The JCI January 15, 2021
๐๐๐ง๐ฎ๐๐ซ๐ฒ ๐๐, ๐๐๐๐
* ๐๐ก๐ ๐๐๐ ๐ญ๐ซ๐๐๐ข๐ง๐ ๐ซ๐๐ง๐ ๐: ๐,๐๐๐๐ฉ๐ญ – ๐,๐๐๐๐ฉ๐ญ (๐๐๐ฌ๐ญ๐๐ซ๐๐๐ฒ ๐๐ฅ๐จ๐ฌ๐: ๐,๐๐๐๐ฉ๐ญ)
* ๐๐๐ฅ๐ฅ ๐๐ญ๐ซ๐๐๐ญ ๐๐ง๐๐๐ ๐ฌ๐ฅ๐ข๐ ๐ก๐ฅ๐ญ๐ฒ ๐ฅ๐จ๐ฐ๐๐ซ ๐๐ฒ ๐๐ซ๐จ๐ฎ๐ง๐ ๐.๐% ๐๐๐ข๐ง๐ ๐ฌ๐ฎ๐ฉ๐ฉ๐จ๐ซ๐ญ๐๐ ๐๐ฒ ๐ง๐๐ฐ๐ฌ ๐ญ๐ก๐๐ญ ๐ญ๐ก๐ ๐๐ง๐ข๐ญ๐๐ ๐๐ญ๐๐ญ๐๐ฌ (๐๐ฌ) ๐ฉ๐ซ๐๐ฌ๐ข๐๐๐ง๐ญ-๐๐ฅ๐๐๐ญ ๐๐จ๐ ๐๐ข๐๐๐ง ๐ข๐ฌ ๐ฉ๐ฅ๐๐ง๐ง๐๐ ๐ญ๐จ ๐๐ง๐ง๐จ๐ฎ๐ง๐๐ ๐ ๐ญ๐จ๐ญ๐๐ฅ ๐จ๐ ๐๐๐๐.๐๐ญ๐ซ ๐๐ข๐ ๐ฉ๐๐๐ค๐๐ ๐ ๐จ๐ง ๐๐ก๐ฎ๐ซ๐ฌ๐๐๐ฒ ๐ง๐๐ฑ๐ญ ๐ฐ๐๐๐ค
* ๐๐ก๐ ๐๐๐ ๐ข๐ฌ ๐๐ฑ๐ฉ๐๐๐ญ๐๐ ๐ญ๐จ ๐ญ๐ซ๐๐๐ ๐ฌ๐ข๐๐๐ฐ๐๐ฒ๐ฌ ๐๐ง๐ ๐๐ ๐ฉ๐ซ๐จ๐ฉ๐ฉ๐๐-๐ฎ๐ฉ ๐๐ฒ ๐ฌ๐ญ๐๐๐ฅ๐ ๐๐๐๐๐๐ ๐๐ง๐ ๐จ๐ข๐ฅ-๐๐ฅ๐จ๐ฌ๐
Morning,
The Jakarta Composite Index (JCI) today (1/15) is expected to be in the range of 6,350pt โ 6,500pt, ย and ย be supported by bargain hunters. Meanwhile, yesterday (1/14), the DJIA closed lower by 69 points or 0.2% to 30,992pt, while the S&P500 and the Nasdaq ended lower by 0.4% and 0.1%, respectively.
๐๐ง ๐ญ๐ก๐ ๐ง๐๐ฐ๐ฌ:ย ๐๐ง๐ข๐ฅ๐๐ฏ๐๐ซ ๐๐ง๐๐จ๐ง๐๐ฌ๐ข๐ (๐๐๐๐) ๐ฅ๐จ๐ฌ๐ ๐ญ๐ก๐ ๐๐๐ฌ๐ ๐๐ ๐๐ข๐ง๐ฌ๐ญ ๐ฅ๐๐ฐ๐ฌ๐ฎ๐ข๐ญ ๐๐ก๐๐ซ๐ ๐๐ ๐๐ฒ ๐ฅ๐จ๐๐๐ฅ ๐๐จ๐ง๐ฌ๐ฎ๐ฆ๐๐ซ ๐ ๐ซ๐จ๐ฎ๐ฉ ๐๐ซ๐๐ง๐ ๐๐ฎ๐
Unilever Indonesia (UNVR) is currently in the process of appeal on a IDR30bn fine set by the commercial court.ย The ย verdict is based on lawsuit submitted by local un-listed major consumer group Orang Tua (OT).ย The subject of the charges is on the use of the brand of โPepsodent Strongโ by UNVR ย which is claimed by the OT as a breach of the companyโs patented right.
UNVR corporate secretary on a media release expect that the company ย expects fairness on the whole case from the appeal process.ย Meanwhile, it was also added that case will not significantly affect UNVRโs operation and financial.
UNVR is a long-established consumer player that has been growing at the level of mid-to-high double digits previously, but seemed to struggle to maintain especially at least in the last 2 (two) years.ย The main reason is competition from new players with about similar scale and possibly with more flexible technology to adapt to the latest challenge of the vast and most-layered consumer market in Indonesia.
As at end of September 2020, total ย consolidated sales was recorded to grow at 0.3% YoY to IDR32.5tr, which made up of Home & Personal Care (HPC) that grew at 2% YOY, and Food & Refreshment (F&R) of -3.5% YOY.ย In the 3Q20 alone, total sales contracted 2.0% over the preceeding quarter (2Q20: -4.8%), while HPC grew at 5.9% QoQ (2Q20:-7.5%), and F&R of -10.9% QoQ (2Q20:1.5%).ย All the while profitability remain intact if not slighlty improved as compared to the historical decades ago.ย During 9M20, gross margins is at 52% (9M19:50.8%), operating margins at 21.9% (9M19: 23.3%), and net profit margins at 16.8% (9M19:17.0%) . We expect to revisit our 12-M target price, currently we have BUY rating on the counter, and to upload on Monday (18/1)
At the other end, yesterday ย the WTI price closed higher by 0.6% to USD53.6/barrel as compared ย to the previous closeย , mainly supported by news of theย hefty US COVID-19 relief package, which President-elect Joe Biden is due to unveil on Thursday. Meanwhile, the USDIDR ย closedย at IDR14,119 ย vs. IDR14,109 the previous one.
We advise the following recommendations, for both trading and longer-time investment purpose. ๐๐๐๐, ๐๐๐๐ (๐ฌ๐๐๐ญ๐จ๐ซ ๐จ๐ ๐๐จ๐ณ๐ช, ๐๐ฅ๐ฅ๐จ๐๐๐ญ๐ข๐จ๐ง ๐ฌ๐ฎ๐ ๐ ๐๐ฌ๐ญ๐ข๐จ๐ง ๐๐ฏ๐ฅ๐ฆ๐ณ๐ธ๐ฆ๐ช๐จ๐ฉ๐ต ), ๐๐๐๐, ๐๐๐๐, ๐๐๐๐, ๐๐๐๐ (๐ฌ๐๐๐ญ๐จ๐ซ ๐จ๐ ๐๐ฐ๐ข๐ญ ๐๐ช๐ฏ๐ช๐ฏ๐จ, ๐๐ฅ๐ฅ๐จ๐๐๐ญ๐ข๐จ๐ง ๐ฌ๐ฎ๐ ๐ ๐๐ฌ๐ญ๐ข๐จ๐ง ๐๐ข๐ณ๐ฌ๐ฆ๐ต-๐ธ๐ฆ๐ช๐จ๐ฉ๐ต), ๐๐๐๐, ๐๐๐๐, ๐๐๐๐, ๐๐๐๐ (๐ฌ๐๐๐ญ๐จ๐ซ ๐จ๐ ๐๐ฐ๐ฏ๐ด๐ถ๐ฎ๐ฆ๐ณ, ๐๐ฅ๐ฅ๐จ๐๐๐ญ๐ข๐จ๐ง ๐ฌ๐ฎ๐ ๐ ๐๐ฌ๐ญ๐ข๐จ๐ง ๐๐ท๐ฆ๐ณ๐ธ๐ฆ๐ช๐จ๐ฉ๐ต ), ๐๐ง๐ ๐๐๐๐, ๐๐๐๐, ๐๐๐๐,๐๐๐๐ (๐ฌ๐๐๐ญ๐จ๐ซ ๐จ๐ ๐๐ณ๐ข๐ฅ๐ฆ, ๐๐ฅ๐ฅ๐จ๐๐๐ญ๐ข๐จ๐ง ๐ฌ๐ฎ๐ ๐ ๐๐ฌ๐ญ๐ข๐จ๐ง ๐๐ท๐ฆ๐ณ๐ธ๐ฆ๐ช๐จ๐ฉ๐ต),๐๐ง๐ ๐๐๐๐ (๐ฌ๐๐๐ญ๐จ๐ซ ๐จ๐ ๐๐ข๐ด๐ช๐ค ๐๐ฏ๐ฅ๐ถ๐ด๐ต๐ณ๐บ, ๐๐ฅ๐ฅ๐จ๐๐๐ญ๐ข๐จ๐ง ๐ฌ๐ฎ๐ ๐ ๐๐ฌ๐ญ๐ข๐จ๐ง ๐๐ข๐ณ๐ฌ๐ฆ๐ต-๐ธ๐ฆ๐ช๐จ๐ฉ๐ต).
Cheers,