Perusahaan Gas Negara (PGAS IJ)
BUY / TP: IDR:1,410 (+20.0%)
Analyst: Chandra Pasaribu
Hammered by non-operational items
• Below expectation from non-operational
• Recovery in distribution volume
• Downgraded target price at IDR1,410 (US$0.10).
• Re-iterate BUY call despite lower new TP
Trade Balance
Analyst: Chandra Pasaribu
Good signal on recovery
• Strong recovery signs from imports
• Manufacturing exports are also growing
• Surplus reduced to US$1.6bn in Mar
• Better momentum growth
BPD Jawa Timur (BJTM IJ)
Not Rated
Analyst: Yap Swie Cu
Resilient during challenging times
• Stable earnings
• Tighter margin amid change in asset and funding mix
• Credit cost is still on the high side
• Outlook for 2021F
• Valuation
INDUSTRY
• Central Bank asks banks to lower MSME lending rates
• 5G frequency auction in progress
Penawaran Umum Perdana Saham/Initial Public Offering (IPO) PT Harapan Duta Pertiwi Tbk
View moreCORPORATE
• WOOD to target revenue growth of 25% in FY2021
• Strong QoQ recovery, but MAPI still posted net loss in FY2020
• JPFA has prepared a capex of IDR1.9tn
• ASRI posts IDR1.01tn net loss in 2020
