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January 16, 2018


US Economy -

The consumer-price index rose just 0.1% from

November (Bloomberg consensus 0.1%), but core prices jumped

0.3% (Bloomberg consensus 0.2%), the most in 11 months.

Supporting the rise in underlying inflation pressures last month,

rents increased 0.4%. Owners' equivalent rent of primary

residence climbed 0.3% after gaining 0.2% in November. The cost

of medical care increased 0.3%, with prices for prescription

medication surging 1.0% after rising 0.6% in November. The cost

of both hospital and doctor visits increased 0.3%.

Euro-zone Economy


Europea U io ’s statisti s age

released the eurozo e’s gross do esti produ t data pri t hi h

came in 0.7% higher than in the three months through June. The

stronger performance means Eurozone economic growth in 2017

is more likely to reach the 2.4% forecast by the European Central

Ba k’s e o o ist.



PT Wijaya Karya targets to raise USD 400 million through

the issuance of Rupiah-denominated global bonds, Komodo

Bonds, with roadshow in Asia, London, and the US starting

January 16


2017. Rated Ba2 by Moody

s, WIKA plans to use the

proceeds from the bonds issuance for prefunding and capex



PT Tiga Pilar Sejahtera Food was downgraded by Pefindo

from idBBB to idBB+ with credit watch and negative implication.


PT Mitra Keluarga Karyasehat will buy back up to 5% of

its issued capital or 727.54 million shares. At closing price of IDR

1800/shares as of January 15th 2017, MIKA will potentially raise

IDR 1.3 trillion.


PT Minna Padi Investama Sekuritas will issue 11.3 billion

new shares through rights issue. At closing price of IDR

750/shares as of January 15th 2017, PADI will potentially raise

IDR 8.47 trillion.


PT Bank Negara Indonesia targets SME loan to grow 20%

to IDR 12 trillion in North Sumatera and Aceh this year.


PT Cilipan Finance Indonesia booked funding growth of

145% throughout 2017. Credit distributed reached IDR 8.37


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JSX Building Tower I, 3rd Floor



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PT Bank Pembangunan Daerah Jawa Timur booked net profit of IDR 1.15 trillion as of December 2017, up

12.76% yoy through efficiency.


PT M Cash Integrasi acquired 99% shares of PT Buana Agya Cipta, a company that owns the brand Elebox.


PT Waskita Karya obtained IDR 1 trillion syndicate loan from 4 banks: SMI, Bank of Tokyo, BMRI and BNGA.

The proceeds will be used to fund the construction of Salatiga-Kartasura toll road.


PT Totalindo Eka Persada signed a IDR 600 billion contract to construct flats with 0 down payment.


PT Ristia Bintang Mahkotasejati plans to conduct right issue of 653.44 million new shares. The proceed is

targeted to reach IDR 326 billion.



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The information and/or opinions contained in this report has been assembled by Panin Asset Management from sources which we deem to be reliable and in good faith, but no representation or warranty, express or implied, is made as to their accuracy, completeness or correctness. This report may not be reproduced, distributed or published by any recipient for any purpose. Any recommendations contained herein are based on a consideration of the securities alone, and as such are conditional and must not be relied upon as a solitary basis for investment decisions. Under no circumstances is this report to be used or considered as an offer to sell, or a solicitation of an offer buy.

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