Indonesia Market Today - 12 June 2020
A. INDONESIA MORNING MARKET REVIEW
Friday (12/06/2020). Due to fears of a second wave of Corvid19 attacks, the index on Wall Street falls where the DJIA drops by -6.90% (the biggest decline since March 2020) and when combined with an EIDO fall of -6.79% it can be it is suspected that the CSPI will follow in this Friday`s trade amid the highest number of victims re-infected and killed as a result of Corvid19, especially if the PSBB is abolished, where Corona Virus on Thursday infected 979 people so far the Corvid19 infected has reached around 35,295 people (estimated to reach 40,000 people infected) with the addition of yesterday`s death toll of +41 people so far the death toll has reached 2,000 people to 2,200 people killed in the near future, (Fatality Rate of 5.67%).
Furthermore, the same fear also hit commodity markets so that commodity prices fell like: Oil -7.51%, Gold -0.72%, Nickel -1.33%, Nickel -2.75% & Coal -1.5% so that the potential to pull down shares under these commodities in trading This friday.
Knowing that IHSG has the opportunity to go back down on the 4th day, making valuations of many stocks very attractive to buy again, we recommend being very selective if investors want to do BOW or Swing Trade so they can focus on stocks from the Coal, Nickel Metal, Bank, Poultry, Cement, Infrastructure and Retail trade this Friday.
B. INDONESIA CORPORATE NEWS
1. PT Barito Pacific (BRPT)
Until the first quarter of 2020, the Company recorded a net loss of USD2.08 million, while the first quarter of 2019 recorded a net profit of USD5.6 million. Meanwhile, revenues in the first quarter of 2020 amounted to USD610.6 million, down 10.16% compared to the end of March 2019 which was recorded at USD679.2 million.
2. PT Barito Pacific (BRPT)
The company decided to postpone a series of business plans that were supposed to be carried out this year so that the impact would be to adjust capital expenditure allocations (capex), which were cut from US $ 525 million to US $ 185 million. The allocation cut was the most used for the Chandra Asri alias CAP II plant construction project of US $ 135 million from US $ 430 million and the rest for Star Energy from initially US $ 80 million. The delay consisted of the withdrawal of the final investment decision (FID) target in CAP II, which was targeted at 2021 to 2022. While at Star Energy, there was a delay in the implementation of the drilling program to 2021 to ensure the BRPT could operate optimally this year.
3. PT Hero Supermarket (HERO)
The company in the first quarter of 2020 recorded a swollen loss to Rp43.56 billion, an increase of 1137% compared to a loss of Rp3.52 billion in the same period in 2019. In addition, the company`s sales and operating income dropped 15% to Rp2.60 trillion from sales and revenues business of Rp3.06 trillion in 2019.
4. PT Superkrane Mitra Utama (SKRN)
In the first quarter of 2020, the company recorded a loss of Rp.33.63 billion, in sharp contrast to the first quarter of 2019 profit of Rp22.36 billion. In addition, the company achieved net income of Rp.135.31 billion as of March 31, 2020, down 14.83% from net revenue of Rp. 158.88 billion in the same period in 2019.
5. PT Bumi Serpong Damai (BSDE)
The company plans to issue new shares through HMETD alias rights issue as much as 1.92 billion shares or 10% shares. Thus, the company`s outstanding shares will increase to 21.17 billion from 19.24 billion shares per June 26 with a nominal value of Rp100. The implementation price will be at least 90 percent of the average of the closing average price within the last 25 days.
6. PT Bank Bukopin (BBKP)
The Financial Services Authority (OJK) Thursday, June 11, 2020 has received a statement from Kookmin Bank, the largest financial group in South Korea, which currently owns 22% of BBKP shares and is ready to become a Single Controlling Shareholder (PSPT) by taking ownership of at least 51% BBKP shares.
C. MARKET STATISTICS
DJIA -1861 -6.90% 25128
NASDAQ -527.6 -5.27% 9492
GOLD -12.6 -0.72% 1734
OIL -2.94 -7.51% 36.18
COAL (July/Newcastle) -0.80 -1.5% 52.40
NICKEL -357.5 -2.74% 12645
TIN -229.5 -1.33% 16962.5
*CPO (Jul`20) +12 +0.50% 2389*
EIDO -1.30 -6.79% 17.85
US 10yr -0.0950 -12.70% 0.6530
INDO 10yr -0.0748 -1% 7.4340
INDO CDS (5yr) +13.383 +11.311% 131.701
TLK 41.96 (2941)
IDR (Spot) 14,020
IDR (Bloomberg, 12/06/20/Fut, 04.55) 14 020
*IDX Range : 4,710 - 4,882*
*USD/IDR Range: 13,960 - 14,090*
D. STOCK WATCHLIST
PTBA, INCO, BBNI, JPFA, INTP, BBRI, CPIN, TOWR, SMGR, UNVR.
GFS ASIA TEAM
- just now