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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: tom who wrote (244)2/4/1998 1:54:00 PM
From: Jyoti sharma  Read Replies (1) of 947
 
Tom,

It's not a question of if Indonesia will liberalize but when. Since last five years almost all the developing countries are trying to open up their telecom markets to competition. They are all convinced now that this is the only way to foster telecom density growth and improve their economy. Indonesia is also trying to do the same thing in a small way. Without getting into lengthy discussion about their efforts, it's important to remember Indonesia is still a very corrupt country. All the new service providers have links Suharto's children with financing coming mainly from Singapore and Hong Kong. I think it's going to slow down.

I agree with you about govt not caring if TLK is profitable. But due to govt ownership, it can't go bankrupt. TLK as I have stated before you have to buy as a proxy for Indonesian market and not on it's own fundamentals. If things return back to normal, the stock will easily double otherwise it will go down. My own gut feel is that worst is over in Indoensia. I could be wrong and have made many incorrect calls before.

Tom, I am a telecom consultant and have a little better understanding than an average person of the telecom market place. Based on fundamentals it's possible to make a very cogent case in favour of TLK at these prices. However IMHO it's not important. TLK will trade on the news not on it's own fundamentals.

Best wishes and regards.

Jyoti
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