DAILY. IHSG Diproyeksikan Melemah Seiring Lonjakan COVID-19 dan Sinyal Tapering. Highlights. Market DAILY RESEARCH

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DAILY RESEAR CH

Market

Market Activity

Market Index : 6,007.1

Index Movement : -61.3 -1.01%

Market Volume : 25,784 Mn shrs Market Value : 15,963 Bn rupiah

Last

Close +/- %

Leading Movers

SMMA 14,425 2325 19.2

BINA 3,080 610 24.7

UNTR 22,775 775 3.5

TOWR 1,220 35 3.0

Lagging Movers

BBRI 3,910 -120 -3.0

UNVR 4,900 -175 -3.4

BBNI 4,940 -310 -5.9

MDKA 2,870 -210 -6.8

Foreign Net Buy / Sell (Regular Market) Net Buy (IDR bn) Net Sell (IDR bn)

BMRI 87 BBRI 156

ASII 61 MDKA 129

TLKM 57 INDF 55

BBCA 42 ICBP 43

UNTR 34 ANTM 37 Money Market

Last

Close +/- %

USD/IDR 14,375 20.0 -0.1

JIBOR O/N 5.9 0.0

Dual Listing Securities Last

Close +/- %

TLKM 23.1 -0.3 -1.4

EIDO 20.7 -0.5 -2.5

Global Indices Last

Close +/- %

DJIA 33,290 -533 -1.6

S&P 500 4,166 -55 -1.3

Euro Stoxx 4,083 -75 -1.8

MSCI World 2,954 -42 -1.4

STI 3,144 68 2.2

Nikkei 28,322 518 1.8

Hang Seng 28,801 243 0.8

Commodities Last

Close +/- %

Brent Oil 74 0.6 0.8

Coal (ICE) 124 -0.8 -0.6

CPO Malay 3,593 44.0 1.2

Nickel 17,130 -18.0 -0.1

Tin 29,862 -738.0 -2.41

Changes Changes

Changes

Changes Friday, 18 Jun 2021

IHSG Diproyeksikan Melemah Seiring Lonjakan COVID-19 dan Sinyal Tapering

Pada penutupan pekan lalu (18/6) pasar AS bergerak terkoreksi cukup dalam, Index Dow Jones melemah -1.58%, S&P500 turun -1.31%, dan Nasdaq pun terkoreksi - 0.92%. Pelemahan tersebut menanggapi pernyataan hawkish The Fed pada FOMC meeting pekan lalu, yang menyatakan suku bunga akan naik dua kali pada tahun 2023, memunculkan kekhawatiran akan tapering akan datang lebih cepat. Dollar Index mengalami penguatan +1.8% ke level 92.346, namun yield UST 10Y melemah ke level 1.44%.

Pasar komoditas terpantau bergerak mixed. Pada Jumat lalu, WTI naik +0.85% ke level USD 71.6/Bbl, Brent bergerak naik (+0.2% ke level USD 73/Bbl), pergerakan harga batubara dan nikel melemah -0.6% ke level USD 123/Ton dan -0.1% ke level USD 17,126/Ton. CPO mengalami kenaikan +1.1% ke level MYR 3,415/Ton. Harga emas terpantau melemah (-0.5% ke level USD 1,764/t.oz).

Dari dalam negeri, kembali melonjaknya penambahan kasus harian menjadi perhatian utama pasar saat ini. Terjadi penambahan 13,737 kasus baru COVID-19 pada hari Minggu (20/6) (Sabtu: 12,906 kasus) dengan positive rate sebesar 22.8%

(Sabtu: 17.1%). Sejauh ini, telah ditemukan sebanyak 1.98 juta kasus COVID-19 di Indonesia, dengan 1.7 juta di antaranya sembuh (recovery rate 90.1%). Terkait vaksinasi, sejauh ini 23.0 juta orang di Indonesia telah menerima dosis pertama vaksin COVID-19 (+170 ribu pada Minggu) dan 12.2 juta telah menerima dosis kedua (+26 ribu pada Minggu), merefleksikan 12.7% dari total target.

IHSG bergerak melemah -1.45% selama sepekan lalu, dan terkoreksi -1.01% pada hari Jumat (18/6) ke level 6,007. Pekan lalu terjadi net sell asing sebesar IDR -702 miliar, dan pada perdagangan Jumat lalu, tercatat net sell asing sebesar IDR -193 miliar. Pekan ini minim sentimen rilis data, investor akan memantau kenaikan kasus Covid-19 dan kebijakan pemerintah untuk mencegah kenaikan kasus harian, Selain itu, beberapa aksi korporasi right issue emiten besar seperti BBRI dan BBNI turut menjadi perhatian investor.

Pagi ini pasar regional dibuka melemah, dengan Kospi -0.67% dan Nikkei -2.23%.

Untuk IHSG pada hari ini kami perkirakan akan bergerak melemah, dikarenakan kekhawatiran investor akan melonjaknya kasus Covid-19, yang dikhawatirkan mengganggu jalannya perekonomian dan risiko Kembali diterapkannya lockdown.

DAILY RESEARCH

 INTP : Mei volume penjualan semen naik +12.5

 PTPP : Kontrak Baru 5M21

21 June 2021

Highlights

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Equity Research│21 June 2021

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 1-Apr-21 1-May-21 1-Jun-21

0 10 20 30 40 50 60 70 80

40 50 60 70 80 90 100 110 120 130

1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000

4,500 5,000 5,500 6,000 6,500 7,000 7,500 8,000

12,000 14,000 16,000 18,000 20,000 22,000

1,400 1,500 1,600 1,700 1,800 1,900 2,000 2,100 2,200

`

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 %

6/20/2021 1,989,909 0.70 13,737 - 1,792,528 6,385 54,662 371 142,719 92.83 6/19/2021 1,976,172 0.66 12,906 - 1,786,143 7,016 54,291 248 135,738 93.13 6/18/2021 1,963,266 0.67 12,990 2.90 1,779,127 7,907 54,043 290 130,096 93.37 6/17/2021 1,950,276 0.65 12,624 26.95 1,771,220 7,350 53,753 277 125,303 93.58 6/16/2021 1,937,652 0.52 9,944 21.85 1,763,870 6,229 53,476 196 120,306 93.79 6/15/2021 1,927,708 0.43 8,161 (0.34) 1,757,641 6,407 53,280 164 116,787 93.94 6/14/2021 1,919,547 0.43 8,189 (17.01) 1,751,234 6,143 53,116 237 115,197 94.00

Average 11,222 6,777 255 93.52

Source: SSI Research, Bloomberg

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INTP: Mei volume penjualan semen naik +12.5

PT Indocement Tunggal Prakarsa Tbk (INTP) yang mencatatkan volume penjualan semen sebesar 900.000 ton sepanjang Mei 2021. Realisasi ini naik 12.5% dari volume penjualan di periode yang sama tahun sebelumnya yang hanya 800.000 ton. Namun turun dari April 2021, yang menjual 1.3 juta ton semen. Sampai dengan Mei 2021 volume penjualan INTP sudah mencapai 6.2 juta ton semen naik 10% yoy. (Kontan)

Comment:

Kenaikan volume penjualan cukup wajar terjadi di tengah dunia usaha yang lebih baik dibandingkan Januari- Mei 2020 dimana pandemi mulai tinggi. Volume semen nasional juga naik, kecuali di Jakarta dan Jawa Timur.

Namun dengan kembali melonjaknya kasus covid nasional, akan menjadi tantangan bagi penjualan semen.

Kami memproyeksikan volume INTP dapat naik 4.0% yoy hingga akhir tahun 2021. INTP: Under review (Prev:

BUY: 25.4x PE '21E, 1.8x PBV '21E, TP: IDR 16,250)

PTPP: Kontrak Baru 5M21

PT PP (Persero) Tbk. melaporkan perolehan kontrak baru mencapai IDR 6.7 triliun hingga akhir Mei 2021. Realisasi tersebut di bawah nilai kontrak baru pada periode yang sama tahun lalu IDR 7.5 triliun. Dengan demikian, emiten dengan kode saham PTPP ini telah mendapatkan 22.25% target kontrak baru yang dibidik tahun ini senilai IDR 30.1 triliun. (Bisnis Indonesia)

Comment:

Kami menilai lelang kontrak baru tahun ini masih penuh tantangan terutama dengan kasus covid yang masih meningkat cenderung membuat pemilik proyek melakukan wait and see. Kondisi tersebut membuat kami menilai target kontrak baru PTPP senilai IDR 30 triliun, hanya akan tercapai di kisaran 70-80% nya saja.

Sehingga perolehan kontrak baru PTPP hingga Mei 2021 mencapai 28% dari target SSI sebesar IDR 24 triliun.

PTPP telah berhasil mendivestasi asset tol Medan Kualanamu dengan nilai IDR 412 miliar, dan potensi laba

mencapai IDR 200 miliar. PTPP: Under review (Prev: BUY: 7.9x PE '21E, 0.4x PBV '21E, TP: IDR 1,900)

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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 10.9 31,625 40,500 37,396 28.1 28.8 24.5 4.2 3.8 14.7 15.7

BBRI BUY 6.8 3,910 5,300 5,010 35.5 24.9 14.7 2.6 2.3 10.3 15.8

BMRI BUY 4.1 6,200 8,000 7,955 29.0 16.9 12.2 1.5 1.5 9.1 12.1

BBNI BUY 1.3 4,940 8,500 7,267 72.1 30.9 7.1 0.8 0.7 2.6 9.7

BBTN BUY 0.2 1,470 2,300 2,126 56.5 9.7 6.1 0.8 0.7 8.1 11.4

BNLI SELL #N/A N/A 1,985 1,376 2,400 -30.7 36.8 34.2 2.2 2.1 0.1 0.1

Average 19.1 8.5 1.0 1.0 6.6 11.1

Consumer (Staples)

ICBP BUY 1.3 7,750 12,000 12,203 54.8 13.4 13.2 3.0 2.6 22.3 19.9

INDF BUY 0.7 5,975 9,500 8,850 59.0 10.7 10.8 1.3 1.2 11.9 11.0

KLBF BUY 0.9 1,360 1,750 1,770 28.7 23.1 20.9 3.7 3.4 16.0 16.0

UNVR BUY 2.6 4,900 7,900 6,751 61.2 26.1 25.8 38.0 37.4 145.7 145.0

SIDO BUY 0.3 745 970 926 30.2 24.0 20.6 7.0 6.5 29.1 31.5

Average 19.4 18.3 10.6 10.2 45.0 44.7

Cigarette

HMSP BUY 1.9 1,125 1,460 1,248 29.8 15.2 15.4 4.3 4.3 28.5 28.1

GGRM BUY 1.0 35,750 44,400 37,431 24.2 8.1 7.9 1.2 1.1 14.2 13.9

Average 11.7 11.6 2.7 2.7 21.4 21.0

Healthcare

MIKA BUY 0.5 2,540 3,500 3,213 37.8 42.6 40.2 7.5 6.7 17.5 16.8

SILO HOLD 0.2 8,300 9,100 9,133 9.6 592.9 251.5 2.3 2.2 0.4 0.9

HEAL BUY 0.2 4,510 5,700 5,600 26.4 41.4 35.8 5.5 4.8 13.3 13.5

Average 225.6 109.2 5.1 4.6 10.4 10.4

Poultry

CPIN BUY 1.5 6,375 7,300 7,186 14.5 36.2 27.8 5.0 4.6 13.7 16.4

JPFA BUY 0.3 1,915 2,400 2,390 25.3 23.9 12.6 1.9 1.6 8.0 13.1

MAIN BUY 0.0 755 890 1,050 17.9 n/a 11.1 0.8 0.8 -0.9 6.8

WMUU BUY 0.0 180 370 370 105.6 #DIV/0! 7.6 #DIV/0! 1.7 #DIV/0! 23.1

Average 30.1 17.2 2.6 2.3 7.0 12.1

Retail

MAPI BUY 0.2 735 975 953 32.7 n/a 20.4 2.3 4.7 -10.4 23.1

RALS #VALUE!#N/A Requesting Data...0.1 900 816 #VALUE! #VALUE! #VALUE! #VALUE! ###### -1.5 7.7 ACES #VALUE!#N/A Requesting Data...0.3 1,900 1,744 #VALUE! #VALUE! #VALUE! #VALUE! ###### 16.1 19.6

LPPF SELL 0.1 1,730 1,100 1,296 -36.4 n/a 13.4 2.9 4.6 -35.0 34.1

Average #VALUE! #VALUE! #VALUE! ###### 1.4 16.8

Pulp and Paper

INKP SELL 0.6 7,800 7,000 N/A -10.3 9.0 10.8 0.7 0.6 7.6 6.0

Average 9.0 10.8 0.7 0.6 7.6

Media

MNCN BUY 0.2 935 1,400 1,454 49.7 5.7 5.2 0.8 0.7 14.9 14.3

SCMA BUY 0.3 1,520 2,200 2,029 44.7 19.0 17.3 4.6 4.1 24.4 23.7

Average 12.4 11.2 2.7 2.4 19.6 19.0

Telco

EXCL BUY 0.4 2,580 3,000 3,164 16.3 73.7 37.4 1.4 1.4 1.9 3.8

ISAT BUY 0.5 5,650 7,250 6,936 28.3 n/a 65.7 2.4 0.3 -5.6 0.4

TLKM BUY 4.7 3,350 4,050 4,176 20.9 16.0 14.8 2.7 2.6 17.2 17.7

Average 44.8 39.3 2.2 1.4 4.5 7.3

Telco Retail

ERAA BUY 0.1 660 1,625 717 146.2 3.5 2.9 0.4 0.3 11.0 11.9

Stock Rec.

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Auto

ASII BUY 2.9 5,000 6,750 6,726 35.0 11.2 10.2 1.0 1.0 9.0 9.6

Average 11.2 10.2 1.0 1.0 9.0

Mining Contracting

UNTR BUY 1.2 22,775 31,000 27,920 36.1 12.3 9.1 1.4 1.3 11.2 13.8

Average 12.3 9.1 1.4 1.3 11.2

Aviation

GIAA #VALUE! 0.1 #N/A N/A 650 455 #VALUE! #VALUE! #VALUE! #VALUE! ###### 17.5 16.9

Average #VALUE! #VALUE! #VALUE! ###### 17.5

Property

BSDE BUY 0.3 985 1,350 1,488 37.1 14.7 11.1 0.6 0.5 4.0 4.9

PWON BUY 0.3 446 530 635 18.8 34.3 12.1 0.9 1.5 2.6 12.1

ASRI SELL 0.0 172 130 246 -24.4 13.2 6.1 0.3 0.3 2.3 4.7

LPKR SELL 0.2 174 140 230 -19.5 n/a n/a 0.4 0.4 -0.5 -0.2

SMRA BUY 0.2 840 1,200 1,051 42.9 49.4 29.0 1.7 1.6 3.4 5.4

CTRA BUY 0.2 920 1,100 1,343 19.6 21.9 17.0 1.1 1.1 5.1 6.2

Average 26.7 15.1 0.8 0.9 2.8 5.5

Industrial Estate

SSIA BUY 0.0 434 700 632 61.3 n/a 39.5 0.5 0.5 -1.6 1.3

DMAS BUY 0.1 212 250 274 17.9 14.1 12.5 1.4 1.6 9.6 12.7

KIJA SELL 0.1 187 150 N/A -19.8 17.0 14.4 0.7 0.5 4.0 3.4

Average 15.6 22.1 0.9 0.9 4.0 5.6

Construction

PTPP BUY 0.1 970 1,900 1,608 95.9 44.1 7.9 0.4 0.4 0.9 4.9

ADHI BUY 0.0 870 1,800 1,345 106.9 36.3 8.4 0.5 0.5 1.5 6.1

WSKT BUY 0.2 980 1,400 1,257 42.9 n/a n/a 0.8 0.9 -44.6 -7.4

WIKA BUY 0.1 1,125 1,400 1,731 24.4 11.7 7.7 0.6 0.5 5.0 7.1

Average 30.7 8.0 0.6 0.6 -9.3 2.6

Cement

INTP BUY 0.6 11,000 16,250 16,093 47.7 30.6 25.4 1.8 1.8 5.8 6.9

SMGR BUY 0.8 9,900 13,050 13,532 31.8 26.0 20.9 1.6 1.6 6.3 7.4

Average 28.3 23.1 1.7 1.7 6.1 7.2

Precast

WSBP BUY 0.1 166 230 243 38.6 15.1 4.5 0.4 0.4 2.9 8.9

WTON BUY 0.0 258 450 414 74.4 23.5 7.0 0.7 0.6 2.9 8.9

Average 19.3 5.7 0.6 0.5 2.9 8.9

Oil and Gas

PGAS BUY 0.4 1,060 1,700 1,518 60.4 19.3 15.1 0.6 0.6 3.3 4.1

AKRA BUY 0.2 3,130 4,000 4,174 27.8 13.6 12.4 1.4 1.4 10.6 11.0

MEDC BUY 0.2 670 1,090 869 62.7 n/a 9.2 1.0 0.9 -9.9 9.7

Average 16.4 12.2 1.0 1.0 1.3 8.3

Chemical

TPIA HOLD 2.4 9,450 10,250 8,950 8.5 651.7 108.6 6.5 6.5 1.0 6.0

BRPT BUY 1.1 860 1,150 1,034 33.7 179.7 109.8 4.6 4.6 2.5 4.2

ESSA SELL 0.1 342 225 540 -34.2 n/a n/a 2.4 1.2 -20.0 -0.5

Average 415.7 109.2 4.5 4.1 -5.5 3.2

Utilities

JSMR BUY 0.4 3,900 5,000 5,355 28.2 59.1 19.6 1.2 1.1 2.0 5.6

Metal

ANTM BUY 0.8 2,230 3,230 3,379 44.8 36.0 21.9 2.8 2.6 7.7 11.7

MDKA SELL 0.9 2,870 2,030 3,101 -29.3 n/a 15.6 10.4 11.4 15.7 72.9

INCO BUY 0.6 4,310 6,730 6,290 56.1 29.7 29.7 1.5 1.5 5.0 5.0

TINS BUY 0.2 1,505 1,775 1,650 17.9 n/a 1710.2 2.1 2.6 -4.2 0.1

Stock Rec.

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Coal

ITMG SELL 0.2 14,600 13,550 16,360 -7.2 10.1 10.1 1.4 1.7 14.3 16.7

ADRO BUY 0.6 1,310 1,530 1,610 16.8 9.0 9.0 0.8 0.8 8.5 8.8

PTBA BUY 0.3 2,120 2,800 2,874 32.1 10.0 8.5 1.5 1.2 14.6 14.2

Average 9.7 9.2 1.2 1.2 12.5 13.2

Plantation

AALI BUY 0.2 8,025 13,800 13,460 72.0 23.1 14.6 0.8 0.8 3.5 5.3

LSIP BUY 0.1 1,050 1,730 1,644 64.8 10.3 8.4 0.7 0.7 7.1 8.3

TBLA BUY 0.1 795 980 1,190 23.3 6.6 5.3 0.7 0.7 11.0 12.2

SIMP SELL 0.1 452 388 N/A -14.2 41.1 26.6 0.5 0.5 1.2 1.8

SSMS BUY 0.1 845 1,500 1,525 77.5 24.9 10.7 1.8 1.6 7.4 15.0

Average 21.2 13.1 0.9 0.8 6.0 8.5

Source: SSI Research, Bloomberg

Note: GIAA, INKP, PGAS, ITMG, ADRO, MEDC, BRPT, INCO, DOID, TPIA report in USD.

Stock Rec.

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Chg (Pts)

1D 1D 1W 1M 3M YTD 1YR High Low

World 2,954 (42.32) (1.41) (2.18) 0.38 5.65 9.82 33.74 3,026 2,149

U.S. (S&P) 4,166 (55.41) (1.31) (1.91) 0.25 6.47 10.93 34.50 4,257 3,000

U.S. (DOW) 33,290 (533.37) (1.58) (3.45) (2.68) 2.03 8.77 28.67 35,092 24,971

Europe 4,083 (74.77) (1.80) (1.05) 1.43 6.42 14.94 24.91 4,166 2,921

Emerging Market 1,361 (1.64) (0.12) (1.59) 2.35 1.83 5.42 35.94 1,449 989

FTSE 100 7,017 (135.96) (1.90) (1.63) (0.01) 4.60 8.62 11.52 7,218 5,526

CAC 40 6,569 (97.10) (1.46) (0.48) 2.86 9.52 18.33 31.93 6,687 4,513

Dax 15,448 (279.63) (1.78) (1.56) 0.07 5.66 12.61 25.28 15,803 11,450

Indonesia 6,007 (61.33) (1.01) (1.45) 4.05 (5.49) 0.47 21.55 6,505 4,755

Japan 28,322 (641.79) (2.22) (2.88) 0.02 (4.93) 3.20 26.00 30,715 21,710

Australia 7,246 (122.75) (1.67) (0.91) 3.07 8.02 10.00 21.94 7,406 5,763

Korea 3,238 (29.62) (0.91) (0.42) 2.59 6.54 12.70 51.23 3,282 2,088

Singapore 3,144 5.85 0.19 (0.44) 0.84 0.31 10.56 19.33 3,237 2,421

Malaysia 1,589 18.19 1.16 0.88 1.72 (2.28) (2.35) 5.43 1,696 1,452

Hong Kong 28,801 242.68 0.85 0.22 1.20 (0.65) 5.77 16.87 31,183 23,124

China 3,525 (0.51) (0.01) (2.38) 1.11 3.54 1.50 18.78 3,732 2,936

Taiwan 17,319 (72.07) (0.41) 0.93 6.24 7.77 17.55 49.95 17,709 11,501

Thailand 1,613 (4.67) (0.29) (1.44) 3.90 3.13 11.29 17.67 1,643 1,187

Philipines 6,851 (36.54) (0.53) (0.82) 10.52 6.45 (4.04) 8.49 7,432 5,692

Foreign Reserves (US$Bn) 136.40 (1.73) (1.73) 0.37 4.48 138.80 131.72

Inflation Rate (yoy, %) 1.68 1.96 1.32

Gov Bond Yld (10yr, %) 6.54 (8.93) 7.25 5.86

US Fed Rate (%) 0.25 0.25 0.25

Chg (Pts)

Indonesia 14,375 20.00 (0.14) (1.29) (0.71) 0.24 (2.26) (2.07) 14,950 13,865

Japan 110.19 (0.02) 0.02 (0.11) (1.12) (1.22) (6.30) (2.98) 110.97 102.59

UK 1.38 0.00 0.08 (2.06) (2.33) (0.31) 1.10 10.84 1.42 1.23

Euro 1.19 0.00 0.08 (2.03) (2.53) (0.49) (2.80) 5.44 1.23 1.12

China 6.45 0.00 (0.07) (0.84) (0.42) 0.83 1.15 9.86 7.09 6.36

Chg (Pts)

Oil (Brent) 73.70 0.19 0.26 1.15 10.93 14.21 42.28 74.69 74.96 35.74

CPO 3,424 47.00 1.39 (5.54) (23.18) (9.87) (4.89) 44.66 4,468 2,277

Rubber 921.00 (5.00) (0.54) (3.21) (13.72) (20.26) (1.76) 12.87 1,262.50 767.50

Coal 123.50 (0.75) (0.60) (0.40) 24.06 37.22 53.42 135.24 123.50 47.50

Tin 31,365 (732.00) (2.28) (4.66) (4.75) 10.28 52.67 84.34 34,510 16,700

Nickel 17,154 (20.00) (0.12) (5.89) (4.53) 6.97 3.26 33.04 20,110 12,425

Copper 9,146 (170.00) (1.82) (8.58) (12.10) 0.99 17.76 57.55 10,748 5,807

Gold 1,770 1.90 0.11 (5.06) (5.67) 1.64 (6.49) 1.33 2,074 1,673

Source: Bloomberg, SSI Research

Change (%) 1 Year

Commodity Indicators Last Price Regional Indices Last Price

Exchange Rate (per USD) Last Price

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Research Team

Suria Dharma Head of Equity Research, Strategy, Banking,

Consumer Staples suria.dharma@samuel.co.id +6221 2854 8148

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 8346

Ahmad Fadillah Oil & Gas ahmad.fadillah@samuel.co.id +6221 2854 8144

Calista Muskitta Research Associate calista.muskitta@samuel.co.id +6221 2854 8331

Adolf Richardo Editor, Translator adolf.richardo@samuel.co.id +6221 2854 8396

Equity Institutional Team

Benny Bambang Soebagjo Head of Institutional Equity Sales benny.soebagjo@samuel.co.id +6221 2854 8312 Ronny Ardianto Institutional Equity Sales ronny.ardianto@samuel.co.id +6221 2854 8399 Fachruly Fiater Institutional Equity Sales fachruly.fiater@samuel.co.id +6221 2854 8325 Henry Sutanto Institutional Equity Sales hensry.sutanto@samuel.co.id +6221 2854 8329

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

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

Fixed Income Sales Team

R. Virine Tresna Sundari Head of Fixed Income virine.sundari@samuel.co.id +6221 2854 8170

Rudianto Nugroho Fixed Income Sales rudianto.nugroho@samuel.co.id +6221 2854 8306

Sany Rizal Keliobas Fixed Income Sales sany.rizal@samuel.co.id +6221 2854 8337

Julio Simangunsong Fixed Income Sales julio.natanael@samuel.co.id +6221 28548384

Thita Rossiana Putri Admin & Sales Support Fixed Income Thita.rossiana@samuel.co.id +62-21 2854 8385

Online Trading Sales Team

Joseph Soegandhi Head of OLT joseph.soegandhi@samuel.co.id +6221 2854 8872

Nugroho Nuswantoro Head of Marketing Online Trading nugroho.nuswantoro@samuel.co.id +6221 2854 8372

Wahyu Widodo Marketing wahyu.widodo@samuel.co.id +6221 2854 8371