DAILY RESEAR CH
Market
Market Activity
Market Index : 6,071.4
Index Movement : -95.4 -1.55%
Market Volume : 12,687 Mn shrs Market Value : 8,714 Bn rupiah
Last
Close +/- %
Leading Movers
BBRI 4,500 -220 -4.7
TLKM 3,380 -30 -0.9
SLIS 7,150 0 0.0
ARTO 9,975 -75 -0.7
Lagging Movers
BMRI 6,325 -50 -0.8
BBCA 31,975 175 0.6
MAYA 2,790 -210 -7.0
UNVR 6,550 -175 -2.6
Foreign Net Buy / Sell (Regular Market) Net Buy (IDR bn) Net Sell (IDR bn)
BMRI 35 BBRI 307
ICBP 17 ASII 84
ANTM 17 TKIM 39
TOWR 15 MNCN 27
ACES 15 CPIN 26 Money Market
Last
Close +/- %
USD/IDR 14,480 35.0 -0.2
JIBOR O/N 5.9 0.0
Dual Listing Securities Last
Close +/- %
TLKM 23.8 -0.1 -0.5
EIDO 22.0 -0.6 -2.8
Global Indices Last
Close +/- %
DJIA 33,067 -104 -0.3
S&P 500 3,959 -13 -0.3
Euro Stoxx 3,926 43 1.1
MSCI World 2,805 -6 -0.2
STI 3,191 15 0.5
Nikkei 29,215 -169 -0.6
Hang Seng 28,578 239 0.8
Commodities Last
Close +/- %
Brent Oil 64 -0.8 -1.3
Coal (ICE) 94 0.9 0.9
CPO Malay 4,019 -104.0 -2.5
Nickel 15,909 -271.5 -1.7
Tin 25,310 -40.0 -0.16
Tuesday, 30 Mar 2021
Changes Changes
Changes
Changes
Changes
IHSG berpeluang melemah di hari terakhir perdagangan 1Q21
Bursa saham AS semalam kembali ditutup di zona merah. Dow dan S&P500 terkoreksi -0.3% sedangkan Nasdaq -0.1%. Pasar saham AS mendapat sentimen positif dari indeks keyakinan konsumen Maret yang berada di level 109.7, tertinggi dalam 1 tahun terakhir dan di atas estimasi konsensus sebesar 96.8. Namun pasar juga mendapat sentimen negatif dari kembali naiknya yield obligasi 10 tahun yang sempat ke level 1.77%, tertinggi sejak Januari 2020, meski kemudian melandai di level 1.72%.
Obligasi 5 tahun juga sempat naik ke level 0.95%, tertinggi dalam 13 bulan terakhir.
Pasar komoditas rata-rata mengalami pelemahan. Brent dan WTI masing-masing turun -1.5% dan -1.6% setelah OPEC+ berencana merevisi turun outlook konsumsi minyak global akibat lambatnya pembukaan kembali ekonomi di berbagai negara setelah pandemi COVID-19. Nikel turun -1.9%, timah -0.1%, cooper -1.4%, emas -1.7% dan CPO turun -4.6%.
Sedangkan batubara mampu naik +0.9%.
Perkembangan kasus COVID-19 di Indonesia, data hari kemarin menunjukan ada penambahan 4,682 kasus baru turun -6.5% dari hari sebelumnya dan 5,877 kasus sembuh. Kasus aktif menjadi 122,368 kasus, dan kasus aktif Indonesia tertinggi ke-5 di Asia, turun 1 peringkatperingkat dan recovery rate mencapai 89.2%. Vaksinasi tahap 1 mencapai 335,161 dosis, dan vaksinasi tahap 2 mencapai 186,770 dosis. Dengan demikian, total masyarakat Indonesia yang menerima vaksinasi tahap 1 mencapai 7.7 juta dan tahap 2 mencapai 3.5 juta penduduk.
Di hari terakhir perdagangan kuartal 1 2021 ini, pasar saham akan diwarnai dengan banyaknya rilis laporan keuangan FY20 dari berbagai emiten. Disamping itu ada pula potensi mini window dressing atau rebalancing portofolio kuartal 1. Para pelaku pasar juga akan menunggu rilis data PMI manufaktur dan jasa China, inflasi zona Eropa serta menunggu pidato Presiden AS tentang stimulus lanjutan. EIDO semalam di tutup terkoreksi -2.9%. Pagi ini Nikkei terpantau turun -0.81% sedangkan Kospi naik tipis +0.15%
DAILY RESEARCH
ISAT : Rencana Penjualan 4,247 unit Menara
KLBF : Laba bersih 4Q20 naik +19.3% yoy dengan FY20 naik +9% yoy.
MAIN : Laba Bersih 4Q20 IDR 33.2 miliar
31 March 2021
Highlights
Equity Research│31 March 2021
COVID-19 Data
Indonesia
7 Day Running Covid-19 Data
Total 1D Change Daily 1D Change Total Daily Total Daily Total Closed Cases
Cases % Cases % Recovered Recovered Deaths Deaths Active Cases %
3/30/2021 1,505,775 0.31 4,682 (6.51) 1,342,695 5,877 40,754 173 122,326 91.88 3/29/2021 1,501,093 0.33 5,008 22.65 1,336,818 5,418 40,581 132 123,694 91.76 3/28/2021 1,496,085 0.27 4,083 (8.47) 1,331,400 4,279 40,449 85 124,236 91.70 3/27/2021 1,492,002 0.30 4,461 (10.46) 1,327,121 4,243 40,364 198 124,517 91.65 3/26/2021 1,487,541 0.34 4,982 (18.42) 1,322,878 5,679 40,166 85 124,497 91.63 3/25/2021 1,482,559 0.41 6,107 16.84 1,317,199 4,656 40,081 98 125,279 91.55 3/24/2021 1,476,452 0.36 5,227 (1.32) 1,312,543 7,622 39,983 118 123,926 91.61
Average 4,936 5,396 127 91.68
Source: SSI Research, Bloomberg
COMMODITIES
Gold: Gold 100 Oz Futures (USD/Troi oz) Oil: Generic 1st Crude Oil, Brent (USD/Barel)
Coal: Newcastle Coal (USD/MT) CPO: Bursa Malaysia Crude Palm Oil (MYR/MT)
Pulp: Generic Bleached Softwood Craft Pulp (CNY/MT) Nickel: London Metal Exchange Nickel Future (USD/MT)
1-Mar-20 1-Apr-20 1-May-20 1-Jun-20 1-Jul-20 1-Aug-20 1-Sep-20 1-Oct-20 1-Nov-20 1-Dec-20 1-Jan-21 1-Feb-21 1-Mar-21
0 10 20 30 40 50 60 70 80
1-Mar-20 1-Apr-20 1-May-20 1-Jun-20 1-Jul-20 1-Aug-20 1-Sep-20 1-Oct-20 1-Nov-20 1-Dec-20 1-Jan-21 1-Feb-21 1-Mar-21
40 50 60 70 80 90 100 110
1-Mar-20 1-Apr-20 1-May-20 1-Jun-20 1-Jul-20 1-Aug-20 1-Sep-20 1-Oct-20 1-Nov-20 1-Dec-20 1-Jan-21 1-Feb-21 1-Mar-21
1,500 2,000 2,500 3,000 3,500 4,000 4,500
ar-20 r-20 ay-20 n-20 Jul-20 g-20 -20 ct-20 ov-20 -20 n-21 -21 ar-21
4,000 4,500 5,000 5,500 6,000 6,500 7,000 7,500 8,000
ar-20 r-20 ay-20 n-20 Jul-20 g-20 -20 ct-20 ov-20 -20 n-21 -21 ar-21
10,000 12,000 14,000 16,000 18,000 20,000 22,000
1-Mar-20 1-Apr-20 1-May-20 1-Jun-20 1-Jul-20 1-Aug-20 1-Sep-20 1-Oct-20 1-Nov-20 1-Dec-20 1-Jan-21 1-Feb-21 1-Mar-21
1,400 1,500 1,600 1,700 1,800 1,900 2,000 2,100 2,200
Equity Research│31 March 2021
ISAT: Rencana Penjualan 4,247 unit Menara
PT Indosat Tbk (ISAT) menyampaikan keterbukaan informasi atas rencana penjualan 4,247 unit menara kepada PT EPID Menara Asset Co dan menyewa kembali 4.85 menara dari pihak pembeli. Rencana nilai transasi sebesar-besarnya IDR 10.285 triliun, atau setara dengan 79.6% ekuitas ISAT senilai IDR 6.456 triliun.
Transaksi dijadwalkan selambat-lambatnya pada tanggal 30 Juni 2021. (Keterbukaan Informasi) Comment:
Nilai penjualan per unit menara dengan rencana nilai transaksi tersebut adalah IDR 2.5 miliar/unit.
Harga penjualan tersebut tergolong premium. Bila mengacu pada nilai pasar asset tower yang dihitung oleh KJPP adalah IDR 7.587 triliun atau IDR 1.78 miliar/unit dan nilai pasar asset tidak berwujud senilai IDR 3 triliun. Harga penyewaan kembali ISAT terhadap asset tower tersebut seharga IDR 10 juta per bulan, merupakan harga penyewaan yang cukup kompetitif bagi ISAT. ISAT: BUY: 0.0x PE '21E, 2.4x PBV '21E, TP: IDR 6,700
KLBF: Laba bersih 4Q20 naik +19.3% yoy dengan FY20 naik +9% yoy.
Laba bersih KLBF di 4Q20 naik +19.3% yoy menjadi IDR 706 miliar, sedangkan penjualan naik +3.6% yoy menjadi IDR 6 triliun. Untuk FY20, laba bersih naik +9% yoy menjadi IDR 2.7 triliun, sedangkan penjualan FY20 naik +2.1% yoy menjadi IDR 23.1 triliun. (Laporan Keuangan)
Comment:
KLBF terlihat melakukan efisiensi, sehingga beban penjualan dapat ditekan hingga turun -6.4% yoy di
FY20. GPM FY20 berada di 44.33%, turun -93bps dibandingkan FY19 di 45.26%. KLBF: BUY: 23.7x PE
'21E, 3.8x PBV '21E, TP: IDR 1,750
Equity Research│31 March 2021
MAIN: Laba Bersih 4Q20 IDR 33.2 miliar
PT Malindo Feedmill tbk. (MAIN) mencatatkan penjualan FY20 sebesar IDR 7,000 miliar (-6%yoy), laba kotor sebesar IDR 653 miliar (-28% yoy), laba operasional IDR 21 miliar (-91% yoy), dan membukukan kerugian bersih sebesar IDR -39 miliar. Selama 4Q20, MAIN mencatatkan penjualan sebesar IDR 1,991 miliar (+12%
yoy, 10% qoq), laba kotor IDR 273 miliar, laba operasional IDR 81 miliar, dan laba bersih IDR 33 miliar.
(Laporan keuangan).
Comments:
Pada FY20, GPM turun -2.8 ppt, OPM -3.1ppt dan NPM -2.6ppt dikarenakan efek pandemi dan
menurunnya harga broiler dan DOC yang terjadi selama FY20 khusunya pada 2Q20, namun laba
operasional berbalik menjadi kembali positif IDR 21 miliar dari sebelumnya rugi operasioanl IDR
61miliar selama 9M20. Sejalan dengan pemulihan demand dari Konsumsi daging ayam, dan
meningkatnya harga broiler dan DOC yang terjadi pada 4Q20, MAIN berhasil kembali mencatatkan
laba bersih IDR 33 miliar (dari sebelumnya rugi bersih IDR -28 miliar pada 3Q20 dan -43 miliar pada
4Q19), GPM stabil di 14%, OPM dan NPM membaik masing-masing +3.8ppt dan +4.1ppt. Pencapaian
penjualan dan laba bersih MAIN selama FY20 merefleksikan 109%/102% dan 102%/216% proyeksi
SSI/konsensus. MAIN: BUY: 11.5x PE '21E, 0.8x PBV '21E, TP: IDR 890
Equity Research│31 March 2021
JCI Wgt Last price TP SSI TP Cons SSI Upside PE (x) PE (x) PBV (x) PBV (x) ROE (%) ROE (%)
(%) (IDR) (IDR) (IDR) (%) 20E 21E 20E 21E 20E 21E
Banks
BBCA BUY 11.5 31,975 40,500 38,175 26.7 29.1 24.8 4.3 3.9 14.7 15.7
BBRI BUY 8.1 4,500 5,300 5,155 17.8 28.7 16.9 3.0 2.7 10.3 15.8
BMRI BUY 4.3 6,325 8,000 8,002 26.5 17.2 12.4 1.6 1.5 9.1 12.1
BBNI BUY 1.6 5,800 8,500 7,341 46.6 36.3 8.4 1.0 0.8 2.6 9.7
BBTN BUY 0.3 1,740 2,300 2,233 32.2 11.4 7.2 0.9 0.8 8.1 11.4
Average 21.6 9.3 1.1 1.0 6.6 11.1
Consumer (Staples)
ICBP BUY 1.6 9,075 12,000 12,062 32.2 18.4 16.5 3.6 3.1 19.6 19.1
INDF BUY 0.9 6,700 9,500 8,687 41.8 12.0 12.1 1.4 1.3 11.9 11.0
KLBF BUY 1.1 1,540 1,750 1,807 13.6 26.1 23.7 4.2 3.8 16.0 16.0
UNVR BUY 3.7 6,550 7,900 8,094 20.6 34.8 33.1 50.8 46.8 145.7 141.4
SIDO BUY 0.3 785 970 918 23.6 25.2 21.7 7.3 6.8 29.1 31.5
Average 23.3 21.4 13.5 12.4 44.5 43.8
Cigarette
HMSP HOLD 2.3 1,365 1,460 1,306 7.0 h 18.7 5.3 5.3 28.5 28.1
GGRM BUY 1.0 36,675 44,400 40,925 21.1 8.3 8.1 1.2 1.1 14.2 13.9
Average 8.3 13.4 3.2 3.2 21.4 21.0
Healthcare
MIKA BUY 0.6 2,650 3,500 3,139 32.1 44.5 41.9 7.8 7.0 17.5 16.8
SILO BUY 0.1 4,800 5,800 5,800 20.8 342.9 145.5 1.3 1.3 0.4 0.9
HEAL HOLD 0.2 4,550 5,000 4,790 9.9 41.7 36.1 5.5 4.9 13.3 13.5
Average 143.0 74.5 4.9 4.4 10.4 10.4
Poultry
CPIN HOLD 1.8 7,250 7,300 6,787 0.7 41.2 31.7 5.6 5.2 13.7 16.4
JPFA HOLD 0.3 2,010 2,100 1,942 4.5 25.1 13.2 2.0 1.7 8.0 13.1
MAIN BUY 0.0 780 890 879 14.1 n/a 11.5 0.8 0.8 -0.9 6.8
Average 33.2 18.8 2.8 2.6 7.0 12.1
Retail
MAPI BUY 0.2 750 850 960 13.3 n/a 75.0 1.4 8.1 -7.4 10.8
RALS BUY 0.1 805 900 813 11.8 n/a 17.1 1.3 1.3 -1.5 7.7
ACES BUY 0.4 1,565 1,900 1,824 21.4 33.3 24.5 5.4 4.8 16.1 19.6
LPPF SELL 0.1 1,395 1,100 1,131 -21.1 n/a 10.8 2.4 3.7 -35.0 34.1
Average 33.3 38.9 2.7 4.7 2.4 12.7
Pulp and Paper
INKP SELL 0.9 11,000 7,000 N/A -36.4 12.6 15.2 1.0 0.9 7.6 6.0
Average 12.6 15.2 1.0 0.9 7.6
Media
MNCN BUY 0.2 985 1,400 1,553 42.1 6.0 5.4 0.9 0.8 14.9 14.3
SCMA HOLD 0.4 1,740 1,750 2,286 0.6 22.0 19.8 4.5 3.8 20.6 19.2
Average 14.0 12.6 2.7 2.3 17.7 16.8
Telco
EXCL BUY 0.3 2,050 3,300 3,338 61.0 9.6 19.2 1.0 1.0 10.8 5.2
ISAT BUY 0.5 5,650 6,700 6,213 18.6 n/a n/a 2.4 2.4 -5.6 -0.9
TLKM BUY 4.9 3,380 4,300 4,165 27.2 15.2 14.4 2.7 2.6 17.8 17.8
Average 12.4 16.8 2.0 2.0 7.7 7.4
Telco Retail
ERAA BUY 0.1 522 1,625 2,705 211.3 2.8 2.3 0.3 0.3 11.0 11.9
Telco Infra
TBIG SELL 0.7 2,040 1,550 2,307 -24.0 42.5 40.0 7.0 6.2 16.5 15.6
TOWR BUY 0.8 1,100 1,300 1,379 18.2 19.0 17.2 5.2 4.3 27.2 25.3
Stock Rec.
Equity Research│31 March 2021
JCI Wgt Last price TP SSI TP Cons SSI Upside PE (x) PE (x) PBV (x) PBV (x) ROE (%) ROE (%)
(%) (IDR) (IDR) (IDR) (%) 20E 21E 20E 21E 20E 21E
Auto
ASII BUY 3.2 5,400 6,750 6,821 25.0 12.1 11.0 1.1 1.0 9.0 9.6
Average 12.1 11.0 1.1 1.0 9.0
Mining Contracting
UNTR BUY 1.2 21,500 31,000 28,889 44.2 11.6 8.6 1.3 1.2 11.2 13.8
Average 11.6 8.6 1.3 1.2 11.2
Aviation
GIAA BUY 0.1 338 650 351 92.3 3.4 3.0 0.6 0.5 17.5 16.9
Average 3.4 3.0 0.6 0.5 17.5
Property
BSDE BUY 0.4 1,165 1,350 1,480 15.9 17.4 13.1 0.7 0.6 4.0 4.9
PWON SELL 0.4 545 525 641 -3.7 41.9 23.7 1.1 1.0 2.6 4.4
ASRI SELL 0.1 224 130 257 -42.0 17.2 8.0 0.4 0.4 2.3 4.7
LPKR SELL 0.2 195 140 220 -28.2 n/a n/a 0.5 0.4 -0.5 -0.2
SMRA HOLD 0.2 950 950 980 0.0 55.9 32.8 1.9 1.8 3.4 5.4
CTRA SELL 0.3 1,125 1,100 1,281 -2.2 26.8 20.8 1.4 1.3 5.1 6.2
Average 31.8 19.7 1.0 0.9 2.8 4.2
Industrial Estate
SSIA BUY 0.0 498 700 800 40.6 n/a 45.3 0.6 0.6 -1.6 1.3
DMAS HOLD 0.2 228 250 268 9.6 15.2 13.4 1.5 1.7 9.6 12.7
KIJA SELL 0.1 179 150 N/A -16.2 16.3 13.8 0.7 0.5 4.0 3.4
Average 15.7 24.2 0.9 0.9 4.0 4.7
Construction
PTPP BUY 0.1 1,375 1,900 2,077 38.2 62.5 11.2 0.6 0.5 0.9 4.9
ADHI BUY 0.1 1,105 1,800 1,915 62.9 46.0 10.7 0.7 0.6 1.5 6.1
WSKT BUY 0.2 1,175 2,200 1,576 87.2 n/a 11.3 0.7 0.6 -15.2 5.6
WIKA BUY 0.2 1,540 2,400 2,177 55.8 16.0 10.5 0.8 0.7 5.0 7.1
Average 41.5 10.9 0.7 0.6 -1.9 5.9
Cement
INTP BUY 0.7 12,600 16,250 16,971 29.0 35.0 29.1 2.0 2.0 5.8 6.9
SMGR BUY 1.0 10,875 13,050 14,384 20.0 28.5 22.9 1.8 1.7 6.3 7.4
Average 31.8 26.0 1.9 1.9 6.1 7.2
Precast
WSBP HOLD 0.1 218 230 305 5.5 19.8 5.9 0.6 0.5 2.9 8.9
WTON BUY 0.0 320 450 499 40.6 29.1 8.6 0.8 0.8 2.9 8.9
Average 24.5 7.3 0.7 0.6 2.9 8.9
Oil and Gas
PGAS BUY 0.5 1,325 1,700 1,722 28.3 24.1 18.9 0.8 0.8 3.3 4.1
AKRA BUY 0.2 3,190 3,800 4,056 19.1 14.7 12.9 1.5 1.4 10.1 10.9
MEDC BUY 0.2 590 1,090 904 84.7 n/a 8.1 0.9 0.8 -9.9 9.7
Average 19.4 13.3 1.1 1.0 1.2 8.2
Chemical
TPIA SELL 3.0 11,275 10,250 9,113 -9.1 777.6 129.6 7.8 7.8 1.0 6.0
BRPT BUY 1.4 990 1,150 1,198 16.2 206.9 126.4 5.3 5.3 2.5 4.2
ESSA SELL 0.1 360 225 N/A -37.5 n/a n/a 2.5 1.2 -20.0 -0.5
Average 492.2 128.0 5.2 4.8 -5.5 3.2
Utilities
JSMR BUY 0.4 4,130 5,000 5,661 21.1 62.6 20.8 1.2 1.2 2.0 5.6
Metal
ANTM BUY 0.8 2,210 3,230 3,475 46.2 35.6 21.7 2.7 2.5 7.7 11.7
Stock Rec.
Equity Research│31 March 2021
JCI Wgt Last price TP SSI TP Cons SSI Upside PE (x) PE (x) PBV (x) PBV (x) ROE (%) ROE (%)
(%) (IDR) (IDR) (IDR) (%) 20E 21E 20E 21E 20E 21E
Coal
ITMG BUY 0.2 11,850 13,550 14,578 14.3 8.2 8.2 1.2 1.4 14.3 16.7
ADRO BUY 0.6 1,175 1,530 1,660 30.2 8.1 8.1 0.7 0.7 8.5 8.8
PTBA HOLD 0.4 2,630 2,830 3,064 7.6 12.3 10.4 1.8 1.6 14.6 15.8
Average 9.5 8.9 1.2 1.2 12.5 13.8
Plantation
AALI BUY 0.3 10,175 13,800 14,698 35.6 29.3 18.5 1.0 1.0 3.5 5.3
LSIP BUY 0.1 1,325 1,730 1,636 30.6 13.0 10.6 0.9 0.9 7.1 8.3
TBLA HOLD 0.1 905 980 1,235 8.3 7.5 6.1 0.8 0.7 11.0 12.2
SIMP SELL 0.1 505 388 513 -23.2 45.9 29.7 0.5 0.5 1.2 1.8
SSMS BUY 0.1 940 1,500 1,228 59.6 27.6 11.9 2.0 1.8 7.4 15.0
Average 24.7 15.4 1.1 1.0 6.0 8.5
Source: SSI Research, Bloomberg
Note: GIAA, INKP, PGAS, ITMG, ADRO, MEDC, BRPT, INCO, DOID, TPIA report in USD.
Stock Rec.
Equity Research│31 March 2021
Chg (Pts)
1D 1D 1W 1M 3M YTD 1YR High Low
World 2,805 (6.43) (0.23) 1.37 2.87 4.28 4.28 51.40 2,838 1,764
U.S. (S&P) 3,959 (12.54) (0.32) 1.23 3.87 5.39 5.39 53.16 3,984 2,447
U.S. (DOW) 33,067 (104.41) (0.31) 1.99 6.90 8.74 8.04 48.10 33,259 20,735
Europe 3,926 43.33 1.12 2.59 7.97 10.52 10.52 40.88 3,929 2,626
Emerging Market 1,320 9.38 0.72 1.62 (1.48) 2.19 2.19 55.49 1,449 822
FTSE 100 6,772 35.95 0.53 1.09 4.45 4.82 4.82 19.40 6,904 5,395
CAC 40 6,088 72.53 1.21 2.40 6.75 9.67 9.67 38.49 6,095 4,142
Dax 15,009 190.89 1.29 2.36 8.87 9.40 9.40 51.06 15,030 9,337
Indonesia 6,071 (95.38) (1.55) (2.90) (2.73) 1.54 1.54 37.53 6,505 4,394
Japan 29,215 (217.30) (0.74) 2.85 0.86 6.45 6.45 54.44 30,715 17,647
Australia 6,823 84.15 1.25 0.65 2.24 3.58 3.58 34.39 6,938 5,006
Korea 3,085 14.77 0.48 2.95 2.38 7.35 7.35 75.81 3,266 1,664
Singapore 3,191 15.32 0.48 1.89 8.20 12.20 12.20 28.60 3,204 2,381
Malaysia 1,609 (2.09) (0.13) 0.87 1.99 (1.11) (1.11) 19.12 1,696 1,317
Hong Kong 28,578 239.20 0.84 0.28 (1.39) 4.94 4.94 21.07 31,183 22,520
China 3,457 21.38 0.62 1.32 (1.49) (0.47) (0.47) 25.68 3,732 2,720
Taiwan 16,555 78.93 0.48 2.33 3.77 12.37 12.37 70.53 16,579 9,630
Thailand 1,590 5.64 0.36 1.62 6.20 9.67 9.67 41.18 1,594 1,104
Philipines 6,546 (62.23) (0.94) 1.54 (3.67) (8.32) (8.32) 23.01 7,432 5,226
1D 1D 1W 1M 3M YTD 1YR High Low
Foreign Reserves (US$Bn) 138.80 0.58 3.89 2.14 6.41 138.80 120.97
Inflation Rate (yoy, %) 1.38 2.96 1.32
Gov Bond Yld (10yr, %) 6.79 (14.19) 8.25 5.86
US Fed Rate (%) 0.25 0.25 0.25
Chg (Pts)
1D 1D 1W 1M 3M YTD 1YR High Low
Indonesia 14,480 35.00 (0.24) (0.59) (1.55) (2.97) (2.97) 12.83 16,563 13,865
Japan 110.60 0.24 (0.22) (1.69) (3.47) (6.65) (6.65) (2.77) 110.60 102.59
UK 1.37 0.00 0.02 0.42 (1.31) 0.53 0.53 10.65 1.42 1.21
Euro 1.17 0.00 0.05 (0.76) (2.71) (4.04) (4.04) 6.27 1.23 1.07
China 6.57 0.00 (0.03) (0.85) (1.61) (0.74) (0.68) 8.04 7.18 6.42
Chg (Pts)
1D 1D 1W 1M 3M YTD 1YR High Low
Oil (Brent) 64.14 0.00 0.00 (0.42) (3.01) 23.82 23.82 182.06 71.38 15.98
CPO 3,572 (175.00) (4.67) (9.11) (4.54) (0.45) (0.78) 46.33 4,066 1,944
Rubber 1,126.50 (7.50) (0.66) (1.92) (2.13) 20.16 20.16 62.67 1,262.50 685.00
Coal 93.85 0.85 0.91 (0.79) 13.14 15.01 16.58 36.01 99.00 47.50
Tin 26,810 (610.00) (2.22) (3.06) 1.02 30.48 30.50 84.25 31,000 14,350
Nickel 15,948 (268.00) (1.65) (1.24) (14.15) (4.95) (4.00) 40.88 20,110 10,950
Copper 8,774 (91.50) (1.03) (2.30) (3.34) 11.80 12.97 83.95 9,617 4,760
Gold 1,682 (1.90) (0.11) (2.95) (2.67) (11.15) (11.15) 6.23 2,074 1,575
Source: Bloomberg, SSI Research
Change (%) 1 Year
Change (%) 1 Year
Change (%) 1 Year
Commodity Indicators Last Price Regional Indices Last Price
Exchange Rate (per USD) Last Price
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 available to others. Under no
Equity Research│31 March 2021
Research Team
Suria Dharma Head of Equity Research, Strategy,
Banking, Consumer Staples suria.dharma@samuel.co.id +6221 2854 8148
Ahmad Mikail Zaini Economist ahmad.mikail@samuel.co.id +6221 2854 8396
William Mamudi, CFTe, CMT Technical Analyst william.mamudi@samuel.co.id +6221 2854 8382 Muhamad Alfatih CSA, CTA,
CFTe Senior Technical Portfolio Advisor m.alfatih@samuel.co.id +6221 2854 8129
Yosua Zisokhi Cement , Cigarette,Paper,
Plantation,Telco Infra, Chemical yosua.zisokhi@samuel.co.id +6221 2854 8387 Dessy Lapagu Aviation, Coal, Metal, Retail dessy.lapagu@samuel.co.id +6221 2854 8392 Selvi Ocktaviani Automotive,Construction, Mining Cont.,
Precast,Telco, Toll Roads selvi.ocktaviani@samuel.co.id +6221 2854 8393
Nashrullah Putra Media, Poultry nashrullah.putra@samuel.co.id +6221 2854 8739
Olivia Laura Anggita Healthcare, Property olivia.laura@samuel.co.id +6221 2854 8393
Ahmad Fadillah Oil & Gas ahmad.fadillah@samuel.co.id +6221 2854 8144
Calista Muskitta Research Associate calista.muskitta@samuel.co.id +6221 2854 8331
Equity Institutional Team
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Sylviawati Customer Service sylviawati@samuel.co.id +6221 2854 8193
Private Wealth Management
Evelyn Satyono Head of PWM Equity Sales evelyn.satyono@samuel.co.id +6221 2854 8380
Clarice Wijana PWM Equity Sales clarice.wijana@samuel.co.id +6221 2854 8395
Gitta Wahyu Retnani PWM Equity Sales gitta.wahyu@samuel.co.id +6221 2854 8365
Wahyudi Budiyono Dealer wahyudi.budiyono@samuel.co.id +6221 2854 8152
Equity Retail Team
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Lucia Irawati Retail Equity Sales lucia.irawati@samuel.co.id +6221 2854 8173
Salt World Widjaja Retail Equity Sales salt@samuel.co.id +6221 2854 8163
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Wahyu Widodo Marketing wahyu.widodo@samuel.co.id +6221 2854 8371
