: 5,233.5
: +43.3 0.83%
: 9,949 Mn shrs : 9,937 Bn rupiah Last
Close +/- %
BBRI 3,350 160 5.0
BBCA 31,300 425 1.4
BMRI 6,150 175 2.9
ASII 5,400 175 3.3
UNTR 23,525 -750 -3.1
MDKA 1,810 -105 -5.5
CPIN 6,200 -100 -1.6
POLL 3,780 -170 -4.3
Foreign Net Buy / Sell (Regular Market) Net Buy (Rpbn) Net Sell (Rpbn)
BBRI 218 TLKM 116
BBCA 106 TOWR 64
BBNI 103 MDKA 33
INDF 55 GGRM 17
ASII 29 ERAA 14 Money Market
Last
Close +/- %
USD/IDR 14,760 80.0 -0.5
JIBOR O/N 5.9 0.0
Dual Listing Securities Last
Close +/- %
TLKM 19.9 0.1 0.4
EIDO 19.4 0.4 2.2
Global Indices Last
Close +/- %
DJIA 27,977 290 1.0
S&P 500 3,380 47 1.4
Euro Stoxx 3,363 31 0.9
MSCI World 2,392 32 1.4
STI 2,563 19 0.7
Nikkei 23,231 387 1.7
Hang Seng 25,244 353 1.4
Commodities Last
Close +/- %
Brent Oil 45 0.0 -0.1
CPO Malay 2,640 41.0 1.6
Coal (ICE) 50 -1.2 -2.2
Nickel 14,227 -91.0 -0.6
Tin 17,592 -119.3 -0.7
Changes Changes
Leading Movers
Lagging Movers
Changes
Changes
Changes Market Value
Market Activity Wednesday, 12 Aug 2020 Market Index
Index Movement Market Volume
DAILY RESEARCH
Market
Pasar Masih Optimis, IHSG Berpotensi Melanjutkan Penguatan
Pasar saham US bergerak positif didorong oleh kenaikan saham tekonologi dan healthcare. DJIA +1.05% ke level 27,976; S&P500 +1.4%; dan Nasdaq +2.13%. Harga minyak WTI saat ini berada pada level USD 42.6 dengan Brent USD 45.4 dan emas USD 1,938.
Indeks EIDO +2.22% dan IHSG Rabu ditutup +0.83% menjadi 5,233 dengan penopang saham BBRI, BBCA dan BMRI. Net sell asing pada pasar regular mencapai IDR 360.4 miliar. Saham dengan nilai net buy asing tertinggi di pasar reguler dicetak oleh oleh BBRI (IDR 218.7 miliar), BBCA (IDR 106.5 miliar), dan BBNI (IDR 103.9 miliar) sementara net sell dicatatkan oleh TLKM (IDR 116 miliar), TOWR (IDR 64.7 miliar), dan MDKA (IDR 33.6 miliar).
Sentimen mendatang adalah rilis data CAD (Current Account Deficit) Indonesia per 2Q-2020 yang diproyeksikan oleh Bank Indonesia akan berada di bawah 1,5% GDP (1Q-2020 1.4% terhadap GDP). Perkiraan tersebut berdasarkan asumsi membaiknya neraca perdagangan, sejalan dengan penurunan impor akibat melemahnya permintaan domestik. Dari sisi pasar saham, investor asing pada minggu ini masih melakukan net buy pada saham perbankan dan pertambangan, dengan ekspektasi stabilnya harga komoditas pada 2H20 ini. Kami memperkiraan IHSG hari ini masih melanjutkan penguatan didorong oleh pasar domestik yang masih atraktif serta menjelang libur panjang pada pekan depan.
WIKA : Siap tuntaskan proyek luar negeri
CPO : Volume Ekspor 1H20 turun -11.68% yoy Highlights
13 August 2020
Equity Research│13 August 2020
WIKA: Siap tuntaskan proyek luar negeri
PT. Wijaya Karya Tbk (WIKA) menargetkan konstruksi tujuh proyek di luar negeri rampung pada akhir 2020 dan 2021. Hal ini kian memperkuat portofolio proyek perseroan yang tersebar di 11 negara di Asia, Timur Tengah, dan Afrika (Investor Daily)
Comment:
WIKA memang telah terlibat proyek luar negeri beberapa tahun ini. Proyek luar negeri menjadi kesempatan transfer knowledge dan transfer teknologi, selain itu juga memberi imbal hasil yang lebih baik dibanding proyek domestik. Perusahaan menargetkan perolehan kontrak baru luar negeri tahun ini sebesar IDR 5.7 triliun. Perolehan kontrak baru WIKA 1H20 masih sedikit hanya IDR 3.4 triliun, namun perusahaan yakin dapat mencapai total kontrak baru IDR 20 triliun hingga akhir tahun.
WIKA: BUY: 12,7x PE ‘20E, 0,6x PBV ‘20E, TP: Rp 1.750
CPO: Volume Ekspor 1H20 turun -11.68% yoy
Ekspor minyak sawit Indonesia mengalami penurunan hingga 11.68% di semester I 2020. Gabungan Pengusaha Kelapa Sawit Indonesia (GAPKI) mencatat, ekspor minyak sawit dan turunannya di semester I sebesar 15.50 juta ton lebih rendah dari periode yang sama tahun sebelumnya yakni 17.55 juta ton. Namun, ekspor ke India dan Amerika Serikat masih tercatat naik masing-masing 23% dan 7%. Selain ke 2 negara tersebut, ekspor ke negara Pakistan juga tercatat meningkat 1%. Negara lain yang mencatat penurunan ekspor seperti ke China turun 43%, ke Timur Tengah turun 18%, Uni Eropa turun 9%, Bangladesh turun 22%, Afrika turun 11%. (kontan)
Comment:
Pelemahan volume ekspor dikarenakan beberapa faktor, yang pertama adalah efek kemarau panjang
di tahun 2019 serta hujan lebat di awal tahun 2020 membuat produksi CPO berkurang. Selain itu,
tentu saja wabah covid-19 membuat permintaan impor CPO secara global turun. Namun, value ekspor
naik +6.4% menjadi USD 10.06 miliar didukung kenaikan harga CPO. Sedangkan di pasar domestik,
konsumsi CPO masih mengalami kenaikan +2.8%. Kami memaandang industri CPO pada 2H20 akan
lebih baik dengan suplai yang mulai normal serta permintaan ekspor mulai menguat setelah lockdown
berbagai negara dilonggarkan. Permintaan dalam negeri juga masih akan kuat terutama untuk
segmen biodiesel.CPO: Neutral
Equity Research│13 August 2020
JCI Wgt Last price YTD Chg TP SSI TP Cons SSI Upside PE PE PBV PBV ROE ROE
(%) (Rp) (%) (Rp) (Rp) (%) 20E 21E 20E 21E 20E 21E
Banks
BMRI BUY 4.9 6,150 (19.9) 7,700 6,050 25.2 10.0 10.0 1.3 1.2 12.7% 11.6%
BBCA HOLD 13.1 31,300 (6.4) 32,000 32,718 2.2 31.9 25.1 4.4 4.0 13.7% 15.8%
BBRI HOLD 7.0 3,350 (23.9) 3,400 3,407 1.5 16.2 11.5 2.1 1.9 13.2% 16.8%
BBNI BUY 1.6 5,125 (34.7) 6,000 5,126 17.1 12.6 6.2 0.8 0.7 5.4% 10.0%
BBTN HOLD 0.3 1,465 (30.9) 1,500 1,424 2.4 5.1 4.8 0.6 0.5 10.9% 10.6%
BNLI BUY 0.6 1,220 (3.6) 1,376 1,349 12.8 22.6 21.0 1.4 1.3 6.1% 6.1%
Average 16.4 13.1 1.7 1.6 10.3% 11.8%
Consumer (Staples)
ICBP HOLD 2.0 10,150 (9.0) 9,300 11,061 -8.4 20.6 18.4 4.0 3.5 19.6% 19.1%
INDF BUY 1.1 7,050 (11.0) 9,500 8,038 34.8 12.5 11.5 1.6 1.5 12.9% 13.2%
KLBF HOLD 1.3 1,615 (0.3) 1,750 1,684 8.4 25.6 24.5 4.3 3.9 16.8% 16.1%
UNVR BUY 5.3 8,050 (4.2) 9,800 8,901 21.7 38.4 38.0 47.5 46.9 123.7% 123.4%
Average 24.3 23.1 14.4 14.0 43.3% 42.9%
Cigarette
HMSP SELL 3.4 1,720 (18.1) 1,520 1,806 -11.6 20.0 19.8 6.2 6.1 30.9% 30.9%
GGRM BUY 1.7 51,000 (3.8) 71,700 57,227 40.6 16.4 12.8 1.8 1.7 11.2% 13.4%
Average 18.2 16.3 4.0 3.9 21.1% 22.1%
Healthcare
MIKA BUY 0.6 2,300 (13.9) 2,900 2,517 26.1 44.2 42.6 7.5 3.7 17.0% 8.6%
SILO BUY 0.1 4,650 (33.1) 9,000 6,029 93.5 38.4 27.4 1.1 1.1 3.0% 4.0%
HEAL BUY 0.2 3,150 (12.0) 5,000 4,196 58.7 38.4 29.4 4.0 3.5 10.3% 12.0%
Average 40.4 33.1 4.2 2.8 10.1% 8.2%
Poultry
CPIN HOLD 1.7 6,200 (4.6) 5,800 5,554 -6.5 25.5 22.4 4.2 3.7 16.5% 16.7%
JPFA BUY 0.2 1,100 (28.3) 1,500 1,298 36.4 5.9 5.4 1.0 0.9 17.0% 16.2%
MAIN BUY 0.0 615 (38.8) 700 622 13.8 4.1 3.8 0.6 0.5 14.1% 14.0%
Average 11.8 10.5 1.9 1.7 15.9% 15.6%
Retail
MAPI BUY 0.2 695 (34.1) 1,350 849 94.2 9.8 8.7 1.5 1.3 15.4% 14.8%
RALS BUY 0.1 625 (41.3) 1,400 637 124.0 5.4 5.0 0.9 0.9 17.3% 17.3%
ACES BUY 0.5 1,640 9.7 1,900 1,700 15.9 24.1 21.6 5.1 4.5 21.2% 20.7%
Average 13.1 11.7 2.5 2.2 18.0% 17.6%
Pulp and Paper
INKP SELL 0.9 9,475 23.1 7,175 9,800 -24.3 7.0 6.6 0.8 0.7 11.0% 10.7%
Average 7.0 6.6 0.8 0.7 11.0%
Media
MNCN BUY 0.2 955 (41.4) 1,390 1,300 45.5 5.1 4.6 0.9 0.8 17.5% 17.3%
SCMA BUY 0.3 1,260 (10.6) 1,550 1,430 23.0 10.9 10.9 2.9 2.6 26.4% 23.8%
Average 8.0 7.7 1.9 1.7 22.0% 20.5%
Telco
EXCL BUY 0.4 2,430 (22.9) 3,500 3,487 44.0 25.3 23.4 1.3 1.3 5.1% 5.4%
ISAT BUY 0.2 2,390 (17.9) 2,800 3,054 17.2 n/a n/a 1.1 1.1 -9.7% -2.2%
TLKM BUY 5.0 2,950 (24.7) 4,300 3,936 45.8 14.3 13.1 2.4 2.3 16.9% 17.5%
Average 19.8 18.2 1.6 1.6 4.1% 6.9%
Telco Retail
TELE N/A 0.0 N/A N/A 250 N/A N/A N/A N/A N/A N/A 9.1% 8.4%
ERAA HOLD 0.1 1,670 (7.0) 1,625 1,645 -2.7 8.9 7.3 1.0 0.9 11.0% 11.9%
Average 8.9 7.3 1.0 0.9 10.1% 10.1%
Telco Infra
TBIG BUY 0.5 1,290 4.9 1,490 1,400 15.5 26.9 25.3 4.4 3.9 16.5% 15.6%
TOWR BUY 1.0 1,090 35.4 1,300 1,206 19.3 18.5 17.0 6.3 5.1 34.1% 30.0%
Average 22.7 21.2 5.4 4.5 25.3% 22.8%
Stock Rec.
Equity Research│13 August 2020
JCI Wgt Last price YTD Chg TP SSI TP Cons SSI Upside PE PE PBV PBV ROE ROE
(%) (Rp) (%) (Rp) (Rp) (%) 20E 21E 20E 21E 20E 21E
Auto
ASII BUY 3.7 5,400 (22.0) 7,500 5,451 38.9 10.0 9.2 1.1 1.0 10.8% 10.9%
Average 10.0 9.2 1.1 1.0 10.8%
Mining Contracting
UNTR HOLD 1.5 23,525 9.3 22,300 22,487 -5.2 7.3 5.5 1.6 1.1 22.1% 19.7%
Average 7.3 5.5 1.6 1.1 22.1%
Aviation
GIAA BUY 0.1 254 (49.0) 650 290 155.9 2.6 2.2 0.5 0.4 17.5% 16.9%
Average 2.6 2.2 0.5 0.4 17.5%
Property
BSDE BUY 0.3 715 (43.0) 820 987 14.7 10.7 10.2 0.4 0.4 3.7% 3.6%
PWON BUY 0.3 406 (28.8) 650 537 60.1 6.7 6.2 1.1 0.9 16.5% 15.4%
ASRI BUY 0.0 120 (49.6) 360 137 200.0 3.0 3.6 0.2 0.2 7.1% 5.5%
LPKR BUY 0.2 140 (42.1) 380 207 171.4 12.7 10.8 0.3 0.3 2.5% 2.9%
SMRA BUY 0.1 570 (43.3) 1,500 729 163.2 13.0 10.4 1.0 1.0 8.0% 9.2%
CTRA HOLD 0.2 680 (34.6) 650 853 -4.4 14.2 13.6 0.8 0.7 5.5% 5.5%
Average 10.0 9.1 0.6 0.6 7.2% 7.0%
Industrial Estate
SSIA BUY 0.0 348 (46.9) 550 378 58.0 38.7 19.3 0.4 0.4 1.0% 2.0%
DMAS HOLD 0.2 234 (20.9) 250 245 6.8 7.1 6.7 1.5 1.5 21.0% 21.9%
KIJA HOLD 0.1 142 (51.4) 150 150 5.6 12.9 10.9 0.5 0.4 4.0% 3.4%
Average 19.6 12.3 0.8 0.7 8.7% 7.7%
Construction
PTPP BUY 0.1 1,010 (36.3) 2,100 1,061 107.9 4.6 4.3 0.3 0.3 6.5% 7.3%
ADHI BUY 0.0 610 (48.1) 1,800 779 195.1 2.9 2.7 0.3 0.3 10.0% 10.0%
WSKT BUY 0.2 655 (55.9) 1,750 789 167.2 2.9 2.7 0.3 0.2 9.0% 8.7%
WIKA BUY 0.2 1,215 (38.9) 1,600 1,561 31.7 12.7 8.3 0.6 0.6 5.0% 7.1%
Average 5.8 4.5 0.4 0.3 7.6% 8.3%
Cement
INTP HOLD 0.7 11,825 (37.8) 12,200 14,845 3.2 32.8 27.3 1.9 1.9 5.8% 6.9%
SMGR HOLD 1.0 9,850 (17.9) 10,800 11,630 9.6 44.0 26.1 1.7 1.6 3.8% 6.1%
Average 38.4 26.7 1.8 1.7 4.8% 6.5%
Precast
WSBP BUY 0.1 169 (44.4) 410 221 142.6 3.8 3.3 0.5 0.4 12.1% 12.7%
WTON BUY 0.0 282 (37.3) 620 433 119.9 4.0 3.4 0.6 0.5 15.6% 16.0%
Average 3.9 3.4 0.5 0.5 13.8% 14.3%
Oil and Gas
PGAS SELL 0.5 1,220 (43.8) 700 1,300 -42.6 20.7 15.4 0.7 0.7 3.6% 4.6%
AKRA BUY 0.2 2,860 (27.6) 3,800 3,457 32.9 14.8 12.9 1.3 1.3 9.1% 10.0%
MEDC BUY 0.2 540 (37.6) 950 508 75.9 5.4 5.7 0.4 0.4 7.1% 7.0%
Average 13.6 11.4 0.8 0.8 6.6% 7.2%
Chemical
TPIA HOLD 2.3 7,400 (28.7) 7,575 5,383 2.4 60.7 60.7 5.2 5.2 8.6% 8.6%
BRPT BUY 1.5 925 (38.7) 1,075 680 16.2 6.9 6.9 0.4 0.4 6.2% 6.2%
ESSA BUY 0.0 156 (41.8) 280 N/A 79.5 4.6 4.6 0.4 0.4 9.6% 9.6%
Average 24.0 24.0 2.0 2.0 8.2% 8.1%
Utilities
JSMR BUY 0.5 4,120 (20.4) 6,000 5,036 45.6 13.4 12.8 1.5 1.3 11.0% 10.6%
Metal
ANTM SELL 0.3 770 (8.3) 670 780 -13.0 128.3 85.6 1.1 1.2 0.8% 1.4%
MDKA SELL 0.7 1,810 69.2 1,600 1,857 -11.6 23.2 14.3 5.9 4.6 25.2% 31.9%
INCO BUY 0.6 3,540 (2.7) 4,000 3,573 13.0 22.7 19.4 1.4 1.2 6.0% 6.3%
TINS BUY 0.1 760 (7.9) 1,775 934 133.6 n/a 863.6 1.1 1.3 -4.2% 0.1%
Stock Rec.
Equity Research│13 August 2020
JCI Wgt Last price YTD Chg TP SSI TP Cons SSI Upside PE PE PBV PBV ROE ROE
(%) (Rp) (%) (Rp) (Rp) (%) 20E 21E 20E 21E 20E 21E
Coal
ITMG BUY 0.2 8,125 (29.2) 12,070 8,692 48.6 3.1 3.8 1.2 2.2 37.8% 57.3%
ADRO BUY 0.6 1,120 (28.0) 1,600 1,272 42.9 5.8 5.9 0.6 0.6 9.9% 9.3%
PTBA HOLD 0.4 2,060 (22.6) 1,870 2,310 -9.2 8.5 12.9 1.3 1.4 15.7% 10.6%
Average 5.8 7.5 1.0 1.4 21.1% 25.7%
Plantation
AALI BUY 0.3 10,000 (31.4) 11,100 11,319 11.0 29.9 17.6 1.0 1.0 3.4% 5.5%
LSIP BUY 0.1 990 (33.3) 1,145 1,155 15.7 19.0 17.1 0.8 0.8 4.1% 4.4%
TBLA BUY 0.1 820 (17.6) 980 1,028 19.5 5.1 4.8 0.7 0.7 14.3% 14.3%
SIMP BUY 0.1 316 (26.9) 388 330 22.8 28.7 18.6 0.3 0.3 1.2% 1.8%
SSMS BUY 0.1 835 (1.2) 1,050 990 25.7 16.1 11.4 1.8 1.6 11.0% 13.8%
Average 19.8 13.9 0.9 86.2% 6.8% 8.0%
Source: SSI Research, Bloomberg
Note: GIAA, INKP, PGAS, ITMG, ADRO, MEDC, BRPT, INCO, DOID, TPIA report in USD.
Stock Rec.
Equity Research│13 August 2020
Global Data
Chg (Pts)
1D 1D 3D 1W 1M 3M YTD 1YR High Low
World 2,392 32.33 1.37 1.31 1.35 6.12 19.68 1.41 12.05 2,435 1,579
U.S. (S&P) 3,380 46.66 1.40 0.87 1.58 7.14 19.87 4.63 15.52 3,394 2,192
U.S. (DOW) 27,977 289.93 1.05 1.98 2.85 7.25 20.34 (1.97) 6.46 29,569 18,214
Europe 3,363 31.06 0.93 3.40 2.90 0.39 19.66 (10.20) 0.18 3,867 2,303
Emerging Market 1,094 2.75 0.25 0.69 (1.14) 2.11 20.32 (1.86) 12.91 1,151 752
FTSE 100 6,280 125.78 2.04 4.11 2.87 1.68 6.37 (16.74) (13.39) 7,690 4,899
CAC 40 5,073 45.32 0.90 3.76 2.84 0.34 16.76 (15.13) (5.40) 6,111 3,632
Dax 13,059 111.74 0.86 3.03 3.15 2.02 23.86 (1.44) 11.14 13,795 8,256
Indonesia 5,233 43.29 0.83 1.74 2.08 3.34 14.91 (16.92) (15.74) 6,414 3,912
Japan 23,231 386.91 1.69 4.03 3.18 1.96 14.62 (1.80) 13.57 24,116 16,358
Australia 6,125 (7.25) (0.12) 0.24 1.37 2.46 12.97 (8.37) (6.76) 7,197 4,403
Korea 2,448 15.60 0.64 2.58 4.50 11.98 26.16 11.39 27.11 2,458 1,439
Singapore 2,563 19.05 0.75 0.16 1.89 (2.58) (0.34) (20.47) (18.54) 3,286 2,208
Malaysia 1,557 (8.10) (0.52) (1.36) (0.73) (3.10) 11.42 (2.02) (2.28) 1,618 1,208
Hong Kong 25,244 353.34 1.42 2.90 0.56 (2.05) 4.40 (10.45) (0.15) 29,175 21,139
China 3,319 (21.02) (0.63) (1.04) (1.73) (3.60) 14.53 8.82 18.66 3,459 2,647
Taiwan 12,670 (109.84) (0.86) (1.24) (1.03) 3.76 15.84 5.61 22.27 13,032 8,524
Thailand 1,337 14.83 1.12 0.27 0.45 (1.01) 2.86 (15.38) (19.01) 1,680 969
Philipines 5,995 41.06 0.69 2.55 2.77 (2.88) 6.55 (23.29) (23.03) 8,217 4,039
1D 1D 3D 1W 1M 3M YTD 1YR High Low
Foreign Reserves (US$Bn) 135.10 2.57 5.65 4.58 7.31 135.10 120.97
Inflation Rate (yoy, %) 1.54 3.12 1.54
Gov Bond Yld (10yr, %) 6.76 (10.41) 8.38 6.51
US Fed Rate (%) 0.25 2.25 0.25
Chg (Pts)
1D 1D 3D 1W 1M 3M YTD 1YR High Low
Indonesia 14,760 80.00 (0.54) (0.91) (1.42) (2.27) 0.98 (6.06) (3.46) 16,625 13,577
Japan 106.76 (0.15) 0.14 (0.75) (1.13) 0.50 0.25 1.73 (0.02) 112.23 101.19
UK 1.31 0.00 0.19 (0.11) (0.64) 4.01 6.76 (1.49) 8.28 1.35 1.14
Euro 1.18 0.00 0.19 0.58 (0.60) 4.07 9.13 5.29 5.68 1.19 1.06
China 6.94 (0.01) 0.13 0.44 (0.01) 0.87 2.11 0.37 1.74 7.18 6.84
Chg (Pts)
1D 1D 3D 1W 1M 3M YTD 1YR High Low
Oil (Brent) 45.39 (0.04) (0.09) 0.89 0.67 6.25 55.50 (31.23) (25.95) 71.95 15.98
CPO 2,640 41.00 1.58 (2.80) (1.49) 10.74 32.00 (13.50) 20.00 3,140 1,944
Rubber 787.50 0.00 0.00 (0.82) 1.48 0.13 9.38 3.08 5.92 837.50 685.00
Coal 50.05 (1.15) (2.25) (5.92) (6.27) (7.31) (7.57) (26.07) (28.09) 77.25 49.85
Tin 17,592 (119.25) (0.67) (0.90) (1.65) 1.22 14.38 2.41 4.28 18,205 13,375
Nickel 14,258 (92.00) (0.64) (0.85) (1.12) 5.50 15.69 1.66 (9.24) 18,850 10,865
Copper 6,433 46.50 0.73 1.97 (0.95) 0.32 22.37 4.19 12.03 6,633 4,371
Gold 1,929 (8.10) (0.42) (4.83) (6.09) 6.36 12.41 26.98 28.26 2,074 1,446
Source: Bloomberg, SSI Research Commodity Indicators Last Price
Regional Indices Last Price
Exchange Rate (per USD) Last Price
Change (%) 1 Year
Change (%) 1 Year
Change (%) 1 Year
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
Equity Research│13 August 2020
Research Team
Suria Dharma Head of Equity Research, Strategy, Banking,
Consumer (Staple) [email protected] +6221 2854 8148
Ahmad Mikail Zaini Economist [email protected] +6221 2854 8396
William Mamudi, CMT Technical Analyst [email protected] +6221 2854 8382
Yosua Zisokhi Cement , Cigarette,Paper, Plantation,Telco
Infra, Chemical [email protected] +6221 2854 8387
Dessy Lapagu Aviation, Coal, Metal [email protected] +6221 2854 8392
Selvi Ocktaviani Automotive,Construction, Mining Cont.,
Precast,Telco, Toll Roads [email protected] +6221 2854 8393 Ilham Akbar Healthcare, Ind. Estate, Property,Oil & Gas [email protected] +6221 2854 8144
Nashrullah Putra Media, Poultry [email protected] +6221 2854 8144
Calista Muskitta Research Associate [email protected] +6221 2854 8331
Private Wealth Management
Evelyn Satyono Head of PWM / Institutional Sales [email protected] +6221 2854 8380
Ronny Ardianto Institutional Equity Sales [email protected] +6221 2854 8399
Clarice Wijana Institutional Equity Sales [email protected] +6221 2854 8395
Fachruly Fiater Institutional Equity Sales [email protected] +6221 2854 8325
Gitta Wahyu Retnani Institutional Equity Sales [email protected] +6221 2854 8365
Equity Sales Team
Kelvin Long Head of Equities [email protected] +6221 2854 8150
Yulianah Institutional Equity Sales [email protected] +6221 2854 8146
Lucia Irawati Retail Equity Sales [email protected] +6221 2854 8173
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
Teguh Suwarno Fixed Income Sales [email protected] +6221 2854 8384
Sany Rizal Keliobas Fixed Income Sales [email protected] +6221 2854 8337
Online Trading Sales Team
Nugroho Nuswantoro Head of Marketing Online Trading [email protected] +6221 2854 8372 Muhamad Alfatih CSA, CTA, CFTe Senior Technical Portfolio Advisor [email protected] +6221 2854 8129
Wahyu Widodo Marketing [email protected] +6221 2854 8371
