Riset Saham Harian
Samuel Research 21 April 2017
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Sentimen positif dari earnings 1Q17 yang lebih
baik dibanding tahun lalu
Indeks AS semalam ditutup menguat dengan Nasdaq mencatat rekor tertingginya. American Express menjadi pendorong kenaikan bursa US setelah melaporkan penurunan laba kuartalan yang lebih kecil dari perkiraan. Saat ini, dari 82 perusahaan yang telah melaporkan laba bersih 1Q17, sekitar 75% telah melampaui estimasi dan secara keseluruhan laba perusahaan – perusahaan di S & P 500 diperkirakan meningkat 11,1% yoy, terbaik sejak 2011. Katalis penguat lainnya, Treasury Secretary, Steven Mnuchin, menyatakan Gedung Putih akan mengumumkan kebijakan reformasi pajak dalam waktu dekat. Dari pasar komoditas, harga minyak menguat ke level US$ 53,1/barrel setelah OPEC memberi isyarat akan memperpanjang pemangkasan produksi minyak mentah mereka melampaui Juni. Harga emas tercatat flat di US$ 1.281/toz.
Dari pasar dalam negeri, Bank Indonesia memutuskan untuk menahan 7 Day Repo Rate di posisi 4,75% serta memperkirakan pertumbuhan ekonomi 1Q17 dibawah perkiraan. Beberapa perusahaan big cap telah
mengumumkan results 1Q17 dengan BBRI, BBCA, UNTR, ASII dan TLKM mencetak kinerja yang lebih baik dibanding tahun lalu dan ini kami perkirakan menjadi pendorong bursa hari ini. Nilai tukar rupiah tercatat flat di Rp13.323, sementara EIDO tercatat menguat.
Highlights
TLKM: 1Q17 laba bersih inline dengan estimasi kami, naik 46% yoy
PTBA: target penjualan 2017 mencapai 27.29 juta ton
INCO: Produksi di 1Q17 menurun 2%yoy dan 14% qoq
ISSP: Beban bunga akan turun
Properti: Apartemen kembali diminati
BBCA: Laba bersih 1Q17 agak lemah, namun berpotensi membaik
AKRA: Membagikan dividen sebesar Rp 50/saham
SMGR: Penjualan Maret naik 12% yoy, 1Q17 naik 7% yoy : 5,595.3 : -11.2 (-0.20%) : 4,050 Mn shrs : 5,327 Bn rupiah Last Close +/- % BBCA 17,325 400 2.4 ASII 8,575 200 2.4 TLKM 4,110 40 1.0 CPIN 3,290 90 2.8 HMSP 3,900 -50 -1.3 BMRI 11,525 -225 -1.9 BBRI 12,750 -125 -1.0 GGRM 63,575 -1325 -2.0
Foreign Net Buy / Sell
Net Buy (Rpbn) Net Sell (Rpbn)
BBCA 192 BBNI 136 TLKM 177 JSMR 29 BBRI 167 PTPP 27 PGAS 51 GGRM 25 BSDE 27 ASII 19 Money Market Last Close +/- % USD/IDR 13,323 26.0 -0.2 JIBOR O/N 4.4 0.0 -Infl (MoM) 0.0 -
-Dual Listing Securities
Last Close +/- % TLKM 30.8 0.5 1.7 ISAT 40.0 1.0 2.5 EIDO 25.9 0.3 1.1 World Indices Last Close +/- % DJIA 20,579 174 0.9 S&P 500 2,356 18 0.8 Euro Stoxx 3,440 19 0.6 MSCI World 1,847 12 0.6 Nikkei 18,581 150 0.8 Hang Seng 24,057 231 1.0 Commodities Last Close +/- % Brent Oil 53 0.1 0.2 CPO Malay 2,504 39.0 1.6 Coal Newc 81 0.1 0.1 Nickel 9,440 144.0 1.5 Tin 19,894 94.0 0.5 Changes Changes Changes Changes Lagging Movers Market Value Changes Leading Movers Market Activity Friday, 21 Apr 2017 Market Index Index Movement Market Volume
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TLKM: 1Q17 laba bersih inline dengan estimasi kami, naik 46% yoy
PT Telekomunikasi Indonesia Tbk (TLKM) mencetak laba bersih 1Q17 meningkat 46% yoy ke Rp 6,7 triliun. Tumbuhnya pendapatan sebesar 13% yoy dengan lebih lambatnya peningkatan beban operasional, +3% yoy, menjadi katalis lonjakan laba bersih TLKM. Laba bersih 1Q17 tercatat inline dengan estimasi kami (28%), namun diatas ekspektasi konsensus (30%). (Perseroan) TLKM: BUY 17E’PE: 17.1x, PBV: 4.1x.
PTBA: target penjualan 2017 mencapai 27.29 juta ton
PT Tambang Batubara Bukit Asam Tbk (PTBA) menargetkan penjualan batubara tahun ini mencapai 27,29 juta ton naik 31% yoy. PTBA mulai melakukan penetrasi ke pasar ekspor, seperti Vietnam, Kamboja, Filipina, India dan China.
Dalam rapat umum pemegang saham tahunan (RUPST) kemarin, PTBA memutuskan membagi dividen 2016 sebesar Rp 601,86 miliar atau setara Rp 285,50 per saham. Jumlah dividen 30% dari total laba bersih kinerja 2016. (Kontan) PTBA: Buy 17E’PE: 13.0x, PBV:
2.6x.
INCO: Produksi di 1Q17 menurun 2%yoy dan 14% qoq
PT Vale Indonesia Tbk (INCO) di 1Q17 produksi lebih rendah 2% yoy dan 1% qoq menjadi 16.894 mt. manajemen tetap optimis dapat mencapai target produksi di 2017 mencapai 80.000 mt. kami melihat kinerja di 1Q17 lebih baik secara yoy namun relatif flat di qoq. (Press Release Company) INCO: BUY 17E’PE: 23.7x, PBV: 0.9x.
q-q y-y 2016/ 2016/ 1Q15 4Q16 1Q17 (%) (%) 2016F Cons. Sales 27,542 30,145 31,022 2.9 12.6 23.6 24.0 Operating expense (17,970) (21,169) (18,531) (12.5) 3.1 Operating profit 9,572 8,976 12,491 39.2 30.5 EBITDA 13,977 14,151 17,264 22.0 23.5 26.2 26.1
Net interest income/(expense) (271) (390) (184) (52.8) (32.1)
Forex gain/(loss) 0 (52) 0 na na Other income/(expense) 15 38 17 (55.3) 13.3 Pretax profit 9,316 8,572 12,324 43.8 32.3 27.1 27.6 Taxation (2,423) (1,569) (2,948) 87.9 21.7 Minority interest (2,306) (2,383) (2,688) 12.8 16.6 Net profit 4,587 4,620 6,688 44.8 45.8 27.6 29.7
Sales data & ratio analysis 1Q15 4Q15 4Q15
EBITDA margin 50.7 46.9 55.7 Operating margin (%) 34.8 29.8 40.3 Pretax margin (%) 33.8 28.4 39.7 Net margin (%) 16.7 15.3 21.6 Inventory days 3 2 3 Receivable days 30 22 27 Payable Days 64 55 65
Total cash (IDRb) 35,737 29,767 33,699
Total debt (IDRb) 34,964 31,799 31,783
Net gearing (%) nc 1.9 nc
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ISSP: Beban bunga akan turun
Beban bunga PT Steel Pipe Industry of Indonesia Tbk. (ISSP) berpotensi terpangkas sebesar 300 bps dari sekitar 10% menjadi sekitar 6% - 7%. Menurut keterangan dari pihak manajemen, ISSP memilih opsi untuk menerbitkan surat hutang valuta asing untuk membayar hutang jangka pendek.
Dari Rapat Umum Pemegang Saham Luar Biasa (RUPSLB) yang digelar pada hari Kamis (20/4), perseroan telah mendapatkan restu dari pemegang saham untuk menerbitkan obligasi valas senilai US$250 juta pada kuartal II/2017 dengan jaminan perusahaan. (Bisnis Indonesia). ISSP: Non - coverage.
Properti: Apartemen kembali diminati
Sejumlah pelaku industri memastikan tren penjualan apartemen di Jakarta akan semakin positif didorong oleh masifnya peluncuran dan realisasi para developer.
Tahun ini setidaknya aka nada 35.000unit pasokan apartemen yang akan masuk ke pasar. Angka tersebut diperkirakan akan meningkat hingga 79.000 di tahun 2020 dengan tingkat serapan sebesar 70%. (Bisnis Indonesia). Properti: Neutral.
BBCA: Laba bersih 1Q17 agak lemah, namun berpotensi membaik
Kredit tumbuh 9,4% yoy (-1,8% ytd) pada 1Q17 dan NIM turun (1Q17: 6,3%, FY16: 6,8%, 1Q16: 7,0%), sehingga pendapatan bunga bersih hanya naik 3,1%.
NPL gross naik (1Q17: 1,5%, FY16: 1,3%, 1Q16: 1,1%), namun biaya provisi NPL turun 74,9%yoy, sehingga laba operasi naik 10,8%. Laba bersihnya meningkat 10,7% menjadi Rp 4,99 triliun. (Company)
Comment:
Kami melihat kinerja BBCA agak lemah di 1Q17 lalu seiring penurunan NIM akibat: 1.) penurunan lending rate, 2.) kontribusi kredit ke total earnings asset yang menurun. Selain itu, penyaluran kredit juga masih lemah.
Kualitas kredit memburuk, antara lain karena adanya kredit ke sebuah korporasi di sektor transportasi yang mengalami masalah. Meski NPL naik secara yoy, biaya provisi diturunkan secara yoy, sehingga coverage ratio turun dari 235% pada 1Q16 menjadi 203% pada 1Q17. BBCA membukukan preprovision profit yang negatif, sementara laba bersihnya masih dapat
tumbuh (inline, 22% dari estimasi kami maupun konsensus) karena penurunan biaya provisi NPL tersebut.
Kami melihat kinerja ke depannya masih berpotensi membaik terutama karena perbaikan di industri yang diperkirakan oleh manajemen terjadi di 2H17. Untuk diketahui, biaya operasi secara historis akan menurun di sisa tahun ini, karena biaya tenaga kerja yang tinggi hanya terjadi di 1Q akibat adanya akrual bonus. BBCA: BUY; 17E’ PE: 18.5x, PBV: 3.3x.
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AKRA: Membagikan dividen sebesar Rp 50/saham
PT AKR Corporindo Tbk (AKRA) memperoleh persetujuan dari Rapat Umum Pemegang Saham (RUPS) untuk membagikan hampir separuh laba 2016 untuk pemegang saham. Sebesar Rp 479 miliar akan dibagikan dikurangi dengan jumlah dividen interim yang telah dibagi sebelumnya sebesar Rp 279 miliar. Dengan demikian, pemegang saham berhak memperoleh dividen sebesar Rp 50/saham, merefleksikan dividen yield sebesar 0,8%. (Kontan) AKRA: BUY; 17E’ PE: 21.9x, PBV: 3.3x.
SMGR: Penjualan Maret naik 12% yoy, 1Q17 naik 7% yoy
PT Semen Indonesia Tbk (SMGR) mencatat penjualan semen di bulan Maret naik 12% yoy didorong oleh peningkatan penjualan domestic sebesar 6% yoy. Peningkatan ini juga berimbas pada penjualan 1Q17 SMGR yang menguat 7% yoy. Namun, harga jual semen di bulan Maret dan 1Q17 turun 10% yoy . (Perseroan) SMGR: HOLD; 17E’ PE: 12.7x, PBV: 1.6x.
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Stock Rec. Mkt Cap Last price 1D Chg YTD Chg TP Cons TP SSI Upside PE PE PBV PBV ROE ROE
(Rp bn) (Rp) (%) (%) (Rp) (Rp) (%) 17E 18E 17E 18E 17E 18E
Banks BMRI HOLD 268,917 11525 (1.9) (0.4) 11612 12400 7.6 12.0 11.6 1.6 1.4 13.1% 12.4% BBCA BUY 427,148 17325 2.4 11.8 17580 17100 -1.3 18.5 17.4 3.3 2.9 17.9% 16.5% BBRI BUY 314,532 12750 (1.0) 9.2 13552 13500 5.9 11.2 9.9 1.9 1.7 16.8% 16.8% BBNI BUY 116,554 6250 (1.6) 13.1 6966 7100 13.6 8.6 7.4 1.2 1.1 13.9% 14.2% BBTN BUY 24,569 2320 1.3 33.3 2492 2570 10.8 7.9 7.3 1.1 1.0 14.4% 13.7% Average 11.6 10.7 1.8 1.6 15.2% 14.7% Consumer (Staples) ICBP BUY 95,336 8175 (0.3) (4.7) 9401 10300 26.0 23.0 20.1 4.8 4.2 20.8% 20.9% INDF BUY 69,804 7950 0.0 0.3 9759 9900 24.5 14.9 13.0 2.1 1.9 14.2% 14.9% KLBF BUY 73,594 1570 1.3 3.6 1706 1700 8.3 29.1 25.7 5.5 4.9 19.0% 19.0% ROTI BUY 8,301 1640 2.2 2.5 1806 2050 25.0 23.8 20.2 4.9 4.1 20.5% 20.2% ULTJ BUY 12,131 4200 (1.2) (8.1) 5350 5300 26.2 15.8 14.3 3.0 2.5 18.9% 17.5% UNVR HOLD 345,639 45300 0.0 16.8 45366 45200 -0.2 48.4 43.2 56.4 49.4 116.6% 114.4% SIDO BUY 8,400 560 0.0 7.7 683 700 25.0 15.6 12.4 2.9 2.8 18.9% 22.4% AISA BUY 6,952 2160 (1.4) 11.1 2532 2440 13.0 13.3 12.6 1.6 1.4 12.2% 11.5% Average 23.0 20.2 10.2 8.9 30.1% 30.1% Cigarette HMSP BUY 453,640 3900 (1.3) 1.8 4152 4390 12.6 35.1 33.9 12.0 0.3 34.3% 1.0% GGRM BUY 122,324 63575 (2.0) (0.5) 76653 77150 21.4 18.0 17.0 2.5 2.3 14.1% 13.4% Average 26.6 25.5 7.3 1.3 24.2% 7.2% Healthcare MIKA BUY 36,377 2500 (0.4) (2.7) 3053 2950 18.0 46.3 42.4 9.1 8.2 19.6% 19.3% SILO HOLD 17,363 13350 (1.8) 22.5 13735 12500 -6.4 164.8 129.6 5.4 5.0 3.3% 3.8% Average 105.6 86.0 7.2 6.6 11.4% 11.6% Poultry CPIN BUY 53,949 3290 2.8 6.5 3481 4500 36.8 13.9 12.9 1.8 1.6 12.8% 12.4% JPFA BUY 17,344 1520 (2.3) 4.5 1924 2200 44.7 8.4 7.6 1.6 1.3 18.7% 17.6% MAIN BUY 2,754 1230 (2.4) (5.4) 1612 2280 85.4 6.6 5.3 1.1 0.9 15.9% 17.2% Average 9.6 8.6 1.5 1.3 15.8% 15.8% Retail MAPI BUY 10,292 6200 0.0 14.8 6987 7700 24.2 41.1 29.7 2.9 2.7 7.2% 9.1% RALS BUY 8,125 1145 (1.3) (4.2) 1473 1750 52.8 17.6 14.0 2.1 1.9 12.0% 13.9% ACES HOLD 15,349 895 (1.6) 7.2 962 825 -7.8 21.8 18.6 4.8 4.1 22.2% 21.8% LPPF BUY 38,662 13250 (0.9) (12.4) 15735 19500 47.2 14.0 13.5 11.4 8.1 81.1% 60.0% Average 23.6 18.9 5.3 4.2 30.6% 26.2% Telco EXCL BUY 32,064 3000 0.0 29.9 3386 3200 6.7 81.1 53.6 1.5 1.5 1.8% 2.7% ISAT BUY 38,988 7175 0.3 11.2 8368 7200 0.3 22.1 13.9 2.6 2.3 11.7% 16.2% TLKM BUY 414,288 4110 1.0 3.3 4660 5000 21.7 17.1 13.3 4.1 3.5 24.0% 26.7% TOWR BUY 39,587 3880 (0.3) 8.4 4595 4500 16.0 11.3 10.6 2.8 2.2 24.5% 20.7% Average 32.9 22.8 2.7 2.4 15.5% 16.6% Auto and HE ASII BUY 347,146 8575 2.4 3.6 9259 9000 5.0 15.5 13.2 2.7 2.2 17.2% 16.4% UNTR BUY 102,206 27400 (1.6) 28.9 28685 27500 0.4 15.1 13.4 2.3 2.0 15.2% 15.3% Average 15.3 13.3 2.5 2.1 16.2% 15.9% Aviation GIAA HOLD 9,630 372 (2.1) 10.1 364 420 12.9 279.4 27.9 0.6 0.5 0.2% 1.7% Property BSDE BUY 34,740 1805 (0.8) 2.8 2335 2350 30.2 17.4 14.6 1.1 0.8 6.2% 5.8% PWON BUY 27,933 580 (1.7) 2.7 698 710 22.4 14.1 11.8 2.7 2.3 19.2% 19.3% ASRI HOLD 6,838 348 (1.1) (1.1) 424 390 12.1 10.2 9.7 0.9 0.8 8.8% 8.7% SMRA BUY 19,260 1335 (2.2) 0.8 1585 1550 16.1 27.5 26.0 2.3 2.1 8.4% 8.2% SSIA BUY 3,529 750 0.0 72.8 786 750 0.0 16.7 13.9 1.1 1.0 6.6% 7.5% CTRA BUY 23,479 1265 0.0 (5.2) 1617 1580 24.9 12.4 10.2 1.4 1.3 11.0% 12.4% DMAS BUY 11,182 232 (1.7) 0.9 323 300 29.3 16.6 13.6 1.3 1.2 8.0% 8.9% KIJA BUY 6,819 330 (0.6) 13.0 400 450 36.4 11.0 9.7 1.1 1.0 10.1% 10.3% Average 15.7 13.7 1.5 1.3 9.8% 10.1%
Riset Saham Harian
21 April 2017 www.samuel.co.id Page 6 of 8 Construction PTPP BUY 20,088 3240 (3.6) (15.0) 4850 4150 28.1 14.4 12.2 1.7 1.5 11.8% 12.6% ADHI HOLD 7,976 2240 (2.2) 7.7 2533 2550 13.8 24.1 20.2 1.4 1.3 6.0% 6.5% WSKT BUY 32,305 2380 (2.5) (6.7) 3331 3250 36.6 14.3 11.3 1.7 1.6 11.7% 14.2% WIKA BUY 20,900 2330 (2.5) (1.3) 3083 3000 28.8 18.8 16.4 1.5 1.4 8.0% 8.3% Average 17.9 15.0 1.6 1.4 9.4% 10.4% Cement INTP SELL 58,900 16000 (3.0) 3.9 16040 13500 -15.6 16.2 15.2 2.1 1.9 12.9% 12.6% SMGR HOLD 51,456 8675 (0.9) (5.4) 9918 9000 3.7 12.7 11.5 1.6 1.5 12.9% FALSE SMCB SELL 6,935 905 0.6 0.6 824 700 -22.7 -37.7 -30.2 0.9 0.9 -2.3% -2.8% SMBR HOLD 33,940 3450 (1.1) 23.7 458 2300 -33.3 90.8 86.3 9.1 8.0 10.0% 9.3% Average 20.5 20.7 3.4 3.1 8.4% 6.4% Precast WSBP BUY 13,312 505 (1.9) (9.0) 703 690 36.6 19.9 12.9 1.6 1.4 8.0% 10.6% WTON BUY 6,624 760 (1.3) (7.9) 1123 1150 51.3 20.0 17.3 2.2 1.8 10.9% 10.6% Average 19.9 15.1 1.9 1.6 9.4% 10.6%Oil and Gas
PGAS HOLD 57,937 2390 (0.4) (11.5) 3030 2600 8.8 13.1 10.7 1.2 1.1 9.4% 10.7% AKRA BUY 25700.9 6425.0 -1.9 7.1 7180.0 7600 18.3 21.9 21.7 3.3 3.0 15.2% 14.0% MEDC BUY 10,497 3150 (3.7) 138.6 3534 4500 42.9 5.1 6.1 0.9 0.8 17.7% 13.4% Average 13.4 12.8 1.8 1.7 14% 13% Utilities JSMR BUY 32,733 4510 (3.4) 4.4 5471 5000 10.9 17.0 22.6 2.4 2.2 13.9% 9.8% Metal ANTM BUY 16,822 700 (1.4) (21.8) 940 1250 78.6 8.1 4.4 0.8 0.8 10.0% 17.8% INCO BUY 21,661 2180 (0.9) (22.7) 2977 3500 60.6 23.7 13.8 0.9 0.9 3.7% 6.2% TINS BUY 7,150 960 0.5 (10.7) 1253 1200 25.0 45.7 28.2 1.3 1.3 2.9% 4.5% Average 25.8 15.5 1.0 1.0 5.5% 9.5% Coal DOID BUY 9115.9 1095.0 -3.1 114.7 1600.0 1600 46.1 7.5 7.8 3.3 2.2 44.0% 28.6% ITMG BUY 22,260 19700 (1.9) 16.7 20742 19000 -3.6 8.5 7.5 1.7 1.5 19.6% 20.5% ADRO BUY 58,854 1840 0.3 8.6 1982 2100 14.1 13.9 12.7 1.2 1.1 8.5% 8.7% PTBA BUY 29,032 12600 0.0 0.8 15073 15000 19.0 13.0 10.5 2.6 2.3 19.9% 21.5% Average 10.7 9.6 2.2 1.8 23.0% 19.8% Plantation AALI BUY 28,485 14800 0.7 (11.8) 18168 19800 33.8 16.2 13.6 1.7 1.6 10.7% 12.1% LSIP BUY 9,450 1385 (0.4) (20.4) 1734 2050 48.0 12.5 9.7 1.1 1.1 9.1% 10.9% SIMP BUY 9,727 615 0.0 24.5 570 600 -2.4 14.0 10.8 0.7 0.6 4.9% 5.8% Average 14.2 11.4 1.2 1.1 8.2% 9.6%
Source: SSI Research, Bloomberg
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Regional Indices 1D Change
Points 1D 3D 1W 1M 3M YTD 1YR High Low
World 11.62 1,847 0.63 0.51 0.78 0.01 3.59 5.45 9.24 1,869 1,567 U.S. (S&P) 17.67 2,356 0.76 0.29 0.47 0.50 3.72 5.23 12.64 2,401 1,992 U.S. (DOW) 174.22 20,579 0.85 (0.28) (0.06) (0.43) 3.79 4.13 14.44 21,169 17,063 Europe 19.04 3,440 0.56 (0.24) (0.86) 0.30 4.26 4.54 9.15 3,508 2,678 Emerging Market 5.53 958 0.58 0.08 (0.21) (1.50) 7.30 11.15 12.27 980 781 FTSE 100 4.18 7,119 0.06 (2.85) (3.35) (3.52) (1.11) (0.34) n/a 7,447 5,789 CAC 40 74.18 5,078 1.48 0.13 (0.47) 1.51 4.68 4.43 10.80 5,143 3,956 Dax 10.87 12,027 0.09 (0.67) (0.92) 0.54 3.42 4.76 15.25 12,376 9,214 Indonesia (11.21) 5,595 (0.20) (0.38) (0.58) 0.94 6.49 5.64 14.12 5,680 4,691 Japan 148.99 18,579 0.81 0.87 1.33 (4.50) (2.92) (2.80) 7.00 19,668 14,864 Australia 46.91 5,868 0.81 0.54 (1.11) 1.62 3.78 3.57 11.30 5,950 5,051 Korea 12.87 2,162 0.60 0.63 1.27 (0.75) 4.67 6.69 6.92 2,182 1,893 Singapore 11.60 3,138 0.37 (0.01) (1.51) (0.66) 4.21 8.93 5.98 3,190 2,703 Malaysia 2.66 1,742 0.15 0.44 0.20 (0.74) 4.61 6.08 1.17 1,760 1,612 Hong Kong 231.10 24,057 0.97 (0.84) (0.13) (2.18) 5.12 9.35 11.26 24,657 19,595 China 1.41 3,172 0.04 (1.55) (3.17) (2.74) 1.57 2.21 7.42 3,301 2,781 Taiwan (7.25) 9,633 (0.08) (0.86) (2.07) (3.41) 3.23 4.10 12.42 9,977 8,000 Thailand (0.91) 1,566 (0.06) (0.61) (1.04) (0.16) 0.21 1.51 10.00 1,601 1,343 Philipines 40.47 7,563 0.54 (0.33) (0.50) 3.28 4.57 10.57 4.21 8,118 6,499
Monetary Indicators 1D Change
Points 1W 1M 3M YTD 1YR High Low
JIBOR Overnight (%) (0.02) 4.36 (0.92) 0.61 0.05 2.99 (10.80) 5.58 4.16 Foreign Reserve (US$bn) n/a 121.81 n/a 1.62 4.68 4.68 13.26 121.81 103.59 Inflation Rate (%) n/a (0.02) n/a (108.70) (104.76) (104.76) (110.53) 0.97 (0.45)
US Fed Rate (%) 0.00 1.00 0.00 0.00 33.33 33.33 100.00 1.00 0.50 Indo Govt Bond Yld (10yr) - % 0.00 7.10 0.85 (0.30) (6.19) (10.90) (4.71) 8.36 6.77
Exchange Rate (per US$) 1D Change
Currency Points 1D 3D 1W 1M 3M YTD 1YR High Low
Indonesia 26.00 13323 (0.20) (0.28) (0.50) (0.07) 1.13 1.13 (1.37) 13,698 12,920 Japan 0.05 109.37 (0.05) (0.86) (0.67) 2.14 6.94 6.94 0.08 118.66 99.02
UK (0.00) 1.28 (0.11) (0.33) 2.20 2.57 3.72 3.72 (10.64) 1.50 1.18
Euro 0.00 1.07 0.02 (0.10) 0.95 (0.85) 1.92 1.92 (5.04) 1.16 1.03 China (0.01) 6.88 0.08 (0.03) 0.11 0.38 0.91 0.91 (6.01) 6.96 6.46
Commodities Indicators 1D Change
Spot Points 1D 3D 1W 1M 3M YTD 1YR High Low
Oil 0.11 50.82 0.22 (3.03) (4.44) 7.35 (3.05) (5.40) 17.69 55.24 39.19 CPO 39.00 2,504.00 1.58 0.24 (0.36) (9.93) (19.25) (19.46) (7.57) 3,202.00 2,172.00 Rubber (3.50) 963.50 (0.36) (1.88) (1.48) (12.96) (13.43) (1.43) 34.29 1,174.00 644.00 Coal 0.05 81.30 0.06 (0.97) (0.91) (0.18) (2.75) (14.15) 59.26 112.25 69.00 Iron Ore (2.02) 63.55 (3.08) (10.38) (14.36) (28.52) (24.11) (18.59) 8.82 94.91 46.80 Tin 94.00 19,894.00 0.47 1.53 (0.64) (2.93) (1.48) (6.18) 15.39 21,945.00 15,494.00 Nickel 140.00 9,480.00 1.50 (2.77) (3.66) (6.74) (2.27) (5.39) 1.66 12,145.00 8,329.00 Copper 67.00 5,623.00 1.21 (1.21) (2.50) (4.37) (2.17) 1.58 12.89 6,204.00 4,483.50 Gold (1.50) 1,280.60 (0.12) (0.91) (0.48) 2.74 6.28 11.36 2.51 1,377.50 1,124.70 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 [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 Nadya Swastika Research Associate [email protected] +6221 2854 8338
Private Wealth Management
Evelyn Satyono Head of PWM / Institutional Sales [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 Fachruly Fiater Institutional Equity Sales [email protected] +6221 2854 8325
Equity Sales Team
Kelvin Long Head of Equities [email protected] +6221 2854 8150 Yulianah Institutional Equity Sales [email protected] +6221 2854 8146 Lucia Irawati Retail Equity Sales [email protected] +6221 2854 8173
Online Trading Sales Team
Nugroho Nuswantoro Head of Marketing Online Trading [email protected] +6221 2854 8372 Wahyu Widodo Marketing [email protected] +6221 2854 8371 Aben Epapras Marketing [email protected] +6221 2854 8389
