Indonesia Market Today - 14 January 2021

A. INDONESIA MORNING MARKET REVIEW

Thursday (14/01/2021). The combination of decreasing DJIA and falling prices for several commodities such as: Oil -0.67%, Coal -0.94%, Gold -0.37%, Timah -0.19 & CPO -0.35% has the potential to hold the JCI to strengthen amidst the continuing increase in the number of newly infected victims and an increase in the death toll in Indonesia due to Covid19 and the new development of lockdown in 4 cities in China with a population of 28 million, a new warning from WHO that there will be a potential increase in the number of new cases in North America and an extended lockdown period in several countries in Europe even though vaccinations have started city.

WHO: Entering the second year of the pandemic, the situation could get worse

The World Health Organization (WHO) said on Wednesday (13/1/2021), the second year of the Covid-19 pandemic is likely to be more severe than the first year. This is given how the new coronavirus is spreading, especially in the northern hemisphere when more infectious variants come into action.

China lockdown 4 cities, 28 million people undergo home quarantine

China recorded the biggest daily spike in coronavirus cases in more than five months, even though four cities are already on lockdown. Three cities, including in Hebei Province, North China, namely Shijiazhuang, Xingtai and Langfang, are under lockdown to curb the spread of the new coronavirus. All three cities are home to more than 22 million people, twice the population of Wuhan.

Netherlands Extends Lockdown Until February 9, 2021

The Netherlands extended the lockdown period due to the corona virus until February 9, 2021. This decision was issued because the transmission of the Covid-19 case in the Netherlands was still high.

B. INDONESIA CORPORATE NEWS

1.  PT Timah (TINS)

The company allocated a capital expenditure (capex) of Rp1.9 trillion for 2021, or 26.7% greater than the revised capex for 2020 of Rp. 1.5 trillion. Of that total, around 94% is for the company`s investment costs while 6% is allocated for subsidiaries. On the other hand, TINS targets this year`s production volume to reach more than 50,000 tons, or higher than the estimated production in 2020. TINS also targets tin sales in 2021 to be around 92% of production or equivalent to 46,000 tons.

2. PT Ace Hardware (ACES)

The company is preparing a capital expenditure (capex) of IDR 150 billion for 2021 or -40% lower than the initial capex of 2020 of IDR 250 billion. The lower capex is also in line with the target of opening new outlets which are relatively few in 2021 compared to the realization in 2020, only 9-10 new outlets will be opened during 2021. Meanwhile in 2020 there were 14 outlets covering a total area of 39,100 square meters. Thus, until the end of last year ACES had a total of 208 outlets throughout Indonesia.

3. PT Sentul City (BKSL)

The company again gets PKPU (Request for Postponement of Debt Payment Obligations). This time PKPU was submitted by PT Prakasaguna Ciptapratama on January 7 at the Central Jakarta Court. Based on PKPU`s request, the company has more than one creditors who are due and have not been paid.

4. PT J Resources Asia Pasifik (PSAB)

The Company will conduct a public offering of Sustainable Bond I J Resources Asia Pacific Phase VII Year 2021 of up to IDR384.09 billion. The principal amount is IDR 250.10 billion with an interest rate of 9.25 percent with quarterly payments and will mature on February 6, 2022 and a tenor of 370 calendar days. The remaining Bond Principal amount of up to Rp133,990 billion, will be guaranteed with the best ability (best effort) which may consist of Series A Bonds and / or Series B Bonds.

C. MARKET STATISTICS 

DJIA -8.22 -0.03% 31060:bangbang:
*NASDAQ +56.52 +0.43% 13128*
GOLD -6.9 -0.37% 1848.10:bangbang:
OIL -0.36 -0.67% 52.91:bangbang:
COAL (Feb`21/Newcastle) -0.85 -0.94% 89.65:bangbang:
*NICKEL +7.5 +0.04% 17680*
TIN -40 -0.19% 20935:bangbang:
CPO (Mar`21) -13 -0.35% 3689:bangbang:
*EIDO +0.04 +0.16% 24.66*
*TLK 24.73 (3477) vs 3480 (TLKM)*
US 10yr -0.0500 -4.39% 1.0880
INDO 10yr -0.0037 -0.06% 6.3984
INDO CDS (5 yrs) +0.449 +0.617% 72.178
IDR (Spot) 14,060

*IDX Range : 6,358 - 6,492*
*USD/IDR Range: 13,960 - 14,160*

D. STOCK WATCHLIST

ASII, TINS, PWON, AGII, TBIG, ANTM, WSKT, BBRI, PTBA, INCO.

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