Indonesia Market Today - 6 May 2020
A. INDONESIA MORNING MARKET REVIEW
Wednesday (06/05/2020). The combination of rising commodity prices such as WTI Crude Oil by + 19.75%, Coal + 1.17%, Nickel + 1.88%, Lead + 0.63%, CPO + 0.50%, Gold + 0.20% and DJIA strengthening by + 0.56% become * catalysts driving IHSG to strengthened in trading this Wednesday * amid no visible signs of a decline or continued increase in the number of victims infected and killed in Indonesia where * Corona Virus has infected 12,061 people (to 13,000 people) with 872 dead, to 1,000 killed, (Fatality Rate of 7.22%) *.
Knowing that IHSG has the opportunity to continue its strengthening *, amid foreign investors who continue to record Net Sell where YTD has reached Rp-19.71 trillion and valuation of enough shares to be very attractive to buy, we recommend very selective if investors want to do BOW or Swing Trade so they can focus on shares of Retail, Bank, Coal, FMCG, Infrastructure, Gold Metals, Cigarettes and construction this Wednesday.
B. INDONESIA CORPORATE NEWS
1. PT Waskita Karya (WSKT)
The company is proposing relaxation of debt repayments, including extending the tenor and reducing interest, to several banks including: having short-term bank loans Waskita Karya`s short-term debt reached Rp 45.02 trillion, with details to PT Bank Mandiri Tbk of Rp 2.29 trillion, PT Bank Negara Indonesia Tbk Rp 2.2 trillion, PT Bank Rakyat Indonesia Tbk Rp 1.43 trillion, and Bank Syariah Mandiri Rp 1.5 trillion. There are also debts to PT Bank Pan Indonesia Tbk Rp. 2.4 trillion, PT Bank BTPN Tbk Rp. 1.65 trillion, and PT Bank Pembangunan Daerah in West Java and Banten Tbk Rp. 1.59 trillion.
2. PT Delta Jakarta (DLTA)
The company experienced a decrease in net profit attributable to owners of the parent entity until the period March 31, 2020 to Rp42.43 billion from a profit of Rp85.66 billion in the same period in 2019. Meanwhile, until the quarter 1/2020, the company`s net sales fell to Rp153, 06 billion compared to the same period in 2019 amounting to Rp226.76 billion.
3. PT Indofarma (INAF)
The company adjusted its 2020 performance target due to the corona outbreak. Furthermore, the roadmap becomes BUMN Alkes, the company will produce disposable medical products such as syringes, surgical sutures, infusion equipment. In addition the company also manufactures medical devices for medical devices, for dialysis and ventilator production. On the other hand, the company until the end of the quarter 1/2020 recorded a loss that could be attributed to the owner of the parent entity amounting to Rp 21.43 billion or a slight decrease of 1.56% compared to the same period in 2019 of Rp 21.77 billion. On the other hand, INAF`s net sales grew 8.73% yoy to Rp billion in the first quarter of 2020. The drug segment dominated sales, reaching Rp 125.43 billion, equivalent to 84.65% of total net sales. The next contribution is the medical device and other products segment with a value of Rp. 21.99 billion, and the pharmaceutical engineering segment with a value of Rp. 745 million.
4. PT Mahkota Group (MGRO)
The impact of the Corona virus is likely to reduce global CPO demand by up to 20%, so the company lowered its initial profit and sales target so far this year to around 30% so the net profit target, which was originally Rp 132 billion, has now shrunk to Rp 90 billion.
5. PT Trisula Textile Industries (BELL)
Until the end of 2019, the Company recorded a net profit of Rp23.21 billion, down 3.36% compared to the same period in 2018 of Rp24.02 billion. Meanwhile,
net sales of IDR714.33 billion up to the 31 December 2019 period increased 3.30% compared to the same period in 2018 of IDR691.48 billion.
C. MARKET STATISTICS
*DJIA +133.33 +0.56% 23883*
NASDAQ +98.41 +1.13% 8809
GOLD +3.35 +0.20% 1714.15
*OIL +4.18 +19.75% 25.34!!*
*COAL (June/Newcastle) +0.60 +1.17% 52.05*
*NICKEL +222.5 +1.88% 12030*
*TIN +95 +0.63% 15210*
*CPO (Jun`20) +10 +0.50% 2007*
EIDO -0.02 -0.12% 15.99
US 10yr +0.026 +4.16% 0.664
INDO 10yr +0.099 +1.23% 8.174
*INDO CDS (5yr) -8.146 -3.64% 215.914*
*TLK 43.02 (3244)!!*
IDR (Spot) 15,080
IDR (Investing, 06/05/20/Fut, 04.55) 15,080
*IDX Range : 4,590 - 4,670*
*USD/IDR Range: 15,015 - 15,150*
D. STOCK WATCHLIST
MAPI, BBCA, ITMG, UNVR, JSMR, AKRA, INCO, MDKA, HMSP, WIKA.
GFS ASIA TEAM
- just now