Indonesia Market Today - 26 June 2020
A. INDONESIA MORNING MARKET REVIEW
Friday (26/06/2020). The European Central Bank (ECB) statement is preparing new liquidity facilities for central banks outside the euro area and a Federal Deposit Insurance Commission (FDIC) statement that will allow banks to easily invest large amounts into companies such as venture capital and banks not need to prepare additional cash for derivative traders in the same money company as a catalyst for the DJIA increase by + 1.18% and combined with an increase in EIDO by + 0.11% has the potential to be a positive sentiment on the Indonesia Stock Exchange in trading this Friday amid the highest number of returning victims who are infected and killed as a result of Corvid19, where on Thursday the number of victims infected by Corvid19 continues to increase to +1,178 people so far the number of victims infected by Corvid19 has reached 50,187 people (estimated to reach 100,000 people infected) with an additional death toll on Thursday of +47 people so far death toll has reached 2,620 people to 3,000 people killed in the near future, (Fatality Rate of 5.22%).
Furthermore, rising prices for some commodities such as: Oil + 2.55% & Gold + 0.11% have the potential * to push up stocks below those commodities * in trading this Friday.
Knowing enough positive sentiments for the JCI there is a chance JCI rebound, during the Friday session amid valuations many stocks are very attractive to buy, we recommend being very selective if investors want to do BOW, especially stocks that will distribute dividends, or Swing Trade can then focus on stocks from the Bank, Gold Metal, Coal, Infrastructure, Telko, Consumer, and Retail sectors in this Friday trade.
Government cuts the Corporate Income Tax rate from 25% to 22% from 2020.
Through PP No. 30 of 2020 concerning Reduction of Income Tax Rates for Domestic Corporate Taxpayers in the form of a public company, the Government is really accelerating the reduction of income tax rates (PPh) for corporate taxpayers in the form of public companies starting in 2020, from 25% to 22% applicable to tax years 2020 and 2021. Rates will return to 20% and come into force in tax year 2022.
B. INDONESIA CORPORATE NEWS
1. PT Indopoly Swakarsa Industry (POLI)
In the first quarter of 2020, the company posted a profit of USD1.01 million, a decrease of 9.40% compared to the same period in 2019 amounting to USD1.11 million. Meanwhile, until the end of the company`s sales, it dropped 5.85% to Rp48.60 million from USD51.62 million in the same period in 2019.
2. PT Buana Lintas Lautan (BULL)
The company recorded a net profit of USD19.7 million in the first quarter of 2020, an increase of 380.1% compared to the first quarter of 2019 of USD4.1 million. Meanwhile, the company posted revenues of USD43.1 million, up 84.18% compared to the first quarter of 2019 of USD23.4 million. Overall, the effective tonnage capacity of the fleet increased from 875,142 DWT to 1,716,107 DWT, an increase of 96.1%. The number of tankers has increased from 17 to 30.
3. PT Tunas Ridean (TURI)
For the sake of maintaining the development of the rental and automotive business, the company has prepared a capex of Rp.476 billion in 2020. Capex expansion is adjusted to reduce the company`s opex (operational expenditure) by up to 16%. The distribution of funds amounting to Rp476 billion was, among other things, to support the rental vehicle business worth Rp344 billion. While the remaining Rp. 132 billion for automotive financing.
4. PT Catur Sentosa Adiprana (CSAP)
The Company continues to expand Mitra10 by conducting the 35th Grand Opening of Mitra10 occupying an area of 15,000m2 of land located on Terusan Bung Hatta Street, Monjok, Mataram, Lombok, NTB. The company previously targeted to have 50 outlets in 2021. Whereas previously in 2019 CSAP had opened 5 new Mitra10 branches in the cities of Cirebon, Yogyakarta, Surabaya, Makassar and Solo.
5. PT Sunson Textile Manufacturer (SSTM)
The company until the end of the quarter 1/2020 posted Rp 103.37 billion, up 5.44% compared to the same period in 2019 amounting to Rp 98.03 billion. The company posted a net profit for the current year of Rp 3.56 billion in the first quarter of 2020, up 81.29% when compared to the same period in 2019 of Rp 1.96 billion.
C. MARKET STATISTICS
*DJIA +299 +1.18% 25745*
*NASDAQ +107.8 +1.09% 10017*
*GOLD +2 +0.11% 1774*
*OIL +0.97 +2.55% 39.4*
COAL (July/Newcastle) -0.55 -1.04% 52.10
NICKEL -37.5 -0.30% 12477.5
TIN -42.5 -0.26% 16602.5
CPO (Jul`20) -30 -1.18% 2512
*EIDO +0.02 +0.11% 18.61*
US 10yr -0.010 -1.46% 0.6740
INDO 10yr -0.0099 -0.13% 7.3922
INDO CDS (5yr) +3.184 +2.39% 136.181
TLK 44.36 (3144) vs 3160 (TLKM)
IDR (Spot) 14,175
IDR (Bloomberg, 26/06/20/Fut, 04.35) 14,175
*IDX Range : 4,861 - 4,944*
*USD/IDR Range: 14,110 - 14,240*
D. STOCK WATCHLIST
BBCA, MDKA, PTBA, BBNI, JSMR, BBRI, TLKM, ICBP, ERAA, ACES.
GFS ASIA TEAM
- just now