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Technology Stocks : INDONESIA'S PT TELECOM(TLK) -- Ignore unavailable to you. Want to Upgrade?

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



To: Jyoti sharma who wrote (242)2/4/1998 1:15:00 PM
From: tom  Read Replies (1) | Respond to of 947
 
If you do not think that the industry is going to be liberalised then there is no need for the government to raise tariffs to the level where TLK will make a reasonable return on its capital. As I said before, Indo already has enough lines to last it some time and as long as it doesn't go bankrupt then the government doesn't care if it is unprofitable.


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