PT. Panin Asset Management

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January 30, 2018


US Economy - GDP rose at a 2.6% annual rate in the fourth quarter, the government said. That did not match the second and

thi d ua te s’ a o e % g o th ates, ut it ex eeded the %

average that has prevailed since the early 2000s. Investment in business equipment expanded at an 11.4% annual rate in the fourth quarter after a 10.8% growth rate in the third, the best six-month stretch since a burst of activity in mid-2014, economic-output report showed. Consumer spending rose at a 3.8% rate in the period, an increase last exceeded in late 2014. Orders for durable goods, products designed to last at least three years, such as airplanes and industrial robots, increased 2.9% from the prior month to a seasonally adjusted USD 249.45 billion in

De e e , the Co e e Depa t e t said. Last o th’s gai

was led by a 55.3% jump in orders for military aircraft and a 15.9% increase in civilian-airplane orders. A closely watched proxy for business investment in new equipment, new orders for nondefense capital goods excluding aircraft, fell 0.3% in December from the prior month.

US Jobs - Initial jobless claims, a proxy for layoffs across the U.S., increased by 17,000 to a seasonally adjusted 233,000 in the week ended Jan. 20, the Labor Department said. The four-week moving average, a steadier measure, fell 3,500 to 240,000 last week. US Housing - Sales of new U.S. single-family homes fell more than expected in December, recording their biggest drop in nearly 1-1/2 years, likely as the boost from the replacement of flood-damaged houses in parts of the South affected by hurricanes faded. The Commerce Department said on Thursday new home sales declined 9.3% to a seasonally adjusted annual rate of targets 2018 new contract up 28.4% yoy to IDR 16.6 trillion. KRAS – PT Krakatau Steel allocates 2018 capex of IDR 7.3 trillion. On a separate note, KRAS may divest three subsidiaries through IPO. They are PT Krakatau Tirta Industri, PT KHI Pipe Industries, and PT Krakatau Bandar Samudra.

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BBKP – PT Bank Bukopin targets 2018 net income to grow between 10-15% yoy. BBKP will allocate IDR 150 billion to two subsidiaries, namely PT Bank Syariah Bukopin and PT Bukopin Finance.

PGAS – PT Perusahaan Gas Negara allocates capex of USD 668 million or equivalent to IDR 8.88 trillion this year, up 304.84% from 9M2017 realization.

WIKA – PT Wijaya Karya IDR 5.4 trillion global bond denominated in rupiah (komodo bond) is now listed in London Stock Exchange. WIKA claims the bond has been oversubscribed by 2.5 times.



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