DAILY UPDATE April 24, 2018 MACROECONOMIC NEWS US Economy - The Chicago Fed National Activity Index rose just +0.10 in March after a +0.98 gain in February, missing the +0.29 median forecast. Moderated growth in production- and employment-related indicators weighed down the index. The flash IHS Markit U.S. manufacturing PMI climbed to 56.5 this month from 55.5 and touched a three-and-a-half-year high. The survey showed the cost of raw or partly finished materials increased at the fastest pace in almost five years. Firms said the recently announced White House tariffs on steel as well as a large basket of Chinese goods were partly to blame. The Services PMI edged up to 54.4 from 54. US Housing - Existing-home sales increased 1.1% in March from February to a seasonally annual rate of 5.6 million, the National Association of Realtors said. CORPORATE NEWS ERAA – PT Erajaya Swasembada targets IDR 380 billion net income in 2018, up by 11.9% yoy. ERAA plans to open 250 new outlets in 2018. ADRO – PT Adaro Energy decides to distribute IDR 3.47 trillion (or USD 250 million) FY17 cash dividend with dividend payout ratio of 50% at USD 7.82 per share. ADRO allocates USD 750 million – USD 900 million capex budget in 2018, where USD 300 million will be used to procure heavy equipment and USD 200 million – USD 300 million will be used for its subsidiary Adaro MetCoal Companies (AMC). PRDA – PT Prodia Widyahusada allocates IDR 300 billion – IDR 350 billion capex budget in 2018. The proceeds will be used to expand network, purchase equipment and IT development. CINT – PT Chitose Internasional estasblished a JV with a Japanese company, C-Eng Co Ltd in November 2017. The JV will start its operation in May 2018 and performance will be optimized in 3Q18. CINT ownership in JV is 70% while the total investment amounting to IDR 18 billion. Revenue from the JV is estimated to reach IDR 8 billion. DMAS – PT Puradelta Lestari decided to distribute IDR 626.6 billion cash divided or IDR 13 per share. The dividend payout ratio is 95% of FY17’s net income. On a separate note, DMAS will develop additional rental factoring units in Deltamas. 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 Commodities Last Price Chg %Chg Oil NYMEX 68.77 0.60 0.88 Oil Brent 74.81 0.93 1.26 Coal Newcastle 93.35 -0.10 -0.11 Nickel 14265 -565 -3.8 Tin 21050 -675 -3.1 Gold 1323.5 -9.34 -0.70 CPO Rott 665 CPO Malay 2394 3.0 0.13 Indo Gov. Bond Yields Last Yield Chg %Chg 1 year 5.42 0.13 2.50 3 year 6.27 -0.02 -0.24 5 year 6.32 -0.02 -0.25 10 year 6.90 0.00 0.01 15 year 7.16 -0.02 -0.22 30 year 7.39 -0.00 -0.04 Currency Closing Last Trade US$ - IDR 13975 13906 US$ - Yen 108.71 108.87 Euro - US$ 1.2209 1.219 US$ - SG$ 1.3254 1.3275 Equity Markets Closing % Change Dow Jones 24449 -0.1 NASDAQ 7129 -0.2 S&P 500 2670 0.0 MSCI excl. Jap 713 -0.8 Nikkei 22177 0.4 Shanghai Comp 3068 -0.1 Hang Seng 30254 -0.5 STI 3579 -0.0 JCI 6308 -0.5 Indo ETF (IDX) 23.69 -0.2 Indo ETF (EIDO) 26.98 -0.3
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DAILY UPDATE April 24, 2018
MACROECONOMIC NEWS
US Economy - The Chicago Fed National Activity Index rose just
+0.10 in March after a +0.98 gain in February, missing the +0.29
median forecast. Moderated growth in production- and
employment-related indicators weighed down the index. The
flash IHS Markit U.S. manufacturing PMI climbed to 56.5 this
month from 55.5 and touched a three-and-a-half-year high. The
survey showed the cost of raw or partly finished materials
increased at the fastest pace in almost five years. Firms said the
recently announced White House tariffs on steel as well as a
large basket of Chinese goods were partly to blame. The
Services PMI edged up to 54.4 from 54.
US Housing - Existing-home sales increased 1.1% in March from
February to a seasonally annual rate of 5.6 million, the National
Association of Realtors said.
CORPORATE NEWS
ERAA – PT Erajaya Swasembada targets IDR 380 billion net
income in 2018, up by 11.9% yoy. ERAA plans to open 250 new
outlets in 2018.
ADRO – PT Adaro Energy decides to distribute IDR 3.47 trillion
(or USD 250 million) FY17 cash dividend with dividend payout
ratio of 50% at USD 7.82 per share. ADRO allocates USD 750
million – USD 900 million capex budget in 2018, where USD 300
million will be used to procure heavy equipment and USD 200
million – USD 300 million will be used for its subsidiary Adaro
Net Profit Margin 17.6% 8.0% -9.6% 12.5% 8.0% -4.6%
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