DAILY RESEAR CH
Market Activity
Market Index : 7,235.5
Index Movement : -27.2 -0.38%
Market Volume : 24,789 Mn shrs Market Value : 14,273 Bn rupiah
Last
Close +/- %
Leading Movers
GOTO 376 2 0.5
INCO 7,975 550 7.4
UNTR 29,800 525 1.8
ADMR 2,860 110 4.0
Lagging Movers
BBRI 4,540 -70 -1.5
BBCA 7,700 -100 -1.3
ASII 6,875 -100 -1.4
MDKA 5,250 -140 -2.6
Foreign Net Buy / Sell (Regular Market) Net Buy (IDR bn) Net Sell (IDR bn)
TLKM 256 BBCA 194
INCO 103 BMRI 46
ADMR 84 BUMI 37
GZCO 66 FILM 28
ASII 51 SMMT 22 Money Market
Last
Close +/- %
USD/IDR 14,344 -19.0 0.1
JIBOR O/N 5.9 0.0 -0.3
Dual Listing Securities Last
Close +/- %
TLKM 32.9 0.2 0.6
EIDO 24.4 -0.5 -1.9
Global Indices Last
Close +/- %
DJIA 34,451 -113 -0.33
S&P 500 4,393 -54 -1.21
Euro Stoxx 3,849 21 0.54
MSCI World 2,961 -24 -0.82
STI 3,336 -6 -0.19
Nikkei 27,172 329 1.22
Hang Seng 21,518 144 0.7
Commodities*
Last
Close +/- %
Brent Oil 111.7 2.9 2.68
Coal (ICE) 320.1 -2.3 -0.70
CPO Malay 6,558 73.0 1.13
Gold 1,975 -6.1 -0.31
Nickel 33,443 249.0 0.74
Tin 43,324 531.0 1.24
*last price per closing date
Changes Changes
Changes
Changes
Changes Thursday, 14 Apr 2022
DAILY RESEARCH
18 April 2022
Market
Terdorong Sentimen Global dan Regional, IHSG Berpotensi Terkoreksi
Pada penutupan Kamis lalu (14/4), pasar AS bergerak melemah. Dow Jones melemah -0.33%, S&P 500 melemah -1.21%, dan Nasdaq melemah -2.14%.
Perhatian pasar AS pada minggu ini akan tertuju pada pidato powell di pertemuan IMF, rilis laporan keuangan beberapa perusahaan consumer seperti JNJ US, dan PG US, serta rilis data seputar pasar perumahan. Yield UST 10Y meningkat ke level 2.83%, dan USD index meningkat +0.39% ke level 100.3.
Pasar komoditas terpantau bergerak mayoritas melemah pada Kamis (14/4) kemarin; minyak WTI menguat +2.26% ke level USD 106.51/bbl, sedangkan Brent melemah -0.09% ke level USD 111.23/bbl. Harga batubara melemah -0.93% ke level USD 309.1/ton, sedangkan nikel menguat +1.4% ke level USD 33,442, dan CPO flat di level MYR 6,820. Sedangkan harga emas terpantau flat di level USD 1,975/toz).
Bursa Asia bergerak melemah pada Jumat (15/4) kemarin. Kospi melemah -0.76%, Nikkei melemah -0.29%, Hang Seng closed, dan Shanghai melemah -0.45%. IHSG ditutup melemah -0.38% pada perdagangan Kamis lalu (14/4) ke level 7,235, dengan net buy sebesar IDR 80.1 miliar. Di pasar reguler, investor asing mencatatkan net buy sebesar IDR 492 miliar, dan pada pasar negosiasi tercatat net sell sebesar IDR 411.9 miliar. Angka net buy asing tertinggi di pasar reguler dicatatkan oleh TLKM (IDR 256.3 miliar), INCO (IDR 103.2 miliar), dan ADMR (IDR 84.2 miliar). Sementara itu, angka net sell asing tertinggi di pasar reguler dicetak BBCA (IDR 193.7 miliar), BMRI (IDR 45.9 miliar), dan BUMI (IDR 36.8 miliar). Top leading movers adalah GOTO, INCO, dan UNTR, sedangkan BBRI, BBCA, dan ASII menjadi top lagging movers.
Terjadi penambahan 607 kasus baru COVID-19 di Indonesia pada hari Minggu (17/4) namun dengan jumlah kasus sembuh yang meningkat lebih besar 2,782. Daily positive sebesar 0.9% dan overall positive rate sebesar 9.8% (recovery rate: 96.5%;
kasus aktif: 58,278).
Pagi ini Kospi dibuka melemah -0.25% dan Nikkei dibuka melemah -1.39%. Kami memperkirakan IHSG akan melanjutkan penurunan pada hari ini, seiring dengan sentimen beragam dari pergerakan bursa global dan bursa regional.
Highlights
CTRA : Laba Bersih +31.4% yoy di FY21 (4Q21: +34.1% qoq, -33.8% yoy)
Equity Research│18 April 2022
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)
19-Apr-21 19-May-21 19-Jun-21 19-Jul-21 19-Aug-21 19-Sep-21 19-Oct-21 19-Nov-21 19-Dec-21 19-Jan-22 19-Feb-22 19-Mar-22
0 20 40 60 80 100 120 140
19-Apr-21 10-May-21 31-May-21 21-Jun-21 12-Jul-21 2-Aug-21 23-Aug-21 13-Sep-21 4-Oct-21 25-Oct-21 15-Nov-21 6-Dec-21 27-Dec-21 17-Jan-22 7-Feb-22 28-Feb-22 21-Mar-22 11-Apr-22
40 90 140 190 240 290 340 390 440 490
19-Apr-21 19-May-21 18-Jun-21 18-Jul-21 17-Aug-21 16-Sep-21 16-Oct-21 15-Nov-21 15-Dec-21 14-Jan-22 13-Feb-22 15-Mar-22 14-Apr-22
1,500 2,500 3,500 4,500 5,500 6,500 7,500 8,500
4,000 4,500 5,000 5,500 6,000 6,500 7,000 7,500 8,000
10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 50,000
19-Apr-21 10-May-21 31-May-21 21-Jun-21 12-Jul-21 2-Aug-21 23-Aug-21 13-Sep-21 4-Oct-21 25-Oct-21 15-Nov-21 6-Dec-21 27-Dec-21 17-Jan-22 7-Feb-22 28-Feb-22 21-Mar-22 11-Apr-22
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 Daily Total Closed Cases
Cases % Deaths Deaths Active Cases %
4/17/2022 6,039,873 0.01 155,866 22 (183,875,635) 3144.36 4/16/2022 6,039,266 0.01 155,844 24 (183,876,220) 3144.68 4/15/2022 6,038,664 0.02 155,820 26 (183,876,798) 3144.99 4/14/2022 6,037,742 0.01 155,794 48 (183,877,694) 3145.47 4/13/2022 6,036,909 0.03 155,746 29 (178,563,329) 3057.86 4/12/2022 6,035,358 0.02 155,717 43 (178,564,851) 3058.65 4/11/2022 6,033,903 0.02 155,674 48 (178,566,263) 3059.38
Average 34 3107.91
Source: SSI Research, Bloomberg
Equity Research│18 April 2022
CTRA: Laba Bersih +31.4% yoy di FY21 (4Q21: +34.1% qoq, -33.8% yoy)
PT Ciputra Development (CTRA) mencatatkan pertumbuhan pendapatan +20.6% yoy sebesar IDR 9.7 triliun di FY21. Laba kotor naik +17.4% yoy menjadi IDR 4.8 triliun dan GPM 49.7% (FY20: 51.1%). Laba usaha naik 26.8% yoy sebesar IDR 3.3 triliun dan OPM 34.5% (FY20: 32.8%). Laba bersih CTRA juga tumbuh +31.4% yoy sebesar IDR 1.7 triliun dan NPM 17.8%
(FY20: 16.4%) di FY21. (Laporan Keuangan) Comment:
Secara stand-alone 4Q21, pendapatan CTRA +17.2% qoq dan -19.6% yoy sebesar IDR 3.08 triliun. Pendapatan pada segmen property development (kontr: 84.0%) +14.7% qoq dan -23.4% yoy sebesar IDR 2.5 triliun.
Pendapatan recurring income tumbuh +32.3% qoq dan +9.5% yoy sebesar IDR 494 milyar. Laba kotor +15.3% qoq dan -30.1% yoy sebesar IDR 1.5 triliun dengan GPM 51.1% (3Q21: 50.0%). Laba usaha +31.3% qoq dan -33.3%
yoy sebesar IDR 1.2 triliun dengan OPM 39.2% (3Q21: 35.0%). CTRA berhasil membukukan laba bersih sebesar
IDR 721 milyar, +35.7% qoq dan -33.8% yoy di 4Q21 dengan NPM 34.1% (3Q21: 20.2%). CTRA: BUY: 12.5x PE
'22E, 1.1x PBV '21E, TP: IDR 1,360)
Equity Research│18 April 2022
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) (%) 22A 23E 22A 23E 22A 23E
Banks
BBCA HOLD 7.8 7,700 8,100 8,359 5.2 26.1 23.5 4.3 3.9 16.3 16.5
BBRI BUY 7.7 4,540 5,400 5,186 18.9 16.4 14.7 2.2 2.1 13.2 14.2
BMRI HOLD 5.1 7,675 8,000 9,153 4.2 11.4 10.1 1.6 1.5 14.2 14.9
BBNI HOLD 2.2 8,400 8,500 9,131 1.2 10.3 8.5 1.0 0.9 10.1 11.1
BBTN BUY 0.2 1,620 2,200 2,212 35.8 6.3 5.3 0.7 0.6 10.9 11.3
Average 9.3 8.0 1.1 1.0 11.7 12.4
Consumer (Staples)
ICBP BUY 0.6 7,175 12,000 10,570 67.2 11.2 10.0 2.3 2.0 20.1 20.0
INDF BUY 1.0 6,125 7,150 8,191 16.7 7.4 6.8 1.0 1.0 14.0 14.2
KLBF BUY 1.1 1,585 1,950 1,833 23.0 21.6 19.9 3.5 3.2 16.4 16.3
UNVR BUY 0.7 3,400 4,800 4,047 41.2 21.8 20.6 24.6 22.7 113.0 110.0
SIDO HOLD 0.2 910 970 1,118 6.6 21.4 19.8 7.4 7.0 34.3 35.5
Average 16.7 15.4 7.8 7.2 39.6 39.2
Cigarette
HMSP SELL 0.3 895 870 1,028 -2.8 13.4 11.5 3.5 3.4 26.4 29.3
GGRM HOLD 0.3 30,600 32,500 35,357 6.2 9.3 6.5 1.0 0.9 10.5 14.1
Average 11.3 9.0 2.3 2.1 18.4 21.7
Healthcare
MIKA BUY 0.5 2,610 2,960 2,671 13.4 28.7 25.1 5.9 5.2 20.5 20.8
SILO BUY 0.1 1,200 1,420 1,040 18.3 22.7 19.6 2.2 2.1 9.9 10.6
HEAL BUY 0.4 1,390 5,700 1,368 310.1 6.5 5.7 1.1 0.9 17.1 16.5
Average 19.3 16.8 3.1 2.7 15.8 15.9
Poultry
CPIN BUY 1.2 4,990 7,000 6,238 40.3 21.8 20.6 3.2 2.9 14.9 14.3
JPFA BUY 0.3 1,590 1,800 2,049 13.2 10.3 10.3 1.3 1.2 12.5 11.5
MAIN HOLD 0.0 650 685 730 5.4 9.5 6.3 0.6 0.6 6.8 9.4
WMUU BUY 0.0 151 340 240 125.2 2.8 3.0 1.0 0.7 34.4 24.9
WMPP BUY 0.0 136 240 240 76.5 7.6 4.5 1.7 1.3 22.8 29.4
Average 10.4 9.0 1.6 1.4 18.3 17.9
Retail
MAPI BUY 0.3 890 1,100 1,036 23.6 37.3 21.3 2.7 2.6 7.2 12.1
RALS BUY 0.0 755 900 838 19.2 16.1 11.1 1.2 1.1 7.7 10.2
ACES BUY 0.3 1,145 1,900 1,376 65.9 17.9 15.7 3.5 3.1 19.6 20.0
LPPF SELL 0.2 5,750 3,430 5,584 -40.3 16.4 12.2 14.5 9.2 88.3 75.2
ERAA BUY 0.1 540 785 907 45.4 7.8 7.1 1.3 1.1 16.9 16.1
Average 19.1 13.5 4.7 3.4 27.9 26.7
Pulp and Paper
INKP BUY 0.5 7,625 9,900 10,050 29.8 6.6 7.5 0.6 0.6 9.3 7.8
ALDO BUY 0.0 1,030 2,000 2,000 94.2 18.7 15.4 1.7 1.5 9.1 9.8
Average 12.7 11.4 1.2 1.0 9.2 8.8
Media
MNCN BUY 0.3 1,005 1,300 1,246 29.4 5.0 4.5 0.7 0.6 14.1 14.0
SCMA BUY 0.2 266 340 421 27.8 14.8 10.2 2.6 2.3 17.8 22.2
FILM BUY 0.0 1,220 1,350 1,350 10.7 305.0 174.3 9.2 9.0 3.0 5.1
Average 108.3 63.0 4.2 4.0 11.7 13.8
Telco
EXCL BUY 0.4 2,710 3,000 3,765 10.7 39.3 31.1 1.5 1.4 3.8 4.6
ISAT BUY 0.2 5,225 7,250 7,529 38.8 n/a 60.8 2.2 0.2 -5.6 0.4
TLKM HOLD 7.9 4,680 5,000 5,109 6.8 21.3 20.3 4.3 4.1 20.2 20.1
Equity Research│18 April 2022
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) (%) 22A 23E 22A 23E 22A 23E
Telco Infra
TBIG SELL 0.9 3,090 1,550 3,331 -49.8 60.6 53.3 9.4 8.4 15.6 15.8
TOWR BUY 0.9 1,010 1,600 1,344 58.4 15.8 14.2 4.3 3.7 27.0 25.7
MTEL BUY 0.4 765 965 1,003 26.1 63.8 42.5 1.9 1.8 3.0 4.3
Average 46.7 36.7 5.2 4.6 15.2 15.3
Auto
ASII HOLD 4.5 6,875 7,300 7,201 6.2 14.4 12.8 1.3 1.2 9.1 9.5
DRMA BUY 0.0 535 830 862 55.1 11.1 8.5 2.3 1.8 20.8 20.7
ASLC BUY 0.0 216 320 410 48.1 166.2 93.9 11.4 2.6 6.8 2.8
Average 63.9 38.4 5.0 1.9 12.2 11.0
Mining Contracting
UNTR HOLD 1.6 29,800 31,000 30,672 4.0 16.0 11.9 1.8 1.6 11.2 13.8
Average 16.0 11.9 1.8 1.6 11.2
Property
BSDE BUY 0.2 945 1,480 1,394 56.6 14.3 10.9 0.5 0.5 3.5 4.4
PWON BUY 0.3 505 630 632 24.8 21.0 17.4 1.5 1.4 7.3 8.1
SMRA BUY 0.2 685 1,200 1,172 75.2 28.5 18.5 1.5 1.4 5.3 7.7
CTRA BUY 0.3 965 1,360 1,415 40.9 12.5 10.6 1.1 1.0 8.6 9.3
Average 17.8 12.7 0.9 0.8 4.4 5.7
Construction
PTPP BUY 0.1 930 1,400 1,293 50.5 15.5 14.5 0.4 0.4 2.5 2.6
ADHI BUY 0.0 700 1,420 1,030 102.9 23.3 12.1 0.4 0.4 1.9 3.4
WSKT BUY 0.1 535 1,220 891 128.0 n/a n/a 0.5 0.6 -4.2 -22.2
WIKA BUY 0.1 935 1,440 1,268 54.0 39.0 27.5 0.5 0.5 1.3 1.7
WEGE BUY 0.0 179 300 267 67.6 8.0 5.7 0.7 0.6 9.0 11.3
Average 11.8 10.1 0.5 0.5 2.4 -2.8
Cement
INTP BUY 0.6 10,050 13,000 13,754 29.4 22.1 17.0 1.7 1.6 7.6 9.7
SMGR BUY 0.6 6,025 13,050 9,569 116.6 12.7 12.0 0.9 0.9 7.4 7.5
Average 17.4 14.5 1.3 1.3 7.5 8.6
Precast
WTON BUY 0.0 212 266 293 25.5 22.3 16.3 0.5 0.5 2.4 3.2
Average 22.3 16.3 0.5 0.5 2.4 3.2
Oil and Gas
PGAS BUY 0.5 1,355 1,800 1,847 32.8 6.0 9.2 0.6 0.6 10.7 6.9
AKRA BUY 0.3 930 1,040 1,043 11.8 16.6 14.8 2.0 1.9 12.0 12.6
MEDC BUY 0.1 525 1,090 850 107.6 n/a 7.2 0.8 0.7 -9.9 9.7
Average 11.3 10.4 1.1 1.1 4.3 9.7
Chemical
TPIA HOLD 1.2 10,250 10,250 9,275 0.0 117.8 54.2 7.1 7.1 6.0 13.0
BRPT BUY 0.8 870 1,150 983 32.2 108.8 43.5 4.6 4.3 4.2 9.9
ESSA SELL 0.4 1,480 225 1,100 -84.8 n/a 59.2 5.1 5.1 -0.3 8.6
Average 113.3 52.3 5.6 5.5 3.3 10.5
Utilities
JSMR BUY 0.3 3,680 4,150 5,115 12.8 20.8 13.6 1.0 1.0 5.0 7.1
Metal
ANTM BUY 0.8 2,780 3,230 3,191 16.2 27.3 21.2 3.2 3.0 11.8 14.2
MDKA SELL 2.2 5,250 3,000 4,836 -42.9 121.3 28.5 19.1 20.8 15.7 72.9
INCO SELL 0.6 7,975 6,900 6,998 -13.5 33.4 19.4 2.6 2.2 7.7 11.4
BRMS SELL 0.7 232 200 165 -13.8 0.1 0.0 2.5 1.4 1792.4 3471.9
Average 45.5 450.2 6.0 6.1 364.7 714.1
Equity Research│18 April 2022
Potential Mkt. Cap Net Profit P/E
(IDRbn) Period Price (IDR) mn shares % (IDRbn) Usage (IDRbn) (x)
Source : e-ipo.co.id, *Note: Subject to OJK approval
107 6.1 8M21
100 - 140 1,500 28.7 150 - 210 Working capital and landbank acquisition WINR*
Winner Nusantara Jaya ( Properties &
Real Estate)
20-Apr 654 - 915 12 - 14 Apr
Upcoming IPO's
Financial Result Period
Ticker Company (Sector) Listing Offering Shares issued Proceeds
MTMH* Murni Sadar
(Healthcare) 18-Apr 2,648 13 - 18 Apr 1,280 254 12.3 325 122 21.7 10M21
Lending facility to subsidiary, capex and
working capital
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
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) (%) 22A 23E 22A 23E 22A 23E
Coal
ITMG BUY 0.4 28,300 33,850 31,075 19.6 4.6 4.2 1.8 1.2 39.2 29.1
ADRO SELL 1.7 3,310 3,200 3,220 -3.3 7.9 5.5 1.8 1.1 22.2 20.0
PTBA HOLD 0.5 3,770 4,000 4,006 6.1 0.5 0.4 1.8 1.6 377.7 362.9
HRUM HOLD 0.2 13,600 13,600 15,675 0.0 39.2 22.9 4.6 3.9 11.8 16.9
Average 13.0 8.2 2.5 1.9 112.7 107.2
Plantation
AALI BUY 0.2 12,875 14,500 14,917 12.6 14.0 16.5 1.2 1.2 8.7 7.2
LSIP SELL 0.1 1,495 1,370 1,669 -8.4 12.0 13.1 1.0 1.0 8.7 7.6
SSMS HOLD 0.1 1,125 1,200 2,100 6.7 33.1 14.2 2.5 2.1 7.4 15.0
TAPG BUY 0.1 670 1,050 1,039 56.7 8.8 7.4 1.7 1.4 19.2 19.4
Average 20.5 14.7 1.3 1.1 9.0 10.2
Technology
ASSA BUY 0.1 2,570 4,300 4,544 67.3 43.6 28.6 5.0 4.2 11.5 14.9
EMTK SELL 1.5 2,740 2,600 2,575 -5.1 391.4 274.0 13.0 12.0 3.3 4.4
BUKA BUY 0.7 346 400 713 15.6 n/a n/a 1.5 1.6 -574.9 -371.3
Average 99.5 67.8 4.1 3.7 (87.4) (51.2)
Source: SSI Research, Bloomberg
Note: GIAA, INKP, PGAS, ITMG, ADRO, MEDC, BRPT, INCO, DOID, TPIA report in USD.
Equity Research│18 April 2022
Chg (Pts)
1D 1D 1W 1M 3M YTD 1YR High Low
World 2,960 (0.97) (0.03) (0.43) (1.69) (5.27) (8.42) 0.21 3,262 2,792
U.S. (S&P) 4,393 (54.00) (1.21) (2.39) 3.05 (5.80) (7.84) 5.33 4,819 4,057
U.S. (DOW) 34,451 (113.36) (0.33) (0.38) 2.70 (4.07) (5.19) 1.22 36,953 32,273
Europe 3,849 20.72 0.54 1.23 2.96 (9.91) (10.46) (3.62) 4,415 3,387
Emerging Market 1,113 (4.47) (0.40) 0.10 (0.90) (10.36) (9.67) (17.48) 1,395 1,024
FTSE 100 7,616 35.58 0.47 0.86 6.14 0.97 3.14 9.06 7,687 6,788
CAC 40 6,589 47.21 0.72 1.98 3.69 (7.75) (7.88) 5.70 7,385 5,756
Dax 14,164 87.41 0.62 0.61 1.77 (10.83) (10.83) (7.15) 16,290 12,439
Indonesia 7,236 (27.25) (0.38) 1.52 4.59 8.10 9.94 19.02 7,355 5,742
Japan 26,749 (344.40) (1.27) (0.27) (0.29) (5.34) (7.10) (9.89) 30,796 24,682
Australia 7,523 44.42 0.59 1.08 6.00 1.75 1.06 6.58 7,633 6,758
Korea 2,694 (1.94) (0.07) 0.04 (0.48) (5.94) (9.52) (15.77) 3,316 2,592
Singapore 3,336 (6.37) (0.19) (2.01) 3.08 1.64 6.79 4.74 3,466 3,024
Malaysia 1,589 (6.69) (0.42) (1.14) (0.14) 2.99 1.37 (1.20) 1,623 1,475
Hong Kong 21,518 143.71 0.67 (1.33) 16.85 (11.75) (8.03) (25.27) 29,491 18,235
China 3,211 (14.40) (0.45) (1.25) (1.23) (10.05) (11.77) (6.29) 3,724 3,023
Taiwan 17,004 (241.47) (1.40) (1.62) (2.59) (7.48) (6.67) (0.90) 18,620 15,160
Thailand 1,674 (4.12) (0.25) (1.68) 0.98 (0.34) 1.01 8.64 1,719 1,501
Philipines 6,985 89.54 1.30 (1.75) 2.46 (3.81) (1.93) 7.08 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, %) 6.92 6.61 6.95 6.01
US Fed Rate (%) 0.50 0.50 0.25
Chg (Pts)
1D 1D 1W 1M 3M YTD 1YR High Low
Indonesia 14,344 (19.00) 0.13 0.10 (0.08) (0.33) (0.63) 1.81 14,568 14,057
Japan 126.74 0.28 (0.22) (1.08) (5.97) (9.57) (9.20) (14.65) 126.79 107.48
UK 1.30 (0.00) (0.18) 0.05 (1.08) (4.12) (3.67) (6.79) 1.42 1.30
Euro 1.08 (0.00) (0.12) (0.80) (2.30) (4.66) (5.04) (10.30) 1.23 1.08
China 6.37 (0.01) 0.11 (0.10) (0.01) (0.36) (0.24) 2.37 6.53 6.31
Chg (Pts)
1D 1D 1W 1M 3M YTD 1YR High Low
Oil (Brent) 113.20 1.50 1.34 10.14 4.88 29.36 45.54 69.54 139.13 64.57
CPO 6,682 118.00 1.80 5.95 (0.12) 26.65 29.52 62.86 8,034 3,343
Coal 320.10 (2.25) (0.70) 11.34 (4.77) 59.85 110.94 256.66 487.50 85.50
Tin 43,043 (281.00) (0.65) (1.28) 1.07 6.67 10.76 64.18 51,000 25,650
Nickel 33,175 194.00 0.59 (1.55)#N/A N/A 49.48 59.83 102.56 55,000 15,925
Copper 10,315 16.00 0.16 0.03 3.82 6.13 6.12 13.67 10,845 8,740
Gold 1,986 7.36 0.37 1.64 3.33 9.48 8.55 12.09 2,070 1,691
Silver 25.82 0.28 1.08 2.89 3.44 10.02 10.79 0.00 29 21
Source: Bloomberg, SSI Research
Change (%) 1 Year
Change (%) 1 Year
Change (%) 1 Year
Commodity Indicators Last Price Regional Indices Last Price
Exchange Rate (per USD) 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
Equity Research│18 April 2022
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
