Indonesia Market Today - 29 September 2020

A. INDONESIA MORNING MARKET REVIEW

Tuesday (29/09/2020). Trading conditions on the Indonesia Stock Exchange on Tuesday are expected to be * more conducive following the strengthening of the DJIA by +410.1 points + 1.51%, so that for 2 days the DJIA has strengthened +651.4 points (+2.85%) *, driven by the strengthening of shares in the technology & tourism sector. Besides * positive sentiment for the JCI also came from the expectation of 10 million Covid19 vaccines at the end of 2020 as well as a rebound in commodity prices such as: Oil + 1.32%, Gold + 1.18%, Coal + 0.34%, Timah + 1.92% and Nickel + 0.82% * Amid the achievement of the highest number of victims infected and killed due to Corvid19, where on Monday there was an increase of around +3,509 people (up + 1.27%) infected with Corvid so that so far the victims infected with Corvid19 reached 278,722 people with an additional death toll on Monday of +87 people ( increase + 0.84%) so that the death toll has reached 10,473 people. (Fatality Rate of 3.76%) *.

B. INDONESIA CORPORATE NEWS

1. PT Kimia Farma (KAEF)

The company is optimistic that 10 million Covid-19 vaccines will be available by the end of 2020. Meanwhile, an additional 50 million doses of vaccine will be distributed at the end of the first quarter of 2021.

2. PT Surya Semesta Internusa (SSIA)

The impact of the PSBB is to postpone the groundbreaking schedule for the first phase of the Subang City of Industry project to November. The first phase of Subang City of Industry will be built on an area of 250 ha. The next phase will be continued until the project stands on an area of 2,000 ha. Of this area, SSIA will set aside 30% of the land or the equivalent of around 600 ha for apartment projects and landed houses. This project is intended for workers in the Subang City of Industry area. The land acquisition process continues. So far, SSIA has acquired 1,200 ha of land. SSIA needs funds of around IDR 1.7 trillion to complete the first phase. Of this value, IDR 1.5 trillion is required for infrastructure. The rest is allocated for land acquisition costs.

3. PT Metropolitan Land (MTLA)

The company has postponed the plan to sell the Royal Venya Ubud project in Bali. As a result, the company estimates that the revenue from marketing sales or sales revenue until the close of this year will be around Rp 1.1 trillion-Rp 1.2 trillion or nearly half of the initial target of Rp 2 trillion. On the other hand, the company revised the capex this year to Rp 225 billion from Rp 600 billion previously.

4. PT Total Bangun Persada (TOTL)

The company pocketed a new contract value of IDR 497 billion until mid-September 2020 or decreased -68.94% when compared to a new contract in September 2019 of IDR 1.6 trillion.

5. PT Adi Sarana Armada (ASSA)

During the first semester of 2020, the company recorded revenue growth of 29.58% to IDR 1.4 trillion over the same period last year. 2019 amounting to Rp1.08 trillion. The largest contribution to revenue came from passenger car rental services and autopool services amounting to IDR 642.09 billion or 45.76% of ASSA`s total revenue in the first half of 2020, followed by online express logistic (Anteraja) services at 19.24%, used vehicle sales amounted to 14.21%, helmsman rental at 9.56%, automotive auction services (JBA) by 5.71%, and logistics services by 5.52%. Meanwhile, until the end of semester 1/2020, the company posted a corrected net profit to IDR 17.67 billion compared to the same period in 2019 of IDR 42.42 billion.

6. PT Pollux Properti Indonesia (POLL)

The company targets revenue in 2020 of IDR 595.3 billion or a decrease of 13.01% compared to 2019`s revenue of IDR 684.33 billion. Meanwhile, the company`s net profit for the current year is projected to fall 44.74% in 2020 to IDR100.92 billion compared to last year`s achievement of IDR182.62 billion. On the other hand, the company has absorbed a capex of IDR300 billion from this year`s allocation of IDR400 billion.

C. MARKET STATISTICS

*DJIA +410.1 +1.51% 27585*
*NASDAQ +203.96 +1.87% 11117*
*GOLD +22.1 +1.18% 1886.40*
*OIL +0.53 +1.32% 40.57*
*COAL (Okt/Newcastle) +0.2 +0.34% 59*
*NICKEL +117.5 +0.82% 14505*
*TIN +327.5 +1.92% 17352.5*
CPO (Nov`) -11 -0.38% 2865
EIDO -0.05 -0.29% 17.37
*TLK 18.2 (2712) vs 2660 (TLKM)*
US 10yr +0.004 +0.61% 0.663
INDO 10yr -0.0233 -0.33% 7.0211
INDO CDS (5yr) -2.33 -1.96% 116.834
IDR (Spot) 14,900

*IDX Range : 4,860 - 4,942*
*USD/IDR Range: 14,820 - 14,960*

D. STOCK WATCHLIST

CTRA, MDKA, BRPT, SSIA, ERAA, JPFA, MBAP, SMGR, BBNI, GGRM.

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