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IP Report: Market Risk-ON; High Beta Play - BBNI ACES CPIN INTP PWON SMRA AALI LSIP; ACES
Tuesday, January 14, 2020       14:59 WIB

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Good Day Mate! by the look of today, market seems to be back to risk on mode
  • Easing US-Iran Tensions
  • Positive development on Washington and Beijing Partial Trade Deal
  • Indonesia gaining FDI momentum i.e. UAE's plan to pump USD22.8bn
  • Strong IDR Rp13700ish and it still continues. We reckon more and more foreign bond inflow. What about for Equity? Let's wait! Patience is virtue.
  • EIDO +1.23% iSHares MSCI EME +1.6%
  • BUY Indonesia

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High Beta Play if you will

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Snippets
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 Producers raise car prices to start the year 
Toyota Astra Motors has raised its car prices by 1% to start 2020, while Daihatsu Astra Motor has raised car prices by Rp1-2.5mn/unit. Popular models such as Avanza and Calya saw price increases of c.Rp1.95-2mn/unit, while Sigra saw a Rp2.5mn/unit increase. Honda is also raising prices by 1% to start the year - the recently popular new Brio prices have been raised by Rp2.5mn/unit. According to Toyota Astra Motor, the 1% price increase in Jan20 is lower than the 1.4% implemented in Jan19. (Bisnis Indonesia)
 Setyanto Hantoro appointed as Telkomsel's new President Director 
Setyanto Hantoro has been appointed as the new President Director for Telkmosel, replacing Emma Sri Martini who has been re-assigned as the CFO of Pertamina. Prior to his appointment, Setyanto Hantoro was previously President Director of PT Multimedia Nusantara since Nov19, a subsidiary of Telkom that was operating in the field of information, media, and edutainment, and EVP for Strategic Investments in Telkom since 2016-2019. (Investor Daily)
 Ministry of Industry asks for delay in ODOL implementation 
The Ministry of Industry has issued a letter to the Ministry of Transport, asking for the implementation of Zero Over Dimension Overload ( ODOL ) regulation to be delayed to 2023-2025 instead of the initial plan of 2021 - note that previously the Ministry of Transport has socialized Zero ODOL implementation by 2021 based on its letter issued to industry players on Oct19. The Ministry of Industry now asks for Zero ODOL implementation to be adjusted for the characteristics of the product/industry. Another concern is that distribution of raw materials heavily depends on trucks, and that Zero ODOL implementation by 2021 could wither industry competitiveness. (Bisnis Indonesia)
 OJK raises capital requirement for BUKU I bank 
Based on OJK's regulation number 41/POJK.03/2019 on Merger, Consolidation, Takeover, Integration, and Conversion of National banks, capital requirements for BUKU I banks will be gradually increased from Rp1tr currently to Rp2tr by 2021 and rp3tr by 2022. (Investor Daily)
 Coal gasification will be delayed to 2023 
The coal gasification project, which will be expected to convert coal into dimethyl ether (DME) is expected to be a boost to the country as it could translate to c.Rp9tr in liquid petroleum savings. However, the finalization of the project is expected to be delayed to 2023 as IRR currently under 12%. (Bisnis Indonesia)
  is preparing capex of around Rp250bn in 2020 
is targeting capex in 2020F to be around Rp250bn, which will mainly be used for store expansion. The company is planning to open 15 new stores in 2020F, which is lower compared to 2019 store openings of 23 new stores. Management is also targeting an 8% yoy top line and bottom line growth for 2020F. (Investor Daily).
 Sales commentary is not a product of research 

Sumber : IPS

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