Feb 28, 2011

When BCA outstrips Telkom

PT Bank Central Asia Tbk (BBCA) today finally outstripped market capitalization of PT Telekomunikasi Indonesia Tbk (Telkom), dragging down Telkom to the third largest companies at Indonesia Stock Exchange (IDX).
After beating Telkom, BCA is today becoming publicly listed bank with the largest market capitalization of Rp155.33 trillion, sending the bank to the second position after PT Astra International Tbk (ASII) as the company with the largest market capitalization of Rp210.72 trillion.
Astra has weighting of 7.18%, followed by BCA with 5.24% weighting.
Telkom, the third largest company with market capitalization of Rp150.19 trillion, has 5.11% weighting at IDX. PT Bank Mandiri Tbk (BMRI), the fourth largest, has 4.56% weighting with market capitalization of Rp135.33 trillion, followed by PT Unilever Indonesia Tbk (UNVR) with Rp123.61 trillion or 4.21% weighting.
Jeffrosenberg Tan, Head of Research PT Sinar Mas Sekuritas, said banking sector has been growing faster than telecommunication industry.
"Telecommunication sector is very tight. I think BCA's new position may keep sustaining," he said.
If Telkom is still depending on current business without any innovative products, sooner or later, Bank Mandiri will surpass Telkom.

Disclosure: No position at the stock mentioned above.  

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