Menanti Rilis data PMI dan Inflasi

(1)

www.samuel.co.id 1

DAILY RESEARCH

Market

: 6,241.8

: -47.8 -0.76%

: 23,186 Mn shrs : 20,298 Bn rupiah

Last

Close +/- %

BRIS 2,940 -20 -0.7

BANK 2,040 -150 -6.8

UNTR 22,550 -1100 -4.7

BNII 390 -18 -4.4

BMRI 6,150 -125 -2.0

UNVR 7,000 225 3.3

BBCA 33,550 25 0.1

ASII 5,400 -175 -3.1

Foreign Net Buy / Sell (Regular Market) Net Buy (IDR bn) Net Sell (IDR bn)

ANTM 397 ASII 436

TLKM 289 ACES 217

BBRI 129 BMRI 152

BBCA 82 BBNI 59

BBTN 40 UNTR 42 Money Market

Last

Close +/- %

USD/IDR 14,235 152.0 -1.1

JIBOR O/N 5.9 0.0

Dual Listing Securities Last

Close +/- %

TLKM 24.0 -0.1 -0.6

EIDO 22.9 0.0 0.1

Global Indices Last

Close +/- %

DJIA 30,932 -470 -1.5

S&P 500 3,811 -18 -0.5

Euro Stoxx 3,636 -49 -1.3

MSCI World 2,727 -33 -1.2

STI 2,949 -25 -0.8

Nikkei 29,677 711 2.5

Hang Seng 28,980 -1,094 -3.6

Commodities Last

Close +/- %

Brent Oil 66 1.1 1.7

Coal (ICE) 81 1.5 1.9

CPO Malay 3,601 -39.0 -1.1

Nickel 18,557 -626.5 -3.3

Tin 26,539 -2,066.0 -7.2

Market Value Market Activity Friday, 26 Feb 2021 Market Index Index Movement Market Volume

Changes Changes

Leading Movers

Lagging Movers

Changes

Menanti Rilis data PMI dan Inflasi

Pasar AS pada hari Jumat lalu bergerak mixed, namun cenderung terkoreksi, dengan penurunan -1.5% pada index Dow Jones, penurunan -0.47% pada index S&P500 namun Nasdaq menguat +0.56%. Sentimen dari AS yang masih menjadi perhatian investor global adalah kenaikan yield US 10Y yang saat ini berada di level 1.4% dan dalam kenaikannya pekan lalu sempat berada di level 1.5%. Di sisi lain, rancangan undang- undang paket stimulus fiskal AS senilai USD 1.9 triliun kabaranya sudah diloloskan oleh DPR AS dan saat ini diserahkan ke Senat.

Dari pasar komoditas pun terjadi koreksi. Pada Jumat lalu, harga minyak WTI turun - 3.2% ke level USD 61.5/Bbl, Brent turun -2.5% ke level USD 64,2/Bbl, harga nikel turun -3.3% pada level USD 18,532, CPO -1.1% ke level MYR 3,742/ton. Harga emas pun terlihat masih melemah, berada di level USD 1,734/t.oz atau turun -2.36%.

Dari dalam negeri, kasus harian Covid-19 masih terlihat semakin menurun, dengan penambahan 5,560 kasus baru pada hari Minggu (Sabtu: 6,208 kasus) dan 26.2%

positive rate (Sabtu: 19.8%). Saat ini akumulasi kasus covid-19 berjumlah 1,334,634 kasus, dengan pasien sembuh sebanyak 1,142,703 pasien (85.6% recovery rate). Dari progress vaksin, tercatat saat ini telah disuntikkan sebanyak 1.7 juta dosis vaksin atau baru 0.9% dari total target vaksinasi.

Pekan lalu IHSG bergerak naik +0.16% selama sepekan namun terjadi koreksi -0.76%

pada Jumat lalu. Pekan lalu terjadi net sell asing sebesar IDR -70.6 miliar selama sepekan namun pada Jumat lalu terjadi net buy sebesar IDR 1.2 triliun. Pada hari ini akan ada rilis data Markit manufacturing PMI Indonesia (prev: 52.2), dan Inflasi (Prev:

+1.55% yoy, +1.26% mom, cons: 1.38% yoy, 0.09% mom).

Pagi ini pasar regional dibuka menguat dengan Nikkei +2.15% . Untuk IHSG kami perkirakan untuk rebound mengikuti sentimen regional.

DAILY RESEARCH

 WIKA: Obligasi dan Sukuk WIKA Kembali Diserbu Investor

 SMGR: Tekan beban, Laba Bersih FY20 naik +16% yoy Highlights

1 March 2021

(2)

Equity Research│1 March 2021

COVID-19 Data

Indonesia

7 Day Running Covid-19 Data

Total 1D Change Daily 1D Change Total Daily Total Daily Total Closed Cases

Cases % Cases % Recovered Recovered Deaths Deaths Active Cases %

2/25/2021 1,314,634 0.65 8,493 12.74 1,121,411 8,686 35,518 264 157,705 88.00 2/24/2021 1,306,141 0.58 7,533 (22.94) 1,112,725 7,735 35,254 240 158,162 87.89 2/23/2021 1,298,608 0.76 9,775 (3.98) 1,104,990 7,996 35,014 323 158,604 87.79 2/22/2021 1,288,833 0.80 10,180 39.45 1,096,994 9,918 34,691 202 157,148 87.81 2/21/2021 1,278,653 0.57 7,300 (9.36) 1,087,076 8,236 34,489 173 157,088 87.71 2/20/2021 1,271,353 0.64 8,054 (24.12) 1,078,840 9,835 34,316 164 158,197 87.56 2/19/2021 1,263,299 0.85 10,614 17.42 1,069,005 10,783 34,152 183 160,142 87.32

Average 8,850 9,027 221 87.73

Source: SSI Research, Bloomberg

COMMODITIES

Gold: Gold 100 Oz Futures (USD/Troi oz) Oil: Generic 1st Crude Oil, Brent (USD/Barel)

Coal: Newcastle Coal (USD/MT) CPO: Bursa Malaysia Crude Palm Oil (MYR/MT)

Pulp: Generic Bleached Softwood Craft Pulp (CNY/MT) Nickel: London Metal Exchange Nickel Future (USD/MT)

24-Feb-20 24-Mar-20 24-Apr-20 24-May-20 24-Jun-20 24-Jul-20 24-Aug-20 24-Sep-20 24-Oct-20 24-Nov-20 24-Dec-20 24-Jan-21 24-Feb-21

0 10 20 30 40 50 60 70 80

40 50 60 70 80 90 100

1,500 2,000 2,500 3,000 3,500 4,000 4,500

0 0 0 0 20 0 0 0 20 0 0 1 1

4,000 4,500 5,000 5,500 6,000 6,500 7,000 7,500

-20 -20 -20 -20 -20 -20 -20 -20 t-20 -20 -20 -21 -21

10,000 12,000 14,000 16,000 18,000 20,000 22,000

1,400 1,500 1,600 1,700 1,800 1,900 2,000 2,100 2,200

(3)

ASII: Kinerja FY20 Pendapatan -26% yoy, Laba Bersih -25.5% yoy

PT Astra International Tbk (ASII) membukukan kinerja FY20 pendapatan IDR 175 triliun (-26% yoy) dan laba bersih IDR 16.1 triliun (-25.5% yoy). Operating income sebesar FY20 IDR 12.9 triliun dengan margin 7.4% (- 360 bps yoy). Bila keuntungan penjualan Bank Permata dikeluarkan, ASII membukukan laba bersih senilai IDR 10.28 triliun (-53% yoy) dengan marjin laba bersih 5.9% (-330 bps yoy). (Laporan Keuangan)

Comment:

Stand alone 4Q20, ASII membukukan pendapatan IDR 44.7 triliun (-25.7% yoy dan +10.2% qoq) dengan laba bersih IDR 2.1 triliun (-63.6% yoy dan -20.1% qoq). Penurunan laba bersih 4Q20 diakibatkan kenaikan signifikan pada beberapa post beban, diantaranya beban penjualan (+19.3% yoy dan +6.6%

qoq) dan beban umum dan administrasi (+8.9% yoy dan +20.4%qoq). Kenaikan beban menekan margin laba 4Q20 menjadi 4.8% (-180 bps qoq). ASII: BUY: 11.3x PE '21E, 1.1x PBV '21E, TP: IDR 6,750

(4)

JCI Wgt Last price TP SSI TP Cons SSI Upside PE (x) PE (x) PBV (x) PBV (x) ROE (%) ROE (%)

(%) (IDR) (IDR) (IDR) (%) 20E 21E 20E 21E 20E 21E

Banks

BMRI BUY 4.2 6,375 8,000 8,018 25.5 17.4 12.5 1.6 1.5 9.1 12.1

BBCA BUY 11.8 33,625 40,500 37,753 20.4 30.6 26.1 4.5 4.1 14.7 15.7

BBRI BUY 8.3 4,730 5,300 5,077 12.1 30.1 17.8 3.1 2.8 10.3 15.8

BBNI BUY 1.6 6,075 8,500 7,354 39.9 38.0 8.8 1.0 0.8 2.6 9.7

BBTN HOLD 0.3 2,100 2,300 2,177 9.5 13.8 8.7 1.1 1.0 8.1 11.4

Average 26.0 14.8 2.3 2.0 9.0 12.9

Consumer (Staples)

ICBP BUY 1.4 8,650 12,000 11,998 38.7 17.6 15.7 3.4 3.0 19.6 19.1

INDF BUY 0.8 6,100 9,500 8,612 55.7 11.0 11.1 1.3 1.2 11.9 11.0

KLBF BUY 1.0 1,505 1,750 1,836 16.3 25.5 23.2 4.1 3.7 16.0 16.0

UNVR BUY 3.7 6,850 9,800 8,096 43.1 30.9 30.3 41.3 40.1 133.7 132.2

SIDO BUY 0.3 785 920 921 17.2 26.1 23.0 7.3 6.8 27.9 29.7

Average 22.2 20.6 11.5 11.0 41.8 41.6

Cigarette

HMSP HOLD 2.3 1,350 1,460 1,380 8.1 15.7 15.5 48.2 4.8 307.1 30.9

GGRM BUY 1.0 36,700 44,400 40,982 21.0 8.3 8.1 1.2 1.1 14.2 13.9

Average 12.0 11.8 24.7 3.0 160.7 22.4

Healthcare

MIKA HOLD 0.6 2,940 3,000 3,090 2.0 57.6 54.4 8.8 8.0 15.3 14.7

SILO HOLD 0.1 5,325 5,800 5,800 8.9 380.4 161.4 1.5 1.4 0.4 0.9

HEAL BUY 0.2 4,050 5,000 4,756 23.5 37.2 32.1 4.9 4.3 13.3 13.5

Average 158.4 82.7 5.1 4.6 9.6 9.7

Poultry

CPIN BUY 1.4 6,050 7,300 6,774 20.7 34.4 26.4 4.7 4.3 13.7 16.4

JPFA BUY 0.2 1,445 1,800 1,753 24.6 21.6 8.9 1.4 1.2 6.4 13.8

MAIN BUY 0.0 685 890 852 29.9 n/a 10.1 0.7 0.7 -0.9 6.8

Average 28.0 15.1 2.3 2.1 6.4 12.3

Retail

MAPI HOLD 0.2 815 850 952 4.3 n/a 81.5 1.5 8.8 -7.4 10.8

RALS BUY 0.1 745 900 801 20.8 n/a 15.9 1.2 1.2 -1.5 7.7

ACES BUY 0.4 1,630 1,900 1,824 16.6 34.7 25.5 5.6 5.0 16.1 19.6

LPPF SELL 0.0 1,295 1,100 1,080 -15.1 n/a 10.0 2.2 3.4 -35.0 34.1

Average 34.7 40.9 2.8 5.0 2.4 12.7

Pulp and Paper

INKP SELL 1.1 13,625 7,000 9,875 -48.6 15.7 18.8 1.2 1.1 7.6 6.0

Average 15.7 18.8 1.2 1.1 7.6

Media

MNCN BUY 0.2 1,060 1,400 1,521 32.1 6.5 5.9 1.0 0.8 14.9 14.3

SCMA SELL 0.4 1,955 1,750 2,269 -10.5 24.7 22.2 5.1 4.3 20.6 19.2

Average 15.6 14.0 3.0 2.6 17.7 16.8

Telco

EXCL BUY 0.3 2,160 3,300 3,409 52.8 9.9 21.8 1.1 1.1 11.0 4.8

ISAT SELL 0.4 5,650 3,100 5,544 -45.1 n/a 148.7 2.5 2.4 -3.2 1.6

TLKM BUY 4.9 3,480 4,300 4,179 23.6 15.6 14.9 2.8 2.7 17.8 17.8

Average 12.7 61.8 2.1 2.1 8.5 8.1

Telco Retail

ERAA SELL 0.1 2,700 1,625 2,483 -39.8 14.4 11.7 1.6 1.4 11.0 11.9

Telco Infra

TBIG SELL 0.7 2,120 1,550 2,034 -26.9 44.2 41.6 7.3 6.5 16.5 15.6

Stock Rec.

(5)

Auto

ASII BUY 3.3 5,625 6,750 6,789 20.0 12.6 11.4 1.1 1.1 9.0 9.6

Average 12.6 11.4 1.1 1.1 9.0

Mining Contracting

UNTR BUY 1.2 22,550 31,000 30,572 37.5 12.1 9.0 1.4 1.2 11.2 13.8

Average 12.1 9.0 1.4 1.2 11.2

Aviation

GIAA BUY 0.1 344 650 428 89.0 3.5 3.0 0.6 0.5 17.5 16.9

Average 3.5 3.0 0.6 0.5 17.5

Property

BSDE HOLD 0.4 1,200 1,250 1,444 4.2 20.7 16.7 0.7 0.7 3.5 4.1

PWON SELL 0.4 560 525 629 -6.3 43.1 24.3 1.1 1.1 2.6 4.4

ASRI SELL 0.1 240 130 238 -45.8 18.5 8.6 0.4 0.4 2.3 4.7

LPKR SELL 0.2 202 140 197 -30.7 n/a n/a 0.5 0.5 -0.5 -0.2

SMRA BUY 0.2 845 950 969 12.4 49.7 29.1 1.7 1.6 3.4 5.4

CTRA SELL 0.3 1,150 1,100 1,218 -4.3 27.4 21.3 1.4 1.3 5.1 6.2

Average 31.9 20.0 1.0 0.9 2.7 4.1

Industrial Estate

SSIA BUY 0.0 530 650 622 22.6 n/a 37.9 0.6 0.6 -1.6 1.6

DMAS HOLD 0.2 238 250 269 5.0 15.9 14.0 1.5 1.8 9.6 12.7

KIJA SELL 0.1 179 150 230 -16.2 16.3 13.8 0.7 0.5 4.0 3.4

Average 16.1 21.9 0.9 1.0 4.0 4.6

Construction

PTPP BUY 0.1 1,660 1,900 2,010 14.5 75.5 13.5 0.7 0.7 0.9 4.9

ADHI BUY 0.1 1,415 1,800 1,806 27.2 59.0 13.7 0.9 0.8 1.5 6.1

WSKT BUY 0.3 1,465 2,200 1,682 50.2 n/a 14.1 0.9 0.8 -15.2 5.6

WIKA BUY 0.2 1,795 2,400 2,217 33.7 18.7 12.2 0.9 0.9 5.0 7.1

Average 51.0 13.4 0.8 0.8 -1.9 5.9

Cement

INTP BUY 0.7 13,075 16,250 16,957 24.3 36.3 30.2 2.1 2.1 5.8 6.9

SMGR BUY 0.9 10,275 13,570 13,992 32.1 22.0 16.4 1.7 1.6 7.6 9.5

Average 29.2 23.3 1.9 1.8 6.7 8.2

Precast

WSBP SELL 0.1 264 230 276 -12.9 24.0 7.1 0.7 0.6 2.9 8.9

WTON BUY 0.0 354 450 496 27.1 32.2 9.6 0.9 0.8 2.9 8.9

Average 28.1 8.4 0.8 0.7 2.9 8.9

Oil and Gas

PGAS BUY 0.5 1,425 1,700 1,724 19.3 25.9 20.4 0.9 0.8 3.3 4.1

AKRA BUY 0.2 3,330 3,800 3,951 14.1 15.3 13.5 1.6 1.5 10.1 10.9

MEDC BUY 0.3 700 1,090 901 55.7 n/a 9.6 1.0 0.9 -9.9 9.7

Average 20.6 14.5 1.1 1.1 1.2 8.2

Chemical

TPIA HOLD 2.5 9,850 10,250 9,925 4.1 679.3 113.2 6.8 6.8 1.0 6.0

BRPT SELL 1.4 1,150 1,120 1,198 -2.6 240.3 146.9 6.1 6.1 2.5 4.2

ESSA HOLD 0.1 224 225 313 0.4 n/a n/a 1.5 0.8 -20.0 -0.5

Average 459.8 130.0 4.8 4.6 -5.5 3.2

Utilities

JSMR BUY 0.4 4,300 5,000 5,688 16.3 65.2 21.6 1.3 1.2 2.0 5.6

Metal

ANTM BUY 1.0 2,910 3,230 3,027 11.0 46.9 28.5 3.6 3.4 7.7 11.7

MDKA SELL 0.8 2,680 2,030 2,873 -24.3 n/a 14.6 9.7 10.6 15.7 72.9

INCO HOLD 0.9 6,300 6,730 6,511 6.8 43.4 43.4 2.2 2.2 5.0 5.0

TINS SELL 0.2 2,280 1,775 1,350 -22.1 n/a 2590.9 3.2 3.9 -4.2 0.1

Stock Rec.

(6)

Coal

ITMG BUY 0.2 12,125 13,550 15,174 11.8 8.4 8.4 1.2 1.4 14.3 16.7

ADRO BUY 0.5 1,185 1,530 1,677 29.1 8.2 8.2 0.7 0.7 8.5 8.8

PTBA HOLD 0.4 2,630 2,830 3,001 7.6 14.0 9.6 2.0 1.6 14.3 16.5

Average 10.2 8.7 1.3 1.2 12.4 14.0

Plantation

AALI BUY 0.3 11,325 13,800 14,913 21.9 32.6 20.6 1.1 1.1 3.5 5.3

LSIP HOLD 0.1 1,360 1,370 1,524 0.7 3.1 2.7 1.1 1.0 33.6 37.0

TBLA HOLD 0.1 960 980 1,135 2.1 7.9 6.4 0.9 0.8 11.0 12.2

SIMP SELL 0.1 444 388 472 -12.6 40.4 26.1 0.5 0.5 1.2 1.8

SSMS BUY 0.1 1,020 1,500 1,490 47.1 30.0 12.9 2.2 1.9 7.4 15.0

Average 22.8 13.8 1.2 1.1 11.3 14.3

Source: SSI Research, Bloomberg

Note: GIAA, INKP, PGAS, ITMG, ADRO, MEDC, BRPT, INCO, DOID, TPIA report in USD.

Stock Rec.

(7)

Chg (Pts)

1D 1D 1W 1M 3M YTD 1YR High Low

World 2,789 1.11 0.04 (0.95) 1.22 7.81 3.69 19.67 2,838 1,579

U.S. (S&P) 3,881 4.87 0.13 (1.30) 1.04 6.77 3.34 20.32 3,950 2,192

U.S. (DOW) 31,537 15.66 0.05 0.05 1.74 4.96 3.04 12.79 31,653 18,214

Europe 3,688 (0.72) (0.02) (0.31) 2.39 5.14 3.82 1.11 3,762 2,303

Emerging Market 1,398 0.54 0.04 (3.23) 0.38 14.05 8.28 32.49 1,449 752

FTSE 100 6,577 (49.34) (0.74) (2.00) (1.77) 2.25 1.80 (8.11) 7,404 4,899

CAC 40 5,773 (6.52) (0.11) 0.13 3.84 3.87 4.00 (0.32) 5,885 3,632

Dax 13,916 51.44 0.37 0.05 0.30 4.69 1.44 6.76 14,169 8,256

Indonesia 6,251 (21.75) (0.35) 0.37 (0.89) 9.65 4.55 7.65 6,505 3,912

Japan 29,672 (484.33) (1.61) (2.61) 3.63 16.23 8.12 26.87 30,715 16,358

Australia 6,778 (61.35) (0.90) (1.56) (0.33) 2.01 2.90 (2.87) 7,139 4,403

Korea 2,995 (75.11) (2.45) (4.43) (4.64) 14.41 4.23 44.06 3,266 1,439

Singapore 2,929 38.16 1.32 0.29 (2.09) 1.29 2.99 (6.79) 3,172 2,208

Malaysia 1,558 (7.50) (0.48) (2.37) (2.45) (1.32) (4.28) 4.53 1,696 1,208

Hong Kong 29,718 (914.40) (2.99) (4.40) 0.92 11.77 9.13 10.80 31,183 21,139

China 3,564 (72.28) (1.99) (2.49) (1.18) 4.74 2.62 17.58 3,732 2,647

Taiwan 16,213 (230.87) (1.40) (0.92) 1.21 17.42 10.05 40.55 16,579 8,524

Thailand 1,494 (6.13) (0.41) (1.35) (0.23) 6.62 3.11 4.10 1,562 969

Philipines 6,756 (58.72) (0.86) (3.02) (4.11) (4.96) (5.38) (6.00) 7,432 4,039

Foreign Reserves (US$Bn) 138.00 1.55 3.25 1.55 4.78 138.00 120.97

Inflation Rate (yoy, %) 1.55 2.98 1.32

Gov Bond Yld (10yr, %) 6.45 (1.62) 8.38 5.86

US Fed Rate (%) 0.25 1.75 0.25

Chg (Pts)

Indonesia 14,085 (8.00) 0.06 (0.46) (0.44) 0.50 (0.25) (1.51) 16,625 13,865

Japan 105.66 0.41 (0.39) 0.20 (1.81) (1.15) (2.28) 4.79 111.71 101.19

UK 1.42 0.01 0.43 2.29 3.65 6.12 3.69 9.67 1.42 1.14

Euro 1.22 0.00 0.12 1.06 0.21 2.30 (0.42) 12.08 1.23 1.06

China 6.45 (0.02) 0.25 0.12 0.46 2.18 1.19 8.99 7.18 6.42

Chg (Pts)

Oil (Brent) 65.34 (0.03) (0.05) 1.55 17.92 36.52 26.14 16.06 66.79 15.98

CPO 3,623 (53.00) (1.44) (0.25) 10.39 11.51 0.64 42.47 3,751 1,944

Rubber 1,079.00 14.00 1.31 11.35 18.57 10.38 15.09 38.16 1,262.50 685.00

Coal 76.75 (1.95) (2.48) (6.69) (11.63) 14.38 (4.66) 15.24 92.00 47.50

Tin 28,270 (785.00) (2.70) 4.20 26.32 51.54 37.60 70.02 30,500 13,375

Nickel 19,352 (141.00) (0.72) 2.86 5.93 21.44 16.49 54.45 20,110 10,865

Copper 9,207 109.50 1.20 9.53 15.12 28.27 18.55 59.70 9,305 4,371

Gold 1,805 0.50 0.03 1.89 (2.74) 0.04 (4.64) 7.88 2,074 1,451

Source: Bloomberg, SSI Research

Change (%) 1 Year

Commodity Indicators Last Price Regional Indices Last Price

Exchange Rate (per USD) Last Price

(8)

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

Research Team

Suria Dharma Head of Equity Research, Strategy, Banking,

Consumer Staples [email protected] +6221 2854 8148

Ahmad Mikail Zaini Economist [email protected] +6221 2854 8396

William Mamudi, CFTe, CMT Technical Analyst [email protected] +6221 2854 8382 Muhamad Alfatih CSA, CTA, CFTe Senior Technical Portfolio Advisor [email protected] +6221 2854 8129 Yosua Zisokhi Cement , Cigarette,Paper, Plantation,Telco

Infra, Chemical [email protected] +6221 2854 8387

Dessy Lapagu Aviation, Coal, Metal, Retail [email protected] +6221 2854 8392 Selvi Ocktaviani Automotive,Construction, Mining Cont.,

Precast,Telco, Toll Roads [email protected] +6221 2854 8393 Ilham Akbar Ind. Estate, Property,Oil & Gas [email protected] +6221 2854 8144

Nashrullah Putra Media, Poultry [email protected] +6221 2854 8739

Olivia Laura Healthcare [email protected] +6221 2854 8144

Calista Muskitta Research Associate [email protected] +6221 2854 8331

Equity Institutional Team

Benny Bambang Soebagjo Head of Institutional Equity Sales [email protected] +6221 2854 8312 Ronny Ardianto Institutional Equity Sales [email protected] +6221 2854 8399 Fachruly Fiater Institutional Equity Sales [email protected] +6221 2854 8325 Henry Sutanto Institutional Equity Sales [email protected] +6221 2854 8329

Sylviawati Customer Service [email protected] +6221 2854 8193

Private Wealth Management

Evelyn Satyono Head of PWM Equity Sales [email protected] +6221 2854 8380

Clarice Wijana PWM Equity Sales [email protected] +6221 2854 8395

Gitta Wahyu Retnani PWM Equity Sales [email protected] +6221 2854 8365

Wahyudi Budiyono Dealer [email protected] +6221 2854 8152

Equity Retail Team

Kelvin Long Head of Retail Equity Sales [email protected] +6221 2854 8150

Lucia Irawati Retail Equity Sales [email protected] +6221 2854 8173

Salt World Widjaja Retail Equity Sales [email protected] +6221 2854 8163

Fixed Income Sales Team

R. Virine Tresna Sundari Head of Fixed Income [email protected] +6221 2854 8170

Rudianto Nugroho Fixed Income Sales [email protected] +6221 2854 8306

Sany Rizal Keliobas Fixed Income Sales [email protected] +6221 2854 8337

Rahmawati Fixed Income Sales [email protected] +6221 2854 8385

Online Trading Sales Team

Joseph Soegandhi Head of OLT [email protected] +6221 2854 8872

Nugroho Nuswantoro Head of Marketing Online Trading [email protected] +6221 2854 8372

Wahyu Widodo Marketing [email protected] +6221 2854 8371