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Indonesia Market Today - 2 January 2019

  • Regular
  • Asian Market
  • 4 months ago
  • 68

A. Indonesia Morning Market Review
Wednesday (02/01/2019). In 2018 by incising a number of records where the JCI during December rose + 3.39% with Foreign Net Sells of IDR -5.87 trillion while for 1 year the JCI fell -2.54% with Foreign Sell Net of IDR -50.32 trillion. So is the DJIA-US which fell -5.6% during 2018, the biggest annual fall since 2008. For the first trading day in 2019, we predicts the possibility of JCI strenghtening as the rise of DJIA, EIDO, Oil amid trade that tends to be slow, as most of investors still in New Year Holiday.

Slowing in all sectors, credit only grew 11.9% in November 2018
Bank Indonesia (BI) posted bank lending in November 2018 amounting to Rp 5,185.5 trillion or grew by 11.9% (yoy). However, this credit growth is lower than October 2018 which amounted to 13.1% yoy. Growth in corporate loans with a share of 49.7% of total lending, recorded a growth of 14.1% yoy. This achievement slowed compared to the previous month at 15.9% yoy. The slowdown also occurred for individual debtors with a 45.9% share of total credit, which recorded a slowing growth from 10.1% yoy to 9.7% yoy in November 2018. Based on the type of usage, the slowdown occurred in all types of good working capital loans (KMK) , investment credit (KI), and consumption credit.


B. Indonesia Corporate Review
1. PT Holcim Indonesia (SMCB)
The company obtained a 40 million euro loan for the operational needs of Holderfin B.V. both of which were signed on December 27, 2018. The company will use 40 million euros in borrowed funds for general operational needs. The maximum withdrawal is done 10 days after the signing of the loan agreement. The company will pay the loan provided that 100% is paid on maturity or 2 years after withdrawal. Meanwhile, the interest charged is 3.37% above the Euro Interbank Offered Rate or Euribor

2. PT Bukit Asam (PTBA)
The company is optimistic that it will achieve its predetermined production and sales targets for 2018 where it targets coal production of 25.54 million tons and coal sales of 25.88 million tons with a composition of 13.74 million tons for the domestic market and 12.15 million tons for export.

3. PT Intraco Penta (INTA)
The company targets an increase in performance in 2019 by 20% to 30% compared to realization in 2018. Until November 2018, INTA carved sales of Rp 1.7 trillion, this value increased by 41% compared to the same period the previous year of Rp 1.2 trillion . The composition of heavy equipment sales by 45% was obtained from the coal mining sector, then 20% from other mining sectors, followed by general industry sales of 12%, and 8% from the infrastructure sector. The company allocated a capital expenditure of Rp 100 billion, of which most of the capex was obtained from INTA internal funds.


C. Market Statistics
(Range while IDX was off)
DJIA +189 +0.82% 23327
NASDAQ +56 +0.85% 6635
GOLD +6.9  +0.54% 1284.7
OIL +0.18 +0.39% 45.84
NICKEL -40  -0.37% 10717.5
TIN +10 +0.05% 19435
EIDO -0.02 -0.08% 24.67
US 10yr -0.02 -0.08% 2.686
INDO 10yr +0.015 +0.19% 7.997
TLK 52.42 (3772)
IDR (Spot) 14390
IDR (Investing, 01/01/19/Fut, 07.00) 14470

IDX Range.      :  6,154 - 6,246
USD/IDR Range: 14,510 - 14,615


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: 10250 - 10525
Daily RLine: 10950 - 10725 - 10600
Daily PP: 10375
Daily SLine: 10250 - 10025 - 9900
Summary: STRONG BUY

3. 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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