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Technology Stocks : INDONESIA'S PT TELECOM(TLK)
TLK 19.78-2.5%11:20 AM EST
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To: williet who wrote (485)4/24/1998 9:36:00 AM
From: cody andre  Read Replies (1) of 947
 
TLK has not been a stellar performer of late. Granted, many money managers are shell-shocked from the events over the last year, IMF and the rest of the gang (including Suharto's) have bungled things ...

On the more positive side, it is in the interest of the US and Japan to help stabilize South-East Asia and, Indonesia and Malaysia in particular because:
1. They control the sea lanes between the Pacific and Indian Oceans
2. Separate China and India from a geopolitical viewpoint
3. They are the largest Moslem entities in the world; cannot afford accusations of anti-Moslem policies, etc.
4. TLK has a penetration rate of 2% or so; when growth resumes, the initial telecom growth rate will be much higher than average and money managers will flock back into it with a vengeance.

From a macroeconomic perspective, LDC govts. have to promote long-term DIRECT investment instead of "hot money" portfolio investment.WB & IMF are too stupid to realize that ... after all, they just represent the interests of several very large financial groups.

One of my few investment regrets is that I did not keep several thousands of Philippine Telephone (PHI) I had bought in Feb. '86 when Marcos was overthrown (pre-splits price of 2 5/8 ???) // CA

P.S. See the latest issue of Worth Magazine's article on Asia. Good piece.

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