See important disclaimer at the end of this report

(1)

ID X St at ist ics C lo sing

JCI 5,761.07

Transaction Value Regular M arket (IDR tn) 5.035 Transaction Volume Regular M arket (mn shares) 7,384

Foreign Net Buy (Sell) (IDR bn) (900)

Foreign Net Buy (Sell) (3.90)

Total M arket Capitalization (IDR tn) 6,515.18

LQ45 904.13 0.69 (16.24)

Crude Oil (USD/barrel) 74.21 7:54:31 AM 22.82 Coal (USD/mn tons) 112.75 10/8/2018 11.86 Natural Gas (USD/mmBtu) 3.29 7:52:26 AM 11.24 Gold (USD/ounce) 1,189.33 8:04:33 AM (8.70)

Nickel (USD/mn tons) 12,620.00 8:04:33 AM (1.10)

Tins (USD/mn tons) 18,900.00 10/8/2018 (5.62)

CPO (M YR/mn tons) 2,116.00 10/8/2018 (13.42)

Rubber (JPY/kg) 158.30 7:20:33 AM (22.93) dap Dollar AS ke level Rp 15.194. 10Yr Governm ent Bonds Yield naik ke level 8.53% .

• Dari dalam negeri, Kem ent rian ESDM m em prediksi re-alisasi penerim aan sekt or m inerba hingga awal Okt ober ini sudah m elam paui dari t ar get yang dit et apkan yait u Rp 36 t riliun. Sam pai akhir t ahun nant i, realisasi penerim aan diproyeksikan akan m enyent uh Rp 40 t riliun.

• Dari dalam negeri, Bank I ndonesia m encat at kan Survei diprediksi bergerak di kisaran 5728 - 5794.

(2)

D a ily Cor por a t e a n d I n du st r y N e w s

I ndonesia m em anfaat kan pert em uan t ahunan Dana Monet er I nt ernasional ( I MF) dan Bank Dunia ( World Bank/ WB) di Bali pada 8 - 14 Okt ober unt uk m enarik invest asi, khususnya asing. Ada puluhan invest asi bernilai lebih dari Rp 300 t riliun yang akan dit andat angani di sela pert em uan I MF - WB. I nvest asi t ersebut t erdiri at as proyek infrast rukt ur yang dit awarkan pem erint ah senilai US$ 7 m iliar at au set ara Rp 105 t riliun sert a proyek - proyek di 21 BUMN dengan nilai Rp 200 t riliun. Pem erint ah sendiri m enawarkan proyek - proyek non- APBN senilai US$ 34,8 m iliar at au set ara Rp 522 t riliun. Source: I nvest or Daily

Bank sent ral China m em ot ong biaya pencadangan perbankan sebesar 100 basis poin ( bps) dari saat ini 15.5% , pada Minggu ( 7/ 10) . I ni m erupakan pem ot ongan cadangan keem pat t ahun ini. Pem angkasan cadangan t erbaru ini akan m enyunt ik kas sebesar 750 m iliar yuan at au sekit ar US$ 109,2 m iliar ke dalam sist em perbankan. Likuidit as bakal bert am bah hingga 1,2 t riliun yuan. Source: Kont an

Ket ua Kom it e Tet ap Perkebunan Kam ar Dagang dan I ndust ri ( Kadin) Rudyan Kopot m engat akan, pelem ahan rupiah yang t erj adi j ust ru m enam bah pem asukan unt uk sekt or pert anian, salah sat unya unt uk harga m inyak kelapa sawit ( Crude Palm Oil/ CPO) . Sebab kelapa sawit m erupakan salah sat u ekspor t erbesar indonesia. Source: I nvest or Daily

Pelem ahan nilai t ukar rupiah t erhadap dolar Am erika Serikat berlanj ut hingga sore hari kem arin ( 8/ 10) sem pat m e-lem ah ke posisi Rp 15.217 per dolar AS. Depresiasi rupiah sej ak 1 Januari 2018 hingga 8 Okt ober 2018 m encapai 12,26% . Source: I nvest or Daily

Badan Pem eriksa Keuangan ( BPK) m enyat akan Laporan Keuangan Pem erint ah Daerah ( LPKD) yang m endapat predi-kat opini Waj ar Tanpa Pengecualian ( WTP) m elesat j um lahnya, dari 3 LPKD ( 0,65% ) pada 2006 m enj adi 411 LPKD at au 76% pada 2017. Peningkat an k ualit as LPKD ini m erupakan upaya pem erint ah daerah dalam m em perbaiki kele-m ahan yang t erj adi pada 2016. Source: I nvest or Daily

Ekspor m inyak dan gas bum i ( m igas) t idak lagi diwaj ibkan m enggunakan let t er of credit ( L/ C) . Hal ini diat ur Pera-t uran MenPera-t eri Perdagangan ( Perm endag) Nom or 102 Pera-t ahun 2018 Pera-t enPera-t ang Perubahan aPera-t as PeraPera-t uran MenPera-t eri Perda-gangan Nom or 94 t ahun 2018 t ent ang ket ent uan penggunaan L/ C unt uk Ekspor barang t ert ent u. Beleid ini diun-dangkan pada 28 Sept em ber 2018 dan berlaku 7 Okt ober 2018. Source: I nvest or Daily

Direkt ur Penerim aan Mineral dan Bat ubara Kem ent rian ESDM Jonson Pakpahan m engat akan, t arget PNBP t ahun ini dit et apkan sebesar Rp 32,09 t riliun. Realisasi penerim aan hingga awal Okt ober ini sudah m elam paui dari t arget yang dit et apkan t ersebut yait u Rp 36 t riliun. Sam pai akhir t ahun nant i, realisasi penerim aan sekt or m inerba diproyeksikan akan m enyent uh Rp 40 t riliun. Sour ce: I nvest or Daily

Kem ent rian Perindust rian ( Kem perin) akan m endorong percepat an realisasi B20 m encapai 100% t ahun ini. Ke-m udian, t ahun 2019 Ke-m enj adi B25 dan 2020 Ke-m enj adi B30. Road t est B30 akan dilakukan pada ak hir bulan Okt ober. Road t est ini akan dij adikan sebagai review unt uk m em persiapkan pabrikan m em produksi B30. Source: Kont an

I ndeks Penj ualan Ril ( I PR) periode Juli- Sept em ber 2018 berdasarkan Sur vei Penj ualan Eceran yang dilakukan Bank I ndonesia ( BI ) . I PR k uart al I I I 2018 hanya t um buh 4,2% year on year ( yoy) . Padahal di kuart al I I 2018, I PR t um -buh 4,9% yoy. Source: Kont an

Sillo Marit im e Perdana ( SHI P) opt im ist is pendapat an t ahun ini sebesar US$ 62 j ut a. Hingga kuart al I I I - 2018, perse-roan m em perkirakan sudah m encapai 75% dari t arget akhir t ahun at au sekit ar US$ 46 j ut a. Perusahaan t elah m en-dapat kan perpanj angan kont rak unt uk lim a t ahun hingga 2023 dari Pert am ina Hulu Energi ( PHE) senilai US$ 94,58 j ut a. Source: I nvest or Daily

(3)

D a ily Cor por a t e a n d I n du st r y N e w s

Bum i Resources ( BUMI ) ak an m engonversi US$ 4 m iliar at au 80% pendapat an t ahun ini ke m at a uang rupiah. Tahun ini perusahaan m enarget kan bisa m encapai pendapat an US$ 5 m iliar at au sekit ar Rp 75 t riliun. Sour ce: I nvest or Daily

Medco Energi I nt ernat ional ( MEDC) m enj aj aki invest or st rat egis unt uk m enyer ap penerbit an saham baru ( right s is-sue) t anpa hak m em esan efek t erlebih dahulu ( non - HMETD) sebanyak 1.772.892.346 unit saham dengan harga pe-laksanaan Rp 868 per saham . Ak si korporasi yang dit arget kan t unt as t ahun ini dit arget kan m em berikan t am bahan dana segar bagi perseroan hingga 1,54 t riliun. Source: I nvest or Daily

Mat ahari Depart m ent St ore ( LPPF) m endapat rest u dari pem egang saham unt uk m elakukan pem belian kem bali ( buyback) m aksim al 204.254.266 unit saham at au ekuivalen 7% . Perseroan m enganggarkan dana m aksim um Rp 1,25 t riliun yang berasal dari kas int ernal. Source: I nvest or Daily

Ace Hardware ( ACES) sudah m em buka 20 gerai baru pada t ahun ini dan akan m enam bah dua gerai di Bekasi dan Sum at era Ut ara. Jum lah t ersebut j auh lebih banyak ket im bang rencana ekspansi awal yang hanya m enarget kan 15 gerai baru. Source: Kont an

Kobexindo Tract ors ( KOBX) opt im ist is t arget pert um buhan penj ualan alat berat sebesar 40% t ahun ini dapat t ercapai dengan segm en pert am bangan m asih m endom inasi perm int aan alat berat . Source: Kont an

(4)

W or ld Equ it y I n dice s

Source: Bloomberg, Sinarmas Investment Research W O R L D E Q U I T Y I N D I C E S

N O T I C K E R

1 IN D U Index 26,951.81 22,739.38 1,767.56 7.15 20.64 16.73 3.88 3.93 7,353.51 7,353.51

2 SP X Index 2,940.91 2,532.69 210.82 7.89 22.49 17.71 3.30 3.29 25,274.48 25,274.48

3 C C M P Index 8,133.30 6,517.93 832.56 12.06 40.70 22.67 3.80 3.68 12,091.27 12,091.27

4 SP T SX Index 16,586.46 14,785.78 (262.96) (1.62) 19.81 15.46 1.91 1.90 2,452.65 1,891.02

5 M EXB O L Index 51,121.23 44,429.36 (1,261.32) (2.56) 19.72 16.41 2.65 2.63 5,770.57 305.15

6 SX5E Index 3,708.82 3,261.86 (194.24) (5.54) 18.41 13.67 1.67 1.72 2,859.06 3,282.21

7 UKX Index 7,903.50 6,866.94 (454.44) (5.91) 23.22 12.93 1.97 1.97 2,017.26 2,637.37

8 C A C Index 5,657.44 5,038.12 (12.31) (0.23) 18.43 14.12 1.67 1.68 1,577.37 1,810.83

9 D A X Index 13,596.89 11,726.62 (970.48) (7.51) 19.19 12.92 1.86 1.91 1,106.70 1,270.50

10 IB EX Index 10,643.40 9,111.10 (844.70) (8.41) 14.97 11.99 1.47 1.46 573.90 658.83

11 F T SEM IB Index 24,544.26 19,812.43 (2,001.87) (9.16) 581.58 10.89 1.18 1.04 473.39 543.46

12 A EX Index 576.90 515.96 (11.06) (2.03) 18.84 14.24 1.91 1.86 654.28 751.11

13 SM I Index 9,616.38 8,372.90 (417.73) (4.45) 24.52 15.68 2.59 2.57 1,085.62 1,093.06

14 A S51 Index 6,373.50 5,710.80 35.18 0.58 17.95 15.35 2.08 2.02 1,823.69 1,288.62

15 A S30 Index 6,481.30 5,777.60 51.34 0.83 18.90 15.44 2.00 1.94 1,980.42 1,399.37

16 SH SZ 300 Index 4,403.34 3,191.40 (739.96) (18.36) 16.47 11.25 2.05 2.08 26,223.36 3,783.65

17 SH A SH R Index 3,757.20 2,769.10 (618.64) (17.86) 16.86 11.03 1.80 1.83 28,926.48 4,173.67

18 SZ A SH R Index 2,140.56 1,438.39 (537.14) (27.04) 29.07 16.00 3.12 3.10 17,730.29 2,558.23

19 H SI Index 33,484.08 26,187.83 (3,716.58) (12.42) 13.71 10.82 1.39 1.39 17,095.42 2,183.04

20 H SC EI Index 13,962.53 10,196.71 (1,316.01) (11.24) 9.18 7.82 1.05 1.06 10,919.60 1,394.41

21 SEN SEX Index 38,989.65 31,769.40 417.55 1.23 24.56 18.39 3.12 2.89 62,288.08 841.67

22 N IF T Y Index 11,760.20 9,951.90 (182.65) (1.73) 23.85 17.74 3.12 2.87 76,099.71 1,028.31

23 J C I Index 6,693.47 5,557.56 (594.58) (9.36) 24.62 15.00 2.58 2.55 6,515,180.54 427.22

24 LQ 45 Index 1,132.92 871.91 (175.25) (16.24) 21.16 15.56 3.39 3.34 4,119,039.49 270.10

25 KSE100 Index 47,144.12 37,736.73 (2,573.19) (6.36) 8.99 7.84 1.46 1.36 6,784.26 54.90

26 N KY Index 24,448.07 20,347.49 1,018.78 4.48 19.40 16.73 1.90 1.96 403,853.98 3,575.51

27 N EY Index 376.09 323.31 0.28 0.08 16.05 12.83 1.38 1.34 453,914.40 4,018.72

28 T P X Index 1,911.31 1,645.16 (24.91) (1.37) 16.34 13.91 1.41 1.46 673,137.15 5,959.60

29 F B M KLC I Index 1,896.03 1,657.78 (21.06) (1.17) 16.68 17.08 1.67 1.63 1,106.06 265.76

30 N Z SE Index 1,652.90 1,433.28 89.91 5.95 19.27 21.27 2.03 1.99 131.30 84.61

31 P C O M P Index 9,078.37 6,923.67 (1,507.60) (17.62) 22.98 16.40 2.51 2.39 8,878.84 163.99

32 F SST I Index 3,641.65 3,102.73 (221.47) (6.51) 11.07 12.90 1.22 1.25 550.27 397.27

33 KO SP I Index 2,607.10 2,218.09 (213.66) (8.66) 12.69 9.07 1.05 1.04 1,457,989.89 1,281.64

34 T WSE Index 11,270.18 10,189.04 (186.93) (1.76) 15.55 13.46 1.75 1.70 31,012.90 998.77

35 SET Index 1,852.51 1,584.68 (57.49) (3.28) 18.90 15.71 2.08 2.11 17,106.46 518.68

36 SET 50 Index 1,223.67 1,043.32 (20.12) (1.77) 17.52 15.41 2.26 2.29 11,719.50 355.34

37 VN IN D EX Index 1,211.34 806.30 11.88 1.21 19.00 17.44 2.81 2.92 3,196,911.62 136.91

2 0 17 2 0 18 E D o m a i n

C u r r e n c y U S D L O W P O I N T % 2 0 17 2 0 18 E

A s i a / P a c i f i c A m e r i c a

5 2 - W E E K C H A N G E Y T D P E R ( x) P B V ( x) M A R K E T C A P ( B n )

E u r o p e

(5)

LQ4 5

Source: Bloomberg, Sinarmas Investment Research L Q 4 5 I n d e x

H I G H L O W P O I N T % 2 0 1 7 2 0 1 8 E 2 0 1 7 2 0 1 8 E

1 A D H I I J 1 , 3 1 0 2 , 5 1 0 1 , 3 1 0 (5 7 5 ) (3 0 . 5 0 ) 1 3 . 0 2 5 . 8 6 1 . 1 5 0 . 7 1 4 , 6 6 4 . 7 1

2 A D R O I J 1 , 7 5 0 2 , 6 5 0 1 , 5 7 5 (1 1 0 ) (5 . 9 1 ) 9 . 0 6 7 . 6 5 1 . 2 6 0 . 9 9 5 5 , 9 7 5 . 4 3

3 A K R A I J 3 , 8 0 0 8 , 0 2 5 3 , 2 2 0 (2 , 5 5 0 ) (4 0 . 1 6 ) 2 8 . 1 1 1 4 . 1 5 3 . 3 7 1 . 8 1 1 5 , 2 5 5 . 8 4

4 A N T M I J 8 1 0 1 , 0 1 5 6 0 0 1 8 5 2 9 . 6 0 - 2 6 . 2 3 0 . 8 1 1 . 0 4 1 9 , 4 6 4 . 9 2

5 A S I I I J 6 , 8 5 0 8 , 7 5 0 6 , 1 0 0 (1 , 4 5 0 ) (1 7 . 4 7 ) 1 7 . 8 3 1 3 . 1 1 2 . 7 2 2 . 0 5 2 7 7 , 3 1 2 . 3 4

6 B B C A I J 2 3 , 4 5 0 2 5 , 4 7 5 2 0 , 0 5 0 1 , 5 5 0 7 . 0 8 2 3 . 1 7 2 2 . 4 2 4 . 1 1 3 . 8 6 5 7 8 , 1 5 9 . 9 7

7 B B N I I J 6 , 8 2 5 1 0 , 1 7 5 6 , 7 5 0 (3 , 0 7 5 ) (3 1 . 0 6 ) 1 3 . 5 6 8 . 2 9 1 . 8 7 1 . 1 8 1 2 7 , 2 7 7 . 0 8

8 B B R I I J 2 , 9 7 0 3 , 9 2 0 2 , 7 2 0 (6 7 0 ) (1 8 . 4 1 ) 1 5 . 3 4 1 1 . 2 7 2 . 6 7 1 . 9 7 3 6 6 , 3 3 7 . 0 6

9 B B T N I J 2 , 4 1 0 3 , 8 9 0 2 , 1 1 0 (1 , 1 6 0 ) (3 2 . 4 9 ) 1 2 . 4 9 7 . 5 2 1 . 7 5 1 . 0 3 2 5 , 5 2 1 . 9 0

1 0 B J B R I J 1 , 9 6 0 2 , 7 3 0 1 , 7 9 5 (4 4 0 ) (1 8 . 3 3 ) 1 9 . 2 0 1 2 . 5 5 2 . 3 1 1 . 8 2 1 9 , 0 0 4 . 7 3

1 1 B M R I I J 6 , 2 0 0 9 , 0 5 0 6 , 1 7 5 (1 , 8 0 0 ) (2 2 . 5 0 ) 2 0 . 9 3 1 1 . 3 8 2 . 2 4 1 . 6 0 2 8 9 , 3 3 3 . 3 3

1 2 B M T R I J 3 7 2 7 5 5 3 7 0 (2 1 8 ) (3 6 . 9 5 ) - - 0 . 8 8 - 5 , 2 8 1 . 8 9

1 3 B R P T I J 1 , 6 2 5 2 , 7 2 0 1 , 5 1 0 (6 3 5 ) (2 8 . 1 0 ) 3 0 . 0 0 1 7 . 7 6 2 . 1 6 1 . 0 6 2 8 , 9 1 1 . 3 3

1 4 B S D E I J 1 , 0 0 5 1 , 9 6 5 9 9 5 (6 9 5 ) (4 0 . 8 8 ) 6 . 6 1 7 . 3 0 1 . 2 9 0 . 6 9 1 9 , 3 4 2 . 9 3

1 5 B U M I I J 1 9 8 3 5 6 1 8 8 (7 2 ) (2 6 . 6 7 ) 2 . 5 7 2 . 1 6 - - 1 2 , 9 6 4 . 1 3

1 6 E X C L I J 2 , 9 3 0 1 , 7 1 0 (3 0 ) (1 . 0 1 ) 8 5 . 1 6 7 9 . 7 3 1 . 4 6 1 . 4 2 3 1 , 3 1 5 . 7 2

1 7 G G R M I J 7 4 , 8 0 0 8 6 , 4 0 0 6 1 , 9 2 5 (9 , 0 0 0 ) (1 0 . 7 4 ) 2 0 . 8 0 1 7 . 0 6 3 . 8 2 3 . 1 2 1 4 3 , 9 2 1 . 7 8

1 8 H M S P I J 3 , 8 4 0 5 , 5 5 0 3 , 2 3 0 (8 9 0 ) (1 8 . 8 2 ) 4 3 . 5 4 3 3 . 9 3 1 6 . 1 3 1 2 . 6 9 4 4 6 , 6 6 1 . 4 2

1 9 I C B P I J 8 , 8 2 5 9 , 2 7 5 7 , 9 0 0 (7 5 ) (0 . 8 4 ) 2 7 . 3 1 2 4 . 4 9 5 . 3 1 4 . 7 4 1 0 2 , 9 1 6 . 3 4

2 0 I N C O I J 3 , 4 5 0 4 , 7 2 0 2 , 5 7 0 5 6 0 1 9 . 3 8 - 2 8 . 2 8 1 . 1 6 1 . 1 8 3 4 , 2 8 0 . 3 7

2 1 I N D F I J 5 , 5 7 5 8 , 5 0 0 5 , 5 5 0 (2 , 0 5 0 ) (2 6 . 8 9 ) 1 6 . 1 8 1 1 . 1 2 2 . 1 5 1 . 4 4 4 8 , 9 5 0 . 8 8

2 2 I N D Y I J 2 , 7 0 0 4 , 6 3 0 1 , 9 0 0 (3 6 0 ) (1 1 . 7 6 ) 3 . 5 0 4 . 6 6 1 . 2 7 0 . 9 3 1 4 , 0 6 7 . 5 2

2 3 I N T P I J 1 6 , 2 5 0 2 3 , 9 5 0 1 2 , 5 0 0 (5 , 7 0 0 ) (2 5 . 9 7 ) 4 3 . 4 5 4 5 . 9 0 3 . 2 9 2 . 6 6 5 9 , 8 2 0 . 0 2

2 4 J S M R I J 4 , 2 7 0 6 , 7 7 5 3 , 9 2 0 (2 , 1 3 0 ) (3 3 . 2 8 ) 2 1 . 1 1 1 5 . 7 2 3 . 0 8 1 . 8 5 3 0 , 9 9 1 . 1 1

2 5 K L B F I J 1 , 2 9 0 1 , 7 8 5 1 , 1 5 5 (4 0 0 ) (2 3 . 6 7 ) 3 2 . 9 6 2 4 . 4 3 5 . 9 6 4 . 1 5 6 0 , 4 6 8 . 9 1

2 6 L P K R I J 3 1 0 7 4 5 3 0 8 (1 7 8 ) (3 6 . 4 8 ) 1 8 . 0 9 9 . 0 2 0 . 4 9 0 . 3 3 7 , 1 5 7 . 0 3

2 7 L P P F I J 6 , 7 0 0 1 1 , 9 7 5 5 , 5 2 5 (3 , 3 0 0 ) (3 3 . 0 0 ) 1 5 . 2 9 9 . 8 4 1 2 . 5 3 5 . 3 1 1 9 , 5 5 0 . 0 5

2 8 M N C N I J 7 8 5 1 , 6 9 0 7 6 0 (5 0 0 ) (3 8 . 9 1 ) 1 1 . 7 8 7 . 3 0 1 . 8 6 1 . 0 9 1 1 , 2 0 6 . 7 4

2 9 M Y R X I J 1 2 5 1 9 8 1 0 1 1 5 1 3 . 6 4 - - - - 1 0 , 8 3 7 . 9 0

3 0 P G A S I J 2 , 2 2 0 2 , 8 6 0 1 , 3 6 5 4 7 0 2 6 . 8 6 2 0 . 7 7 1 4 . 5 6 0 . 9 9 1 . 1 2 5 3 , 8 1 6 . 1 5

3 1 P T B A I J 4 , 6 9 0 4 , 9 4 0 2 , 0 9 0 2 , 2 3 0 9 0 . 6 5 5 . 7 9 1 0 . 1 6 1 . 9 1 3 . 1 7 5 4 , 0 3 1 . 8 9

3 2 P T P P I J 1 , 5 4 5 3 , 2 8 0 1 , 4 6 5 (1 , 0 9 5 ) (4 1 . 4 8 ) 1 1 . 2 6 5 . 5 5 1 . 4 3 0 . 7 4 9 , 5 7 8 . 8 4

3 3 P W O N I J 4 7 2 7 2 5 4 7 0 (2 1 3 ) (3 1 . 0 9 ) 1 7 . 6 2 1 0 . 4 1 3 . 2 0 1 . 8 7 2 2 , 7 3 1 . 3 3

3 4 S C M A I J 1 , 7 0 0 2 , 9 8 0 1 , 6 4 5 (7 8 0 ) (3 1 . 4 5 ) 2 7 . 2 4 1 5 . 1 1 9 . 3 0 4 . 8 7 2 4 , 8 5 6 . 7 2

3 5 S M G R I J 9 , 3 0 0 1 1 , 7 7 5 6 , 5 0 0 (6 0 0 ) (6 . 0 6 ) 2 9 . 1 4 2 7 . 6 4 2 . 0 3 1 . 8 3 5 5 , 1 6 3 . 1 4

3 6 S R I L I J 3 4 2 4 1 4 3 0 2 (3 8 ) (1 0 . 0 0 ) 7 . 2 6 - 1 . 1 8 - 6 , 9 9 4 . 6 4

3 7 S S M S I J 1 , 2 6 5 1 , 5 4 5 1 , 0 0 5 (2 3 5 ) (1 5 . 6 7 ) 1 7 . 9 2 1 4 . 1 3 3 . 5 4 2 . 6 5 1 2 , 0 4 9 . 1 3

3 8 T L K M I J 3 , 5 2 0 4 , 6 1 7 3 , 2 5 0 (8 7 9 ) (1 9 . 9 8 ) 1 9 . 6 8 1 6 . 5 1 4 . 7 0 3 . 4 6 3 4 8 , 6 9 9 . 0 0

3 9 T P I A I J 4 , 5 6 0 6 , 6 7 5 4 , 4 2 0 (1 , 4 4 0 ) (2 4 . 0 0 ) 2 3 . 8 1 2 7 . 1 8 4 . 7 4 3 . 0 3 8 1 , 3 2 0 . 8 5

4 0 T R A M I J 2 3 6 4 3 2 1 2 4 3 8 1 9 . 1 9 - - - - 1 1 , 7 1 3 . 5 5

4 1 U N T R I J 3 2 , 0 7 5 4 0 , 5 0 0 3 0 , 7 7 5 (3 , 3 2 5 ) (9 . 3 9 ) 1 7 . 8 4 1 1 . 6 6 2 . 9 1 2 . 3 0 1 1 9 , 6 4 4 . 0 8

4 2 U N V R I J 4 4 , 2 0 0 5 8 , 1 0 0 4 0 , 4 0 0 (1 1 , 7 0 0 ) (2 0 . 9 3 ) 6 0 . 8 9 4 4 . 0 6 8 2 . 4 4 5 5 . 6 7 3 3 7 , 2 4 6 . 0 0

4 3 W I K A I J 1 , 3 0 0 2 , 1 9 0 1 , 2 1 0 (2 5 0 ) (1 6 . 1 3 ) 1 1 . 5 5 7 . 8 5 1 . 1 0 0 . 8 2 1 1 , 6 6 0 . 9 4

4 4 W S B P I J 3 5 0 5 1 0 3 3 6 (5 8 ) (1 4 . 2 2 ) 1 0 . 5 6 7 . 5 9 1 . 4 7 1 . 0 1 9 , 2 2 6 . 4 1

4 5 _{W S K T I J} 1 , 6 4 0 3 , 1 5 0 1 , 6 3 0 (5 7 0 ) (2 5 . 7 9 ) 7 . 3 8 5 . 0 4 2 . 1 4 1 . 2 5 2 2 , 2 6 1 . 2 0

(6)

M a cr o da t a

Source: Bloomberg, Sinarmas Investment Research

D e s c ript io n 1- D a y ( %) 5 - D a ys ( %) 1- M o nt h ( %) Y T D ( %)

P ro perty 0.00 (4.59) (4.79) (18.06)

B asic Industry 0.56 (6.11) (5.07) 8.99

Trade (0.32) (1.93) (2.33) (13.08)

Finance 0.49 (3.50) (2.70) (9.08)

M iscellaneo us Industry (1.15) (5.30) (2.51) (13.98)

Co nsumer 2.13 (1.52) (0.26) (15.03)

Infrastructure 0.15 (2.86) 1.66 (14.16)

A griculture (0.17) (1.56) (2.90) (4.39)

M ining (0.63) (1.35) 4.95 23.02

S e p- 18 A ug- 18

1.94 3.61

2.88 3.20

-0.18 -0.05

114.85 117.93

F O R E X S po t R a t e 1- D a y ( %) 1- M o nt h ( %) Y T D ( %)

USD/IDR 15,223.00 - (2.40) (10.96)

USD/CNY 6.93 (0.89) (1.09) (6.12)

USD/EUR 0.87 0.01 0.90 4.48

USD/JP Y 112.98 0.22 (1.64) (0.26)

USD/SGD 1.38 (0.04) (0.38) (3.48)

USD/A UD 1.41 (0.03) 0.48 10.26

USD/GB P 0.76 0.04 (0.48) 3.22

( in %)

7.58

1.09

1.46

8.35

8.53

8.69 Indo nesia 5-Year Go vernment B o nds Yield

Indo nesia 10-Year Go vernment B o nds Yield

Indo nesia 15-Year Go vernment B o nds Yield

Le nding a nd D e po s it R a t e s

JIB OR (in IDR)

LIB OR (in GB P )

SIB OR ( in USD) Inflatio n M o M (in %)

Fo reign Reserves (in USD bn)

S e c t o rs

E c o no m ic Indic a t o rs

Inflatio n YTD (in %)

E c o no m ic P a ra m e t e rs

(7)

Upcom in g I PO

D ivide n d

Righ t s I ssu e

2 0 1 6 2 0 1 7 2 0 1 8

LKPP A PBN P RA PBN

GDP Gr owth ( % , YoY) 5,0% 5,2% 5,4%

Ex change r ate ( USD/ I DR) 13307 13300 13500

I nflation ( % , YoY) 3% 4,3% 3,5%

3 Months SPN ( % ) 5,7% 5,2% 5,3%

I ndonesian Cr ude Oil ( USD/ bar r el) 40 45 48

Oil Lifting ( thousands bar r el/ day ) 829 815 800

Gas Lifting ( thousands, BOE/ day ) 1.18 1.15 1.2

Total State Budget ( in I DR tr illion) ₁₅₅₆ ₁₇₁₄ ₁₈₇₈

I N D I CA T OR

St o ck D PS ( Rp ) St a t u s Cu m D a t e Ex D a t e Re co r d in g Pa y m e n t

AALI 112 _{04/ 10/ 2018} _{05/ 10/ 2018} _{09/ 10/ 2018} _{19/ 10/ 2018}

ASI I 60 _{04/ 10/ 2018} _{05/ 10/ 2018} _{09/ 10/ 2018} _{31/ 10/ 2018}

BSSR 151 _{02/ 10/ 2018} _{03/ 10/ 2018} _{05/ 10/ 2018} _{19/ 10/ 2018}

D VLA 37 _{02/ 10/ 2018} _{03/ 10/ 2018} _{05/ 10/ 2018} _{26/ 10/ 2018}

TPI A USD 0.00162 _{28/ 09/ 2018} _{01/ 10/ 2018} _{03/ 10/ 2018} _{24/ 10/ 2018}

HEXA USD 0.02148 _{25/ 09/ 2018} _{26/ 09/ 2018} _{28/ 09/ 2018} _{19/ 10/ 2018}

I KBI 5 _{18/ 09/ 2018} _{19/ 09/ 2018} _{21/ 09/ 2018} _{10/ 10/ 2018}

XI SB 1.98 _{13/ 09/ 2018} _{14/ 09/ 2018} _{18/ 09/ 2018} _{20/ 09/ 2018}

JPFA 50 05/ 09/ 2018 06/ 09/ 2018 10/ 09/ 2018 _{24/ 09/ 2018}

T ick e r Pr ice ( Rp ) Cu m Da t e EX Da t e T r a d in g

RBMS 99 : 100 200 05/ 10/ 2018 08/ 10/ 2018 12/ 10/ 2018 - 18/ 10/ 2018

MAYA 1 : 6 2,200 03/ 10/ 2018 04/ 10/ 2018 10/ 10/ 2018 - 16/ 10/ 2018

AGRO 271 : 1000 400 06/ 09/ 2018 07/ 09/ 2018 14/ 09/ 2018 - 20/ 09/ 2018

Ra t io

St a t e Bu dge t

Co m p a n y Bu sin e ss

I PO Pr ice

( Rp )

I ssu e d Sh a r e s ( Mn )

Of f e r in g Da t e ( 2 0 1 7 ) List in g Un d e r w r it e r

Madusar i Mur ni I ndah 495.9 23/ 08/ 2018 - 27/ 08/ 2018 30- Aug- 18

Tr im itr a Pr oper tindo Tbk 773.3 10/ 07/ 2018 - 14/ 08/ 2018 23- Aug- 18

MD Pictur es Tbk 1981.0 25/ 07/ 2018 - 31/ 07/ 2018 07- Aug- 18

Mahk ota Gr oup Tbk 703.7 03/ 07/ 2018 - 09/ 07/ 2018 12- Jul- 18

(8)

Pick s of Th e D a y

I TM G : TRAD I N G BUY

I TM Gber hasil br eak Resist ance 26.175, I TM Gber peluang m elanj ut kan penguat an dengan m enguj i Resist ance 26.350, 26.650 dan 27.200. Nam un, j ikaI TM Ggagal br eak Resist ance 26.650, m akaI TM Gakan m encoba Suppor t 26.250, 25.725 dan 25.300. I TM G

dilihat dar i indikat or Macd dan St oc osc m engindikasikan pola Rever sal.

Ent r y point : 26.175 — 26.250

Exit point : 26.650 ( 1.8% ) , 27.200 ( 3.9% )

St op Loss : 25.725 ( - 1.7% )

GGRM : TRAD I N G BUY

GGRM ber hasil break Resist ance Trendline 74.500, GGRMberpeluang m elanj ut kan penguat an dengan m enguj i Resist ance Tr endline 75.250, 75.750 dan 77.000. Nam un, j ika GGRMgagal br eak Resist ance 75.250, m akaGGRM akan m encoba Suppor t 74.500, 73.500 dan 72.500. GGRM dilihat I ndikat or MACD dan Stoc osc m engindikasikan pola Reversal.

Ent r y point : 74.800 — 74.900

Exit point : 75.750 ( 1.3% ) , 77.000 ( 2.9% )

St op Loss : 73.500 ( - 1.7% )

Nov Dec 2018 Feb Mar Apr May Jun Jul Aug Sep Oct

20,000

ITMG - Daily 10/8/2018 4:08:00 PM Open 25675, Hi 26300, Lo 25675, Clos e 26250 (2.2%)MA(Clos e,50)= 26,925.50

26,250 26,925.5

-1,000 0 1,000 2,000 ITMG -MACD(12,26)= -192.91,Signal(12,26,9)= -227.94

-192.913 -227.938

20 80 ITMG -Stoch %K(15,3)= 25.96,Stoch %D(15,3,3)= 22.53

25.9619 22.5268 ITMG -RSI(15)= 50.76

Nov Dec 2018 Feb Mar Apr May Jun Jul Aug Sep Oct 62,000

64,000

GGRM - Daily 10/8/2018 4:06:00 PM Open 71600, Hi 74825, Lo 71600, Clos e 74800 (4.2%)MA(Clos e,50)= 73,794.00

74,800 73,794

-2,000 0 2,000 GGRM -MACD(12,26)= -14.14,Signal(12,26,9)= 77.56

-14.1388 77.5606

20 80 GGRM -Stoch %K(15,3)= 32.70,Stoch %D(15,3,3)= 25.78

32.7044 25.7846

(9)

Pick s of Th e D a y

I CBP : BUY ON W EAKN ESS

I CBP belum ber hasil br eak Resist ance 8.900. I CBPber peluang m enguj i Suppor t 8.775, 8.700 dan 8.600. Nam un, j ikaI CBP

ber hasil br eak Resist ance 8.900, m aka I CBP akan m encoba Resist ance 9.000, 9.075 dan 9.150.I CBPdilihat I ndikat or MACD dan St oc osc m engindikasikan pola Rever sal.

Ent r y point : 8.775 — 8.825

Exit point : 9000 ( 2.6% ) , 9.150 ( 4.3% )

St op Loss : 8.700 ( - 0.9% )

JPFA : BUY ON W EAKN ESS

JPFAbelum ber hasil break Resist ance 2.020.JPFAber peluang m enguj i Suppor t 1.960, 1.900 dan 1.850. Nam un, j ikaJPFA

ber hasil br eak Resist ance 2.020, m akaJPFAakan m encoba Resist ance 2.050, 2.090 dan 2.150.JPFAdilihat I ndikat or MACD dan St oc osc m engindikasikan pola Oversold.

Ent r y point : 1.960 — 1.980

Exit point : 2.050 ( 4.6% ) , 2.090 ( 6.6% )

St op Loss : 1.900 ( - 3.1% )

7,900

ICBP - Daily 10/8/2018 4:13:00 PM Open 8800, Hi 8850, Lo 8775, Clos e 8825 (0.3%)MA(Clos e,50)= 8,773.50

8,825 8,773.5

-100 0 100 ICBP -MACD(12,26)= 18.82,Signal(12,26,9)= 21.25

18.8211 21.2548

20 80 ICBP -Stoch %K(15,3)= 57.78,Stoch %D(15,3,3)= 62.22

57.7778 62.2222

ICBP -RSI(15)= 51.04

1,200 JPFA - Daily 10/8/2018 4:11:00 PM Open 1970, Hi 2010, Lo 1960, Clos e 1980 (0.5%)MA(Clos e,50)= 2,131.70

1,980 2,131.7

0 50 100 150 JPFA -MACD(12,26)= -37.93,Signal(12,26,9)= -21.53

(10)

PT Sinarmas Sekuritas

Sinarmas Land Plaza Tower 3, 6th Fl. Jl. M. H. Thamrin no. 51

Tel: +62 21 392 5550 Fax: +62 21 392 5540

research@sinarmassekuritas.co.id www.sinarmassekuritas.co.id

Equity Research Team

HEAD OF RESEARCH

Evan Lie Hadiwidjaja Banking, Automotive

Tel: +62 21 3925550 Ext: 615

evan.hadiwidjaja@sinarmassekuritas.co.id

DEPUTY HEAD OF RESEARCH

Wilbert

Consumer Goods, Plantation, Pulp and Paper Tel: +62 21 3925550 Ext: 611

wilbert@sinarmassekuritas.co.id

EQUITY ANALYST

Richard Suherman Commodities

Tel: +62 21 3925550 Ext: 610

richard.suherman@sinarmassekuritas.co.id

EQUITY ANALYST

Richardson Raymond Property, Industrial Estate

Tel: +62 21 3925550 Ext: 159

richardson.raymond@sinarmassekuritas.co.id

EQUITY ANALYST

Paulina Retail, Cement

Tel: +62 21 3925550 Ext: 610 paulina@sinarmassekuritas.co.id

RESEARCH ASSOCIATE

Anthony Angkawijaya

Construction, Petrochemical, Healthcare Tel: +62 21 3925550 Ext: 611

anthony.angkawijaya@sinarmassekuritas.co.id

RESEARCH ASSOCIATE

Kenji Fanata

Telecommunication, Tobacco, Poultry, Media Tel: +62 21 3925550 Ext: 611

kenji.fanata@sinarmassekuritas.co.id

TECHNICAL ANALYST

Eddy Wijaya

Tel: +62 21 3925550 Ext: 159 eddy.wijaya@sinarmassekuritas.co.id

DISCLAIMER

This material is issued by PT Sinarmas Sekuritas, a member of Indonesia Stock Exchanges, represent the opinion of PT Sinarmas Sekuritas, derived its

judg-ment from sources deemed reliable, however, PT Sinarmas Sekuritas and its affiliated cannot guarantee its accuracy and completeness. PT Sinarmas

Sekuri-tas or its affiliates may be involved in transactions contrary to any opinion herein or have positions in the securities recommended herein and may seek or

will seek investment banking or other business relationships with the companies in this material. PT Sinarmas Sekuritas, its employees and its affiliates,

expressly disclaim any and all liability for representation or warranties, expressed or implied, here in or omission there from or for any loss how so ever

arising from any use of this material or its contents or otherwise arising in connection there with. Opinion expressed in this material are our present view