KIJA: tie up with 3 SOE, Pelabuhan Indonesia 2, GIAA & JSMR to build
infrastructure to support its West Java Tourism development including a
Cruise Terminal & Marina, airport and toll roads. Co will also issue Rp2.2trn
worth of $ bonds, partly to refinance its 2012 $175m bonds
Clsa Upgrade DILD Tp 700- DILD: Stifanus reiterate BUY but raised TP to 700 from 567 expecting Co to soon receive final license to reclaim 63ha island (part of the incentive to improve Jakarta's infra) which will boost RNAV by 15% and 100% when fully realised. Upgrades RNAV by 26% on this as well as fast tracking construction of its projects. Further upside expected as reclamation landbank gets realised
• PT Sierad Produce Tbk (SIPD), PT Charoen Pokphand Indonesia(CPIN), PT Japfa Comfeed Indonesia (JPFA) dan PT Malindo Feedmill (MAIN) lolos dalam audit yang dilakukan pemerintah Jepang untuk ekspor daging ayam ke Jepang.
IHSG naik terdorong bursa regional.. Hanseng naik & closing +2,3%, terdorong oleh sentimen positif dr meningkatnya aktivitas sektor jasa di china.. Bursa eropa rata2 naik diatas +1%, Dow fut saat ini naik 87 poin.. Market global & regional terdorong oleh sentimen positif dari reboundnya Rubel rusia stelah rusia & ukraina menyetujui gencatan senjata permanen.
02/Sep/2014 at 17:49
HEXINDO ADIPERKASA ALOKASIKAN SEBESAR 35 PERSEN LABA BERSIH UNTUK DEVIDEN.
IQPlus, (02/09) - Dalam Rapat Umum Pemegang Saham Tahunan (RUPST) yang digelar PT Hexindo Adiperkasa Tbk (HEXA), beragendakan yakni menyetujui pembagian dividen tunai kepada pemegang saham sebesar 35% dari laba bersih US$21,92 juta yaitu US$7,64 juta .
Direktur Pemasaran HEXA, Djonggi Gultom mengungkapkan bahwa, dalam RUPST telah disetujui sebanyak 35% dari laba bersih tahun 2013 sebesar US$21,92 juta yaitu US$ 7,64 juta untuk dibagikan sebagai dividen tunai sebanyak 840 juta saham senilai Rp106,7 per saham.
Selain itu, sisanya akan dialokasikan untuk laba ditahan sebesar US$14,24 juta dan dana cadangan sebesar US$29,57 juta.
"Pembagian dividen yang diberikan perseroan seiring dengan kinerja penjualan perseroan yang cukup bagus yakni mencapai US$119 juta," ujarnya di Jakarta, Selasa.
Lebih lanjut ia mengatakan kalau, alat berat masih memberikan kotribusi besar kepada perseroan sebesar US$ 58 juta dengan penjualan mencapai 455 unit.
Sementara itu, perseoran akan menargetkan penjualan 2.210 unit hingga akhir Maret 2015. Perusahaan akan tetap fokus pada penjualan excavator Hitachi di empat sektor utama, yakni tambang 10%, agro 30%, forestry 40%, dan konstruksi 20%. (End/fu)
Wednesday (03/09/2014) Early BIRD Fundamental Perspective (Edwin Sebayang CSA®-MNC Securities)
Kejatuhan tajam harga minyak mentah Nymex yg kemudian menarik turun harga saham emiten berbasis oil (Chevron, Exxon Mobil, Peabody Energy) menjadi faktor negatif DJIA dilanda profit taking dalam perdagangan Selasa sebesar -30.89 poin (-0.18%), menghadang sentimen poitif naiknya data factory activity AS bulan Agustus tertinggi selama 3-1/2 tahun terakhir (Maret 2011) dilevel 59 (lebih tinggi dari data juli dilevel 57.1) & kuatnya rebound data construction spending bulan Juli ditengah ramainya perdagangan tercermin dlm vol perdagangan berjumlah 5.2 miliar saham (jauh diatas rata-rata 5 hari perdagangan terakhir berjumlah 4.4 miliar saham).
Kombinasi penguatan US Dollar, melimpahnya supply serta melemahnya permintaan dari China serta Eropa menjadi faktor negatif kejatuhan tajam harga komoditas spt: Oil -2.81%, Gold -1.64%, Nickel -1.04% & tin -0.62%.
Setelah IHSG naik selama 2 hari sebesar +64.73 poin (+1.25%), kombinasi antara turunnya DJIA -0.81%, kejatuhan Rupiah atas USD yg mendekati 11,750 & kejatuhan tajam beberapa harga komoditas berpotensi menghambat kenaikan IHSG Rabu ini, bahkan bukan mustahil IHSG berbalik dilanda profit taking ditengah kembali mahalnya valuasi IHSG. Strategi trading short term atau day trade sangat direkomendasikan untuk menghindari pembalikan arah market secara tiba-tiba.
DJIA -30.89 -0.18% 17067.56
NASDAQ +17.92 +0.39% 4598.19
OIL -2.70 -2.81% 93.26
GOLD -21.1 -1.64% 1266.3
TIN -215 -0.62% 21,515
NICKEL -195 -1.04% 18,550
CPO +24 +111.24 1,953
EIDO +0.16 +0.56% $28.9
TLK 46.41 (2,726)
IDR 11,748
Wednesday (03/09/2014) Early BIRD Technical Prespective (Edwin Sebayang CSA®-MNC Sec)
IDX Composite 5,172- 5,217 Pola Two White Soldiers terbentuk atas IDX mengindikasikan Bullish Continuation.
Wednesday Stocks Pick:
INTP 24075-25000 (TP 2014F:27050) Pola Bullish Engulfing terbentuk atas INTP mengindikasikan Bullish Reversal. BUY 24425
GGRM 55000-5600 (TP 2014F:59950) Pola Two White Soldiers terbentuk atas GGRM mengindikasikan Bullish Continuation. BUY 55475
INCO 4155-4345 (TP 2014F:4500) Pola White Marubozu terbentuk atas INCO mengindikasikan Bullish Reversal. BUY 4240
JSMR 6250-6475 (TP 2014F:6675) Pola Two White Soldiers terbentuk atas JSMR mengindikasikan Bullish Continuation. BUY 6350
TBIG 7950-8200 (TP 2014F:9300) Pola Dragonfly Doji terbentuk atas TBIG mengindikasikan melambatnya aksi beli. BUY 8025
ICBP 10725-11075 (TP 2014F:12650) Pola Homing Pigeon terbentuk atas ICBP mengindikasikan melambatnya aksi beli. BUY 10875
SMGR 16175-16425 (TP 2014F:18000) Pola Two White Soldiers terbentuk atas SMGR mengindikasikan Bullish Continuation. BUY 16250
ADRO 1310-1360 (TP 2014F:1410) Pola White Closing Marubozu terbentuk atas ADRO mengindikasikan Bullish Reversal. BUY 1330
UNTR 22100-22600 (TP 2014F:24650) Pola Homing Pigeon terbentuk atas UNTR mengindikasikan aksi beli. BUY 22200
ASII 7625-7825 (TP 2014F:8100) Pola Two White Soldiers terbentuk atas ASII mengindikasikan Bullish Continuation. BUY 7700
PTBA 13375--13800 (TP 2014F:14550) Pola Two White Soldiers terbentuk atas PTBA mengindikasikan Bullish Continuation. BUY 13525
UNVR 31825-32200 (TP 2014F:33500). Pola Evening Doji Star terbentuk atas UNVR mengindikasikan melambatnya aksi beli. BUY 31975
PGAS 5775-5925 (TP 2014F:6300) Pola White Opening Marubozu terbentuk atas PGAS mengindikasikan Bullish Reversal. BUY 5825 (ES CSA®-MNC Sec/Disc On)
Wednesday IDX Range: 5,172- 5,217
BUY: INTP, GGRM, INCO, JSMR, TBIG, ICBP, SMGR, AKRA, ADRO, UNTR, ASII, PTBA, UNVR, PGAS (ES CSA®-MNC Sec/Disc On)
"Have an Astonishing Wednesday & GBU All"
RISET AND NEWS SEPT 03, 2014
• RISET CIMB
1.Construction | PDF
A rising tide lifts all boats
OVERWEIGHT - Maintained
Construction | Author(s): Linda LAUWIRA +62 (21) 30061734,
We explore a trading idea for private contractors on the back of: 1) better visibility of recovery in the property sector post the presidential election, 2) the private sector’s significant underperformance, 3) the valuation gap between state-owned and private contractors, with the latter’s below-historical valuations, and 4) increasing odds of M&A. We highlight private contractors ACST (NR), NRCA (NR) and TOTL. Despite their smaller capitalisation and lower liquidity vs. SOEs, we note that these concerns waned when the outlook brightened.
2.Economic Update | PDF
ASEAN GDP growth: robust but divergent
Author(s): Julia GOH +60 (3) 2261 9097,
ASEAN-5 continued to post robust growth in 2Q14 though overall growth was dragged down by Singapore and Indonesia. Growth of ASEAN-5 is expected to accelerate to above 6% in 2015 (vs. estimated 6.1% in 2014) while peripheral ASEAN members (CLMV) should also show a marginal rise in growth, buoyed by higher demand from advanced economies and investments in the region
Indonesia Sells Rp 15t at Bond Auction, Above Target
Jakarta. Indonesia sold Rp 15 trillion ($1.28 billion) of conventional bonds at an auction on Tuesday, above an indicative target of Rp 10 trillion, Robert Pakpahan, head of the finance ministry’s debt management office, told Reuters.
Bids totaling Rp 31.1 trillion were accepted, higher than Rp 21.68 trillion from the previous sales and the highest since March, according to a research report by Bank Mandiri.
AGENDA EMITEN
4 September
• CMPP Mulai Perdagangan Dengan Nominal Baru
• IPOL CashDeviden DistDate
- BI : Survei Konsumen Agustus 2014
5 September
- BI : Cadangan Devisa Agustus 2014
8 September
- CumDate Deviden LTLS Rp.29
- CumDate Deviden PTIS Rp.8
AGENDA EMITEN
4 September
• CMPP Mulai Perdagangan Dengan Nominal Baru
• IPOL CashDeviden DistDate
- BI : Survei Konsumen Agustus 2014
5 September
- BI : Cadangan Devisa Agustus 2014
8 September
- CumDate Deviden LTLS Rp.29
- CumDate Deviden PTIS Rp.8
1) Indeks Dow Jones ditutup di 17,067.56 melemah 30.89 (0.18%) #kopipagi
2) IHSG ditutup di level 5,201.59 menguat 23.97 point (0.46%), menguji resisten terkuat 5250 #kopipagi
3) Speculative : ACES 950-1000, BBNI 5450-5600, BBTN 1120-1160, EXCL 6200-6500 #kopipagi
4) DOID 215-240, ERAA 1200-1350, INCO uji resisten 4230, tunggu konfirmasi breakout jika ingin buy. #kopipagi
5) JPFA range1320-1400, SSMS 1370-1500, TAXI 1350-1400 #kopipagi
6) Ketika Anda berada di persimpangan & tidak tahu arah, ikuti GPS Anda mau belok ke mana. #kopipagi
7) Ketika menghadapi “persimpangan” resisten (dan suport), tunggu KONFIRMASI breakout R (dan pantulan utk S) dari grafik.
8) Semoga #kopipagi selalu menyegarkan analisis & trading Anda. Salprof ! On.fb.me/ellen_may
Disclaimer ON
MARKETs STOCK INDEXES
(03 September 2014)
• INDONESIA
JCI : 5,201.586 +23.968 +0.463%
Val : 4,660 (Bill Rp), Vol : 7,118 (Mill. Sh)
Reguler : 3,694 B
Negotiated : 967 B
Today Foreign Net Trading Value : Net Sell -230.8 (in billion Rp)
Year 2014 Foreign Net Trading Value : Net Buy 55,770.7 (in billion Rp)
• US MARKETs
DJIA : 17,068 -30.89 -0.18%
S&P 500 : 2,002 -1.09 -0.05%
Nasdaq : 4,598 +17.92 +0.39%
VIX : 12.25 +0.27 +2.25%
EIDO : 28.93 +0.18 +0.63%
DJUSCL : 128.73 -2.05 -1.57%
• EUROPE MARKETs
DAX : 9,507 +27.99 +0.30%
FTSE 100 : 6,829 +3.86 +0.06%
CAC 40 : 4,378 -1.40 -0.03%
ARMS.L : 69.00 -0.50 -0.72%
• ASIA PACIFIC MARKETs
Nikkei 225 : 15,669 +192.00 +1.24%
Shanghai : 2,266 +30.54 +1.37%
Hangseng (HSI) : 24,749 -3.07 -0.01%
ASX 200 : 5658.51 UNCH 0.00%
KOSPI : 2,051.58 -16.28 -0.79%
Malaysia (KLCI) : 1,867.69 +1.58 +0.08%
Singapore (STI) : 3,328 +14.17 +0.43%
• DUALISTING :
ASX:ATM (ANTM, CDI 1:5) : 1.10
NY:TLK (TLKM) : 46.41 +0.35 +0.76%
SP:JAP (Japfa Ltd) : 0,915 SGD +0.00 +0.00%
US:VALE (Vale SA) : 12,83 -0,23 -1,76%
NYSE:BTU (Peabody Energy Corporation) : 15.29 -0.59 -3.72%
• COMMODITIES
Crude Oil (US$)/Barrel : 93.25 -2.71 -2.82%
Natural Gas (US$)/mmBtu : 3,89 -0,175 -4,31%
GOLD (US$)/Ounce : 1,267 -20.90 -1.62%
COAL (NEWC) (US$)/MT : 69.05 -0.15 -0.22%
CPO (MYR)/MT : RM1952 +23 +1.19% US $612
PULP (BHKP) (US$)/per ton (weekly) : 592.13
Nickel (US$)/MT (LME Nickel 3MO/LMNIDS03 ($)) : 18660 +205 +1.11%
TIN (US$)/MT (LME 3 Month Tin (LMSNDS03:COM)) : 21700 -150 -0.69%
• INDICATORs MACRO :
USD/IDR BI : 11,734.0
WTI OIL ($/bbl) : 96.0
BI RATE (14-08-2014) : 7.5 %
CAD Devisa/Foreign Reserve (US$) (25-07-14) : $ 110,542 M1
GDP Annual Growth Rate : 5.12%
INFLASI IHK (yoy) AGT 2014 : 3.99 %
Target Inflasi 2014 : 4,5% (±1%)
INOCD5 Indonesia CDS 5-yr : 132.50 +0.25 +0.19%
-----------------------------------------
[BPS Update] 03 September 2014
Break ke atas minor resistance diiringi oleh volume perdagangan yang tidak kecil dan peningkatan pada momentum. Pada perdagangan hari ini diperkirakan akan kembali menguji resistance 5,225 dan bila break berpotensi untuk kembali menguji all time high level di 5,251. Support: 5,193 – 5,156, resistance: 5,225 – 5,251.
- ROC rebound setelah menguji support dari triangle pattern.
- Indikator RSI break ke atas bearish trend line.
- MACD dan Stochastic masih bearish.
- Volume perdagangan cukup kuat.
Trading Ideas:
- BBTN: Trading buy. Stop loss: Rp. 1,120, resistance: Rp. 1,170 – Rp. 1,195.
- INCO: Trading buy. Stop loss: Rp. 4,225, resistance: Rp. 4,425 – Rp. 4,475.
- JPFA: Trading buy. Stop loss: Rp. 1,330, resistance: Rp. 1,390 – Rp. 1,395.
- TAXI: Trading buy. Stop loss: Rp. 1,345, resistance: Rp. 1,400 – Rp. 1,445.
(Disclaimer On)
Daily Technical - Rabu, 3 September 2014
Jakarta Composite Index (JCI): Sideway
· Estimasi indeks (03-Sep-14) : 5.150-5.220
· Katalis:
- Inflasi Agustus tercatat di 4.0%, sesuai ekspektasi
- Neraca perdagangan Indonesia pada Jul14 tercatat surplus US$124jt (vs estimasi defisit US$406jt)
- Suku bunga acuan BI dipertahankan pada 7,5%
· Ulasan teknikal:
- Resisten IHSG di level 5.250
- Tren naik sejak Des13 telah patah; potensi sideways di 4.830-5.100
- Area 5.100-5.250 menjadi area profit taking
- Basis support di 4.840 untuk akumulasi MT trading
Our Best Trading Ideas for Today
TLKM Add Potensi ST trading range 2.650-2.800
ASII Add Potensi ST trading range di 7.550-8.000
PGAS Add Breakout konsolidasi 5.200-5.800; target 6.400
WIKA Red Potensi trading range 2.500-2.900.
ADRO Red Potensi sideways market 1.050-1.350
What’s Interesting?
Data manufaktur AS pada Aug14 tercatat di 57,9, sedikit lebih rendah dari ekspektasi pasar di 58,0.
Sumber: Bloomberg, Kresna Research
Kresna Research Department
(Disclaimer On)
Daily Morning - Wed, 03 Sept 2014
MARKET UPDATE
Global equity markets traded mostly southwards on Tuesday. Asian and the US were down by 0.1% (147.9) and 0.2% (17,068), while EU traded flat. South Korean shares dropped by 0.8% (2051.6) after data showed annual inflation in August fell to a five-month low, giving way to expectations that the central bank may now have room to cut interest rates at its meeting later this month. However, the downward momentum was checked as Japan's benchmark Nikkei steadily rose to a seven-month high (by 1.2%, settling at 15668.6) while the yen weakened (by 0.7%, settling at ¥105.1/US$) to a new 2014 low, after data showed that summer bonuses and regular pay rose for the second straight month in July. Across the ocean, U.S. stocks edged down as Markit reported its final measure of U.S. manufacturing in August at 57.9, down from an initial reading of 58. Participants were also weighing up the possibility that the European Central Bank will announce fresh stimulus measures this week at its policy meeting on Thursday. Moving to our domestic markets, the Jakarta Composite Index advanced by 0.5% (5,202) as participants were looking for bargains. Thus, having all above sentiments, today we expect the JCI to trade within 5,150-5,210 today.
Source: Bumi Anyar, Bloomberg, Metastock
HEADLINE NEWS
· KIJA and Pelindo II amass Rp580bn
· JSMR seeks US$85.0 from bond sale
· DOID secures US$1.2bn contract from BRAU
· AALI sales volume down by 11.8%
Kresna Research Department
(Disclaimer On)
TODAY 03 SEPTEMBER
• CMPP Mulai Perdagangan Dengan Nominal Baru
• IPOL CashDeviden DistDate
• EVENT/CONFERENCE :
03-05 Sept UBS ASEAN Conference 2014 @Singapore
03-Sep 04-Sep London, U.K. European TMT Conference Deutsche Bank institutional salesperson
03-Sep 04-Sep Singapore Australia and New Zealand Corporate Day Macquarie Securities institutional salesperson
• AGENDA POLITIC :
10:00 RDP Komisi VIII DPR RI dengan Irjen, Dirjen Dayasos dan Gulkin, serta Kabadiklit Kesos Kementerian Sosial RI.
14:30 Rapat Kerja Komisi VIII DPR RI dengan Menteri Agama RI, Menteri Keuangan RI, Menteri Pan dan RB RI, serta Menteri Hukum dan HAM RI.
• AGENDA ECONOMIC :
US : Factory Orders MoM, Factory orders ex transportation MoM, 4-Week Bill Auction, MBA Mortgage Applications, MBA 30-Year Mortgage Rate 25/AUG, Chain Store Sales YoY, Chain Store Sales WoW, Redbook MoM, Redbook YoY
AU : AIG Services IndexAUG, GDP Growth Rate QoQ, GDP Growth Rate YoY
CN : Non Manufacturing PMI, HSBC China Services PMI
HK : HSBC Manufacturing PMI
IN : HSBC India Services PMI
RU : HSBC Services PMI
SE : PMI Services
TR : Inflation Rate YoY, Inflation Rate MoM AUG, PPI MoM/YoY
ZA : KASIGO Manufacturing PMI AUG
ES : Markit Services PMI
IT : Markit/ADACI Services PMI
FR : Markit Comp PMI Final, Markit Services PMI - Final
DE : Markit Comp PMI Final, Markit Services PMI - Final
EU : Markit Comp PMI Final, Markit Services PMI - Final AUG, Retail Sales MoM/YoY
NO : Current Account Q2
GB : Markit/CIPS UK Services PMI AUG
BE : Retail Sales MoM/YoY
FI : Retail Sales MoM
FR : Retail Sales MoM/YoY
PL : Retail Sales MoM, Interest Rate Decision
PT : Retail Sales MoM
CA : BoC Interest Rate Decision
BR : HSBC Services PMI
------------------------------------------
-FR CLSA : BBCA IJ -Jayden reiterate UPF TP 12300 viewing recent reduction in top tier deposit rates by 75bps in 2 rounds since mid August on better liquidity and Co's slower than expected credit growth would likely benefit its competitors. Co has also been losing CASA market share with its growth lagging the system, 5% in 1H vs 8%. Prefers BBRI and BBNI.
-FR CLSA : JSMR IJ – Jasa Marga plans to issue Rp1tn (US$85m) bonds as phase 2 of its Rp5.95tn (US$504m) bond issuance. Company announced it will use the proceeds to refinance old debts.
-FR CLSA : Sritex, SRIL IJ
Rec & TP: U-pf & Rp186/sh
Event: 2Q14’s result – weak due to higher interest cost & forex loss sent erode NPAT
-FR JP MORGAN : Key company news: 1) Tower Bersama and Sarana Menara are among the bidders to buy XL Axiata’s towers worth $500m. 2) Bank Mandiri signed a cooperation agreement with Pos Indonesia and Taspen, to mark a legal beginning of their JV via Bank Sinar Harapan Bali. 3) Bank Rakyat Indonesia intends to acquire stated-owned life insurer PT Jiwasraya. 4) CVC Capital sold its 11.5% ownership in Matahari Department Store. 5) Semen Indonesia is looking to develop 200-ha township in Gresik. 6) BSDE aims to develop a 200-ha industrial estate in Surabaya.
Menurut data Badan Pusat Statistik (BPS), inflasi untuk bulan Agustus berada di level 3,99% YoY yang merupakan inlfasi terendah pada tahun ini. Sementara itu, indeks kepercayaan konsumen (consumer confidence index) pada bulan Juli berada di level 119,8, yang merupakan level tertinggi sejak 2012. Kami melihat turunnya inflasi dan meningkatnya indeks kepercayaan konsumen dapat meningkatkan daya beli konsumen pada produk bermerek yang dijual perusahaan ritel ternama. Salah satu perusahaan ritel ternama yang akan mendapatkan keuntungan dari peningkatan daya beli konsumen adalah ACE Hardware Indonesia (ACES).ACES adalah perusahaan ritel yang menjual produk-produk untuk rumah dan gaya hidup yang memiliki konsep one-stop shopping solutions. Perseroan didirikan pada tahun 1995 dan dipilih oleh ACE Hardware Corporation di Amerika Serikat sebagai pemegang master franchise untuk merek ACE Hardware di Indonesia. Saat ini, ACES memiliki 107 toko di 29 kota di Indonesia. Perseroan menargetkan untuk memiliki 115 toko tahun ini. Pada 1Q14, ACES mencatat pertumbuhan laba bersih sebesar 18% YoY dan pertumbuhan pendapatan sebesar 22% YoY. Selain itu, laba bersih perseroan meningkat cukup signifikan dibandingkan tahun lalu di Rp245,6 miliar (32,6% YoY). Menurut pandangan kami, laba bersih perseroan akan terus bertumbuh seiring dengan ekspansi bisnis perseroan. Meningkatnya kelas menengah dan perkembangan sektor properti juga diharapkan dapat mendorong pertumbuhan perseroan.Saat ini, ACES diperdagangkan pada forward P/E sebesar 28,9x, relatif lebih rendah dibandingkan LPPF (30,2%), MAPI (31,9%), dan MPPA (42,2%). Return on Equity (ROE) perseroan juga cukup stabil di sekitar 22-27% dalam 3 tahun terakhir. Kami menyarankan investor untuk melihat ACES bila tertarik dengan perusahaan ritel di Indonesia.
Stock in Focus : ACES, BWPT, JPFA, LSIP. DISCLAIMER ON.
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