Category: Market

Market & Global Concerns

Global stock markets closed mixed on Thursday (May 28) with Wall Street’s main indexes giving back early gains to end in negative territory after President Trump announced he would be giving a news conference Friday regarding disputes with China. The announcement came after China’s Congress approved a national security bill for Hong Kong, prompting concerns of escalating conflicts. 

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Corporate Results

Visi Media Asia (VIVA), the parent of TVone and ANTV, suffered a loss of Rp540.9 billion in 2019, narrowed from a loss of Rp1.1 trillion in 2018. Revenue declined 11.7% to Rp2.1 trillion, while operating expenses fell 8.2% to Rp2.1 trillion. The Company booked a gross loss of Rp31.9 billion against a profit of Rp57 billion in 2018.

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Companies affected/not affected by COVID-19 (7)

ICT provider Astra Graphia (ASGR) said that it’s affected by COVID-19 pandemic as it had stopped some of its operations for 1-3 months. The Company expects its profit to drop by 51-75% for the Jan-Apr 2020 period. That said, ASGR has maintained the number of its employees at 1440. Consumer goods player Kino Indonesia (KINO) noted that it was not affected by COVID-19. It has added 77 employees year to date. The Company expects its profit to grow by 25-50% for the Jan-Apr 2020 period.

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Market Snapshots & Corporate Actions

Global stock markets extended rallies on Wednesday (May 27) economic reopening hopes and advances in the development of a coronavirus vaccine. Wall Street closed deeply in the green. All 50 United States (US) states have reopened their economies to some extent, with some of them beginning to allow professional sports teams to resume practice and competitions.

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Companies affected/not affected by COVID-19 (6)

Bank Maybank Indonesia (BNNI) said it is affected by the COVID-19 pandemic as it stopped operations of some office branches and cash mobile cars for three months. The stopped operation branches contributed less than 25% of the total income in 2019. The bank has reduced 100 staff numbers, to 6968 from 7068 on December 31, 2019. Its non-performing loan (NPL) increased during the pandemic, reaching 3-5%. Its CAR was maintained at over 20%.

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Q1/20 Results of BCA

PT Bank Central Asia (BCA) Tbk (BBCA) booked a net profit of Rp6.6 trillion in the first quarter (Q1) of 2020. It grew 8.6% from Rp6.06 trillion in the same period of 2019, supported by solid operating income. But it declined 13.9% quarter on quarter (q/q) as operating expense grew 16.4%.

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Less scary outlook (14)

Indonesia reported 55 new deaths related to Covid-19 and 686 new infections on Wednesday (May 27). East Java was still the worst with 19 new deaths and 199 new infections, while Jakarta added 97 new cases (1.4% growth from the previous day) and eight new deaths. Other areas in Java, interestingly, reported improvements, particularly in Central Java where no new death was reported, while new infections grew only by 0.83%.

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Companies affected/not affected by Covid-19 (5)

More companies responded to questions from Indonesia Stock Exchange (IDX) about impact of Covid-19 outbreak and measures taken by the government. Some are severely affected, but others run at normal rates. Most of them, interestingly, maintained their workforce even though some at reduced pay.

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Market Rallies

Global stock markets rallied on Tuesday (May 26) as market sentiment was boosted by optimism surrounding the easing of coronavirus-related lockdowns and a potential vaccine to treat COVID-19 from American biotech company Novavax. 

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FY19 Results of Telkom

State-owned telco firm Telekomunikasi Indonesia (TLKM), or Telkom, booked a net profit of Rp27.59 trillion in 2019, up 2.6% year on year (y/y) and revenue rose 3% to Rp135.57 trillion. Operating profit grew 7.7% to Rp42.4 trillion. Ebitda grew 9.5% to Rp64.83 trillion. The digital business of Telkomsel and Indihome grew significantly and became significant contributors to Telkom’s growth.

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Companies Affected and Not Affected by COVID-19 (4)

Cement producer Indocement Tunggal Perkasa (INTP) said its operations are affected by the COVID-19 pandemic, with only 1-3 cement mills operating, from existing ten mills or factories. The broader social restrictions (PSBB) resulted in lower demand for cement. The operations during the PSBB period (1-3 months) only contributed less than 25% of total revenue in 2019. But Indocement said it maintained its employees, not reducing or layoff. Some staff members, commissioners, and directors voluntarily cut their salaries.

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Less scary outlook (13)

Indonesia recorded 27 new Covid-19-related deaths to make 1,418 as of Tuesday (May 26), while number of new infections increased by 415, the third day of consecutive decline. Fatality rate declined to 6.1%, while recovery rate increased to 25.37%, still way below Thailand and Malaysia, but nothing compared to European and Latin American countries.

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