Ramayana Lestari (RALS IJ)
Analyst: Vincent Yunnaraga
HOLD-UPF / TP: IDR:1,550 (-6.3%)
May-19: Emphasizing on Lebaran Festive
• May-19 sales figures: Seasonality effect takes its toll
• ...followed by stellar monthly sales figure
• Entering conclusive month
• Maintain HOLD-UPF call with unchanged TP
Mega Manunggal Property (MMLP IJ)
Analyst: Chelene Indriani
Not rated
In Expansion Mode
• Stability in recurring income
• Aggressive NLA expansion with strong pipelines projects
• Strategic partnership with GIC to boost growth
• Valuation
Indonesia Strategy
Analyst: Chandra Pasaribu
Pressure from festive seasons
• Inflation of 0.68% in May19
• YoY inflation at 3.32%
• Low inflation providing room for interest decline
• Global condition remains fluid
INDUSTRY
• Retail association to see growth of 12% in FY19
• Ministry of SOE indicated interest to buy INCO divestment
• New regulation for online ride sharing
CORPORATE
• United Tractors (UNTR IJ) to invest in coal barging service
• BCA (BBCA IJ) may merge Bank Royal with BCA Syariah
• Aneka Gas Industri (AGII IJ) to invest IDR300bn
• Modernland Realty (MDLN IJ) to develop a mixed use project in Cilejit
• Fast Food Indonesia (FAST IJ) to distribute dividend of IDR32 per share
• Hotel Mandarine Regency (HOME IJ) to raise IDR1.7tn through rights issue
INDUSTRY
• Government to form Infrastructure holding
• Government to start trial B30
• Total loans grew 11.55% YoY at end April 2019
• Astra toll road enjoys homecoming
• Exploring new toll road payment method
CORPORATE
• PTPP (PTPP IJ) aims to divest three projects worth IDR450bn
INDUSTRY
• Government to open domestic airspace
• Data traffic to grow double digit during festive season
• LinkAja to catch up with competitors
CORPORATE
• PGN (PGAS IJ) to explore to issue bonds for refinancing
• Krakatau Steel (KRAS IJ) expects to complete restructuring process at end of June 2019
• Mitra Keluarga Karyasehat (MIKA IJ) opens Mitra Keluarga Bintaro in Tangerang City
