Indonesia Market Today - 12 January 2021

A. INDONESIA MORNING MARKET REVIEW

Tuesday (12/01/2021). Concerns are starting from the expensive valuation of the DJIA and the waiting for a new stimulus package to send the index down by -0.29% and if combined with falling prices for several commodities such as: Oil -1.10%, Nickel -1.84%, Timah -1.53% & CPO -0.60% has the potential to become negative sentiment for trading this Tuesday.

Furthermore, there is an interesting phenomenon again (after previously occurring on Friday last week) where Monday the JCI strengthened quite sharply + 2%, it is hoped that EIDO also strengthened overnight. However, in fact the EIDO fell -0.63%, which raises an interesting question, why did the EIDO go down when the JCI strengthened ?? *

Indonesia is the world`s deadliest aviation market, according to foreign media reviews

According to Reuters, before the Sriwijaya plane crash occurred, there were 697 fatalities in Indonesia over the past decade, including military and private aircraft accidents. * According to the Aviation Safety Network database, this figure makes Indonesia the world`s deadliest aviation market - ahead of Russia, Iran and Pakistan *.

B. INDONESIA CORPORATE NEWS

1. PT Bank Net Syariah Indonesia Tbk (BANK)

The company is ready to sell some of its shares through an IPO on the Indonesia Stock Exchange. The company said that the initial offering or bookbuilding period began yesterday, January 11, 2021 and will last until January 18, 2021. The bank, formerly known as Maybank Syariah, plans to release as much as 5 billion shares or the equivalent of 37.9 percent of the total paid-up capital after the IPO. . Bank Net Syariah offers prices in the range of Rp103 to Rp105 per share so that the target for obtaining funds from the IPO is around Rp. 515 billion to Rp. 525 billion. In addition to offering shares, Bank Net Syariah will also issue 2.8 billion series I warrants, equivalent to 34.17 percent of the issued and fully paid capital at the time of registration. Series I warrants are given free of charge to new shareholders with a ratio of 25 new shares to obtain 14 warrants. Based on financial reports as of July 2020, Net Sharia Bank assets reached 730.94 billion with equity of IDR 655.59 billion. In the same period, the company posted a net profit of IDR57 billion.

2. PT Jasa Marga (JSMR)

The company revealed that it does not yet have the funds to develop an access toll road to Patimban Port *, Subang, which is estimated to cost an investment of IDR 7 trillion.

3. PT Sri Rejeki Isman (Sritex)

The company confirmed that it plans to issue global bonds worth US $ 325 million or equivalent to Rp4.6 trillion. (1 USD = IDR 14,155) Meanwhile, on 23 December 2020, * Moody`s Investors Service lowered Sri Rejeki Isman or Sritex`s corporate family rating (CFR) to B1 from Ba3 *. * Moody`s also downgraded it to B1 from Ba3 on its US $ 150 million unsecured senior debt note maturing in 2024, issued by GoldenLegacy Pte. Ltd. * * Moody`s also downgraded the US $ 225 million unsecured senior debt note maturing in 2025 *, which was issued by Sritex and is unconditionally guaranteed and irrevocable by all operating subsidiaries. * Outlook for all ratings remains negative *.

C. MARKET STATISTICS

DJIA -89.28 -0.29% 31008
NASDAQ -202.71 -1.55% 12902
GOLD -0.2 -0.01% 1846.40
OIL -0.58 -1.10% 52.06
*COAL (Feb`21/Newcastle) +0.40 +0.47% 85.10*
NICKEL -322.50 -1.84% 17202.50
TIN -322.50 -1.53% 20725
CPO (Mar`21) -23 -0.60% 3797
EIDO -0.15 -0.63% 24.36
*TLK 25.23 (3564) vs 3600 (TLKM)*
US 10yr +0.0270 +2.44% 1.1320
INDO 10yr +0.0670 +1.07% 6.3470
INDO CDS (5 yrs) +1.368 +1.999% 69.79
IDR (Spot) 14,125

*IDX Range : 6,340 - 6,434*
*USD/IDR Range: 14,960 - 14,190*

D. STOCK WATCHLIST

KLBF, BBRI, PWON, ADRO, ASII, BMRI, ITMG, SMRA, SMBR, JSMR.

DISCLAIMER ON

GFS ASIA TEAM 

• 0
• 0
• just now
• 0