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1 05 Januari, 2015 L A P O R A N H A R I A N Penutupan Prb %Prb %Ytd P/E Americas INDU Index 17, SPX Index 2, (0.03) CCMP Index 4, (0.20) IBOV Index 48, (2.99) EMEA UKX Index 6, (0.28) CAC Index 4, (0.48) RTSSTD Index 9, IBEX Index 10, FTSEMIB Index 19, #N/A N/A AEX Index (0.52) SMI Index 8, Asia / Pacific NKY Index 17, (0.68) HSI Index 23, SHCOMP Index 3, (0.00) TWSE Index 9, KOSPI Index 1, (0.56) JCI Index 5, SET Index 1, PCOMP Index 7, SENSEX Index 27, FSSTI Index 3, Deskripsi Terakhir Sebelumnya %Prb Kapitalisasi Pasar (IDR Triliun) 5, , Volume Transaksi (Juta Saham) 3, , Nilai Transaksi (IDR Juta) 3, , Nilai/ saham (IDR) Net Asing (IDR Juta) (4,175.63) 2,495, Komoditas Terakhir Sebelumnya %Prb Nikel/Nickel (US$/Ton) 14, , Tembaga/Copper (US$/Ton) 6, , Timah/Tins (US$/Ton) 19, , Minyak/Oil (US$/BBL) (*) Gas (US$/MMBTU) Batu Bara/Coal (US$/Ton) (**) Emas/Gold (USD/OZ) 1, , CPO PALMROTT(USD/ton) CPO MALAYSIA(RM/ton) 2, , (*) WTI Cushing (**) McCloskey Newscatle ADR Stocks Bloomberg Code Terakhir % Konversi (US$) Prb (Rp) Terakhir (Rp) Saham Kode Last (US$) %Change Conv (Rp) Last (Rp) Telkom TLK US , , Daily Report dapat dilihat di website BNI Securities : RISET PERKIRAAN PASAR HARI INI Penguatan IHSG dibayangi aksi profit taking 5,000 4,500 4,000 3,500 No Stock Top Value (IDR) 1 INDF IJ 408,478,300,000 2 BMRI IJ 228,513,600,000 3 SIAP IJ 137,193,200,000 4 MPPA IJ 127,105,400,000 5 ADHI IJ 119,549,600,000 No Stock Top Volume (Shares) 1 BUMI IJ 548,555, SIAP IJ 298,546, APOL IJ 216,580, CPRO IJ 168,998, BKSL IJ 112,298, No Top Gainers % change 1 SIMA IJ HOME IJ VRNA IJ 20 4 MREI IJ FORU IJ No Top Losers % change 1 SRAJ IJ INVS IJ IMJS IJ BBMD IJ MFMI IJ No Leading Movers % change 1 INDF IJ BBCA IJ GGRM IJ MDIA IJ UNVR IJ 0.70 No Lagging Movers % change 1 TOWR IJ ASII IJ SIAP IJ KLBF IJ BBMD IJ ,000 1-Jan 11-Mar 20-May 29-Jul Volume (RHS) (Bn Shares) JCI (LHS) 14,990 12,310 9,630 6,950 4,270 1,590

2 P E R K I R A A N P A S A R H A R I I N I Penguatan IHSG dibayangi aksi profit taking Perdagangan bursa US pekan lalu rata rata flat, Dow +0.06% ke level 17,833 sementara Nasdaq 0.19% ke level 4,727 dan S&P % di level 2,058. Pasar merespon indeks manufaktur yang mengalami perlambatan pada akhir tahun 2014 yang menyentuh level 55.5 per Desember 2014, dibanding November 2014 sebesar 58.7, serta estimasi Sementara belanja konstruksi turun 0.3% per November 2014, dibawah estimasi +0.3%. Secara keseluruhan kekhawatiran investor masih dalam rentang jangka pendek, dibandingkan proyeksi pertumbuhan yang masih positif pada Pada kawasan Eropa indeks juga turut melemah, FTSE London 0.28% ke level 6,548 DAX Frankfurt 0.41% ke level 9,765 dan CAC Paris 0.49% ke level 4,252. Bank Sentral Eropa mengindikasikan akan melakukan langkah langkah stimulus lebih luas lagi demi menjaga stabilitas pasar. Hal ini diperkirakan akan mendorong pergerakan pasar. Sementara bursa Asia, Nikkei 0.40% HangSeng +1.07% dan Shanghai Index +2.19%. Untuk IHSG, jum at menguat tipis +0.3% ke level 5,242 dengan net sell asing Rp4 miliar. Penguatan sektor dipimpin properti +1.5% dan konsumsi +1.3%, sementara USD/IDR menyentuh level Rp12,250. IHSG hari ini diperkirakan masih akan melanjutkan penguatannya. Meski demikian, dengan kenaikan hingga +117 poin pada perdagangan lima hari terakhir serta net sell asing, investor antisipasi aksi profit taking yang diperkirakan akan terjadi. Inflasi yang melonjak menjadi 8.36% per Desember 2014 dibanding November 2014 sebesar 6.23% juga dapat menjadi pemberat pergerakan indeks. Indeks hari ini diperkirakan akan bergerak pada rentang 5,150 5,200 dengan potensi penutupan melemah tipis. Saham pilihan BBRI UNTR ADRO LSIP TINS TRAM. Analyst: Dessy Lapagu (dessy@bnisecurities.co.id) 2

3 R I N G K A S A N B E R I T A PT Trikomsel Oke Tbk (TRIO) dan Selular Group, distributor dan peritel handset, menganggarkan belanja modal (capital expenditure/capex) sebesar Rp miliar pada Dana tersebut akan digunakan untuk penambahan jumlah otlet, termasuk pengembangan merek handset. Asia Fibers proyeksikan penjualan 2015 stagnan. Harga polister global pada akhir 2014 sebesar US$ US$ per ton, turun 20% 30% sepanjang tahun tersebut. Waskita Karya bidik kontrak proyek tol Rp 12 triliun. Perseroan terbuka terhadap peluang kerjasama dalam pembangunan proyek tol. PT Alam Sutera Realty Tbk (ASRI), emiten properti, berencana mengalokasikan 50% belanja modal (capital expenditure/capex) tahun ini untuk menambah lahan di Pasar Kemis dan Serpong di Tangerang. Sisanya untuk pengembangan proyek. Tahun ini perseroan menyiapkan total belanja modal sekitar Rp 2,2 triliun. Trafik layanan data tiga operator besar, yakni PT Telekomunikasi Selular (Telkomsel), PT XL Axiata Tbk (EXCL), dan PT Indosat Tbk (ISAT) naik hingga 33% pada tahun baru Namun, trafik suara (voice) Telkomsel dan XL tercatat turun hingga 4%, sedangkan Indosat naik 9% di periode tersebut. PT Eterindo Wahanatama Tbk (ETWA) memprediksikan penjualan bahan bakar nabati (BBN) jenis biodiesel sepanjang 2014 mencapai 65 ribu metrik ton atau 50% dari target 130 ribu metrik ton. Immanuel Sutarto, Presiden Direktur Eterindo Wahanatama, mengatakan tidak tercapainya target penjualan karena perusahaan menurunkan volume penjualan biodiesel dalam negeri dengan pertimbangan harga. PT Timah Tbk (TINS), emiten pertambangan mineral logam, menargetkan belanja modal (capital expenditure) sebesar Rp 1,1 Triliun tahun ini, lebih rendah dari proyeksi 2014 sebesar Rp 1,4 triliun. Agung Nugroho, Sekretaris Perusahaan Timah, mengatakan alokasi belanja modal perseroan tahun ini akan diorong untuk kegiatan operasional dalam rangka meningkatkan kapasitas produksi. PT Modern International Tbk (MDRN), emiten ritel, melakukan peningkatan penyertaan saham kepada entitas anak yaitu PT Modern Sevel Indonesia sebesar Rp 300 miliar. Direksi perseroan mengatakan peningkatan modal kepada entintas anak pemegang merek 7 Eleven ini dilakukan guna mengembangkan dan mengelola gerai untuk masa 20 tahun penuh dan masa perpanjangan 10 tahun. PT Metrodata Electronics Tbk optimistis porsi bisnis dari proyek pemerintah bisa meningkat menjadi 10% dari total pendapatan tahun ini. Optimisme ini lantaran manajemen perusahaan itu melihat saat ini pemerintah tengah fokus memperbaiki layanan publik secara online dengan program e government dan smart city. Source : Investor Daily, Kontan, Indonesia Finance Today, Inilah, Viva News 3

4 A N A L Y S T S T A R G E T P R I C E Capitalization 1 Year FY15F FY15F Ratio 1 Year in 2013 Float Shares Banking BBCA IJ Equity 255,795,728,750, BUY 14, BBNI IJ Equity 81,774,358,577, BUY 7, BBRI IJ Equity 215,238,438,450, BUY 14, BMRI IJ Equity 210,583,333,303, BUY 13, Average Cement INTP IJ Equity 92, BUY 27, SMGR IJ Equity 97, BUY 18, SMBR IJ Equity 3, HOLD SMCB IJ Equity 17, HOLD 2, Average 52, Telecommunication EXCL IJ Equity 38,575,897,814, BUY 5, TLKM IJ Equity 227,303,991,882, BUY 3, Average Transportation GIAA IJ Equity 10,912,960,072, HOLD TAXI IJ Equity 3,132,580,000, BUY 1, Average Automotive ASII IJ Equity 282, HOLD 7, IMAS IJ Equity 8, HOLD 3, Average 145, Capitalization 1 Year FY15F FY15F Ratio 1 Year in 2013 Float Shares Construction WIKA IJ Equity 17, BUY 3, ADHI IJ Equity 4, BUY 3, PTPP IJ Equity 14, BUY 3, WSKT IJ Equity 9, BUY 1, TOTL IJ Equity 3, HOLD 1,000 #N/A N/A WTON IJ Equity 10, HOLD 1, Average 9, Infrastructure PGAS IJ Equity 146, HOLD 6, JSMR IJ Equity 44, BUY 7, Average 95, Oil & Gas MEDC IJ Equity 8, Not Rated ELSA IJ Equity 2, HOLD RUIS IJ Equity Not Rated ENRG IJ Equity 3, Not Rated Average Property ASRI IJ Equity 11, HOLD APLN IJ Equity 7, HOLD BKSL IJ Equity 3, Suspend Coverage BSDE IJ Equity 33, BUY 2, CTRA IJ Equity 20, HOLD 1, CTRP IJ Equity 5, HOLD CTRS IJ Equity 5, BUY 2, BEST IJ Equity 7, HOLD SSIA IJ Equity 4, BUY 1, MDLN IJ Equity 6, HOLD PWON IJ Equity 25, HOLD LPKR IJ Equity 27, HOLD 1, SMRA IJ Equity 22, BUY 1, KIJA IJ Equity 6, BUY Average 13,

5 A N A L Y S T S T A R G E T P R I C E Capitalization 1 Year FY15F FY15F Ratio 1 Year in 2013 Float Shares Agriculture AALI IJ Equity 40,825,264,125, BUY 31, BWPT IJ Equity 6,013,779,803, BUY LSIP IJ Equity 15,419,672,560, BUY 2, SGRO IJ Equity 4,025,700,000, BUY 2, SIMP IJ Equity 14,630,086,750, BUY SMAR IJ Equity 19,818,134,225, BUY 9, Average Metal ANTM IJ Equity 9,681,536,900,000 n.a n.a HOLD 1, INCO IJ Equity 25,337,663,736, BUY 4, TINS IJ Equity 6,895,237,400, BUY 1, Average Mining ADRO IJ Equity 36,943,786,110, BUY 1, BUMI IJ Equity HRUM IJ Equity 5,704,638,200, SELL 1, ITMG IJ Equity 29,858,268,125, HOLD 18, PTBA IJ Equity 25,633,466,831, BUY 16, Average Consumer UNVR IJ Equity 227,180,000,000, BUY 34, INDF IJ Equity 59,932,985,500, BUY 7, ICBP IJ Equity 58,467,398,600, HOLD 11, MYOR IJ Equity 26,206,731,039, HOLD 30, AISA IJ Equity 6,529,800,000, BUY 3, ROTI IJ Equity 7,060,452,000, BUY 1, GGRM IJ Equity 101,976,930,200, HOLD 60, Average Capitalization 1 Year FY14F FY14F Ratio 1 Year in 2013 Float Shares Pharmaceutical KLBF IJ Equity 75,700,795,343, HOLD 1, KAEF IJ Equity 5,286,580,000, HOLD 1, Average Retail RALS IJ Equity 8,272,480,000, HOLD MAPI IJ Equity 17,420,000,000, HOLD 5, Average Poultry CPIN IJ Equity 62,148,420,000, BUY 5, JPFA IJ Equity 11,460,061,646, BUY 1, MAIN IJ Equity 3,823,785,000, BUY 3, Average

6 RESEARCH TEAM Research Division : Fax No : E mail : research@bnisecurities.co.id Norico Gaman ext norico@bnisecurities.co.id Head of Research Investment Strategy Andri Zakarias ext andri.zakarias@bnisecurities.co.id Technical Analyst Market Strategy, Commodities, Heru Irvansyah ext heru@bnisecurities.co.id Economist Currency, Bond & Stocks I Made Adi Saputra ext made.saputra@bnisecurities.co.id Fixed Income Analyst Thendra Crisnanda ext thendra@bnisecurities.co.id Analyst Automotive, Cement, Construction, Property Infrastructure, Yasmin Soulisa ext yasmin@bnisecurities.co.id Analyst Coal Mining, Metal Mining, Plantation, Oil & Gas Ankga Adiwirasta ext ankga.adiwirasta@bnisecurities.co.id Analyst Consumer Goods, Pharmaceutical, Retail Richard Jerry ext richard@bnisecurities.co.id Analyst Banking, Telecommunication Dessy Lapagu ext dessy@bnisecurities.co.id Research Assistant Poultry Venia Allani Meissalina ext venia@bnisecurities.co.id Research Assistant Thennesia Debora ext thennesia@bnisecurities.co.id Research Assistant Transportation Indah Lestari ext indah.lestari@bnisecurities.co.id Research Assistant EQUITY TEAM CM : Fax No : Norico Gaman ext Jufrani Amsal ext norico@bnisecurities.co.id Equity Division Head (PJS) amsal@bnisecurities.co.id Channel Distribution Division Head Entis Sutisman ext entis@bnisecurities.co.id Head of Local Institution Chandrawati ext chandrawati@bnisecurities.co.id Head of HO Retail Yulinda ext yulinda@bnisecurities.co.id Institutional Sales 6

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