Indonesia Market Today - 10 October 2020

A. INDONESIA MORNING MARKET REVIEW

Friday (09/10/2020). Press Statement of Pres. Trump in an interview with Fox Business on Thursday morning: * the administration and Democrats were "starting to have some very productive talks * and given permission to the pharmaceutical company GenMark Diagnostic from the FDA regarding the follow-up test for the Covid19 vaccine pushed the DJIA back up by + 0.43% and rising prices for several commodities such as: Oil + 2.99%, Gold + 0.38%, Nickel + 0.62%, Tin + 0.29% & CPO + 0.58% * has the potential to be a positive sentiment driving the JCI to rise again this Friday amid the attainment of the highest number of infected victims. and died due to Corvid19, where on Thursday there was an increase of around +4,850 people (up + 1.54%) infected with Corvid so that so far the victims infected by Corvid19 reached 320,564 people with the addition of deaths on Thursday as many as +108 people (up + 0.98%) so that So far the death toll has reached 11,580. (Fatality Rate of 3.61%) *.

B. INDONESIA CORPORATE NEWS

1. PT Barito Pacific (BRPT)

Star Energy Geothermal (Salak-Darajat) BV, a subsidiary of BRPT, issued green bonds worth US $ 1.11 billion. This green bond offering was highly oversubscribed with incoming orders reaching US $ 2.8 billion from 106 accounts. In detail, as many as 42% of investors who ordered green bonds came from the United States, 39% from Asia, and 19% from Europe, the Middle East and Africa. Meanwhile, based on the type of investor, as many as 82% were asset management, 8% were from the insurance and pension fund groups, 8% were hedge funds, and 2% were private banks. The Star Energy Geothermal green bond is divided into two series. Tranche A amounting to US $ 320 million with a tenor of 8.5 years and a coupon of 3.25%. Meanwhile, tranche B is worth US $ 790 million with a tenor of 18 years and a coupon of 4.85%. Moody`s Investor Service has assigned an investment grade rating, namely Baa3 for a senior secured bond issued by Star Energy Geothermal Darajat II Ltd and Star Energy Geothermal Salak Ltd.

2. PT Bank Tabungan Negara (BBTN)

As of September 2020, the company has distributed PEN funds reaching IDR 18.15 trillion which has been used by around 60 thousand debtors. With this positive note, the company is also trusted by the government again with an additional placement of state funds of IDR 5 trillion. The positive performance record is reflected in the company`s TPF which recorded a growth of around 18.7% yoy in the third quarter of 2020. The maintained liquidity condition is also reflected in the position of BBTN`s LDR which is at the level of around 93.26% as of September 2020.

3. PT Sawit Sumbermas Sarana (SSMS)

The company wants to boost the performance of CPO production this year. Until the close of this year, the company is pursuing a production target of 600,956 tons of crude palm oil, aka CPO.

4. PT Garudafood Putra Putri Jaya (GOOD)

The company has received credit facilities amounting to Rp2.66 trillion from PT Bank DBS Indonesia, BTPN, Citibank NA Jakarta Branch, and PT Bank HSBC Indonesia. The loan will be used for refinancing and has a term of 60 months from the date of initial drawdown of the loan facility. Loan facilities are provided without collateral and without collateral (clean basis).

C. MARKET STATISTICS

*DJIA +122 +0.43% 28525*
*NASDAQ +56.38 +0.50% 11420*
*GOLD +7.2 +0.38% 1898.3*
*OIL +1.20+2.99% 41.27*
COAL (Okt/Newcastle) Unch 58.00
*NICKEL +90 +0.62% 14642.5*
*TIN +52.5 +0.29% 18125*
*CPO (Nov`) +17 +0.58% 2994*
*EIDO +0.15 +0.83% 18.21*
*TLK 18.59 (2735) vs 2700 (TLKM)*
US 10yr -0.020 -2.55% 0.7650
INDO 10yr -0.0063 -0.09% 7.0107
*INDO CDS (5yr) -5.336 -5.16% 98.084*
IDR (Spot) 14,710

*IDX Range : 4,990 - 5,073*
*USD/IDR Range: 14,630 - 14,760*

D. STOCK WATCHLIST

GGRM, PGAS, CPIN, KLBF, EXCL, PWON, MBAP, INTP, HMSP, BBCA.

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