RISET SAHAM HARIAN
Samuel Equity Research Tuesday, 27 December 2016
www.samuel.co.id 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.
: 5,027.7 : -15.2 (-0.30%) : 4,050 Mn shrs : 5,327 Bn rupiah Last Close +/- % SCMA 2,760 200 7.8 NISP 2,390 190 8.6 BJBR 3,170 190 6.4 NIKL 2,470 490 24.7 ASII 7,325 -200 -2.7 TLKM 3,690 -60 -1.6 ICBP 7,550 -225 -2.9 BBCA 14,450 -100 -0.7
Foreign Net Buy / Sell
Net Buy (Rpbn) Net Sell (Rpbn)
BMRI 33 BBRI 100 PWON 24 TLKM 53 SCMA 21 UNVR 51 CTRP 7 BJBR 48 BMTR 6 ASII 47 Money Market Last Close +/- % USD/IDR 13,452 -1.0 0.0 JIBOR O/N 4.2 0.0 -Infl (MoM) 0.5 -
-Dual Listing Securities Last Close +/- % TLKM 27.8 0.2 0.7 ISAT 39.3 0.0 -0.1 EIDO 22.8 0.2 0.7 World Indices Last Close +/- % DJIA 19,934 15 0.1 S&P 500 2,264 3 0.1 Euro Stoxx 3,274 4 0.1 MSCI World 1,758 -1 0.0 Nikkei 19,403 6 0.0 Hang Seng 21,575 -61 -0.3 Commodities Last Close +/- % Brent Oil 55 0.1 0.2 CPO Malay 3,060 -16.0 -0.5 Coal Newc 90 -0.4 -0.5 Nickel 10,371 -321.8 -3.0 Tin 21,229 164.0 0.8 Market Value Changes Leading Movers Market Activity Tuesday, 27 Dec 2016 Market Index Index Movement Market Volume Changes Changes Changes Changes Lagging Movers
IHSG berpotensi bergerak flat
Pada perdagangan semalam, bursa US ditutup menguat, dengan pergerakan dolar AS dan minyak mencapai rekor tertingginya selama 17 bulan. Minggu ini, aktivitas perdagangan di pasar finansial diprediksi bergerak flat, seiring dengan menurunnya transaksi perdangan menjelang tutup tahun. Sejalan dengan bursa AS, mayoritas bursa Eropa juga ditutup menguat pada perdagangan semalam.
Bursa wilayah Asia Pasifik pagi ini dibuka mixed, setelah libur long weekend, dengan bursa Jepang bergerak dengan kecenderungan menguat. Melihat IHSG yang kemungkinan masih bergerak stagnan menyambut libur Natal dan Tahun Baru 2017, kami memprediksi pergerakan bursa hari ini bergerak flat, selama beberapa hari sampai dengan akhir tahun ini, dalam rangka persiapan bullish nya untuk tahun 2017.
Highlights
Perbankan: Bunga deposito menurun
TLKM: Telkomsel area Sumatera menargetkan teknologi 4G di seluruh area pada 2017
JSMR: Akan pasang sensos inklinometer di ruas tol Purbaleunyi
GDST: Diuntungkan oleh kenaikan harga baja Mining: Tahun 2018 Indonesia Bakal Krisis Timah Utilities : Pemerintah meresmikan pendirian LMAN JPFA: Santori Impor 3,826 Sapi Indukan dari Australia
www.samuel.co.id Page 2 of 7 Perbankan: Bunga deposito menurun
• Suku bunga deposito perbankan menurun drastis di tahun ini. Suku bunga deposito tenor 3 bulan turun dari 8,15% pada Oktober 2015 menjadi 6,84% pada Oktober 2016 sejalan dengan pelonggaran moneter yang dilakukan. Di tahun ini, suku bunga deposito diperkirakan akan meningkat seiring kenaikan suku bunga AS. Bank-bank BUMN menargetkan penyaluran kredit infrastruktur tumbuh 30% pada
tahun depan sejalan dengan berlanjutnya proyek infrastruktur pemerintah. (Investor Daily) Banking: Neutral
TLKM: Telkomsel area Sumatera menargetkan teknologi 4G di seluruh area pada 2017
Anak usaha PT Telekomunikasi Indonesia Tbk (TLKM), Telkomsel area Sumatera, menargetkan dapat menyambungkan teknologi 4G di seluruh kabupaten/kota pada 2017. Saat ini baru 50% dari jumlah kabupaten/kota yang telah tersambungkan teknologi 4G.
Untuk itu, Telkomsel akan memastikan penetrasi pelanggan berkembang sekaligus mengoptimalkan migrasi pelanggan dari 2G ke 4G. (Bisnis Indonesia) TLKM: Buy, 17E’PE: 15.4x; PBV: 3.7x.
JSMR – Akan pasang sensos inklinometer di ruas tol Purbaleunyi
PT Jasa Marga Tbk (JSMR) akan memasang sensor inclinometer di seluruh jembatan bentang panjang yang dibangun, sebagai pendeteksi dini pergeseran tanah seperti yang terjadi di Jembatan Cisomang KM 97 ruas tol Purbaleunyi, Jawa Barat. Inklinometer adalah bagian dari kompas geologi yang mengukur kemiringan suatu bidang terhadap gravitasi.
Saat ini jembatan Cisomang yang dibangun sejak 2002 dan memiliki panjang 236 meter, telah terjadi pergeseran atau deformasi pada pilar kedua Jembatan Cisomang sepanjang 53 meter.
Selama masa perbaikan selama 3 bulan, hanya kendaraan golongan I yang boleh melintas dengan kecepatan maksimal 50 km/jam (Bisnis Indonesia) JSMR: Buy, 17E’PE: 15.7x; PBV: 2.2x.
GDST: Diuntungkan oleh kenaikan harga baja
Naiknya harga baja dunia membuat kinerja GDST membaik dan keluar dari potensi rugi di tahun ini. Pada 9M16, laba bersih tercatat Rp 29 miliar, sementara pada 9M15 rugi Rp 75 miliar.
Adanya proteksi pasar baja di sejumlah negara mengganggu kinerja ekspor perusahaan. Saat ini GDST belum bisa mengekspor baja ke Eropa karena proteksi tersebut, sebelumnya pada 3Q15 perusahaan mengekspor baja Rp 49 miliar ke benua tersebut. (Kontan) GDST: Non-Coverage
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Mining: Tahun 2018 Indonesia Bakal Krisis Timah
Menurut data Badan Geologi Kementerian Energi dan Sumber Daya Mineral (ESDM), cadangan timah dalam negeri kini tersisa 587.803 ton. Cadangan timah dalam negeri terus menyusut. Apabila tidak ada eksplorasi baru dalam waktu dekat, dipastikan Indonesia akan mengalami krisis timah dalam waktu satu setengah tahun mendatang
Untuk meningkatkan cadangan timah di masa depan, pemerintah bisa membuat regulasi dalam menjaga keseimbangan antara produksi dan eksplorasi. (Binis Indonesia) Mining: Neutral
Utilities : Pemerintah meresmikan pendirian LMAN
Pemerintah meresmikan pendirian Lembaga Manajemen Aset Negara (LMAN) pada akhir pekan lalu. Pelaku usaha kedepannya akan memperoleh kepastian mengenai pengembalian dana talangan untuk lahan jalan tol. Selanjutnya, LMAN yang berada di bawah Kementerian Keuangan tinggal merampungkan aturan teknis berupa peraturan Menteri Keuangan untuk menggunakan anggaran yang telah dialokasikan.
LMAN mendapat alokasi Rp 20 triliun pada APBN 2017 untuk mendanai pengadaan tanah bagi seluruh proyek strategis. (Bisnis Indonesia) Utilities: Neutral
JPFA: Santori Impor 3,826 Sapi Indukan dari Australia
PT Santosa Agrindo (Santori), anak usaha PT Japfa Comfeed Indonesia Tbk. (JPFA), kembali mengimpor 3,826 sapi indukan dari Australia. Sapi – sapi tersebut telah tiba di Dermaga Jamrud Utara, Pelabuhan Tanjung Perak, Surabaya, Minggu (25/12). Santori akan mendistribusikan sapi indukan itu kepada peternak di 25 kabupaten di Jawa Timur pada Semester II-2017. (Investor Daily) JPFA: Buy, 17E’PE: 8.2x; PBV: 1.5x.
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SSI Research's Valuation Summary
Ticker Rec. JCI Wgt Last price 1D Chg 5D Chg 1M Chg YTD Chg TP Cons TP SSI Upside
(%) (Rp) (%) (%) (%) (%) (Rp) (Rp) (%) 16E 17E 16E 17E 16E 17E 16E 17E
Banks
BMRI BUY 4.6 10775 0.2 0.23 6.2 16.5 11031 12400 15.1 14.4 11.2 1.6 1.5 11.3% 13.1% n/a n/a
BBCA BUY 6.5 14450 (0.7) (2.36) (0.5) 8.6 16251 17100 18.3 18.3 15.4 3.2 2.8 17.6% 17.9% n/a n/a
BBRI BUY 4.9 10875 0.0 (3.55) (0.5) (4.8) 13039 13700 26.0 10.3 8.9 1.9 1.6 17.9% 18.1% n/a n/a
BBNI BUY 1.8 5250 (0.9) (1.87) 4.5 5.2 6341 6300 20.0 9.2 7.6 1.1 1.0 12.2% 13.4% n/a n/a
BBTN BUY 0.3 1630 0.0 (4.12) (0.3) 25.9 2045 2300 41.1 7.4 6.2 0.9 0.8 12.4% 13.1% n/a n/a
Average 11.9 9.9 1.7 1.5 14.3% 15.1% n/a n/a
Consumer (Staples) ICBP BUY 1.6 7550 (2.9) (12.46) (8.8) 12.1 10109 10300 36.4 23.7 21.2 5.0 4.4 21.0% 20.8% 17.5 14.9 INDF BUY 1.2 7275 0.3 (6.13) (2.0) 40.6 9916 9900 36.1 16.2 13.7 2.1 1.9 13.2% 14.2% 8.9 8.0 KLBF BUY 1.2 1440 0.7 (5.88) 2.1 9.1 1763 1700 18.1 30.0 26.7 5.7 5.1 19.1% 19.0% 20.6 17.3 ROTI BUY 0.1 1490 (1.3) (1.97) 0.7 17.8 1763 2000 34.2 28.1 21.0 5.3 4.4 18.9% 21.1% 13.2 11.7 ULTJ BUY 0.2 4580 1.8 (0.43) (0.4) 16.1 2703 5300 15.7 21.0 17.2 3.9 3.2 18.7% 18.9% 13.2 11.4 UNVR BUY 5.3 37875 (0.3) (5.25) (5.8) 2.4 43996 45200 19.3 45.3 40.5 53.8 47.2 118.9% 116.6% 31.6 28.9 SIDO BUY 0.1 510 (1.0) (7.27) (7.3) (7.3) 640 700 37.3 15.9 14.2 2.8 2.7 17.7% 18.9% 7.2 5.8 AISA BUY 0.1 1905 (0.3) (4.75) 0.0 57.4 2427 2240 17.6 15.2 11.7 1.6 1.4 10.7% 12.2% 13.8 12.5 Average 25.7 22.1 11.2 9.8 32.5% 32.8% 16.0 14.0 Cigarette HMSP BUY 7.8 3640 0.3 (9.00) (6.9) (3.2) 4255 4390 20.6 35.7 32.0 11.9 10.8 33.3% 33.8% 25.6 23.2 GGRM BUY 2.1 60300 (0.9) (8.01) (3.4) 9.6 77849 77150 27.9 17.7 17.1 2.7 2.4 15.2% 14.1% 11.6 10.7 Average 26.7 24.5 7.3 6.6 24.2% 24.0% 18.6 16.9 Healthcare MIKA HOLD 0.6 2420 (4.7) (3.59) (8.0) 0.8 3109 2950 21.9 52.9 46.4 9.8 8.9 18.5% 19.1% 28.3 25.5 SILO BUY 0.2 10100 0.0 0.75 (0.8) 4.7 11149 12500 23.8 134.7 106.1 5.5 5.0 4.1% 4.7% 19.9 16.2 Average 93.8 76.3 7.6 6.9 11.3% 11.9% 24.1 20.9 Retail MAPI BUY 0.1 4800 0.2 (4.95) 0.2 26.5 5644 6700 39.6 42.5 25.0 2.5 2.3 5.8% 9.0% 8.3 6.6 RALS BUY 0.1 1130 (1.3) (2.16) (4.2) 75.2 1358 1500 32.7 20.5 17.4 2.3 2.1 11.0% 12.1% 16.3 15.3 ACES BUY 0.2 760 (3.2) (12.64) (9.0) (7.9) 973 1000 31.6 21.1 19.5 4.5 4.0 21.2% 20.7% 14.5 12.7 LPPF BUY 0.8 14275 (1.2) (1.55) 1.2 (18.9) 20236 21300 49.2 19.6 17.3 19.1 12.3 97.7% 71.2% 12.9 11.5 Average 25.9 19.8 7.1 5.2 33.9% 28.3% 13.0 11.5 Telco EXCL HOLD 0.4 2250 0.4 (2.60) 5.1 (37.5) 3173 2200 -2.2 281.3 38.8 1.1 1.1 0.4% 2.8% 5.2 4.5 ISAT BUY 0.6 6275 1.6 2.03 2.0 14.1 7661 7200 14.7 42.1 19.4 2.5 2.3 6.0% 11.7% 4.1 3.7 TLKM BUY 6.8 3690 (1.6) (3.40) (3.7) 19.4 4692 5000 35.5 18.8 15.4 4.2 3.7 22.3% 24.0% 7.2 6.6 TOWR BUY 0.7 3590 (0.3) (0.28) (0.3) (24.4) 4838 4500 25.3 11.8 10.4 3.4 2.6 28.8% 24.5% 8.6 7.9 Average 88.5 21.0 2.8 2.4 0.1 0.2 6.3 5.7 Auto and HE ASII BUY 5.4 7325 (2.7) (3.30) (3.9) 22.1 8756 9000 22.9 16.1 13.2 2.7 2.3 16.7% 17.2% 13.8 13.3 UNTR BUY 1.3 19675 0.8 (10.47) (10.2) 16.1 24152 25050 27.3 17.0 14.3 1.8 1.7 10.7% 11.9% 4.7 4.1 Average 16.5 13.8 2.2 2.0 13.7% 14.6% 9.2 8.7 Aviation GIAA BUY 0.2 336 1.2 (6.67) (0.6) 8.7 395 445 32.4 17.7 12.9 0.7 0.9 3.8% 7.1% 0.9 3.2 Property BSDE BUY 0.6 1600 (3.6) (9.09) (7.2) (11.1) 2369 2350 46.9 12.5 10.2 1.4 1.2 11.1% 11.8% 9.3 8.1 PWON HOLD 0.5 540 (0.9) (8.47) (22.3) 8.9 727 710 31.5 19.4 18.0 3.3 2.8 16.8% 15.8% 7.7 6.7
KPIG BUY 0.2 1485 6.1 12.93 32.6 5.3 n/a 1810 21.9 34.5 29.1 1.2 1.2 3.5% 4.1% n/a n/a
ASRI HOLD 0.1 334 (2.9) (8.74) (8.7) (2.6) 435 390 16.8 10.4 9.8 0.9 0.9 9.0% 8.8% 5.5 4.7 SMRA BUY 0.3 1255 (3.5) (10.04) (8.4) (23.9) 1706 1750 39.4 27.6 25.9 2.4 2.2 8.5% 8.4% 8.6 7.8 Average 17.5 16.0 2.0 1.8 11.4% 11.2% 7.8 6.8 Construction PTPP BUY 0.4 3540 (1.7) (8.76) (5.9) (3.9) 4780 5100 44.1 21.7 18.6 3.0 2.7 13.9% 14.4% 11.6 10.2 ADHI BUY 0.1 1980 (0.8) (6.16) 3.1 (7.5) 2576 2750 38.9 14.9 12.3 1.3 1.2 8.9% 9.5% 5.5 4.9 WSKT BUY 0.6 2300 0.0 (7.26) (2.1) 37.7 3290 3250 41.3 17.9 14.6 1.7 1.4 9.2% 9.9% 19.8 16.9 WIKA BUY 0.4 2290 (1.3) (8.40) (6.1) (6.3) 3050 3000 31.0 19.9 16.9 2.2 1.9 11.2% 11.4% 12.0 10.4 Average 18.6 15.6 2.1 1.8 10.8% 11.3% 12.2 10.6 Cement INTP SELL 1.0 14800 (1.3) (9.62) 1.2 (33.7) 16301 13500 -8.8 13.2 12.9 2.1 1.9 15.6% 14.4% 6.8 5.8 SMGR HOLD 1.0 9050 1.4 (1.36) 10.4 (20.6) 10350 9000 -0.6 13.8 13.3 1.9 1.7 13.7% 12.9% 5.4 4.5 SMCB SELL 0.1 885 0.6 (3.28) 0.0 (11.1) 920 700 -20.9 -88.5 -36.9 0.8 0.8 -0.9% -2.3% 9.9 8.0 SMBR HOLD 0.5 2570 0.8 (1.91) 2.8 783.2 382 2300 -10.5 77.9 67.6 7.7 6.8 9.9% 10.0% 53.2 47.9 Average 4.1 14.2 3.1 2.8 0.1 0.1 18.8 16.5 Precast WSBP BUY 0.3 535 0.9 (5.31) (5.3) NA 693 690 29.0 26.4 21.0 2.2 2.0 8.4% 9.6% 21.4 16.9 WTON BUY 0.1 820 (0.6) (5.20) 1.2 (0.6) 1102 1150 40.2 25.4 19.4 2.6 2.1 10.2% 10.9% 18.7 14.6 Average 25.9 20.2 2.4 2.1 9.3% 10.2% 20.1 15.7 EV/EBITDA (x) PE PBV ROE
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PGAS BUY 1.1 2520 1.6 (7.69) (3.4) (8.2) 3058 3375 33.9 10.8 9.0 1.3 1.2 12.3% 13.5% 7.1 6.3
JSMR BUY 0.6 4170 1.0 (7.54) 3.2 (20.0) 5720 5000 19.9 15.9 15.7 2.4 2.2 15.3% 13.9% 10.3 9.9
Average 13.4 12.4 1.9 1.7 13.8% 13.7% 8.7 8.1
Coal and Metal
ANTM BUY 0.4 855 (0.6) (3.39) (11.4) 172.3 867 990 15.8 427.5 122.1 1.1 1.1 0.3% 0.9% 35.2 28.0 INCO BUY 0.5 2720 0.7 (16.05) (19.3) 66.4 2811 3500 28.7 209.2 29.6 1.1 1.1 0.5% 3.7% 13.9 9.0 TINS BUY 0.1 1090 (0.5) (7.63) (11.7) 115.8 1153 1200 10.1 109.0 51.9 1.5 1.5 1.4% 2.9% 8.1 7.0 ITMG BUY 0.3 16100 0.2 (6.53) (2.1) 181.2 18207 19000 18.0 13.6 6.9 1.5 1.4 11.3% 19.6% 6.0 6.6 ADRO BUY 1.0 1655 (1.5) (0.30) 0.9 221.4 1828 2100 26.9 14.8 12.5 1.1 1.1 7.6% 8.5% 9.7 8.5 PTBA BUY 0.5 11800 (3.1) (5.60) 0.0 160.8 14121 15000 27.1 19.8 12.2 2.8 2.4 14.1% 19.9% 14.9 9.2 Average 132.3 39.2 1.5 1.4 5.9% 9.2% 14.6 11.4 Plantation AALI BUY 0.6 16300 (1.7) (5.23) (2.0) 7.9 18028 19800 21.5 18.8 17.9 2.0 1.9 10.7% 10.7% 14.2 12.8 LSIP BUY 0.2 1665 (1.5) (8.01) (4.6) 26.1 1791 2050 23.1 23.5 15.0 1.5 1.4 6.3% 9.1% 6.8 5.6 SIMP BUY 0.1 482 (0.8) (3.60) (5.5) 45.2 558 600 24.5 17.2 11.0 0.5 0.5 3.1% 4.9% 5.9 5.5 Average 19.8 14.6 1.3 1.3 6.7% 8.2% 9.0 8.0 Poultry CPIN BUY 0.9 2900 0.0 (10.77) (11.3) 11.5 3734 4500 55.2 13.7 12.2 1.8 1.6 13.0% 12.8% 11.5 10.5 JPFA BUY 0.3 1485 0.3 (11.87) (11.6) 133.9 2326 2200 48.1 8.9 8.2 1.9 1.5 20.7% 18.7% 8.1 10.8 MAIN BUY 0.0 1205 1.3 (3.21) (6.9) (21.0) 1989 1730 43.6 7.0 6.5 1.2 1.0 16.3% 15.6% 10.1 8.3 Average 9.9 9.0 1.6 1.4 16.7% 15.7% 9.9 9.9 Other Sectors AKRA BUY 0.4 5575.0 1.4 -8.6 -16.2 -22.3 7400.0 7600 36.3 20.0 17.8 3.2 2.9 16.2% 16.3% 13.3 10.7 DOID BUY 0.1 480.0 -2.4 -10.3 -14.3 788.9 na 850 77.1 8.6 4.5 2.5 1.6 28.7% 35.9% 4.3 3.9 Average 14.3 11.2 2.9 2.3 22.5% 26.1% 8.8 7.3
Source: SSI Research, Bloomberg
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Regional Indices 1D Change
Points 1D 3D 1W 1M 3M YTD 1YR High Low
World (0.67) 1,758 (0.04) (0.09) (0.02) 2.19 2.54 5.75 5.05 1,776 1,460 U.S. (S&P) 2.83 2,264 0.13 (0.31) 0.25 2.28 5.48 10.76 9.84 2,278 1,810 U.S. (DOW) 14.93 19,934 0.07 (0.20) 0.46 4.08 10.16 14.40 13.57 19,988 15,451 Europe 4.46 3,274 0.14 (0.17) 0.45 7.40 10.02 0.20 (0.32) 3,314 2,673 Emerging Market 0.85 842 0.10 (1.02) (1.02) (1.56) (6.96) 6.08 4.77 930 687 FTSE 100 4.49 7,068 0.06 0.34 0.81 3.32 3.67 13.23 n/a 7,130 5,500 CAC 40 5.05 4,840 0.10 (0.21) 0.13 6.36 9.80 4.37 3.78 4,857 3,892 Dax (6.17) 11,450 (0.05) (0.13) 0.40 7.02 10.16 6.58 6.73 11,480 8,699 Indonesia (15.17) 5,028 (0.30) (2.61) (3.90) (1.84) (6.06) 9.46 11.17 5,492 4,409 Japan 5.27 19,402 0.03 (0.22) 0.05 5.55 16.29 1.93 3.37 19,593 14,864 Australia (16.04) 5,628 (0.28) 0.66 1.72 2.18 3.62 6.27 8.07 5,650 4,707 Korea 3.01 2,041 0.15 0.25 (0.06) 3.36 (1.07) 4.05 2.52 2,074 1,818 Singapore (10.99) 2,871 (0.38) (1.38) (2.27) 0.41 0.74 (0.41) (0.23) 2,981 2,528 Malaysia (6.05) 1,617 (0.37) (1.06) (1.26) (0.62) (3.14) (4.45) (2.79) 1,729 1,601 Hong Kong (61.44) 21,575 (0.28) (0.71) (2.03) (5.06) (7.48) (1.55) (2.54) 24,364 18,279 China 12.42 3,123 0.40 (0.47) 0.14 (4.27) 4.15 (11.77) (13.93) 3,642 2,638 Taiwan 31.90 9,111 0.35 (1.02) (1.39) (0.53) (0.91) 9.26 8.94 9,430 7,628 Thailand 5.25 1,515 0.35 0.44 (0.47) 0.99 1.73 17.64 18.11 1,558 1,221 Philipines (23.50) 6,564 (0.36) (1.43) (4.19) (4.73) (14.00) (5.59) (6.27) 8,118 6,084
Monetary Indicators 1D Change
Points 1W 1M 3M YTD 1YR High Low
JIBOR Overnight (%) (0.00) 4.22 23.59 26.95 6.41 (44.47) (35.25) 8.26 4.20
Foreign Reserve (US$bn) n/a 111.47 n/a (3.10) (1.83) 5.23 11.20 115.67 102.13
Inflation Rate (%) n/a 0.47 n/a 235.71 2450.00 (51.04) 123.81 0.96 (0.45)
US Fed Rate (%) 0.00 0.75 0.00 50.00 50.00 50.00 50.00 0.75 0.50
Indo Govt Bond Yld (10yr) - % 0.03 7.89 (1.15) (1.91) 14.93 (9.75) (9.60) 8.86 6.77
Exchange Rate (per US$) 1D Change
Currency Points 1D 3D 1W 1M 3M YTD 1YR High Low
Indonesia (1.00) 13452 0.01 (0.19) (0.44) 0.23 2.50 2.50 1.43 13,985 12,920
Japan 0.19 117.29 (0.16) 0.21 0.49 (4.56) 2.50 2.50 2.65 121.69 99.02
UK (0.00) 1.23 (0.01) (0.02) (0.70) (1.09) (16.66) (16.66) (17.47) 1.50 1.18
Euro (0.00) 1.05 (0.04) 0.13 0.61 (1.54) (3.78) (3.78) (4.71) 1.16 1.04
China 0.00 6.95 (0.04) (0.07) 0.17 (0.48) (6.55) (6.55) (6.64) 6.96 6.45
Commodities Indicators 1D Change
Spot Points 1D 3D 1W 1M 3M YTD 1YR High Low
Oil 0.14 53.16 0.26 1.28 2.00 15.41 19.01 43.52 39.53 54.51 26.05 CPO (16.00) 3,060.00 (0.52) (1.73) (2.61) 0.92 12.71 23.14 23.04 3,202.00 2,172.00 Rubber 1.00 954.50 0.10 1.17 0.16 14.52 38.74 76.92 67.60 954.50 506.50 Coal (0.45) 89.55 (0.50) 0.67 6.10 (3.19) 21.10 76.98 74.22 112.25 51.75 Iron Ore (0.37) 78.34 (0.47) (0.81) (3.57) 2.65 38.17 80.51 96.83 83.70 40.60 Tin 164.00 21,229.00 0.78 0.93 (0.33) 0.54 7.19 45.49 45.70 21,945.00 13,223.80 Nickel (320.00) 10,410.00 (2.98) (3.88) (4.32) (9.95) (1.14) 18.03 20.49 12,145.00 7,550.00 Copper (49.00) 5,469.00 (0.89) (0.65) (0.49) (6.97) 12.97 16.24 16.56 6,045.50 4,318.00 Gold 0.90 1,132.90 0.08 0.11 (0.71) (3.86) (14.56) 6.85 5.28 1,377.50 1,058.50
Source: SSI Research, Bloomberg
Last Price
Last Price Change (%) 1 Year
Change (%) 1 Year
Last Price
Last Price Change (%) 1 Year
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Research Team
Andy Ferdinand, CFA Head Of Equity Research,Strategy, Banking, Consumer
[email protected] +6221 2854 8148 Rangga Cipta Economist [email protected] +6221 2854 8396 Muhamad Makky Dandytra, CFTe Technical Analyst [email protected] +6221 2854 8382 Akhmad Nurcahyadi, CSA Auto, Aviation, Cigarette, Construction
Healthcare, Heavy Equipment, Property
[email protected] +6221 2854 8144 Arandi Ariantara Cement, Telecommunication, Utility [email protected] +6221 2854 8392 Marlene Tanumihardja Poultry, Retail, Small Caps [email protected] +6221 2854 8387 Sharlita Lutfiah Malik Mining, Plantation [email protected] +6221 2854 8339 Adde Chandra Kurniawan Research Associate [email protected] +6221 2854 8338
Private Wealth Management
Evelyn Satyono Head of PWM /
Head of Institutional Marketing
[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 Wahyudi Budiono Dealer [email protected] +6221 2854 8152
Equity Sales Team
Kelvin Siwah Long Head of Equities [email protected] +6221 2854 8150 Yulianah Institutional Equity Sales [email protected] +6221 2854 8146 Indra S. Affandi Institutional Equity Sales [email protected] +6221 2854 8334 Lucia Irawati Head of Retail Equity Sales [email protected] +6221 2854 8173 Ferry Khusaeri Equity Sales [email protected] +6221 2854 8304 Iwan Setiadi Equity Sales [email protected] +6221 2854 8313 Lia Chaterina Equity Sales [email protected] +6221 2854 8315 Amelia Sintama Equity Sales [email protected] +6221 2854 8308 Salt World Widjaja Equity Sales [email protected] +6221 2854 8163 Jovita Widjaja Equity Sales [email protected] +6221 2854 8314 James Wihardja Equity Sales [email protected] +6221 2854 8397 Joseph Soegandhi Equity Sales [email protected] +6221 2854 8872 Dian Anggraeni Equity Sales [email protected] +6221 2854 8301 Sylviawati Equity Sales [email protected] +6221 2854 8112 Verawati Gunawan Equity Sales [email protected] +6221 2854 8312 Cenni Liawisusi Equity Sales [email protected] +6221 2854 8303 Frans Ferdiansah Equity Sales [email protected] +6221 2854 8337
Muhamad Faisyal Dealer [email protected] +6221 2854 8155
Wulan Budi Setyowati Dealer [email protected] +6221 2854 8369 Bismar Ferryaman Dealer [email protected] +6221 2854 8368
Online Trading Sales Team
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