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 9:30 AM EST

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To: Jyoti sharma who wrote (242)	2/4/1998 10:02:00 AM
From: Rational	Read Replies (1) of 947

Jyoti: You may have noticed a very nice pattern in TLK price movements lately. The NYSE price (more or less) leads the way for Jakarta quotes. This cycle will break as soon as the Rp price of Telekom stabilizes, which will be in the range of 4000 - 5000 Rp per share, IMO. Then the exchange rate will drive the NYSE price up. If, e.g., Rp 4425 is the right Jakarta price (assuming no news hereafter for Telekom), then the correct price today should be $9.3. But, we may not see this because of the exchange rate volatility. Eventually, however, as the exchange rate stabilizes, we will see an immediate adjustment. If the exchange rate stabilizes at 5500 Rp/USD, then the TLK price will be $16 per TLK ADR. I think the government will announce measures of liberalization for Telekom and make it run more efficiently to generate higher earnings because this stock is the leader in the Jakarta index and how well the index does is a measure of the governmental changes which Suharto wants to implement desperately, IMO. Sankar

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