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Indonesia Market Today - 29 May 2020

A. INDONESIA MORNING MARKET REVIEW

Friday (29/05/2020)

After the DJIA rose a few days earlier around +1340.1 points (+ 5.44%), finally DJIA last night fell by -147.63 points (-0.58%) as political tensions between the US vs. China related to Hong Kong followed the passing of a new national security law (National Security Bill) for Hong Kong has the potential to be a negative sentiment for trading this Friday amid the continued increase in the number of victims infected and killed, especially if the PSBB is relaxed, where Corona virus has infected 24,538 people (estimated to reach 26,000 people infected) with a death toll of 1,496 people, (( leading to 1,600 people killed, (Fatality Rate of 6.10%).

On the other hand, rising commodity prices such as: Oil + 5.06%, Gold + 0.31%, Tin + 0.78% & Nickel + 0.93% have the potential to be a catalyst driving up commodity-based shares in today`s trading amid an EIDO increase of + 2.30%.

Foreign investors who continue to record Net Sell where YTD (as of May 28, 2020) reaches Rp -28.28 trillion making valuations there are still quite a lot of interesting stocks to buy, we recommend being very selective if investors who want to do BOW or Swing Trade can focus on shares from the Bank, Cement, Automotive, Retail, CPO, Coal and Construction sectors in this Friday trade.

 

B. INDONESIA CORPORATE NEWS

1. PT Jasuindo Tiga Perkasa (JTPE)

The company until the end of 2019 posted a net profit of Rp168.04 billion, up 50% compared to the same period in 2018 amounting to Rp112.25 billion. Meanwhile, until the end of 2019 the company recorded a net sales of Rp1.43 trillion, up 13.49% compared to the same period in 2018 of Rp1.26 trillion.

 

2. PT Wahana Ottomitra Multiartha (WOMF)

The Company temporarily closed 40 Offices other than Branch Offices until July 31, 2020 and will affect revenue by 25%. The company also laid off 103 employees and 2262 employees with 50% salary deductions. With an estimated decrease in total revenue and net profit for the period ending March 31, 2020 or April 30, 2020, reaching 25% of the total revenue for the same period in 2019.

 

3. PT Bayan Resources (BYAN)

The covid outbreak affected several Subsidiaries of the Company to temporarily stop its production operations, namely: 1. PT Bara Tabang - Tabang site, East Kalimantan. 2.PT Fajar Sakti Prima - Tabang site, East Kalimantan. 3.PT Indonesia Pratama - Tabang site, East Kalimantan. With the estimated decrease in total revenue and net profit for the period ended March 31, 2020 or April 30, 2020 it reached 51% - 75% of the total revenue for the same period in 2019.

 

4. PT Waskita Beton Precast (WSBP)

The covid outbreak had an impact on the operational shutdown of some of the company`s businesses for 1-3 months and had an impact on meeting the principal debt obligations of Rp949.49 billion. With an estimated decrease in total revenue and net profit for the period ending March 31, 2020 or 30 April 2020, reaching 75% of the total revenue for the same period in 2019.

 

5. PT Tunas Baru Lampung (TBLA)

The company until the first quarter of 2020 posted a decrease in net profit of 50.09% to Rp101.50 billion compared to the same period in 2019 of Rp203.20 billion. Meanwhile, the company`s operating income in the first quarter of 2020 rose 27.25% to Rp2,765 trillion when compared to the same period in 2019 of Rp2,172 trillion.

 

6. PT Sentul City (BKSL)

The company posted a decrease in net profit in 2019 reaching 85.26% to Rp49.50 billion compared to the same period in 2018 of Rp335.87 billion. In addition, the company`s decline posted a net income of 27.74% to Rp951.42 billion as of December 31, 2019 compared to the same period in 2018 of Rp1.32 trillion.

 

7. PT Distribution Voucher Nusantara (DIVA)

The company recorded a net profit increase of 850.6% to Rp 93.6 billion in 2019 from Rp 9.9 billion in the same period in 2018. The increase was in line with the company`s sales which rose 138.7% from Rp1.5 trillion in 2018 to Rp3.6 trillion in 2019.

 

8. PT Mulia Boga Raya (KEJU)

The Company until the end of 2019 posted a profit for the current year of Rp98.04 billion, up 46.2% compared to the same period in 2018 of Rp67.4 billion. Meanwhile, the company`s net sales in 2019 amounted to Rp978.8 billion, up 14.25% compared to the same period in 2018 of Rp856.7 billion.

 

C. MARKET STATISTICS

*DJIA -147.63 -0.58% 25400*
*NASDAQ -43.37 -0.46% 9368*
*GOLD +5.40 +0.31% 1732.20*
*OIL +1.62 +5.06% 33.64*
*COAL (July/Newcastle) -0.30 -0.53% 55.90*
*NICKEL +95 +0.78% 12240*
*TIN +142.5 +0.93% 15507.5*
CPO (Jul`20) +2 +0.09% 2306
*EIDO +0.38 +2.30% 16.90*
US 10yr +0.0250 +3.68% 0.7050
INDO 10yr +0.1409 +1.89% 7.628
*INDO CDS (5yr) +0.215 +0.13% 162.216*
*TLK 42.16 (3102)*
IDR (Spot) 14,715
IDR (Bloomberg, 29/05/20/Fut, 04.55) 14,715

*IDX Range : 4,677 - 4,758*
*USD/IDR Range: 14,660 - 14,790*

 

D. STOCK WATCHLIST
BBRI, PTBA, PWON, SMGR, WIKA, EXCL, BSDE, AALI, ERAA, TOWR.

 

 

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