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

To: Keith Monahan who wrote (307)	2/11/1998 11:56:00 AM
From: tom	Respond to of 947

Good timing on the purchase! People bought IIT with the belief that it would be protected from the currency fall due to the fact that some of its revenues are in the form of US$ (I think I've written about this before somewhere on this thread). It rallied as people saw it as a safe haven in a volatile market but alot of that rally happened when the Rupiah was falling so I don't think that it is a great way to play a recovery in the currency. I feel that it is not going to trade much higher than US$20 (if the Rp is fixed at 5000 then the local stock price should be around 10000 which implies an ADR price of $20) on valuation grounds. I don't think it is that exciting as an investment opportunity but its not too dangerous. Hope that's of help Tom