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February 2, 2018


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).


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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).



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