panin asset management di i vi s on of f p t pa a ni n se e kur r tbk indonesia capital market review january 2005 tabl l cont ent macro analysis x optimism abound but structural obstacles remain 1 global insight now that china has come to soft landing will it take off this year 7 fixed income analysi 9 iii equity 14 research agriculture lsip ready bloom 16 2 automotive asii driving bumpy road 17 3 banking bca safe player 18 bmri undervalued 19 4 cement smgr beneficial circumstance 20 5 consumer goods unvr drowned in recession 21 6 mining antm playing the quantity game 22 inco showing no sign rust 23 bumi high prices keeping afloat 24 ptba losing steam 25 pharmaceuticals klbf under right prescription 26 8 property smra crowded and profitable 27 retail rals slower growth 28 10 telecommunication tlkm more cats sharing cookie 29 isat competing for bigger share 30 11 tobacco hmsp
