DAILY UPDATE
January 26, 2018
MACROECONOMIC NEWS
US Economy - The IHS Markit Flash U.S. Manufacturing PMI rose
to 55.5 i Ja uar Bloo erg o se sus 55 fro De e er’s
55.1. The latest reading indicated towards the sharpest rebound in manufacturing business conditions since March 2015. Input purchasing rose at the most rapid pace since early-2015, stimulated by increasing production and attempts to build inventories throughout the manufacturing sector. The latest rise in stocks of purchases was the most robust since January 2017. Eurozone Economy - The flash pur hasi g a agers’ i de es for the eurozone was surprisingly strong with the composite reading climbing to 58.6 from 58.1 in December and expectations of a pullback to 58.0.
Malaysia Economy - Malaysia's central bank on Thursday raised its key interest rate for the first time in four years ahead of general elections due by August. Bank Negara Malaysia raised its overnight policy rate, used by banks to calculate interest rates, to 3.25 percent from 3 percent, citing a stronger domestic and global economy.
CORPORATE NEWS
WIKA – PT Wijaya Karya obtained USD 594 million loan from the China Development Bank (CDB) for its Jakarta – Bandung express train project.
CTRA – PT Ciputra Development allocates capex of IDR 1.5 trillion this year, same as last year’s realization. The proceeds will be used for land acquisition and commercial property development. CTRA aims to acquire 100 hectares land and sets a conservative target of 15-20% sales growth this year.
LPPF – PT Matahari Development Store plans to launch 6-8 new stores in 2018 to boost revenue.
BBRI – PT Bank Rakyat Indonesia will raise up to IDR 10 trillion through the issuance of bonds. The proceeds will be used to repay its loans and working capital expansion this year.
SIDO – PT Sidomulyo Selaras will conduct private placement with target proceed of IDR 30.75 billion or exercise price of IDR 270.84
per share. PT. Panin Asset Management JSX Building Tower I, 3rd Floor
CORPORATE NEWS
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GMFI – PT Garuda Maintenance Facility AeroAsia plans to expand by opening Maintenance, Repair and Overhaul (MRO) branch in Middle East, East Asia, Indo China, and Australia.
TBLA – PT Tunas Baru Lampung will issue USD denominated global bond amounting to USD 200 million (eqv. IDR 2.698 trillion). The term period is 5 years while the coupon rate is 7%. The proceed will be used to repay loan and fund interest reserve account.
PGAS –PT Perusahaa Gas Negara o tai ed shareholders’ appro al to ha ge its status from state owned to non-state owned. 56.96% ownership that is currently hold by the government will be controlled by PT Pertamina. SOBI – PT Sorini Agro Asia Corporindo will hold extraordinary general shareholder meeting on 27 February 2018 to obtain shareholders’ appro al to go pri ate.
FORZ – PT Forza Land Indonesia plans to conduct right issue with target proceed of IDR 500 billion in 3Q18. The proceed will be used for 100 ha land acquisition in 5 different locations.
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