Market Pulse| Indonesia

Sekuritas

03 Jan 2022
Trading Ideas
Research Team ● (62) 21-2970 9431 ● research-mailbox@ocbcsekuritas.com

Summary of the day

Ticker Recommendation Support Resistance

ACES Spec buy 1,300 1,450

MDKA Trading buy 3,900 4,100

INDY Spec buy 1,400 1,550

• Ace Hardware Indonesia Tbk (ACES)

ACES opens 4 new stores in December 2021.So that the total opening of new ACE stores in 2021 is 13 stores with a
total of 216 stores currently throughout Indonesia.Yoelius Saputra, General Manager Marketing of PT ACE
Hardware Indonesia, Tbk said, "With the opening of 4 stores at the end of 2021, it shows ACE's commitment to
providing the best service and getting closer to customers, so that the needs for household and lifestyle equipment
can be fulfilled and easier to get.”Source: IDNFinancial

• Merdeka Copper Gold Tbk (MDKA)

MDKA plans to take over 50.1% of PT Andalan Bersama Investama (ABI) for IDR 1.14 trillion, equal to USD 80.2
million.ABI is an investment company related to MDKA, as confirmed by Adi Adriansyah Sjoekri, Corporate Secretary
of MDKA, in the information disclosure in Indonesia Stock Exchange (IDX). The affiliation is formed through the
same shareholder of ABI and MDKA. After this takeover, MDKA would gain 50.1% of ABI’s shares. The acquisition
would be finalised after ABI issued new shares. Source: IDNFinancial

• Indika Energy Tbk (INDY)

INDY released its Consolidated Financial Statements for the nine month period ended 30 September 2021
(9M 2021). The company recorded a core profit of US$ 83.9 million, a significant increase compared to a core loss
of US$ 5.5 million in the same period the previous year. However, the loss from discontinued operations of US$
98.1 million related to the divestment transaction of Mitrabahtera Segara Sejati (MBSS) on a 100% basis caused the
Company to record a loss attributable to owners of the parent entity of US$ 6.0 million, compared to a loss of US$
52.5 million in the 9M 2020 period. During 9M 2021, Indika Energy posted revenues of US$ 2,155.6 million, an
increase of 43.3% from US$ 1,504.1 million in the same period the previous year. The increase in revenue mainly
came from Kideco Jaya Agung (Kideco) which recorded revenue of US$1,486.1 million, an increase of 61.8% due to
higher average selling price (+39.7% YoY) and higher sales volume (+15.9% YoY). Source: IDNFinancial
ANALYST DECLARATION:

For analysts’ shareholding disclosure on individual companies, please refer to the latest reports of the
companies.

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Isfhan Helmy
Head of Research

Published by PT OCBC Sekuritas Indonesia