DAILY DAILY RESEARCH 11 April 2022 Market Activity Friday, 08 Apr 2022 Market Index : 7,210.8 Index Movement : +83.5 1.17% Market Volume : 21,803 Mn shrs Market Value : 13,943 Bn rupiah Leading Movers MDKA 5,525 450 8.9 BBCA 7,850 100 1.3 ADMR 2,790 370 15.3 UNTR 28,600 1450 5.3 Lagging Movers BBRI 4,610-20 -0.4 BUKA 348-8 -2.2 CPIN 5,500-50 -0.9 BANK 2,270-70 -3.0 Foreign Net Buy / Sell (Regular Market) Net Buy (IDR bn) Net Sell (IDR bn) TLKM 291 ADRO 47 BBRI 178 BUMI 42 BBCA 164 BMRI 35 ADMR 124 ESSA 18 UNTR 117 NATO 17 Money Market USD/IDR 14,362 3.0 0.0 JIBOR O/N 5.9 0.0-0.3 Dual Listing Securities TLKM 31.7 0.3 0.9 EIDO 24.8 0.2 0.8 Global Indices DJIA 34,721 138 0.40 S&P 500 4,488-12 -0.27 Euro Stoxx 3,858 56 1.48 MSCI World 3,012-2 -0.06 STI 3,383-21 -0.62 Nikkei 26,986 97 0.36 Hang Seng 21,872 63 0.3 Commodities* Brent Oil 102.8 2.2 2.19 Coal (ICE) 299.5 12.0 4.17 CPO Malay 6,303 44.0 0.70 Gold 1,946 11.0 0.57 Nickel 34,585 1.0 0.00 Tin 43,710 110.0 0.25 *last price per closing date Highlights MAPI : Membukukan Laba Bersih IDR 438.9 Miliar di FY21 Market Terdorong Sentimen Global dan Regional, IHSG Berpotensi Terkoreksi Pada penutupan Jumat lalu (08/4), pasar AS bergerak cenderung melemah. Dow Jones menguat +0.4%, S&P 500 melemah -0.27%, dan Nasdaq melemah -1.34%. Perhatian pasar AS pada minggu ini akan tertuju pada rilis rilis data consumer dan producer CPI pada hari rabu waktu setempat serta data retail sales dan consumer sentiment pada hari kamis waktu setempat. Yield UST 10Y meningkat ke level 2.72%, dan USD index meningkat +0.18% ke level 99.79. Pasar komoditas terpantau bergerak menguat pada Jumat (08/4) kemarin; minyak WTI menguat +1.88% ke level USD 97.84/bbl, Brent menguat +1.76% ke level USD 102.35/bbl. Harga batubara menguat +3.53% ke level USD 291.6/ton, nikel menguat +2.63% ke level USD 34,584, dan CPO menguat +1.07% ke level MYR 6,681. Sedangkan harga emas terpantau flat di level USD 1,932/toz). Bursa Asia bergerak mixed pada Jumat (08/4) kemarin. Kospi menguat +0.17%, Nikkei menguat +0.36%, Hang Seng menguat +0.3%, dan Shanghai menguat +0.5%. IHSG ditutup menguat +1.17% pada perdagangan Jumat lalu (08/4) ke level 7,210, dengan net buy sebesar IDR 1.4 triliun. Di pasar reguler, investor asing mencatatkan net buy sebesar IDR 1.3 triliun, dan pada pasar negosiasi tercatat net buy sebesar IDR 45.7 miliar. Angka net buy asing tertinggi di pasar reguler dicatatkan oleh TLKM (IDR 290.7 miliar), BBRI (IDR 178.1 miliar), dan BBCA (IDR 164.3 miliar). Sementara itu, angka net sell asing tertinggi di pasar reguler dicetak ADRO (IDR 46.6 miliar), BUMI (IDR 41.7 miliar), dan BMRI (IDR 35.2 miliar). Top leading movers adalah MDKA, BBCA, dan ADMR, sedangkan BBRI, BUKA, dan CPIN menjadi top lagging movers. Terjadi penambahan 1,071 kasus baru COVID-19 di Indonesia pada hari Minggu (10/4) namun dengan jumlah kasus sembuh yang meningkat lebih besar +2,493. Daily positive sebesar 0.1% dan overall positive rate sebesar 9.8% (recovery rate: 96.2%; kasus aktif: 72,679). Pagi ini Kospi dibuka melemah -0.23% dan Nikkei dibuka melemah -0.63%. Kami memperkirakan IHSG akan terkoreksi hari ini, seiring dengan sentimen beragam dari pergerakan bursa global dan bursa regional. 1
12-May-21 11-Jun-21 11-Jul-21 10-Aug-21 9-Sep-21 9-Oct-21 8-Dec-21 7-Jan-22 6-Feb-22 8-Mar-22 7-Apr-22 12-May-21 11-Jun-21 11-Jul-21 10-Aug-21 9-Sep-21 9-Oct-21 8-Dec-21 7-Jan-22 6-Feb-22 8-Mar-22 7-Apr-22 3-May-21 24-May-21 14-Jun-21 5-Jul-21 26-Jul-21 16-Aug-21 6-Sep-21 27-Sep-21 18-Oct-21 29-Nov-21 20-Dec-21 10-Jan-22 31-Jan-22 21-Feb-22 14-Mar-22 4-Apr-22 12-May-21 11-Jun-21 11-Jul-21 10-Aug-21 9-Sep-21 9-Oct-21 8-Dec-21 7-Jan-22 6-Feb-22 8-Mar-22 7-Apr-22 3-May-21 24-May-21 14-Jun-21 5-Jul-21 26-Jul-21 16-Aug-21 6-Sep-21 27-Sep-21 18-Oct-21 29-Nov-21 20-Dec-21 10-Jan-22 31-Jan-22 21-Feb-22 14-Mar-22 4-Apr-22 12-May-21 12-Jun-21 12-Jul-21 12-Aug-21 12-Sep-21 12-Oct-21 12-Nov-21 12-Dec-21 12-Jan-22 12-Feb-22 12-Mar-22 COVID-19 Data Indonesia 7 Day Running Covid-19 Data Total 1D Change Total Daily Total d Cases Cases % Deaths Deaths Active Cases % 4/10/2022 6,031,636-155,597 - (178,568,453) 3060.53 4/9/2022 6,031,636 0.02 155,597 41 (178,568,453) 3060.53 4/8/2022 6,030,168 0.03 155,556 47 (178,569,880) 3061.28 4/7/2022 6,028,413 0.03 155,509 45 (178,571,588) 3062.17 4/6/2022 6,026,324 0.04 155,464 43 (178,573,632) 3063.23 4/5/2022 6,023,924 0.14 155,421 257 (174,436,833) 2995.73 4/4/2022 6,015,748-155,164 - (167,284,625) 2880.78 Average 62 3026.32 Source: SSI Research, Bloomberg COMMODITIES Gold: Gold 100 Oz Futures (USD/Troi oz) 2,100 2,000 1,900 1,800 1,700 1,600 1,500 Oil: Generic 1st Crude Oil, Brent (USD/Barel) 140 120 100 80 60 40 20 1,400 0 Coal: Newcastle Coal (USD/MT) 490 440 390 340 290 240 190 140 90 40 CPO: Bursa Malaysia Crude Palm Oil (MYR/MT) 8,500 7,500 6,500 5,500 4,500 3,500 2,500 1,500 Pulp: Generic Bleached Softwood Craft Pulp (CNY/MT) 8,000 7,500 7,000 6,500 6,000 5,500 5,000 4,500 4,000 Nickel: London Metal Exchange Nickel Future (USD/MT) 55,000 50,000 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 2
MAPI: Membukukan Laba Bersih IDR 438.9 Miliar di FY21 Sepanjang 2021, pendapatan MAPI naik +24.1%% yoy menjadi IDR 18.4 triliun. Laba kotornya naik +24.5% yoy menjadi IDR 7.7 triliun, dengan GPM sebesar 41.8% (FY20: 41.6%). MAPI berhasil membukukan laba usaha sebesar IDR 1.2 triliun (FY20: rugi -IDR 57 miliar), dan laba bersih sebanyak IDR 438,9 miliar (FY20: IDR rugi -554 miliar). (Laporan Keuangan) Comment: Angka penjualan dan laba bersih MAPI di 2021 masing-masing mencapai 104.5% dan 110.8% dari proyeksi SSI. Secara stand alone, di 4Q21 pendapatan MAPI naik cukup signifikan (+115.3% qoq, +37.0% yoy) menjadi IDR 6.3 triliun, setelah sebelumnya di 3Q21 mengalami penurunan kinerja akibat PPKM darurat. Selain itu, secara seasonality pendapatan MAPI di 4Q21 memang cenderung lebih tinggi dibandingkan kuartal lain, dan menyumbang 28.5% dari total pendapatan tahunan MAPI secara rata-rata di 5 tahun terakhir. Laba kotor MAPI naik +137.1% yoy menjadi IDR 2.7 triliun dengan GPM sebesar 42.1% (3Q21: 38.2%). Laba operasional MAPI naik menjadi IDR 846 miliar (FY20: -IDR 296 miliar), dengan laba bersih sebesar IDR 522 miliar (FY20-: rugi -IDR 355 miliar). Pertumbuhan kinerja MAPI juga didorong oleh penurunan rasio opex/sales menjadi 28.8% (3Q21: 48.3%). Sepanjang FY21, MAPI telah membuka beberapa gerai pertama untuk sejumlah brand baru dalam naungannya, diantaranya Digiplus (Mei 2021 - elektronik) dan Subway (Oktober 2021 - restoran sandwich asal US). MAPI: Under review (Previous: MAPI: BUY: 26.3x PE '22E, 3.2x PBV '22E, TP: IDR 1,100) 3
Stock Rec. JCI Wgt price TP SSI TP Cons SSI Upside PE (x) PE (x) PBV (x) PBV (x) ROE (%) ROE (%) (%) (IDR) (IDR) (IDR) (%) 22A 23E 22A 23E 22A 23E Banks BBCA HOLD 8.7 7,850 8,100 8,359 3.2 31.9 26.6 4.8 4.3 15.1 16.3 BBRI BUY 8.6 4,610 5,400 5,163 17.1 19.4 16.6 2.4 2.2 12.5 13.2 BMRI HOLD 5.6 7,700 8,000 9,140 3.9 14.2 11.4 1.7 1.6 12.3 14.2 BBNI HOLD 2.4 8,425 8,500 9,131 0.9 14.4 10.3 1.3 1.0 8.8 10.1 BBTN BUY 0.3 1,645 2,200 2,212 33.7 7.3 6.4 0.8 0.7 11.1 10.9 Average 12.0 9.4 1.3 1.1 10.7 11.7 Consumer (Staples) ICBP BUY 0.7 7,450 12,000 10,745 61.1 12.6 11.3 2.6 2.3 20.8 20.6 INDF BUY 1.1 6,125 7,150 8,235 16.7 7.7 7.4 1.1 1.0 14.7 14.0 KLBF BUY 1.2 1,580 1,950 1,829 23.4 23.8 21.6 3.9 3.5 16.3 16.4 UNVR BUY 0.8 3,540 4,800 4,158 35.6 24.6 22.7 28.8 25.7 117.1 113.0 SIDO HOLD 0.2 935 970 1,121 3.7 25.1 22.0 8.0 7.6 31.9 34.3 Average 18.8 17.0 8.9 8.0 40.2 39.7 Cigarette HMSP SELL 0.3 910 870 1,032-4.4 13.6 11.7 3.6 3.4 26.4 29.3 GGRM HOLD 0.4 30,800 32,500 35,446 5.5 9.3 6.5 1.0 0.9 10.5 14.1 Average 11.5 9.1 2.3 2.2 18.4 21.7 Healthcare MIKA BUY 0.5 2,400 2,960 2,689 23.3 26.7 26.4 6.1 5.4 22.8 20.5 SILO BUY 0.1 1,190 1,420 1,128 19.3 22.5 22.5 2.4 2.2 10.6 9.9 HEAL BUY 0.4 1,300 5,700 1,368 338.5 6.5 6.1 1.2 1.0 19.0 17.1 Average 18.5 18.3 3.2 2.9 17.4 15.8 Poultry CPIN HOLD 1.4 5,500 5,800 6,933 5.5 24.0 22.7 3.6 3.2 14.9 14.3 JPFA HOLD 0.3 1,650 1,800 2,081 9.1 9.5 10.6 1.5 1.3 15.5 12.5 MAIN HOLD 0.0 675 685 730 1.5 9.9 6.6 0.7 0.6 6.8 9.4 WMUU BUY 0.0 159 340 240 113.8 7.2 3.0 1.6 1.0 21.8 34.4 WMPP BUY 0.0 140 240 240 71.4 12.7 7.8 2.2 1.8 17.2 22.8 Average 12.7 10.1 1.9 1.6 15.2 18.7 Retail MAPI BUY 0.3 845 1,100 1,021 30.2 35.4 20.2 2.5 2.4 7.2 12.1 RALS BUY 0.0 760 900 844 18.4 16.2 11.2 1.2 1.1 7.7 10.2 ACES BUY 0.3 1,085 1,900 1,393 75.1 17.0 14.9 3.3 3.0 19.6 20.0 LPPF SELL 0.2 5,975 3,430 5,485-42.6 17.1 12.7 15.1 9.5 88.3 75.2 ERAA BUY 0.2 545 785 891 44.0 7.9 7.2 1.3 1.2 16.9 16.1 Average 18.7 13.2 4.7 3.4 27.9 26.7 Pulp and Paper INKP BUY 0.6 7,925 9,900 10,050 24.9 6.8 7.8 0.6 0.6 9.3 7.8 ALDO BUY 0.0 1,010 2,000 2,000 98.0 18.4 15.1 1.7 1.5 9.1 9.8 Average 12.6 11.4 1.2 1.0 9.2 8.8 Media MNCN BUY 0.3 955 1,300 1,253 36.1 5.4 4.8 0.8 0.7 14.1 14.0 SCMA BUY 0.2 288 490 430 70.1 18.5 16.2 5.5 4.7 29.7 29.3 FILM BUY 0.0 1,120 1,350 1,350 20.5 280.0 160.0 8.5 8.2 3.0 5.1 Average 101.3 60.3 4.9 4.5 15.6 16.2 Telco EXCL BUY 0.4 2,690 3,000 3,765 11.5 39.0 30.9 1.5 1.4 3.8 4.6 ISAT BUY 0.2 5,325 7,250 7,529 36.2 n/a 61.9 2.2 0.2-5.6 0.4 TLKM HOLD 8.6 4,580 5,000 5,099 9.2 20.8 19.9 4.2 4.0 20.2 20.1 Average 29.9 37.6 2.6 1.9 6.1 8.4 4
Stock Rec. JCI Wgt price TP SSI TP Cons SSI Upside PE (x) PE (x) PBV (x) PBV (x) ROE (%) ROE (%) (%) (IDR) (IDR) (IDR) (%) 22A 23E 22A 23E 22A 23E Telco Infra TBIG SELL 0.9 2,970 1,550 3,223-47.8 58.2 51.2 9.1 8.1 15.6 15.8 TOWR BUY 1.0 1,040 1,600 1,345 53.8 16.3 14.6 4.4 3.8 27.0 25.7 MTEL BUY 0.4 760 965 1,003 27.0 63.3 42.2 1.9 1.8 3.0 4.3 Average 45.9 36.0 5.1 4.6 15.2 15.3 Auto ASII HOLD 5.1 7,000 7,300 7,147 4.3 14.7 13.0 1.3 1.2 9.1 9.5 DRMA BUY 0.0 555 830 862 49.5 11.6 8.8 2.4 1.8 20.8 20.7 ASLC BUY 0.0 226 320 410 41.6 173.8 98.3 11.9 2.8 6.8 2.8 Average 66.7 40.0 5.2 1.9 12.2 11.0 Mining Contracting UNTR HOLD 1.7 28,600 31,000 30,310 8.4 15.4 11.4 1.7 1.6 11.2 13.8 Average 15.4 11.4 1.7 1.6 11.2 Property BSDE BUY 0.3 970 1,480 1,406 52.6 14.7 11.1 0.5 0.5 3.5 4.4 PWON BUY 0.3 496 630 617 27.0 20.7 17.1 1.5 1.4 7.3 8.1 SMRA BUY 0.3 720 1,200 1,145 66.7 30.0 19.5 1.6 1.5 5.3 7.7 CTRA BUY 0.3 990 1,360 1,413 37.4 12.9 10.9 1.1 1.0 8.6 9.3 Average 18.2 12.9 0.9 0.8 4.4 5.7 Construction PTPP BUY 0.1 960 1,400 1,293 45.8 16.0 15.0 0.4 0.4 2.5 2.6 ADHI BUY 0.0 710 1,420 1,030 100.0 23.7 12.2 0.4 0.4 1.9 3.4 WSKT BUY 0.2 545 1,220 891 123.9 n/a n/a 0.5 0.6-4.2-22.2 WIKA BUY 0.1 965 1,440 1,268 49.2 40.2 28.4 0.5 0.5 1.3 1.7 WEGE BUY 0.0 182 300 267 64.8 8.2 5.8 0.7 0.7 9.0 11.3 Average 12.1 10.4 0.5 0.6 2.4-2.8 Cement INTP BUY 0.7 10,450 13,000 13,669 24.4 23.0 17.7 1.7 1.7 7.6 9.7 SMGR BUY 0.8 6,675 13,050 9,569 95.5 14.1 13.3 1.0 1.0 7.4 7.5 Average 18.5 15.5 1.4 1.4 7.5 8.6 Precast WTON BUY 0.0 216 266 293 23.1 6.5 4.1 0.5 0.5 7.9 11.4 Average 6.5 4.1 0.5 0.5 7.9 11.4 Oil and Gas PGAS BUY 0.6 1,395 1,800 1,847 29.0 6.2 9.4 0.7 0.6 10.7 6.9 AKRA BUY 0.3 920 1,040 1,033 13.0 16.4 14.6 2.0 1.8 12.0 12.6 MEDC BUY 0.1 560 1,090 850 94.6 n/a 7.7 0.8 0.7-9.9 9.7 Average 11.3 10.6 1.2 1.1 4.3 9.7 Chemical TPIA SELL 1.4 10,750 10,250 7,750-4.7 123.6 56.9 7.4 7.4 6.0 13.0 BRPT BUY 0.9 890 1,150 1,025 29.2 111.3 44.5 4.7 4.4 4.2 9.9 ESSA SELL 0.4 1,515 225 1,100-85.1 n/a 60.6 5.2 5.2-0.3 8.6 Average 117.4 54.0 5.8 5.7 3.3 10.5 Utilities Metal JSMR BUY 0.3 3,710 4,150 5,014 11.9 21.0 13.7 1.0 1.0 5.0 7.1 ANTM BUY 0.9 2,800 3,230 3,178 15.4 27.5 21.4 3.2 3.0 11.8 14.2 MDKA SELL 2.5 5,525 3,000 4,826-45.7 127.7 30.0 20.1 21.9 15.7 72.9 INCO SELL 0.6 7,575 6,900 6,998-8.9 31.7 18.4 2.5 2.1 7.7 11.4 BRMS SELL 0.8 244 200 165-18.0 0.1 0.0 2.7 1.4 1792.4 3471.9 Average 46.7 457.2 6.2 6.4 364.7 714.1 5
Stock Rec. JCI Wgt price TP SSI TP Cons SSI Upside PE (x) PE (x) PBV (x) PBV (x) ROE (%) ROE (%) (%) (IDR) (IDR) (IDR) (%) 22A 23E 22A 23E 22A 23E Coal ITMG BUY 0.4 27,475 33,850 31,075 23.2 4.5 4.0 1.7 1.2 39.2 29.1 ADRO HOLD 1.7 3,160 3,200 3,130 1.3 7.5 5.2 1.7 1.0 22.2 20.0 PTBA BUY 0.5 3,600 4,000 4,006 11.1 0.5 0.4 1.7 1.5 377.7 362.9 HRUM HOLD 0.2 12,900 13,600 15,163 5.4 37.2 21.7 4.4 3.7 11.8 16.9 Average 12.4 7.8 2.4 1.8 112.7 107.2 Plantation AALI BUY 0.2 12,750 14,500 14,636 13.7 13.8 16.4 1.2 1.2 8.7 7.2 LSIP SELL 0.2 1,470 1,370 1,669-6.8 11.8 12.9 1.0 1.0 8.7 7.6 SSMS HOLD 0.1 1,145 1,200 2,100 4.8 33.7 14.5 2.5 2.2 7.4 15.0 TAPG BUY 0.1 680 1,050 1,039 54.4 8.9 7.6 1.7 1.5 19.2 19.4 Average 20.1 14.4 1.3 1.1 9.0 10.2 Technology ASSA BUY 0.1 2,360 4,300 4,544 82.2 73.8 40.0 5.2 4.6 7.0 11.5 EMTK SELL 1.7 2,840 2,600 2,575-8.5 405.7 284.0 13.5 12.4 3.3 4.4 BUKA BUY 0.7 348 400 766 14.9 n/a n/a 1.5 1.6-574.9-371.3 Average 108.4 72.1 4.3 3.9 (88.1) (51.8) Source: SSI Research, Bloomberg Note: GIAA, INKP, PGAS, ITMG, ADRO, MEDC, BRPT, INCO, DOID, TPIA report in USD. Upcoming IPO's Ticker GOTO* Company (Sector) GoTo Gojek Tokopedia (Technology) Listing Potential Mkt. Cap Offering Shares issued Proceeds Net Profit P/E (IDRbn) Period Price (IDR) mn shares % (IDRbn) Usage (IDRbn) (x) 11-Apr 400,315 1-7 Apr 338 40,615 3.4 13728 Working Capital and capital injection to subsidiaries Financial Result Period -8,169 n.a 7M21 SICO* Sigma Energy Compressindo (Energy) 8-Apr 216 4-6 Apr 230 270 29.7 62 Capex, working capital and debt payment 7 17.1 9M21 TLDN* WINR* Teladan Prima Agro (Consumer Non- Cyclicals) Winner Nusantara Jaya ( Properties & Real Estate) 12-Apr 7,509 4-8 Apr 580 518 4.0 300 Debt payment, capex and capital injection to subsidiaries 269 24 9M21 18-Apr 654-915 12-14 Apr 100-140 1,500 28.7 150-210 Working capital and landbank acquisition 107 6.1 8M21 MTMH* Murni Sadar (Healthcare) 20-Apr 2,441-3,061 13-18 Apr 1,180-1,480 254 12.3 300-376 Lending facility to subsidiary, capex and working capital 122 20 10M21 IBOS* Indo Boga Sukses (Consumer Non- Cyclicals) 25-Apr 575-884 19-21 Apr 65-100 1,607 20.0 104-161 Capital injection to subsidiaries, working capital and capex 9 66.3 2021 OLIV* Oscar Mitra Sukses Sejahtera (Consumer Non- Cyclicals) 29-Apr 230-288 22-27 Apr 100-125 400 21.1 40-50 Working Capital and Capex 1 109.9 10M21 Source : e-ipo.co.id, *Note: Subject to OJK approval 6
Regional Indices Price Chg (Pts) Change (%) 1 Year 1D 1D 1W 1M 3M YTD 1YR High Low World 3,012 (1.88) (0.06) (2.25) 6.06 (5.67) (6.79) 3.51 3,262 2,792 U.S. (S&P) 4,488 (11.93) (0.27) (1.27) 6.75 (4.77) (5.83) 8.71 4,819 4,057 U.S. (DOW) 34,721 137.55 0.40 (0.28) 5.39 (4.22) (4.45) 2.72 36,953 32,273 Europe 3,858 56.36 1.48 (1.54) 4.65 (9.88) (10.24) (3.03) 4,415 3,387 Emerging Market 1,128 1.87 0.17 (2.90) 3.89 (9.26) (8.45) (15.22) 1,395 1,024 FTSE 100 7,670 117.75 1.56 1.75 7.18 2.38 3.86 10.90 7,687 6,788 CAC 40 6,548 86.54 1.34 (2.04) 4.60 (8.84) (8.46) 6.14 7,385 5,756 Dax 14,284 205.52 1.46 (1.13) 4.81 (10.40) (10.08) (6.24) 16,290 12,439 Indonesia 7,211 83.47 1.17 1.87 4.16 8.47 9.56 18.79 7,216 5,742 Japan 26,869 (116.43) (0.43) (3.13) 6.78 (4.79) (6.68) (9.74) 30,796 24,682 Australia 7,517 39.41 0.53 0.05 6.42 1.72 0.98 7.47 7,633 6,758 Korea 2,705 4.20 0.16 (1.93) 1.63 (7.61) (9.17) (13.64) 3,316 2,592 Singapore 3,383 (20.95) (0.62) (1.05) 4.11 4.22 8.31 6.24 3,466 3,024 Malaysia 1,607 6.50 0.41 0.30 2.49 2.75 2.54 (0.31) 1,623 1,475 Hong Kong 21,872 63.03 0.29 (0.57) 6.41 (7.86) (6.52) (23.79) 29,491 18,235 China 3,252 15.16 0.47 (0.45) (1.75) (8.85) (10.66) (5.76) 3,724 3,023 Taiwan 17,285 105.91 0.62 (2.57) 0.11 (5.49) (5.13) 2.55 18,620 15,160 Thailand 1,686 3.59 0.21 (0.55) 1.69 1.13 1.71 7.64 1,719 1,501 Philipines 7,018 91.99 1.33 (1.89) (1.32) (0.96) (1.47) 7.22 7,552 6,081 1D 1D 1W 1M 3M YTD 1YR High Low Foreign Reserves (US$Bn) 139.10 (1.65) (4.01) (4.01) 1.46 146.87 136.40 Inflation Rate (yoy, %) 2.64 2.64 1.33 Gov Bond Yld (10yr, %) 6.80 5.19 6.85 6.01 US Fed Rate (%) 0.50 0.50 0.25 Exchange Rate (per USD) Price Chg (Pts) Change (%) 1 Year 1D 1D 1W 1M 3M YTD 1YR High Low Indonesia 14,362 3.00 (0.02) 0.04 0.25 (0.38) (0.76) 1.20 14,635 14,057 Japan 124.52 0.18 (0.14) (1.39) (5.81) (7.40) (7.58) (12.16) 125.09 107.48 UK 1.30 0.00 0.02 (0.68) (0.08) (4.46) (3.73) (5.20) 1.42 1.30 Euro 1.09 0.00 0.12 (0.75) (0.20) (4.20) (4.22) (8.57) 1.23 1.08 China 6.37 0.00 (0.07) (0.03) (0.73) 0.18 (0.14) 2.92 6.56 6.31 Commodity Indicators Price Chg (Pts) Change (%) 1 Year 1D 1D 1W 1M 3M YTD 1YR High Low Oil (Brent) 101.00 (1.78) (1.73) (6.07) (10.36) 20.64 29.85 60.44 139.13 62.41 CPO 6,307 94.00 1.51 5.89 (7.43) 20.69 22.25 55.96 8,034 3,343 Coal 299.50 12.00 4.17 18.85 (29.64) 69.21 97.36 250.50 487.50 85.50 Tin 43,710 110.00 0.25 (2.36) (10.15) 9.75 12.48 69.45 51,000 25,300 Nickel 33,855 157.00 0.47 1.90 #N/A N/A 63.28 63.10 101.18 55,000 15,925 Copper 10,324 12.00 0.12 (0.29) 1.12 7.01 6.20 14.60 10,845 8,740 Gold 1,944 (3.25) (0.17) 0.60 (2.22) 6.74 6.29 12.21 2,070 1,691 Silver 24.76 (0.01) (0.04) 0.92 (4.28) 8.70 6.25 (0.21) 29 21 Source: Bloomberg, SSI Research 7
Research Team Suria Dharma Head of Equity Research, Strategy, Banking, Consumer Staples suria.dharma@samuel.co.id +6221 2854 8148 Lionel Priyadi Macro Equity Strategist lionel.priyadi@samuel.co.id +6221 2854 8854 Fikri C Permana Senior Economist fikri.permana@samuel.co.id +6221 2854 8144 Muhamad Alfatih, CSA, CTA, CFTe Senior Technical Analyst m.alfatih@samuel.co.id +6221 2854 8129 William Mamudi, CFTe, CMT Senior Technical Analyst william.mamudi@samuel.co.id +6221 2854 8382 Yosua Zisokhi Cement, Cigarette, Paper, Plantation,Telco Infra, Chemicals yosua.zisokhi@samuel.co.id +6221 2854 8387 Andreas Kristo Saragih Construction, Toll Roads andreas.kristo@samuel.co.id +6221 2864 8303 Dessy Lapagu Aviation, Coal, Metals dessy.lapagu@samuel.co.id +6221 2854 8392 Paula Ruth Telco paula.ruth@samuel.co.id +6221 2854 8332 Olivia Laura Anggita Healthcare, Property olivia.laura@samuel.co.id +6221 2854 8346 M. Farras Farhan Media, Poultry, Oil & Gas, Technology farras.farhan@samuel.co.id +6221 2854 8346 Pebe Peresia Automotive, Consumer Staples pebe.peresia@samuel.co.id +6221 2854 8339 Adolf Richardo Editor adolf.richardo@samuel.co.id +6221 2864 8397 Ashalia Fitri Yuliana Research Associate ashalia.fitri@samuel.co.id +6221 2854 8389 Equity Institutional Team Benny Bambang Soebagjo Head of Institutional Equity Sales benny.soebagjo@samuel.co.id +6221 2854 8312 Ronny Ardianto Institutional Equity Sales ronny.ardianto@samuel.co.id +6221 2854 8399 Anthony Yunus Institutional Equity Sales anthony.yunus@samuel.co.id +6221 2854 8314 Fachruly Fiater Sales Trader fachruly.fiater@samuel.co.id +6221 2854 8325 Lucia Irawati Sales Trader lucia.irawati@samuel.co.id +6221 2854 8173 Suryanti Salim Sales Trader suryanti.salim@samuel.co.id +6221 2854 8173 Muhammad Faisal Dealer m.faisal@samuel.co.id +6221 2854 8173 Private Wealth Management Evelyn Satyono Head of PWM Equity Sales evelyn.satyono@samuel.co.id +6221 2854 8380 Clarice Wijana PWM Equity Sales clarice.wijana@samuel.co.id +6221 2854 8395 Gitta Wahyu Retnani PWM Equity Sales gitta.wahyu@samuel.co.id +6221 2854 8365 Vincentius Darren PWM Equity Sales darren@samuel.co.id +6221 2854 8348 Wahyudi Budiyono Dealer wahyudi.budiyono@samuel.co.id +6221 2854 8152 Fixed Income Sales Team R. Virine Tresna Sundari Head of Fixed Income virine.sundari@samuel.co.id +6221 2854 8170 Rudianto Nugroho Fixed Income Sales rudianto.nugroho@samuel.co.id +6221 2854 8306 Sany Rizal Keliobas Fixed Income Sales sany.rizal@samuel.co.id +6221 2854 8337 Julio Simangunsong Fixed Income Sales julio.natanael@samuel.co.id +6221 28548384 Equity Retail / Online Team Joseph Soegandhi Head of OLT joseph.soegandhi@samuel.co.id +6221 2854 8872 Nugroho Nuswantoro Head of Marketing Online Trading nugroho.nuswantoro@samuel.co.id +6221 2854 8372 Damargumilang Head of Equity Retail damargumilang@samuel.colid +6221 2854 8309 Salt World Widjaja Retail Equity Sales salt@samuel.co.id +6221 2854 8163 Widya Meidrianto Equity Retail widya.meidrianto@samuel.co.id +6221 2854 8317 Michael Alexander Equity Retail michael.alexander@samuel.co.id +6221 2854 8369 DISCLAIMER: Analyst Certification: The views expressed in this research accurately reflect the personal views of the analyst(s) about the subject securities or issuers and no part of the compensation of the analyst(s) was, is, or will be directly or indirectly related to the inclusion of specific recommendations or views in his research. The analyst(s) principally responsible for the preparation of this research has taken reasonable care to achieve and maintain independence and objectivity in making any recommendations. This document is for information only and for the use of the recipient. It is not to be reproduced or copied or made available to others. Under no circumstances is it to be considered as an offer to sell or solicitation to buy any security. Any recommendation contained in this report may not be suitable for all investors. Moreover, although the information contained herein has been obtained from sources believed to be reliable, its accuracy, completeness and reliability cannot be guaranteed. All rights reserved by PT Samuel Sekuritas Indonesia 8