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Report Publish : December 23, 2009
Reasons for report : Company update
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AKR Corporindo Tbk
(BUY - Rp1.070)
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Tittle : Inline with Expectation
Analyst : Steve Matuari |
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- 9M09 result is inline with our estimate.
- Decline in top line is primarily caused by significant fall in revenue from petroleum business.
- Strong rebound in volume deserves to be praised.
- In Sep09, IDR was recorded as much as Rp9,681/US$. Meanwhile, we adopt year end USD/IDR assumption of Rp9,535.
- Company plans to hold a right issue in 1Q10.
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