DAILY UPDATE
January 15, 2018
MACROECONOMIC NEWS
US Economy - Retail sales increased a seasonally adjusted 0.4% in December from the prior month, the Commerce Department said, falling short of the expectations of economists surveyed by The Bloomberg of 0.5%. Retailers had their best holiday season since 2010, according to the National Retail Federation, which reported that sales in the November-December period rose 5.5% compared with the year earlier period. This increase topped the t ade g oup’s e pe tatio s fo sales e ludi g estau a ts, automobiles and gasoline to rise 3.6% to 4%.
Business inventories in the U.S. rose 0.4% in November (Bloomberg consensus 0.4%) after no change in the prior month, the Commerce Department said. Sales jumped 1.2% in the month. The ratio of inventories to sales, meanwhile, fell to 1.33 from 1.34. One year ago, the inventory-to-sales ratio was higher at 1.40, reflecting an excessive buildup in production not is still that the Fed will raise interest rates three times this year, stressing the need for the cent al a k to a t i a g adual a , ut to o ti ue to e o e the a o odatio . He added that he sees economic growth for the U.S. between 2.5% and 2.75% this ea . Chi a holds the o ld’s la gest fo eig -exchange reserves, at USD 3.1 trillion, and regularly assesses its strategy for investing them
CORPORATE NEWS
GMFI –PT Garuda Maintenance Facility AeroAsia allocates capex of USD 100 million in 2018 to fund business expansion to the Middle East.
HOKI– PT Buyung Poetra Sembada allocates IDR 100 billion in 2H2018 for new factory development. HOKI will use internal cash and bank loans. HOKI targets sales and profit to grow 11%-12% in 2018.
PT. Panin Asset Management JSX Building Tower I, 3rd Floor
CORPORATE NEWS
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TLKM– PT Telekomunikasi allocates 60% of 2018 budget for its subsidiary, PT Telekomunikasi Seluler to develop base transreceiver station.
SCMA– PT Surya Citra Media targets to raise IDR 3.57 trillion through private placement. SCMA will issue up to 1.46 billion new shares or 10% of issued capital at IDR 2466/share.
BFIN– PT BFI Finance Indonesia distributed IDR 14.3 trillion credit financing throughout 2017, exceeding its IDR 13 trillion target, up 33.6% from 2016.
WSBP - PT Waskita Beton Precast booked IDR 11.03 trillion new contract in FY17. The realization is equal to 89.67% of 7’s target set by the management.
AKRA –PT AKR Co po i do’s usi ess of o -subsidy fuel is ready for operation. AKRA established a JV with British Petroleum (BP) that involves in providing fuel to retail. AKRA owns 51% of the JV while the rest is owned by BP. PSSI– PT Pelita Samudera Shipping targeted an increase in revenue by 34% this year. The company has acquired 4 additional ships at the end of last year. With the additional ships, the company expects a growth in the volume of coal transport hence, an increase in revenue.
ADRO – PT Adaro Energy plans to accelerate the process of drilling of 2,375.5 meter in Tutupan mining, South Kalimantan this month. Whereas the total drilling expense last year amounting to USD 1.71 million.
PTPP – PT PP Properti start the construction of Weston View, apartment and office towers project. The total investment amounting to IDR 3.9 trillion and the time of construction is 5-6 years.
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