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Danareksa Equity Snapshot - 24 Mei 2018
May 24, 2018 09:37

FROM EQUITY RESEARCH

Adhi Karya: A new train project is coming to town (ADHI IJ. IDR 1,925. BUY. TP IDR 2,900)

Jakarta’s municipal government plans to invite investors to participate in the development of the Greater Jakarta LRT stage 2. ADHI as a contractor in stage 1 will have the opportunity to participate as the contractor or investor in the project. For stage 1 of the project, ADHI expects the second tranche of payment from Kereta Api Indonesia (KAI) amounting to around IDR1.8tn to be made in the near future. We maintain our BUY call on ADHI with an unchanged TP of IDR2,900.

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MARKET NEWS

Macroeconomy

  • BI: Cash needed for lebaran may reach IDR188.2tn
  • Tax Incentives for venture capital announced

Sector

  • The Ministry of Energy and Mineral Resources to issue regulation to increase biodiesel mix to 25%

Corporate

  • CPIN: Earmarks Capex IDR2.6tn
  • Bumi Serpong Damai (BSDE) to participate in REIT
  • Kino Indonesia: Targets robust FY18 bottom line of 35% yoy
  • MAPI: Plans IPO for MAP Active
  • MNCN: RCTI improves its audience share
  • Bukit Asam: To receive USD1.3bn of loans to develop Sumsel 8 power plant
  • Unilever: UNVR to pay dividends of IDR915/share

 

TECHNICAL ANALYSIS CORNER

Market Maker

  • IHSG. 5,792. NEUTRAL. TP 5,800.

Stock Shoot

  • PTPP. IDR2,600. BUY. TP IDR2,620.

 

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