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).

Rabu, 29 Oktober 2014

Morning Dew - 30 October 2014

Overseas Boost

JCI rallied on Wednesday, gaining 1.45% to end at 5,074. Overseas sentiment played a part on the rally amidst streams of earnings report ahead of the month-end.

Soechi Lines Indonesia planned to sell 2.57b of new shares or 30% of its capital to raise Rp1.54t to Rp2.05t based on the price range of Rp600 and Rp800 per share. Half of the proceeds will be used for fleets expansion while 25% will be used for loan repayments and the other 25% will be used for working capital. RHB OSK Securities Indonesia and Mandiri Sekuritas have been appointed as underwriters. The company operates in marine transportation business and shipyard industry. 

EXCL recorded net losses of Rp901.2b in 9M14, contrasting the Rp917b of net profit in 9M13 as expenses soared.  Revenues were up from Rp15.81t to Rp17.54t while operating profits were down from Rp1.32t to Rp138.13b.

USDIDR inched higher to 12,163 on Wednesday from 12,158 seen on Tuesday.

Earnings Season

LPPF – 9M14 net profit Rp1.06t vs. Rp899.5b (9M13), revenues Rp6.04t vs. Rp5.11t (9M13).

MIRA – 9M14 revenues fell from Rp131.05b to Rp103.31b, reversing 9M13 net profit of Rp1.2b into net loss of Rp403.43 million in 9M14.

SMDR – 9M14 net profit US$12.8 million vs. US$25,164 (9M13), revenues however, dropped to US$383.32 million (9M14) from US$409.09 million (9M13).

MDLN – 9M14 revenues were up to Rp2.24t from Rp1.4t (9M13), but net profit fell from Rp721.69b to Rp537.85b as finance costs jumped to Rp294.33b from Rp106.94b.

Technically Speaking...

JCI bounced on Wednesday after the index briefly hit below 5,000 in prior sessions, 

Downside, the psychological support 5,000 will be the first support, followed by the 200-day EMA at around 4,900 will be the subsequent cushion for the JCI, afterwards support area lies at 4,835-4,840 (prior congestion area).

On the upside, 5,150 is the next resistance, followed by 5,200 and another one at 5,251, ahead of the all-time record high at 5,262. 

The MACD has turned higher again after it slipped on Tuesday.

While we expect the upside potential remains intact, we cannot rule out pullback after a strong gains on Wednesday. For now, the index is seen returning to its consolidation range between 4,900 and 5,100.

Day Ahead

More earnings reports are expected this week as the month is closing in. The fuel price hike was said to commence before new year begins but there are still no definite statements regarding how much and when the fuel price will be raised. For now, expect the JCI to continue to gyrate between 4,900 and 5,100.

Diposting oleh di 14.09
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