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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).

Kamis, 13 November 2014

Morning Dew - 14 November 2014

Miners’ Blues

JCI slipped but stayed above 5k as the index took a pause in its aims at recouping the lost ground near 5,100, the upper-end of its broad consolidation range between 4,900 and 5,100.

Bank Indonesia (BI)’s Board of Governors’ meeting on Thursday has decided to maintain rates unchanged. The BI rate stays at 7.5%, the lending facility rate at 7.5% and the deposit rate is also stays at 5.75%. According to BI, the rates were kept as current account deficit has narrowed to 3.07% of GDP in 3Q14.

Coal miners’ blues is set to continue as the Ministry of Energy and Mineral Resources set the reference coal price for November to US$65.70 per ton vs. last month’s US$67.26 per ton. Poor global demand has not been balanced by production control, leading to gloomy global coal price outlook. Even for the coming month, the price outlook is seen no better than November.

USDIDR slipped a bit on Thursday, ended the day at 12,191 from 12,205 seen on Wednesday.

UNVR, HERO, BABP

UNVR to distribute its interim dividend for FY2014 amounting to Rp2.56t or Rp336 per share. The dividend payment is scheduled on December 12th 2014.

HERO aims at 13% growth in revenues in 2015 to Rp13.56tn. In 2014 the company is targeting at Rp12tn in revenues. HERO is also planning to open new outlets which will cost the company Rp10bn to Rp25bn for each outlet.

BABP is planning to conduct a rights issue in 2015 worth Rp500bn. According to the bank, it expects business to grow 30% in 2015. The rights issue is expected to raise CAR to 18% as the bank will focus on consumer, corporate and SME sectors. Net profit is seen to be around Rp30-40bn.

Technically Speaking...

JCI was steady on Thursday as it barely changed from its previous day’s close at 5,048.

However, should the index fails to follow through the gains with a clean break of 5,100 resistance level, it will risk returning to the bottom end of the current consolidation range between 4,900 and 5,100.

Beyond 5,100, the next interim resistance will be 5,150, followed by  5,200 and another one at 5,251, ahead of the all-time record high at 5,262. 

The MACD ticked up but still slightly above zero after recent decline, RSI was slightly higher after recent setback.

For Friday, expect the trading range between 4,900 and 5,100 to continue to be the JCI’s playground.

Day Ahead

We still expect the JCI to remain confined within the recent range of 4,900-5.100. Fuel price hike is considered as a potential drag for the index as it will be seen as short-term negative despite its longer-run benefits. Thursday’s pause showed that the investors preferred to take a wait-and-see stance over the fuel price hike issue. Technical outlook improved a bit, but remains cloudy.

Diposting oleh di 13.07
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