DAILY UPDATE
January 23, 2018
MACROECONOMIC NEWS
US Economy - The University of Michigan on Friday said its consumer sentiment index was 94.4 in early January (Bloomberg consensus 97), down slightly from 95.9 in December. It dropped in December and November after hitting the highest level since 2004 in October. Household expectations about long-term rising prices remained at its 2017 average, but inflation expectations over the next year inched up slightly to 2.8% in January from 2.7% in December. This change is important to Federal Reserve officials as they monitor ramped-up price increases to make decisions that control the flow of money; some economists think the higher people think prices are going to go, the higher prices actually tend to go.
UK Economy - U.K. retail sales dropped sharply in December, with the 1.5% fall nearly double the decline estimated in a poll conducted by The Wall Street Journal. The Office for National Statistics also sales in 2017 rose 1.9%, the slowest rate of annual growth since 2013.
CORPORATE NEWS
BFIN - PT Batavia Prosperindo Finance will issue new shares up to 12.32% shares outstanding at IDR 450 per share.
ISAT – PT Indosat finishes the development of 17 base transceiver stations (BTS). With this, ISAT contributes IDR 1.8 trillion worth of universal service obligation to the government. GMFI– PT Garuda Maintenance Facility Aero Asia plans to let go 20% shares to strategic investor. The potential investor is Air France-KLM, a France based airline company.
TBIG– PT Tower Bersama Infrastructure allocates IDR 1-2 trillion capex in 2018. The company plans to construct 1,000 towers with investment cost of IDR 1 billion per unit. While the company also targets 2,500 new tenant this year.
HRTA – PT Hartadinata Abadi targets revenue growth of 15-20% this year. The increase in revenue will be supported by the addition of 200 new stores.
WSKT – PT Waskita Karya targets to obtain IDR 5 trillion from implementing factoring scheme to its LRT project in Palembang, South Sumatera.
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CORPORATE NEWS
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MAYA– PT Bank Mayapada Internasional plans to conduct right issue with target proceeds of IDR 2 trillion this year. The aim of the corporate action is to strengthen capital adequacy ratio to be at 17%.
MDLN– PT Modernland Realty, through its subsidiary, PT Mitra Sindo Sukses, launched New East, a commercial property with vibrant social center concept located in Jakarta Garden City, East Jakarta. The 45-hectare project is located 300m from Aeon Mal. In the first launching, MDLN sold 90% of total units amounting to IDR 171 billion. SRIL– PT Sri Rejeki Isman targets USD 1 billion sales (30% growth yoy) in 2018. SRIL is currently in the process of acquiring 2 companies, namely PT Primayudha Mandirijaya and PT Bitratex Industries.
ARNA– PT Arwana Citramulia targets IDR 1.9 trillion sales in 2018 (11% growth to 2017 estimate). To support the new sales target, ARNA plans to increase its factories production capacity from 58 m2 to 64 m2 this year.
HRTA– PT Hartadinata Abadi targets gold sales to reach IDR 3 trillion in 2018 (20% yoy). According to HRTA, the company books IDR 2.5 trillion sales in 2017, achieving 19% growth yoy.
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