Riset Saham Harian
Samuel Equity Research 07 Agustus 2018
www.samuel.co.id Page 1 of 7
IHSG Diperkirakan Menguat Tipis
Bursa AS menguat pada perdagangan terakhirnya didorong oleh baiknya laporan keuangan sejumlah emiten. Dari semua emiten S&P500 yang telah melaporkan kinerjanya, 80% berhasil melebihi ekspektasi. Sementara itu, investor terus memantau perkembangan seputar tarif dan perang dagang AS-China, dimana kedua belah pihak tengah merencanakan implementasi tarif yang lebih besar.
Di dalam negeri, data pertumbuhan ekonomi yang melebihi ekspektasi mendorong kenaikan IHSG sebesar 1,6% kemarin dengan dana asing mencatatkan net buy Rp 376 miliar. Kenaikan pertumbuhan konsumsi domestik dalam data GDP tersebut dinilai sebagai hal positif, namun banyak pihak meragukan kekuatan dari konsumsi tersebut di 2H18 seiring tren kenaikan suku bunga. Melihat penguatan bursa global dan mixed-nya sejumlah bursa saham pagi ini, IHSG diperkirakan cenderung menguat tipis hari ini.
Highlights
BSDE: Launching Klaster Baru: The Zora
TLKM: Berencana menerbitkan MTN senilai Rp 1,5 triliun untuk capex
ASII: Astra financial targetkan pembiayaan Rp7 triliun
Perbankan: Skema baru FLPP untuk pembiayaan perumahan
Arkadia Digital: Mengundang Investor Strategis
: 6,101.1: +93.6 (+1.6%) : 4,050 Mn shrs : 5,327 Bn rupiah CloseLast +/- %
TLKM 3,650 190 5.5
HMSP 3,920 150 4.0
ASII 7,425 300 4.2
BBRI 3,410 80 2.4
TPIA 5,025 -150 -2.9
IIKP 280 -54 -16.2
UNVR 44,725 -225 -0.5
MIKA 1,845 -105 -5.4
Foreign Net Buy / Sell (Regular Market) Net Buy (Rpbn) Net Sell (Rpbn)
BBCA 192 BMRI 41
BBTN 84 SMGR 38
TLKM 64 ASII 35
PTBA 58 PTPP 32
BBNI 36 LPPF 23 Money Market
Last
Close +/- %
USD/IDR 14,480 -15.0 0.1
JIBOR O/N 5.0 0.0 -
Infl (MoM) 0.3 - -
Dual Listing Securities Last
Close +/- %
TLKM 24.9 1.1 4.8
ISAT 62.1 0.6 0.9
EIDO 24.5 0.4 1.6
World Indices Last
Close +/- %
DJIA 25,502 40 0.2
S&P 500 2,850 10 0.4
Euro Stoxx 3,483 1 0.0
MSCI World 2,157 2 0.1
Nikkei 22,547 39 0.2
Hang Seng 27,820 143 0.5
Commodities Last
Close +/- %
Brent Oil 74 -0.1 -0.1
CPO Malay 2,236 12.0 0.5
Coal (ICE) 112 0.0 0.0
Nickel 13,637 136.0 1.0
Tin 19,595 -80.0 -0.4
Market Value
Changes Leading Movers
Market Activity Tuesday, 07 Aug 2018 Market Index Index Movement Market Volume
Changes Changes
Changes
Changes Lagging Movers
Riset Saham Harian
07 Agustus 2018
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BSDE: Launching Klaster Baru: The Zora
PT Bumi Serpong Damai, Tbk (BSDE) melakukan JV dengan Mitsubishi Coproration dan meluncurkan klaster kedua di proyek The Zora (pengembangan di atas lahan 2ha).
ASP sebesar Rp4.15miliar-Rp7.55miliar, dengan luasan 120/198 dan 153/262. PAda saat launching 16unit dari 53unit terjual dengan nilai marketing sales Rp67miliar.
Selain itu, BSDE juga akan mengembangkan di wilayah Upper West (BSD City Tahap II).
(PT Bumi Serpong Damai).
BSDE: BUY: 8.6x P/E18E, 1.3x PBV18E
TLKM: Berencana menerbitkan MTN senilai Rp 1,5 triliun untuk capex
PT Telekomunikasi Indonesia Tbk (TLKM) berencana menerbitkan surat utang jangka menengah (medium term notes/ MTN) senilai Rp 1,5 triliun untuk tambahan belanja modal. Tahun ini TLKM menyiapkan Rp 32,1 triliun, dimana 50% akan digunakan untuk mengembangkan bisnis seluler, serta meningkatkan kualitas jaringan. Hingga 1H18, TLKM telah merealisasikan Rp 14 triliun. (Bisnis Indonesia)
TLKM: HOLD: 18.9x P/E18E, 3.7x PBV18E
ASII: Astra financial targetkan pembiayaan Rp7 triliun
PT Astra International, Tbk (ASII), salah satu anak usahanya Astra Financial mentargetkan total pembiayaan sebesar Rp7tn selama penyelenggaraan pameran International Auto Show (GIIAS) 2018 (2Aug-18Aug 2018).
Adapun unit usaha pembiayaan (multifinance) ASII, hingga 1H18 ACC mencatat penyaluran pembiayaan sebesar Rp13.5tn (+7%Yoy), sedangkan TAF telah menyalurkan Rp4tn dari target FY18E sebesar Rp10tn, sementara FIF membukukan pembiayaan Rp18tn. (Investor Daily).
ASII: BUY: 18.8x P/E18E, 2.7x PBV18E
Perbankan: Skema baru FLPP untuk pembiayaan perumahan
Skema baru subsidi untuk masyarakat berpenghasilan rendah, yakni 75% dana pemerintah dan 25% dana pihak lain, kemungkinan PT Sarana Multigriya Finansial, diharapkan dapat mendorong pembangunan rumah menjadi 70 ribu unit. Rencana itu akan diimplementasikan mulai 20 Agustus 2018.
Sebelumnya, porsi dana pemerintah 90% dan dana perbankan 10%, dengan target 60.625 unit rumah.
Hingga 1H18, capaian rumah subsidi yang telah didanai FLPP sebanyak 12.455 unit senilai Rp 1,43 triliun. (Investor Daily)
Comment:
Skema baru FLPP itu menguntungkan BBTN sebagai penyalur KPR subsidi terbesar.
Dengan skema itu, BBTN tidak perlu menyiapkan dana sendiri, apalagi biaya dana
cenderung naik seiring tren kenaikan suku bunga. Saat ini BBTN menggunakan SSB
Riset Saham Harian
07 Agustus 2018
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(Subsidi Selisih Bunga) untuk KPR subsidi-nya. Rencananya nanti akan menggunakan skema baru FLPP itu.
Kami lihat segmen KPR subsidi BBTN menjadi penopang kinerja bank ini dengan pertumbuhan yang tinggi dan NPL yang relatif rendah. Sementara segmen KPR non- subsidi dikhawatirkan akan mengalami kenaikan NPL dan penurunan marjin seiring tren kenaikan suku bunga. Kami merekomendasikan Hold untuk BBTN dengan TP 2.800.
Banking: Overweight, BBTN: Hold; 18E’ PE: 8.5x, PBV: 1.2x
Arkadia Digital: Mengundang Investor Strategis
PT Arkadia Digital Media berencana untuk melakukan IPO dan melepas 54,55% saham kepada publik. Harga IPO berada di kisaran Rp200 – Rp400 per lembar saham, dengan potensi perolehan dana IPO sekitar Rp30 – 60 miliar. Manajemen menyatakan akan menawarkan 100 juta saham baru dan 50 juta saham lama selama masa bookbuilding.
Oleh karena itu, perseroan tidak akan meraih seluruh dana hasil pelepasan saham yang maksimum 54,55%.
Adapun perseroan mengalokasikan 34% dari dana IPO untuk meningkatkan infrastruktur dan kebutuhan perangkat keras di seluruh anak usaha, sedangkan 53% untuk kebutuhna pengembangan platform dan perangkat lunak, 13% untuk keperluan modal kerja perusahaan dan seluruh anak usaha. Perusahaan memiliki 7 media online antara lain:
matamata.com, hitekno.com, bolatimes.com. (Investor Daily).
Arkadia Digital Media: Non – Coverage.
Riset Saham Harian
07 Agustus 2018
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Stock Rec. JCI Wgt Last price 1D Chg YTD Chg TP Cons TP SSI Upside PE PE PBV PBV ROE ROE
(%) (Rp) (%) (%) (Rp) (Rp) (%) 18E 19E 18E 19E 18E 19E
Banks
BMRI BUY 5.0 7300 1.4 (8.8) 8173 8200 12.3 14.4 12.6 1.9 1.7 13.1% 13.4%
BBCA HOLD 8.5 23800 1.5 8.7 24372 26250 10.3 23.2 21.2 3.9 3.4 16.9% 16.2%
BBRI BUY 6.1 3410 2.4 (6.3) 3704 3800 11.4 13.2 11.8 2.3 2.0 17.2% 16.9%
BBNI BUY 2.2 8200 3.8 (17.2) 9081 9050 10.4 10.3 8.8 1.4 1.3 13.7% 14.3%
BBTN HOLD 0.4 2660 8.6 (25.5) 3324 2800 5.3 8.5 7.3 1.2 1.0 13.6% 13.9%
BNLI BUY 0.2 545 3.8 (12.8) 552 890 63.3 15.1 14.7 0.7 0.6 4.4% 4.4%
Average 14.1 12.8 1.9 1.7 13.1% 13.2%
Consumer (Staples)
ICBP BUY 1.5 9000 2.6 1.1 9507 10200 13.3 25.0 23.0 4.8 4.3 19.1% 18.6%
INDF BUY 0.9 6600 3.5 (13.4) 8471 8400 27.3 12.5 11.3 1.7 1.6 13.6% 13.8%
KLBF BUY 0.9 1300 0.0 (23.1) 1404 1650 26.9 22.0 19.8 4.1 3.7 18.5% 18.6%
ROTI HOLD 0.1 930 0.0 (27.1) 930 900 -3.2 25.8 19.8 2.9 2.6 11.1% 12.9%
UNVR HOLD 5.0 44725 (0.5) (20.0) 46353 49900 11.6 43.9 40.7 56.1 51.0 127.7% 125.2%
Average 25.9 22.9 13.9 12.6 38.0% 37.8%
Cigarette
HMSP SELL 6.7 3920 4.0 (17.1) 4128 3900 -0.5 35.3 33.1 12.0 10.9 34.0% 32.8%
GGRM BUY 2.1 74375 (0.8) (11.2) 84233 83700 12.5 19.1 18.6 2.8 2.5 14.8% 13.6%
Average 27.2 25.8 7.4 6.7 24.4% 23.2%
Healthcare
MIKA BUY 0.4 1845 (5.4) 1.9 1941 2050 11.1 36.0 29.6 5.4 4.3 14.9% 14.6%
SILO UR 0.1 3030 4.5 (68.4) 6560 3250 7.3 44.8 38.8 0.6 0.5 1.4% 1.4%
Average 40.4 34.2 3.0 2.4 8.2% 8.0%
Poultry
CPIN BUY 1.1 4650 (1.3) 55.0 4994 5500 18.3 18.2 16.1 4.1 3.5 22.5% 21.6%
JPFA BUY 0.3 2020 (4.3) 55.4 2447 2750 36.1 8.4 7.3 1.9 1.5 22.3% 21.2%
MAIN BUY 0.0 1080 5.9 45.9 1248 1400 29.6 7.3 5.0 1.0 0.8 13.2% 16.7%
Average 11.3 9.5 2.3 2.0 19.3% 19.8%
Retail
MAPI BUY 0.2 875 1.7 41.1 971 930 6.3 29.2 18.6 3.6 3.1 12.3% 16.4%
RALS BUY 0.1 1310 (0.8) 9.2 1557 1550 18.3 22.2 19.6 2.5 2.4 11.2% 12.2%
ACES BUY 0.3 1385 1.1 19.9 1541 1550 11.9 26.6 22.7 6.8 5.7 25.4% 25.3%
LPPF BUY 0.3 6800 (4.2) (32.0) 10463 13200 94.1 9.2 8.6 5.8 4.3 63.2% 50.6%
Average 21.8 17.4 4.7 3.9 28.0% 26.2%
Media
MNCN BUY 0.2 1080 3.8 (16.0) 1509 1500 38.9 9.6 9.2 1.6 1.5 16.5% 15.8%
SCMA BUY 0.5 2100 4.0 (15.3) 2694 3000 42.9 17.1 13.3 6.2 4.8 36.3% 35.8%
Average 13.3 11.3 3.9 3.1 26.4% 25.8%
Telco
EXCL BUY 0.4 2850 4.4 (3.7) 3715 4200 47.4 38.0 23.9 1.4 1.3 3.6% 5.5%
ISAT BUY 0.3 3490 4.2 (27.3) 4081 7400 112.0 7.1 6.5 1.2 1.1 16.3% 16.2%
TLKM HOLD 5.4 3650 5.5 (17.0) 4179 3700 1.4 18.9 18.8 3.7 3.4 19.7% 18.3%
TOWR BUY 0.4 555 1.8 (30.6) 866 900 62.2 9.6 8.7 1.9 1.7 20.2% 19.2%
Average 18.4 14.5 2.0 1.9 14.9% 14.8%
Auto and HE
ASII BUY 4.4 7425 4.2 (10.5) 8365 9400 26.6 14.9 13.3 2.2 2.0 14.7% 14.7%
UNTR BUY 2.0 35800 2.6 1.1 41730 41500 15.9 16.0 12.4 2.6 2.3 16.2% 18.3%
Average 15.4 12.9 2.4 2.1 15.4% 16.5%
Aviation
GIAA HOLD 0.1 232 0.9 (22.7) 291 295 27.2 170.0 16.8 0.4 0.4 0.3% 2.1%
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Property
BSDE BUY 0.4 1350 0.7 (20.6) 2001 2350 74.1 4.9 4.5 0.7 0.6 14.6% 13.6%
PWON BUY 0.4 545 1.9 (20.4) 709 767 40.7 13.3 11.1 2.2 1.9 16.8% 17.2%
ASRI HOLD 0.1 336 3.7 (5.6) 410 310 -7.7 5.7 5.4 0.7 0.6 11.9% 11.2%
SMRA SELL * 0.2 770 0.7 (18.5) 1062 782 1.6 30.8 29.1 1.4 1.5 4.6% 5.1%
SSIA HOLD 0.0 590 0.9 14.6 742 490 -16.9 141.8 95.8 0.7 0.7 0.5% 0.7%
CTRA BUY 0.3 1005 3.1 (15.2) 1385 1580 57.2 20.3 19.0 1.0 1.0 5.0% 5.1%
DMAS HOLD 0.1 127 0.8 (25.7) 200 156 22.8 9.2 8.7 0.8 0.7 8.7% 8.4%
KIJA SELL 0.1 220 0.0 (23.1) 240 210 -4.5 49.4 43.1 0.8 0.7 1.5% 1.7%
Average 34.4 27.1 1.0 1.0 7.9% 7.9%
Construction
PTPP BUY 0.2 2010 3.1 (23.9) 3373 3350 66.7 9.9 9.0 1.1 1.0 10.9% 10.7%
ADHI BUY 0.1 1665 3.7 (11.7) 2649 3250 95.2 9.3 6.5 0.8 0.7 9.1% 11.4%
WSKT BUY 0.4 2180 4.8 (1.4) 2915 3250 49.1 8.0 7.4 1.1 1.1 14.3% 14.8%
WIKA BUY 0.2 1650 5.1 6.5 2169 1850 12.1 10.2 8.2 0.9 0.8 8.6% 9.4%
Average 9.4 7.8 1.0 0.9 10.7% 11.6%
Cement
INTP SELL 0.8 15200 2.7 (30.8) 16327 13300 -12.5 20.4 17.3 2.0 1.8 9.6% 10.5%
SMGR BUY 0.8 9000 0.8 (9.1) 9349 12000 33.3 15.1 13.8 1.6 1.5 10.7% 10.7%
SMCB SELL 0.1 750 (1.3) (10.2) 682 700 -6.7 -10.3 -12.3 0.8 0.8 -7.7% -6.6%
Average 8.4 6.3 1.5 1.4 4.2% 4.9%
Precast
WSBP BUY 0.2 420 2.4 2.9 606 580 38.1 9.9 8.4 1.2 1.0 12.4% 12.5%
WTON BUY 0.1 394 1.0 (21.2) 661 750 90.4 8.2 7.2 0.8 0.7 10.2% 9.8%
Average 9.0 7.8 1.0 0.9 11.3% 11.2%
Oil and Gas
PGAS BUY 0.6 1775 0.9 1.4 2301 3000 69.0 12.4 10.8 1.1 1.0 9.1% 9.7%
AKRA BUY 0.3 4250 0.47 -33.1 5388 6000 41.2 9.1 11.8 1.9 1.7 20.4% 14.3%
TPIA SELL * 1.3 5025 -2.9 -16.3 5412 5480 9.1 20.5 18.5 3.4 3.0 16.8% 16.2%
BRPT HOLD 0.5 1815 0.6 -19.7 2458 2400 32.2 12.4 11.1 0.9 0.8 7.6% 7.4%
MEDC BUY 0.3 1000 0.0 12.4 1523 2000 100.0 6.9 5.2 1.0 0.8 13.8% 15.9%
Average 12.3 11.5 1.7 1.5 13.5% 12.7%
Utilities
JSMR BUY 0.5 4960 (0.8) (22.5) 5688 7500 51.2 14.9 11.3 2.1 1.9 14.3% 16.8%
Metal
ANTM BUY 0.3 935 3.9 49.6 1212 1050 12.3 85.0 42.5 1.4 1.3 1.6% 3.1%
INCO BUY 0.6 4220 1.7 46.0 5188 5200 23.2 29.6 28.8 1.6 1.6 5.3% 5.4%
TINS BUY 0.1 865 2.4 11.6 1270 1150 32.9 13.1 10.7 1.1 1.0 8.1% 9.4%
Average 42.6 27.3 1.3 1.3 5.0% 6.0%
Coal
DOID BUY 0.1 735.0 -3.3 2.8 1528.3 1450 97.3 5.0 4.6 1.7 1.3 34.4% 27.3%
ITMG BUY 0.5 28700 (1.0) 38.6 33032 32500 13.2 10.4 9.8 2.2 2.0 20.8% 20.8%
ADRO BUY 0.9 1960 1.0 5.4 2631 2400 22.4 7.1 6.7 1.1 1.0 15.0% 14.5%
PTBA BUY * 0.8 4580 1.8 86.2 4617 4450 -2.8 12.3 13.9 3.5 3.1 28.1% 22.0%
Average 8.7 8.7 2.1 1.8 24.6% 21.2%
Plantation
AALI HOLD 0.4 12400 0.4 (5.7) 13320 13500 8.9 11.1 10.8 1.3 1.2 11.3% 11.1%
LSIP BUY 0.1 1210 0.0 (14.8) 1364 1420 17.4 10.7 10.3 0.9 0.9 8.7% 8.8%
SIMP HOLD 0.1 515 (1.9) 11.0 510 520 1.0 23.4 19.8 0.5 0.5 2.3% 2.7%
Average 15.1 13.6 0.9 0.9 7.5% 7.5%
Source: SSI Research, Bloomberg
Note: GIAA, PGAS, ITMG, ADRO, MEDC, BRPT, INCO, DOID, TPIA report in USD.
Note: *: Under Review
Riset Saham Harian
07 Agustus 2018
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Regional Indices 1D Change
Points 1D 3D 1W 1M 3M YTD 1YR High Low
World 1.95 2,157 0.09 0.45 0.20 2.06 2.88 2.56 9.41 2,250 1,925
U.S. (S&P) 10.05 2,850 0.35 1.32 1.71 3.28 6.65 6.61 14.89 2,873 2,417
U.S. (DOW) 39.60 25,502 0.16 0.66 0.77 4.28 4.70 3.17 15.30 26,617 21,600
Europe 0.90 3,483 0.03 (0.74) (0.83) 1.01 (2.27) (0.59) (0.64) 3,709 3,262
Emerging Market (2.33) 1,071 (0.22) 0.33 (1.51) 1.04 (6.02) (7.55) (0.41) 1,279 1,039
FTSE 100 4.68 7,664 0.06 0.14 (0.48) 0.60 1.28 (0.31) n/a 7,904 6,867
CAC 40 (1.80) 5,477 (0.03) (0.39) (0.26) 1.89 (0.98) 3.10 5.17 5,657 4,995
Dax (17.55) 12,598 (0.14) (1.09) (1.56) 0.82 (2.70) (2.47) 2.78 13,597 11,727
Indonesia 93.59 6,101 1.56 1.12 1.21 7.13 3.67 (4.00) 6.12 6,693 5,558
Japan 39.39 22,547 0.18 0.15 (0.03) 3.48 0.35 (0.96) 12.42 24,129 19,240
Australia (12.08) 6,261 (0.19) 0.32 (0.31) (0.18) 2.90 3.23 8.44 6,306 5,639
Korea (5.65) 2,281 (0.25) 0.47 (0.63) 0.35 (7.33) (7.56) (4.92) 2,607 2,244
Singapore 19.61 3,285 0.60 (1.31) (0.66) 2.93 (7.01) (3.46) (1.06) 3,642 3,176
Malaysia (0.34) 1,780 (0.02) (0.48) 0.54 6.97 (2.65) (0.95) 0.10 1,896 1,658
Hong Kong 143.24 27,820 0.52 (1.84) (3.18) (1.75) (7.25) (7.02) 0.47 33,484 26,864
China (35.29) 2,705 (1.29) (4.23) (5.71) (1.53) (13.76) (18.20) (17.51) 3,587 2,691
Taiwan 11.67 11,024 0.11 (0.67) (0.09) 3.92 3.95 3.58 4.20 11,270 10,189
Thailand (15.85) 1,696 (0.93) (1.50) (0.33) 5.05 (4.69) (3.28) 7.79 1,853 1,556
Philipines (2.08) 7,817 (0.03) (0.27) 0.57 8.77 3.77 (8.66) (2.19) 9,078 6,924
Monetary Indicators 1D Change
Points 1W 1M 3M YTD 1YR High Low
JIBOR Overnight (%) 0.01 5.01 0.37 (10.64) 15.91 28.53 15.26 6.06 3.89
Foreign Reserve (US$bn) n/a 119.84 n/a (2.50) (4.89) (7.96) (2.64) 131.98 119.84
Inflation Rate (%) n/a 0.28 n/a (52.54) 180.00 (60.56) 27.27 0.71 (0.07)
US Fed Rate (%) 0.00 2.00 0.00 0.00 14.29 33.33 60.00 2.00 1.25
Indo Govt Bond Yld (10yr) - % 0.00 7.80 0.39 2.19 8.90 23.37 12.95 7.93 6.09
Exchange Rate (per US$) 1D Change
Currency Points 1D 3D 1W 1M 3M YTD 1YR High Low
Indonesia (15.00) 14480 0.10 (0.28) (0.48) (0.76) (6.30) (6.30) (8.00) 14,565 13,145
Japan (0.10) 111.30 0.09 0.32 0.50 (0.40) 1.25 1.25 (0.49) 114.73 104.56
UK (0.00) 1.29 (0.02) (0.58) (1.39) (2.41) (4.23) (4.23) (0.72) 1.44 1.28
Euro 0.00 1.16 0.03 (0.24) (1.15) (1.65) (3.73) (3.73) (2.02) 1.26 1.15
China 0.03 6.85 (0.39) (0.45) (0.55) (3.08) (5.06) (5.06) (1.93) 6.89 6.24
Commodities Indicators 1D Change
Spot Points 1D 3D 1W 1M 3M YTD 1YR High Low
Oil (0.12) 68.89 (0.17) (0.10) 0.19 (6.65) (2.60) 14.02 39.48 75.27 45.58
CPO 12.00 2,236.00 0.54 (0.18) 2.01 (1.50) (4.53) (10.67) (14.53) 2,876.00 2,140.00
Rubber 0.50 673.50 0.07 0.52 0.45 0.67 5.40 (8.05) (18.21) 857.50 610.50
Coal (0.05) 112.10 (0.04) (0.31) (2.99) (0.49) 13.40 10.28 22.45 118.00 90.60
Iron Ore (0.14) 59.78 (0.23) (2.24) 0.23 0.79 (6.40) (15.54) (18.27) 80.91 57.85
Tin (80.00) 19,595.00 (0.41) (1.66) (2.75) 1.04 (8.20) (2.49) (5.02) 22,104.00 18,866.50
Nickel 135.00 13,685.00 1.00 0.70 (1.26) (1.86) (2.42) 7.25 33.51 16,690.00 10,215.00
Copper (73.00) 6,133.00 (1.18) (0.63) (1.87) (2.37) (10.15) (15.37) (3.75) 7,348.00 5,988.00
Gold (1.10) 1,209.50 (0.09) (0.28) (1.16) (3.69) (7.96) (7.41) (4.02) 1,365.80 1,205.30
Source: SSI Research, Bloomberg
Last Price
Last Price Change (%) 1 Year
Change (%) 1 Year
Last Price Change (%) 1 Year
Change (%) 1 Year
Last Price
DISCLAIMERS : 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 this 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 guaranteed. All rights reserved by PT Samuel Sekuritas Indonesia
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Research Team
Andy Ferdinand, CFA Head of Equity Research, Strategy,
Banking, Consumer (Staple) [email protected] +6221 2854 8148
Ahmad Mikail Economist [email protected] +6221 2854 8396
Muhamad Makky Dandytra, CFTe Technical Analyst [email protected] +6221 2854 8382
Akhmad Nurcahyadi, CSA
Property, Construction, Cement, Toll Road, Aviation, Automotive, Mining Contractor, Cigarette, Healthcare
[email protected] +6221 2854 8144
Arandi Ariantara Oil and Gas, Chemical, Coal, Telco,
Telco Retail [email protected] +6221 2854 8392
Marlene Tanumihardja Consumer (Poultry, Retail, Small Cap),
Pulp and Paper, Media [email protected] +6221 2854 8387
Sharlita Lutfiah Malik Metal, Telco Infrastructure, Plantation,
Small Cap [email protected] +6221 2854 8339
Private Wealth Management
Evelyn Satyono Head of PWM / Institutional Sales [email protected] +6221 2854 8380 Muhamad Alfatih CSA, CTA, CFTe Senior Technical Portfolio Advisor [email protected] +6221 2854 8129 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
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
Online Trading Sales Team
Nugroho Nuswantoro Head of Marketing Online Trading [email protected] +6221 2854 8372
Wahyu Widodo Marketing [email protected] +6221 2854 8371
Aben Epapras Marketing [email protected] +6221 2854 8389
