PT. Panin Asset Management

Teks penuh

(1)

DAILY UPDATE

February 2, 2018

MACROECONOMIC NEWS

US Jobs - The employment-cost index, rose 2.6% over the past year, matching the largest annual increase since 2015, when compensation also increased at a 2.6% rate. The December quarter matched expectations with a 0.6% rise. Wages and salaries, which account for 70% of total compensation, rose 0.5% from the prior quarter. Benefit costs advanced 0.5%. The new year got off to a strong start for job creation, with businesses adding 234,000 in January. Within that sector some of the better-paying industries showed solid gains: Trade, transportation and utilities led with 51,000, education and health services added 47,000 and professional and businesses services contributed 46,000. Leisure and hospitality services also grew by 46,000. US Economy - The Chicago PMI slipped 2.1 points to 65.7. That is on a scale where any reading over 50 indicates improving conditions. The gauge was still very strong, backing a bit away from a nine-year high. The new-orders index fell to a five-month low in January.

US Housing - Pending sales rose 0.5% in December from the same month in 2016. Pending home sales rose 4.0% in the South from a year earlier, while they were up 0.3% in the Midwest. Pending home sales fell 2.7% in the Northeast and 3.1% in the West on a year-on-year basis.

Euro-area Economy - The data shows a drop in eurozone inflation to 1.3% in January from 1.4% in December. The fall was widely expected. Eurostat released numbers on eurozone unemployment, joblessness rate remained at 8.7% in Dec, in line with forecasts. Separately, data from Germany showed the ou try’s jo oo o ti ued i Ja uary as jo less claims fell by a more-than-expected 25,000.

Indonesia Economy - Annual headline inflation in Indonesia eased to 3.25% YoY in January 2018, from 3.61% YoY in the preceding month. The decline in Indonesian inflation was slightly steeper than estimated by analysts. Suhariyanto, Head of BPS, explained that Indonesia's January inflation was particularly caused by rising rice prices (contributing 0.24% to last month's inflation rate). Therefore, volatile food inflation was recorded at 2.58% YoY in January 2018. In addition to foodstuffs, inflation also occurred in the group of processed food products, cigarettes, and tobacco (tobacco inflation is due to the increase in the cigarette excise tax, effective per 1 January 2018).

CORPORATE NEWS

PT. Panin Asset Management JSX Building Tower I, 3rd Floor

(2)

CORPORATE NEWS

o t’d

UNVR – PT Unilever may book (unaudited) 2017 revenue of IDR 41.2 trillion, up 2.9% yoy and net income of IDR 7.0 trillion, up 9.6% yoy.

EXCL – PT XL Axiata reported 2017 financial results:

EXCL (IDR bn) 2016 2017 YoY Q3 2017 Q4 2017 QoQ

Revenue 21,341 22,876 7.19% 5,970 5,972 0.04%

Operating Profit 12 1,370 11111.91% 576 255 -55.78%

EBITDA 8,058 8,321 3.26% 2,280 2,120 -7.05%

Pretax Earnings 186 221 19.21% 167 29 -82.81%

Net Income 376 375 -0.07% 95 137 44.48%

EPS (IDR) 35.1 35.1 -0.07% 8.9 12.8 44.48%

Operating Profit Margin 0.10% 6.00% 5.90% 9.60% 4.30% -5.40% EBITDA Margin 37.80% 36.40% -1.40% 38.20% 35.50% -2.70% Net Profit Margin 1.80% 1.60% -0.10% 1.60% 2.30% 0.70%

WSBP – PT Waskita Beton Precast acquired IDR 400 billion new contract in January 2018. WSBP sets target contract of IDR 11. 5 trillion this year.

WTON –PT Wijaya Karya Beto targets ew o tra t to rea h IDR . trillio this year, up . % fro last year’s target.

SUGI – PT Sugih Energy commited to repay all of its USD 220 million debt. In addition, the company targets production to reach 1,500 bopd.

ITMG – PT Indo Tambangraya Megah plans to expand the construction of hydro power plant as well as solar power plant outside Kalimantan.

BBTN – PT Bank Tabungan Negara booked IDR 3.02 trillion net income in FY17 (+15.27% YoY). In addition, credit reached IDR 198.99 trillion (+21.01% YoY).

(3)

Disclaimer

The analyst(s) whose work appears in this report certifies that his or her remuneration is not correlated to his or her judgment(s) on the performance of the company(ies).

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.

All opi io s a d esti ates herei refle t the author’s judg e t o the date of this report a d are su je t to ha ge without notice. Panin Asset Management, its related companies, their officers, employees, representatives and agents expressly advice that they shall not be liable in any way whatsoever for any loss or damage, whether direct, indirect, consequential or othe wise howsoever arising (whether in negligence or otherwise) out of or in connection with the contents of and/or any omi sions from this communication.

Any investments referred to herein may involve significant risk, are not necessarily available in all jurisdictions, may be illiquid and may not be suitable for all investors. Investors should make their own independent assessment and seek professional financial advice before they make their investment decisions.

Due to its nature as an asset management firm, it is very much possible that Panin Asset Management and/or persons connected with it may, to the extent permitted by law, have long or short positions or may otherwise be interested in any transactions or investments (including derivatives) referred to in this publication. In addition, Panin Asset Management and/or its parent, Panin Sekuritas, and/or its affiliated companies may provide services for or solicit business from any company referred to in this publication.

The analyst(s) named in this report certifies that all of the views expressed by the analyst(s) in this report reflect the personal views of the analyst(s) with regard to any and all of the content of this report relating to the subject securities and issuers covered by the analyst(s) and no part of the compensation of the analyst(s) was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analyst(s) in this report.

Figur

Memperbarui...

Referensi

Memperbarui...