DISCLAIMER

This research report is prepared by PT MINNA PADI INVESTAMA Tbk for information purposes only and are not to be used or considered as an offer or the solicitation of an offer to sell or to buy or subscribe for securities or other financial instruments. The report has been prepared without regard to individual financial circumstance, need or objective of person to receive it. The securities discussed in this report may not be suitable for all investors. The appropriateness of any particular investment or strategy whether opined on or referred to in this report or otherwise will depend on an investor’s individual circumstance and objective and should be independently evaluated and confirmed by such investor, and, if appropriate, with his professional advisers independently before adoption or implementation (either as is or varied).

Senin, 16 Juni 2014

Morning Dew - 17 June 2014

Sitara & Magna IPOs

JCI slipped as it now approaches the support area at 4,865.

Sitara Propertindo offers its shares between Rp105-115 in its IPO. The company is expected to raise between Rp420billion to Rp460billion from the offering which will be used to support several of its subsidiaries (63.51%). The remaining proceeds will be used to pay the company’s debts (36.49%).

Sitara’s offers include 2 billion shares of series 1 warrants with 2:1 ratio which means every 2 new shares will given 1 warrant.

Sitara has appointed Sinarmas Sekuritas as the underwriter of the IPO process. Book building will start from June 16th till June 18th 2014, the offering period will start from July 2nd to July 4th 2014

USDIDR bounced back to 11,814 on Monday after hitting 11,781 on Friday.

Magna Finance IPO

Magna Finance set its offering price for the initial public offering  between Rp102-115 per share.

About 700 million shares or 70% of its equity are being offered to public, and this could yield between Rp71.4billion to Rp80.5billion from the proceeds. Along with the offering are 100 million series 1 warrants as sweetener.

Jasa Utama Capital has been appointed as the sole underwriter of the IPO.
All proceeds will be used as additional working capital.

Technically Speaking...

JCI continues to move back and forth within its consolidation range between 4,865 and 5,091.

Resistance is now seen at 5k and subsequently at 5,091. Beyond the latter the index will aim at 5,251 – the all-time high seen last year.

Support is seen at 4,865 in the short-term, roughly around the same level as the 50-day EMA curve. Subsequent support lies at 4,800. 

MACD heads lower again after several failed attempts to return to above the zero line. RSI has also turned lower, heading towards the oversold area. 

No additional recommendation for now, and at the moment a total of seven recommendations are active and all of them are holding on.

Day Ahead

JCI is seen to continue consolidating between 4,865 and 5,091 for now as the market continues to wait for the upcoming presidential election on July 9th 2014. FOMC meeting will be the biggest event for this week. As usual, the FOMC is set to take away another US$10bn off its stimulus while readying the market for its policy change in 2015.

Diposting oleh di 15.04
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