Akakarta, CNBC Indonesia – The shares of the companies engaged in the construction sector are still continuing their benefits after yesterday’s successful rise.
The increase in construction stocks from yesterday was inseparable from the positive feelings such as the reduction of the reference interest rate by the Bank of Indonesia, the Yogyakarta-Baven toll project and the news from the Coordinating Minister for Maritime Affairs and Investments, Luhut Binsar Panjaydan on for sovereign wealth.
The following is the movement of construction stocks in today’s trading.
The trade data showed that after leading the increase in the shares of the property after the flight by 11.41% yesterday, PT Adi Karija Tbk (ADHI) again led the increase today with an appreciation of 4.88% at the level of 1,075 rupees per unit.
Road construction company PT Jasa Marga Tbk (JSMR) also managed to expand 3.45% to 4,500 Rp / unit.
Furthermore, another BUMN Karya issuer, namely PT Waskita Karya Tbk (WIKA), also managed to get 2.04% greener at the level of 1,500 IDR / unit.
It was noted that only one large construction company stagnated, namely PT Vaskita Karia Tbk (WSKT), which remained at the level of 1,095 RP / unit.
Indonesia’s research team CNBC estimates that assets and construction inventories have risen since the Bank of Indonesia (BI) announced the BI 7-day reverse repo rate of 3.75%, the lowest level in its history. Low interest rates will revive the construction, infrastructure, cement and property sectors.
In addition, the strengthening of construction stocks, including ADHI, came at a time of positive news in the sector, where the Yogyakarta-Baven toll will soon be built last week with an investment value of Rs 14 trillion. ADHI, WSKT and PTPP participated in this project.
A consortium of 5 state-owned companies worked on this project after winning the auction. This consortium includes PT Jasa Marga Tbk (JSMR) with a share of 60%, ADHI 12.5%, WSKT 12.5%, PTPP 12.5% and PT Brantas Abipraya (Persero) 2.5%.
In addition, there is the latest investment news brought by the Minister of Maritime Affairs and Investment Coordination, Luhut Binsar Pandjaitan, related to the Indonesian Investment Authority / Sovereign Wealth Fund.
The United States (US) has officially signed a Letter of Interest (LOI) for an investment of $ 2 billion ($ 28 trillion) from the International Finance Corporation (IDFC) to the Indonesian Investment Authority or the Indonesian Sovereign Wealth Fund.
A notification from the website of the Ministry of Maritime Affairs Coordination, LOI was signed by the Executive Director of IDFC AS, Adam Boller in Washington on Thursday (19/11/2020) local time. The signing was witnessed directly by Luhut Binsar Pandyaitan.
Kemenko said the Olympics were expected to attract US investors to invest in Indonesia. “Indonesia is currently in need of investment in infrastructure development,” the ministry said in a statement.
This cooperation is felt to strengthen economic ties between the United States and Indonesia. Not only is it an investor, IDFC will also work with partners in Japan, the United Arab Emirates and Singapore to participate in the Indonesian Investment Authority.
CNBC INDONESIA RESEARCH TEAM
(trp / trp)