DAILY UPDATE
February 1, 2018
MACROECONOMIC NEWS
US Economy - The Conference Board's measure of consumer confidence rose to 125.4 in January, higher than the 123 anticipated by economists polled by Bloomberg. The measure had declined to 122.1 in December. "Expectations improved, though consumers were somewhat ambivalent about their income prospects over the coming months, perhaps the result of some uncertainty regarding the impact of the tax plan," Lynn Franco, Director of Economic Indicators at The Conference Board, said in a statement.
The S&P CoreLogic 20-city property values index increased 6.4% YoY in November, after climbing 6.3% YoY in the previous month. The Fed - Federal Reserve officials, meeting for the last time under Chair Janet Yellen, left borrowing costs unchanged while adding emphasis to their plan for more hikes, setting the stage for an increase in March under her successor Jerome Powell. The o ittee e pe ts that e o o i o ditio s ill e ol e i a manner that will warrant further gradual increases in the federal fu ds rate, the poli -setting Federal Open Market Co ittee said i Washi gto , addi g the ord further t i e to previous language. The changes to the statement, collectively acknowledging stronger growth and more confidence that inflation will rise to their 2% target, may spur speculation that the Fed will pick up the pace of interest-rate increases. Officials also said i flatio is e pe ted to o e up this ear a d to sta ilize around the goal, in phrasing that marked an upgrade from their statement in December.
CORPORATE NEWS
MDIA, VIVA – PT Intermedia Capital will issue up to USD 300 million 5-year global bonds with maximum coupon of 10% pa. MDIA will use the proceed to provide up to USD 350 million loan to its subsidiary, PT Cakrawala Andalas Televisi, and up to USD 400 million to its parent company, PT Visi Media Asia. The
CORPORATE NEWS
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TLKM –PT Teleko u ikasi I do esia’s su sidiar , PT Metra et ill su s ri e to Cellu Glo al Zrt’s (a Hu gar ased company) private placement. The amount of transaction is USD 6 million and the ownership will be equal to 30.4%. SDMU – PT “ido ul o “elaras o tai ed shareholders’ appro al for the issua e of 113.5 illio shares through private placement mechanism. The exercise price is IDR 270.8 per share.
DILD– PT Intiland Development booked IDR 3.37 trillion marketing sales in FY17 (+106.8% YoY). The contribution from recurring income is IDR 432 billion.
CMNP– PT Citra Marga Nusaphala Persada plans to distribute bonus shares this year. The company obtained IDR 677 billion net income in 2017.
MKNT– PT Mitra Komunikasi Nusantara will continue its right issue plan which is scheduled for completion in 3Q18. The target proceed from the corporate action is estimated to reach IDR 1-1.2 trillion. MKNT targets IDR 9 – 10 trillion revenue and IDR 90 – 100 billion net profit in 2018.
PTPP– PT PP plans to issue IDR 3 trillion bond through continuous public offering in 2018. The proceed will be used to fund infrastructure investments and bond refinancing.
NISP– PT Bank OCBC NISP books IDR 2,2 trillion net profit in 2017, up by 22% yoy.
BBHI – PT Bank Harda International will conduct rights issue with target proceed of IDR 100 billion in March 2018. The proceed will be used to support credit growth.
TOPS – PT Totalindo Eka Persada targets IDR 4 trillion new contract in 2018, up by 33% yoy. In addition, TOPS allocates IDR 100 billion capex budget in 2018.
SIDO– PT Industri Jamu dan Farmasi Sido Muncul targets revenue growth of 15% yoy in 2018. IPCM– PT Jasa Armada Indonesia targets IDR 170 billion net profit in 2018, up by 43% yoy.
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