Indonesia Market Today - 15 December 2020

A. INDONESIA MORNING MARKET REVIEW

Tuesday (15/12/2020). After several European countries are implementing a new lock down and anticipating a * second wave * of the Covid19 attack, it is the turn of the US government, which is feared to reimpose a lockdown, pushing DJIA to fall by -0.62% and a drop in gold prices of -0.63% amid * the possibility of reintroducing PSBB strict in several provinces in Indonesia * has the potential to become a negative sentiment for JCI this Tuesday.

On the other hand, the return * of rising prices for several commodities, such as: Coal + 1.64%, Oil + 0.92%, CPO + 1.27%, Nickel + 1.69% and Timah + 0.72%, have the potential to be a catalyst for the rise in commodity-based stocks.

Luhut Orders Anies to Tighten PSBB in Jakarta Starting December 18.

Coordinating Minister, Luhut Binsar Panjaitan, asked the Governor of DKI Jakarta to tighten the application of the work from home system (WFH) to 75% from 18 December to 8 January 2021. In addition, the Coordinating Minister for Marves also asked the Governor of DKI Jakarta to continue the policy of limiting operating hours to 19:00. and limiting the number of people gathering at dining establishments, malls and entertainment venues. The tightening of working from home, said Luhut, was to anticipate or suppress the spike in Covid-19 cases after the Christmas and New Year 2021 holidays. In addition to DKI Jakarta Province, Coordinating Minister Luhut also provided directions for the Governors of West Java, Central Java and East Java.

B. INDONESIA CORPORATE NEWS

1. PT Sumber Alfaria Trijaya (AMRT)

Until the end of quarter 3/2020, the company posted an increase in revenue of 4.18% to IDR 56.37 trillion compared to the same period in 2019 of IDR 54.11 trillion. In detail, three AMRT business segments also recorded an increase in revenue. Income from food items rose 2.29% to Rp 37.46 trillion. Non-food sales rose 8.13 percent to Rp 18.89 trillion and service sales increased 57 percent to Rp 18.81 billion. The company`s increased revenue is also supported by the contribution of the addition of new stores where to date, AMRT has opened around 800 stores to 900 stores out of a total of 1000 stores that will be opened in 2020.

2. PT Metropolitan Land (MTLA)

The company is targeting pre-sales and recurring income in 2021 to reach IDR 1.6 trillion. To realize the target, MTLA budgeted a capital expenditure of around IDR550 billion, with details of around IDR205 billion that will be used for land acquisitions, rounding off projects under construction. Meanwhile, around Rp. 190 billion will be used for infrastructure purposes and the rest will be disbursed for the completion of investment projects, including Hotel Horison Kertajati and Hotel Royal Venya Ubud. Meanwhile, until the end of 2020, the company estimates that both marketing sales and recurring revenues will be able to book around Rp1.1 trillion.

3. PT Lippo Karawaci (LPKR)

The company prepares capex in the range of US $ 4 trillion to Rp 4.1 trillion for 2021. The capex budget will be used for two business segments of the company, namely: capex worth Rp 3.5 trillion for property development. And the rest, around Rp. 550 billion - Rp. 600 billion for the real estate management & services segment, especially around 80% for Siloam.

4. PT Sri Rejeki Isman (SRIL)

The company finally launched the first export of Philippine army uniforms by sending eleven containers. The Philippines is the 36th country whose uniform was made by Sritex and is the 8th country in the Asia Pacific region after Indonesia, Malaysia, Brunei, Timor Leste, Singapore, Nepal, and Australia.

5. PT Waskita Karya (WSKT)

The company has signed 2 new construction service agreements worth IDR 388 billion with the Ministry of Public Works and Housing for the Development of the Tanjung Lesung Package 1 KEK Coastal Security Project in Pandeglang Regency worth IDR 249 billion and the work implementation period is 1080 days from the SPMK and the Work Contract for D.I. Irrigation Rehabilitation. Ciliman in Banten Province worth Rp. 139 billion.

6. PT Ultra Jaya Milk Industry (ULTJ)

The company seeks to maintain the 2020 net profit of Rp. 1.03 trillion (equivalent to the achievement in 2019). Meanwhile, revenue is projected to fall below 5% or around Rp. 5.83 trillion compared to the realization in 2019 of Rp. 6.24 trillion.

7. PT Buyung Poetra Sembada (HOKI)

The Company formed a new subsidiary named PT Hoki Distribution Niaga on November 9, 2020 with an authorized capital of IDR 500,000,000. The composition of PT Hoki Distribution Niaga`s share ownership is HOKI at 70% and Adi Wijaya and Budiman Susilo each at 15%.

C. MARKET STATISTICS

DJIA -184.8 -0.62% 29861*
*NASDAQ +62.17 +0.50% 12440*
GOLD -11.7 -0.63% 1831.80
*OIL +0.43 +0.92% 46.99*
*COAL (Jan`21/Newcastle) +1.35 +1.64% 83.85!!*
*NICKEL +292.50 +1.69% 17622.50*
*TIN +140 +0.72% 19662.50*
*CPO (Jan`21) +45 +1.27% 3599*
*EIDO +0.13 +0.57% 23.10*
*TLK 23.06 (3250) vs 3320 (TLKM)*
*US 10yr -0.0150 -1.65% 0.8930*
*INDO 10yr -0.0355 -0.56% 6.3447*
*INDO CDS (5 yrs) +0.528 +0.760% 69.514*
*IDR (Spot) 14,080*

*IDX Range : 5,960 - 6,051*
*USD/IDR Range: 14,030 - 14,160*

D. STOCK WATCHLIST

PGAS, ANTM, ITMG, ISAT, ACES, UNTR, CPIN, SMGR, JPFA, GGRM.

DISCLAIMER ON
GFS ASIA TEAM

• 0
• 0
• just now
• 0