Indonesia Market Today - 16 December 2020

A. INDONESIA MORNING MARKET REVIEW

Wednesday (16/12/2020).. After falling for 4 days, the DJIA turned stronger on Tuesday by + 1.13% driven by optimism that the US Congress will approve the Stimulus Package (meaning that the flood of liquidity returns) by the US Congress which has the potential to be a positive sentiment driving the strengthening of the JCI this Wednesday amid the strengthening of EIDO by + 2.08% and a return * of a rise. The prices of several commodities such as: Oil + 1.19%, Coal + 0.78%, Gold + 1.40% & Nickel + 0.13% have the potential to be the catalyst to drive up these commodity-based stocks.

* On the other hand, does the excitement and optimism that occur in the capital market occur in the real market? Just look at car sales dropping -50%, cement sales dropping, property sales dropping, malls must close at 19.00 later. It turns out that instead of enjoying an abundance of sales at the end of 2020, it turns out that they have to be crushed and bite their fingers because the government will re-implement, whatever the name is, a measured or strict PSBB from 18 December to 8 January 2020, which is certain that there will be no abundance of fortune and crowd at the end In 2020, even domestic tourists who have already booked hotels and plane tickets to Bali must do a swab test and there should be no crowds and crowds at the end of 2020 *.

PB IDI: The Covid-19 Pandemic Situation in Indonesia Is Out of Control

The Head of the IDI Executive Board Mitigation Team, Dr. Adib Khumaidi, stated that the handling of the Covid-19 pandemic in the country is currently out of control. This is evidenced by the high increase in Covid patients every day and the increasing mortality rate of medical personnel and health workers. Based on IDI records as of December 15, there were 369 health workers who died due to being infected with Covid-19, consisting of 202 doctors and 15 dentists, and 142 nurses.

B. INDONESIA CORPORATE NEWS

1. PT Bank Tabungan Negara (BBTN)

The company targets to book a 2020 net profit of around Rp 1.1 trillion - Rp 1.2 trillion. However, in October 2020, BBTN`s profit has reached Rp 1.29 trillion or 7.5% above the target set for 2020. In 2020, we are optimistic that we can penetrate the profit in the range of Rp 1.4 trillion to Rp 1.5 trillion driven by growth. net interest income and fee based income. This optimism is quite reasonable because seeing the achievements of channeled loans in November 2020 reached around Rp 2.5 trillion. Furthermore, the ratio of low-cost funds or CASA was getting better or reached approximately 40% in November, better than October which was around 37%. On the other hand, the company has set a profit target of around Rp 2.5 trillion - Rp 2.8 trillion in 2021. This target will be achieved with a credit growth strategy of between 7% -9% with TPF growing in the same range.

2. PT Astra International (ASII)

Based on Gaikindo data, car sales by the ASII Group in November 2020 reached 24,425 units, down 7.52% compared to October 2020`s achievement of 26,410 units. The biggest car sales contribution came from the Toyota brand, followed by Daihatsu and Isuzu. Meanwhile, overall domestic car sales reached 53,884 units in November, up 9.84 percent from October sales. So that ASII`s market share reached 51% from January to November 2020. Especially in November 2020, ASII`s market share was 45%. * Cumulatively ASII car sales for the January-November 2020 period amounted to 243,052 units or decreased by 50.93% * compared to the same period in 2019 of 495,357 units.

3. PT Adhi Karya (ADHI)

The company has budgeted a capex of IDR 2 trillion to IDR 3 trillion in 2021. As for the end of September 2020, the company has issued a capex of IDR 419 billion. On the other hand, ADHI is eyeing an increase in the value of new contracts by up to 20% or around Rp. 24.7 trillion by 2021. In 2020, new contracts are estimated to reach Rp. 20.58 trillion.

4. PT Pollux Properti Indonesia (POLL)

The company has pocketed pre-sales revenue, aka marketing sales, of Rp. 138.5 billion by October 2020. The biggest achievement was driven by the Chadstone project of Rp. 66.81 billion and the Meisterstadt project of Batam amounting to Rp. 61.28 billion. Until the end of the year, POLL targets to pocket marketing sales of Rp 200 billion. On the other hand, the company has budgeted a capex of Rp. 600 billion to Rp. 700 billion. In which, the capex of Rp. 100 billion - Rp. 120 billion is for the completion of ongoing projects like in Karawang. Meanwhile, Rp. 200 billion - Rp. 250 billion is for the Skysuites Pollux Mega Kuningan project and the rest is for projects that are still running. In 2021 the company plans to develop an integrated project in Meisterstadt under PT Pollux Barelang Mega Superblok and Pollux Technopolis under PT Pollux Lito Karawang.

C. MARKET STATISTICS

*DJIA +337.76 +1.13% 30199*
*NASDAQ +155.02 +0.56% 12595*
*GOLD +25.6 +1.40% 1857.4!!*
*OIL +0.56 +1.19% 47.55*
*COAL (Jan`21/Newcastle) +0.65 +0.78% 84.50*
*NICKEL +22.5 +0.13% 17645*
TIN -27.50 -0.14% 19635
CPO (Jan`21) -27 -0.75% 3573
*EIDO +0.48 +2.08% 23.58*
*TLK 24.18 (3415) vs 3450 (TLKM)*
*US 10yr +0.0310 +3.48% 0.9230*
*INDO 10yr -0.0362 -0.57% 6.2909*
*INDO CDS (5 yrs) -0.645 -0.929% 68.832*
*IDR (Spot) 14,120*

*IDX Range : 5,956 - 6,047*
*USD/IDR Range: 14,040 - 14,180*

D. STOCK WATCHLIST

TLKM, PGAS, ANTM, ASII, PURA, TINS, SMGR, MDKA, CPIN, ERAA.

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