Category: Market

Investment Update

The Indonesia Investment Coordinating Board (BKPM) reported that the investment realization increased by 8.9% to Rp209 trillion in the third quarter (Q3) of 2020, compared to the previous quarter (Rp191.9 trillion). Compared to Q3 of 2019 (Rp205.7 trillion), the figure increased 1.6%. For Jan-Sep (9M) of 2020, the investment realization increased 1.7% year on year (y/y) to Rp611.6 trillion.

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Corporate 9M Results

Bread maker Nippon Indosari Corpindo (ROTI), a unit of Salim Group, booked a net profit of Rp127.2 billion in the first nine months to September (9M) of 2020, jumped 153% from Rp70 billion in 9M last year, supported by Ebitda of Rp308.6 billion (Rp96.7 billion in Q3). Its sales was flat at Rp2.4 trillion. In 9M last year, ROTI recorded sales of Rp2.46 trillion. In Q3 of 2020, ROTI’s sales reached Rp766 billion.

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Market This Week

Global stock markets will continue trade in positive territory this week, along with the positive economic data, corporate earnings, though growing concern the COVID-19 pandemic will cap or prevent such a market gain. This week, the United States (US) Q3 GDP growth will be in the spotlight, alongside personal income and durable goods orders. 

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9M Results: Unilever, Matahari, Link Net

Unilever Indonesia (UNVR), the market leader for home and personal care, generated a net profit of Rp5.44 trillion in the 3.62 trillion in the first nine months to September (9M) of 2020, declined 1.3% year on year (y/y) as operating profit fell 5.7% y/y to Rp7.09 trillion. Revenue increased 0.1% to Rp32.4 trillion, with home and personal care contributing Rp22.79 trillion, while food and refreshment contributed Rp9.66 trillion.

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Update on Economy

The International Monetary Fund (IMF) said in its recent report that the global economy is beginning to recover after a sharp contraction in the second quarter (Q2) of 2020, as nationwide lockdowns are lifted and replaced with more targeted containment measures. 

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Market & Commodities

Global stock markets mostly ended lower on Thursday (Oct. 22) as rising COVID-19 cases across Europe and the lack of progress in the United States (US) stimulus negotiations undermined markets’ sentiment. European stocks ended at fresh one-month lows on Thursday, as rising COVID-19 cases across Europe and the lack of progress in US stimulus negotiations outweighed better than expected earnings. The number of infections rose at record rates in several countries, with Spain and France becoming the first Western European countries to exceed 1 million infections. 

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Market Snapshots

Global stock markets mostly ended lower on Wednesday (Oct. 21) as concerns about rising coronavirus cases offset hopes of further stimulus in the United States (US) and upbeat corporate results. Wall Street closed in the red yesterday as coronavirus stimulus talks continue amid rising US and Europe cases. 

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The merger of 3 State Syariah Banks

Three state syariah banks–PT Bank BRISyariah Tbk (BRIS), PT Bank Syariah Mandiri (BSM), PT Bank BNI Syariah–will merge and become the largest sharia bank in Indonesia. Bank Negara Indonesia (BBNI), Bank Rakyat Indonesia (BBRI), and Bank Mandiri (BMRI) have signed a conditional agreement that will merge their Islamic subsidiaries.

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9M Results: Sido Muncul & Mitra Keluarga

Herbal player Industri Jamu Dan Farmasi Sido Muncul (SIDO), producer of Tolak Angin, booked a net profit of Rp640 billion for the first nine months (9M) of 2020, grew 10.78% year on year (y/y) as sales rose 6.94% to Rp2.26 trillion. Due to the COVID-19 pandemic, people opted to consume herbal, and supplement products for maintaining their health, even the people’s purchasing power is weakening due to the global economic downturn. Sales of herbal and supplement products contributed 63.89% of total sales. Sales of food and beverages grew 18.78% to Rp722.19 billion.

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Market Snapshots

Global stock markets mostly ended lower on Tuesday (Oct. 20) as concerns about growing coronavirus infections across Europe mounted. Investors await news on a United States (US) coronavirus aid package. US stocks extended gains yesterday after Nancy Pelosi told Bloomberg that she was optimistic about a possible deal and had a phone call scheduled with Treasury Secretary Mnuchin. 

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Corporations to Watch

Chemical distributor and manufacturer Lautan Luas (LTLS) has purchased 4.9% of the producer of raw material for detergent PT Unggul Indah Cahaya (UNIC), a joint venture company owned by Wings Group and Salim Group. LTLS bought 19.01 million UNIC shares at a value of Rp89.35 billion.

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Revisiting Garuda & AirAsia

Flag carrier Garuda Indonesia (GIAA) will add scheduled flights ahead of the Christmas and New Year holidays. So far, the Indonesian Government has not ruled on restricting movement for the said holiday, as it did for the Idul Fitri annual mass exodus (locally known as mudik).

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