Indonesia Morning Market - 30 July 2020
A. INDONESIA MORNING MARKET REVIEW
Thursday (30/07/2020). The Fed`s detention of the FFR interest rate following US economic data which is quite conducive is a driving factor for the DJIA to strengthen by + 0.61% overnight where the DJIA rebound has the potential to be a JCI catalyst to strengthen in trading on Thursday amid the highest number of returning victims who were infected and killed as a result of Corvid19, where * on Wednesday there were +2,381 people infected with Corvid * so that so far the victims infected with Corvid19 reached 104,432 people (success far surpassing China, allegedly the Corona Virus initial state) with an additional death toll on Wednesday of +74 people so far the death toll has reached 4,975 people, reaching 5,000 people killed on Thursday, (Fatality Rate of 4.76%) *.
Furthermore, rising prices for some commodities such as: Oil + 0.58%, Gold + 0.71%, CPO + 1.04%, Coal + 0.78% & Nickel + 1.57% have the potential to push up commodity-based stocks in trading this Thursday.
Knowing that IHSG has a chance to rebound in Thursday`s trade amid valuations that many stocks are very attractive to buy, we recommend being very selective if investors want to do BUY or Swing Trade so they can focus on stocks from the Cigarette, Consumer, Infrastructure, CPO, Lead Metal and Basic Industry in Thursday trade.
B. INDONESIA CORPORATE NEWS
1. PT Waskita Beton Precast (WSBP)
Bad news came from WSBP * following PT Indonesian Central Securities Depository (KSEI) reported * delaying interest payments to bondholders * issued by WSBP. KSEI revealed that the Waskita Beton Precast Phase II Year 2019 Sustainable Interest Bonds have not been effective in KSEI`s account in the determined time. KSEI data shows that the Waskita Beton Precast Phase II Year 2019 Sustainable Bonds have a principal amount of Rp1.5 trillion. The bonds have a fixed coupon of 9.75 percent with a frequency of coupon payments every 3 months.
2. PT Astra Internasional (ASII)
Until the end of semester 1/2020, the company posted a profit attributable to the owners of the parent entity amounting to Rp11.38 trillion, up 16% compared to the same period in 2019 of Rp9.80 trillion. Meanwhile, until the end of semester 1/2020, the company`s net income fell -22.71% to Rp89.79 trillion from Rp116.18 trillion in the same period in 2019.
3. PT Vale Indonesia (INCO)
The company posted revenues of US $ 360.37 million in semester I / 2020, up 23.29% compared to the same period in 2020 of US $ 292.25 million. Meanwhile, the company posted a net profit for the year of US $ 53.12 million in semester I / 2020 or a sharp increase of + 303% compared to the performance of semester I / 2019 which lost US $ 26.17 million.
4. PT Gudang Garam (GGRM)
Until the end of semester I-2020, the company recorded profit attributable to the ownership of the parent entity of Rp3.82 trillion, down 10.74% compared to the same period in 2019 of Rp4.28 trillion. Meanwhile, the company posted revenue of IDR53.65 trillion up to the period June 30, 2020, up 1.72% compared to the same period in 2020 of IDR52.74 trillion.
5. PT Bank Pan Indonesia (PNBN)
Up to semester 1/2020, the company recorded a net profit attributable to the owners of the parent entity of Rp 1.29 trillion, down -18.49% compared to the same period in 2019 of Rp 1.59 trillion. In that period, the company posted net interest income (NII) of Rp 4.45 trillion, up 2.43% YoY from Rp 4.34 trillion at the end of June 2019. While the base fee income fell 34.98% to Rp 246, 29 billion from before in the same period the previous year valued at Rp 378.81 billion. The company`s NPL until the end of June was 3.07%, up from the June 2019 position of 3%. ROA of 1.62% decreased from 2.01% and ROE of 6.64% which also fell from the position of 8.75%. The company`s NIM edged up to 4.61% from the previous end of June of 4.43%. CAR of 25.94%, up 23.35% YoY.
6. PT Bank Pembangunan Daerah Jawa Barat and Banten (BJBR)
As of June 30, 2020, the company booked a net profit of Rp807.48 billion, an increase of 1% compared to the same period in 2019 of Rp799.99 billion. Meanwhile, interest and sharia income in the first half of 2020 reached Rp 6.05 trillion, an increase of 2.19 percent compared to the acquisition in Semester I-2020 which amounted to Rp 5..92 trillion. With the profit for the year attributable to non-controlling interests amounting to Rp445 million, the total net profit of BJBR during semester 1/2020 was Rp807.48 billion.
7. PT Kimia Farma (KAEF)
The company`s revenue until the first quarter of 2020 amounted to Rp2.40 trillion, up 32.37% compared to the same period in 2019 amounting to Rp1.81 trillion. Meanwhile, the company also recorded an increase in EBITDA in the first quarter of 2020 amounting to Rp246.9 billion, up 85.37% compared to the same period in 2019 of Rp133.2 billion.
8. PT Hero Supermarket (HERO)
Until the end of semester I-2020 the company posted a loss of Rp202 billion or * fell very sharply -2625% * compared to the period there 2019 still posted a profit of Rp8 billion.
9. PT Clipan Finance (CFIN)
Until the end of semester 1/2020, the company posted revenue of Rp977.35 billion, down from Rp1.06 trillion in the same period the previous year. In addition, net income for the current period fell -36.43% to Rp102.75 billion compared to the same period in 2019 of Rp161.64 billion.
C. MARKET STATISTICS
*DJIA +160.29 +0.61% 26539*
*NASDAQ +140.85 +1.35% 10542*
*GOLD +13.9 +0.71% 1964.50!*
*OIL +0.24 +0.58% 41.32*
*COAL (Aug/Newcastle) +0.40 +0.78% 52.00*
*NICKEL +215 +1.57% 13910*
TIN -47.5 -0.26% 17960
*CPO (Aug`20) +28 +1.04% 2720*
EIDO -0.03 -0.16% 18.95
US 10yr -0.0020 -0.34% 0.5790
INDO 10yr +0.0277 +0.39% 7.0751
INDO CDS (5yr) +0.125 +0.106% 117.884
*TLK 41.04 (2984) vs 3000 (TLKM)*
IDR (Spot) 14,542.5
IDR (Bloomberg, 30/07/20/Fut, 04.55) 14,542.5
*IDX Range : 5,062 - 5,146*
*USD/IDR Range: 14,480 - 14,620*
D. STOCK WATCHLIST
GGRM, UNVR, TBIG, AALI, ACES, TINS, LSIP, TKIM, WIIM, GJTL.
GFS ASIA TEAM
- just now