Indonesia stocks to watch Wednesday: Yudha Bhakti Bank, Buana Finance, Mitrabara Adiperdana

Indonesian rupiah notesIndonesian rupiah notes

JAKARTA (TheInsiderStories) – Good Morning! The Jakarta Composite Index closed the trade on Tuesday, 19 March 2019 with a decline of 0.45 percent to 6,480.28.

In the midst of this weakness, there were a number of corporate actions and issuers that contribute to this weakness.

Top Losers

PT Inti Komoditi Korpora Tbk (IDX: INCF) posted the deepest price decline in trading, tumbling 24.87 percent to Rp290 a share on Tuesday. Among other steep decliners, PT Armada Berjaya Trans Tbk (IDX:JAYA) closed down 24.63 percent at Rp202 a share.

Top Gainers

PT Multipolar Technology Tbk (IDX: MLPT) shares posted the sharpest price increase on Tuesday, gaining 24.67 percent to Rp1,415 a share. In addition, PT Anabatic Technology Tbk (IDX: ATIC) closed up 20 percent at Rp990 a share.

For today the stocks to be watch are:

PT Yudha Bhakti Bank (IDX: BBYB)

The company planned to issued 469,591,963 new shares in a private placement. The price of implementing this corporate action is Rp338 per share, or Rp158.72 billion in total. PT Akulaku Silvrr Indonesia, an e-commerce company and financial technology, from China absorbed the private placement.

PT Buana Finance Tbk (IDX: BBLD)

The finance company obtained a credit facility of Rp1.25 trillion from 10 banks from the beginning of January to the beginning of March 2019 to support the company’s expansion.

PT Mitrabara Adiperdana Tbk (IDX: MBAP)

The firm’s net profit recorded US$50.31 million in 2018, or down 14.19 percent on-year. The net income came from revenue of US$258.13 million, down 0.17 percent from US$258.58 million in 2017. In contrast, the company’s cost of revenue rose 9.63 percent, or reached $157.19 million in 2018.

PT Mitra Adi Perkasa Tbk (IDX:MAPI)

The retailer plans to expand the cooperation of a number of brands with financial technology services Go-Pay to increase sales volume. Previously, company had collaborated with Go-Pay for several food and beverage brands.

PT Wijaya Karya Beton Tbk (WTON)

A unit of PT Wijaya Karya Tbk (IDX: WIKA) is optimistic that it can record new contracts of Rp9 trillion, or a 17 percent increase, in 2019. This is supported by several expansion plans of state-owned companies such as PT Pelabuhan Indonesia I, II, II, and IV.

PT MNC Investama Tbk (IDX:BHIT)

Hary Tanoesodibjo’s arm plans to increase capital under a rights issue. In this corporate action, 17.57 billion shares will be released by BHIT. The proceeds of the rights issue will be used to convert debt to Caravaggio Holding and New Ascend Limited for US$115 million.

PT Matahari Putra Prima Tbk (IDX: MPPA)

The company under Lippo Group brushed aside reports that some of its shares will be acquired by Para Group, a conglomerate owned by Chairul Tanjung. Previously, news circulated about the acquisition plan to bring the Transmart brand into the capital market. Danny Konjogian, director of public relations and communications at MPPA, denied the reports. The management did not know the source of the rumor and denied any report saying there was a plan to sell the company’s shares.

William Surya Wijaya from PT Indosurya Sekuritas said other stocks to watch for today were in the banking sector, such as PT Bank Negara Indonesia Tbk (IDX: BBNI), PT Bank Mandiri Tbk (IDX: BMRI), PT Bank Central Asia Tbk (IDX: BBCA), PT BPD Jatim Tbk (IDX: BJTM), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), and PT Bank Tabungan Negara (IDX: BBTN).

He also pointed to property stocks, such as PT Summarecon Agung Tbk (IDX: SMRA), PT Pakuwon Jati Tbk (IDX: PWON), PT Alam Sutera Realty Tbk ( IDX: ASRI), and PT Ciputra Development Tbk (IDX: CTRA).

Happy Trading!

Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia

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