JAKARTA (TheInsiderStories) – Here’s several news could affect stock market condition compiled by our team and Mandiri Sekuritas :
*Indonesian Motorcycle Industry Association (AISI) sees two-wheeled automobile sales in 2017 could reached 6.2 million units compared to last year reached 5.93 million units. According to Sigit Kumala, Head of Commercial AISI, one positive factor is about the rise in commodity prices in some areas such as Sumatra. In addition to these positive factors, the motorcycle business also no constraint at the beginning of this year.According to Sigit, about 80% of national production and sale of motor derived from the type of automatic. Whereas the type of duck and sport respectively contributed 10%. PT Astra Honda Motor is targeting, it could sell between 4.4 million units to 4.5 million units of motorcycles this year. Up slightly from 0.4% -2.6% of Astra Honda Motor’s sales of last year’s 4.38 million units. While Michael Chandra Tanadhi, Deputy Department Head of Sales & Promotion Division PT Kawasaki Motor Indonesia targets to acquire 2% of the national motorcycle market share. Last year, Kawasaki sell up to 95,000 units of motorcycles.
*At least 37 issuers not fulfill the obligation to release free float of 7.5% of the company shares. The total value of the market capitalization of 37 listed companies reached Rp 211.32 trillion. The amount is equivalent 3.69% of the total market capitalization of Rp 5720.40 trillion in Indonesia Stock Exchange. Of the 37 listed companies, only five companies have recorded a market capitalization of more than Rp 10 trillion. The majority have a capitalization of less than Rp 10 trillion. There are issuers who eventually filed to go private and delisted from the stock exchange because not able to fulfill the rules of the free float namely PT Sorini Agro Asia Corporindo Tbk (SOBI). One of issuers that do not meet the rules of the free float is PT Chandra Asri Petrochemical Tbk (TPIA). Currently, TPIA recorded has a 4.22% free float.
*The Cepu block oil production is targeted to be boosted to 200,000 bpd in this year from currently 185,000 barrels per day (bpd), a fifth of the total national production of 820,000 bpd. Head of the Special Unit of Upstream Oil and Gas (SKK Migas) Amien Sunaryadi revealed that there is the discovery of new oil reserves of at least 100 million barrels. Cepu Block oil reserves currently recorded at least 550 million barrels. P2 reserves that still needs to be proven amounts to approximately 179 million barrels.
*PT Bank Permata Tbk (BNLI, Rp680, BUY, TP Rp690), PT Bank Rakyat Indonesia Tbk Agroniaga (AGRO, R478), and PT Bank Mayapada International Tbk (MAYA, Rp2.400) was exploring a plan subordinated bonds in 2017 worth more than Rp2 trillion. This corporate action aims to strengthen the capital of each issuer.
*PT Chandra Asri Petrochemical Tbk (TPIA, Rp21.450) undergo expansion. Through its subsidiary, PT Petrochemicals Butadiene Indonesia (PBI), provides contract engineering services, procurement and construction (EPC) to Toyo Engineering Korea Ltd and PT Inti Karya Persada Technics related butadiene expansion projects.
*PT Surya Semesta Internusa Tbk (SSIA, Rp615) would seriously initiate construction of the toll road to the port Patimban, Subang, West Java. The expressway will connect the highway Cikopo palimanan (Cipali) with Patimban along 38 kilometers.
*Several companies ready to go IPO in this year namely PT Avia Avian which is a paint manufacturer with target funds up to Rp 3 trillion, which will take place at the end of 2017. Other companies are PT Wavin Duta Jaya, a manufacturer of PVC pipe, will target funding of up to Rp2.5 trillion. PT Maspion, which manufactures household appliance and PVC pipes as well as business property targeting Rp2 trillion from the IPO.
*PT Aneka Tambang Tbk (ANTM, Rp865, NEUTRAL, TP 500) will boost the construction of East Halmahera Ferronickel Project (P3FH). ANTM has prepared Rp2,56 trillion for capital expenditure in 2017.
*PT Benakat Integra Tbk (Bipi, Rp137) to continue the acquisition of 30% stake Indopay. Bipi continue the acquisition of the company owned by PT Sumber Energi Tbk Andalan (ITMA) worth US $ 120 million is scheduled to be completed end of 2017.
* PT Waskita Concrete Precast Tbk (WSBP, Rp575, BUY, TP Rp690) will build two factories. WSBP prepare a working capital (capex) to Rp1.9 trillion, up 72.73% from last year were valued at Rp1.1 trillion. Currently, WSBP already has 10 precast concrete plant with a capacity of 2.65 million tons per year and 41 batching plant (BP) scattered around the project site.
* PT Indocement Tunggal Tbk (INTP, Rp14.475, NEUTRAL, TP Rp14.400) will establish a new company. INTP Tiro established PT Abadi Perkasa engaged in the field of retail marketing of cement and building materials. INTP targets sales rose 5% -6%, so issuers are still relying on the domestic market, especially in the retail market, which reached 75%.
* PT TASPEN ensure clasped around 13% stake in Waskita Toll Road, a subsidiary of PT Waskita Karya Tbk (WSKT, Rp2.580, BUY, TP Rp3,200) engaged in the toll road business. President Director of PT TASPEN Iqbal Latanro recognize the acquisition of PT Waskita Toll Road oelh TASPEN and PT Sarana Multi Infrastructure has been completed.
*PT Bank CIMB Niaga Tbk (BNGA, Rp960, BUY, TP Rp1.130) and a number of other creditors demanded that PT fireworks Eighty Eight Multifinance immediately submit the list of assets in order to know the company’s prospects in the middle of the PKPU.
*Issuers logistics property specialist, PT Mega Property Manunggal Tbk (MMLP, Rp675) will allocate capital expenditure of Rp 2 trillion this year for the construction of a new warehouse. This amount is 53% higher than last year’s capex amounted to Rp1.3 trillion.