STOCKS NEWS INDONESIA-XL Axiata gains on earnings

Fri Feb 1, 2013 4:24am EST

Shares in Indonesian telecom provider PT XL Axiata rose 6 percent on Friday after the company announced its full-year 2012 results.

Indonesia's third largest telecommunication firm said revenue grew 15 percent to 21.3 trillion rupiah ($2.19 billion). Net profit was at 2.8 trillion rupiah.

"The strong data traction reflects the huge opportunity in data and XL is well positioned to capture future growth. Data is the fastest growing segment with an increased contribution from 15 percent in 2011 to 20 percent in 2012 and usage more than doubled," the Indonesian unit of Malaysia's Axiata Group Berhad said.

XL Axiata shares closed at 5,300 rupiah on Friday, while the broader Jakarta Composite Index was up 0.63 percent at 4481.63.

1619 (0819 GMT)

(Reporting by Andjarsari Paramaditha; Editing by Jijo Jacob) **************************************************************** 15:01 STOCKS NEWS INDONESIA-Banking stocks rally, led by Bank Negara Indonesia The Jakarta finance index rose 2.69 percent on Friday, leading the broader Jakarta Composite Index which was up 1.2 percent.

Shares in Indonesia's largest bank PT Bank Negara Indonesia soared as much as 10.19 percent to 4,325 rupiah, followed by state-owned peers Bank Mandiri and Bank Rakyat Indonesia which jumped as much as 4.94 percent and 2.52 percent respectively.

"As of November 2012, Bank Negara Indonesia's earnings only reached 6.5 trillion rupiah, while annualised earning could reach around 7.1 trillion or 6 percent above consensus' full-year 2012 estimate of 6.7 trillion," said Robby Hafil, a Jakarta-based banking analyst at Trimegah Securities.

On valuation, the bank is traded at 1.9x profit to book value (PBV), cheaper compared to other big banks which average at 3x PBV. Furthermore, BBNI's stock performance has underperformed compared to the Jakarta financial index, he said.

A day before, Bank Rakyat Indonesia announced its full-year 2012 earnings after Moody's Investors Service said that Indonesian banking system outlook will remain stable for the next 12-18 months, based on a conducive operating environment which is supportive for asset quality and profits.

1436 (0736 GMT)

(Reporting by Andjarsari Paramaditha; Editing by G.Ram Mohan) *************************************************************** * 11:18 STOCKS NEWS INDONESIA-Bank Rakyat Indonesia rises on earnings result Shares in the world's biggest microlender PT Bank Rakyat Indonesia rose 1.89 percent on Friday, a day after the company announced its full-year 2012 results. Indonesia's second-largest lender by assets said net profit was 18.52 trillion rupiah ($1.90 billion), up 22.8 percent from 15.08 trillion rupiah in the previous year. Loan growth was 22.8 percent, up 14.8 percent, and on par with the industry average of above 20 percent. "BRI's share price is up strongly during the first month of the year on the back of widely anticipated recovery in 4Q12 loan growth. However given the growth was in lower yielding segments, we see little cause for elation...we see better risk-return in Bank Central Asia or Bank Mandiri which have rising NIMs and stable/rising ROEs," CLSA analyst Jayden Vantarakis said in a note on Friday. Bank Rakyat Indonesia's shares were traded at 8,100 rupiah, while the broader Jakarta Composite Index was up 1.2 percent. 1111 (0411 GMT) (Reporting by Andjarsari Paramaditha; Editing by Jijo Jacob) *************************************************************** * 11:11 RTRS-STOCKS NEWS INDONESIA-CIMB upgrades Media Nusantara to 'outperform' CIMB Equity Research upgraded its rating on Indonesian television channel operator PT Media Nusantara Citra Tbk to 'outperform' from 'neutral', citing a substantial increase in dividend payout, better-than-expected margins and the buyout of the remaining 25 percent stake in MNC TV. "Our optimistic view is based on three factors: higher competition in consumer products is likely to fuel growth in ad spend, additional revenue from political campaigns which may start as early as June 2013, and low ad spend in the region," CIMB analyst Irenne Achmad said in a note on Friday. The research house also raised Media Nusantara's target price to 3,350 rupiah from 3,300 rupiah, saying the company will continue to ride on the media sector's strong earnings growth momentum which will limits near-term downside risks for its earnings. "Sector tailwinds aside, MNCN is forecasting an earnings growth of 20 percent on the back of 18 percent growth in advertising revenue and slight margin expansion," the note said. The media firm's shares were down 1.05 percent at 2,350 rupiah, while the broader index was up 1.21 percent. 1056 (0356 GMT) ($1 = 9,740 rupiah) (Reporting by Andjarsari Paramaditha, Editing by Sunil Nair)