DAILY UPDATE
March 2, 2012
US Manufacturing – Manufacturing grew less than forecast in
February as orders eased, slowing the industry that has
powered the two-year expansion. The ISM factory index fell to
52.4 from 54.1 in January.
Dow Jones
Commodities – Commodities rose to the highest since May, led
by surging energy prices, as tensions in the Middle East
escalated and improving economic data signaled rising demand
for raw materials. The S&P GSCI Spot Index of 24 raw materials
rose 1.4%.
STI
Indo Macro – Inflation slowed to 3.56% YoY in February,
compare to 3.65% in previous month. Core inflation accelerated
to 4.31%, compared with a previously reported 4.29% pace in
January. Exports rose 6.1% YoY in January after gaining 2.2% in
December. Imports climbed 16%, and trade balance showed a
surplus of USD 923 million in January. The government will
propose revisions to the 2012 budget including raising the
inflation target to 6% to 7% from the current 5.3%, and boosting
the crude-price assumption to USD 105 a barrel from USD 90 a
barrel.
12980
0.22
2989
0.74
533
-0.91
9782
0.77
21388
-1.35
2979
-0.51
JCI
3962
-0.58
Indo ETF (IDX)
29.5
0.20
Indo ETF (EIDO)
29.7
-0.47
NASDAQ
MSCI excl. Jap
Nikkei
Hang Seng
US$ - IDR
9103
9098
US$ - Yen
81.12
81.28
Euro - US$
1.3311
1.3321
US$ - SG$
1.2500
1.2482
Oil NYMEX
108.9
1.71
1.6%
60.7
0
0.0%
Coal Newcastle
115.6
0
0.0%
Nickel
19495
240
1.2%
Tin
Coal NYMEX
23775
150
0.6%
IMAS – PT Indomobil Sukses Internasional targets 2012 revenue
of IDR 19.2 trillion, up 20% yoy. Besides, its mining contracting
business may start contributing to its revenue this year. On a
separate note, IMAS may spend USD 800-1,000 million to
expand its car sales in the next few years.
Gold
1720
6.6
0.4%
CPO Rott
1140
7.5
0.7%
CPO Malay
3185
-23
-0.7%
ASII - PT Astra Daihatsu Motor, a subsidiary of PT Astra
International, plans to invest USD 700 million to triple
production capacity.
1 year
4.21
-0.03
-0.78
3 year
4.70
-0.02
-0.34
5 year
4.81
0.00
-0.02
10 year
5.50
0.00
-0.02
15 year
6.00
-0.01
-0.08
30 year
6.39
0.00
0.00
ASGR – PT Astra Graphia targets 30% revenue growth this year.
The company allocates IDR 96 billion of capex for its printer
channel unit, which is expected to contribute 28% of revenue
this year. New product launches are scheduled for May and
November in order to meet this year’s target revenue.
PT. Panin Asset Management
JSX Building Tower I, 3rd Floor
Jl. Jend. Sudirman Kav. 52-53 , Jakarta 12190
T : (021) 515-0595 , F : (021) 515-0601
BMRI – PT Bank Mandiri is ready to give IDR 189 billion as a 4-year credit for more than 1,700 palm oil farmers. The
credit will be used to support 3,422 hectare of palm oil plantation. BMRI targets to give IDR 11 trillion in plantation
credit this year. On a separate note, the company aims for IDR 40 trillion in SME credit or business banking segment in
2012, up by 32.45% YoY.
BJBR – PT BPD Jabar dan Banten prepares IDR 1.4 trillion to support 8 toll road projects. The company targets a total of
IDR 32 trillion in credit this year or up 19.85% YoY, with a current realization of IDR 27.4 trillion. By the end of 2012,
BJBR expects to book IDR 6 trillion and IDR 8 trillion in commercial credit and micro lending respectively.
BBRI – PT Bank Rakyat Indonesia lowered its prime lending rate by 25 bps to all credit lines compared to February rate.
BBRI aims for a 20-22% credit growth (YoY) this year.
BBLD – PT Buana Finance obtained IDR 290 billion in financing from Industrial and Commercial Bank of China, PT Bank
Capital Indonesia, and PT Bank Danamon Indonesia until February 2012. The company currently needs IDR 2 trillion in
addition to the fund, and is now looking into issuing medium term notes.
LSIP - PT PP London Sumatra Indonesia received USD 50 million loan from Sumitomo Mitsui Banking Corporation.
Proceeds from the loan will finance LSIP's working capital.
MAPI - PT Mitra Adiperkasa booked IDR 5.88 trillion revenue in 2011, or 25% higher yoy. Revenue breakdown is as
follows: 59% from specialty stores, 26% from department store, 12% from food & beverage and 3% from others.
BTEL – PT Bakrie Telecom may raise its capital as much as USD 100 million through non pre-emptive rights issue.
MDLN – PT Modernland Realty targets 2012 revenue of IDR 1 trillion, up 102% yoy and net income of IDR 190 billion,
126% yoy.
SMAR – PT Sinar Mas Agro Resources and Technology allocates USD 500 million to expand plantation area and double
refining capacity. It will spend USD 250 million to increase planted area by 30,000 ha. Total capacity will be raised to
2.6 million tons per year from 1.35 million tons currently.
SHID – PT Hotel Sahid Jaya International secured IDR 180 billion loan from PT Bank CIMB Niaga. It will use IDR 120
billion to repay loan to Bank Mega and IDR 60 billion for renovation costs and fixed asset refinancing. The loan has a 6year tenor and carries 11% interest. The company currently operates 450 hotel rooms with average occupancy of
70%. Following renovations, the figure will increase to 721 rooms.
MYOR – PT Pefindo has maintained idAA- ratings for bond III/2008 and sukuk I/2008 of PT Mayora Indah with stable
outlooks.
RIGS – PT Rigs Tenders Indonesia is going to acquire CH Logistics Pte Ltd, CH Ship Management Pte Ltd,
and Grundtvig Marine Pte Ltd for a total value of USD 57 million.
CASS – PT Cardig Aero Services may pay out 2011 dividend as much as 10% of its net income or IDR 6
billion (IDR 2.8 per share). On a separate note, CASS targets 2012 revenue of IDR 100 billion, up 67%
yoy.
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