Rupiah slide exposes equity losers among winners
Companies that import raw materials and have local sales will be hurt, say analysts
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Jakarta
INDONESIAN companies with high levels of dollar debt and importers of raw materials are most vulnerable after the rupiah plunged to a 16-year low, while some exporters stand to benefit.
Mobile-phone company PT Indosat and developers such as PT Alam Sutera Realty that have high foreign-debt levels will face earnings pressure, as will importers such as animal feed maker PT Charoen Pokphand Indonesia that are dependent on local sales, according to Jakarta-based PT Reliance Securities and Sucorinvest Asset Management. Winners include garment exporter PT Pan Brothers and gas distributor PT Perusahaan Gas Negara.
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