Indonesia Market Today - 24 September 2020
A. INDONESIA MORNING MARKET REVIEW
Thursday (24/09/2020). The continuing fall of the JCI and will be below the 4,900 level is inevitable in trading this Thursday * following the sharp decline of the DJIA by -1.92% due to 3 things: selling pressure on technology stocks, the Covid19 issue and uncertainty regarding the continuation of the fiscal stimulus package. * The negative sentiment for JCI today also came from the decline in EIDO -2.35% and the decline in several commodity prices including: Gold -1.97%, Nickel -1.23%, Tin -2.91% and CPO-3.67%. * The only positive sentiment came from * Coal commodity prices rebound by + 0.42% close to $ 60 so that investors can focus on shares of MBAP, ADRO, ITMG, PTBA, HRUM * amidst the achievement of the highest number of victims infected and killed by Corvid19, where on Wednesday there was an addition of around +4,465 people (up + 1.76%) infected with Corvid * so far, the number of victims infected by Corvid19 has reached 257,388 people with the addition of the death toll on Wednesday as many as +140 people (up + 1.42%) so that so far the death toll has reached 9,977 people, heading for 10,000 dead tomorrow (Fatality Rate of 3.88%)*.
B. INDONESIA CORPORATE NEWS
1. PT Salim Ivomas Pratama (SIMP) and PT PP London Sumatra Indonesia (LSIP).
The company continues to expand amid the pandemic. LSIP has spent a capital expenditure budget of IDR 136 billion in semester 1/2020 and forecasts a capex of IDR 500 by the end of the year. Meanwhile, SIM capex absorption throughout 2020 is around IDR 1 trillion-IDR 1.1 trillion. That way, the total capex absorption of LSIP & SIMP L this year is projected to reach Rp 1.5 trillion-Rp 1.6 trillion. LSIP uses capex for new planting activities on an area of 700 hectares (ha) and replanting fruit trees, such as rubber, cocoa and tea, which is approximately 1,000 ha. At the door, the capex LSIP is used. The capital expenditure will also be used to complete the construction of a factory in East Kalimantan, build employee housing, and repair roads. The largest capex allocation is for the construction of a palm oil mill (PKS) in East Kalimantan. This factory has a capacity of 45 tons of fresh fruit bunches (FFB) per hour. On the other hand, SIMP has also added facilities in Surabaya for margarine production, along with its buildings and infrastructure.
2. PT Alkindo Naratama (ALDO)
The company continues to spur sales and production of food packaging specifically targeting MSME players. Sales in June were around 900,000 pcs, then July was 1.5 million pcs, continued in August it had sold up to 2.35 million pcs. The company still sees that until the end of the year it can continue to grow to reach the target of 5 million pcs per month. If it is true that up to 5 million pcs per month are sold, the company said that the FMCG packaging which specifically targets MSMEs will contribute to ALDO`s consolidation by 10-12 percent by the end of the year. To support the sales target of up to 5 million pcs per month, ALDO has brought in a new machine which is planned to run in October.
3. PT Bank Bisnis Internasional (BBSI)
The company will make additional capital with pre-emptive rights (PMHMETD) aka right issue, totaling 438,627,450 new shares. The company plans to carry out the Right issue within semester 1/2021. Meanwhile, shareholders who do not exercise their rights will be diluted by a maximum of 14.29%.
C. MARKET STATISTICS
DJIA -525 -1.92% 26763
NASDAQ -330.6 -3.02% 10632
GOLD -37.6 -1.97% 1866.60
*OIL +0.04 +0.10% 39.59*
*COAL (Okt/Newcastle) +0.25 +0.42% 59.40*
NICKEL -180 -1.23% 14400
TIN -530 -2.91% 17705
CPO (Nov`) -110 -3.67% 2875
EIDO -0.41 -2.35% 17.07
*TLK 18.52 (2745) vs 2800 (TLKM)*
US 10yr +0.012 +1.81% 0.6760
INDO 10yr -0.065 -0.09% 7.0380
INDO CDS (5yr) -0.425 +0.384% 110.117
IDR (Spot) 14,815
*IDX Range : 4,883 - 4,966*
*USD/IDR Range: 14,730 - 14,870*
D. STOCK WATCHLIST
TBIG, SSIA, MAPI, ICBP, ACES, KLBF, MYOR, ANTM, UNTR, CPIN.
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