Author: yosefardi.com

Market Snapshots & Corporate Actions

After war of quick counts, Prabowo and Jokowi camps have started wars of real counts, especially in ‘strategic areas’, including East Java. We will going to see the wars in the coming weeks even if the General Election Commission (KPU) officially releases final counts on July 22. Corporations in this report: Krakatau, BRI, Aneka Tambang.

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New Equities: Sitara Property and Bank Dinar

Small bank Dinar (DNAR) kicks off trading of its stocks on Indonesia Stock Exchange (IDX) Friday, July 11. The bank starts the trading with market capitalization of Rp245 billion, slightly lower than its equity. Property developer PT Sitara Propertindo Tbk (TARA) will also kick off trading of its stocks Friday with initial market capitalization of Rp1.06 trillion. Prospects?

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Market Review: Politics

Market participants responded positively the outcome of July 9 election, even though they have to wait until July 22 to get confirmation about the new president. A peaceful election lifted rupiah by 1.25% to Rp11549 per USD, while composite index of Indonesia Stock Exchange (IDX) rallied 1.46% to 5098, closed off high.

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Post 2014 Presidential Election Report: Unfollows and Unfriends

The founder of Tempo Magazine Goenawan Mohammad wrote in his famous Catatan Pinggir piece in the magazine’s Jul. 7 edition that “the year of 2014 is the most brutal—brutal in the form of words—throughout our history since 1945. In this fierce process, almost everyday we hear “facts” that are reversed, denials that do not intend to seek the truth, and sooner or later, the widespread of distrust or even hatred among each other.”

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Coal Journal No. 55/2014

Shares of PT Mitrabara Adiperdana (MBAP) Tbk, a coal producer, gained more than 10% on its trading debut at Indonesia Stock Exchange (IDX) this morning. Overall market sentiment helped MBAP because the sector is still under lots of pressures. Companies in this report: Cokal and Orpheus.

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Post 2014 Presidential Election Report: A Risky PR Bet

We talked briefly about the statistical aspect of the 11 quick counts available as benchmarks. We concluded that it’s unwise of Prabowo-Hatta to claim victory given the space that their own benchmark provide for the real count to fall under 50%. But statistics aside, one could also argue that, ethically, Jokowi-JK have been unwise to claim their victory with glaring confidence.

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Market Snapshots & Corporate Actions

Composite index of Indonesia Stock Exchange (IDX) opened higher by more than 2% to 5165 this morning as investors were upbeat with the election outcome, despite claims of victory from competing camps. Almost all blue chip stocks gained more than 3% in the opening minutes, except those linked to Bakrie Group.

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Post 2014 Presidential Election Report: Who Won Statistically?

If you’ve been following up on the news, you’d know that Indonesia has three presidents today: the sitting president Susilo Bambang Yudhoyono, and two quick count presidents Joko “Jokowi” Widodo and Prabowo Subianto. We phrased our sentence as such because, technically, under Indonesian laws, neither Joko Widodo nor Prabowo Subianto can claim to be President Elect until July 22, when the KPU announces the official results of this president election.

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Prabowo’s Frustration & Anger: Outlets?

President candidate Prabowo Subianto openly expressed his anger towards some media outlets controlled by Surya Paloh (chairman of NasDem), Tempo Group, Lippo Group, and Kompas Gramedia Group. Tempo.co reported that Prabowo was mad at Berita Satu TV and The Jakarta Globe. “I’ve been patient enough for quite sometime,” Prabowo said.

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Palm Oil Journal No.60/2014: Further Corrections!

The benchmark September 2014 contracts of crude palm oil (CPO) dropped further by RM9 to RM2375 per ton Wednesday (July 9), while October and November contracts lost RM15 and RM18 to RM2360 per ton each. Our research points to significant growth of CPO output last month from both Indonesia and Malaysia operations.

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