P H
May 07, 2016 13:19:54
Telekomunikasi Indonesia (TLKM), Strong Ex-Java Signals

Telekomunikasi Indonesia (Telkom) remains our Top Pick for exposure to the ASEAN-4/Indonesian telco sector on account of:
1. The continuing strong growth trajectory at Telkomsel where coverage/network quality remains unsurpassed outside of Java;
2. The new interconnect rates should have a neutral/minimal impact;
3. The group’s strong balance sheet, superior ROEs and class-leading dividend payout for a state-owned enterprise.
Our DCF TP of IDR4,000 (16% upside) is unchanged post the results call.

$TLKM

hide
Handle
N/A
Handle