Indonesia Market Today - 22 December 2020

A. INDONESIA MORNING MARKET REVIEW

Tuesday (22/12/2020). The combination of falling EIDO of -0.50% (although yesterday IHSG closed up + 1%) amidst the fall in commodity prices such as: Oil -2.63%, Gold -0.29%, CPO -0.44%, Nickel -0.86% & Timah -0.54% potential This is the reason investors are taking profit taking when he will witness the introduction of a new ministerial candidate this Tuesday.

Jokowi Summons Ministerial Candidates to the Palace

Head of the Presidential Secretariat (Kasetpres) Heru Budi Hartono confirmed the news that President Joko Widodo would summon several ministerial candidates to the Palace today (22/12). This further reinforces the cabinet reshuffle which will be held on Wednesday (23/12). * There are at least six ministries that are reportedly going to be overhauled *, namely the Ministry of Health, the Ministry of Tourism and Creative Economy (Kemenparekraf), the Ministry of Social Affairs, the Ministry of Trade, the Ministry of Religion and the Ministry of Maritime Affairs and Fisheries.

Minister of Finance predicts 2020 economic growth could be minus 2.2%

The Minister of Finance again revised Indonesia`s economic growth as a result of the unpredictable corona virus pandemic. According to him, economic growth in 2020 could be -2.2% with an upper limit of -1.7% from the previous range of -1.7% to -0.6%.

Tax Revenues Drop 18.6 Percent as of November 2020

The Minister of Financel revealed that tax revenue reached Rp. 925.34 trillion or decreased by 18.6% from the 2019 achievement of Rp. 1,136.13 trillion.

B. INDONESIA CORPORATE NEWS

1. PT MNC Vision Network (IPTV)

The company is ready to hold a PMTHMETD action or private placement on December 30, 2020 and * has the potential to raise IDR 857.28 billion *. The company has secured the shareholder`s blessing to issue shares of 2.85 billion with a nominal share price of IDR 100 per share.

2. PT ABM Investama (ABMM)

Through its subsidiary PT Cipta Kridatama (CK), the company won a new mining service contract worth IDR 661 billion from a business group in South Kalimantan, the Hasnur Group. BCK will work on a contract in the Balimas Block 3 mining area, Lokpangel, Tapin Regency, South Kalimantan Province which will be valid for a period of 3 years with an option to extend the life of the mine (life of mine).

3. PT PP (PTPP

The company through its subsidiary PT PP Infrastruktur (PP Infra.) Held a signing ceremony for a Cooperation Agreement, a Regress Agreement, and with a cooperation scheme between the government and business entities (KPBU) SPAM (drinking water supply system) Pekanbaru City worth IDR 499 billion.

4. PT Garuda Indonesia (GIAA)

The Company canceled flight services to Saudi Arabia * following restrictions on international flight services to Saudi Arabia issued by the Saudi Arabian aviation authority which * came into effect on December 21, 2020 *. The closure was an effect of the British government announcing the spread of cases of new types of Corona virus mutation infections.

5. PT Pembangunan Jaya Ancol (PJAA)

Taman Impian Jaya Ancol closes during Christmas Day, December 25 and New Year Holidays, December 31, 2020 and January 1, 2021. all recreational units such as beaches, Dunia Fantasi, Sea World Ancol, Ocean Dream Samudra, Pasar Seni, and Allianz Ecopark and all partners rides and restaurants in the Ancol area are not operating.

C. MARKET STATISTICS

*DJIA +36.9 +0.12% 30215*
NASDAQ -13.11 -0.10% 12742
GOLD -5.40 -0.29% 1881.40
OIL -1.29 -2.63% 47.79
*COAL (Jan`21/Newcastle) +0.45 +0.53% 84.70*
NICKEL -150 -0.86% 17342.50
TIN -107.50 -0.54% 19952.50
CPO (Jan`21) -16 -0.44% 3647
EIDO -0.12 -0.50% 23.84
*TLK 24.62 (3480) vs 3520 (TLKM)*
*US 10yr -0.007 -0.74% 0.9410*
*INDO 10yr +0.0630 +0.10% 6.1455*
*INDO CDS (5 yrs) +2.576 +3.829% 69.864*
*IDR (Spot) 14,130*

*IDX Range : 6,126 - 6,218*
*USD/IDR Range: 14,060 - 14,190*

D. STOCK WATCHLIST

JSKY, ISAT, MDKA, PTPP, UNTR, CPIN, AKRA, TBIG, ERAA, WIKA, ADRO.

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