One evening, back into June 2016, I and Sucorinvest Asset Management Investment Team went to a japanese restaurant at Senopati to meet with some friends from brokerage company. They invited us for a dinner and also to gave us a market update. As usual, the “chit-chat” went smooth and well, until suddenly one of their institutional sales asked me.
“Hey Bil, Sucorinvest’s equity mutual funds are performing so well this year, you guys sitting on the top of the table, what stocks that you closely watching now ?”
Not wasting many time, I answered shortly, “Yes, we are looking at Ramayana Lestari Sentosa shares (RALS.JK / RALS.IJ) since late May”
Her pupil dilated, she looks either amazed or shocked and said “ooooh, Ramayana ?”
ON THIS RESEARCH
We try to find out whether RALS.JK / RALS.IJ (Ramayana Lestari Sentosa) recent improvement is the real turnaround story and no longer a false hope that they used to be in the past 10 years
Just in a second after that, their head of research asked me.
“ Ramayana ya, Hmmmm, (he paused for a seconds), are you sure ? is there any something good about the company ? I am not sure with Ramayana.”
I answered again…“Yes we are sure, the new management is currently preparing new strategy to turnaround the company this year.”
“Hmmmm I know about their plan”
Their head of research seems still not convinced with my argument. He then continued.
“You need to be careful, this company already “promised” many turnaround stories, not only this time. They always looks like they gonna have a turnaround each year, but in the end always make investors and analyst disappointed.”
After heard their opinions, only one thing flashed on my mind.
“ I either found a hidden and beautiful gem or I was drunk.“