DAILY
RESEAR
CH
Market
Market Activity Market Index : 6,108.3 Index Movement : +47.5 0.78% Market Volume : 19,849 Mn shrs Market Value : 10,581 Bn rupiahLast Close +/- % Leading Movers ARTO 16,300 600 3.8 BBCA 32,775 325 1.0 UNVR 4,040 200 5.2 BBRI 3,610 40 1.1 Lagging Movers EMTK 1,935 -45 -2.3 TPIA 7,250 -125 -1.7 DCII 45,075 -625 -1.4 DMMX 2,800 -160 -5.4
Foreign Net Buy / Sell (Regular Market) Net Buy (IDR bn) Net Sell (IDR bn)
BBRI 253 BMRI 43 BBCA 188 EXCL 41 TLKM 114 ITMG 32 TBIG 47 BABP 26 ARTO 40 AGRO 17 Money Market Last Close +/- % USD/IDR 14,243 5.0 0.0 JIBOR O/N 5.9 0.0
Dual Listing Securities Last Close +/- % TLKM 25.1 0.5 1.9 EIDO 21.4 0.4 2.0 Global Indices Last Close +/- % DJIA 34,258 338 1.00 S&P 500 4,396 41 0.95 Euro Stoxx 4,150 53 1.29 MSCI World 3,074 25 0.81 STI 3,048 -15 -0.49 Nikkei 29,639 -200 -0.67 Hang Seng 24,221 closed closed Commodities* Last Close +/- % Brent Oil 76.2 1.8 2.46 Coal (ICE) 182.8 4.4 2.50 CPO Malay 4,330 138.0 3.29 Gold 1,768 -6.3 -0.36 Nickel 19,236 399.0 2.12 Tin 33,820 1,177.0 3.48 Changes Changes Changes Changes Changes Wednesday, 22 Sep 2021
IHSG Diperkirakan Menguat dengan Dorongan
Sentimen Global
Pada penutupan perdagangan semalam, pasar AS bergerak naik. Indeks Dow Jones
naik +1.1%, S&P 500 menguat +0.97%, dan Nasdaq +0.95%, pasca pengumuman
hasil rapat The Fed. Pimpinan The Fed Jerome Powell mengumumkan bahwa bank
sentral AS tersebut akan mulai mengurangi program pembelian surat utangnya
mulai bulan November, hingga pertengahan tahun 2022. Disamping itu, pasar
masih mengamati perkembangan kasus Evergrande setelah perusahaan properti
tersebut setuju untuk melakukan pembayaran domestic bond, serta aksi bank
sentral China yang telah menginjeksi dana ke dalam sistem perbankan Cina untuk
menjaga likuiditas pasar. Yield UST 10Y naik ke level 1.3%, begitu juga dengan USD
index yang naik +0.3% ke level 93.43.
Dari pasar komoditas, harga minyak Brent menguat +2.11% ke level USD 75.9/bbl.
Harga batubara naik +0.28% ke level USD 180.0/ton, nikel -1.24% ke level USD
18,838/Ton, dan CPO naik +3.87% ke level MYR 4,330/ton. Sementara itu, harga
emas terpantau melemah -0.32% ke level USD 1,768/toz).
Indeks EIDO ditutup menguat +1.96%, sementara IHSG ditutup +0.8% pada
perdagangan kemarin ke level 6,108, dengan net buy asing sebesar IDR 462.6
miliar. Angka net buy asing tertinggi dicatatkan oleh BBRI (IDR 252.9 miliar), BBCA
(IDR 183.3 miliar), dan TLKM (IDR 113.5 miliar). Sementara itu, angka net sell asing
tertinggi di pasar regular dicatatkan oleh BMRI (IDR 43.0 miliar), EXCL (IDR 41.1
miliar), dan ITMG (IDR 31.6 miliar). Top leading movers adalah ARTO, BBCA, dan
UNVR sedangkan EMTK, TPIA, dan DCII menjadi top lagging movers.
Kasus harian COVID-19 masih terus melanjutkan tren penurunannya. Terjadi
penambahan 2,720 kasus baru COVID-19 pada hari Rabu (Selasa: 3,263 kasus)
dengan positive rate sebesar 1.5%. Sejauh ini, telah ditemukan sebanyak 4.2 juta
kasus COVID-19 di Indonesia, dengan 4.0 juta pasien sembuh (recovery rate:
95.4%, kasus aktif: 49 ribu ). Terkait vaksinasi, sejauh ini 82.1 juta orang di
Indonesia telah menerima dosis pertama vaksin COVID-19 (+1.7 juta pada hari
Rabu) dan 46.4 juta telah menerima dosis kedua (+643 ribu pada Rabu),
merefleksikan 39.4% dari total target.
Seiring dengan sentimen positif yang datang dari kelanjutan kasus Evergrande
serta pergerakan pasar AS yang menguat semalam, kami memperkirakan IHSG
DAILY RESEARCH
WIKA
:
Ikuti Tender senilai IDR 25 Triliun
WSKT
:
RUPSLB Setujui Right Issue
MPPA :
Laporan Keuangan 1H21
23 September 2021
Equity Research│23 September 2021
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)
22 -S ep -2 0 22 -O ct-20 22 -N ov -2 0 22 -D ec -2 0 22 -J an -2 1 22 -F eb -2 1 22 -M ar -2 1 22 -A pr -2 1 22 -M ay -2 1 22 -J un -2 1 22 -J ul -2 1 22 -A ug -2 1 0 10 20 30 40 50 60 70 80 90 22 -S ep -2 0 22 -Oc t-20 22 -N ov -2 0 22 -D ec -2 0 22 -J an -2 1 22 -F eb -2 1 22 -M ar -2 1 22 -A pr -2 1 22 -M ay -2 1 22 -J un -2 1 22 -J ul -2 1 22 -Au g-21 40 60 80 100 120 140 160 180 200 22 -S ep -2 0 22 -O ct-20 22 -N ov -2 0 22 -D ec -2 0 22 -J an -2 1 22 -F eb -2 1 22 -M ar -2 1 22 -Ap r-21 22 -M ay -2 1 22 -J un -2 1 22 -J ul -2 1 22 -Au g-21 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 4,500 5,000 5,500 6,000 6,500 7,000 7,500 8,000 12,000 14,000 16,000 18,000 20,000 22,000 22 -S ep -2 0 22 -O ct-20 22 -N ov -2 0 22 -D ec -2 0 22 -J an -2 1 22 -F eb -2 1 22 -M ar -2 1 22 -Ap r-21 22 -M ay -2 1 22 -J un -2 1 22 -J ul -2 1 22 -A ug -2 1 1,400 1,500 1,600 1,700 1,800 1,900 2,000 2,100
COVID-19 Data
Indonesia
7 Day Running Covid-19 Data
Total
1D Change
Total
Dai l y
Total
Cl osed Cases
Cases
%
Deaths
Deaths
Acti ve Cases
%
9/22/2021
4,195,958
-
140,805
-
1,107,507
73.61
9/21/2021
4,195,958
0.08
140,805
171
1,107,507
73.61
9/20/2021
4,192,695
0.05
140,634
166
1,104,415
73.66
9/19/2021
4,190,763
0.05
140,468
145
1,102,649
73.69
9/18/2021
4,188,529
0.08
140,323
185
1,100,560
73.72
9/17/2021
4,185,144
0.09
140,138
219
1,097,360
73.78
9/16/2021
4,181,309
0.08
139,919
237
1,093,744
73.84
Average
160
73.70
Equity Research│23 September 2021
WIKA: Ikuti Tender senilai IDR 25 Triliun
Wijaya Karya (WIKA) saat ini sedang mengikuti beberapa tender yang nilainya mencapai IDR25T. Jika WIKA berhasil
mendapatkan seluruh kontrak tersebut, maka WIKA optimis untuk dapat mencapai target kontrak baru yang telah
direvisi sebesar IDR 35 T. (Bisnis Indonesia)
Comment:
Pengumuman pemenang tender secara historis banyak dilakukan di kuartal IV. Sampai dengan Agustus 2021,
WIKA telah meraih kontrak baru sebesar IDR 12.7 T. Adapun target kontrak baru sebelum direvisi sebesar IDR
40 T. Jika WIKA memenangi seluruh tender, maka Order Book di akhir tahun 2021 dapat mencapai ~IDR 105 T.
WIKA: Under review (Previous: WIKA: BUY: 7.4x PE '21E, 0.5x PBV '21E, TP: IDR 1,400)
WSKT: RUPSLB Setujui Right Issue
RUPSLB yang digelar pada 21 September 2021 telah menyetujui pelaksanaan right issue, dimana Waskita Karya (WSKT)
akan menerbitkan 24.56 miliar saham atau setara 64.4%. RUPSLB tersebut juga menyetujui pelaksanaan transformasi
bisnis guna mendukung pemulihan kinerja, perubahan modal dasar dan perubahan susunan pengurus. (Investor Daily)
Comment:
Pelaksanaan right issue akan dilaksanakan dalam 2 periode dimana periode pertama akan dilaksanakan di
4Q21 dan periode kedua pada 2022. WSKT akan menerima dana PMN sebesar IDR 7.9 T dan IDR 3 T di periode
right issue pertama dan kedua. Diperkirakan proses pemulihan keuangan WSKT akan selesai di tahun 2025.
Equity Research│23 September 2021
MPPA: Laporan Keuangan 1H21
PT Matahari Putra Prima Tbk (MPPA) mencetak pendapatan bersih 1H21 sebesar IDR 3.54 tn (1H20: IDR 3.67 tn; -3.4%
yoy) dan IDR 2.00 tn pada 2Q21 (+29.3% qoq; +16.2% yoy). Perusahaan mencatatkan pendapatan kotor 1H21 sebesar
IDR 627.8 bn (1H20: 728.0 bn; -13.8% yoy) dengan pendapatan kotor 2Q21 sebesar IDR 347.8 bn (+24.2% qoq; +4.0%
yoy). Rugi bersih 1H21 MPPA tercatat sebesar IDR -91.5 bn (1H20: -219.3bn), rugi bersih 2Q21 sebesar IDR -7.8 bn
(1Q21: IDR -83.7 bn). (Laporan Keuangan)
Comment:
Matahari Putra Prima mencetak gross profit margin untuk 1H21 sebesar 17.7% dan net margin -2.6%. Pada
2Q21 gross margin perusahaan sebesar 17.4% dan net margin sebesar -0.4%. Meski perusahaan mencetak rugi
bersih pada paruh pertama tahun ini, namun secara kuartalan perusahaan mengalami kerugian terkecil sejak
tahun 2019. Kenaikan pada bottom line perusahaan didukung oleh pemulihan relaksasi pembatasan sosial dan
peningkatan penjualan online yang saat ini mengkontribusikan 10.5%-11% dari topline perusahaan. Kami
memproyeksikan pendapatan MPPA akan terus naik seiring dengan kembalinya masyarakat dalam berbelanja
secara fisik dan dengan adanya partnership MPPA dengan GoTo yang dinilai dapat mendukung upaya
pengembangan e-groceries perusahaan. MPPA: non-coverage.
Equity Research│23 September 2021
Stock Rec. JCI Wgt Last price TP SSI TP Cons SSI Upside PE (x) PE (x) PBV (x) PBV (x) ROE (%) ROE (%)
(%) (IDR) (IDR) (IDR) (%) 20A 21E 20A 21E 20A 21E
Banks BBCA BUY 10.8 32,775 40,500 36,482 23.6 29.8 25.4 4.4 4.0 14.7 15.7 BBRI BUY 7.3 3,610 5,300 4,692 46.8 23.0 13.6 2.4 2.1 10.3 15.8 BMRI BUY 3.8 6,075 8,000 7,906 31.7 16.6 11.9 1.5 1.4 9.1 12.1 BBNI BUY 1.3 5,150 8,500 7,180 65.0 32.2 7.4 0.9 0.7 2.6 9.7 BBTN BUY 0.2 1,360 2,300 2,009 69.1 8.9 5.6 0.7 0.6 8.1 11.4 Average 19.2 8.3 1.0 0.9 6.6 11.1 Consumer (Staples) ICBP BUY 1.3 8,200 12,000 11,064 46.3 19.0 14.6 3.8 3.2 19.9 22.1 INDF BUY 0.7 6,200 9,500 8,421 53.2 11.1 11.2 1.3 1.2 11.9 11.0 KLBF BUY 0.9 1,420 1,750 1,735 23.2 24.1 21.8 3.8 3.5 16.0 16.0 UNVR BUY 2.1 4,040 5,900 5,302 46.0 21.5 21.3 31.3 30.8 145.7 145.0 SIDO BUY 0.3 795 970 940 22.0 25.6 22.0 7.4 6.9 29.1 31.5 Average 20.2 18.2 9.5 9.1 44.5 45.1 Cigarette HMSP SELL 1.5 975 870 1,182 -10.8 13.2 13.4 3.8 3.8 28.5 28.1 GGRM BUY 0.8 31,400 38,240 34,307 21.8 7.1 6.9 1.0 1.0 14.2 13.9 Average 10.2 10.1 2.4 2.4 21.4 21.0 Healthcare MIKA BUY 0.5 2,380 3,500 3,047 47.1 39.9 37.6 7.0 6.3 17.5 16.8 SILO BUY 0.2 8,675 10,800 10,633 24.5 120.5 33.2 2.4 2.3 2.0 6.8 HEAL BUY 0.2 1,175 1,380 1,432 17.4 10.8 9.3 1.4 1.3 13.3 13.5 Average 57.1 26.7 3.6 3.3 10.9 12.4 Poultry CPIN BUY 1.4 6,550 7,300 7,306 11.5 37.2 28.6 5.1 4.7 13.7 16.4 JPFA SELL 0.3 2,400 2,100 2,497 -12.5 30.0 15.8 2.4 2.1 8.0 13.1 MAIN BUY 0.0 795 1,380 1,107 73.6 n/a 11.7 0.9 0.8 -0.9 6.8 WMUU HOLD 0.0 340 340 340 0.0 n/a 15.5 n/a 3.4 n/a 21.8
Average 33.6 18.7 2.8 2.5 7.0 12.1
Retail
MAPI BUY 0.2 790 950 869 20.3 n/a 23.9 2.5 2.4 -10.4 10.0 RALS BUY 0.1 720 900 721 25.0 n/a 15.3 1.2 1.2 -1.5 7.7 ACES BUY 0.3 1,310 1,900 1,479 45.0 27.9 20.5 4.5 4.0 16.1 19.6 LPPF SELL 0.1 2,800 1,100 2,499 -60.7 n/a 21.7 4.8 7.4 -35.0 34.1
Average 27.9 19.9 2.7 2.5 1.4 12.4
Pulp and Paper
INKP SELL 0.5 7,175 7,000 9,900 -2.4 8.2 9.9 0.6 0.6 7.6 6.0 Average 8.2 9.9 0.6 0.6 7.6 Media MNCN BUY 0.2 830 1,650 1,335 98.8 5.2 4.3 0.7 0.6 13.6 14.6 SCMA BUY 0.4 2,130 2,450 2,347 15.0 27.3 23.9 8.1 7.0 29.7 29.3 Average 16.2 14.1 4.4 3.8 21.6 21.9 Telco EXCL HOLD 0.4 2,990 3,000 3,354 0.3 85.4 43.3 1.7 1.6 1.9 3.8 ISAT BUY 0.5 5,650 7,250 7,113 28.3 n/a 65.7 2.4 0.3 -5.6 0.4 TLKM BUY 4.8 3,590 4,050 4,218 12.8 17.1 15.9 2.9 2.8 17.2 17.7 Average 51.3 41.6 2.3 1.6 4.5 7.3 Telco Retail ERAA BUY 0.1 615 1,625 801 164.2 3.3 2.7 0.4 0.3 11.0 11.9 Telco Infra TBIG SELL 1.0 3,170 2,500 3,320 -21.1 66.0 50.3 10.9 6.9 16.5 13.7 TOWR BUY 0.9 1,330 1,600 1,621 20.3 23.8 20.8 6.6 5.6 27.9 27.0
Equity Research│23 September 2021
Stock Rec. JCI Wgt Last price TP SSI TP Cons SSI Upside PE (x) PE (x) PBV (x) PBV (x) ROE (%) ROE (%)
(%) (IDR) (IDR) (IDR) (%) 20A 21E 20A 21E 20A 21E
Auto ASII BUY 2.9 5,275 6,750 6,584 28.0 11.8 10.7 1.1 1.0 9.0 9.6 Average 11.8 10.7 1.1 1.0 9.0 Mining Contracting UNTR BUY 1.0 20,875 31,000 27,450 48.5 11.2 8.3 1.3 1.1 11.2 13.8 Average 11.2 8.3 1.3 1.1 11.2 Property BSDE BUY 0.3 975 1,350 1,345 38.5 14.6 11.0 0.6 0.5 4.0 4.9 PWON HOLD 0.3 482 530 596 10.0 37.1 13.0 1.0 1.6 2.6 12.1 ASRI SELL 0.0 169 130 218 -23.1 13.0 6.0 0.3 0.3 2.3 4.7 LPKR SELL 0.1 151 140 197 -7.3 n/a n/a 0.3 0.3 -0.5 -0.2 SMRA BUY 0.2 850 1,200 1,084 41.2 70.8 35.4 1.8 1.9 2.5 5.3 CTRA BUY 0.2 930 1,100 1,328 18.3 22.1 17.2 1.1 1.1 5.1 6.2
Average 31.5 16.5 0.9 1.0 2.7 5.5
Industrial Estate
SSIA BUY 0.0 515 700 810 35.9 n/a 46.8 0.6 0.6 -1.6 1.3 DMAS BUY 0.1 192 250 252 30.2 12.8 11.3 1.2 1.4 9.6 12.7
KIJA SELL 0.0 156 150 N/A -3.8 14.2 12.0 0.6 0.4 4.0 3.4
Average 13.5 23.4 0.8 0.8 4.0 5.6
Construction
PTPP BUY 0.1 1,045 1,900 1,252 81.8 47.5 8.5 0.4 0.4 0.9 4.9 ADHI BUY 0.0 885 1,800 1,011 103.4 36.9 8.6 0.6 0.5 1.5 6.1 WSKT BUY 0.2 830 1,400 987 68.7 n/a n/a 0.7 0.8 -44.6 -7.4 WIKA BUY 0.1 1,095 1,400 1,191 27.9 11.4 7.4 0.6 0.5 5.0 7.1 Average 31.9 8.2 0.6 0.6 -9.3 2.6 Cement INTP BUY 0.5 10,650 16,250 14,149 52.6 29.6 24.6 1.7 1.7 5.8 6.9 SMGR BUY 0.7 8,550 13,050 11,980 52.6 22.4 18.0 1.4 1.3 6.3 7.4 Average 26.0 21.3 1.6 1.5 6.1 7.2 Precast WSBP BUY 0.0 141 230 140 63.1 12.8 3.8 0.4 0.3 2.9 8.9 WTON BUY 0.0 246 450 307 82.9 22.4 6.6 0.6 0.6 2.9 8.9 Average 17.6 5.2 0.5 0.5 2.9 8.9
Oil and Gas
PGAS BUY 0.4 1,105 1,700 1,486 53.8 20.1 15.8 0.7 0.6 3.3 4.1 AKRA BUY 0.2 3,990 4,400 4,240 10.3 17.3 15.8 1.8 1.7 10.6 11.0 MEDC BUY 0.2 486 1,090 883 124.3 n/a 6.7 0.7 0.6 -9.9 9.7
Average 18.7 12.8 1.1 1.0 1.3 8.3
Chemical
TPIA BUY 2.1 7,250 10,250 8,971 41.4 500.0 83.3 5.0 5.0 1.0 6.0 BRPT BUY 1.2 980 1,150 1,145 17.3 204.8 125.2 5.2 5.2 2.5 4.2 ESSA SELL 0.1 308 225 593 -26.9 n/a n/a 2.1 1.1 -20.0 -0.5
Average 352.4 104.2 4.1 3.8 -5.5 3.2
Utilities
JSMR BUY 0.4 3,920 5,000 5,108 27.6 59.4 19.7 1.2 1.1 2.0 5.6 Metal
Equity Research│23 September 2021
Stock Rec. JCI Wgt Last price TP SSI TP Cons SSI Upside PE (x) PE (x) PBV (x) PBV (x) ROE (%) ROE (%)
(%) (IDR) (IDR) (IDR) (%) 20A 21E 20A 21E 20A 21E
Coal ITMG HOLD 0.3 18,150 19,700 19,681 8.5 31.1 6.0 1.7 1.3 5.4 22.1 ADRO HOLD 0.6 1,400 1,530 1,696 9.3 13.0 9.9 0.8 0.9 6.3 8.7 PTBA BUY 0.4 2,350 3,200 2,794 36.2 11.0 6.8 1.6 1.2 14.6 18.0 Average 18.4 7.5 1.4 1.1 8.8 16.3 Plantation AALI BUY 0.2 8,425 12,300 11,879 46.0 19.5 13.9 0.9 0.8 4.4 5.9 LSIP BUY 0.1 1,075 1,370 1,583 27.4 10.5 8.6 0.8 0.7 7.5 8.3 TBLA BUY 0.1 770 980 1,050 27.3 6.4 5.2 0.6 0.5 8.9 10.3
SIMP SELL 0.1 422 388 N/A -8.1 38.4 24.8 0.4 0.4 1.2 1.8
SSMS BUY 0.1 810 1,500 1,080 85.2 23.8 10.3 1.8 1.5 7.4 15.0 Average 19.7 12.6 0.9 0.8 5.9 8.3 Technology ASSA SELL 0.2 3,620 3,000 3,125 -17.1 140.9 85.6 8.5 7.8 6.1 9.1 EMTK BUY 1.6 1,935 2,800 3,133 44.7 56.9 129.0 9.5 5.2 16.7 4.1 Average 60.3 59.3 5.2 3.8 9.0 9.1
Source: SSI Research, Bloomberg
Equity Research│23 September 2021
Chg (Pts)
1D 1D 1W 1M 3M YTD 1YR High Low World 3,074 24.68 0.81 (1.54) (1.23) 2.55 14.29 33.34 3,174 2,276 U.S. (S&P) 4,396 41.45 0.95 (1.90) (1.04) 3.51 17.03 32.58 4,546 3,209 U.S. (DOW) 34,258 338.48 1.00 (1.60) (2.45) 0.92 11.93 25.54 35,631 26,144 Europe 4,150 52.68 1.29 0.10 (0.63) 1.82 16.82 30.50 4,253 2,921 Emerging Market 1,263 1.39 0.11 (1.10) 2.04 (7.18) (2.20) 17.17 1,449 1,053 FTSE 100 7,083 102.39 1.47 0.95 (0.36) 0.13 9.64 20.07 7,224 5,526 CAC 40 6,637 84.27 1.29 0.81 (0.69) 1.31 19.56 38.21 6,914 4,513 Dax 15,507 158.21 1.03 (0.70) (2.18) 0.33 13.03 22.65 16,030 11,450 Indonesia 6,108 47.51 0.78 (0.03) (0.03) 1.22 2.16 24.20 6,505 4,820 Japan 29,639 (200.31) (0.67) (3.36) 7.80 2.65 8.00 26.95 30,796 22,948 Australia 7,363 65.66 0.90 (1.31) (1.70) 0.88 11.77 24.29 7,633 5,780 Korea 3,117 (23.94) (0.76) (0.36) 1.83 (4.63) 8.46 29.19 3,316 2,267 Singapore 3,048 (15.15) (0.49) (0.35) (1.28) (2.26) 7.18 22.85 3,237 2,421 Malaysia 1,529 (1.42) (0.09) (1.70) 0.43 (2.28) (6.03) 2.17 1,696 1,452 Hong Kong 24,222 122.40 0.51 (5.02) (2.53) (14.44) (11.05) 2.13 31,183 23,124 China 3,628 14.52 0.40 (2.34) 4.35 1.75 4.48 10.63 3,732 3,202 Taiwan 16,926 (350.97) (2.03) (2.98) 1.10 (2.37) 14.89 34.50 18,034 12,150 Thailand 1,620 4.73 0.29 (0.52) 2.37 1.73 11.75 28.13 1,658 1,187 Philipines 6,891 9.53 0.14 0.15 4.54 (0.40) (3.49) 16.94 7,432 5,825
1D 1D 1W 1M 3M YTD 1YR High Low Foreign Reserves (US$Bn) 144.80 5.43 6.16 6.55 5.66 144.80 133.56
Inflation Rate (yoy, %) 1.59 1.68 1.33
Gov Bond Yld (10yr, %) 6.13 (11.14) 6.97 5.86
US Fed Rate (%) 0.25 0.25 0.25
Chg (Pts)
1D 1D 1W 1M 3M YTD 1YR High Low Indonesia 14,243 5.00 (0.04) 0.00 1.19 1.12 (1.36) 3.81 14,919 13,865 Japan 109.88 0.10 (0.09) (0.14) (0.16) 0.98 (6.03) (4.09) 111.66 102.59 UK 1.36 (0.00) (0.03) (1.28) (0.74) (2.48) (0.38) 7.03 1.42 1.27 Euro 1.17 (0.00) (0.02) (0.70) (0.51) (2.02) (4.35) 0.21 1.23 1.16 China 6.46 (0.00) 0.06 (0.46) 0.30 0.29 1.01 4.92 6.83 6.36 Chg (Pts)
1D 1D 1W 1M 3M YTD 1YR High Low Oil (Brent) 76.05 (0.14) (0.18) 0.50 10.62 1.14 46.81 82.07 77.84 35.74 CPO 4,579 109.00 2.44 2.44 1.44 28.77 17.68 52.94 4,839 2,745 Coal 182.75 4.45 2.50 1.19 14.40 46.08 127.02 208.96 182.00 52.60 Tin 34,997 1,177.00 3.48 2.79 8.56 15.13 72.19 91.76 35,955 16,960 Nickel 19,221 391.00 2.08 (3.97) 4.11 8.32 15.70 31.60 20,705 14,045 Copper 9,286 310.50 3.46 (3.54) 2.76 (0.16) 19.57 36.96 10,748 6,269 Gold 1,766 (2.27) (0.13) 0.69 (2.19) (0.72) (6.98) (5.23) 1,966 1,677 Silver 22.67 (0.03) (0.11) (1.03) (4.05) (12.44) (14.13) (0.47) 30 22 Source: Bloomberg, SSI Research
Change (%) 1 Year Change (%) 1 Year
Change (%) 1 Year
Commodity Indicators Last Price Regional Indices Last Price
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
Equity Research│23 September 2021
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 Permana Senior Economist fikri.permana@samuel.co.id +6221 2854 8144
William Mamudi, CFTe, CMT Technical Analyst william.mamudi@samuel.co.id +6221 2854 8382 Muhamad Alfatih, CSA, CTA, CFTe Senior Technical Portfolio Advisor m.alfatih@samuel.co.id +6221 2854 8129 Yosua Zisokhi Cement , Cigarette,Paper, Plantation,Telco Infra, Chemical yosua.zisokhi@samuel.co.id +6221 2854 8387
Dessy Lapagu Aviation, Coal, Metal dessy.lapagu@samuel.co.id +6221 2854 8392
Olivia Laura Anggita Healthcare, Property olivia.laura@samuel.co.id +6221 2854 8346 M. Farras Farhan Media, Poultry, Oil & Gas farras.farhan@samuel.co.id +6221 2854 8346
Calista Muskitta Retail calista.muskitta@samuel.co.id +6221 2854 8331
Pebe Peresia Consumer Staples pebe.peresia@samuel.co.id +6221 2854 8339
AshaliaFitri Research Associate ashalia.fitri@samuel.co.id +6221 2854 8163
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 Henry Sutanto Institutional Equity Sales henry.sutanto@samuel.co.id +6221 2854 8329
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 PWMEquity Sales evelyn.satyono@samuel.co.id +6221 2854 8380
Clarice Wijana PWM Equity Sales clarice.wijana@samuel.co.id +6221 2854 8395
GittaWahyuRetnani PWM Equity Sales gitta.wahyu@samuel.co.id +6221 2854 8365
WahyudiBudiyono 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
Michael Alexander Equity Retail michael.alexander@samuel.co.id +6221 2854 8163
