INDONESIA'S PT TELECOM(TLK) Message Board

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Technology Stocks : INDONESIA'S PT TELECOM(TLK)

TLK 20.93

-0.9%

Nov 21 3:59 PM EST

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To: Jyoti sharma who wrote (218)	2/3/1998 1:54:00 PM
From: Rational	Read Replies (1) of 947

Jyoti: I agree with your assessment on the replacement value idea. At times, I was thinking that the Jakarta market participants could be simply stupid and bid down TLK; but, to the contrary, they (mostly from Singapore and HK) kept up buying Telekom because it is a real asset with a real value. In a globalized telecom industry, TLK will play an important role in the 4th largest country. I think today's heavy discount is related to Antara news releases in which Suharto does not want to name a VP (although he said that he did not set the criteria that pointed to Habbie as a cndidate) and he thinks Indonesia is lagging behind other countries in Aerospace which is Habbie's filed. Suharto may seem to be bidding up for supporting Habbie. He is at the same time stressing in these news clips that he would do everything necessary to bolster the confidence of finance markets. Given the dramatically better economic policies sponsored by IMF and active BI intervention, Rp has been holding steady. Will it hold steady tomorrow? Will Telekom remain at its current level in Jakarta? The ADR is 15% less than the exchanged value at Jakarta. I have seen many big buy orders today; but there are numerous small to moderate sell orders too. Is $8.75 a good price for a stock that at the current exchange rates should be 9.8? What do you think? The difference is slightly less than the bid-ask difference for Rp! Sankar

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