New MNCTV Series Maintains MNC’s Domination
We maintain our OVERWEIGHT call on the sector, as we expect the media players to report better 2Q16 numbers. This is given that consumption is likely to pick up on a seasonal high in conjunction with Lebaran. Based on Nielsen’s April prime time audience share data, Trans Group reported a 10.9% MoM improvement while Surya.
Read More...Sido Muncul, Continued Rebound In Herbal Medicine Products
Based on our recent ground checks visiting several Sumber Alfaria Trijaya’s (Alfamart) (AMRT IJ, Neutral, TP: IDR570) minimarkets, we have found that Tolak Linu is gaining more acceptance. The stores we had visited confirmed that Tolak Linu’s sales are increasing. Its leading herbal cold remedy, Tolak Angin, continued to rebound with Jan-Mar 2016’s sales volume.
Read More...Sarana Meditama Metropolitan On Track With Its Solid Expansion Plan
With the recent initial soft-launching of the third OMNI Hospital, located in Cikarang area, it is on track to double its portfolio to four hospitals by mid-2017, from just two in 2015. The existing two OMNI hospitals in Pulomas and Alam Sutera are seeing the combined bed occupancy rate increase steadily to 69.1% in 1Q16..
Read More...Ramayana Lestari Inconsistent Sales Strategy
The supermarket division contributed c.31% of Ramayana Lestari’s (Ramayana) total sales in 1Q16. Its gross and operating margins improved 340bps and 180bps QoQ respectively in 1Q16 as Ramayana terminated the trader wholesale programmes in Dec 2015. However, Ramayana plans to restart the programmes to prop up sales despite the fact that the programmes are usually.
Read More...Kalbe Farma Rebounding With The IDR Appreciation vs USD
As it imports 95% of its raw material in USD, Kalbe is the primary beneficiary of the strengthening IDR vs USD. This is evidenced by the QoQ margin expansion in 1Q16. Consumer health and nutritionals are its key growth drivers as the two divisions contribute c.45% of its total sales. Its liquid milk manufacturing plant.
Read More...Mitra Keluarga Karyasehat, Off To An Excellent Start
Encouraging track record with new hospitals Mitra Keluarga Karyasehat’s (Mitra Keluarga) Kalideres hospital in the West Jakarta region, opened in Aug 2015, achieved breakeven EBITDA just four months after starting operations. March marks the first month it is net income-positive. It aims to start building its next hospital in Bintaro’s Section 3 Greater Jakarta area.
Read More...Indonesia Banks Rush to Raise Funds From Bond Market
Indonesia banking sectors seek to broaden its long-term funding base through the issuance of debt securities those are believed to be cheaper than funding from customer deposits. Total fundraising from bonds market by banks sector year to date has reached IDR5.7trn. That number will increase as some listed banks will get the issuance out soon,.
Read More...Angkasa Pura II was Assigned AAA Rating by Fitch & Pefindo
Indonesia airport operator, Angkasa Pura II has been assigned a National Long-Term rating of AAA(idn) with a stable outlook by Fitch Ratings Indonesia and idAAA/Stable by Pefindo. The similar rating also assigned for its proposed IDR2trn unsecured bond. It also benefits from a higher approved tariff for 2016, which will drive aeronautical revenue growth, and.
Read More...Matahari Department, the Best Store Chain Keeps Delivering
What keeps Matahari’s solid performance distinct from that of its competitors is the strength of its private brands, such as the award-winning Nevada. As such, we have noticed larger sales contributions from its direct purchase items vis-à-vis consignment items. We also have witnessed that its focus on utilities expense reduction resulted in operating 1Q16 margins.
Read More...Pefindo Lowered Another Indonesia Stated Owned Construction Company
After downgrading Waskita Karya (Persero) Tbk (WSKT:IJ) rating to ‘idA-‘, Pemeringkat Efek Indonesia (Pefindo) now has downgraded another state owned construction company. Rating of Adhi Karya (Persero) Tbk (ADHI:IJ) and its outstanding shelf registered bond as well as shelf registered sukuk mudharabah was downgraded to ‘idA-‘ from ‘idA’ by Pefindo. Though the outlook for Adhi.
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