Category: Market

Corporate H1 Results

Feed producer Malindo Feedmill (MAIN) suffered a loss of Rp44.3 billion in the first half (H1) of 2020, against a profit of Rp146 billion in H1 of 2019, as net sales fell 17.6% to Rp3.19 trillion. Gross profit dropped 48% to...

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Fund Raising: MNC-Charlton 

MNC Group, through its entity Global Mediacom (BMTR), will launch the private placement, offering new shares to certain buyers, this month. Shareholders of BMTR have approved said offering for 700 million new shares priced at Rp200 per unit to raise the total proceeds of Rp140 billion.

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Market & Rupiah

Foreign investors kept buying local stocks on Thursday (Aug. 13) as they booked a net buy of Rp281.72 billion yesterday, cutting the year-to-date net sell to Rp23.55 trillion. Domestic investors opted to lock in profits. The composite index of the Indonesia Stock Exchange (IDX) gained 0.1% to close at 5239 on Thursday but reversed an earlier gain of 0.88% due to profit-taking.

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Covid-19 Situation Report

Indonesia recorded 2,098 new infections Thursday (Aug 13), but discharged only 1,825 people (65 deaths and 1,760 recovered patients), resulting in net additional active case of 273. The country, in general, reported only one day in the past few days with lower active cases, adding pressure to the healthcare system.

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Market Snapshots

Global stock markets rallied on Wednesday (Aug. 12) in line with a jump in oil prices. News about a potential coronavirus vaccine continued to offer some support. At the same time, doubts arose whether the United States (US) will reach an agreement on a new coronavirus aid package. 

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Corporations to Watch

Plantation firm Eagle High Plantations (BWPT) opts to be selective in developing business and expanding amid the COVID-19 pandemic that hit palm oil plantation. It will only spend capital expenditure (capex) for production operation and rejuvenation. BWPT has spent a capex of Rp50 billion this year. The company postpones its plan to build two new palm oil mills in East Kalimantan with a capacity of 60 tons and 90 tons per hour.

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H1 Results: F&B Retailers

PT Jaya Bersama Indo Tbk (DUCK), the Duck King restaurant owner, booked no profit in the first half (H1) of 2020, against a profit of Rp93 billion in the corresponding period of 2019, as revenues dropped 62% and operating profit fell 70.9%. DUCK booked revenues of Rp153 billion in H1 this year, compared to Rp403 billion a previous year. Operating profit was Rp34 billion, compared to Rp118 billion a year earlier.

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Covid-19 Situation Report

Indonesia reported 1,942 new infections Wednesday (Aug 12), but discharged 2,167 people (consisted of 2,088 recovered patients and 79 deaths), resulting in declining active cases of 225, easing off pressures in the hospital system. The country’s recovery rate improved further to 65.7%, above the world average.

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Market & Positive Economic Data

Global stock markets mostly gained on Tuesday (Aug. 11) supported by positive economic data, while investors’ concern over coronavirus and hopes for vaccines weighed on sentiment. United States (US) stocks traded higher earlier on Tuesday after Russian President Vladimir Putin claimed the country had the registration for the first vaccine for the coronavirus in the world. According to data released by Johns Hopkins University, the number of people infected with the coronavirus across the world surpassed 20 million, of which at least 736 thousand people have died. 

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Fund Raising

Conglomerate Barito Pacific (BRPT) obtained a loan facility from Bangkok Bank Public Co. Ltd., amounting to US$252.70 million. It would use the loan as a part of the Company’s contribution to the financing structure provided to the unit, PT Indo Raya Tenaga, an electricity generation and supply company. On July 20, 2020, BRPT provided a loan to its subsidiary worth $252.75 million, with an interest rate of 6.18% per year.

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Revisiting JTI Group Investment

Japan Tobacco International (JTI Group), the world giant, started investing in Indonesia in 2017 through acquiring PT Karya Dibya Mahardhika (KDM), Indonesian clove cigarette (Kretek) maker, and its distribution company PT Surya Mustika Nusantara (SMN) in a deal valued for US$677 million. KDM operates through nine production facilities of kretek cigarettes in Java and sells its products across Indonesia through SMN. The two entities employ around 8.700 people.

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Covid-19 Situation Report

Indonesia reported 1,693 new infections on Tuesday (Aug 11), but discharged 1,533 people (including 59 new deaths), resulting in additional active case of 160. The country’s fatality rate remains high at 4.5%, but recovery rate has reached 64.7%, similar to the world average. On Tuesday, President Joko ‘Jokowi’ Widodo kicked start Phase III trial of a vaccine developed by Sinovac in partnership with state pharmaceutical giant PT Bio Farma.

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