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Indonesia Morning Market - 10 August 2020

A. INDONESIA MORNING MARKET REVIEW

Monday (10/08/2020). After a week ago, JCI fell slightly by -0.11% accompanied by Net Sell by Foreign Investors of IDR -3.30 trillion, at the beginning of this week, Monday, * JCI has the opportunity to continue its fall * along with the decline in EIDO by -2.13% and the decline in commodity prices such as: Oil -0.83 %, Gold -1.13%, Nickel -0.66%, Tin -0.48% and CPO -0.56% amidst the achievement of the highest number of victims infected and killed due to Corvid19, where in 3 days (Friday to Sunday) the number of victims infected with Corvid19 broke a record the highest only reached +6,643 people * so that so far the number of victims infected by Corvid19 has reached 125,396 people (estimated to be 150,000 people infected) with the addition of the death toll for 3 days of +202 people so far the death toll has reached 5,723 people, leading to 6,000 people killed in near time, (Fatality Rate of 4.56%) *.

 

 

B. INDONESIA CORPORATE NEWS

1. PT Telekomunikasi Indonesia (TLKM)
Until the end of semester 1/2020, the company posted a net profit of Rp.10.98 trillion or a slight decrease of -0.8% compared to the same period in 2019 of Rp. 11.08 trillion. In details, this revenue was supported by Telkomsel, which recorded growth in the digital business by 13.5% to Rp. 31.9 trillion, with total contributions growing to 72.4% of Telkomsel`s total revenue. Furthermore, this performance was contributed by 160.1 million subscribers, with mobile data subscribers totaling 105.1 million. In addition, until the end of semester 1/2020, the company posted revenues of IDR 66.85 trillion, down 3.58% from IDR 69.34 trillion in the same period in 2019.

 

2. PT Indocement Tunggal Prakarsa (INTP)
Until the end of semester 1/2020, the company posted a domestic cement sales volume of 7.3 million tons, down -11.9% (-994 thousand tons), lower than sales for the same period in 2019. Meanwhile, national domestic cement demand also fell by -7.7% resulted in a decrease in the company`s market share from 26.2% in Semester I / 2019 to 26.0% in Semester 1/2020. Until the end of semester 1/2020, the Company`s net income decreased by -11.6% to IDR 6.2 trillion (Semester 1/2019 IDR 7.0 trillion) due to decreased volume. Net profit for the period in Semester 1/2020 decreased -26.6% to IDR470.0 billion (First Half 2019: IDR640.0 billion) due to lower volume.

 

3. PT Hartadinata Abadi (HRTA)

As of semester 1/2020, the company posted an increase in revenue of 10.73% to IDR 1.96 trillion in semester 1/2020, compared to the same period in 2019 of IDR 1.77 trillion. The increase was supported by sales growth in precious metals. However, with an increase in financial expenses to Rp 42.41 billion, until the end of semester 1/2020 the company`s profit for the current period fell by 8.81% to Rp 78.76 billion, compared to the same period last year of Rp 86.37 billion.

 

4. PT United Tractors (UNTR)

The company prepares funds of up to Rp 1.5 trillion as a standby buyer for additional capital by means of HMETD or rights issue * PT Acset Indonusa Tbk (ACST) *. Currently, Acset is waiting for an effective statement from OJK regarding the rights issue. Until the first semester of 2020, UNTR has spent capital expenditure (capex) of IDR 1.3 trillion or 37.14% of the total budget throughout 2020 which reached IDR 3.5 trillion. Most of the capex is for the purchase of heavy equipment as a replacement for mining contractors.

 

5. PT Adaro Energy (ADRO)

The company lowered its coal production target in 2020 by 10% to around 49-52 million tons from the initial target of around 54-58 million tons, in line with the current weakening of the coal market.

 

6. PT Waskita Karya (WSKT)

The company posted a new contract value of IDR 8.13 trillion as of the end of June 2020. Of the total new WSKT contract value in the first semester, around 58% were toll road projects. These projects include the Bogor toll road. Ciawi. Sukabumi packages III and IV with a contract value of Rp.3.3 trillion and the Pasuruan - Probolinggo section IV toll road with a value of Rp1.3 trillion. This year, the company targets a new contract value of IDR 26 trillion. As of June 2020, the company has booked 30% of the target value for new contracts.

 

 

C. MARKET STATISTICS

*DJIA +46 +0.17% 27433*
NASDAQ -97 -0.87% 11010
GOLD -23.2 -1.13% 2046.10
OIL -0.36 -0.83% 41.60
*COAL (Sep/Newcastle) +1.10 +2.11% 53.20*
NICKEL -95 -0.6y% 14355
TIN -85 -0.48% 17747.50
CPO (Sep`20) -16 -0.56% 2818
EIDO -0.41 -2.13% 18.81
US 10yr +0.026 +4.85% 0.5620
INDO 10yr -0.0029 -0.04% 6.9930
INDO CDS (5yr) +0.844 +0.78% 109.344
*TLK 40.24 (2942) vs 2980 (TLKM)*
IDR (Spot) 14,625
IDR (Bloomberg, 08/08/20/Fut, 08.45) 14,625

*IDX Range : 5,108 - 5,193*
*USD/IDR Range: 14,560 - 14,700*

 

 

D. STOCK WATCHLIST

GGRM, ASII, AALI, ERAA, SMGR, ACES, MAPI, BBRI, ICBP, BBNI.

 

 


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