Indonesia Market Today - 2 December 2020

A. INDONESIA MORNING MARKET REVIEW

Wednesday (02/12/2020). The continued strengthening of the JCI was unbearable this Wednesday as the DJIA rebounded by + 0.63% driven by encouraging Chinese economic data and the conducive development of the Covid19 vaccine as well as positive sentiment coming from the strengthening of EIDO by + 3.40%. Not only that, * positive sentiment came from the strengthening of commodity prices in Early BIRD monitoring, namely: Gold + 2.20%, Nickel + 1.11%, Tin + 1.06% & CPO + 1.39% so that it has the potential to push up stocks under these commodities * including: * ANTM , MDKA, UNTR, INCO, TINS, AALI & LSIP *.

This is the focus of the use of the 2021 state budget (APBN)

In 2021, the total state expenditure allocation will reach IDR 2,750 trillion. This budget is spread across several fields, namely education reaching IDR 550 trillion, health IDR 169.7 trillion, social protection program IDR 408.8 trillion, infrastructure will increase back to IDR 417.4 trillion, food security IDR 99 trillion, tourism IDR 14.2 trillion, and the ICT development sector reached Rp. 26 trillion.

B. INDONESIA CORPORATE NEWS

1. PT Aneka Gas Industri (AGII)

Until the end of the 3/2020 quarter, the company posted sales of IDR 1.57 trillion or a decrease of 2.5% yoy compared to the same period in 2019 of IDR 1.61 trillion. Meanwhile, until the end of the third quarter of 2020, the company posted a profit for the current year attributable to the owners of the parent entity, which decreased by 59.8% yoy to IDR 29.52 billion compared to the same period in 2019 of IDR 73.46 billion.

2. PT Jasa Marga (JSMR)

The company is preparing a capex of Rp 7.75 trillion in 2021. In 2021, the company`s toll revenues and other businesses are targeted to grow by 14% and 4% of the 2020 prognosis. Although at the same time, in line with the operation of new toll roads, JSMR interest expense also increased by 33% from 2020 prognosis. EBITDA is targeted to grow by 12% from prognosis 2020.

3. PT Waskita Karya (WSKT)

The company targets to obtain fresh funds of up to IDR 11 trillion from the divestment of shares or divestment of shares in 9 toll roads with a combined length of 480 km.

4. PT PP (PTPP)

In 2021, the company targets to book at least 35% new contracts from the government and PSN and the performance will improve compared to 2020. On the other hand, until October 2020 PTPP has collected new contracts amounting to IDR 12.57 trillion, namely: BUMN 44 %, government 32%, and private 24%. In 2021, PTPP allocates a capex of Rp. 3.4 trillion. As of October, the company has absorbed a capex of Rp 2.7 trillion.

5. PT Tower Bersama Infrastructure (TBIG)

In 2021, the Company prepares a capex of IDR 2 trillion, all for new projects, namely adding 2,000 tenants. In fact, from the beginning of the year to the end of June 2020, TBIG tenants added 2,517 tenants. This means that TBIG has met 84% of this year`s target. TBIG`s tenancy ratio as of June 2020 has also reached 1.96 times, higher than the target of 1.9 times. This ratio shows that in each tower TBIG owns, on average there are two tenants.

6. PT Wintermar Offshore Marine (WINS)

The company booked a contract worth US $ 73 million as of October 2020, or the equivalent of Rp1.02 trillion. This value is an increase of 4.28% or US $ 3 million compared to the acquisition in September of US $ 70 million.

C. MARKET STATISTICS

*DJIA +185.2 +0.63% 29823*
*NASDAQ +156.3 +1.28% 12355*
*GOLD +39.1 +2.20% 1818.40!*
OIL -0.64 -1.42% 44.54
COAL (Dec/Newcastle) -0.25 -0.36% 70.05
*NICKEL +177.5 +1.11% 16230*
*TIN +197.5 +1.06% 18862.5*
*CPO (Jan`21) +47 +1.39% 3417!!*
*EIDO +0.74 +3.40% 22.50*
*TLK 22.72 (3210) vs 3240 (TLKM)*
*US 10yr +0.090 +10.66 0.9340*
*INDO 10yr -0.0062 -0.10% 6.4372*
*INDO CDS (5 yrs) -2.586 -3.56% 70.023*
*IDR (Spot) 14,130*

*IDX Range : 5,671 - 5,760*
*USD/IDR Range: 14,070 - 14,200*

D. STOCK WATCHLIST

BRIS, MBAP, ASII, JSMR, ADHI, LSIP, BBRI, GGRM, AKRA, ITMG.

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