Indonesia Market Today - 25 September 2020

A. INDONESIA MORNING MARKET REVIEW

Friday (25/09/2020). After the JCI for 4 days fell sharply by -216.5 points (-4.53%), * This Friday JCI is expected to "breathe fresh air" aka stable tends to strengthen limited * following the DJIA rebound of + 0.20% driven by strengthening technology stocks and improving US economic data . Positive sentiment also came from the rebound in Gold prices + 0.28%, Oil + 1.51% and came from * the continued strengthening of Coal prices by + 0.67% close to $ 60 so investors could focus on shares of MBAP, ADRO, ITMG, PTBA, HRUM *, amidst the number of achievements. The highest number of victims infected and killed as a result of Corvid19, where on Thursday there was an increase of around +4,634 people (up + 1.8%) infected with Corvid * so that so far the victims infected with Corvid19 reached 262,022 people with an additional death toll on Thursday as many as +128 people (increase + 1.28%) so that so far the death toll has exceeded 10,000, to be precise 10.105 people, (* if the pattern is still the same, there could be 19,000 people killed at the end of December 2020 *) (Fatality Rate of 3.86%).

B. INDONESIA CORPORATE NEWS

1. PT Barito Pacific (BRPT)

The company will accelerate the Java 9 and 10 PLTU project with a capacity of 2x1,000 MW in Suralaya, Banten after the company signed a loan facility agreement worth US $ 252.7 million in early August from the Bangkok Bank Public Company. The company will use all of these funds as part of the company`s portion of the financing structure for PT Indo Raya Tenaga.

2. PT Pembangunan Perumahan (PTPP)

As of August 2020, the company posted new contracts worth Rp. 11.24 trillion. When compared to the same period last year, which reached Rp. 23 trillion, the realization of the contract decreased by 51.13% yoy. As a result of the Covid19 pandemic, the company`s target this year has revised from the original IDR 40.36 trillion to IDR 25.53 trillion.

3. PT Bank Maybank Indonesia (BNII)

The company recorded a quite high NPL increase in June 2020 where grossly, this bank`s consolidated NPL reached 4.9% and net NPL was at the level of 2.91% or an increase from 3.65% grossly and 2.16% net at the end. 2019. The company said there were two causes for the increase in NPLs. First, not all problematic customers are given relaxation of credit restructuring in accordance with POJK 11. Second, BNII credit disbursement has decreased so that the ratio of problem loans is bigger.

4. PT United Tractors (UNTR)

Referring to the realization of the company`s operational performance for the period of August 2020, the company sold 105 units of Komatsu heavy equipment, up 23.5% from sales in July 2020 of 85 units. Furthermore, the volume of coal production through its subsidiary PT Pamapersada Nusantara (Pama) was 75.8 million tons, down 9.76% YoY from the realization of production in 2019 (84 million tons). Meanwhile, the volume of overburden stripping (OB) was 561.1 million bcm, down 14.51% YoY. Sales of coal through its subsidiary PT Tuah Turangga Agung (TTA) in August 2020 fell 41.09% MoM to 407 thousand tons consisting of coking (coking and thermal) coal. Sales of coking coal (coking) in the August period gave a larger portion, namely 213 thousand tons. Meanwhile, sales of thermal coal were only 194 thousand tons. Meanwhile, the business line selling gold through the Martabe Gold Mine reached 22,000 ounces, down 15.3% on a monthly basis. If accumulated, UNTR gold sales until August 2020 amounted to 233,600 ounces, down 12% compared to the same period in 2019 of 267,900 ounces.

5. PT Jasa Marga (JSMR)

The company, through its business group PT Jasamarga Ngawi Kertosono Kediri (JNK), plans to start land acquisition for the Kertosono-Kediri Toll Road in early 2021. The land acquisition process for this project will begin in early 2021, while construction can begin in the middle of next year. and is expected to be fully operational by 2023. The plan is for the Kertosono-Kediri Toll Road to have a length of 20.3 KM with an investment cost of IDR 3.9 trillion. The toll road will be equipped with one junction (Kedungsoko) with the Ngawi-Kertosono Toll Road, and two interchanges located in Nganjuk Regency and Kediri Regency.

C. MARKET STATISTICS

*DJIA +52.31 +0.20% 26815*
*NASDAQ +39.28 +0.37% 10672*
*GOLD +5.3 +0.28% 1871.90*
*OIL +0.6 +1.51% 40.19*
*COAL (Okt/Newcastle) +0.40 +0.67% 59.80*
NICKEL -32.5 -0.23% 14367.5
TIN -260 -1.47% 17445
CPO (Nov`) -93 -3.22% 2792
EIDO -0.10 -0.59% 16.97
*TLK 18.23 (2715) vs 2730 (TLKM)*
US 10yr -0.010 -1.48% 0.6660
INDO 10yr +0.0214 +0.3% 7.0594
INDO CDS (5yr) +9.58 +8.7% 119.697
IDR (Spot) 14,890

*IDX Range : 4,797 - 4,879*
*USD/IDR Range: 14,820 - 14,960*

D. STOCK WATCHLIST

BBRI, MBAP, BBNI, JPFA, GGRM, BBCA, TLKM, UNTR, ADRO, ICBP.

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