Rupiah Currency shrink
Currency rate of
rupiah shrank from about 12,000 / USD in to about 13,000/USD in the early of march of
2015. It is negative indicator for
Indonesia as a country which still needs import to produce goods and service.
As the result of that, The Loan with dollar currency of local corporate has
increased significantly.
Decrease of BI rate in February 2015 and strengthen economy of US may increase demand of US currency, in other word, oversea investor sold their investment in capital market and buy dollar with rupiah in the money market. As the result of that, rupiah slumped to usd dollar.
Export sector has not been increased yet as the shrink of commodities
price. Increase in export will be expected improve rupiah currency rate to USD.
If the fed raises its fund rate in second quarter of recent year, the currency
rate exchange will be worst.
Key person from Central bank said that corporate in Indonesia can bear the decline of rupiah currency rate to US dollar as long as rupiah under approximately 15,000 / USD. In some interview, he said that the stress test of us currency loans of such corporations has shown that result and there is nothing to be worried. The companies would still be able to be sustained at that rate.
In conclusion, if rupiah will slump at under 15,000 / USD there may be
many corporations face a possibility on bankruptcy. Especially corporation with
high leverage, low margin and huge USD loan, will need to be monitor its
performance. It is not only rupiah currency which shrinks; the other currencies
are also hampered to US dollar such as Malaysian ringgit, rupee and etc.
Meanwhile, the stock market continues to grow in bigger size event the rupiah currency shrinks at same period. The worst case the growth of the stock market is only used for speculative investment to make profit in short time.
Social donation for Indonesia
United state has several donations to increase Indonesian’s welfare and
prosperity. According to local news, millennium challenge corporation was
giving social donation amounting to USD 600 million dollar for certain programs
such as improve food quality, increase quality of human resource and renewable
energy program.
Bank Rakyat Indonesia has been appointed to distribute the donation to suitable person who need this donation. Many people proposed the fund and got cash to improve their quality of life.
AKR CORPORINDO
The company is operating in various businesses such as trading & distribution (gasoline and basic chemical), infrastructure for logistic, manufacturing and mining (coal).
The key driver of the revenue growth is in trading and distribution
segment which is at 93 % of total revenue. In 2014 the company started new
business in industrial estate segment. The company sells basic chemical and
gasoline as its product in this segment.
As the government cut fuel subsidy the company will be having more opportunities to expand its business segment in gasoline station. It coincides with the infrastructure project master plan which plan to be started in the second semester of 2015.
The company has many
facilities of ports, gasoline stations and industrial estate which were under
construction.
In the future the company may improve its profit margin as it starts in developing industrial estate for corporate client.
The following data is
taken from Reuters:
Growth Rates |
||||
Company
|
industry
|
sector
|
||
Sales (MRQ) vs Qtr. 1 Yr. Ago
|
3.18
|
-4.7
|
-1.48
|
|
Sales (TTM) vs TTM 1 Yr. Ago
|
7.5
|
3.97
|
26.57
|
|
Sales - 5 Yr. Growth Rate
|
18.71
|
17.54
|
12.25
|
|
EPS (MRQ) vs Qtr. 1 Yr. Ago
|
15.72
|
-415.31
|
-97.45
|
|
EPS (TTM) vs TTM 1 Yr. Ago
|
1.01
|
--
|
--
|
|
EPS - 5 Yr. Growth Rate
|
21.2
|
15.16
|
4.59
|
|
Capital Spending - 5 Yr. Growth
Rate
|
-2.76
|
5.11
|
15.42
|
|
Profitability
Ratios
|
||||
Company
|
industry
|
sector
|
||
Gross Margin (TTM)
|
7.04
|
11.27
|
26.5
|
|
Gross Margin - 5 Yr. Avg.
|
6.38
|
10.24
|
33.07
|
|
EBITD Margin (TTM)
|
5.31
|
--
|
--
|
|
EBITD - 5 Yr. Avg
|
5.12
|
6.76
|
26.7
|
|
Operating Margin (TTM)
|
4.08
|
4.11
|
12.72
|
|
Operating Margin - 5 Yr. Avg.
|
3.85
|
4
|
19.08
|
|
Pre-Tax Margin (TTM)
|
3.65
|
4.3
|
12.21
|
|
Pre-Tax Margin - 5 Yr. Avg.
|
3.72
|
4.34
|
18.37
|
|
Net Profit Margin (TTM)
|
2.92
|
3.27
|
6.94
|
|
Net Profit Margin - 5 Yr. Avg.
|
2.95
|
3.16
|
11.12
|
|
Effective Tax Rate (TTM)
|
19.9
|
20.61
|
32.44
|
|
Effective Tax Rate - 5 Yr. Avg.
|
20.56
|
22.19
|
46.71
|
|
Efficiency
|
||||
Company
|
industry
|
sector
|
||
Revenue/Employee (TTM)
|
9,329,595,392
|
4,621,805,541
|
3,470,274,190
|
|
Net Income/Employee (TTM)
|
272,563,392
|
134,251,436
|
209,270,646
|
|
Receivable Turnover (TTM)
|
5.21
|
4.64
|
7.75
|
|
Inventory Turnover (TTM)
|
13.64
|
8.6
|
11.5
|
|
Asset Turnover (TTM)
|
1.56
|
1.05
|
0.77
|
|
No comments:
Post a Comment