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Indonesia Market Today - 28 November 2018

  • Regular
  • Asian Market
  • 3 months ago
  • 70

A. Indonesia Morning Market Review
Wednesday (11/28/2018). Commodity metals markets were hit by a sell-off after the dollar index strengthened and the projected decline in demand resulted in a fall in Tin prices of -3.32%, Nickel -1.22%, Gold -0.64% amid rising DJIA rose + 0.44% & EIDO + 0.33%. We predict that JCI will move sideways today.


B. Indonesia Corporate News
1. PT Adhi Karya (ADHI)
The company won a new contract until November 23, 2018 reaching IDR 12.6 trillion. One of the new contracts is supported by the Deli Serdang dam project which is valued at Rp. 127.7 billion. Based on the segmentation of resources, the realization of the new contract consisted of around 26% of the government, 28% of state-owned companies, and 46% of the private sector. Meanwhile, the type of work is obtained from buildings 62%, roads 17%, and others 21%. Meanwhile, the contribution per business line is still dominated by construction and energy around 90%, property 8%, and others 2%. As for this year, Adhi Karya targets a revenue figure of Rp18.505 trillion. This income will still be received from construction & EPC projects of around 75.5%, precast manufacturing 3.3%, and property around 21.2%. The consolidated net profit is targeted to reach Rp929 billion.

2. PT Nusantara Infrastructure (META)
The company, which is now controlled by two new shareholders, namely PT Metro Pacific Tollways Indonesia and Indonesia Infrastructure Finance, requires a minimum capital expenditure of Rp 3 trillion, excluding toll road investment needs. Peesalnya is also awaiting the principle permit for the construction of the 36.50 km Cikunir-Ulujami Toll Road with an estimated investment cost of Rp 22.5 trillion. The company targets principle permits to be obtained this year so that next year will be included in the tender process.

3. PT Waskita Karya (WSKT)
The WSKT subsidiary, Waskita Toll Road has increased paid-up capital and placed in cash to Waskita Bumi Wira (WBW). The amount disbursed by the company is valued at Rp1.26 trillion. With the transaction, the WTR ownership structure in WBW becomes 99.90% or equivalent to 2,985,921 shares. The value of share ownership is equivalent to IDR2.98 trillion rupiah.

4. PT Agung Podomoro Land (APLN)
Moody's decided to lower its APLN rating and global debt issued by its subsidiary APL Realty Holdings Pte. Ltd. from Ba3 to B1 with a stable outlook. The rating downgrade reflects Moody's expectations that Agung Podomoro's credit metrics will weaken to levels that no longer match Ba3's ratings.


C. Market Statistics
DJIA +108.5 +0.44% 24748
NASDAQ +0.85 +0.01% 7082
GOLD -7.9 -0.64% 1220.8
OIL +0.31 +0.6% 51.9
COAL (Nov/Newcastle) -0.35 -0.34% 101.4
COAL (Nov/Rotterdam) +0.75 +0.85% 88.55
NICKEL -132.5 -1.22% 10745
TIN -625 -3.32% 18202.5
CPO (Nov) +1 +0.05% 1966
EIDO +0.08 +0.33% 24.53
US 10yr -0.017 -0.55% 3.055
INDO 10yr -0.0912 -1.12% 8.0371
INDO CDS +3.535 +2.4% 150.98
TLK 53.66 (3894)
IDR (Spot) 14515
IDR (Investing, 28/11/18/Fut, 04.10) 14533

IDX Range.      :  5,967 - 6,038
USD/IDR Range: 14,480 - 14,560


D. Stock Picks
1. BBCA
52Week Price Range: 20350 - 25500
Monthly RLine: 26534 - 25367 - 24509
Monthly PP: 23342
Monthly SLine: 22484 - 21317 - 20459
Summary: STRONG BUY

2. ASII
Daily Price Range: 8225 - 8450
Daily RLine: 8491 - 8458 - 8391
Daily PP: 8358
Daily SLine: 8291 - 8258 - 8191
Summary: STRONG BUY

3. ICBP
Daily Price Range: 8875 - 8975
Daily RLine: 9091 - 9033 - 8966
Daily PP: 8908
Daily SLine: 8841 - 8783 - 8716
Summary: STRONG BUY


Smart Trend Team (GR)
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