Kamis, 20 Januari 2022
L A P O R A N H A R I A N
Daily Report is also available in BNI Sekuritas website : www.bnisekuritas.co.id
RESEARCH Equity
LAPORAN RISET WIKA: High Expectations in FY22F What’s New:
Maintain BUY with TP of IDR1,350 as WIKA will continue its earnings recovery ahead. We are also positive on its investments in new businesses to diversify its revenue streams.
Key Highlights:
Capital injection to Wika Realty to improve profit contribution.
Invested in minority shareholding in PT Bandara Internasional Batam with ownership of 19%.
Analyst: Maxi Liesyaputra ([email protected])
RINGKASAN BERITA
PT Adhi Karya (ADHI), LRT Jabodebek Ditargetkan Beroperasi Agustus. PT Adhi Karya Tbk (ADHI) mencatatkan progres kemajuan pembangunan prasarana Light Rail Transit (LRT) Jabodebek per tanggal 14 Januari 2022 secara keseluruhan mencapai 88,94%. LRT ketiga yang ada di Indonesia ini ditargetkan beroperasi pada Agustus 2022. General Manager Departemen Perkeretaapian Adhi Karya Isman Widodo menjelaskan, progres paling tinggi dicapai untuk pembangunan lintas pelayanan I Cibubur- Cawang sebesar 94,13%, lalu lintas pelayanan II Cawang- Dukuh Atas 88,79%, dan lintas pelayanan 3 Cawang-Bekasi serta depo sebanyak 85,49%. Dia menjelaskan, tugas yang diterima Adhi Karya dalam proyek ini adalah membangun prasarana LRT Jabodebek dengan konsep engineering and construction. Di mana lingkup tugas ADHI adalah membangun pekerjaan sipil, kemudian pekerjaan trackwork, kemudian pekerjaan stasiun dengan aksesnya, serta pekerjaan depo. (Investor Daily)
Gunawan Dianjaya Steel (GDST) Siapkan Belanja Modal Rp100 Miliar pada 2022. PT Gunawan Dianjaya Steel Tbk (GDST) bersiap melakukan ekspansi pada 2022. Direktur dan Corporate Secretary Gunawan Dianjaya Steel Hadi Sutjipto mengatakan, tahun ini pihaknya menyiapkan belanja modal atau capital expenditure (capex) Rp100 miliar untuk mendukung ekspansi perseroan. "Sebanyak Rp75 miliar akan digunakan untuk penyelesaian pabrik plat mill 2," kata Hadi, Rabu (19/1). Saat ini perseroan tengah membangun pabrik baru, yakni GDS-2 dengan kapasitas produksi 1 juta ton. Perseroan memproyeksikan proyek GDS-2 akan selesai di akhir 2023, dari rencana awal di 2022.
Penyelesaian proyek ini tertunda akibat dampak pandemi.
(Bisnis Indonesia) Global Indices Closing Change %Chg %Ytd P/E
Americas
INDU Index 35,028.65 -339.82 -0.96 (3.60) 19.55
SPX Index 4,532.76 -44.35 -0.97 (4.90) 24.87
CCMP Index 14,340.25 -166.65 -1.15 (8.34) 121.47
IBOV Index 108,013.50 1345.8 1.26 3.04 6.96
EMEA
UKX Index 7,589.66 26.11 0.35 2.78 18.21
CAC Index 7,172.98 39.15 0.55 0.28 21.74
DAX Index 15,809.72 37.16 0.24 (0.47) 15.26
IBEX Index 8,774.90 -6.7 -0.08 0.70 14.51
FTSEMIB Index 27,370.85 -112.43 -0.41 0.09 18.46
AEX Index 772.56 2.86 0.37 (3.18) 20.43
SMI Index 12,525.69 -3.87 -0.03 (2.72) 22.78
Asia / Pacific
NKY Index 27,467.23 -790.02 -2.80 (4.60) 15.57
KOSPI Index 2,842.28 -21.96 -0.77 (4.55) 13.18
SHCOMP Index 3,558.18 -11.734 -0.33 (2.24) 15.22
HSI Index 24,127.85 15.07 0.06 3.12 9.64
TWSE Index 18,227.46 -151.18 -0.82 0.05 14.77
SENSEX Index 60,098.82 -656.04 -1.08 3.17 27.98
SET Index 1,658.24 -2.03 -0.12 0.04 15.14
PCOMP Index 7,261.54 -82.42 -1.12 1.95 23.93
KLCI Index 1,530.33 -12.59 -0.82 (2.37) 15.24
FSSTI Index 3,283.94 3.899 0.12 5.13 20.72
JCI Index 6,591.98 -22.078 -0.33 0.16 24.71
Description Last Previous %Chg
Market Capitalization (IDR Trillion) 8,281.30 8,325.35 -0.53 Transaction Volume (Million Shares) 17,670.00 17,814.18 -0.81 Transaction Value (IDR Million) 10,051.00 10,604.79 -5.22 Stocks Value (IDR) 568.82 595.30 -4.45 Net Foreign (IDR Million) 159,105.75 110,360.75 44.17
Commodities Last Previous %Chg
Nickel (US$/Ton) 22,073.00 22,063.00 0.05
Copper (US$/Ton) 9,676.00 9,731.00 -0.57
Tins (US$/Ton) 42,292.00 41,300.00 2.40
Oil (US$/BBL) (*) 86.96 85.43 1.79 Gas (US$/MMBTU) 8.61 6.80 26.62 Coal (US$/Ton) (**) 223.10 221.00 0.95 CPO MALAYSIA(RM/ton) 5,301.00 5,296.50 0.08 Gold (US$/Troy Ounce) 1,840.45 1,813.74 1.47
JCI Sectors Performance Weighting (%) 1D Chg (%) 5D Chg (%)
JCI Index 100.00 -0.33 -0.83
Financials 24.89 -0.70 -0.84
Consumer Non-Cyclical 11.26 0.49 -1.00
Basic Material 9.68 -0.94 -3.44
Infrastructure 5.93 -0.28 -0.23
Industrials 1.95 -0.82 0.08
Energy 6.31 1.39 2.23
Consumer Cycl 3.97 0.07 0.27
Properties & Real Estate 2.69 0.09 -1.63
Healthcare 2.86 -0.63 -2.13
Technology 3.73 -0.32 -6.38
Transportation & Logistic 0.46 -0.51 -3.06
Kamis, 20 Januari 2022
L A P O R A N H A R I A N RESEARCH Equity
Akumulasi Beli/-Jual Bersih Asing
Nilai Tukar USD/IDR dan IHSG
Pergerakan IHSG
5.200 5.400 5.600 5.800 6.000 6.200 6.400 6.600 6.800
0 5.000.000 10.000.000 15.000.000 20.000.000 25.000.000 30.000.000 35.000.000 40.000.000 45.000.000 50.000.000
04/01/2021 14/01/2021 26/01/2021 05/02/2021 18/02/2021 02/03/2021 15/03/2021 25/03/2021 07/04/2021 19/04/2021 29/04/2021 11/05/2021 27/05/2021 09/06/2021 21/06/2021 01/07/2021 13/07/2021 26/07/2021 05/08/2021 19/08/2021 31/08/2021 10/09/2021 22/09/2021 04/10/2021 14/10/2021 27/10/2021 08/11/2021 18/11/2021 30/11/2021 10/12/2021 22/12/2021 04/01/2022 14/01/2022
Accumulation JCI Index
13.000 13.500 14.000 14.500 15.000 15.500 16.000
4.000 4.500 5.000 5.500 6.000 6.500 7.000
JCI Index USDIDR
0 5.000 10.000 15.000 20.000 25.000 30.000 35.000 40.000
5.200 5.400 5.600 5.800 6.000 6.200 6.400 6.600 6.800
Jan-21 Mar-21 May-21 Jul-21 Sep-21 Nov-21 Jan-22
Volume JCI Index
No Stock Top Value (IDR)
1 BBCA IJ 463,216,300,000 2 BBRI IJ 456,907,600,000 3 ANTM IJ 404,983,200,000 4 TLKM IJ 376,474,700,000 5 BMRI IJ 363,767,700,000
No Stock Top Volume (Shares) 1 RBMS IJ 1,581,793,900.00 2 BIPI IJ 1,409,551,800.00 3 MDLN IJ 685,418,200.00 4 SRSN IJ 635,614,100.00 5 FREN IJ 511,919,300.00
No Top Gainers % Change
1 GPSO IJ 34.62
2 AKSI IJ 22.46
3 IBST IJ 20
4 KONI IJ 19.24
5 MTSM IJ 19.01
No Top Losers % Change
1 BPTR IJ -6.99
2 KOBX IJ -6.99
3 SLIS IJ -6.99
4 TECH IJ -6.92
5 APEX IJ -6.92
No Leading Movers % Change
1 ADMR IJ 18.67
2 CPIN IJ 3.23
3 BUKA IJ 5.11
4 BYAN IJ 2.26
5 INCO IJ 3.60
No Lagging Movers % Change
1 BMRI IJ -3.10
2 BBRI IJ -1.43
3 MDKA IJ -2.54
4 INKP IJ -5.96
5 ASII IJ -0.88
Kamis, 20 Januari 2022
L A P O R A N H A R I A N
3 RESEARCH Equity TARGET HARGA SAHAM
Market Weighting EPS Growth PER PBV PEG DER (x) ROE (%) Total Return % of Free Rec TP (Rp/share) Last Potential
Capitalization (Bn) (%) 1 Year FY21F FY21F Ratio 1 Year (Current) Float Shares 2021 2021 Price Upside
Banking
BBCA IJ Equity 946,136 11.45 20.62 31.25 4.68 1.52 6.97 16.08 10.06 44.88 HOLD 8,050 7,675 4.89%
BBNI IJ Equity 132,405 1.60 157.20 13.34 1.09 0.08 53.54 5.83 14.92 39.96 NOT RATED - 7,100 #VALUE!
BBRI IJ Equity 625,939 7.58 29.76 20.58 2.17 0.69 68.12 10.14 -6.21 43.17 BUY 4,900 4,130 18.64%
BMRI IJ Equity 327,833 3.97 48.95 12.83 1.62 0.26 51.96 11.71 4.17 37.95 BUY 8,400 7,025 19.57%
BBTN IJ Equity 17,791 0.22 45.67 8.50 0.82 0.19 250.45 10.46 -6.67 39.94 BUY 2,200 1,680 30.95%
Cement
SMGR IJ Equity 39,593 0.48 0.45 17.60 1.10 38.93 67.19 7.75 -45.18 48.99 BUY 12,700 6,675 90.26%
INTP IJ Equity 39,297 0.48 2.59 24.45 1.80 9.43 2.26 8.65 -28.45 49.00 BUY 15,500 10,675 45.20%
Telecommunication
TLKM IJ Equity 421,014 5.10 14.80 17.88 3.89 1.21 54.15 22.28 30.81 47.91 BUY 4,790 4,250 12.71%
ISAT IJ Equity 46,764 0.57 -198.20 34.61 2.38 -0.17 215.44 36.91 25.87 57.55 BUY 7,900 5,800 36.21%
EXCL IJ Equity 32,710 0.40 -25.12 26.70 1.62 -1.06 175.72 -3.38 17.78 38.61 BUY 3,770 3,050 23.61%
Automotive
ASII IJ Equity 226,708 2.74 33.04 11.58 1.34 0.35 40.66 10.65 -14.11 45.09 BUY 7,500 5,600 33.93%
Construction
WIKA IJ Equity 9,239 0.11 153.63 23.89 0.66 0.16 157.75 1.78 -50.95 34.93 HOLD 1,085 1,030 5.34%
ADHI IJ Equity 2,938 0.04 #VALUE! #N/A N/A 0.49 #VALUE! 175.28 0.46 -52.45 48.99 HOLD 1,300 825 57.58%
PTPP IJ Equity 5,518 0.07 115.91 19.08 0.51 0.16 132.47 2.14 -55.16 48.94 BUY 1,600 890 79.78%
WSKT IJ Equity 16,276 0.20 -77.04 n.a 1.12 n.a 376.18 -42.28 -64.48 68.86 BUY 1,285 565 127.43%
WTON IJ Equity 1,970 0.02 27.23 16.32 0.57 0.60 82.24 3.85 -45.89 32.41 BUY 320 226 41.59%
TOTL IJ Equity 1,057 0.01 n.a n.a n.a n.a 0.18 8.55 -16.30 32.78 BUY 400 310 29.03%
Toll Road
JSMR IJ Equity 25,185 0.30 113.04 23.85 1.26 0.21 256.03 5.66 -28.16 30.00 BUY 5,000 3,470 44.09%
Property
BSDE IJ Equity 20,536 0.25 49.86 13.64 0.59 0.27 49.67 2.44 -22.09 38.95 BUY 1,400 970 44.33%
CTRA IJ Equity 17,075 0.21 99.05 12.08 1.02 0.12 57.42 13.59 -9.78 46.67 BUY 1,400 920 52.17%
PWON IJ Equity 21,961 0.27 16.50 17.16 1.39 1.04 22.41 7.08 -13.14 31.29 BUY 600 456 31.58%
SMRA IJ Equity 11,767 0.14 261.09 37.37 1.45 0.14 104.10 4.64 -6.00 64.56 BUY 1,200 715 67.83%
Agriculture
AALI IJ Equity 18,669 0.23 165.86 8.15 0.91 0.05 29.22 8.82 -14.91 20.32 BUY 12,000 9,700 23.71%
TBLA IJ Equity 4,194 0.05 6.91 5.80 n.a n.a 164.51 13.86 -12.45 44.65 BUY 1,200 785 52.87%
Metal & Mining
ANTM IJ Equity 41,453 0.50 66.22 18.18 1.99 0.27 40.72 10.31 -35.90 34.95 BUY 3,000 1,725 73.91%
INCO IJ Equity 48,589 0.59 40.00 24.33 1.55 0.61 0.00 6.25 -17.11 20.49 BUY 6,500 4,890 32.92%
TINS IJ Equity 10,092 0.12 -985.43 11.01 1.70 -0.01 126.55 10.01 -33.25 #N/A N/A BUY 1,545 1,355 14.02%
MDKA IJ Equity 87,955 1.06 0.00 133.71 14.08 #DIV/0! 47.76 0.01 63.40 46.87 BUY 4,300 3,840 11.98%
ARCI IJ Equity 11,821 0.14 #N/A #N/A #N/A #N/A 421.11 92.00 #N/A N/A 8.65 BUY 900 476 89.08%
Coal
PTBA IJ Equity 32,373 0.39 157.90 5.14 1.47 0.03 5.50 29.18 1.64 33.77 BUY 3,800 2,810 35.23%
Consumer
UNVR IJ Equity 156,415 1.89 -18.36 25.98 36.37 -1.42 80.51 103.35 -44.07 15.01 BUY 4,480 4,100 9.27%
INDF IJ Equity 56,414 0.68 31.57 7.78 1.20 0.25 67.62 19.09 -1.31 49.92 BUY 9,400 6,425 46.30%
ICBP IJ Equity 102,042 1.24 14.03 15.66 3.05 1.12 63.03 25.76 -7.97 19.47 BUY 13,800 8,750 57.71%
GGRM IJ Equity 59,887 0.73 -25.92 10.08 1.00 -0.39 10.57 10.74 -19.15 23.78 BUY 56,000 31,125 79.92%
HMSP IJ Equity 111,665 1.35 -21.43 14.74 3.73 -0.69 1.03 25.78 -31.08 7.50 SELL 1,100 960 14.58%
MYOR IJ Equity 45,165 0.55 -21.84 26.28 3.77 -1.20 43.13 13.86 -26.19 #N/A N/A HOLD 2,200 2,020 8.91%
SIDO IJ Equity 28,718 0.35 30.97 24.42 8.34 0.79 0.22 36.39 30.65 18.93 BUY 1,050 950 10.53%
Healthcare and Pharmaceutical
KLBF IJ Equity 79,688 0.96 12.34 26.30 4.17 2.13 6.34 16.81 9.33 41.80 BUY 2,000 1,700 17.65%
HEAL IJ Equity 16,751 0.20 -50.62 18.76 5.12 -0.37 46.29 35.89 50.84 36.45 BUY 1,400 1,125 24.44%
MIKA IJ Equity 30,487 0.37 50.38 27.01 5.52 0.54 0.00 24.85 -16.64 38.07 HOLD 2,450 2,140 14.49%
Retail
ACES IJ Equity 22,981 0.28 -26.18 40.15 4.18 -1.53 15.96 10.71 -21.16 40.02 BUY 1,700 1,340 26.87%
ERAA IJ Equity 8,613 0.10 126.98 8.25 1.35 0.06 40.19 18.89 12.74 45.20 BUY 890 540 64.81%
LPPF IJ Equity 9,979 0.12 -189.61 18.38 9.00 -0.10 664.33 19.67 214.04 46.50 HOLD 3,200 3,800 -15.79%
MAPI IJ Equity 12,450 0.15 -136.07 58.11 2.19 -0.43 104.50 -0.60 -1.96 43.97 BUY 810 750 8.00%
RALS IJ Equity 4,400 0.05 -235.22 26.91 1.11 -0.11 16.09 1.62 -21.02 27.25 BUY 795 620 28.23%
Heavy Equipment
UNTR IJ Equity 86,726 1.05 48.77 8.22 1.29 0.17 19.68 13.37 -7.21 40.39 BUY 25,000 23,250 7.53%
Petrochemical
BRPT IJ Equity 76,873 0.93 n.a 57.11 n.a n.a 97.90 7.51 -17.74 27.60 BUY 1,150 820 40.24%
Poultry
JPFA IJ Equity 20,932 0.25 n.a 9.53 n.a n.a 68.06 19.37 21.34 43.55 BUY 2,050 1,785 14.85%
Basic Industry
INKP IJ Equity 41,032 0.50 n.a #N/A N/A n.a n.a 86.13 8.94 -40.92 46.74 BUY 10,100 7,500 34.67%
TKIM IJ Equity 21,793 0.26 n.a #N/A N/A n.a n.a 81.83 9.65 -42.55 34.55 BUY 9,800 7,000 40.00%
Others
ELSA IJ Equity 1,927 0.02 n.a #N/A N/A n.a n.a 47.16 2.70 -34.69 38.90 BUY 274 264 3.79%
Kamis, 20 Januari 2022
L A P O R A N H A R I A N
4 RESEARCH Equity RESEARCH TEAM
Phone : +62 21 25543946 (Hunting) Fax : +62 21 57935831
Email : [email protected] Website : www.bnisekuritas.co.id
Damhuri Nasution [email protected] Head of Research Division & Economist Ext. 3993 Kim Kwie Sjamsudin [email protected] Head of Equity Research Department (Strategy) Ext. 3997 Andri Zakarias Siregar [email protected] Head of Technical Analysis Research Dept. Ext. 2054
(Market Strategy, Currency, Commodities, Bond & Stocks) Aurellia Setiabudi [email protected] Deputy Head of Equity Research Department
(Property, Pharmaceutical, Healthcare, Cigarette)
Maxi Liesyaputra [email protected] AVP Equity Analyst Ext. 3968
(Cement, Construction, Precast Concrete)
Handri Thiono [email protected] Economist Ext. 2030
Ahmad Hapiz [email protected] Fixed Income Analyst Ext. 3978
(Fixed Income Market, Corporate & Government Bond)
Posmarito Pakpahan [email protected] Equity Analyst Ext. 3981
(Banking, Telecommunication, Multifinance)
Firman Hidayat [email protected] Equity Analyst Ext. 2034
(Automotive, Coal, Metal, Heavy Equipment, Plantation) Mikhail Johanes P. Siahaan [email protected] Equity Analyst (Private Construction)
R. Venia Allani Meissalina [email protected] Research Administrator Ext. 2050 Indah Lestari Permata Herlina [email protected] Research Administrator Ext. 2073
Kamis, 20 Januari 2022
L A P O R A N H A R I A N
5 RESEARCH Equity
EQUITY TEAM
CM : +62 21 25543946 (Hunting)
Fax No : +62 21 57935831
Andi Hadiwidjojo ext. 3988 [email protected] Head of Equity Capital Market Anthon Suryasaputra ext. 3973 [email protected] Head of Equity Sales Trading Yulinda ext. 3950 [email protected] Institutional Sales Trader M. Rudi Riyanto ext. 3919 [email protected] Institutional Sales Trader Ardy Fardiansyah ext. 3969 [email protected] Institutional Sales Trader Hendri Bable ext. 3912 [email protected] Institutional Sales Trader Entis Sutisman ext. 3951 [email protected] AVP Institutional Sales M. Ichfan ext. 2029 [email protected] AVP Institutional Sales Ika Agustina ext. 2131 [email protected] Institutional Equity Sales Indra Siswadi Affandi ext. 3903 [email protected] Institutional Equity Sales Rendy Ben Philips ext. 3903 rendy.ben @bnisekuritas.co.id Institutional Equity Sales
Jufrani Amsal ext. 3957 [email protected] Head of Channel Distribution Division Fahma Riniarti ext. 3917 [email protected] Head of Channel Development P. Sariningsih ext. 3984 [email protected] Head of Branch Supervision
Teuku Hafez ext. 2084 [email protected] Branch Manager Mangga Dua, Jakarta Hapsari ext. 2078 [email protected] Branch Manager Puri Indah, Jakarta Fadjar Harjo Suseno ext. 2111 [email protected] Branch Manager Central Park, Jakarta M. Yasrul ext. 2081 [email protected] Branch Manager Wisma Bumiputera Fahmi Lubis ext. 2079 [email protected] Branch Manager Bandung
Rifaat Annur ext. 2091 [email protected] Branch Manager Yogyakarta Agus Purwanto ext. 2090 [email protected] Branch Manager Solo Achmad Ridwan ext. 2088 [email protected] Branch Manager Surabaya Edith Febriana ext. 2082 [email protected] Branch Manager Malang Ni Nyoman Citasti ext. 2080 [email protected] Branch Manager Denpasar Nirmasari Nasution ext. 2083 [email protected] Branch Manager Medan Ari Magdalena ext. 2086 [email protected] Branch Manager Palembang Rini Wati ext. 2085 [email protected] Branch Manager Pekanbaru Susan J Mengko ext. 2102 [email protected] Branch Manager Manado
Melisa ext. 2136 [email protected] Branch Manager Aceh
Yuniar Fariza D ext. 2064 [email protected] Branch Manager Banjarmasin
RESEARCH Equity MAIN OFFICE - JAKARTA
PT BNI SEKURITAS
Sudirman Plaza, Indofood Tower 16th Floor, Jl. Jend. Sudirman Kav. 76-78 Jakarta 12910, Indonesia
Phone: (62-21) 25543946 (Hunting) Fax: (62-21) 57935831 e-mail: [email protected] (General)
Website: http://www.bnisekuritas.co.id JAKARTA - Mangga Dua
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Fax: (62-21) 6123806 e-mail: [email protected]
JAKARTA - Puri Indah
Komplek Ruko Sentra Niaga Puri Indah Blok T1 No.11-12 Kembangan Selatan Jakarta 11610
Phone: (62-21) 58357464 Fax: (62-21) 58357465 e-mail: [email protected]
JAKARTA - Central Park Central Park, APL Tower Podomoro City Jl. Letjen S. Parman Kav 28, Tanjung Duren Selatan, Petamburan
Phone: (62-21) 29034215 Fax: (62-21) 29034216 email: [email protected]
JAKARTA - Wisma Bumiputera Wisma Bumiputera Lt. 18 Jl. Jend. Sudirman Kav. 75 Jakarta 12910
Phone: (62-21) 2523349 Fax: (62-21) 2523350 e-mail: [email protected]
BANDUNG Jl. Perintis Kemerdekaan 3
Bandung - 40117 Phone: (62-22) 4213375
Fax: (62-22) 4220604 e-mail: [email protected]
YOGYAKARTA
Jl. Laksda Adisucipto 137, Yogyakarta - 55282 Phone: (62-274) 581001-584032
Fax: (62-274) 584023 e-mail: [email protected]
SOLO
Jl. Honggo Wongso No. 24, Surakarta Phone: (62-271) 729667, 730525
Fax: (62-271) 729668 e-mail: [email protected]
SURABAYA Jl. Gubernur Suryo No. 36, Surabaya
Phone: (62-31) 5320912 Fax: (62-31) 5318425 e-mail: [email protected]
MALANG Jl. Buring No. 58, Malang Phone: (62-341) 321214,321213,321430
Fax: (62-341) 356876 e-mail: [email protected]
DENPASAR
Komplek Pertokoan Diponegoro Megah Blok A5-6 Lantai 2 Jl. Diponegoro No. 100, Denpasar - Bali
Phone: (62-361) 264376, 2753389 Fax: (62-361) 229170 e-mail: [email protected]
MEDAN
Jl. Pemuda No. 12, Medan - 20151 Phone: (62-61) 4579616
Fax: (62-61) 4579656 e-mail: [email protected]
PALEMBANG
Jl. Jend. Sudirman 132, Palembang - 30126 Phone: (62-711) 361969
Fax: (62-711) 319663 e-mail: [email protected]
PEKANBARU
Jl. Riau, No. 124, Bank BNI Lt. 2, Pekanbaru Phone: (62-761) 46757, 839698
Fax: (62-761) 856279 e-mail: [email protected]
MANADO
BNI KLN Megamas, Lt. 3, Kawasan Mega Mas Blok I C1 Jl. Piere Tendean, No. 20, Manado
Phone: (62-431) 847256 Fax: (62-24) 847256 e-mail: [email protected]
ACEH
Kantor Cabang BNI Banda Aceh Lt.2 Jl. KH. Ahmad Dahlan No. 111, Banda Aceh
Phone: (62-651) 31109 Fax: (62-651) 31107
BANJARMASIN Gd. Bank BNI Antasari Lt. 2 Jl. Pangeran Antasari No. 44 RT 008, Banjarmasin
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Dokumen ini tidak diperuntukan sebagai suatu penawaran, atau permohonan dari suatu penawaran, permintaan untuk membeli atau menjual efek dan segala hal yang berhubungan dengan efek (seperti efek yang disebutkan disini, atau dari emiten yang sama, dari waran atau hak memesan efek atau kepentingan lain dari efek tersebut). Seluruh informasi dan opini yang terdapat dalam dokumen ini dengan cara baik telah dihimpun dari atau berasal dari sumber-sumber yang dapat dipercaya dan diandalkan. Tidak ada pengatasnamaan atau jaminan, baik secara langsung maupun tidak langsung dari BNI SEKURITAS atau pun pihak-pihak lain dari Grup BNI, termasuk pihak-pihak lain dari Grup BNI dari mana dokumen ini dapat diperoleh, terhadap keakuratan atau kelengkapan dari informasi yang terdapat dalam dokumen ini. Seluruh pendapat dan perkiraan dalam laporan ini merupakan pertimbangan kami pada tanggal tertera dan dapat berubah sewaktu-waktu tanpa pemberitahuan.
