Samuel Research Market Activity Monday, 28 Aug 2017 Market Index Index Movement Market Volume Market Value : 5,915.4 : +21.2 (+0.4%) : 4,050 Mn shrs : 5,327 Bn rupiah Leading Movers HMSP 3,700 60 1.6 BBCA 19,100 150 0.8 UNVR 49,950 450 0.9 ICBP 8,850 250 2.9 Lagging Movers SMGR 10,575-175 -1.6 TLKM 4,770-10 -0.2 BRAM 6,800-1700 -20.0 BSIM 800-45 -5.3 Foreign Net Buy / Sell Net Buy (Rpbn) Net Sell (Rpbn) TLKM 32 BMRI 88 ASII 19 BBRI 58 INDF 19 PWON 43 ADRO 14 KLBF 20 SCMA 10 BBCA 15 Money Market USD/IDR 13,346-1.0 0.0 JIBOR O/N 4.1 0.0 - Infl (MoM) 0.2 - - Dual Listing Securities TLKM 35.7 0.0 0.0 ISAT 39.5 0.2 0.4 EIDO 27.3 0.1 0.4 World Indices DJIA 21,814 30 0.1 S&P 500 2,443 4 0.2 Euro Stoxx 3,439-6 -0.2 MSCI World 1,945 5 0.3 Nikkei 19,473 20 0.1 Hang Seng 27,848 330 1.2 IHSG diperkirakan flat hari ini Bursa AS ditutup mixed pada jumat lalu. Rencana Trump menurunkan pajak menjadi hal positif, namun sejumlah pelaku pasar mempertanyakan kemampuan Trump merealisasikan hal itu, terutama setelah sejumlah penasihatnya mengundurkan diri. Sementara itu di Jackson Hole, Janet Yellen menyatakan bahwa sistem keuangan AS sudah lebih aman dan Maro Draghi mengatakan bahwa pemulihan ekonomi global sudah semakin menguat. Tetapi, mereka juga mengemukakan adanya resiko keuangan sejak paska krisis di tahun 2008-2009, sehingga mengindikasikan mereka tidak ingin melonggarkan regulasi keuangan. IHSG menguat 0,36% pada jumat lalu dengan foreign net sell Rp 170 miliar di pasar reguler. IHSG juga sempat membentuk new all time high. Sejalan dengan bursa AS yang mixed dan EIDO yang agak menguat, kami melihat IHSG akan cenderung flat hari ini. Highlights MEDC: Naikkan nilai obligasi global jadi US$ 400 juta Semen: Pemerintah memastikan tidak ada moratorium pabrik baru CLEO: Proses pembangunan pabrik baru sudah 90% Perbankan: Gangguan jaringan di sejumlah bank INDY: Bantah Ingin kuasai 100% saham Kideco Jaya Agung MPPA: Tetap ekspansif Commodities Brent Oil 53 0.2 0.3 CPO Malay 2,750-27.0-1.0 Coal Newc 98-0.5-0.5 Nickel 11,441-261.0-2.2 Tin 20,455-160.0-0.8 www.samuel.co.id Page 1 of 7
MEDC: Naikkan nilai obligasi global jadi US$ 400 juta PT Medco Energi Internasional Tbk (MEDC) menaikkan nilai emisi obligasi global sebesar US$ 100 juta menjadi US$ 400 juta dari semula US$ 300 juta. Surat utang bertenor 5 tahun tersebut menawarkan bunga 8,5%/tahun. Dana hasil obligasi akan digunakan untuk melunasi fasilitas pinjaman Natuna 2016 dan medium term notes yang diterbitkan di 2015. (Investor Daily). MEDC: Buy; 17E PE: 4.2x, PBV: 0.7x. Semen: Pemerintah memastikan tidak ada moratorium pabrik baru Pemerintah memastikan belum akan melakukan moratorium terhadap pendirian pabrik semen baru meski kondisi oversupply menggantung. Menteri Perindustrian, Airlangga Hartarto menyatakan semen merupakan industri kunci untuk menopang pertumbuhan ekonomi, karena basis pembangunan infrastruktur adalah dari industri semen dan baja. (Bisnis Indonesia). Cement: Underweight CLEO: Proses pembangunan pabrik baru sudah 90% Hingga bulan Agustus ini, PT Sariguna Primatirta Tbk. (CLEO) sudah menyerap sekitar 60 70% dari total belanja modal tahun ini. Dana tersebut rencananya digunakan untuk merampungkan dua pabrik baru. CLEO menggunakan mesin mesin produksi senilai Rp47 miliar dan sisa dari dana belanja modal tersebut dipergunakan untuk pengembangan varian produk baru inovatif. Manajemen mengatakan untuk dua pabrik baru, proses pembangunan sudah mencapai 90% dan berlokasi di Ungaran, Jawa Tengah dan Kendari, Sulawesi Tenggara. Kedua pabrik baru CLEO diprediksi mampu beroperasi pada bulan Desember ini, menunggu izin edar produk dan sertifikasi Standar Nasional Indonesia (SNI). CLEO juga berencana untuk diversifikasi produk ke ma kanan ringan. Adapun tiga merek produk tersebut adalah Roller dan Whippy dengan produk wafer, snack, coklat, biskuit, pasta coklat, kerupuk, serta Mmmilk dengan produk pasta coklat, madu, permen cokelat, dan cokelat. (Kontan). CLEO: Non - Coverage. Perbankan: Gangguan jaringan di sejumlah bank Seiring adanya gangguan pergeseran orbit satelit Telkom 1 milik PT Telekomunikasi Indonesia Tbk (TLKM), sejumlah bank mengalami gangguan pada jaringan ATM dan kantor kas di akhir pekan kemarin. Bank yang terkena dampak itu antara lain BMRI, BBNI, dan BBCA. BBRI tidak begitu kena karena sejumlah besar ATM nya telah memakai satelit sendiri. BI dan sejumlah bank saat ini tengah mengalihkan jaringannya ke satelit lain. TLKM sendiri tengah memperbaiki satelit itu melalui perusahaan asal AS bernama Lockheed Martin. Diperkirakan hal ini tidak berlangsung lama. (Kontan, Detik.com). Banking: Overweight. www.samuel.co.id Page 2 of 7
INDY: Bantah ingin kuasai 100% saham Kideco Jaya Agung PT Indika Energy Tbk (INDY) bantah Ingin kuasai 100% saham Kideco Jaya Agung. Perseroan akan tetap memiliki Kideco, bersama pemegang saham lainnya untuk melakukan continuous improvementterhadap operasi perusahaan dengan biaya terendah di Indonesia. Total aset bersih Kideco hingga 1Q17 tercatat US$ 321,84 juta. Dari jumlah itu, INDY memiliki porsi kepemilikan 46%. Sementara 51% saham Kideco dikuasai Samtan Co Ltd, perusahaan asal Korea Selatan. (Kontan). INDY: Non-Coverage. MPPA: Tetap ekspansif PT Matahari Putra Prima Tbk. (MPPA) terus memacu bisnisnya dan tengah mempersiapkan strategi bisnis baru untuk mengejar pertumbuhan bisnis. Menurut keterangan Corporate Secretary perusahaan, Hypermart akan menambah dua gerai baru di semester II 2017. Pada Semester I lalu, Hypermart hanya menambah 3 gerai baru, dari target awal 5 gerai baru. Hypermart juga akan fokus untuk mengembangkan usaha sesuai dengan segmen yakni gerai compact. Perusahaan ini konsisten di luasan areal penjualan sekitar 3,500 meter 4,000 meter persegi. Selain menambah gerai baru, MPPA akan meneruskan strategi efisiensi guna mengurangi biaya operasional. Salah satu strategi efisiensi adalah berhemat di pemakaian listrik dan akan mengevaluasi pos lain yang bisa ditekan tanpa mengganggu kegiatan operasional. (Kontan). MPPA: Non - Coverage. www.samuel.co.id Page 3 of 7
Stock Rec. Mkt Cap JCI Wgt price 1D Chg YTD Chg TP Cons TP SSI Upside PE PE PBV PBV ROE ROE Banks (Rp bn) (%) (Rp) (%) (%) (Rp) (Rp) (%) 17E 18E 17E 18E 17E 18E BMRI BUY 307,417 4.8 13175 (0.2) 13.8 13483 14400 9.3 15.5 12.6 1.8 1.5 11.3% 12.0% BBCA HOLD 470,911 7.3 19100 0.8 23.2 19255 18000-5.8 20.3 19.2 3.6 3.2 17.9% 16.5% BBRI BUY 377,438 5.8 15300 0.5 31.0 15763 16600 8.5 13.4 11.6 2.3 2.0 16.9% 17.0% BBNI BUY 138,466 2.1 7425 0.0 34.4 7667 7700 3.7 10.5 8.8 1.4 1.3 13.5% 14.3% BBTN BUY 30,393 0.5 2870 1.1 64.9 2843 2870 0.0 9.7 9.1 1.4 1.2 14.4% 13.7% BNLI BUY 20,752 0.3 740 (2.0) 38.0 779 890 20.3 14.0 15.4 0.9 0.9 6.7% 5.7% Average 13.9 12.8 1.9 1.7 0.1 0.1 Consumer (Staples) ICBP BUY 103,208 1.6 8850 2.9 3.2 9320 9400 6.2 27.4 24.9 5.3 4.7 19.3% 19.0% INDF BUY 75,512 1.2 8600 2.4 8.5 9445 9900 15.1 16.2 14.1 2.3 2.1 14.2% 14.9% KLBF BUY 80,860 1.3 1725 0.0 13.9 1779 1750 1.4 32.5 28.8 6.1 5.4 18.7% 18.7% ROTI BUY 5,948 0.1 1175 0.4 (26.6) 1274 1450 23.4 31.8 16.3 3.8 3.2 12.1% 19.6% UNVR HOLD 381,119 6.0 49950 0.9 28.7 49194 45200-9.5 53.4 47.6 62.2 54.5 116.6% 114.4% SIDO BUY 7,500 0.1 500 (1.0) (3.8) 588 700 40.0 13.9 11.1 2.6 2.5 18.9% 22.4% AISA BUY 3,396 0.1 1055 0.0 (45.8) 1660 1600 51.7 5.5 4.7 0.8 0.8 14.7% 16.5% Average 25.8 21.1 11.9 10.4 30.6% 32.2% Cigarette HMSP BUY 430,377 6.7 3440 1.6 (3.4) 3991 4390 27.6 31.0 29.9 10.6 9.7 34.3% 32.4% GGRM BUY 138,486 2.2 67000 0.9 12.6 77664 77150 15.1 18.4 17.2 2.9 2.5 15.6% 14.8% Average 24.7 23.6 6.7 6.1 24.9% 23.6% Healthcare MIKA BUY 35,649 0.6 2450 1.7 (4.7) 2514 2950 20.4 45.4 41.5 8.9 8.0 19.6% 19.3% SILO HOLD 14,307 0.2 11000 (0.2) 0.9 12006 12500 13.6 135.8 106.8 4.4 4.1 3.3% 3.8% Average 90.6 74.2 6.7 6.1 11.4% 11.6% Poultry CPIN BUY 46,898 0.7 2860 1.1 (7.4) 3081 4500 57.3 12.1 11.2 1.6 1.4 12.8% 12.4% JPFA BUY 13,236 0.2 1160 1.3 (20.3) 1524 1500 29.3 6.8 5.5 1.2 1.0 18.0% 18.9% MAIN BUY 2,093 0.0 935 0.5 (28.1) 1015 2280 143.9 5.1 4.0 0.8 0.7 15.9% 17.2% Average 8.0 6.9 1.2 1.0 15.6% 16.2% Retail MAPI BUY 11,371 0.2 6850 2.2 26.9 7438 7700 12.4 45.4 32.8 3.3 3.0 7.2% 9.1% RALS BUY 7,415 0.1 1045 1.5 (12.6) 1231 1300 24.4 14.3 11.2 1.9 1.7 13.3% 15.4% ACES BUY 18,522 0.3 1080 2.4 29.3 1188 1300 20.4 24.5 20.0 5.5 4.6 22.4% 23.0% LPPF BUY 31,222 0.5 10700 (1.8) (29.3) 14280 19500 82.2 11.3 10.9 9.2 6.5 81.1% 60.0% Average 23.9 18.7 5.0 4.0 31.0% 26.9% Media MNCN BUY 21,414 0.3 1500 0.0 (14.5) 1965 2000 33.3 12.0 10.2 2.2 2.0 18.2% 19.3% SCMA BUY 33,337 0.5 2280 (0.4) (18.6) 3009 2800 22.8 20.0 18.1 8.3 7.2 41.3% 39.9% Average 16.0 14.1 5.2 4.6 29.8% 29.6% Telco EXCL BUY 39,118 0.6 3660 4.3 58.4 3776 3200-12.6 98.9 65.4 1.8 1.8 1.8% 2.7% ISAT BUY 34,641 0.5 6375 (0.4) (1.2) 8177 8200 28.6 17.5 12.5 2.3 2.1 13.4% 16.7% TLKM BUY 480,816 7.5 4770 (0.2) 20.4 5051 5000 4.8 19.9 15.4 4.8 4.1 24.0% 26.7% TOWR BUY 46,321 0.7 4540 (0.2) 26.8 4653 4500-0.9 13.2 12.4 3.2 2.6 24.5% 20.7% Average 37.4 26.4 3.0 2.6 15.9% 16.7% Auto and HE ASII BUY 323,868 5.1 8000 0.3 (3.3) 9059 9000 12.5 13.9 12.3 2.6 2.0 18.6% 16.6% UNTR BUY 113,210 1.8 30350 (0.4) 42.8 32837 31500 3.8 17.4 15.4 2.6 2.3 14.7% 14.9% Average 15.7 13.8 2.6 2.2 16.6% 15.7% Aviation GIAA HOLD 8,594 0.1 332 (1.2) (1.8) 363 420 26.5 249.4 24.9 0.6 0.4 0.2% 1.7% Property BSDE BUY 35,221 0.6 1830 0.5 4.3 2293 2350 28.4 16.3 14.1 1.4 1.2 8.7% 8.5% PWON BUY 32,989 0.5 690 3.0 21.2 726 710 2.9 16.8 14.1 3.2 2.7 19.2% 19.3% ASRI BUY 7,152 0.1 364 0.6 3.4 426 390 7.1 13.5 13.0 0.9 0.9 6.7% 6.6% SMRA HOLD 15,869 0.2 1100 2.3 (17.0) 1336 1307 18.8 48.7 36.4 2.0 2.1 4.1% 5.7% SSIA BUY 3,129 0.0 665 0.0 53.2 874 750 12.8 14.8 12.3 1.0 0.9 6.6% 7.5% CTRA BUY 22,551 0.4 1215 2.1 (9.0) 1560 1580 30.0 17.9 15.6 1.5 1.5 8.7% 9.4% DMAS BUY 9,832 0.2 204 1.0 (11.3) 294 300 47.1 11.5 9.3 1.1 1.0 9.7% 10.8% KIJA BUY 6,456 0.1 310 (0.6) 7.0 413 450 45.2 13.5 11.9 1.0 1.0 7.8% 8.1% Average 19.1 15.8 1.5 1.4 8.9% 9.5% www.samuel.co.id Page 4 of 7
Construction PTPP BUY 17,360 0.3 2800 0.4 (26.5) 4374 4150 48.2 12.4 10.5 1.5 1.3 11.8% 12.6% ADHI HOLD 7,229 0.1 2030 (1.0) (2.4) 2642 2550 25.6 21.8 18.3 1.3 1.3 6.0% 7.1% WSKT BUY 30,541 0.5 2250 (0.4) (11.8) 3112 3250 44.4 13.5 10.7 1.5 1.4 11.2% 13.6% WIKA BUY 17,850 0.3 1990 0.0 (15.7) 2912 3000 50.8 16.0 14.0 1.3 1.2 8.0% 8.3% Average 15.9 13.4 1.4 1.3 9.3% 10.4% Cement INTP SELL 71,968 1.1 19550 (0.8) 26.9 16336 13500-30.9 19.8 18.6 2.5 2.3 12.9% 12.6% SMGR HOLD 62,726 1.0 10575 (1.6) 15.3 10425 9000-14.9 15.5 14.0 2.0 1.8 12.9% 12.9% SMCB SELL 6,092 0.1 795 0.0 (11.7) 713 700-11.9-33.1-26.5 0.7 0.7-2.3% -2.8% SMBR HOLD 29,306 0.5 2960 0.0 6.1 559 2300-22.3 77.9 74.0 7.8 6.9 10.0% 9.3% Average 20.0 20.0 3.3 2.9 8.4% 8.0% Precast WSBP BUY 12,284 0.2 452 0.4 (16.0) 673 690 52.7 11.6 9.0 1.4 1.2 12.3% 13.6% WTON BUY 5,055 0.1 580 0.9 (29.7) 969 1150 98.3 15.3 13.2 1.7 1.4 10.9% 10.6% Average 13.4 11.1 1.5 1.3 11.6% 12.1% Oil and Gas PGAS HOLD 52,362 0.8 2160 (0.9) (20.0) 2554 2600 20.4 11.9 9.6 1.1 1.0 9.4% 10.7% AKRA BUY 26,501 0.4 6625 0.38 10.4 7000 7600 14.7 22.6 22.4 3.4 3.1 15.2% 14.0% TPIA BUY 76,286 1.3 22800-0.3 12.5 28124 29000 27.2 18.6 17.1 3.2 2.9 17.1% 16.8% MEDC BUY 9,997 0.2 3000 0.0 127.3 4117 4500 50.0 4.2 3.9 0.7 0.6 17.6% 16.3% Average 14.3 13.3 2.1 1.9 15% 14% Utilities JSMR HOLD 40,463 0.6 5575 0.0 29.1 6027 5100-8.5 20.8 21.0 2.7 2.5 12.9% 11.7% Metal ANTM BUY 17,302 0.3 720 (2.7) (19.6) 685 1250 73.6 8.4 4.5 0.8 0.8 10.0% 17.8% INCO HOLD 28,716 0.4 2890 (1.0) 2.5 2695 2145-25.8 108.8 54.4 1.2 1.1 1.1% 2.1% TINS BUY 6,777 0.1 910 (0.5) (15.3) 985 1200 31.9 43.3 26.8 1.3 1.2 2.9% 4.5% Average 53.5 28.6 1.1 1.1 4.7% 8.1% Coal DOID BUY 8,549 0.1 1005.0-1.0 97.1 1612.5 1600 59.2 12.6 7.1 3.6 2.4 28.6% 33.1% ITMG BUY 22,627 0.4 20025 (1.0) 18.7 22928 22300 11.4 9.4 9.4 1.7 1.6 17.9% 16.6% ADRO BUY 62,213 1.0 1945 (1.0) 14.7 2080 2100 8.0 14.7 13.4 1.2 1.2 8.5% 8.7% PTBA BUY 30,184 0.5 13100 (0.8) 4.8 15477 15000 14.5 13.5 11.0 2.7 2.4 19.9% 21.5% Average 12.6 10.2 2.3 1.9 18.7% 20.0% Plantation AALI BUY 29,400 0.5 15275 1.8 (8.9) 17936 19800 29.6 16.7 14.0 1.8 1.7 10.7% 12.1% LSIP BUY 9,416 0.1 1380 0.4 (20.7) 1694 2050 48.6 12.4 9.7 1.1 1.1 9.1% 10.9% SIMP HOLD 7,987 0.1 505 0.0 2.2 568 600 18.8 10.7 9.9 0.5 0.5 5.0% 5.2% Average 13.3 11.2 1.2 1.1 8.3% 9.4% Source: SSI Research, Bloomberg Note: GIAA, PGAS, ITMG, ADRO, MEDC, INCO, DOID, TPIA report in USD. www.samuel.co.id Page 5 of 7
Regional Indices 1D Change Price Points 1D 3D 1W 1M 3M YTD 1YR High Low World 4.91 1,945 0.25 0.12 0.64 (0.80) 1.69 11.04 12.66 1,975 1,657 U.S. (S&P) 4.08 2,443 0.17 (0.39) 0.72 (1.18) 1.13 9.12 12.63 2,491 2,084 U.S. (DOW) 30.27 21,814 0.14 (0.39) 0.64 (0.08) 3.48 10.38 18.58 22,179 17,884 Europe (6.18) 3,439 (0.18) (0.49) (0.22) (0.84) (3.92) 4.50 14.22 3,667 2,923 Emerging Market 2.92 1,085 0.27 0.91 2.04 2.11 6.72 25.87 20.41 1,089 837 FTSE 100 (5.60) 7,401 (0.08) 0.27 1.06 0.45 (1.94) 3.62 n/a 7,599 6,654 CAC 40 (8.80) 5,104 (0.17) (0.54) (0.19) (0.53) (4.35) 4.98 14.91 5,442 4,311 Dax (12.89) 12,168 (0.11) (0.50) 0.02 0.04 (3.45) 5.98 14.92 12,952 10,175 Indonesia 21.25 5,915 0.36 0.60 0.37 1.45 3.47 11.68 8.76 5,917 5,023 Japan 10.69 19,463 0.05 0.15 0.36 (2.49) (1.14) 1.83 18.96 20,318 16,112 Australia (39.66) 5,704 (0.69) (0.57) (0.38) 0.02 (0.83) 0.68 3.42 5,957 5,052 Korea (9.69) 2,369 (0.41) 0.10 0.59 (1.34) 0.57 16.89 16.26 2,453 1,931 Singapore (12.59) 3,260 (0.38) (0.13) 0.23 (2.14) 1.25 13.15 14.06 3,355 2,761 Malaysia (6.33) 1,769 (0.36) (0.28) (0.40) 0.12 (0.18) 7.76 5.11 1,797 1,614 Hong Kong 329.56 27,848 1.20 2.55 1.84 3.22 8.62 26.58 21.56 27,878 21,489 China 60.01 3,332 1.83 1.26 1.92 2.41 7.12 7.34 8.51 3,332 2,969 Taiwan 26.55 10,516 0.25 1.19 1.88 0.89 4.09 13.64 15.15 10,619 8,880 Thailand (0.11) 1,576 (0.01) 0.17 0.59 (0.33) 0.42 2.13 1.71 1,601 1,343 Philipines 10.21 8,015 0.13 (0.01) (0.71) (0.70) 1.88 17.17 2.16 8,107 6,499 Monetary Indicators 1D Change Price Points 1W 1M 3M YTD 1YR High Low JIBOR Overnight (%) (0.01) 4.10 (4.69) (9.54) (15.38) (3.12) (15.63) 5.39 4.10 Foreign Reserve (US$bn) n/a 127.76 n/a 3.79 3.66 9.79 14.68 127.76 111.47 Inflation Rate (%) n/a 0.22 n/a (68.12) 144.44 (47.62) (68.12) 0.97 (0.02) US Fed Rate (%) 0.00 1.25 0.00 0.00 25.00 66.67 150.00 1.25 0.50 Indo Govt Bond Yld (10yr) - % (0.06) 6.81 (1.22) (1.89) (2.06) (14.62) (3.67) 8.36 6.77 Exchange Rate (per US$) 1D Change Price Currency Points 1D 3D 1W 1M 3M YTD 1YR High Low Indonesia (1.00) 13346 0.01 (0.02) 0.12 (0.15) 0.95 0.95 (0.79) 13,593 12,920 Japan (0.21) 109.15 0.19 (0.10) (0.16) 1.40 7.16 7.16 (6.62) 118.66 100.09 UK 0.00 1.29 0.10 0.74 (0.04) (1.83) 4.50 4.50 (1.61) 1.34 1.18 Euro 0.00 1.19 0.03 1.02 0.95 1.50 13.41 13.41 6.60 1.20 1.03 China (0.02) 6.65 0.23 0.24 0.36 1.57 4.49 4.49 0.20 6.96 6.65 Commodities Indicators 1D Change Price Spot Points 1D 3D 1W 1M 3M YTD 1YR High Low Oil (0.22) 47.65 (0.46) (1.57) 0.59 (4.14) (4.32) (11.30) 0.02 55.24 42.05 CPO (27.00) 2,750.00 (0.97) 0.47 2.57 4.72 5.49 (11.55) 7.38 3,202.00 2,390.00 Rubber 5.00 831.00 0.61 0.30 0.00 1.40 (12.43) (14.99) 28.64 1,174.00 645.00 Coal (0.50) 97.50 (0.51) (0.41) (0.36) 13.64 31.76 2.96 47.06 112.25 69.00 Iron Ore 2.08 78.90 2.71 (2.48) 0.65 18.22 34.96 1.08 32.38 94.91 54.24 Tin (160.00) 20,455.00 (0.78) (0.17) 0.44 (0.22) (0.37) (3.54) 9.04 21,945.00 18,750.00 Nickel (260.00) 11,485.00 (2.21) 0.61 4.60 14.79 27.05 14.62 16.66 12,145.00 8,680.00 Copper (22.00) 6,666.00 (0.33) 1.31 2.78 7.08 16.46 20.42 44.10 6,747.00 4,582.00 Gold (0.10) 1,292.50 (0.01) 0.27 0.08 1.90 1.92 12.39 (2.19) 1,353.80 1,124.70 Source: SSI Research, Bloomberg www.samuel.co.id Page 6 of 7
Research Team Andy Ferdinand, CFA Head Of Equity Research, Strategy, Banking, Consumer andy.ferdinand@samuel.co.id +6221 2854 8148 Muhamad Makky Dandytra, CFTe Technical Analyst makky.dandytra@samuel.co.id +6221 2854 8382 Akhmad Nurcahyadi, CSA Arandi Ariantara Auto, Aviation, Cigarette, Construction Healthcare, Heavy Equipment, Property Cement, Telecommunication, Toll Road, Oil and Gas akhmad.nurcahyadi@samuel.co.id +6221 2854 8144 arandi.ariantara@samuel.co.id +6221 2854 8392 Marlene Tanumihardja Poultry, Retail, Small Caps marlene@samuel.co.id +6221 2854 8387 Sharlita Lutfiah Malik Mining, Plantation sharlita.malik@samuel.co.id +6221 2854 8339 Nadya Swastika Research Associate nadya.swastika@samuel.co.id +6221 2854 8338 Private Wealth Management Evelyn Satyono Head of PWM / Institutional Sales evelyn.satyono@samuel.co.id +6221 2854 8380 Muhamad Alfatih CSA, CTA, CFTe Senior Technical Portfolio Advisor m.alfatih@samuel.co.id +6221 2854 8129 Ronny Ardianto Institutional Equity Sales ronny.ardianto@samuel.co.id +6221 2854 8399 Clarice Wijana Institutional Equity Sales clarice.wijana@samuel.co.id +6221 2854 8395 Fachruly Fiater Institutional Equity Sales fachruly.fiater@samuel.co.id +6221 2854 8325 Equity Sales Team Kelvin Long Head of Equities kelvin.long@samuel.co.id +6221 2854 8150 Yulianah Institutional Equity Sales yulianah@samuel.co.id +6221 2854 8146 Lucia Irawati Retail Equity Sales lucia.irawati@samuel.co.id +6221 2854 8173 Online Trading Sales Team Nugroho Nuswantoro Head of Marketing Online Trading nugroho.nuswantoro@samuel.co.id +6221 2854 8372 Wahyu Widodo Marketing wahyu.widodo@samuel.co.id +6221 2854 8371 Aben Epapras Marketing aben.epapras@samuel.co.id +6221 2854 8389 DISCLAIMERS : Analyst Certification : The v iews expressed in this research accurately ref lect 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 v iews in this 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 f or information only and f or the use of the recipient. It is not to be reprod uced 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 f or all investors. Moreover, although the inf ormation contained herein has been obtained from sources believed to be reliable, its accuracy, completeness and reliability cannot be guaranteed. All rights reserv ed by PT Samuel Sekuritas Indonesia www.samuel.co.id Page 7 of 7