Indonesia Market Today - 12 November 2020

A. INDONESIA MORNING MARKET REVIEW

Thursday (12/11/2020). After the JCI strengthened for 5 days in a row by +404.31 points (+ 7.7%), does that mean the market needs to "cool down" for a while as the DJIA falls by -0.08% and the EIDO falls by -0.55% amid the decline in several commodity prices such as : Gold -0.50% & Tin -0.37%.

B. INDONESIA CORPORATE NEWS

1. PT Bank BRI Syariah (BRIS)

BRIS, as the surviving entity with PT Bank Mandiri Syariah, and PT Bank BNI Syariah, said that they would soon fulfill the minimum requirements for public shares (free float) after the merger was completed. The share of public ownership in BRI Syariah is now 18.47%, post-merger public ownership will be diluted to 4.4%, under the free float requirement of 7.5%. Previously, the President Director of the Indonesia Stock Exchange said that the Exchange could provide relaxation for issuers that took corporate actions and made public ownership cut under the free float provisions.

2. PT Adhi Karya (ADHI)

The company booked new contracts worth IDR7.5 trillion excluding taxes as of October 2020. This is an increase of 20.8% compared to the value of new contracts obtained in September which were IDR 6.2 trillion excluding taxes. So that the total value of the order book is IDR 38 trillion.

3. PT Indo Tambangraya Megah (ITMG)

Until the end of quarter 3/2020, the company posted revenue of US $ 871.88 million, down 33.17% compared to the same period in 2019 of US $ 1.3 billion. As a result, until the end of quarter 3/2020, * the company recorded a weakening profit for the period attributable to the parent entity by 60.49% yoy * to US $ 39.98 million compared to the same period in 2019 of US $ 101.21 million.

4. PT Surya Semesta Internusa (SSIA)

Until the end of quarter 3/2020, the company posted a decline in revenue of 23.25% yoy to IDR 2.12 trillion from the previous position of IDR 2.76 trillion. As a result, until the end of quarter 3/2020, * the company recorded an increase in losses of 2339.1% yoy * to Rp197.87 billion compared to the loss for the same period in 2019 of Rp8.11 billion.

5. PT Surya Semesta Internusa (SSIA)

The company is preparing a capex for 2021 of IDR 750 billion, where the capex will be used for the development of the industrial segment and replacement of Banyan Tree Resort operators. On the other hand, on 18 November 2020, SSIA will conduct groundbreaking for the first phase of Subang Smartcity covering an area of 400 hectares (ha). Overall, Subang Smartcity has an area of 2,717 ha, which development is divided into 4 phases. As for land development in Subang, SSIA is targeting to get 40 ha of marketing sales from the 2021 target of 60 ha. The remaining 20 ha will come from land in Karawang.

6. PT Nusa Raya Cipta (NRCA)

SSIA projects that the revenue of its subsidiary that is engaged in construction, namely NRCA, will increase by 20% to 30% in 2021, and is targeting new contracts of Rp 2.5 trillion.

7. PT Jababeka Industrial Estate (KIJA)

Until the 3/2020 quarter, the company posted an increase in revenue of 29.45% to Rp1.82 trillion from the previous Rp1.41 trillion. However, due to foreign exchange charges until the end of quarter 3/2020, the company suffered a loss of up to Rp266 billion or a sharp decline of 502.66% * due to reversing from a profit position of Rp.66.06 billion in the third quarter of 2019.

C. MARKET STATISTICS

DJIA -23.29 -0.08% 29392
*NASDAQ +232.5 +2.01% 11786!!*
GOLD -9.3 -0.50% 1862.90
*OIL +0.14 +0.34% 41.51*
COAL (Nov/Newcastle) Unch 62.30
*NICKEL +95 +0.60% 16002.5*
TIN -67.5 -0.37% 18215
*CPO (Dec`) +25 +0.73% 3431*
EIDO -0.12 -0.55% 21.62
*TLK 43 (3028) vs 3080 (TLKM)*
US 10yr -0.0140 -1.44% 0.9580
INDO 10yr +0.0183 +0.28% 6.6664
*INDO CDS (5 yrs) -1.732 -1.011% 71.667*
*IDR (Spot) 14,085*

*IDX Range : 5,464 - 5,551*
*USD/IDR Range: 14,005 - 14,140*

D. STOCK WATCHLIST

BRIS, ASII, TLKM, PGAS, ADRO, BBNI, WSKT, SMGR, EXCL, INTP

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