JAKARTA (TheInsiderStories) — The Jakarta Composite Index declined by 0.95 percent to 6,190.52, on Monday, as there was Rp143.86 billion (US$10.06 million) foreign outflows. All sectors but agriculture simultaneously fell.
Basic industry and chemicals slumped the deepest by 1.83 percent, followed by manufacturing at 1.34 percent and consumer goods at 1.29 percent. For today, the stocks market is predicted to continued bearish in a range of 6,163-6,230, according to Reliance Securities Head of Research Lanjar Nafi.
Indonesia’ first listed-soccer club PT Bali Bintang Sejahtera Tbk (IDX: BOLA) rocketed by 69.1 percent to Rp296 a share on its first day trade and hit by Indonesia Stock Exchange’ auto-reject. Then, PT Sidomulyo Selaras Tbk (IDX: SDMU) and PT SMR Utama Tbk (IDX: SMRU) increased by 33.3 percent to Rp72 each and 25.7 percent to Rp176 a piece, respectively.
Two Hary Tanoesoedibjo’ companies PT Global Mediacom Tbk (IDX: BMTR) and PT Media Nusantara Citra Tbk (IDX: MNCN) fell by 25 percent each to Rp360 each and Rp975 a share, probably related to Vivendi SA’ unclear acquisition plan. Moreover, PT Hotel Fitra International Tbk (IDX: FITT) continued declining by 20.7 percent to Rp173 a piece.
PT Bali Bintang Sejahtera Tbk (IDX: BOLA)
After officially listed on Indonesia Stock Exchange, Bali United soccer team targets Rp159 billion revenue this year, an increase by 38 percent compared to last year. Around 96 percent of the revenue is targeted to be achieved by sponsorship. While last year, sponsorship contributed 70 percent of Bali United revenue. Bali United eyes Rp10 billion operation profit.
PT J Resources Asia Pasifik Tbk (IDX: PSAB)
The miner will issue Rp3 trillion sustainable bond, with its initial issuance at Rp500 billion. The interest rate is set at around 10 percent to 11 percent annually, with three years maturity. Company will use the funding for refinancing debts that will be matured by the end of this year.
PT Agung Podomoro Tbk (IDX: APLN)
Through its subsidiary PT Muara Wisesa Samudra will continue reclamation of the controversial Island G. Recently, the property company is completing administration needed for extending the reclamation licensing. Agung Podomoro stated that it has developed almost 70 percent of the island structure.
PT MNC Vision Networks Tbk
Company targets achieving Rp814 billion to Rp856 billion fresh funding through Initial Public Offering (IPO). Subsidiary of PT Global Mediacom Tbk (IDX: BMTR) will release 2.5 billion new shares or 10 percent of its issued and fully paid capital with the price tagged at Rp231-Rp243 per share. It is targeted to be listed on July 8, 2019.
PT Inocycle Technology Group
Artificial staple fiber and non-woven industry company will do IPO, by issuing 800 million shares or 39.99 percent of its issued and fully paid capital. Inocycle Technology Group tagged the share price at Rp240-Rp380. So company could get around Rp192 billion to Rp304 billion funding for paying debts and working capital.
As for today, Nafi’ recommendations are PT Bisi International Tbk IDX: BISI), PT Tunas Baru Lampung Tbk (IDX: TBLA), PT PP London Sumatra Indonesia Tbk (IDX: LSIP), PT Salim Ivomas Tbk (IDX: SIMP), PT BFI Finance Indonesia Tbk (IDX: BFIN), PT Media Nusantara Citra Tbk (IDX: MNCN), PT Erajaya Swasemabda Tbk (IDX: ERAA), and PT Ramayana Lestari Sentosa Tbk (IDX: RALS) stocks.
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia