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

To: tonto who wrote (511)	5/13/1998 7:44:00 AM
From: tom	Read Replies (2) \| Respond to of 947

I think that there is a very good chance that Suharto won't come back from Egypt. Trying to predict life in Indonesia after its leader of more than 30 years is ousted is kinda tricky. My guess is that if he goes then Indo will rally sharply at first and then settle down as people think about the consequences. I've just seen on Reuters that Suharto is to cut short his Egyptian trip so I may have been proved wrong already! My gut feel is that people will start to buy TLK at around these levels regardless of fundamentals. If you look at the chart of the Rupiah and TLK in January then TLK went up even when the currency collapsed to 16,000. This leads me to believe that it is unlikely to fall much further even if things in Indonesia get much worse. Having said that I really don't like the stock and don't think its worth much more than US$2. To be honest my philosophy with TLK and Indonesia in general has been that there is so much risk (political, foreign debt, no one knows what the currency/earnings/interest rates/GDP growth will be in 3 months-2 years time) that you shouldn't touch it. The fact that it has fallen a lot and everyone is scared of it is a good reason for buying it but it is not a sufficient reason for buying it. Hong Kong, Singapore and even Malaysia I could make a buying case for but Indonesia I can't.