares owned by the minority shareholders after public offering is at least 100,000,000 (a hundred million) shares or 35% of paid up capital (depends on which one is smaller)
6.	The number of shareholders is at least 1.000 (a thousand) shareholders, who already have accounts in one of the Exchange Memberss, with the provisions below: For issuer that performs public offering, the number of its shareholders is the number of shareholders after the initial public offering. For issuer that comes from a public company, the number of its shareholders is the last number of shareholders at least 1 month before proposing the listing application. For issuer listed in another Bourse, the number of its shareholders is counted based on the average of the last six months.

Criteria of Initial Listing on the Development Board

No	Criteria
1.	Have fulfilled general requirements for stock listing
2.	Until the proposal of listing, the company has been running its operational activities in the same core business for at least 12 months in sequent
3.	Until the proposal of listing, the company has been running its operational activities in the same core business for at least 12 months in sequent
4.	Have net tangible assets of at least Rp 5,000,000,000 (five billions Rupiah)
5.	If issuer experiences operating loss or does not produce any profit yet or operates less than 2 years, it is obligated to: achieve profit and net income on the end of the second book year based on the financial projection announced in the Exchange. Especially for issuer, whose field of business needs longer time to reach break event point (such as infrastructures, agricultures of hard plants, Forest Managing Right concession or Industry Plan Forestry or others business field related to public services) shoul achieve profit and net income at least at the end of the sixth year since the listing
6.	The amount of shares owned by the minority shareholders after public offering of five days before the listing proposal (for public company which shares have not been listed) is at least 50,000,000 (fifty million) shares or 35% of paid up capital (depends on which one is smaller)
7.	The number of shareholders is at least 500 (five hundred) shareholders, who already have accounts in one of the Exchange Members, with the provisions below: For issuer that performs public offering, the number of its shareholders is the number of shareholders after the initial public offering For issuer that comes from a public company, the number of its shareholders is the last number of shareholders at least 1 month before proposing the listing application For issuer listed in another Bourse, the number of its shareholders is counted based on the average of the last six months
8.	Especially for issuer who is going tohold an IPO, the Underwriter has to use the principle of full commitment

Process of Going Public

Companies have many alternatives of financing source, internal or external. Alternative internal financing generally comes from the retained earning, while external financing can come from creditors in form of debt, other forms of funding or by issuing debenture papers, and even financing by participating in stock (equity). Financing by participation mechanism is usually done by selling company’s stocks to the public or often known as going public.

To go public, companies have to make internal and documents preparation in accordance to the requirements needed for going public, and fulfill all the requirements stated by the Bapepam. Public offering or go public is the activity of stock or other marketable securities offering by an issuer (going public firm) to the public based on the procedures arranged in the Capital Market Law and its Implementation Rules.

Public offering accommodates these activities:

• Primary Market Period, when stocks are offered to investors by underwriter through selected Selling Agent;
• Shares subscriptions, the allocation of investors’ securities order according to the available amount of securities.
• Stock allotment at the Exchange, when stocks are traded in the Exchange.

Stocks public offering procedures can be categorized into these 4 steps:

1. Preparation Step
   In this step, the company has to prepare everything needed the public offering process. First, the company, who will issue the stocks, holds Shareholder General Meeting and asks the approval from shareholders. After the approval, the issuer will appoint the underwriter, market institutions and supporting professions that consists of:

• Underwriter. Underwriter is the party who has the most involvement in assisting the issuer to go public. Underwriter’ has to prepare all the documents, prospectus, and giving the guarantee of the issuing process.
• Public accountant (Independent Auditor). Public accountant is responsible to audit or check the income statement of the issuer.
• Appraisal Company for appraising the fixed assets owned by company and accounting proper value of the fixed assets.
• Law consultant for giving legal opinion.
• Notary for making amendments of the company’s basic budget and various agreement underlying the public offering, and notes of meeting.

2. Registration-Statement Submitting Step
   In this step, the company will complete the registration by giving supporting documentations to the Bapepam until the Bapepam states that the Registration Statement is effective.
3. Shares Offering
   In this step, the issuer offers its stock to the investors’ society. Investors can buy the shares through their appointed selling agents. Offering period is usually about three trading days. Worth to notice, that not all of the investors’ desires are fulfilled in this level. For instance, 100 million shares are released in the market, while the amount of shares that the investors want to buy is 150 million shares. If the investors could not get the shares at the primary market, they can buy it in secondary market after the stock is listed in exchange.
4. Shares Listing in the Exchange
   After selling the shares in primary market, the stocks are listed in the Exchange. In Indonesia, the stocks could be listed in the Indonesia Stock Exchange (IDX), Surabaya Stock Exchange, or even in both exchanges.

Equity

Stock (Share) is one of the most popular securities available. If a company wants to raise capital, one of its options is to issue stock. Stock also offers interesting return rate for its investors. That is why most investors choose stock for their investment.

Stock can be defined as a sign of ownership of an individual or institution in a corporation. The person or institution who owns the stock can claim on the company's earnings, assets, and rights to attend its General Meeting of Shareholders.

Basically, there are two benefits for stock investors:

1. Dividend
Dividend is the earning given to the company's shareholders from the company's income. The amount of dividend paid to the shareholders is decided in the Company's Annual General Meeting. To receive dividend, a buyer of a stock must own the stock for a relatively long period until it passes its ex-dividend date, where he/she will be acknowledged as the shareholder who has the right to obtain the dividend.

2. Capital Gain
Capital gain is the positive different between the purchase price and the selling price of a stock. Capital gain is formed through the stock trading activities in the secondary market. For example, an investor bought ABC’s stock for Rp 3,000 per share and then sold it for Rp 3,500 per share. It means the investor receive capital gain of Rp 500 for every sold share.

However, like other instruments of investment, stock has its own risks:

1. Capital Loss
It is the reverse of Capital Gain. It is a condition when the stock is sold for a price that is lower than its original purchase price. For instance, an investor bought the stock of PT XYZ for Rp 2,000 per share, but aftermath the stock price fell to the level of Rp 1,400 per share. Afraid of continuous declines, the investor sells the shares for Rp 1,400 per share. The investor has retained a capital loss of Rp 600 per share.

2. Liquidity Risk
A Company, whose shares are owned by public, is stated for bankruptcy by the Court or is being dismissed. In this case, the claim of the shareholders' rights will get the last priority after all the company’s liabilities have been settled (through the selling the company’s assets). The rest of the company’s wealth, if exist, will be distributed proportionally to the shareholders. However, if there is no rest left, the shareholders will not receive anything. This is the worst condition a shareholder might go through. Thus, a shareholder needs to monitor every development happens in the company.

In the secondary market or daily stock trading, stock price fluctuates. Stock price is formed by the demand and supply of the stock, while the supply and demand of a stock are influenced by many factors, such as the company and industry’s performance, the macro factors (interest rate, inflation, currency rate), the non-economical factors (social and political conditions), and so on.

Introduction To Capital Market

Capital Market is the market in which long term financial instruments, such as bonds, equities, mutual funds and derivative instruments, are traded. Capital Market serves as an alternative for a company's capital resources and public investment. It also facilitates the infrastructures needed for the seling and buying process and other related activities.

Financial instruments traded in the Capital Market are long term securities (a period of more than 1 year). They consists of stocks, bonds, warrants, rights, mutual funds, and other derivative instruments (options, futures, etc.).

Capital Market Law Number 8 Year 1995 defines Capital Market as “the activity of trading and offering securities to the public, the activity of a public company with respect to securities it has issued, and the activities of securities-related institutions and professions.”

Capital Market plays an important role in the economy of a country because it serves two functions all at once. First, Capital Market serves as an alternative for a company's capital resources. The capital gained from the public offering can be used for the company's business development, expansion, and so on. Second, Capital Market serves as an alternative for public investment. People could invest their money according to their preferred returns and risk characteristics of each instrument.

IHSG Diprediksi Mixed di 2.005-2.045 Minggu Ini

Monday, 29 June 2009 09:43:05
StockWatch (Jakarta) - Indeks Harga Saham Gabungan (IHSG) Bursa Efek Indonesia (BEI) diperkirakan mixed di kisaran 2.005-2.045 pada perdagangan minggu ini (29 Juni-3 Juli 2009). Demikian disampaikan oleh Ratna Lim, analis PT Mega Capital Indonesia di Jakarta.

Pasar akan menunggu data inflasi bulan Juni 2009 yang akan diumumkan oleh Badan Pusat Satistik (BPS) pada Rabu (1/7). "Inflasi Juni diperkirakan 0,2% sedangkan BI Rate kemungkinan diturunkan kembali menjadi 6,75%," katanya.

Saham-saham yang diperkirakan Ratna akan ramai ditransaksikan pada minggu ini di antaranya Aneka Tambang (ANTM), Tambang Batubara Bukit Asam (PTBA), Perusahaan Gas Negara (PGAS), dan Indofood Sukses Makmur (INDF).

Ikhsan Binarto, analis PT Optima Securities menyatakan, IHSG akan sideways di kisaran 2.020-2.060. IHSG pada Jumat (26/6) ditutup melemah 3,978 poin (0,195%) menjadi 2.040,193. Saham sektor perbankan dan keuangan mengalami penurunan terbesar masing-masing 2,033% dan 1,656%.

Menurut Ikhsan, private placement saham Bank Central Asia (BBCA) di bawah harga pasar memberikan pengaruh yang negaitf ke sektor perbankan pada minggu lalu. Harga BBCA jatuh Rp275 (7,19%) ke Rp3.550 per unit pada Jumat (26/6). BBCA yang menempati posisi 10 saham top aktif mencatat nilai transaksi Rp241,289 miliar. (yan)

Trikomsel, Acer to Coop in Selling Mini Computers

Monday, 29 June 2009 09:41:43
StockWatch (Jakarta) - PT Trikomsel Oke Tbk (TRIO) has planned to cooperate with international computer manufacturer, Acer, in selling mini computers (netbooks) starting the third quarter of 2009, the company's president Sugiono Wiyono said.

"We see a high interest in mini computers, so we have decided to team up with Acer in marketing the products, in tandem with the company's vision to become a leader in telecomunication and multimedia products and service," he said in a press conference on Friday (26/6) in Jakarta.

He said Indonesia still has a wide market for mini computers so the company is optimistic it will be able to sell a fairly large number of such computers. "We expect the mini computers to contribute approximately 10% of the company's consolidated sales in 2010," he said.

Besides, the company has started to expand the business abroad by founding a company named Trikomsel Private Limited in Singapore which will sell the company's products in foreign countries mainly Southeast Asia. "The company has begun operation since the first quarter of 2009 and the result has been fairly good," he said, and added that Singapore has a more competitive handphone market.

He said that currently the company has 808 OkeShop stores in di 145 cities of Indonesia with a distribution network that consists of 11,000 independent retail sellers. Going forward, the company will open new distribution channels through Oke.Com besides the existing OkeShop, he added. (konrad/bw)

ANALISA TEHNICAL HARI INI

Dow Jones Turun 34,01 Poin ke 8.438,39

Monday, 29 June 2009 08:53:01
StockWatch (Jakarta) - Indeks Dow Jones Industrial Averages (DJIA), Jumat (26/6) ditutup melemah 34,01 poin (0,40%) menjadi 8.438,39 dipicu oleh koreksi harga saham sektor energi yaitu Chevron dan Exxon Mobil seiring penurunan harga minyak mentah menjadi US$69,06 per barel.

Indeks Standard & Poors 500 (S&P500) juga turun 1,36 poin (0,15%) menjadi 918,90. Sedangkan Nasdaq Composite Index (NCI) menguat 8,68 poin (0,47%) menjadi 1.838,22 didorong oleh kenaikan harga saham Palm Inc.

Indeks harga saham di bursa Asia seperti Nikkei 225 di Jepang dan Kospi, Korea Selatan pada awal perdagangan Senin (29/6) menguat. Indeks Nikkei 225 hingga pukul 09:31 waktu setempat naik 45,92 poin (0,46%) menjadi 9.923,31. Di Korea Selatan, indeks Kospi hingga pukul 09:32 waktu setempat naik 13,27 poin (0,95%) menjadi 1.407,80. Indeks All Ordinaries, Australia hingga pukul 10:33 waktu setempat naik 0,70 poin (0,02%) menjadi 3.900,20. (yan)

Jaya Pari Steel Expects Sales to Drop 42%

Monday, 29 June 2009 08:31:06
StockWatch (Jakarta) - The management of PT Jaya Pari Steel Tbk (JPRS) expects sales of IDR425 billion in 2009, falling by 42% from IDR733 billion in 2008, the company's director Hadi Sutjipto said.

He said in a report to the IDX, global financial crisis caused steel prices to fall 70% in the global market, so the company's sales dropped 88% in the period of January-April 2009 at IDR74 billion versus IDR411 billion in the same period of 2008.

Even the prices continued fall until the fourth month of 2009 as an impact of the crisis that started in the fourth quarter of 2008, he said. But he expects the prices to rebound in the second half of 2009 since the domestic demand has begun to recover. He said the management is optimistic the company will book IDR425-billion sales in 2009 supported by property development which is expected to recover during that period.

In 2008, the company recorded sales of IDR733 billion, climbing 69% from IDR433 billion in 2007, as prices of steel plates stepped up by an average of 73%. (konrad/bw)

Mitra Adiperkasa's Sales Predicted to Rise 20%

Monday, 29 June 2009 07:59:09

StockWatch (Jakarta) - Retail company PT Mitra Adiperkasa Tbk (MAPI) is predicted to book sales of IDR3.99-4.16 trillion in 2009 or rising 15-20% from IDR3.47 trillion in 2008, the company's finance director Susiana Latif said.

"We are also confident that we will have a positive bottom line this year after suffering a negative net profit last year because of IDR331.05-billion net loss due to unrealized accident - not operating loss," he said in a public expose on Friday (26/6) in Jakarta.

She said the company recorded sales of IDR1.26 trillion in the period of January-March 2009 or approximately 30-32% of this year's target, with net profit of IDR19 billion or rising sharply 662% versus IDR2.50 billion in the same period of 2008. (abr/bd)