Indonesia Market Today - 23 October 2020

A. INDONESIA MORNING MARKET REVIEW

Friday (23/10/2020). The conducive combination of talks on the stimulus package and the increase in banking sector stocks pushed the DJIA to + 0.54% and the prices of several commodities such as: Oil + 1.52%, CPO + 0.95% & Coal + 0.44% could potentially be a positive sentiment for today`s trading on the Indonesian market.

B. INDONESIA CORPORATE NEWS

1. PT Bank Tabungan Negara (BBTN)

Until the end of quarter 3/2020, the company posted 39.72% yoy. The company recorded a profit of IDR 1.12 trillion, or an increase of 39.72% compared to the same period in 2019 of IDR 801 billion. The increase in net profit was supported by lower interest expenses and efficiency. BBTN interest expense decreased by 3.49% yoy to Rp11.95 trillion per quarter III / 2020. The decrease in interest expense was supported by corporate action in cutting expensive funds. This cut has been able to reduce the Cost of Fund (CoF) to 70 bps since the end of 2019. The efficiency strategy carried out by BBTN has also succeeded in reducing the Cost to Income Ratio (CIR). In September 2020, BBTN`s CIR fell 141 bps from 57.13% in September 2019 to 55.72%. BBTN recorded deposits increased by 18.66% yoy from Rp230.35 trillion per quarter III / 2019 to Rp273.33 in the same period this year. The increase in DPK also pushed LDR to the level of 93.26% in the third quarter of 2020. The positive acquisition of TPF also strengthened the company`s Liquidity Coverage Ratio (LCR) at the level of 178.40% per quarter III / 2020 or an increase from LCR in quarter III / 2019 of 131.12%. Meanwhile, the company`s CAR was recorded at 18.95% in September 2020, up from 16.88% in the same month last year.

2. PT Unilever Indonesia (UNVR)

Until the end of quarter 3/2020, UNVR`s net profit edged down 1.29% YoY to Rp5.44 trillion. Meanwhile, until the end of quarter 3/2020, UNVR`s revenue rose 0.3% YoY to Rp32.46 trillion.

3. PT Matahari Department Store (LPPF)

Until the end of quarter 3/2020, the company posted revenue of Rp 3.33 trillion or a 57.5% decrease from Rp 7.83 trillion in the same period in 2019. Retail sales which contributed 64% to total LPPF revenue decreased 57.6% yoy, from IDR 5.03 trillion to IDR 2.13 trillion. Then, consignment sales (net) decreased 57.7% yoy to Rp 1.15 trillion and service revenue was corrected 44.4% yoy to Rp 50 billion. As a result, until the end of quarter 3/2020, the company recorded a net loss of Rp 616.61 billion. In fact, in the same period in 2019, it still posted a net profit of IDR 1.19 trillion.

4. PT NFC Indonesia (NFCX)

Until the end of quarter 3/2020, the company recorded a decrease in net profit for the current period attributable to the parent entity to Rp17.80 billion or a decrease of 58.63% from the profit of Rp43.16 billion in the same period in 2019. Even though until the 3rd quarter of 2020, the company posted revenue increasing by 39.36% to IDR5.92 trillion from revenue of IDR3.97 trillion in 2019.

5. PT Catur Sentosa Adiprana (CSAP)

The company has an ambition to have 50 Mitra10 outlets by 2022. Meanwhile, until the end of the year they will have 38 outlets. CSAP`s newest outlet has been present in Jatimakmur, Bekasi, West Java since yesterday. The second new outlet in 2020, stands on an area of 5,800 m² with a sales area of 3,000 m² and a warehouse of 1,700 m².

6. PT Baramulti Suksessarana (BSSR)

The company is optimistic that it can produce 11 million to 12 million tons of coal by the end of 2020. The target is not much different from last year`s production realization which reached 11.86 million tons.

7. PT Sinergi Inti Plastindo (ESIP)

Until the end of quarter 3/2020, the company posted a net profit of Rp. 1.04 billion, up 22.92% compared to the same period in 2019 of Rp. 848.90 million. On the other hand, until the end of quarter 3/2020 the company recorded net sales of Rp 34.82 billion, down 14.19% compared to the same period in 2019 amounting to Rp 40.57 billion.

C. MARKET STATISTICS
*DJIA +152.8 +0.54% 28363*
*NASDAQ +21.3 +0.19% 11506*
GOLD -21.2 -1.1% 1906.5
*OIL +0.61 +1.52% 40.61*
*COAL (Nov/Newcastle) +0.25 +0.44% 57.40*
NICKEL -110 -0.69% 15797.5
TIN -125 -0.67% 18602.5
*CPO (Dec`) +28 +0.85% 2980!!*
EIDO -0.15 -0.80% 18.70
*TLK 18.46 (2706) vs 2700 (TLKM)*
US 10yr +0.0320 +3.92% 0.8480
INDO 10yr +0.0030 +0.04% 6.8623
*CNDO CDS (5yr) -0.388 -0.408% 94.885
*IDR (Spot) 14,660*

*IDX Range : 5,045 - 5,129*
*USD/IDR Range: 14,580 - 14,720*

D. STOCK WATCHLIST

BBRI, SSIA, MBAP, BRPT, INDF, BDMN, CTRA, INTP, SMRA, EXCL.

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