Bank Negara Indonesia (BBNI IJ)
BUY / TP: IDR:6,300 (+36.9%)
Analyst: Yap Swie Cu
May 2020 earnings: struggling for profits
• Monthly earnings continue to shrink
• No surprise over weak May earnings
• Re-iterate BUY on its undemanding 2021F valuation
Telkom Indonesia (TLKM IJ)
BUY / TP: IDR4,070 (+33.4%)
Analyst: Chandra Pasaribu
Upshot falls on the weaker side
• Wins in digital business wins negated by decline in legacy and corporate
• Tremendous data demand
• Enterprise segment remains challenging
• Re-iterate BUY recommendation
Erajaya Swasembada (ERAA IJ)
BUY / TP: IDR:1,380 (+10.8%)
Analyst: Chandra Pasaribu
Cell phone retailer eyes sales recovery as shops and malls re-open
• Closed stores are ready to resume operations
• Online business gains strong traction despite limited portion
• Profitability recovery might be lagging
• Re-iterate BUY recommendation
INDUSTRY
• Toll road projects update
CORPORATE
• Modernland Realty (MDLN IJ) to restructure debts
• Sari Roti (ROTI IJ) to add two new factories
• Siloam Hospitals (SILO IJ) to build 2-3 new hospitals
INDUSTRY
• Consumer confidence index to rebound
• Pressure on coal market
CORPORATE
• Sumber Alfaria Trijaya expects weaker 2Q20
• Ace Hardware to opened 10th store for FY2020
INDUSTRY
• President Jokowi considers returning banks supervision task to the central bank
• Government to upsize retail bonds
• Government plans to merge state banks’ syariah units
• Adhi Commuter Properti to boost its operational
CORPORATE
• XL Axiata (EXCL IJ) to commit service in Balikpapan-Samarinda toll road
• Aneka Gas (AGII IJ) sees lower net profit of -34.4% in 1Q20
