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Indonesia Market Today - 14 December 2018

  • Regular
  • Asian Market
  • 3 months ago
  • 39

A. Indonesia Morning Market Review
Friday (14/12/2018). After the DJIA had gained +213.7 points driven by optimism for talks between the US & China regarding trade, but along with improving job data, investors focused on the planned FFR increase of 25 bps next week so investors made profit taking and the DJIA closed higher +70.11 points (+0.3 %) amid rising EIDO + 1.49%, Oil + 3.7%, Nickel + 0.7% & Tin + 0.53% and appreciation of the Rupiah to be a prediction factors for JCI to strengthen today.

Increase in National Cement Consumption Slows in November 2018.
The Indonesian Cement Association recorded that national cement consumption in November 2018 only grew 1.5% YoY or fell compared to the increase in October which reached 5%. Total consumption in November 2018 reached 6.56 million tons, up only 1.5%. Meanwhile, total consumption from January to November 2018 was 63.43 million tons or grew by 4.9%. Cement consumption in November 2018 was helped by rising demand on Sulawesi Island by 9.9% on an annual basis to 543,000 tons. Estimated 2018, with December still having increased rainfall, the total national consumption of 2018 is around 4%.


B. Indonesia Corporate News
1. PT Mitra Adiperkasa (MAPI)
The company estimates revenue growth in 2019 to be around 15%. This amount will be reached with a massive expansion in the Adiperkasa Mitra retail and distribution network. The added store area reaches 50,000 square meters to 60,000 square meters. While the capex is worth IDR 800 billion to expand the store area.

2. PT Sawit Sumbermas Sarana (SSMS)
The company allocates capital expenditure in 2019 worth Rp 600 billion or lower compared to 2018 worth Rp 677 billion. Meanwhile, as of November 2018, the company has only realized IDR291.67 billion or around 43% of the full year allocation. This year Capex has been used for mill projects worth Rp.119.42 billion, buildings of Rp.83.42 billion, infrastructure of Rp.11.40 billion, and the needs of vehicles and equipment worth Rp53 billion. In addition, it was used for the needs of machinery and equipment valued at Rp19.52 billion, as well as furniture valued at Rp.4.9 billion. As of November 2018, FFB production rose 29.36% yoy to 1.63 million tons. Until the end of the year, SSMS TBS production is expected to penetrate 1.7 million tons.

3. PT Adhi Karya Tbk (ADHI)
The company targets a new contract worth 23.3 trillion by the end of 2018. Until November, the company has booked a contract of Rp 21.5 trillion. The realization of the acquisition of this contract comes from the construction of the Aceh-Sigli toll road valued at Rp 7.6 trillion, the revitalization project of Soekarno-Hatta Airport terminal 2 at Rp 737 billion, and the construction of the Patimban pier worth Rp 492 billion. The contribution of the business line to the acquisition of new contracts in November was dominated by construction and energy businesses at 94.4%, property 4.8%.


C. Market Statistics
DJIA +70.11 +0.3% 24597
NASDAQ -28 -0.4% 7070
GOLD -3.45 -0.28% 1247.1
OIL +1.91 +3.7% 53.12
COAL (Dec/Newcastle) +0.55 -0.54% 102.2
COAL (Dec/Rotterdam) -0.05 -0.06% 87.7
NICKEL +75 +0.7% 10860
TIN +102.5 +0.53% 19447.5
CPO (Feb) +11 +0.54% 2044
EIDO +0.37 +1.49% 25.14
US 10yr +0.005 +0.17% 2.9110
INDO 10yr -0.0461 -0.55% 8.2722
INDO CDS 5yr -4.19 -2.97% 136.78
TLK 53.62 (3886)
IDR (Spot) 14496.5
IDR (Investing, 14/12/18/Fut, 04.50) 14510

IDX Range.      :  6,137 - 6,230
USD/IDR Range: 14,450 - 14,530


D. Stock Picks
1. BBCA
52Week Price Range: 20600 - 26975
Monthly RLine: 29900 - 28050 - 27050
Monthly PP: 25200
Monthly SLine: 24200 - 22350 - 21350
Summary: STRONG BUY

2. ICBP
Daily Price Range: 9550 - 9800
Daily RLine: 9850 - 9800 - 9750
Daily PP: 9700
Daily SLine: 9650 - 9600 - 9550
Summary: STRONG BUY

3. JSMR
Daily Price Range: 4420 - 4500
Daily RLine: 4700 - 4630 - 4540
Daily PP: 4470
Daily SLine: 4380 - 4310 - 4220
Summary: STRONG BUY

4. HOKI
52Week Price Range: 322 - 1015
Monthly RLine: 979 - 912 - 784
Monthly PP: 717
Monthly SLine: 589 - 522 - 394
Summary: STRONG BUY


Smart Trend Team (GR)
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