Data center industry update
Shares of Solusi Sinergi Digital (WIFI), a company where President Prabowo’s brother Hashim Djojohadikusumo has minority ownership through Arsari Group, gained 24.47% on Tuesday (Jan 14) to make a market capitalization of Rp1.39 trillion.
Indomobil anyone?
Domestic car sales dropped 14% last year due to price hike (related to higher VAT and weaker rupiah) and the squeezed middle income group. Downfall of car sales in the past ten years contributed to substantial correction of automotive-related shares like Astra Internasional (ASII) and Indomobil (IMAS).
Undervalued stocks: Malindo Feedmill
Hype on President Prabowo’s free meal program might have been short-lived. Shares of integrated poultry players listed on Indonesia Stock Exchange (IDX) ended mixed Tuesday (Jan 14) with both Charoen Pokphand (CPIN) and Jaffa Comfeed (JPFA) down 1.32% and 0.27% respectively, while Malindo Feedmill (MAIN) was flat.
Further market corrections
Composite index of Indonesia Stock Exchange (IDX) ended further down by 0.86% to 6956.66 Tuesday (Jan 14) on a broad market correction. The index prevented a deeper correction thanks to recovery in nickel-related shares and some consumer stocks.
Turning around Siloam Hospital?
Shares of market leader Siloam International (SILO) ended slightly down by 0.32% to Rp3,100 on Monday (Jan 13). The quoted price reflected that the Company, controlled by Riady Family’s Lippo Group and CVC, valued at Rp40.24 trillion.
Nickel production cut
Nickel regained grounds to US$15,895 per ton on the London Metal Exchange (LME) Monday (Jan 9) as some market participants anticipate possible production cut in Indonesia, home to nearly 50% of world production.
Partners in the Free Meal Program: OBAT?
Some complained about the absence of milk in the free meal program even when the program has only reached five percent of the target. The government looked uncertain about it. Aware of limited domestic milk production capacity, some proposed the use of fish milk. The latest, PT Brigit Biofarmaka (OBAT) Tbk, a newly listed company, offered spirulina (blue-green algae) milk.
Corrections on state banks
Shares of banks ended mostly lower ground Monday (Jan 13) on broad market sentiment. Shares of state banks, however, have fallen more than private banks since the inauguration of new president Prabowo Subinato on October 20, 2024.
Undervalued stocks: Gajah Tunggal
Shares of tire manufacturer Gajah Tunggal (GJTL) ended lower by 2.7% to Rp1,080 Monday (Jan 13) on broad market sentiment. Weaker automotive sales due to the squeezed middle class led to substantial correction of shares related to the sector in the past ten years or so.
Luhut’s food estate
Luhut Binsar Pandjaitan, chairman of the National Economic Council (DEN) and special advisor of president Prabowo Subianto, joined the food self-sufficiency chorus with the development of food estate in Humbang Hasundutan, North Sumatra province. Actually, it is not a new project, because Luhut ‘took over’ the food estate in his capacity as then coordinating minister for maritime and investment affairs.