Indonesia Market Today - 28 December 2020

A. INDONESIA MORNING MARKET REVIEW

Monday (28/12/2020). After a week ago the JCI fell -95.62 points (-1.55%), at the beginning of this week, Monday, * there is a chance that the JCI will experience a rebound, aka strengthening * to follow during the Indonesian market holiday, the DJIA Index actually strengthens + 0.61% and EIDO also increases + 1.71% . In addition, positive sentiment also came from the strengthening of several commodity prices, such as: Oil + 0.92%, Gold + 1%, Nickel + 1.93%, Tin + 0.23% and the sharpest strengthening came from CPO prices which rose quite sharply by + 5.21% . The impact is commodity-based stocks have the opportunity to rise this Monday.

Corona Cases Continue to Rise, DKI is Preparing to Conduct an `Emergency Break`

The DKI Jakarta Provincial Government alluded to the potential for implementing an `emergency break` in the capital if the positive number of Covid-19 continues to increase. The Deputy Governor of DKI Jakarta also asked business actors to participate in suppressing the increase in the Covid-19 case.

B. INDONESIA CORPORATE NEWS

1. PT Solusi Sinergi Digital Tbk (WIFI)

Companies engaged in digital technology are targeting funds of up to IDR 82.97 billion through IPO and will list their shares on the IDX on December 30, 2020. WIFI will release 156.55 million shares or the equivalent of 8.04% of the issued and fully paid capital after the IPO and implementation of debt conversion to PT Prambanan Investasi Sukses (PIS) and PT Investasi Gemilang Maju (IGM) with the exercise price set at IDR530 per share. The Company also issued Series I Warrants totaling 351,661,600 or a maximum of 23.33% of the total number of issued and fully paid shares prior to the IPO. The warrants are given free of charge to new shareholders, with a ratio of 5 new shares, they will get 4 series I warrants.

2. PT United Tractors (UNTR)

The company targets gold sales volume in 2021 to reach 340,000 oz from the previous gold sales target in the 360,000 oz range which is also lower than the 2019 target of 400,000 oz due to mining from deeper layers so that the gold content will be lower. In November 2020, the company through PT Agincourt Resources recorded gold sales of 21,000 oz, or a decrease of -4.54% compared to the acquisition in October 20204 of 22,000 oz.

During January-November 2020, the company sold 299,000 oz of gold, down -22.5% compared to the acquisition for the same period in 2019 of 386,900 oz. Meanwhile, the company`s total capex in 2021 is US $ 290 million.

3. PT PP (PTPP)

The company allocated a capex of around Rp. 6.52 trillion in 2021, an increase of 92.9% from the 2020 capex of Rp. 3.38 trillion. In detail, the 2021 capital expenditure consists of investment funds for carry-over projects amounting to Rp 4.36 trillion and a new investment budget of Rp 1.89 trillion. On the other hand, the company has recorded new contracts worth IDR 17.42 trillion until the third week of November 2020.

C. MARKET STATISTICS

(Dec 23 - 25, 2020)
*DJIA +184 0.61% 30119*
NASDAQ -3 -0.02% 12804
*GOLD +18.7 +1% 1883.20*
*OIL +0.44 +0.92% 48.23*
COAL (Jan`21/Newcastle) -0.2 -0.24% 84.50
*NICKEL +322.5 +1.93% 17032.5*
*TIN +50 +0.25% 20025*
*CPO (Jan`21) +191 +5.21% 3854!!!*
*EIDO +0.39 +1.71% 23.20*
TLK 23.61 (3353) vs 3320 (TLKM)
US 10yr +0.008 +0.87% 0.9260
INDO 10yr -0.0075 -0.1214% 6.1694
INDO CDS (5 yrs) -1.161 -1.66% 68.703
IDR (Spot) 14,200

*IDX Range : 5,967 - 6,058*
*USD/IDR Range: 14,120 - 14,260*

D. STOCK WATCHLIST

TBIG, SRTG, ISAT, PURA, JSKY, ERAA, CTRA, WSBP, ADRO, WIKA.

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