Riset Saham Harian
Samuel Research 27 Maret 2017
www.samuel.co.id Page 1 of 7
IHSG berpotensi diwarnai oleh mixed sentiment
Bursa AS ditutup mixed pada jumat lalu seiring kegagalan Partai Republican mengganti Obamacare dengan healthcare bill baru yang diajukan Presiden Trump. Healthcare bill baru dinilai akan memberatkan sejumlah masyarakat.
Di sisi lain, kegagalan dalam mewujudkan healthcare bill ini semakin meningkatkan ketidakpastian terkait rencana penurunan pajak Trump. Dari sisi ekonomi, data durable goods orders tercatat lebih baik dari ekspektasi sementara PMI composite flash lebih rendah dari konsensus.
Di dalam negeri, IHSG menguat tipis ke posisi 5.567 pada jumat lalu. Di pasar reguler, investor asing mencatatkan net buy Rp 328 miliar. Melihat pergerakan EIDO semalam dan beberapa bursa pagi ini, IHSG berpeluang untuk cenderung flat hari ini. Akhir minggu ini merupakan batas waktu laporan keuangan FY16 emiten, sehingga di minggu ini IHSG berpotensi diwarnai oleh laporan kinerja emiten-emiten.
Highlights
SGRO: Laba bersih meningkat
TLKM: Telkomsel garap remitansi
Metal: Empat perusahaan nikel siap ekspor
BRPT: Raih kredit US$ 250 juta
PPRO: Membuat proyek di Kertajati
Mining: Pemerintah umumkan hasil final penataan pertambangan
Sektor transportasi: Taksi diberi toleransi 3 bulan
TPIA: Berencana melakukan rights issue sebanyak 280 juta saham
: 5,567.1
: +3.4 (+0.1%) : 4,050 Mn shrs : 5,327 Bn rupiah Last
Close +/- %
UNVR 43,150 650 1.5
HMSP 4,000 40 1.0
SMBR 2,950 310 11.7
ASII 8,525 75 0.9
ICBP 8,600 -175 -2.0
BBNI 6,800 -100 -1.5
RMBA 404 -46 -10.2
CPIN 3,200 -100 -3.0
Foreign Net Buy / Sell
Net Buy (Rpbn) Net Sell (Rpbn)
BMRI 208 TLKM 72
ASII 116 ICBP 21
BBRI 59 BBTN 17
BBCA 47 ADHI 16
INDF 26 PTPP 13 Money Market
Last
Close +/- %
USD/IDR 13,327 2.0 0.0
JIBOR O/N 4.4 0.0 -
Infl (MoM) 0.2 - -
Dual Listing Securities Last
Close +/- %
TLKM 30.8 0.0 0.1
ISAT 39.3 -0.3 -0.6
EIDO 26.0 0.1 0.2
World Indices Last
Close +/- %
DJIA 20,597 -60 -0.3
S&P 500 2,344 -2 -0.1
Euro Stoxx 3,444 -8 -0.2
MSCI World 1,846 1 0.0
Nikkei 19,075 -187 -1.0
Hang Seng 24,358 31 0.1
Commodities Last
Close +/- %
Brent Oil 51 0.2 0.3
CPO Malay 2,754 -17.0 -0.6
Coal Newc 82 0.6 0.7
Nickel 9,829 -160.3 -1.6
Tin 19,881 -411.5 -2.0
Changes Changes
Changes
Changes Lagging Movers
Market Value
Changes Leading Movers
Market Activity Monday, 27 Mar 2017 Market Index Index Movement Market Volume
Riset Saham Harian
27 Maret 2017
www.samuel.co.id Page 2 of 7
SGRO: Laba bersih meningkat
Laporan keuangan perusahaan menunjukkan kenaikan penjualan 2.8% menjadi Rp 2.9 triliun.
Laba usaha turun 12% menjadi Rp 447 miliar. Laba bersihnya naik 78% menjadi Rp 441miliar. Secara umum kinerja FY’16 membaik sejalan dengan menngkatnya manfaat beban pajak penghasilan. (Kontan) SGRO: Non-Coverage.
TLKM: Telkomsel garap remitansi
Anak usaha PT Telekomunikasi Indonesia Tbk (TLKM), PT Telekomunikasi Selular (Telkomsel), bekerja sama dengan Singapore Telecomunications Limited (Singtel) menggarap bisnis remintansi dari tenaga kerja Indonesia (TKI) di Singapura. Layanan ini nantinya merupakan bagian dari pengembangan mobile financial services (layanan keuangan digital) yang dilakukan perusahaan. (Bisnis Indonesia) TLKM: Buy 17E’ PE: 17.0x, PBV:
4.1x.
Metal: Empat perusahaan nikel siap ekspor
Kementerian Energi dan Sumber Daya Mineral (ESDM) menyatakan, ada em-pat perusahaan nikel yang sudah mengajukan permohonan ekspor mineral. Dua diantaranya ton itu, yakni PT Aneka Tam-bang Tbk (ANTM) dan PT Fajar Bhakti Lintas. Hingga saat ini kuota jumlah ekspor akan disesuaikan dengan kapasitas jumlah smalter. (Kontan). Metal: neutral
BRPT: Raih kredit US$ 250 juta
PT Barito Pacific Tbk (BRPT) mendapatkan pinjaman dari Bangkok Bank Public Company Limited sebesar US$ 250 juta yang akan digunakan untuk mengakuisisi Star Energy Group Holdings Pte Ltd. Sebelumnya BRPT telah menandatangani Suplemental Memorandum of Understanding (Suplemental MoU) dengan Star Energy pada 21 Maret 2017. Pinjaman ini memiliki tenor 18 bulan dengan jaminan saham PT Chandra Asri Petrochemical Tbk (TPIA) sebanyak 498 juta saham atau setara 45,04% saham kepemilikan. (Bisnis Indonesia) BRPT:
Non-coverage
PPRO: Membuat proyek di Kertajati
PPRO bekerja sama dengan PT BIJB Aerocity Development menggarap proyek mixed use di Bandara Kertajati, Jawa Barat. Proyek itu terdiri dari hotel, apartemen, dan kantor dengan luas area pengembangan mencapai 300 ha. Nilai investasinya belum diumumkan. (Kontan) PPRO: Non-Coverage.
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Mining: Pemerintah umumkan hasil final penataan pertambangan
Kementerian Energi dan SumberDaya Mineral (ESDM) akan mengumumkan hasil penataan sektor pertambangan pada Senin (27/4) ini, mundur dari seharusnya pada awal Maret lalu.
Dari laporan terakhir, tercatat masih banyakperusahaan tambang yang belum memperolehstatus clean and clear (CnC).
Berdasarkan data ESDM per 30 Januari 2017, Dari jumlah 661 Kementerian ESDM sementara ini mencabut 38 IUP yang status clear and clean- nya dibatalkan dan 200 lainnya dicabut.
Belum diketahui perusahaan apa saja berencana akan diumumkan pekan ini. (Investor Daily) Base Metal: Neutral
Sektor transportasi: Taksi diberi toleransi 3 bulan
Pemerintah masih memberikan toleransi selama 3 bulan kepada operator angkutan sewa konvensional dan berbasis aplikasi untuk memenuhi semua persyaratan, seperti pembuatan STNK, SIM, penetapan tarif dan kuota.
Selama masa toleransi, pihak berwajib tidak akan menindak pelanggaran yang dilakukan oleh angkutan umum sewa konvensional dan taksi online.
Menurut keterangan dari Kepala Badan Pengelola Transportasi Jabodetabek, Elly Adriani Sinaga, pemerintah ingin melakukan pengaturan tarif atas dan tarif bawah bukan hanya untuk melindungi konsumen tetapi untuk menciptakan stabilisasi harga pasar serta mencegah permainan harga. (Bisnis Indonesia) Sektor Transportasi: Non-coverage.
TPIA: Berencana melakukan rights issue sebanyak 280 juta saham
PT Chandra Asri Tbk (TPIA) berencana melaksanakan rights issue dengan menerbitkan saham baru sebanyak 280 juta saham dengan nilai nominal saham Rp 1.000. Pemegang saham yang tidak menggunakan haknya untuk memesan efek terlebih dahulu, akan terdilusi sebesar 7,85%. Pelaksanaan rights issue masih menunggu keputusan rapat umum pemegang saham tahunan (RUPST) pada 2 Mei 2017.
Dana rights issue tersebut akan digunakan untuk membiayai ekspansi usaha serta memenuhi persyaratan minimum 7,5% dari jumlah saham dalam modal disetor, untuk dimiliki oleh pemegang saham bukan pengendali dan bukan pemegang saham utama. (Bisnis Indonesia, Petromindo) TPIA: Non-coverage
Riset Saham Harian
27 Maret 2017
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Ticker 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 277,667 11900 0.0 2.8 11481 12400 4.2 12.4 12.0 1.6 1.5 13.1% 12.4%
BBCA BUY 408,040 16550 (0.3) 6.8 16995 17100 3.3 17.6 16.6 3.2 2.7 17.9% 16.5%
BBRI BUY 324,399 13150 0.0 12.6 13360 13500 2.7 11.6 10.2 1.9 1.7 16.8% 16.8%
BBNI BUY 126,811 6800 1.7 23.1 6842 6600 -2.9 8.9 8.0 1.3 1.1 14.5% 14.4%
BBTN BUY 24,569 2320 0.0 33.3 2409 2570 10.8 7.9 7.3 1.1 1.0 14.4% 13.7%
Average 11.7 10.8 1.8 1.6 15.3% 14.8%
Consumer (Staples)
ICBP BUY 100,292 8600 (2.0) 0.3 9986 10300 19.8 24.2 21.2 5.0 4.4 20.8% 20.9%
INDF BUY 70,682 8050 (0.3) 1.6 10000 9900 23.0 15.1 13.2 2.2 2.0 14.2% 14.9%
KLBF BUY 70,547 1505 1.0 (0.7) 1732 1700 13.0 27.9 24.7 5.3 4.7 19.0% 19.0%
ROTI BUY 7,441 1470 0.7 (8.1) 1806 2050 39.5 21.3 18.1 4.4 3.7 20.5% 20.2%
ULTJ BUY 12,131 4200 0.0 (8.1) 5350 5300 26.2 15.8 14.3 3.0 2.5 18.9% 17.5%
UNVR HOLD 329,235 43150 1.5 11.2 44455 45200 4.8 46.1 41.1 53.7 47.1 116.6% 114.4%
SIDO BUY 8,250 550 (1.8) 5.8 670 700 27.3 15.3 12.2 2.9 2.7 18.9% 22.4%
AISA BUY 6,984 2170 0.0 11.6 2548 2440 12.4 13.3 12.6 1.6 1.4 12.2% 11.5%
Average 22.4 19.7 9.8 8.6 30.1% 30.1%
Cigarette
HMSP BUY 465,272 4000 1.0 4.4 4160 4390 9.7 36.0 34.8 12.3 0.3 34.3% 1.0%
GGRM BUY 124,921 64925 (0.8) 1.6 77075 77150 18.8 18.4 17.4 2.6 2.3 14.1% 13.4%
Average 27.2 26.1 7.5 1.3 24.2% 7.2%
Healthcare
MIKA HOLD 37,832 2600 0.8 1.2 2958 2950 13.5 49.9 43.8 9.5 8.6 19.1% 19.7%
SILO HOLD 18,469 14200 1.1 30.3 13045 12500 -12.0 175.3 137.9 5.7 5.3 3.3% 3.8%
Average 112.6 90.8 7.6 7.0 11.2% 11.8%
Poultry
CPIN BUY 52,474 3200 (3.0) 3.6 3353 4500 40.6 13.5 12.5 1.7 1.6 12.8% 12.4%
JPFA BUY 17,629 1545 (1.9) 6.2 2013 2200 42.4 8.5 7.7 1.6 1.4 18.7% 17.6%
MAIN BUY 2,709 1210 (0.8) (6.9) 1506 1730 43.0 6.5 5.8 1.0 0.9 15.6% 15.5%
Average 9.5 8.7 1.4 1.3 15.7% 15.2%
Retail
MAPI BUY 9,836 5925 2.2 9.7 6367 7700 30.0 36.3 26.2 2.8 2.6 7.8% 9.8%
RALS BUY 8,196 1155 0.9 (3.3) 1560 1750 51.5 17.8 14.1 2.1 2.0 12.0% 13.9%
ACES HOLD 13,892 810 0.0 (3.0) 931 825 1.9 19.8 16.9 4.4 3.7 22.2% 21.8%
LPPF BUY 40,559 13900 (2.5) (8.1) 15810 19500 40.3 14.7 14.1 11.9 8.5 81.1% 60.0%
Average 22.1 17.8 5.3 4.2 30.8% 26.4%
Telco
EXCL BUY 34,950 3270 (0.3) 41.6 3378 3200 -2.1 88.4 58.4 1.6 1.6 1.8% 2.7%
ISAT BUY 37,902 6975 0.0 8.1 8345 7200 3.2 21.5 13.5 2.5 2.2 11.7% 16.2%
TLKM BUY 411,264 4080 (0.2) 2.5 4653 5000 22.5 17.0 13.2 4.1 3.5 24.0% 26.7%
TOWR BUY 40,812 4000 0.0 11.7 4515 4500 12.5 11.6 10.9 2.9 2.3 24.5% 20.7%
Average 34.6 24.0 2.8 2.4 15.5% 16.6%
Auto and HE
ASII BUY 345,122 8525 0.9 3.0 9085 9000 5.6 15.4 13.1 2.7 2.2 17.2% 16.4%
UNTR BUY 103,605 27775 0.6 30.7 28015 27500 -1.0 15.3 13.6 2.3 2.1 15.2% 15.3%
Average 15.4 13.3 2.5 2.1 16.2% 15.9%
Aviation
GIAA BUY 8,957 346 0.6 2.4 367 445 28.6 13.3 10.5 0.9 1.0 7.1% 9.9%
Property
BSDE BUY 35,895 1865 1.1 6.3 2340 2350 26.0 15.0 12.8 1.4 1.2 9.3% 9.3%
PWON BUY 28,896 600 0.0 6.2 699 710 18.3 20.0 18.3 3.2 2.8 15.8% 15.1%
ASRI HOLD 7,113 362 (1.1) 2.8 459 390 7.7 10.6 10.1 0.9 0.9 8.8% 8.7%
SMRA BUY 19,332 1340 (2.2) 1.1 1541 1550 15.7 27.7 26.1 2.3 2.1 8.4% 8.2%
SSIA BUY 2,823 600 0.0 38.2 854 750 25.0 13.3 11.1 0.9 0.8 6.6% 7.5%
CTRA BUY 23,572 1270 0.0 (4.9) 1680 1580 24.4 12.5 10.2 1.4 1.3 11.0% 12.4%
DMAS BUY 10,989 228 (1.7) (0.9) 323 300 31.6 16.3 13.4 1.3 1.2 8.0% 8.9%
KIJA BUY 6,695 324 0.6 11.0 450 450 38.9 10.8 9.5 1.1 1.0 10.1% 10.3%
Average 15.8 13.9 1.6 1.4 9.8% 10.0%
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www.samuel.co.id Page 5 of 7
Construction
PTPP BUY 21,018 3390 (0.0) (11.0) 4888 4150 22.4 15.1 12.7 1.8 1.6 11.8% 12.6%
ADHI HOLD 8,404 2360 (2.1) 13.5 2565 2550 8.1 25.4 21.3 1.5 1.4 6.0% 6.5%
WSKT BUY 33,120 2440 (1.2) (4.3) 3316 3250 33.2 14.6 11.6 1.7 1.6 11.7% 14.2%
WIKA BUY 22,066 2460 (1.2) 4.2 3136 3000 22.0 19.8 17.3 1.6 1.4 8.0% 8.3%
Average 18.7 15.7 1.6 1.5 9.4% 10.4%
Cement
INTP SELL 59,912 16275 (0.9) 5.7 15905 13500 -17.1 16.5 15.5 2.1 2.0 12.9% 12.6%
SMGR HOLD 53,087 8950 (1.4) (2.5) 9809 9000 0.6 13.1 11.9 1.7 1.5 12.9% 12.9%
SMCB SELL 6,935 905 (0.5) 0.6 804 700 -22.7 -37.7 -30.2 0.9 0.9 -2.3% -2.8%
SMBR HOLD 29,021 2950 11.7 5.7 458 2300 -22.0 77.6 73.8 7.8 6.9 10.0% 9.3%
Average 17.4 17.7 3.1 2.8 8.4% 8.0%
Precast
WSBP BUY 13,840 525 0.0 (5.4) 686 690 31.4 20.6 13.5 1.7 1.4 8.0% 10.6%
WTON BUY 6,972 800 0.0 (3.0) 1140 1150 43.8 21.1 18.2 2.3 1.9 10.9% 10.6%
Average 20.8 15.8 2.0 1.7 9.4% 10.6%
Oil and Gas
PGAS BUY 59,634 2460 (1.2) (8.9) 3106 3375 37.2 8.8 7.3 1.2 1.1 13.5% 14.5%
AKRA BUY 26345.8 6600.0 0.0 10.0 7175.4 7600 15.2 22.5 22.3 3.4 3.1 15.2% 14.0%
MEDC BUY 9,964 2990 1.0 126.5 3039 4500 50.5 4.9 5.8 0.9 0.8 17.7% 13.4%
Average 12.1 11.8 1.8 1.7 0.2 0.1
Utilities
JSMR BUY 33,023 4550 (2.4) 5.3 5583 5000 9.9 17.2 22.8 2.4 2.2 13.9% 9.8%
Metal
ANTM BUY 17,542 730 (2.0) (18.4) 921 1250 71.2 8.5 4.6 0.8 0.8 10.0% 17.8%
INCO BUY 23,052 2320 (1.3) (17.7) 2808 3500 50.9 25.2 14.7 0.9 0.9 3.7% 6.2%
TINS BUY 7,038 945 0.5 (12.1) 1253 1200 27.0 45.0 27.8 1.3 1.3 2.9% 4.5%
Average 26.2 15.7 1.0 1.0 5.5% 9.5%
Coal
DOID BUY 7034.6 845.0 -1.2 65.7 950.0 1050 24.3 93888.9 70416.7 35208.3 22837.8 37.5% 32.4%
ITMG BUY 22,457 19875 3.5 17.8 20313 19000 -4.4 8.6 7.6 1.7 1.6 19.6% 20.5%
ADRO BUY 56,615 1770 1.7 4.4 1950 2100 18.6 13.4 12.2 1.1 1.1 8.5% 8.7%
PTBA BUY 27,246 11825 1.7 (5.4) 14748 15000 26.8 12.2 9.9 2.4 2.1 19.9% 21.5%
Average 23480.8 17611.6 8803.4 5710.6 21.4% 20.8%
Plantation
AALI BUY 28,822 14975 (0.8) (10.7) 18238 19800 32.2 16.4 13.8 1.8 1.7 10.7% 12.1%
LSIP BUY 9,995 1465 (1.7) (15.8) 1798 2050 39.9 13.2 10.2 1.2 1.1 9.1% 10.9%
SIMP BUY 9,253 585 (1.7) 18.4 560 600 2.6 13.3 10.3 0.6 0.6 4.9% 5.8%
Average 14.3 11.4 1.2 1.1 8.2% 9.6%
Source: SSI Research, Bloomberg
Note: GIAA, PGAS, ITMG, ADRO, INCO, DOID report in USD.
Riset Saham Harian
27 Maret 2017
www.samuel.co.id Page 6 of 7
Regional Indices 1D Change
Points 1D 3D 1W 1M 3M YTD 1YR High Low
World 0.84 1,846 0.05 0.17 (0.79) 0.23 4.84 5.40 13.68 1,869 1,567
U.S. (S&P) (1.98) 2,344 (0.08) (0.00) (1.44) (1.09) 3.31 4.70 15.13 2,401 1,992
U.S. (DOW) (59.86) 20,597 (0.29) (0.34) (1.52) (1.16) 3.27 4.22 17.59 21,169 17,063
Europe (8.03) 3,444 (0.23) 0.42 (0.12) 4.07 5.05 4.67 15.32 3,472 2,678
Emerging Market 1.20 969 0.12 0.22 (0.33) 3.06 14.74 12.39 19.30 980 781
FTSE 100 (3.89) 7,337 (0.05) (0.56) (1.19) 1.16 3.80 2.72 n/a 7,447 5,789
CAC 40 (11.86) 5,021 (0.24) 0.37 (0.17) 3.63 3.56 3.26 15.96 5,055 3,956
Dax 24.59 12,064 0.20 0.85 (0.26) 2.04 5.16 5.08 22.46 12,156 9,214
Indonesia 3.38 5,567 0.06 0.43 0.48 3.42 9.10 5.11 15.33 5,581 4,691
Japan (218.22) 19,044 (1.13) 0.02 (2.44) (0.33) (1.85) (0.37) 12.01 19,668 14,864
Australia (26.55) 5,727 (0.46) 0.75 (0.90) 0.05 1.76 1.08 12.64 5,833 4,894
Korea (6.08) 2,163 (0.28) (0.25) 0.27 3.71 5.91 6.73 9.03 2,182 1,893
Singapore 15.97 3,143 0.51 (0.50) (0.84) 1.10 8.91 9.10 10.38 3,178 2,703
Malaysia (1.25) 1,746 (0.07) (0.51) 0.03 3.06 7.78 6.34 2.46 1,758 1,612
Hong Kong 30.57 24,358 0.13 (0.95) 0.20 1.81 12.90 10.72 19.72 24,657 19,595
China 20.90 3,269 0.64 0.24 0.99 1.26 4.97 5.34 9.73 3,301 2,781
Taiwan (27.76) 9,903 (0.28) (0.70) (0.06) 1.56 8.71 7.02 13.76 9,977 8,000
Thailand 4.79 1,574 0.31 0.30 0.80 0.99 3.72 1.98 12.81 1,601 1,343
Philipines (31.41) 7,270 (0.43) (0.73) (1.03) 0.51 9.18 6.27 (1.23) 8,118 6,499
Monetary Indicators 1D Change
Points 1W 1M 3M YTD 1YR High Low
JIBOR Overnight (%) 0.00 4.35 0.14 0.03 (8.29) 2.76 (11.22) 5.58 4.16
Foreign Reserve (US$bn) n/a 119.86 n/a 2.54 7.53 3.01 14.65 119.86 103.59
Inflation Rate (%) n/a 0.23 n/a (76.29) (51.06) (45.24) 355.56 0.97 (0.45)
US Fed Rate (%) 0.00 1.00 0.00 33.33 33.33 33.33 100.00 1.00 0.50
Indo Govt Bond Yld (10yr) - % (0.01) 7.12 (1.48) (5.43) (9.82) (10.74) (8.55) 8.36 6.77
Exchange Rate (per US$) 1D Change
Currency Points 1D 3D 1W 1M 3M YTD 1YR High Low
Indonesia 2.00 13327 (0.02) (0.06) 0.14 0.03 1.10 1.10 (0.55) 13,698 12,920
Japan (0.91) 110.43 0.82 0.66 1.92 2.06 5.91 5.91 2.73 118.66 99.02
UK 0.00 1.25 0.32 0.22 1.25 0.57 1.40 1.40 (12.21) 1.50 1.18
Euro 0.00 1.08 0.41 0.42 0.96 2.41 3.09 3.09 (3.16) 1.16 1.03
China (0.00) 6.88 0.04 0.05 0.29 (0.21) 0.89 0.89 (5.36) 6.96 6.45
Commodities Indicators 1D Change
Spot Points 1D 3D 1W 1M 3M YTD 1YR High Low
Oil 0.14 48.11 0.29 0.15 (0.23) (10.99) (10.74) (10.44) 21.92 55.24 35.24
CPO (17.00) 2,754.00 (0.61) (1.96) (1.75) (1.85) (10.00) (11.42) 2.99 3,202.00 2,172.00
Rubber (16.00) 1,055.50 (1.49) (4.65) (5.29) (6.96) 10.58 7.98 71.35 1,174.00 625.50
Coal 0.60 81.55 0.74 1.94 (0.85) (2.92) (8.93) (13.89) 61.01 112.25 69.00
Iron Ore (0.27) 84.83 (0.32) (3.88) (3.80) (8.41) 8.28 8.67 48.56 94.91 46.80
Tin (411.50) 19,880.50 (2.03) (3.00) (2.81) 3.68 (6.35) (6.25) 14.36 21,945.00 15,494.00
Nickel (160.00) 9,870.00 (1.60) (2.85) (3.80) (9.12) (5.19) (1.50) 14.10 12,145.00 8,245.00
Copper (21.00) 5,804.00 (0.36) 0.48 (2.21) (2.09) 6.13 4.85 17.37 6,204.00 4,483.50
Gold 5.00 1,253.50 0.40 0.30 1.58 (0.31) 10.21 9.00 2.61 1,377.50 1,124.70
Source: SSI Research, Bloomberg
Last Price
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DISCLAIMERS : Analyst Certification : The v iews expressed in this research accurately ref lect 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 v iews in this research. The analyst(s) principally responsible f or the preparation of this research has taken reasonable care to achieve and maintain independence and objectivity in making any recommendations. This document is f or information only and f or the use of the recipient. It is not to be reprod uced 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 recommenda tion contained in this report may not be suitable f or all investors. Moreover, although the inf ormation contained herein has been obtained from sources believed to be reliable, its accuracy, completeness and reliability cannot be guaranteed. All rights reserv ed by PT Samuel Sekuritas Indonesia
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