Category: Market

Corporate Actions & Results

MNC Kapital Indonesia (BCAP) plans to boost its total issued and paid-up capital to Rp40.66 trillion through issuing 406.62 million new shares under preemptive rights scheme. After this transaction, the public investors’ ownership in BCAP shares will increase to 20.74% from current 14.85%. While ownership of BCAP, UOB Kay Hian (Hong Kong) Ltd and HT Capital Investment Ltd will decline to 64.03%, 8.6%, and 6.63% respectively.

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Growing Acquisition in Coal Industry

Thermal coal has been stabilizing above US$80 per ton since early October 2016. While volatility is anticipated due to policy changes in China, some continued to acquire coal assets in Indonesia. The most recent is acquisition of 14.74% shares in a coal mine in Kalimantan by South Korean energy company.

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Market Rally & Fragile Economy

Trading in the Indonesian stock market will resume today after a long weekend. The Market is expected to make gain following the global markets. Reuters reported that global equity markets rallied on Monday (Apr 24) as the first round of an election in France went to the market’s preferred contender. Wall street also surged on Monday after the French Election results, and as President Trump’s advisors will begin to discuss the administration’s tax plan with Republican Congress leaders.

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Anies-Sandi & Their Heavy Luggage (1): Conflict of Interests

It becomes clearer that VP Jusuf Kalla and Aksa Mahmud, whom Anies Baswedan consider as ‘parents and relatives’, are main supporters of the winning ticket in Jakarta election. It is disgusting how Erwin Aksa defended his chopper ride service for Anies. But, it won’t be a surprise to see inner circles of Anies-Sandi, including property business-linked politician Boy Sadikin would benefit directly and indirectly from new leaders in Jakarta. We’re not talking about the famous ‘down payment zero rupiah’ program here.

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Corporate Actions & Banking Update

Astra International (ASII) allocates capital expenditure (capex) of Rp15 trillion for this year, of which capex for automotive business accounts for Rp2.5 trillion. Astra’s automotive business got mild pressures in first quarter (Q1) this year but its market share grew. While Astra’s heavy equipment sales jumped 70%, mainly for mining segment along with increasing coal prices.

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Coal Journal No. 15/2017: Output to Watch

Thermal coal is now traded at around US$84.1 per ton, down significantly from its peak late last year, but the commodity has been hovering above US$80 per ton for nearly seven months since early October 2017 amidst mixed views of supply-demand balance in China and India, growing output in Indonesia, and weather issues in Australia.

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Key Takeaways from Telkom’s Q1 Results

Telekomunikasi Indonesia (TLKM) reported a strong sales revenue growth of 12.63% to Rp31.02 trillion in the first quarter of 2017, while net profit was Rp6.7 trillion, jumped 45.8% from the corresponding period last year. Data, Internet, and IT services continued to report strong growth of 14.3%, while telephony services grew only by 5.6%.

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Freeport: Where are We?

Luhut Binsar Pandjaitan, coordinating minister for maritime affairs, admitted President Joko ‘Jokowi’ Widodo discussed Freeport Indonesia issues with visiting US Vice President Mike Pence at the State Palace Thursday (April 20), including mandatory divestment of up to 51% shares. “Pence was satisfied with President’s explanation,” claimed Luhut, one of the president’s most influential advisers.

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Slower Growth for Economy in Q1

On Thursday (Apr 20), the Central Bank (Bank Indonesia/BI) reported a slower growth for the economy in the first quarter (Q1) of 2017 due to slower growth of retail and automotive sales, as an effect of on-going consolidation in the corporate sector. The household consumption is expected to grow by 4.9% in Q1 this year, equal to Q1 last year. BI, however, said that the economic growth momentum in Indonesia is expected to remain well in the first quarter of 2017, albeit below previous expectations.

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BRI Q1 Results & Corporate Actions

Improving macro economic indicators and banking sector benefited some banks as they reported better earnings for the first quarter (Q1) of 2017. The said macro indicators include 5% economic growth momentum, commodity price recovery (supporting private sector investment), adequate foreign reserves and stable exchange rate (rupiah), also low interest rate and inflation that improved public confidence.

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Strong Q1 for Astra

Astra International (ASII) reported a strong first quarter 2017. Its net profit jumped 63.5% to Rp5.09 trillion as sales revenues increased by 16.5% from the corresponding period last year. With the exception of IT and infrastructure & logistics, other business segments reported strong growth in the period.

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