RISET SAHAM HARIAN
Samuel Equity Research
Friday, 09 December 2016
www.samuel.co.id
DISCLAIMERS : Anal yst Certification : The vi ews express ed in this research acc urat el y reflect t he personal views of t he anal ys t(s) about t he s ubjec t s ecurities or issuers and no part of the c ompens ation of the analys t(s) was, is, or will be direc tl y or indirec tl y related t o the incl usion of s pecific recommendati ons or vi ews in this res earch. The anal yst(s) princi pall y res ponsible for the pr eparati on of this r esearch has t aken reasonable car e to ac hi eve and maintain i ndependence and obj ecti vit y in maki ng any rec ommendati ons . This document is for inf ormation onl y and f or the use of the recipient . It is not to be repr oduced or copied or made available to ot hers. Under no circumst anc es is it t o be considered as an off er t o s ell or solicitation t o buy any s ecurit y. Any r ecommendation c ontai ned in this report may not be s uit able f or all invest ors. Mor eover, although the i nfor mation cont ained herein has been obtained from sources believed t o be r eliabl e, its accurac y, c omplet eness and reli abilit y c annot be guaranteed. All rights res er ved by PT Samuel Sekuritas Indonesi a.
:
5,303.7
:
+38.4
(+0.7%)
:
4,050
Mn shrs
:
5,327
Bn rupiah
Last
Close
+/-
%
TLKM
3,940
90
2.3
BMRI
10,950
250
2.3
GGRM
67,500
2050
3.1
HMSP
3,980
30
0.8
BJBR
2,430
-270
-10.0
ADRO
1,650
-60
-3.5
UNTR
22,600
-425
-1.8
INCO
3,240
-130
-3.9
Foreign Net Buy / Sell
Net Buy (Rpbn)
Net Sell (Rpbn)
BMRI
61
BJBR
160
UNTR
36
BBCA
114
INDF
26
ASII
88
ITMG
14
PWON
43
JSMR
12
AKRA
35
Money Market
Last
Close
+/-
%
USD/IDR
13,287
-41.0
0.3
JIBOR O/N
4.2
0.0
-Infl (MoM)
0.5
-
-Dual Listing Securities
Last
Close
+/-
%
TLKM
29.3
0.4
1.5
ISAT
42.1
0.3
0.8
EIDO
24.7
0.1
0.4
World Indices
Last
Close
+/-
%
DJIA
19,615
65
0.3
S&P 500
2,246
5
0.2
Euro Stoxx
3,186
44
1.4
MSCI World
1,753
4
0.2
Nikkei
18,879
114
0.6
Hang Seng
22,862
61
0.3
Commodities
Last
Close
+/-
%
Brent Oil
54
0.9
1.7
CPO Malay
3,087
-28.0
-0.9
Coal Newc
79
2.0
2.5
Nickel
11,075
-306.0
-2.7
Tin
21,047
-189.0
-0.9
Market Value
Changes
Leading Movers
Market Activity
Friday, 09 Dec 2016
Market Index
Index Movement
Market Volume
Changes
Changes
Changes
Changes
Lagging Movers
Bursa global bergerak menguat menyusul keputusan ECB
me mperpanjang stimulus
Bursa US ditutup menguat dan mencatat rally penguatan terpanjang
menyusul rencana Trump untuk mendorong stimulus ekonomi domestik
serta keputusan bank sentral Eropa (ECB) untuk memperpanjang program
pembelian asset sebesar Euro 80 miliar/bulan dari semula yang berakhir
Maret 2017 menjadi Desember 2017. Namun pembelian asset akan
berkuran menjadi Euro 60 miliar mulai April 2017 sementara suku bunga
bank sentral tidak berubah.
Dari pasar komoditas, harga minyak Brent menguat ke level US$ 53,9/barel
setelah OPEC mengisyaratkan akan membujuk produsen lain untuk
melakukan pemotongan produksi di pertemuan OPEC tanggal 10
Desember. Di lain pihak, Rusia berjanji memotong produksi sebanyak 300k
b/d.
Sementara itu, sebagian besar indeks di wilayah APAC bergerak menguat
mengikuti pergerakan bursa Eropa dan US. Dari pasar dalam negeri, kami
estimasi IHSG hari ini akan menguat mengikuti pergerakan bursa global.
Rupiah tercatat menguat ke level Rp13.287, sedangkan EIDO tercatat
positif.
Highlights
BBRI
: Mendanai PTBA
BUMI
: Siapkan Right Issue Rp 26.9 trilliun
INDY
: Fokus ke proyek pembangkit listrik
WIKA
: Mendapatkan dua kontrak baru
TLKM
: Bagi dividen interim senilai Rp 1,92 triliun, dividend yield
0,5%
JSMR
: Volume tol Cikampek melonjak 29% jelang libur panjang
Heavy equipment
: Alat berat sektor konstruksi masih akan
sumbang signifikan
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BBRI: Mendanai PTBA
BBRI memberikan fasilitas pendanaan kepada PTBA Rp 2,5 triliun dalam bentuk
valas dan rupiah untuk capex perusahaan di 2017.
Sepanjang 9M16, total kredit BBRI tumbuh 16%, sementara kredit ke BUMN saja
tumbuh 23,4%. Di tahun depan, kredit ke BUMN diperkirakan naik 12-14%.
(
Investor Daily
)
BBRI: Buy; 17E’ PE: 9.4x, PBV: 1.7x.
BUM I: Siapkan Right Issue Rp 26.9 trilliun
PT Bumi Resources Tbk (BUMI) berencanamenerbitkan saham baru dengan hak
memesan efek terlebih dahulu (HMETD) sebanyak 29,1 miliar saham atau 79,5%
dari modal ditempatkan dan disetor penuh pada 2017. Aksi korporasi ini diharapkan
menghasilkan dana senilai Rp 26,9 triliun.
Direktur Keuangan Bumi Resources Andrew Christopher Beckham mengatakan,
harga pelaksanaan
rights issue
kemungkinan di level Rp 926 per saham. Saham
baru tersebut digunakan untuk membayar utang kepada China Investment
Corporation (CIC) dan delapan kreditur lain, sesuai dengan hasil kesepakatan
kreditor dengan perseroan. (
Investor Daily
).
BUMI: Non-Coverage.
INDY: Fokus ke proyek pembangkit listrik
Seiring dengan kenaikan harga batubara yang dinilai masih labil, INDY fokus ke
proyek pembangkit listrik bertenaga uap Cirebon II yang sedang dikerjakan. Proyek
ini berkapasitas 1 x 1.000 MW dan dibangun bersama Marubeni Corp, Komipo Co
Ltd, dan Chubu Electric Power Co Ltd.
Kebutuhan batubara proyek ini ditaksir sekitar 3,2 juta ton batubara per tahun dan
akan dipenuhi dari Kideco Agung, KPC, dan Berau Coal.
Proyek ini menelan dana USD 2 miliar, dimana 80% nya berasal dari Japan Bank
for International Cooperation yang rencananya akan rampung financial-closing-nya
pada 1Q17. (
Kontan
)
INDY: Non-Coverage.
WIKA: Mendapatkan dua kontrak baru
PT Wijaya Karya, Tbk (WIKA) mendapatkan dua pekerjaan konstruksi baru senilai
Rp1.29tn, yang teridri iatas Bogor Outer Ring Road (BORR) Seksi 2B senilai
Rp852.65miliar dan PLTP Lumut Balai senilai Rp439.38miliar.
Adapun proyek highway sepanjang 2.4km tersebut akan dikerjakan selama
17bulan. Perusahaan juga berpotensi membukukan order book hingga akhir tahun
ini sebesar Rp81.5tn. (
Investor Daily
).
WIKA: Buy; 18.9x P/E17E dan 2.2x PBV
17E.
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TLKM : Bagi dividen interim senilai Rp 1,92 triliun, dividend yield 0,5%
PT Telekomunikasi Indonesia Tbk (TLKM) akan membagi dividen sebesar Rp 1,92
triliun atau setara dengan Rp 19,37/lembar saham. Merefleksikan dividend yield
sebesar 0,5%. Dividend payout ratio sebesar 13,0%. Dividen akan dibagikan
kepada pemegang saham yang tercatat di penutupan perdagangan 19 Desember
2016. (
Bisnis Indonesia
)
TLKM: BUY; 17E’ PE: 16.4x, PBV: 3.9x.
JSM R: Volume tol Cikampek melonjak 29% jelang libur panjang
Menjelang libur panjang Maulid Nabi di hari senin depan, PT Jasa Marga Tbk
(JSMR) memproyeksikan volume lalu lintas yang akan keluar dari Jakarta akan
meningkat. Volume lalu lintas diprediksi meningkat 29% di GT Cikarang Utama ruas
tol Jakarta
– Cikampek. (
Bisnis Indonesia
)
JSMR: BUY;
17E’ PE: 16.5x, PBV:
2.3x.
Heavy equipment: Alat berat sektor konstruksi masih akan sumbang signifikan
Tahun depan, penjualan alat berat industri diperkirakan mencapai 4.000unit. Hinabi
melihat penyumbang tersbesar masih akan datang dari sektor konstruksi, atau
sekitar 35% sedangkan agribisnis 30% logistik 25% dan sisanya 10% dari sektor
pertambangan. Kenaikan harga batu bara masih akan menjadi salah satu katalis
penggerak. (
Kontan
).
Heavy Equipment: Neutral
.
Sektor unggas: Ketersediaan bibit ayam peternak mandiri dijamin
Pemerintah melakukan penjaminan pasokan ayam umur sehari bagi peternak
mandiri. Jaminan itu diberikan pemerintah melalui revisi Permentan No.26 Tahun
2016 tentang Pengawasan Ayam Ras yang diteken Menteri Pertanian Amran
Sulaiman pada 6 Desember 2016.
Selain itu, revisi Permentan No.26 Tahun 2016 juga mewajibkan pelaku usaha yang
berkapasitas produksi minimal 300 ribu ekor per minggu harus mempunyai Rumah
Potong Hewan Unggas.
Selain itu, perjanjian antara pelaku usaha juga diatur lebih rinci, yaitu memuat
jumlah pesanan, waktu pengiriman, cara pembayaran, status kesehatan induk
ayam ras, dan sertifikat benih atau bibit.
Dengan revisi tersebut, pengaturan afkir dini menjadi hal terkait rencana produksi
nasional, apabila terjadi ketidakseimbangan antara permintaan dan pasokan, maka
dapat dilakukan penambahan atau pengurangan produksi ayam, baik ayam indukan
(PS), ataupun ayam untuk konsumsi (FS). (
Investor Daily
)
Sektor Unggas:
Overweight.
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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 HOLD 4.4 10950 2.3 4.29 (3.5) 18.4 11106 10300 -5.9 14.6 11.4 1.7 1.5 11.3% 13.1% n/a n/a BBCA BUY 6.2 14700 0.3 1.38 (3.9) 10.5 16381 17100 16.3 18.6 15.7 3.3 2.8 17.6% 17.9% n/a n/a BBRI BUY 4.9 11500 0.7 4.07 (8.7) 0.7 13022 13700 19.1 10.9 9.4 2.0 1.7 17.9% 18.1% n/a n/a BBNI BUY 1.7 5425 1.4 2.84 (2.7) 8.7 6384 6300 16.1 9.6 7.8 1.2 1.0 12.2% 13.4% n/a n/a BBTN BUY 0.3 1775 (1.7) 8.56 (5.6) 37.1 2188 2300 29.6 8.0 6.8 1.0 0.9 12.4% 13.1% n/a n/a
Average 12.3 10.2 1.8 1.6 14.3% 15.1% n/a n/a
Consumer (Staples) ICBP BUY 1.8 8850 2.0 2.61 (6.3) 31.4 10267 10300 16.4 27.7 24.9 5.8 5.2 21.0% 20.8% 20.7 17.7 INDF BUY 1.2 8100 2.9 5.19 (1.2) 56.5 9990 9900 22.2 18.0 15.2 2.4 2.2 13.2% 14.2% 9.6 8.6 KLBF HOLD 1.3 1585 1.0 (0.31) (7.3) 20.1 1736 1700 7.3 33.0 29.4 6.3 5.6 19.1% 19.0% 22.7 19.1 ROTI BUY 0.1 1505 0.3 (0.33) (4.7) 19.0 1705 2000 32.9 28.4 21.2 5.4 4.5 18.9% 21.1% 13.3 11.8 ULTJ BUY 0.2 4600 (0.9) - (5.3) 16.6 5367 5300 15.2 21.1 17.3 3.9 3.3 18.7% 18.9% 13.3 11.4 UNVR HOLD 5.5 41450 0.3 (1.13) (6.6) 12.0 44665 45200 9.0 49.5 44.3 58.9 51.6 118.9% 116.6% 34.6 31.6 SIDO BUY 0.1 555 1.8 0.91 0.9 0.9 655 730 31.5 17.3 15.4 3.1 2.9 17.7% 18.9% 7.9 6.3 AISA BUY 0.1 2020 (1.9) 2.80 3.1 66.9 2428 2240 10.9 16.2 12.4 1.7 1.5 10.7% 12.2% 14.3 12.9 Average 27.9 23.9 12.3 10.7 32.5% 32.8% 17.4 15.2 Cigarette HMSP HOLD 8.1 3980 0.8 3.65 (1.5) 5.9 4272 4390 10.3 39.1 35.0 13.0 11.8 33.3% 33.8% 28.0 25.3 GGRM BUY 2.3 67500 3.1 3.85 0.4 22.7 77171 77150 14.3 19.8 19.1 3.0 2.7 15.2% 14.1% 12.8 11.8 Average 29.5 27.1 8.0 7.3 24.2% 24.0% 20.4 18.6 Healthcare MIKA HOLD 0.6 2550 0.4 1.19 (7.3) 6.3 3142 2950 15.7 55.7 48.9 10.3 9.4 18.5% 19.1% 29.9 27.0 SILO BUY 0.2 10325 (3.1) (3.95) 1.4 7.1 11665 12500 21.1 137.7 108.5 5.6 5.1 4.1% 4.7% 18.0 14.7 Average 96.7 78.7 8.0 7.2 11.3% 11.9% 24.0 20.8 Retail MAPI HOLD 0.2 5275 0.0 0.96 (4.5) 39.0 5491 5500 4.3 46.7 27.5 2.7 2.5 5.8% 9.0% 8.9 7.1 RALS BUY 0.1 1195 3.9 2.14 (6.6) 85.3 1465 1570 31.4 21.7 18.4 2.4 2.2 11.0% 12.1% 17.5 16.4 ACES BUY 0.3 850 (1.2) (4.49) (1.2) 3.0 974 960 12.9 23.6 21.8 4.7 4.1 20.0% 18.7% 16.3 14.4 LPPF BUY 0.8 15700 3.3 9.22 (6.0) (10.8) 20866 23150 47.5 19.0 16.4 21.0 13.5 110.6% 82.3% 14.3 12.7 Average 27.8 21.0 7.7 5.6 36.8% 30.5% 14.2 12.7 Telco EXCL BUY 0.4 2380 4.4 7.21 (4.8) (33.9) 3240 4550 91.2 297.5 30.5 1.2 1.1 0.4% 3.7% 5.3 4.6 ISAT HOLD 0.6 6275 (1.2) - (2.0) 14.1 7666 6600 5.2 38.5 17.1 2.5 2.3 6.5% 13.2% 4.1 3.7 TLKM BUY 6.9 3940 2.3 2.07 (4.4) 27.5 4732 5000 26.9 20.1 16.4 4.5 3.9 22.3% 24.0% 7.7 7.0 Average 118.7 21.3 2.7 2.4 9.8% 13.7% 5.7 5.1 Auto and HE ASII BUY 5.5 7800 0.3 1.30 (5.5) 30.0 8679 9000 15.4 17.1 14.1 2.8 2.4 16.7% 17.2% 14.5 14.0 UNTR BUY 1.5 22600 (1.8) 1.57 (0.6) 33.3 24011 25050 10.8 19.5 16.4 2.1 2.0 10.7% 11.9% 5.5 4.8 Average 18.3 15.2 2.5 2.2 13.7% 14.6% 10.0 9.4 Aviation GIAA HOLD 0.2 380 1.1 2.70 7.3 23.0 394 445 17.1 20.0 14.6 0.8 1.0 3.8% 7.1% ##### 3.4 Property BSDE HOLD 0.6 1835 0.0 3.38 (11.4) 1.9 2381 2350 28.1 14.4 11.7 1.6 1.4 11.1% 11.8% 10.6 9.2 PWON HOLD 0.5 645 (0.8) (3.01) (8.5) 30.0 733 710 10.1 23.2 21.5 3.9 3.4 16.8% 15.8% 9.2 8.0 KPIG BUY 0.2 1320 1.5 14.29 (9.0) (6.4) n/a 1810 37.1 30.7 25.9 1.1 1.1 3.5% 4.1% n/a n/a ASRI HOLD 0.1 394 4.2 7.07 (5.3) 14.9 450 438 11.2 12.3 11.4 1.1 1.0 9.0% 8.9% 6.1 5.3 SMRA HOLD 0.4 1495 2.0 7.94 2.0 (9.4) 1730 1750 17.1 32.9 30.9 2.8 2.6 8.5% 8.4% 10.1 9.1 Average 20.7 18.8 2.3 2.1 11.4% 11.3% 9.0 7.9 Construction PTPP BUY 0.4 3990 0.5 (0.05) 4.7 8.3 5110 5100 27.8 24.4 21.0 3.4 3.0 13.9% 14.4% 10.3 9.0 ADHI BUY 0.1 2190 16.8 16.18 1.4 2.3 2595 2750 25.6 16.5 13.6 1.5 1.3 8.9% 9.5% 6.2 5.5 WSKT BUY 0.6 2590 4.4 2.37 5.7 55.1 3339 3250 25.5 20.2 16.4 1.9 1.6 9.2% 9.9% 22.4 19.0 WIKA BUY 0.4 2570 8.0 6.64 4.7 5.1 3016 3000 16.7 22.3 18.9 2.5 2.2 11.2% 11.4% 13.4 11.6 Average 20.9 17.5 2.3 2.0 10.8% 11.3% 13.1 11.3 Cement INTP HOLD 1.0 15975 0.6 2.40 (0.2) (28.4) 16366 18000 12.7 14.3 13.9 2.2 2.0 15.6% 14.4% 7.5 6.3 SMGR HOLD 1.0 9200 (0.5) (0.54) (0.3) (19.3) 10519 10000 8.7 13.9 13.4 1.9 1.7 13.8% 13.0% 5.5 4.6 SMCB SELL 0.1 915 2.8 0.55 (2.7) (8.0) 912 920 0.5 30.0 19.4 0.8 0.7 2.6% 3.9% 10.0 8.1 Average 19.4 15.6 1.6 1.5 10.7% 10.4% 7.7 6.4 Precast
WSBP BUY 0.3 590 3.5 3.51 n/a n/a 706 690 16.9 29.1 23.2 2.5 2.2 8.4% 9.6% 23.4 18.3 WTON BUY 0.1 875 4.8 4.17 0.6 6.1 1131 1150 31.4 27.2 20.7 2.8 2.3 10.2% 10.9% 19.7 15.4
Average 28.1 21.9 2.6 2.2 9.3% 10.2% 21.6 16.8
EV/EBITDA (x)
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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
Utility
PGAS BUY 1.2 2840 1.8 4.80 14.5 3.5 3054 3375 18.8 12.2 10.1 1.5 1.4 12.3% 13.5% 18.7 17.8 JSMR BUY 0.6 4380 1.2 5.29 (3.3) (16.0) 5771 6500 48.4 16.7 16.5 2.6 2.3 15.3% 13.9% 10.2 9.9
Average 14.5 13.3 2.0 1.8 13.8% 13.7% 14.5 13.8
Coal and Metal
ANTM BUY 0.4 950 (1.0) (0.52) 6.7 202.5 816 840 -11.6 475.0 135.7 1.2 1.2 0.3% 0.9% 38.1 30.3 INCO HOLD 0.6 3240 (3.9) (6.63) 7.3 98.2 2564 2800 -13.6 249.2 35.2 1.3 1.3 0.5% 3.7% 213.8 138.0 TINS HOLD 0.2 1245 (4.2) (4.60) 3.8 146.5 848 850 -31.7 124.5 59.3 1.8 1.7 1.4% 2.9% 9.3 8.1 ITMG BUY 0.3 16650 2.5 2.30 4.6 190.8 18183 19000 14.1 14.0 7.2 1.6 1.4 11.3% 19.6% 86.1 97.5 ADRO BUY 0.9 1650 (3.5) 2.48 5.1 220.4 1798 2100 27.3 14.7 12.5 1.1 1.1 7.6% 8.5% 86.1 76.7 PTBA BUY 0.5 12600 (1.4) 3.92 (2.1) 178.5 13881 15000 19.0 21.1 13.0 3.0 2.6 14.1% 19.9% 15.9 9.8 Average 149.8 43.8 1.7 1.5 5.9% 9.2% 74.9 60.1 Plantation AALI BUY 0.6 17575 (0.8) 5.24 16.2 16.4 17584 17000 -3.3 20.3 19.3 2.2 2.1 10.7% 10.7% 15.1 13.7 LSIP BUY 0.2 1760 (4.1) (2.76) 21.8 33.3 1757 1830 4.0 24.8 15.9 1.6 1.4 6.3% 9.1% 7.3 6.0 SIMP BUY 0.1 505 0.0 - 3.1 52.1 558 600 18.8 18.0 11.5 0.6 0.6 3.1% 4.9% 6.0 5.6 Average 21.0 15.5 1.4 1.4 6.7% 8.2% 9.5 8.4 Poultry CPIN BUY 0.9 3150 1.0 0.96 (12.3) 21.2 3820 4800 52.4 14.9 13.3 1.9 1.7 13.0% 12.8% 12.3 11.2 JPFA BUY 0.3 1660 7.1 5.73 (10.8) 161.4 2319 2240 34.9 10.0 9.1 2.1 1.7 20.7% 18.7% 9.0 11.6 MAIN BUY 0.1 1285 2.4 (0.39) (18.2) (15.7) 2073 2280 77.4 7.5 6.9 1.2 1.1 16.3% 15.6% 10.5 8.7 Average 10.8 9.8 1.7 1.5 16.7% 15.7% 10.6 10.5 Other Sectors AKRA HOLD 0.4 6350.0 -2.3 -1.2 -8.6 -11.5 7350.0 6900 8.7 22.8 20.3 3.7 3.3 16.2% 16.3% 14.9 12.0 DOID BUY 0.1 525.0 1.0 2.9 14.6 872.2 na 850 61.9 9.4 5.0 2.7 1.8 28.7% 35.9% 26.5 25.5 Average 16.1 12.6 3.2 2.5 22.5% 26.1% 20.7 18.8
Source: SSI Research, Bloomberg
Note: GIAA, PGAS, ITMG, ADRO, INCO report in USD.
EV/EBITDA (x)
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Regional Indices 1D Change
Points 1D 3D 1W 1M 3M YTD 1YR High Low
World 3.63 1,753 0.21 1.45 2.57 3.33 2.63 5.42 5.32 1,756 1,460 U.S. (S&P) 4.84 2,246 0.22 1.88 2.52 3.83 5.56 9.90 9.70 2,252 1,810 U.S. (DOW) 65.19 19,615 0.33 2.07 2.20 5.51 8.46 12.57 12.13 19,665 15,451 Europe 43.55 3,186 1.39 4.36 5.11 4.24 4.34 (2.50) (2.79) 3,345 2,673 Emerging Market 11.71 879 1.35 2.97 2.44 (0.09) (3.30) 10.73 10.57 930 687 FTSE 100 29.32 6,932 0.42 2.74 2.65 0.29 2.28 11.04 n/a 7,130 5,500 CAC 40 40.76 4,735 0.87 3.52 3.83 4.23 5.43 2.12 2.11 4,749 3,892 Dax 192.73 11,179 1.75 4.63 6.13 5.01 5.73 4.06 5.54 11,193 8,699 Indonesia 38.37 5,304 0.73 0.67 2.02 (2.04) 0.41 15.47 18.81 5,492 4,331 Japan 124.52 18,890 0.66 2.88 2.52 16.24 11.34 (0.76) (2.13) 19,869 14,864 Australia 17.57 5,561 0.32 2.44 2.15 7.85 4.16 5.01 9.46 5,611 4,707 Korea (7.62) 2,023 (0.38) 1.69 2.68 3.32 (0.71) 3.17 3.86 2,074 1,818 Singapore (0.98) 2,959 (0.03) 0.54 1.03 6.06 2.98 2.64 3.41 2,981 2,528 Malaysia 11.28 1,644 0.69 1.16 1.06 (0.23) (2.53) (2.88) (0.94) 1,729 1,601 Hong Kong 60.92 22,862 0.27 1.58 (0.07) 1.99 (5.14) 4.32 4.85 24,364 18,279 China (6.88) 3,215 (0.21) 0.33 (1.77) 2.78 4.43 (9.15) (7.40) 3,685 2,638 Taiwan 111.97 9,376 1.21 2.35 1.21 4.84 2.30 12.45 13.93 9,400 7,628 Thailand 4.88 1,525 0.32 1.58 1.00 1.06 5.54 18.43 17.54 1,558 1,221 Philipines 155.57 7,022 2.27 3.63 2.29 (1.36) (7.38) 1.01 2.54 8,118 6,084
Monetary Indicators 1D Change
Points 1W 1M 3M YTD 1YR High Low
JIBOR Overnight (%) (0.00) 4.20 (0.05) 4.85 (1.34) (44.69) (27.71) 8.26 4.20
Foreign Reserve (US$bn) n/a 111.47 n/a (3.10) (1.83) 5.23 11.20 115.67 102.13
Inflation Rate (%) n/a 0.47 n/a 235.71 2450.00 (51.04) 123.81 0.96 (0.45)
US Fed Rate (%) 0.00 0.50 0.00 0.00 0.00 0.00 100.00 0.50 0.25
Indo Govt Bond Yld (10yr) - % 0.00 7.54 (6.41) 2.47 8.99 (13.75) (11.56) 9.11 6.77
Exchange Rate (per US$) 1D Change
Currency Points 1D 3D 1W 1M 3M YTD 1YR High Low
Indonesia (41.00) 13287 0.31 1.08 2.00 (1.53) 3.77 3.77 4.41 14,095 12,920
Japan 0.20 114.24 (0.18) (0.19) (0.64) (7.50) 5.23 5.23 6.30 123.56 99.02
UK (0.00) 1.26 (0.04) (0.77) (1.16) 1.41 (14.62) (14.62) (17.13) 1.52 1.18
Euro (0.00) 1.06 (0.02) (0.98) (0.48) (2.72) (2.29) (2.29) (3.74) 1.16 1.05
China 0.01 6.89 (0.21) (0.14) (0.08) (1.51) (5.77) (5.77) (6.87) 6.92 6.44
Commodities Indicators 1D Change
Spot Points 1D 3D 1W 1M 3M YTD 1YR High Low
Oil 0.17 51.01 0.33 0.16 (1.30) 12.68 11.18 37.72 37.27 52.42 26.05 CPO (28.00) 3,087.00 (0.90) (0.64) 0.72 8.81 20.54 24.23 26.26 3,157.00 2,172.00 Rubber 20.00 873.50 2.34 2.34 3.62 16.78 32.05 61.91 45.95 873.50 506.50 Coal 1.95 79.40 2.52 (3.35) (3.52) (25.86) 14.74 56.92 51.67 112.25 51.75 Iron Ore (0.59) 80.26 (0.73) 0.74 (0.95) 25.39 40.07 84.93 99.65 81.03 37.50 Tin (189.00) 21,047.00 (0.89) (1.60) (1.26) (2.78) 7.16 44.25 46.34 21,945.00 13,223.80 Nickel (305.00) 11,105.00 (2.67) (4.60) (0.94) (1.38) 7.35 25.91 27.72 12,145.00 7,550.00 Copper (3.00) 5,782.00 (0.05) (2.82) (0.16) 10.44 23.97 22.89 26.02 6,045.50 4,318.00 Gold (3.50) 1,167.60 (0.30) (0.10) (0.76) (8.32) (12.26) 10.12 8.43 1,377.50 1,046.70
Source: SSI Research, Bloomberg
Last Price
Last Price Change (%) 1 Year
Change (%) 1 Year
Last Price Change (%) 1 Year
Change (%) 1 Year
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Research Team
Andy Ferdinand, CFA
Head Of Equity Research,Strategy,
Banking, Consumer
andy.ferdinand@samuel.co.id
+6221 2854 8148
Rangga Cipta
Economist
rangga.cipta@samuel.co.id
+6221 2854 8396
Muhamad Makky Dandytra, CFTe
Technical Analyst
makky.dandytra@samuel.co.id
+6221 2854 8382
Akhmad Nurcahyadi, CSA
Auto, Aviation, Cigarette, Construction
Healthcare, Heavy Equipment, Property
akhmad.nurcahyadi@samuel.co.id
+6221 2854 8144
Arandi Ariantara
Cement, Telecommunication, Utility
arandi.ariantara@samuel.co.id
+6221 2854 8392
Marlene Tanumihardja
Poultry, Retail, Small Caps
marlene@samuel.co.id
+6221 2854 8387
Sharlita Lutfiah Malik
Mining, Plantation
sharlita.malik@samuel.co.id
+6221 2854 8339
Adde Chandra Kurniawan
Research Associate
adde.kurniawan@samuel.co.id
+6221 2854 8338
Private Wealth Management
Evelyn Satyono
Head of PWM /
Head of Institutional Marketing
evelyn.satyono@samuel.co.id
+6221 2854 8380
Muhamad Alfatih CSA, CTA, CFTe
Senior Technical Portfolio Advisor
m.alfatih@samuel.co.id
+6221 2854 8129
Ronny Ardianto
Institutional Equity Sales
ronny.ardianto@samuel.co.id
+6221 2854 8399
Clarice Wijana
Institutional Equity Sales
clarice.wijana@samuel.co.id
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Wahyudi Budiono
Dealer
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+6221 2854 8152
Equity Sales Team
Kelvin Siwah Long
Head of Equities
kelvin.long@samuel.co.id
+6221 2854 8150
Yulianah
Institutional Equity Sales
yulianah@samuel.co.id
+6221 2854 8146
Indra S. Affandi
Institutional Equity Sales
indra.siswandi@samuel.co.id
+6221 2854 8334
Lucia Irawati
Head of Retail Equity Sales
lucia.irawati@samuel.co.id
+6221 2854 8173
Ferry Khusaeri
Equity Sales
ferry.khusaeri@samuel.co.id
+6221 2854 8304
Iwan Setiadi
Equity Sales
iwan.setiadi@samuel.co.id
+6221 2854 8313
Lia Chaterina
Equity Sales
liachaterina@samuel.co.id
+6221 2854 8315
Amelia Sintama
Equity Sales
amelia@samuel.co.id
+6221 2854 8308
Salt World Widjaja
Equity Sales
salt@samuel.co.id
+6221 2854 8163
Jovita Widjaja
Equity Sales
jovita.widjaja@samuel.co.id
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James Wihardja
Equity Sales
james.wihardja@samuel.co.id
+6221 2854 8397
Joseph Soegandhi
Equity Sales
joseph.soegandhi@samuel.co.id
+6221 2854 8872
Dian Anggraeni
Equity Sales
dian.anggraeni@samuel.co.id
+6221 2854 8301
Sylviawati
Equity Sales
sylviawati@samuel.co.id
+6221 2854 8112
Verawati Gunawan
Equity Sales
verawati.gunawan@samuel.co.id
+6221 2854 8312
Cenni Liawisusi
Equity Sales
cenni.liawisusi@samuel.co.id
+6221 2854 8303
Frans Ferdiansah
Equity Sales
frans.ferdiansah@samuel.co.id
+6221 2854 8337
Muhamad Faisyal
Dealer
m.faisal@samuel.co.id
+6221 2854 8155
Wulan Budi Setyowati
Dealer
wulan.setyowati@samuel.co.id
+6221 2854 8369
Bismar Ferryaman
Dealer
bismar.ferryaman@samuel.co.id
+6221 2854 8368
Online Trading Sales Team
Nugroho Nuswantoro
Head Of Marketing OLT
nugroho@samuel.co.id
+6221 2854 8372
Wahyu Widodo
Marketing
wahyu.widodo@samuel.co.id
+6221 2854 8371
Rina Lestari
Customer Service
rina.lestari@samuel.co.id
+6221 2854 8180
Martha Lamtiurma Tampubolon
Customer Service
martha.lamtiurma@samuel.co.id
+6221 2854 8182
Mohamad Andhika Prasetia
Customer Service
andhika@samuel.co.id
+6221 2854 8183
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.
