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Indonesia Market Today - 19 May 2020

A. INDONESIA MORNING MARKET REVIEW

Tuesday (19/05/2020). After the biotechnology company Moderna Inc. said initial tests for the corona virus vaccine produced promising results from a small number of samples pushing the DJIA strengthening by + 3.85% and combined with an EIDO strengthening of + 3.77% could potentially be a catalyst driving the CSPI to strengthen in this Tuesday trade amid continued increasing numbers of victims infected and killed, even increasing because of the increasingly ignorance of Indonesian people will Corvid19, due to Corona Virus in Indonesia more and more where Corona Virus has infected 18,010 people (to 20,000 people) with 1,191 people killed, to 1,300 people killed, (Fatality Rate of 6.61%)

Furthermore, the strengthening of commodity prices such as: Oil + 11.25%, Coal + 0.19%, CPO + 3.02%, Nickel + 3.68% & Tin + 0.18% has the potential to encourage strengthening of commodity-based shares in trading this Tuesday.

Knowing that IHSG has the potential to rebound, amidst foreign investors who continue to post Net Sell where YTD (as of May 18, 2020) reaches Rp -25.62 trillion and valuations there are still quite many interesting stocks to buy, we recommend it very selectively if investors want to do BUY or Swing Trade, then they can focus on stocks from the Coal, Automotive, Gold Metal, Infrastructure, Telko, Oil, CPO and Retail sectors in this Tuesday trade.

 

Corona impact, the government widens the 2020 State Budget deficit to 6.27%.

The government pegged the 2020 State Budget deficit of 6.27% of GDP. This is due to the further impact of the corona virus disease 2019 (Covid-19) which makes the durability of the state budget more fragile. Nominally, this year`s APBN deficit widened to Rp 1,028.5 trillion. Whereas before the government had set a deficit of 5.07% of GDP or equivalent to Rp 852.9 trillion.

 

B. INDONESIA CORPORATE NEWS

1. PT Ciputra Development (CTRA)

The company posted revenue of Rp 1.5 trillion in the first quarter of 2020, down 8.53% compared to the same period last year of Rp 1.64 trillion. The correction in the company`s revenue affected net profit which fell 37.3% to Rp 177.5 billion from Rp 283.1 billion. Ciputra`s revenue was still supported by net sales from residential houses and shop houses which were recorded at Rp 779.75 billion as of March 2020, down 11.23% compared to the same period last year of Rp 878.42 billion. Meanwhile, office sales increased 95.31% from Rp 112.70 billion to Rp 220.12 billion this period. In addition, land plots sales contributed Rp 41.24 billion, down 34.18% compared to last year`s land sales of Rp 62.66 billion. Meanwhile, apartment sales were corrected in up to 89.35% to Rp 15.44 billion, whereas the apartment sales in the same period last year were recorded at Rp 145.01 billion.

 

2. PT Bumi Serpong Damai (BSDE)

During the 1/2020 quarter, the company posted pre-sales or marketing sales revenue of Rp 1.79 trillion, equivalent to 25% of the 2020 target of Rp 7.2 trillion. When compared to the first quarter of 2019, the company`s marketing sales rose 9.8% from Rp 1.63 trillion. Residential sales in the first quarter of 2020 reached Rp 1.06 trillion or contributed 59% to Bumi Serpong Damai`s total marketing sales. Meanwhile, sales of commercial products reached Rp 734 billion or contributed 41% to total marketing sales.

 

3. PT Surya Esa Perkasa (ESSA).

The company posted revenues of US $ 62.93 in the first quarter of 2020, an increase of 8.4% compared to the same period in 2019 of US $ 58.05 million. Meanwhile, during the first quarter of 2020 the company posted a profit of US $ 1.03 million, down 78.47% yoy compared to the same period in 2019 of US $ 4.80 million.

 

4. PT Sarana Menara Nusantara (TOWR)

Until the end of the first quarter of 2020, the company recorded a profit for the current year of Rp518.95 billion, a 9.7% growth compared to the same period last year of Rp472.46 billion. Meanwhile, revenues in the first quarter of 2020 amounted to Rp1.81 trillion, up 22.29% compared to the same period in 2019 amounting to Rp1.48 trillion.

 

5. PT Saraswati Anugerah Makmur (SAMF)

The company recorded sales of Rp1.28 trillion up to the 31 December 2019 period, an increase compared to the same period in 2018 of Rp1.20 trillion. Meanwhile, until the end of 2019, the profit attributable to the owners of the parent entity was IDR82.12 billion, up from IDR81.53 billion profit in 2018.  

 

C. MARKET STATISTICS
*DJIA +911.95 +3.85% 24597*
*NASDAQ +220.2 +2.44% 9234*
*GOLD -22.2 -1.26% 1734.1*
*OIL +3.31 +11.25% 32.74*
*COAL (June/Newcastle) +0.10 +0.19% 53.90*
*NICKEL +435 +3.68% 12260*
*TIN +27.5 +0.18% 15277.5*
*CPO (Jun`20) +64 +3.02% 2180*
*EIDO +0.59 +3.77% 16.22*
US 10yr +0.1040 +16.25% 0.7440
INDO 10yr -0.0844 -1.05% 7.9455
INDO CDS (5yr) -9.914 -4.81% 195.994
*TLK 43.78 (3250)*
IDR (Spot) 14,850
IDR (Bloomberg, 19/05/20/Fut, 04.45) 14,850

*IDX Range : 4,492 - 4,572*
*USD/IDR Range: 14,780 - 14,910*

 

D. STOCK WATCHLIST
ADRO, ASII, MDKA, PGAS, TLKM, PTBA, TOWR, MEDC, AALI, ERAA.

 


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