Daily Insight. Market Update. your reliable partner. Friday, Feb 17 th 2017

(1)

Daily Insight

Friday, Feb 17

th

₂₀₁₇

Market Update

Pasar saham Eropa dan Amerika ditutup turun

kemarin. Investor mengambil aksi profit taking

setelah sebelumnya indeks rally mencetak rekor

tertinggi. Data ekonomi AS cenderung positif

dimana Klaim Pengangguran tercatat pada level

terendah dalam 40 tahun terakhir serta Philly Fed

Manufacturing Index tercatat naik signifikan. Awal

pekan depan pasar saham AS akan libur untuk

memperingati Presidents Day.

Pasar saham Jepang, Korea dan Australia dibuka

turun pagi ini.

Dari dalam negeri, Pemerintah berwacana untuk

menghapus kewajiban perpanjangan Surat Izin

Usaha Perdagangan (SIUP) dan Tanda Daftar

Perusahaan (TDP). BI akan merilis kebijakan baru

terkait pengelolaan dividen guna memperkuat

makroprudensial di tengah semakin kecilnya ruang

pelonggaran moneter. BI menahan suku bunga

acuan BI 7 Days Reverse Repo di level 4,75% dan

Neraca perdagangan bulan Januari mengalami

peningkatan.

Secara teknikal IHSG bergerak bearish pasca

menguji support MA7 dan tertekan hingga

mencoba pengujian support MA25 di level

5324.25.

Indikator stochastic

terkonsolidasi

negatif pada middle oscillator dan RSI yang

bergerakan negetif setelah break out semua

support MA momentum. Sehingga diperkirakan

IHSG masih akan cenderung bergerak melemah

dengan range pegerakan 5324-5400.

Saham-saham yang masih layak mendapat perhatian

diantaranya ITMG, PGAS, KAEF, KLBI, PWON.

16-Feb-17

Daily

Yt d

Dow Jones

20,619.77

0.0%

4.3%

S&P 500

2,347.22

-0.1%

4.8%

Nasdaq

5,814.90

-0.1%

8.0%

FTSE 100

7,277.92

-0.3%

1.9%

DAX

11,757.24

-0.3%

2.4%

CAC 40

4,899.46

-0.5%

0.8%

Hang Seng

24,107.70

0.5%

9.6%

Nikkei

19,347.53

-0.5%

1.2%

Kospi

2,081.84

-0.1%

2.7%

Shanghai Comp

3,229.62

0.5%

4.1%

All Ordinaries

3,959.20

-0.4%

2.2%

EIDO

24.80 -0.8%

2.8%

Idn CDS 5yr USD

137.08 1.0%

-13.2%

MSCI Emerging Mkt

945.62 0.4%

9.7%

CBOE SPX Volatility

11.76 -1.8%

-16.2%

US Dollar Index

100.44 -0.7%

-1.7%

Commodit ies (USD)

16-Feb-17

Daily

Yt d

Coal

79.50 -0.2%

-11.3%

CPO (MYR)

3,151.00

-4.7%

-2.1%

Crude Oil

53.36 0.5%

-0.7%

Gold

1,239.04

0.4%

8.0%

Copper

271.85 -0.8%

8.5%

Nickel

11,031.75

1.3%

10.6%

Tin

19,675.00

-0.9%

-7.2%

HRC Steel

615.00 -0.2%

-2.8%

Corn

373.50 -1.4%

6.1%

Soybean

1,043.75

-1.6%

4.7%

Indonesia

16-Feb-17

Daily

Yt d

USDIDR

13,322.00

0.0%

-1.1%

IHSG

5,378.00

#VALUE!

1.5%

LQ45

894.40 #VALUE!

1.1%

ISSI

175.27 #VALUE!

1.9%

JII

701.57 #VALUE!

1.1%

Finance

826.82 #VALUE!

1.8%

Property

527.10 #VALUE!

1.8%

Consumer

2,354.82

#VALUE!

1.3%

Misc Indust

1,353.93

#VALUE!

-1.2%

Basic Indust

578.75 #VALUE!

7.5%

Mining

1,405.18

#VALUE!

1.5%

Agriculture

1,886.45

#VALUE!

1.2%

Trading

859.13 #VALUE!

-0.2%

Infrastructure

347.42 #VALUE!

1.8%

Indonesia St ock 16-Feb-17

Yt d

Foreign Net Buy (Sell) (375.41)

(173)

(bn Rp)

Value Shares Traded 7,772.16

(bn Rp)

Volume Shares Traded

22,543.33

(mn shares)

Govt Bond Yield (%)

16-Feb-17

Chg

(2)

Daily News:

Bank Permata (BNLI): mencatat rugi bersih sebesar Rp 6,48 triliun hingga periode 31 Desember 2016 usai meraih

laba bersih Rp 247,11 miliar periode sama tahun sebelumnya.(Iqp)

Tower Bersama Infrastructure (TBIG): menyiapkan belanja modal tahun 2017 sebesar Rp 1 triliun-Rp 2 triliun

untuk membangun infrastruktur, diantaranya membangun menara telekomunikasi.(Br.com)

Wika Beton (WTON): berhasil mencetak kinerja yang cukup bagus sepanjang tahun 2016 dengan pertumbuhan

laba bersih 56,7%. Perseroan mengantongi laba bersih tahun 2016 sebesar Rp 272,4 miliar.(Ko.id)

Pakuwon Jati (PWON): melalui anak usahanya PT Pakuwon Prima akan menerbitkan surat utang di bursa

Singapura dalam rangka memperoleh pendanaan untuk melunasi surat utang 2019. Surat utang yang diterbitkan

itu sebesar US$ 250 juta atau setara dengan Rp 3.249.500.000.000. (Iqp)

Energi Mega Persada (ENRG): berencana melakukan reverse stock dimana 8 saham perseroan dengan nominal

Rp 100 akan menjadi 1 saham dengan nominal baru Rp 800.(Iqp)

Siloam Hospitals (SILO): melalui anak perusahaannya PT Tunggal Pilar Perkasa telah mengambilalih 100%

kepemilikan saham dalam PT Lishar Sentosa Pratama (LSP). Nilai pengaliohan saham-saham senilai Rp

26.500.000.000. (Iqp)

Adhi Kartya (ADHI): alami penuruna laba bersiih sebsar 32.40% menjadi Rp 313.45 miliar hingga periode 31

Desember 2016.(Iqp)

Hanson International (MYRX): menargetkan penjualan senilai Rp 50 triliun dari pengembangan proyek properti di

Maja dan Serpong dalam 5 tahun mendatang. Nilai tersebut didasarkan target penjualan sebanyak 200 ribu unit

rumah samapai 2021. Perseroan akan menjual proeprti dalam berbagai tipe dengan nilai penjualannya bisa

mencapai Rp 50 triliun.(Br.com)

16-Fe b-17

Daily

Yt d

P/E

Misc Indust

ASII IJ Equity

8,100

#V ALUE!

-2.1%

23.9 GJTL IJ Equity

1,030

#V ALUE!

-3.7%

3.5 SRIL IJ Equity

276 #V ALUE!

20.0%

6.3 Basic Indust

SMGR IJ Equity

9,500

#V ALUE!

3.5%

13.3 INTP IJ Equity

15,625

#V ALUE!

1.5%

13.4 CPIN IJ Equity

3,500

#V ALUE!

13.3%

18.7 JPFA IJ Equity

1,870

#V ALUE!

28.5%

9.0 Finance

BBTN IJ Equity

2,090

#V ALUE!

20.1%

8.5 BBNI IJ Equity

6,200

#V ALUE!

12.2%

10.1 BBRI IJ Equity

12,000

#V ALUE!

2.8%

11.2 BBCA IJ Equity

15,500

#V ALUE!

0.0%

19.3 Consumer

UNV R IJ Equity

42,600

#V ALUE!

9.8%

50.6 MYOR IJ Equity

1,885

#V ALUE!

14.6%

40.3 INDF IJ Equity

8,000

#V ALUE!

0.9%

16.6 Property

WSKT IJ Equity

2,570

#V ALUE!

0.8%

19.9 WIKA IJ Equity

2,510

#V ALUE!

6.4%

26.2 PPRO IJ Equity

346 #V ALUE!

1.8%

4.3 KIJA IJ Equity

296 #V ALUE!

1.4%

9.8 Infrastructure

TLKM IJ Equity

3,870

#V ALUE!

-2.8%

20.4 JSMR IJ Equity

4,760

#V ALUE!

10.2%

17.2 Trading

UNTR IJ Equity

23,825

#V ALUE!

12.1%

63.1 LPPF IJ Equity

14,800

#V ALUE!

-2.1%

21.5 Mining

ELSA IJ Equity

420 #V ALUE!

0.0%

9.9 ADRO IJ Equity

1,700

#V ALUE!

0.3%

22.5 Agriculture

AALI IJ Equity

15,600

#V ALUE!

-7.0%

16.4 LSIP IJ Equity

1,600

#V ALUE!

-8.0%

25.8 SIMP IJ Equity

520 #V ALUE!

5.3%

16.8 LS 27 ave rage re t urn

#VALUE!

5. 2%

JCI Inde x

5, 378

#VALUE!

1. 5%

(3)

World Economic Calendar

RUPS

Indonesia 10yr IDR Govt Bond Yield

Date

Yield (mid)

14-Feb-17

7.77 13-Feb-17

7.76 10-Feb-17

7.77 9-Feb-17

7.79 8-Feb-17

7.82 Event

Period

Prior

Survey

Actual

16-Feb-17

EU ECB Monetary Policy Meeting Accounts

US Building Permits (MoM)

Jan

1.21M

1.285M

Housing Starts (MoM)

Jan

1.226M

1.246M

Housing Starts Change

Jan

11.30%

-2.60%

Building Permits Change

Jan

-0.20%

4.60%

Initial Jobless Claims

Feb

234K

239K

Philadelphia Fed Manufacturing Survey

Feb

23.6

43.3 17-Feb-17

GB Retail Sales ex-Fuel (MoM)

Jan

-2.0%

Retail Sales ex-Fuel (YoY)

Jan

0.0 Retail Sales (MoM)

Jan

(0.0)

Retail Sales (YoY)

Jan

0.0 US CB Leading Indicator (MoM)

Jan

0.0 Baker Hughes US Oil Rig Count

591.0

Source:Fxstreet

Ticker Dat e Place Act ion

BCIP 9-Feb-17 Sofyan Hotel RUPSLB XCID 20-Feb-17 Ballroom Lt.5 Plaza Asia Office RUPSLB

ANJT 20-Feb-17 RUPSLB

DPUM 21-Feb-17 RUPSLB

PADI 23-Feb-17 Ruang Seminar Bursa Efek Indonesia RUPSLB

FPNI 23-Feb-17 RUPSLB

SOBI 28-Feb-17 Hotel Intercontinental Midplaza RUPSLB

BKSW 28-Feb-17 RUPSLB

BYAN 28-Feb-17 Gedung Office 8, Lt 37 RUPSLB

KKGI 1-Mar-17 RUPSLB

GZCO 1-Mar-17 Gedung Perseroan RUPSLB BPFI 3-Mar-17 Ruang Rapat Perseroan RUPSLB LAMI 3-Mar-17 Hotel Tunjungan, Surabaya RUPSLB PPRO 8-Mar-17 Auditorium Lantai 1 Plaza PP RUPSLB POLY 9-Mar-17 Ruang Candi Singosari, Grand Sahid RUPSLB Source: KSEI

Indonesia 10yr IDR Govt Bond Yield

Date Yield (mid)

16-Feb-17 7.77 14-Feb-17 7.77 13-Feb-17 7.76 10-Feb-17 7.77 9-Feb-17 7.79

Dat e Indonesia St ock Yt d Net Foreign Net Value (Rp bn)

JASXFBAT Index Buy (Sell) (Rp bn)

16-Feb-17 (375.41) (173.08) 14-Feb-17 (384.19)

13-Feb-17 512.68 10-Feb-17 (430.06)

(4)

Indonesia Government Bonds

Mat urit y

Price (Bid)

Y TM (Bid)

Cpn

Next Coupon Issued

OR11 10/15/2017

OR12 10/15/2018

OR13 10/15/2019

SR06 3/5/2017

SR07 3/11/2018

SR08 3/10/2019

FR28 7/15/2017

FR31 11/15/2020

FR32 7/15/2018

FR34 6/15/2021

FR35 6/15/2022

FR36 9/15/2019

FR37 9/15/2026

FR38 8/15/2018

FR39 8/15/2023

FR40 9/15/2025

FR42 7/15/2027

FR43 7/15/2022

FR44 9/15/2024

FR45 5/15/2037

FR46 7/15/2023

FR47 2/15/2028

FR48 9/15/2018

FR50 7/15/2038

FR52 8/15/2030

FR53 7/15/2021

FR54 7/15/2031

FR56 9/15/2026

FR57 5/15/2041

FR58 6/15/2032

FR59 5/15/2027

FR60 4/15/2017

FR61 5/15/2022

FR62 4/15/2042

FR63 5/15/2023

FR64 5/15/2028

FR65 5/15/2033

FR66 5/15/2018

FR67 2/15/2044

FR68 3/15/2034

FR69 4/15/2019

FR70 3/15/2024

FR71 3/15/2029

FR72 5/15/2036

FR73 5/15/2031

FR74 8/15/2032

101.76

5.73

8.50 3/15/2017

10/22/2014

103.28

6.89

9.00 3/15/2017

10/21/2015

99.06

6.99

6.60 3/15/2017

10/26/2016

100.16

4.19

8.75 3/5/2017

3/5/2014

102.01

6.27

8.25 3/11/2017

3/11/2015

102.42

7.03

8.30 3/10/2017

3/10/2016

101.64

5.72

10.00 7/15/2017

2/24/2005

112.11

7.23

11.00 5/15/2017

6/16/2005

111.06

6.57

15.00 7/15/2017

9/1/2005

120.08

7.28

12.80 6/15/2017

1/26/2006

123.75

7.40

12.90 6/15/2017

2/16/2006

110.11

7.11

11.50 3/15/2017

4/20/2006

128.66

7.71

12.00 3/15/2017

5/18/2006

106.99

6.58

11.60 8/15/2017

8/24/2006

121.01

7.59

11.75 8/15/2017

8/24/2006

120.36

7.71

11.00 3/15/2017

9/21/2006

117.14

7.81

10.25 7/15/2017

1/25/2007

112.10

7.48

10.25 7/15/2017

2/22/2007

112.94

7.71

10.00 3/15/2017

4/19/2007

114.65

8.25

9.75 5/15/2017

5/24/2007

109.85

7.53

9.50 7/15/2017

7/19/2007

115.42

7.88

10.00 8/15/2017

8/30/2007

103.39

6.67

9.00 3/15/2017

9/27/2007

121.75

8.31

10.50 7/15/2017

1/24/2008

119.95

8.05

10.50 8/15/2017

8/20/2009

103.61

7.27

8.25 7/15/2017

7/8/2010

111.70

8.11

9.50 7/15/2017

7/22/2010

105.35

7.58

8.38 3/15/2017

9/23/2010

111.64

8.37

9.50 5/15/2017

4/21/2011

101.28

8.10

8.25 6/15/2017

7/21/2011

96.08

7.55

7.00 5/15/2017

9/15/2011

99.95

6.45

6.25 4/15/2017

10/6/2011

99.05

7.22

7.00 5/15/2017

10/6/2011

78.74

8.42

6.38 4/15/2017

2/9/2012

90.63

7.53

5.63 5/15/2017

8/13/2012

86.63

7.94

6.13 5/15/2017

8/13/2012

86.62

8.12

6.63 5/15/2017

8/30/2012

98.45

6.57

5.25 5/15/2017

10/25/2012

103.44

8.42

8.75 8/15/2017

7/18/2013

102.19

8.13

8.38 3/15/2017

8/1/2013

101.71

7.00

7.88 4/15/2017

8/29/2013

104.17

7.60

8.38 3/15/2017

8/29/2013

107.65

8.00

9.00 3/15/2017

9/12/2013

101.11

8.13

8.25 5/15/2017

7/9/2015

106.19

8.01

8.75 5/15/2017

8/6/2015

96.58

7.89

7.50 8/15/2017

11/10/2016

(5)

Key Statistic

Ticker

Closing Price

Change (%)

P/E (x)

P/S (x)

P/B (x)

ROA (%)

ROE (%)

25.62 AALI 15,425.00 (1.12) 16.22 2.15 1.83 7.37 11.98 BWPT 358.00 - #N/A N/A 5.11 1.81 (2.38) (6.22) SSMS 1,645.00 - 32.26 6.67 5.18 7.62 16.52 LSIP 1,590.00 (0.63) 25.62 2.91 1.48 4.79 5.88 DSNG 540.00 (0.92) 32.69 1.52 2.36 2.21 7.57 22.32 ADRO 1,690.00 (0.59) 22.32 1.73 1.33 2.94 6.10

INCO 2,790.00 1.45 #N/A N/A 3.57 1.14 (0.37) (0.46)

ITMG 15,425.00 0.82 22.90 0.96 1.45 4.02 5.58 PTBA 10,750.00 - 14.72 1.75 2.39 9.47 16.78 29.08 AISA 1,955.00 (0.26) 15.22 0.97 1.70 4.83 11.82 UNVR 42,725.00 0.29 50.77 8.35 51.40 39.22 106.11 ULTJ 4,450.00 0.23 19.09 2.81 3.86 18.22 22.49 ICBP 8,450.00 0.60 29.08 2.89 5.87 12.50 21.47 KLBF 1,485.00 - 31.53 3.64 6.16 15.80 20.70 MYOR 1,885.00 - 40.25 2.85 7.49 10.62 24.10 ROTI 1,535.00 (2.23) 27.60 3.18 5.81 10.50 22.95 SIDO 570.00 - 18.02 3.38 3.29 16.69 18.00 21.06 ACES 780.00 - 19.79 2.75 4.69 20.43 25.30 AKRA 6,500.00 (0.38) 26.32 1.64 3.95 6.22 15.65 LPPF 14,500.00 (2.03) 21.06 4.35 - 54.40 -SRTG 3,430.00 (0.29) 1.54 1.46 0.50 29.20 41.05 MIKA 2,400.00 0.42 52.73 14.76 10.36 17.46 20.29 MNCN 1,510.00 (0.98) 10.68 3.17 2.28 13.61 22.48 UNTR 22,825.00 (4.20) 60.43 1.89 2.21 2.14 3.58 18.30 APLN 230.00 0.88 5.12 0.72 0.62 3.51 12.85 ASRI 388.00 - 6.39 3.03 1.05 6.44 18.13 PWON 575.00 (0.86) 19.69 5.90 3.34 7.19 18.65 BSDE 1,885.00 (0.79) 23.31 6.27 1.82 4.31 8.18 CTRP - - 35.65 2.28 0.92 1.23 2.63 CTRA 1,385.00 (0.36) 20.91 3.26 2.44 3.15 9.93 CTRS - - 12.65 2.93 1.62 6.41 13.90 DILD 496.00 (0.80) 12.93 2.23 1.05 3.69 8.41 KIJA 296.00 - 9.80 2.19 1.22 6.31 13.21 LPKR 765.00 - 15.37 1.86 0.93 2.65 6.45 SMRA 1,405.00 - 446.26 4.28 3.37 0.56 1.76

SSIA 565.00 - #N/A N/A 0.66 0.89 (0.80) (1.84)

ADHI 2,190.00 (2.23) 16.92 0.62 1.51 2.87 12.89 WIKA 2,510.00 - 26.17 1.12 3.60 3.20 14.46 WSKT 2,590.00 0.78 20.02 1.44 3.42 4.30 16.91 LPCK 4,800.00 0.21 5.27 1.87 0.82 11.96 17.08 MDLN 330.00 (0.60) 6.90 1.78 0.68 4.65 10.36 JRPT 865.00 - 12.68 5.19 2.63 12.01 22.44 13.38 CPIN 3,450.00 (1.43) 18.41 1.57 3.88 12.74 23.24 INTP 15,575.00 (0.32) 13.38 3.53 2.25 15.90 17.76 MAIN 1,300.00 0.78 - 0.55 1.63 6.22 17.27 SMBR 2,220.00 0.91 82.27 14.84 7.23 7.46 8.98 SMCB 900.00 1.12 #N/A N/A 0.71 0.83 2.05 4.81 SMGR 9,475.00 (0.26) 13.22 2.09 2.05 11.05 16.16 18.87 ASII 7,875.00 (2.78) 23.19 1.79 3.02 5.44 13.34 AUTO 2,200.00 (2.22) 24.99 0.84 1.15 2.89 4.62 SMSM 1,020.00 - 14.56 2.09 4.36 18.00 31.13 SRIL 276.00 - 6.25 0.59 1.25 7.72 21.69 11.08 BBCA 15,475.00 (0.16) 19.29 6.02 3.50 3.18 20.27 BBNI 6,250.00 0.81 10.22 2.18 1.34 2.04 13.86 BBRI 11,875.00 (1.04) 11.08 2.71 1.98 2.78 20.21 BBTN 2,100.00 0.48 8.50 1.21 1.16 1.36 15.88 BDMN 4,800.00 (0.83) 15.26 1.77 1.28 1.63 8.67 BMRI 11,075.00 (1.12) 14.55 2.63 1.72 1.42 13.60 BTPN 2,620.00 0.77 8.88 1.08 0.97 2.08 12.02 BBKP 610.00 (0.81) 5.31 0.53 0.60 1.10 12.51 BJTM 580.00 0.87 8.42 1.70 1.20 2.40 15.23 BJBR 2,290.00 (0.87) 13.19 1.95 2.31 1.70 19.96 14.60 CMNP 1,490.00 (0.33) 9.38 1.99 1.13 8.29 12.79 EXCL 3,140.00 (0.32) - 1.46 1.58 0.66 2.13 TBIG 5,475.00 0.46 14.60 5.15 16.09 6.63 72.69 SOCI 300.00 (1.96) 3.88 1.12 0.57 8.57 15.86 JSMR 4,740.00 (0.42) 17.15 1.95 2.51 4.19 15.68 PGAS 2,820.00 (0.35) 15.22 1.66 1.65 5.22 11.21 TLKM 3,860.00 (0.26) 20.40 3.37 4.58 11.12 24.19 TOWR 3,500.00 1.45 8.12 7.25 3.59 22.01 63.38 Top Gainers (%) 1 2 3 4 5

INCO TOWR SMCB SMBR APLN

MISCELANEOUS INDUSTRY, MEDIAN PER=

FINANCE, MEDIAN PER=

INFRASTRUCTURE, MEDIAN PER= AGRICULTURE, MEDIAN PER=

MINING, MEDIAN PER=

CONSUMER GOODS, MEDIAN PER=

TRADING, MEDIAN PER=

PROPERTY & KONSTRUKSI MEDIAN PER=

(6)

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Jakarta – Kebon Jeruk

Plaza Kebon Jeruk

Jl.Raya Perjuangan Blok A/2

Jakarta 11530

T. +62 21 5324074

F. +62 21 5362157

Denpasar

Dewata Square Blok A3

Jl. LetdaTantular Renon

Denpasar 802361

T. +62 361 225099

F. +62 361 245099

Solo

Jl. Slamet Riyadi 330A

Solo 57145

T. +62 271 736599

F. +62 271 733478

Tangerang

Jl. Pahlawan Seribu Ruko BSD

Sektor 7 Blok RK kav. 9

Tangerang 15310

T. +62 21 5387495

F. +62 21 5387494

Pontianak

Jl. MT Haryono No. 6

Pontianak 78121

T. +62 561 575674

F. +62 561 575670

Bandung

Jl.Cisangkuy No.58

Bandung 40115

T. +62 22 7218200

F. +62 22 7219255

Yogyakarta

Sales Representavive Office

KP BEI Yogyakarta

T. +62 550 123

F. +62

Tasikmalaya

Ruko Tasik Indah Plaza No. 21

Jl. KHZ Mustofa No. 345

Tasikmalaya 46121

T. +62 265 345000

F. +62 265 345003

Jakarta - Centro

Ruko Centro Residence Kav. 4-5

Tower C Lt. 1 No. 26-29

Jl. Macan, Daan Mogot

Jakarta 14450

T. +62 21 56945227

F. +62 21 56945226

Surabaya – Diponegoro

Jl. Bogowonto 25, Darmo

Surabaya 60261

T. +62 31 5670388

F. +62 31 5610528

Balikpapan

Ruko Bukit Damai Indah Blok I, No. 3, Rt. 34

Jl. MT. Haryono, Gunung Bahagia, Balikpapan

Selatan 76114

T. +62 542 746313

F. +62 542 746317

Makassar

Jl. Latimojong RukoLatimojong Indah 46B/16

Makassar-Sulawesi Selatan

T. +62 411 363 2388

F. +62 411 361 4634

Pekanbaru

Jl. Jenderal Sudirman No. 73 (Sudirman bawah)

Pekanbaru – Riau

T. +62 761 840 2987

F. +62 761 840 2987

Medan

Jl. Teuku Amir Hamzah No. 26

Medan 20117

T. +62 61 6638592

F. +62 61 6638023

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IDX CORNER & INVESTMENT GALLERY

STIE Malangkucecwara

Jl. Terusan Candi Kalasan

Malang 65142

T. +62 341 491813

F. +62 341 495619

Universitas Muhammadiyah Gresik

Jl. Sumatra 101 GKB

Gresik 61121

T. +62 31 3951414

F. +62 31 3952585

Universitas Surabaya

Jl. Raya Kalirungkut

Surabaya 60293

T. +62 31 2981203

F. +62 31 2981204

Universitas Muhammadiyah Malang

Jl. Raya Tlogomas 246

Malang 65144

T. +62 341 464318-9

F. +62 341 460782

Universitas Siliwangi Tasikmalaya

Jl. Siliwangi No. 24

Tasikmalaya 46151

T. +62 265 323685

F. +62 265 323534

Politeknik Kediri

Jl. Mayor Bismo No. 27

Kediri 64121

T +62 354 683128

F +62 354 683128

Universitas Negeri Malang

Jl. Surabaya No. 6

Malang 65145

T. +62 341 585914

F. +62 341 55288

Universitas Negeri Makassar

FakultasEkonomiGedung BT Lt. 2

Jl. A. P. Pettarani, Kampus UNM, Gunungsari

Baru

Makassar 90222

T. +62 411 889464, 881244

F. +62 411 887604

Universitas Muhammadiyah Pontianak

Jl. Ahmad Yani, No. 111

Pontianak 78124

T. +62 561 743465

F. +62 561 766840

STIE AAS

Jalan Slamet Riyadi No 361

Kartasura, Surakarta

T. +62 271 726156

F. +62 271 726156

Universitas Tanjungpura Pontianak

Jl. Jendral Ahmad Yani

Pontianak 78124

T. +62 561 743465

F. +62 561 766840

STIE "AUB" Surakarta

Jl. Mr. Sartono 97, Cengklik

Nusukan, Surakarta 57135

T. +62 271 854803

F. +62 271 853084

STIESIA Surabaya

Jl. MenurPumpungan 30

Surabaya

T. +62 31 5947505

F. +62 31 5932218

Universitas Muhammadiyah Sidoarjo

Jl. Majapahit 666 B

Sidoarjo, JawaTimur

T. +62 31 8945444

F. +62 31 8949333

Universitas Pesantren Tinggi Darul Ulum

Kompleks Pp Darul Ulu, Peterongan

Jombang, JawaTimur 60281

T. +62 321 873655

F. +62 321 875771

STIE Tri Bhakti

Jl. Teuku Umar No.24

Cut Meutia Setiakawan, Bekasi

T. +62 21 8242 9400, 8242 9500

F. +62 271 726156

STIKOM BALI

JL. Raya Puputan No. 86, Renon, Denpasar

Timur, kota Denpasar

Bali-80234

T. +62 361 244445

STIKOM BALI

JL. Raya Puputan No. 86, Renon, Denpasar

Timur, kota Denpasar

Bali-80234

T. +62 361 244445

Universitas 17 Agustus 1945 Banyuwangi

Jl. AdiSucipto 26

Banyuwangi, JawaTimur

T. +62 333 419163

F. +62 333 419163

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