Market Pulse| Indonesia

Sekuritas

10 Sept 2021
Trading Ideas
Research Team ● (62) 21-2970 9431 ● research-mailbox@ocbcsekuritas.com

Summary of the day

Ticker Recommendation Support Resistance

RIGS Spec buy 310 340
IPTV Spec buy 250 276
ACES Spec buy 1,300 1,450

• PT Rig Tenders Indonesia (RIGS)

PT Rig Tenders Indonesia Tbk (RIGS) sold off its accommodation work barge for IDR 1.08 million to Keyfield OSV
Limited, Norwegia. The said asset discharge is intended to reduce depreciation costs over its assets.In the
information disclosure, quoted Friday (10/9), Doddy Irawan, Director of Rig Tenders Indonesia, claims that the
payment had been fully disbursed by the buyer during the transaction on Thursday (9/9). “The transferred asset
was Duta 7. It brings a positive impact as it cut back maintenance and recurring costs of the company,” he
adds.According to Irawan, the company would now focus more on looking after its barges, which have both short-
term and long-term work contracts, thus increasing profitability.As of June 2020, RIGS would operate 36 tugboats,
7 self-discharging barges, 21 barges, and one accommodation work barge. Source:IDNfinancial

• PT MNC Vision Networks (IPTV)

IPTV spends USD 40 million in Migo Indonesia (MI), a global content distribution platform. It is intended to extend
the reach of its service across Indonesia.Ade Tjendra, President Director of MNC Vision Networks, confirms that this
investment indicates the company’s commitment to reaching over 100 million people who have no access to OTT
(over the top) services. “Migo Indonesia aims to sign 20 million monthly paid users of Vision+, which belongs to
IPTV, to offline customers,” he further explains in a press release, quoted Friday (10/9).According to Tjendra, IPTV
is the biggest integrated media group in Southeast Asia that operates OTT and FTA (free to air) TV networks. Its
target of 20 million users is envisioned to be realised by 2025, offering a monthly payment of IDR 15,000.
Source:IDNfinancial

• PT Ace Hardware Indonesia (ACES)

ACES gears up towards the opening of its latest store on September 10, 2021, at Grand Cimanggis, Depok, West
Java. Helen Tanzil, Corporate Secretary of ACES, announces that the most recent store would be 3,200 metre
square. This store would be the seventh new store established by the company since the beginning of the
year.“Thus, the company now manages 214 stores in total,” Tanzil confirms in the information disclosure in
Indonesia Stock Exchange today (9/9).For the record, ACES recently launched the sixth newest store on September
5, 2021, in Sukabumi Kosasih, West Java. Earlier this year, the company had set the target to introduce ten more
stores in 2021. Source:IDNfinancial
ANALYST DECLARATION:

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Isfhan Helmy
Head of Research

Published by PT OCBC Sekuritas Indonesia