Indonesia Market Today - 10 September 2020

A. INDONESIA MORNING MARKET REVIEW

Thursday (10/09/2020). Trading this Thursday there will be a battle between the positive factors for the DJIA rebound of + 1.60% accompanied by rebounding several commodity prices, such as: Coal + 2.17%, Oil + 2.55% and Gold + 0.84%, contra (vs) negative factors, namely the re-enactment of PSBB in DKI Jakarta on Monday, September 14, 2020, like the beginning of the occurrence of Covid19 due to an increase in people affected by Covid19 and it is feared that they could not be accommodated at the Covid19 referral hospital amidst the attainment of the highest number of victims who were infected and died due to Corvid19, where on Wednesday there was an increase of around +3,307 people (up + 1.65% and if the pattern of infection is still like this then * it is estimated that there will be 500,000 people infected with Covid in December 2020 *) infected with Corvid * so that so far the victims infected with Corvid19 have reached 203,342 people with an additional death toll on Wednesday as many as +106 people (increase + 1.29%) so that so far the death toll has reached 8,336 people, up to 10,000 people died in the near future (Fatality Rate of 4.10%) *.

Anies Pulls DKI Emergency Brake, PSBB Will Return Like the Beginning of Corona!

In a meeting to accelerate the control of Covid-19 in Jakarta Wednesday afternoon, Anies concluded that Jakarta would draw an emergency brake. "Which means that we are forced to re-implement the PSBB as in the early days of the pandemic, no longer a transitional PSBB but we must carry out the PSBB as it was in the early days,".

The number of cases is booming, ARSSI said there will be additional private hospitals to treat Covid-19 patients.

The Secretary General of the Indonesian Private Hospital Association (ARSSI) said there had been several reports to his office regarding the capacity of the private hospital bed which was almost full for the treatment of Covid-19 patients. It is also possible that additional private hospitals will be assigned to treat Covid-19 patients a bit.

B. INDONESIA CORPORATE NEWS

Two new issuers will be listed on Thursday, September 10, 2020, namely: ROCK & HOMI

1. PT Rockfields Properti Indonesia Tbk (ROCK)

The developer of Noble House in Mega Kuningan, Jakarta and the International Exchange House in Rasuna Said, Jakarta is offering 287.04 million shares at an offering price of IDR 1,340 per share. With this price, Rockfields will reap IPO funds of IDR 384.63 billion. The prospective issuer will use around 74% of the IPO proceeds after deducting costs to increase equity participation in a subsidiary, namely PT Artha Mas Investama which is the owner of the International Exchange House project, an office building with 44 floors and an area of 105,000 square meters. Artha Mas will use these funds to build office buildings and facilities. The plan to implement Artha Mas development will start at the end of 2020 and be completed in 2024.

2. PT Grand House Mulia Tbk (HOMI)

Grand House Mulia is a company that runs its own real estate business. This Bogor-based company offers 157.5 million shares or 20% of the paid-up capital. With an offering price of Rp. 380, Grand House Mulia will pocket IPO funds of Rp. 59.85 billion. Grand House will use around 95% of the IPO proceeds for working capital, namely payments to suppliers, employee salaries, project wages, contractors, advertising activities, exhibitions and marketing, as well as sales commission payments.

3. PT Bank Tabungan Negara (BBTN)

The company took the initiative to launch a customer loyalty program entitled BATARA SPEKTA. The company plans to target around 250 thousand to 300 thousand new customers from this program. Until July 2020, BTN Batara Savings products recorded positive growth at the level of around 9% yoy. This increase also supported the growth of BBTN`s third party funds (DPK) totaling around 5.37% yoy.

4. PT Summarecon Agung (SMRA)

The company recorded a pre-sale value (marketing sales) of IDR 1.7 trillion or this amount had reached 68% by the end of August 2020 of the new pre-sale target set at IDR 2.5 trillion. In order to pursue the target in the remainder of 2020, his party will release a number of new projects, both residential and commercial. In the fourth quarter of 2020, SMRA will also release a new project, namely Summarecon Bogor. Regarding the new project in Bogor, the company said it would set prices in the range of Rp1.4 billion to Rp1.9 billion. The company hopes to book revenue of IDR 400 billion from the project.

5. PT PP (PTPP)

The company provides loans to PT PP Semarang Demak (PPSD), which is an associated company company. The total value of this 6-month loan amounted to IDR 23.79 billion. The loan provided to meet PPSD`s working capital needs is non revolving and bears interest at 10.9% per annum or 0.91% per month.

6. PT Nippon Indosari Corpindo (ROTI)

The company`s bakery business in the Philippines does not appear to be making a profit. In fact, the joint venture in the Southeast Asian country still recorded a loss. Therefore, the company will divest shares to business partners in the Philippines. The company has signed the sale of Sarimonde Foods Corporation`s shares to Monde Nissin Corporation on Monday (7/9). The sale value of Sarimonde`s shares amounted to PHP 256.15 million, or the equivalent of around IDR 78.27 billion.

7. PT Tridomain Performance Materials (TDPM)

During semester 1/2020, the company recorded sales of US $ 110.66 million, down 27.38% compared to sales in the first semester of 2019 of US $ 152.41 million. Furthermore, during semester 1/2020 the company posted a net profit of US $ 6.16 million or a 23.23% decrease compared to the realization in semester I / 2019 of US $ 8.02 million.

8. PT Medikaloka Hermina (HEAL)

The company cut its target of proceeds from bond issuance phase I to Rp 446.5 billion, compared to the original target of Rp 600 billion. The bonds are part of the ongoing public offering (PUB) of Medikaloka Hermina Bonds with a total of Rp 1 trillion.

C. MARKET STATISTICS

*DJIA +439.58 +1.60% 27940*
*NASDAQ +293.87 +2.71% 11141*
*GOLD +16.3 +0.84% 1954.90*
*OIL +0.94 +2.55% 37.78!!*
*COAL (Okt/Newcastle) +1.10 +2.17% 51.90!!*
NICKEL -12.5 -0.08% 14927.50
*TIN +10 +0.06% 18060*
CPO (Nov`) -58 -2.02% 2812
EIDO -0.20 -1.04% 18.97
*TLK 19.36 (2865) vs 2800 (TLKM)*
US 10yr +0.0190 +2.78% 0.7030
INDO 10yr +0.0084 +0.21% 7.0331
INDO CDS (5yr) +1.394 +1.561% 90.682
IDR (Spot) 14,799

*IDX Range : 5,102 - 5,187*
*USD/IDR Range: 14,710 - 14,850*

D. STOCK WATCHLIST

KLBF, SILO, MIKA, BBBNI, JPFA, BBRI, GGRM, MBAP, ICBP, AALI.

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