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BRI Danareksa Equity Snapshot - 23 Februari 2021
February 23, 2021 09:15

Media: Analog Switch Off by 2022.
With the derivative regulation of Omnibus law via PP no. 46  tahun 2021 encompassing the ASO by 2022. Government will help procure the set top box (STB) to the poor. State income or state budget might be used to finance the STB along with other sources of fund per the regulation. Multiplexer is to be appointed by the minister judging by among others the preparedness of ASO. Source: Investor Daily
Harum Energy: Acquired a 24.5% stake in a nickel smelter company for USD68.6mn
Harum Energy (HRUM) through its subsidiary, Tanito Harum Nickel, acquired a 24.5% stake in Infei Metal Industry (IMI), a nickel smelter company, for USD68.6mn. The acquisition of the nickel smelter company will allow Harum Energy to extend its downstream nickel mining business to the processing stage to increase value added. (Source: Investor Daily, Company)
Vaccines update: Progress on vaccines distribution
The Spokesperson of the Ministry of Health stated that the govt planned to distribute 7 million doses of the Covid-19 vaccine this month. In this regard, 5 million doses of the vaccine will be distributed in seven provinces in Java and Bali where there are the highest number of Covid-19 cases. In addition, around 7.5 million doses of Bio Farma’s vaccine, which is sourced from the Sinovac vaccine, are expected to be available with 11.4 million doses by March. So far, Bio Farma has distributed 2.6 million doses, and this number will be increased by 2.3 million doses today. (Kontan)
Comment: We see that the vaccine distribution is key driver to further accelerate the daily vaccination progress. The daily vaccinations in Indonesia is still low recently as the vaccines will be mostly distributed after 1Q21. We still believe that the self-pay vaccination starting in March to cover nearly 20 million of workers will drive the daily vaccination number. The faster speed of daily vaccination, we believe, will help to mute the recent-high positivity rate as the mobility increases. (Muhammad Naufal)

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