DAILY UPDATE November 22, 2021
Transcript of DAILY UPDATE November 22, 2021
DAILY UPDATE November 22, 2021
MACROECONOMIC NEWS
US Economy – The US House of Representatives passed
President Biden’s USD 1.7 trillion social safety net bill legislation
that would make the child tax credit fully refundable on a
permanent basis, a change that would be of particular
significance for low-income families. The Build Back Better Act,
which Democrats passed by a vote of 220-213, would also
preserve some temporary enhancements to the credit for a year,
through 2022.
Euro-Area Economy – ECB President Lagarde reinforced her view
that euro zone inflation will fade, and said the ECB should not
look to tighten monetary policy as it could hamper the bloc’s
recovery. While on the data front, U.K. retail sales increased 0.8%
month-on-month in October, slightly exceeding the 0.5%
expected.
Indonesia Economy – Indonesia's third-quarter current account
racked up a surplus of USD 4.5 billion or 1.5% of GDP, the largest
in 12 years, as merchandise exports got a boost from high
commodity prices, central bank data has showed. Indonesia had
a USD 2 billion deficit on the current account in the second
quarter, or 0.7% of GDP. The third-quarter current account
surplus helped Indonesia post a surplus of USD 10.7 billion on the
balance of payments (BoP), which compared with a deficit of USD
0.4 billion in the previous three months.
CORPORATE NEWS
CSAP – PT Catur Sentosa Adiprana plans to continue their
expansion in 2022 and is targeting to have 50 outlets by 2023.
BUMI – PT Bumi Resources has had its long term corporate family
rating downgraded by Moody’s from Caa1 to Caa3 with a
negative outlook.
BNBA – PT Takjub Finansial Teknologi has acquired 554.4 million
shares of PT Bank Bumi Arta at IDR 1,345 per share (or eqv. To
24% of issued and paid-up capital). The acquisition value reached
IDR 745.66 billion.
SSMS – PT Sawit Sumbermas Sarana has reported IDR 3.68 trillion
revenue and IDR 1.02 trillion net income for 9M 2021, rose by
34.68% yoy and 287% yoy, respectively.
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Commodities Last Price Chg %Chg
Oil NYMEX 75.38 -3.5 -4.4
Oil Brent 78.28 -2.96 -3.6
Coal Newcastle 152.5
Nickel 20044 405 2.1
Tin 38429 -24 -0.1
Gold 1845.3 -14.2 -0.8
CPO Rott 1215 7.5 0.6
CPO Malay 4993 -5 -0.1
Indo Gov. Bond Yields Last Yield Chg %Chg
1 year 3.285 0.13 4.12
3 year 4.105 -0.01 -0.24
5 year 4.892 0.00 -0.06
10 year 6.021 -0.02 -0.25
15 year 6.233 0.00 -0.06
30 year 6.794 -0.01 -0.12
Currency
Closing Last Trade
US$ - IDR 14232 14232
US$ - Yen 113.99 114.09
Euro - US$ 1.129 1.13
US$ - SG$ 1.3613 1.3625
Equity Markets
Closing % Change
Dow Jones 35602 -0.75
NASDAQ 16057 0.40
S&P 500 4698 -0.14
MSCI excl. Jap 818 -0.25
Nikkei 29602 -0.48
Shanghai Comp 3560 1.13
Hang Seng 25050 -1.07
STI 3232 -0.14
JCI 6720 1.26
Indo ETF (IDX) 20 0.69
Indo ETF (EIDO) 24 0.72
CORPORATE NEWS – cont’d
BBYB – PT Bank Neo Commerce reported 3Q 2021 financial results:
BBYB (IDR Bn) 9M 2020 9M 2021 YoY Q3 2020 Q2 2021 Q3 2021 YoY QoQ
Net Interest Income 126 242 92.3% 30 73 106 256.0% 44.4% Non-Interest Income 46 60 30.5% 17 14 41 141.7% 195.8% Other Operating Expense 166 566 240.6% 61 170 279 355.9% 64.6% Operating Profit 5 -265 -14 -82 -132 PPOP 23 -235 -8 -120 -115 Net Income 4 -265 -15 -83 -132 EPS (IDR) (Diluted) 1 -45 -3 -14 -22
CAR 37.1% 20.8% -16.3% 37.1% 24.7% 20.8% -16.3% -3.9%
NIM 4.2% 5.8% 1.6% 4.2% 5.1% 5.8% 1.6% 0.7%
ROE 0.6% -33.3% -33.9% 0.6% -25.1% -33.3% -33.9% -8.2%
ROA 0.2% -5.4% -5.6% 0.2% -4.4% -5.4% -5.6% -1.0%
NPL (Gross) 4.7% 4.4% -0.4% 4.7% 4.6% 4.4% -0.4% -0.3%
NPL (Net) 2.7% 3.3% 0.6% 2.7% 3.4% 3.3% 0.6% -0.1%
LDR 96.7% 57.6% -39.2% 96.7% 74.5% 57.6% -39.2% -16.9%
MNCN – PT Media Nusantara Citra reported 3Q 2021 financial results:
MNCN (IDR Bn) 9M 2020 9M 2021 YoY Q3 2020 Q2 2021 Q3 2021 YoY QoQ
Revenue 5,962 7,073 18.6% 1,995 2,723 2,210 10.7% -18.8%
Gross Profit 3,651 4,044 10.8% 1,172 1,522 1,197 2.1% -21.4%
Operating Profit 2,213 2,521 13.9% 679 1,003 713 5.0% -29.0%
Pretax Earnings 1,800 2,275 26.4% 552 1,076 676 22.4% -37.2%
Net Income 1,374 1,683 22.5% 417 793 490 17.4% -38.2%
EPS (IDR) 103 127 23.3% 31 58 37 18.5% -36.1%
Gross Profit Margin 61.2% 57.2% -4.1% 58.7% 55.9% 54.2% -4.6% -1.8%
Operating Profit Margin 37.1% 35.6% -1.5% 34.0% 36.8% 32.2% -1.8% -4.6%
Net Profit Margin 23.0% 23.8% 0.8% 20.9% 29.1% 22.2% 1.3% -7.0%
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