Daily Insight. Market Update. your reliable partner # Wednesday, June 21 st 2017

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Daily Insight

Wednesday, June 21

st

₂₀₁₇

Market Update

IHSG diprediksi akan bergerak melemah pada

perdagangan hari ini. Pasar saham Eropa dan

Amerika

ditutup

turun

kemarin

tertekan

penurunan saham energi setelah harga minyak

anjlok hampir 2%. Produsen minyak dunia masih

belum dapat memastikan pemotongan produksi

minyak kedepan. Selain itu, Eropa masih

memperhatikan kebijakan suku bunga Inggris

seiring gejolak politik di negara tersebut. Pasar

saham Korea, Jepang dan Australia dibuka turun

pagi ini. Dari dalam negeri, Penjualan mobil

domestik pada bulan Mei 2017 naik 5.7% hingga

mencapai 93.661 unit dibandingkan 88.567 unit

di periode sama tahun sebelumnya.

Secara teknikal IHSG bergeark menguat kembali

menguji resistance dan upper bollinger bands

setelah rebound pada support MA7. Indikator

stochastic bergerak liar berayun keatas dengan

indikator RSI yang berpotensi membentuk pola

bullish momentum. Sehingga diperkirakan IHSG

akan bergerak menguat terbatas hingga resistance

terdekatnnya pada range 5718-5815.

Saham-saham yang dapat diperhatikan diantaranya AKRA,

BBNI, GJTL, INDF, RALS, ISAT, UNVR

20-Jun-17

Daily

Yt d

Dow Jones

21,467.14

-0.3%

8.6%

S&P 500

2,437.03

-0.7%

8.9%

Nasdaq

6,188.03

-0.8%

15.0%

FTSE 100

7,472.71

-0.7%

4.6%

DAX

12,814.79

-0.6%

11.6%

CAC 40

5,293.65

-0.3%

8.9%

Hang Seng

25,843.04

-0.3%

17.5%

Nikkei

20,230.41

0.8%

5.8%

Kospi

2,369.23

-0.1%

16.9%

Shanghai Comp

3,140.01

-0.1%

1.2%

All Ordinaries

4,087.85

-0.6%

5.5%

EIDO

26.91 -0.8%

11.5%

Idn CDS 5yr USD

114.60 0.5%

-27.4%

MSCI Emerging Mkt

1,008.67

-0.4%

17.0%

CBOE SPX Volatility

10.86 4.7%

-22.6%

US Dollar Index

97.76 0.2%

-4.4%

Commodit ies (USD)

20-Jun-17

Daily

Yt d

Coal

81.20 -1.9%

4.9%

CPO (MYR)

2,603.00

-1.4%

-19.1%

Crude Oil

43.23 -2.2%

-19.5%

Gold

1,243.01

-0.1%

8.3%

Copper

255.45 -1.4%

2.0%

Nickel

8,780.50

-1.9%

-12.0%

Tin

19,580.00

-0.5%

-7.6%

HRC Steel

589.00 0.0%

-7.0%

Corn

370.00 -1.4%

5.1%

Soybean

927.75 -1.1%

-6.9%

Indonesia

20-Jun-17

Daily

Yt d

USDIDR

13,292.00

0.1%

-1.3%

IHSG

5,791.90

0.9%

9.3%

LQ45

974.33 1.1%

10.1%

ISSI

184.04 1.1%

7.0%

JII

744.63 1.4%

7.3%

Finance

940.87 0.9%

15.9%

Property

488.58 0.5%

-5.6%

Consumer

2,547.83

0.7%

9.6%

Misc Indust

1,498.48

2.1%

9.3%

Basic Indust

613.32 1.2%

14.0%

Mining

1,420.58

1.5%

2.6%

Agriculture

1,751.86

-0.3%

-6.0%

Trading

909.43 0.0%

5.7%

Infrastructure

380.10 1.5%

11.4%

Indonesia St ock

20-Jun-17

Yt d

Foreign Net Buy (Sell)

(480.55)

19,199

(bn Rp)

Value Shares Traded

5,000.12

(bn Rp)

Volume Shares Traded

4,978.83

(mn shares)

Govt Bond Yield (%)

20-Jun-17

Chg

Indonesia 10yr IDR

6.773

0.015 Indonesia 10yr USD

3.615 (0.009)

US Treasury 10yr

2.160

0.030

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Daily News:

Capital Financial Indonesia (CASA): Perseroan meraih pendapatan sebesar Rp1,26 triliun hingga periode 31

Maret 2017 naik tajam 152,7 % jika dibandingkan dengan pendapatan di periode yang sama tahun sebelumnya

sebesar Rp498,64 miliar. (Iqp)

Atlas Resources (ARII): Perseroan menganggarkan belanja modal atau capital expenditure (capex) sebesar US$

8,2 juta pada tahun ini. Dana itu bersumber dan kas perusahaan. (Iqp)

Bukit Uluwatu Vila (BUVA): Perseroan telah menjual sebagian saham dalam PT Kharisma Jawara Abadi (KJA).

Sebanyak 975 lembar saham PT KJA dilepas kepada pemegang saham lainnya yakni PT Global Culina Abadi

(GCA) senilai Rp975 juta. (Iqp)

Cardig Aero Services (CASS): Perseroan menyiapkan belanja modal atau capital expenditure (capex) sekitar Rp

850 miliar untuk ekspansi tahun ini. (Britama.com)

Bank Rakyat Indonesia (BBRI): Hingga akhir Mei 2017, rasio kredit bermasalah atau non perfoming loan (NPL)

Perseroan masih di kisaran 2,1% hingga 2,2%. (Kontan.co.id)

Mulia Industrindo (MLIA): Perseroan menganggarkan capital expenditure tahun 2017 di kisaran Rp180

miliar-Rp200 miliar. Dana tersebut lebih banyak diserap untuk perbaikan tungku api dan sisanya peremajaan mesin.

(Britama.com)

Pelangi Indah Canindo (PICO): Perseroan meraih pendapatan usaha sebesar Rp203,22 miliar hingga periode

31 Maret 2017 naik dibandingkan pendapatan usaha Rp175,67 miliar di periode sama tahun sebelumnya.

(Iqplus)

Asia Pacific Investama (MYTX): Perseroan meraih penjualan bersih sebesar Rp1,29 triliun hingga periode 31

Desember 2016 turun dibandingkan dengan penjualan bersih Rp1,89 triliun di periode sama tahun

sebelumnya. (Iqplus)

Century Textile (CNTX): Perseroan meraih penjualan neto sebesar US$32,07 juta hingga periode 31 Maret

2017 turun tipis dibandingkan penjualan neto di periode sama tahun sebelumnya yang mencapai US$32,94

juta. (Iqplus)

19-May-17 20-Jun-17 Daily

Yt d

Misc Indust

ASII IJ Equity

8,750

8,950

2.3%

8.2%

SMSM IJ Equity

1,175

1,195

1.7% 21.9%

Basic Indust

SMGR IJ Equity

9,200

10,200

10.9% 11.2%

INTP IJ Equity

18,000

18,675

3.8% 21.3%

CPIN IJ Equity

2,990

3,140

5.0%

1.6%

JPFA IJ Equity

1,200

1,330

10.8%

-8.6%

Finance

BBTN IJ Equity

2,530

2,660

5.1% 52.9%

BBNI IJ Equity

6,700

0.0% 21.3%

BBRI IJ Equity

14,500

14,975

3.3% 28.3%

BBCA IJ Equity

17,900

18,100

1.1% 16.8%

Consumer

UNVR IJ Equity

48,750

48,250

-1.0% 24.4%

ICBP IJ Equity

9,100

8,775

-3.6%

2.3%

INDF IJ Equity

8,650

8,500

-1.7%

7.3%

Property

WSKT IJ Equity

2,270

2,310

1.8%

-9.4%

WIKA IJ Equity

2,300

2,220

-3.5%

-5.9%

PWON IJ Equity

635

605 -4.7%

7.1%

KIJA IJ Equity

326

324 -0.6% 11.0%

Infrastructure

TLKM IJ Equity

4,530

4,490

-0.9% 12.8%

JSMR IJ Equity

5,000

5,350

7.0% 23.8%

Trading

UNTR IJ Equity

24,150

27,000

11.8% 27.1%

AKRA IJ Equity

6,375

6,500

2.0%

8.3%

RALS IJ Equity

1,335

1,225

-8.2%

2.5%

Mining

PTBA IJ Equity

10,800

11,850

9.7%

-5.2%

ITMG IJ Equity

15,750

17,550

11.4%

4.0%

HRUM IJ Equity

2,160

2,060

-4.6%

-3.7%

Agriculture

AALI IJ Equity

14,800

14,375

-2.9% -14.3%

SIMP IJ Equity

605

550 -9.1% 11.3%

LS 27 average ret urn

1.73% 10.3%

JCI Index

5,792

0.00%

9.3%

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World Economic Calendar

RUPS

Ticker Dat e Place Act ion

DAYA 21-Jun-17 RUPSLB

CLEO 21-Jun-17 RUPSLB

PKPK 21-Jun-17 RUPSLB

BYAN 22-Jun-17 Mercantile Athletic Club RUPSLB

PNLF 22-Jun-17 RUPSLB

KPIG 22-Jun-17 MNC Tow er RUPSLB

HADE 22-Jun-17 Fave Hotel Melaw ai RUPSLB

KRAH 22-Jun-17 RUPSLB

TRIO 22-Jun-17 RUPSLB

SDMU 22-Jun-17 RUPSLB

TRAM 22-Jun-17 RUPSLB

SCPI 22-Jun-17 RUPSLB

MINA 22-Jun-17 RUPSLB

PNIN 22-Jun-17 RUPSLB

HOME 22-Jun-17 Belezza Gapura Prima Office Tow er RUPSLB

INRU 23-Jun-17 East Tow er RUPSLB

POOL 23-Jun-17 Gedung Bursa Efek Indonesia RUPSLB

DART 23-Jun-17 City Walk Sudirman RUPSLB

META 23-Jun-17 RUPSLB

AIMS 23-Jun-17 City Walk Sudirman RUPSLB

CNKO 23-Jun-17 RUPSLB

Source: KSEI

Date Yield (mid)

20-Jun-17 7.04 19-Jun-17 7.06 16-Jun-17 7.07 15-Jun-17 7.09 14-Jun-17 7.10

Indonesia 10yr IDR Govt Bond Yield

Indonesia St ock Yt d Net Foreign Net Value (Rp bn) JASXFBAT Index Buy (Sell) (Rp bn)

20-Jun-17 (480.55) 19,199.19 19-Jun-17 (51.18)

16-Jun-17 200.07 15-Jun-17 (269.81)

14-Jun-17 (207.29) So urce: B lo o mberg

Event

Period

Prior

Survey

Actual

20-Jun-17

GE Producer Price Index (MoM)

May

0.40%

-0.20%

Producer Price Index (YoY)

May

3.40%

2.80%

21-Jun-17

JP

All Industry Activity Index (MoM)

Apr

-0.06%

US Existing Home Sales (MoM)

May

5.57M

5.55M

Existing Home Sales Change (MoM)

May

-2.30%

-0.50%

(4)

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Indonesia Government Bonds

Mat urit y

Price (Bid)

YTM (Bid)

Cpn

Next Coupon Issued

OR11 10/15/2017

OR12 10/15/2018

OR13 10/15/2019

SR07 3/11/2018

SR08 3/10/2019

FR28 7/15/2017

FR31 11/15/2020

FR32 7/15/2018

FR34 6/15/2021

FR35 6/15/2022

FR36 9/15/2019

FR37 9/15/2026

FR38 8/15/2018

FR39 8/15/2023

FR40 9/15/2025

FR42 7/15/2027

FR43 7/15/2022

FR44 9/15/2024

FR45 5/15/2037

FR46 7/15/2023

FR47 2/15/2028

FR48 9/15/2018

FR50 7/15/2038

FR52 8/15/2030

FR53 7/15/2021

FR54 7/15/2031

FR56 9/15/2026

FR57 5/15/2041

FR58 6/15/2032

FR59 5/15/2027

FR61 5/15/2022

FR62 4/15/2042

FR63 5/15/2023

FR64 5/15/2028

FR65 5/15/2033

FR66 5/15/2018

FR67 2/15/2044

FR68 3/15/2034

FR69 4/15/2019

FR70 3/15/2024

FR71 3/15/2029

FR72 5/15/2036

FR73 5/15/2031

FR74 8/15/2032

Source: Bloomberg

100.96

5.42

8.50 7/15/2017

10/22/2014

103.22

6.44

9.00 7/15/2017

10/21/2015

99.84

6.67

6.60 7/15/2017

10/26/2016

101.66

5.88

8.25 7/11/2017

3/11/2015

102.79

6.58

8.30 7/10/2017

3/10/2016

100.26

5.72

10.00 7/15/2017

2/24/2005

112.91

6.69

11.00 11/15/2017

6/16/2005

109.32

5.83

15.00 7/15/2017

9/1/2005

121.03

6.69

12.80 12/15/2017

1/26/2006

125.83

6.71

12.90 12/15/2017

2/16/2006

110.17

6.52

11.50 9/15/2017

4/20/2006

133.74

6.98

12.00 9/15/2017

5/18/2006

105.96

6.13

11.60 8/15/2017

8/24/2006

124.78

6.75

11.75 8/15/2017

8/24/2006

124.22

7.07

11.00 9/15/2017

9/21/2006

122.78

7.05

10.25 7/15/2017

1/25/2007

114.76

6.76

10.25 7/15/2017

2/22/2007

116.66

7.02

10.00 9/15/2017

4/19/2007

119.18

7.83

9.75 11/15/2017

5/24/2007

113.00

6.84

9.50 7/15/2017

7/19/2007

121.13

7.13

10.00 8/15/2017

8/30/2007

103.22

6.23

9.00 9/15/2017

9/27/2007

127.73

7.80

10.50 7/15/2017

1/24/2008

125.95

7.38

10.50 8/15/2017

8/20/2009

105.40

6.71

8.25 7/15/2017

7/8/2010

118.31

7.38

9.50 7/15/2017

7/22/2010

110.38

6.84

8.38 9/15/2017

9/23/2010

118.03

7.82

9.50 11/15/2017

4/21/2011

107.19

7.45

8.25 12/15/2017

7/21/2011

101.61

6.77

7.00 11/15/2017

9/15/2011

101.32

6.68

7.00 11/15/2017

10/6/2011

83.78

7.87

6.38 10/15/2017

2/9/2012

94.11

6.85

5.63 11/15/2017

8/13/2012

92.13

7.18

6.13 11/15/2017

8/13/2012

91.63

7.54

6.63 11/15/2017

8/30/2012

99.20

6.18

5.25 11/15/2017

10/25/2012

109.76

7.87

8.75 8/15/2017

7/18/2013

107.46

7.58

8.38 9/15/2017

8/1/2013

102.38

6.46

7.88 10/15/2017

8/29/2013

108.15

6.84

8.38 9/15/2017

8/29/2013

113.86

7.23

9.00 9/15/2017

9/12/2013

107.08

7.54

8.25 11/15/2017

7/9/2015

112.65

7.29

8.75 11/15/2017

8/6/2015

101.29

7.36

7.50 8/15/2017

11/10/2016

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Key Statistic

Ticker

Closing Price

Change (%)

P/E (x)

P/S (x)

P/B (x)

ROA (%)

ROE (%)

10.76 AALI 14,375.00 (1.54) 11.27 1.71 1.54 10.14 16.13 BWPT 250.00 (1.57) - 2.86 1.29 (2.09) (5.38) SSMS 1,595.00 0.63 25.68 5.58 4.40 8.37 18.29 LSIP 1,380.00 (1.43) 10.25 2.09 1.17 9.73 11.92 DSNG 490.00 (1.61) 14.01 1.15 1.95 3.13 9.91 9.24 ADRO 1,640.00 4.79 10.60 1.48 1.22 5.97 12.08 INCO 1,895.00 - - 2.29 0.77 0.51 0.61 ITMG 17,550.00 1.89 8.89 1.03 1.67 13.49 19.20 PTBA 11,850.00 3.72 9.58 1.64 2.23 14.01 24.66 27.28 AISA 1,690.00 (2.03) 9.48 0.86 1.38 6.48 16.23 UNVR 48,250.00 1.37 54.29 9.00 55.24 38.49 103.83 ULTJ 5,000.00 - 18.68 3.03 3.89 19.47 23.25 ICBP 8,775.00 1.15 27.28 2.92 5.46 12.90 21.33 KLBF 1,605.00 0.94 32.36 3.81 6.02 15.32 19.77 MYOR 2,220.00 3.26 41.77 3.10 7.66 10.81 23.45 ROTI 1,265.00 (2.69) 22.87 2.54 4.58 9.95 21.64 SIDO 496.00 (0.80) 15.28 2.88 2.56 16.07 17.29 25.50 ACES 1,085.00 2.84 25.50 3.65 5.77 19.76 24.26 AKRA 6,500.00 2.36 25.51 1.62 3.67 6.51 15.16 LPPF 14,550.00 0.17 21.00 4.29 - 49.83 -MAPI 6,400.00 - 42.17 0.72 3.25 2.44 8.06 MIKA 2,010.00 (1.95) 41.74 11.98 7.88 16.73 19.63 MNCN 1,875.00 - 20.54 3.80 2.76 8.87 14.36 UNTR 27,000.00 2.08 17.45 2.08 2.38 8.48 14.28 19.26 APLN 188.00 - 6.35 0.60 0.48 2.51 8.83 ASRI 318.00 - 39.69 2.43 0.86 0.81 2.21 PWON 605.00 (0.82) 19.75 5.86 3.23 7.24 17.57 BSDE 1,815.00 - 15.43 4.89 1.64 5.95 11.23 CTRA 1,165.00 0.87 16.75 2.78 1.68 3.38 8.75 DILD 410.00 - 19.26 2.02 0.80 1.93 4.30 KIJA 324.00 0.62 18.80 2.19 1.30 3.43 7.14 LPKR 640.00 0.79 20.34 1.42 0.76 1.63 3.98 SMRA 1,290.00 (1.53) 63.12 3.33 2.95 1.75 5.75 SSIA 630.00 (1.56) - 0.77 1.01 0.91 2.15 ADHI 2,180.00 0.46 24.12 0.65 1.45 1.78 6.12 PPRO 224.00 - 29.21 5.00 4.46 5.17 13.69 WSKT 2,310.00 1.76 9.92 0.75 2.86 3.89 19.50 LPCK 4,110.00 1.23 5.70 2.05 0.65 8.87 12.21 MDLN 268.00 1.52 5.05 1.20 0.49 4.92 10.28 JRPT 820.00 2.50 10.79 4.62 2.23 12.50 22.37 17.24 CPIN 3,140.00 (1.26) 24.43 1.26 3.49 8.52 14.85 INTP 18,675.00 2.33 20.20 4.64 2.58 11.73 13.23 MAIN 1,105.00 0.45 - 0.47 1.35 7.35 17.10 SMBR 3,090.00 5.82 116.79 19.57 9.64 6.58 8.58 SMCB 750.00 0.67 - 0.63 0.72 (2.34) (5.69) SMGR 10,200.00 0.49 14.28 2.28 2.17 10.03 15.33 17.87 ASII 8,950.00 2.58 21.13 1.93 3.10 6.53 15.45 AUTO 2,440.00 (0.41) 24.15 0.89 1.22 3.30 5.13 SMSM 1,195.00 (0.42) 14.61 2.28 4.60 21.07 33.69 SRIL 326.00 6.54 7.30 0.66 1.31 6.50 19.21 13.74 BBCA 18,100.00 0.98 21.17 6.86 3.78 3.26 19.27 BBNI 6,700.00 2.29 10.74 2.24 1.43 2.06 14.00 BBRI 14,975.00 1.18 13.74 3.21 2.55 2.86 20.76 BBTN 2,660.00 - 10.35 1.49 1.47 1.39 16.21 BDMN 5,050.00 0.50 16.66 1.96 1.31 1.66 8.08 BMRI 12,525.00 0.40 20.77 2.88 1.96 1.45 10.61 BTPN 2,480.00 (0.40) 7.93 0.99 0.90 2.04 11.88 BBKP 620.00 - 5.11 0.52 0.59 1.09 12.77 BJTM 670.00 (0.74) 9.73 1.96 1.39 2.40 15.23 BJBR 2,190.00 (0.45) 18.29 1.89 2.20 1.21 13.31 13.63 CMNP 1,370.00 (0.36) 10.13 2.04 0.99 6.56 11.11 EXCL 3,240.00 0.31 - 1.62 1.63 0.46 1.42 TBIG 6,875.00 0.36 38.47 6.79 17.15 3.50 41.79 SOCI 308.00 - 7.72 1.26 0.55 3.97 7.39 JSMR 5,350.00 2.39 18.33 1.98 2.85 4.22 16.78 PGAS 2,300.00 (4.17) 13.63 1.42 1.28 4.41 9.40 TLKM 4,490.00 2.05 20.69 3.71 4.88 11.77 25.13 TOWR 3,820.00 (1.29) 13.91 7.50 3.42 13.50 32.35 To p Gainers (%) 1 2 3 4 5

SRIL SMBR ADRO PTBA MYOR

To p Lo ssers (%) 68 67 66 63 61

PGAS ROTI AISA BWPT AALI

Lo west PER 70 69 68 67 66

BWPT MDLN BBKP LPCK APLN

S o urc e : B lo o m be rg, R e lia nc e R e s e a rc h

MISCELANEOUS INDUSTRY, MEDIAN PER=

FINANCE, MEDIAN PER=

INFRASTRUCTURE, MEDIAN PER= AGRICULTURE, MEDIAN PER=

MINING, MEDIAN PER=

CONSUMER GOODS, MEDIAN PER=

TRADING, MEDIAN PER=

PROPERTY & KONSTRUKSI MEDIAN PER=

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T. +62 361 225099

F. +62 361 245099

Solo

Jl. Slamet Riyadi 330A

Solo 57145

T. +62 271 736599

F. +62 271 733478

Tangerang

Jl. Pahlawan Seribu Ruko BSD

Sektor 7 Blok RK kav. 9

Tangerang 15310

T. +62 21 5387495

F. +62 21 5387494

Pontianak

Jl. MT Haryono No. 6

Pontianak 78121

T. +62 561 575674

F. +62 561 575670

Bandung

Jl.Cisangkuy No.58

Bandung 40115

T. +62 22 7218200

F. +62 22 7219255

Yogyakarta

Sales Representavive Office

KP BEI Yogyakarta

T. +62 550 123

F. +62

Tasikmalaya

Ruko Tasik Indah Plaza No. 21

Jl. KHZ Mustofa No. 345

Tasikmalaya 46121

T. +62 265 345000

F. +62 265 345003

Jakarta - Centro

Ruko Centro Residence Kav. 4-5

Tower C Lt. 1 No. 26-29

Jl. Macan, Daan Mogot

Jakarta 14450

T. +62 21 56945227

F. +62 21 56945226

Surabaya – Diponegoro

Jl. Bogowonto 25, Darmo

Surabaya 60261

T. +62 31 5670388

F. +62 31 5610528

Balikpapan

Ruko Bukit Damai Indah Blok I, No. 3, Rt. 34

Jl. MT. Haryono, Gunung Bahagia, Balikpapan

Selatan 76114

T. +62 542 746313

F. +62 542 746317

Makassar

Jl. Latimojong RukoLatimojong Indah 46B/16

Makassar-Sulawesi Selatan

T. +62 411 363 2388

F. +62 411 361 4634

Pekanbaru

Jl. Jenderal Sudirman No. 73 (Sudirman bawah)

Pekanbaru – Riau

T. +62 761 840 2987

F. +62 761 840 2987

Medan

Jl. Teuku Amir Hamzah No. 26

Medan 20117

T. +62 61 6638592

F. +62 61 6638023

(7)

your

reliable

partner

| 7

IDX CORNER & INVESTMENT GALLERY

STIE Malangkucecwara

Jl. Terusan Candi Kalasan

Malang 65142

T. +62 341 491813

F. +62 341 495619

Universitas Muhammadiyah Gresik

Jl. Sumatra 101 GKB

Gresik 61121

T. +62 31 3951414

F. +62 31 3952585

Universitas Surabaya

Jl. Raya Kalirungkut

Surabaya 60293

T. +62 31 2981203

F. +62 31 2981204

Universitas Muhammadiyah Malang

Jl. Raya Tlogomas 246

Malang 65144

T. +62 341 464318-9

F. +62 341 460782

Universitas Siliwangi Tasikmalaya

Jl. Siliwangi No. 24

Tasikmalaya 46151

T. +62 265 323685

F. +62 265 323534

Politeknik Kediri

Jl. Mayor Bismo No. 27

Kediri 64121

T +62 354 683128

F +62 354 683128

Universitas Negeri Malang

Jl. Surabaya No. 6

Malang 65145

T. +62 341 585914

F. +62 341 55288

Universitas Negeri Makassar

FakultasEkonomiGedung BT Lt. 2

Jl. A. P. Pettarani, Kampus UNM, Gunungsari

Baru

Makassar 90222

T. +62 411 889464, 881244

F. +62 411 887604

Universitas Muhammadiyah Pontianak

Jl. Ahmad Yani, No. 111

Pontianak 78124

T. +62 561 743465

F. +62 561 766840

STIE AAS

Jalan Slamet Riyadi No 361

Kartasura, Surakarta

T. +62 271 726156

F. +62 271 726156

Universitas Tanjungpura Pontianak

Jl. Jendral Ahmad Yani

Pontianak 78124

T. +62 561 743465

F. +62 561 766840

STIE "AUB" Surakarta

Jl. Mr. Sartono 97, Cengklik

Nusukan, Surakarta 57135

T. +62 271 854803

F. +62 271 853084

STIESIA Surabaya

Jl. MenurPumpungan 30

Surabaya

T. +62 31 5947505

F. +62 31 5932218

Universitas Muhammadiyah Sidoarjo

Jl. Majapahit 666 B

Sidoarjo, JawaTimur

T. +62 31 8945444

F. +62 31 8949333

Universitas Pesantren Tinggi Darul Ulum

Kompleks Pp Darul Ulu, Peterongan

Jombang, JawaTimur 60281

T. +62 321 873655

F. +62 321 875771

STIE Tri Bhakti

Jl. Teuku Umar No.24

Cut Meutia Setiakawan, Bekasi

T. +62 21 8242 9400, 8242 9500

F. +62 271 726156

STIKOM BALI

JL. Raya Puputan No. 86, Renon, Denpasar

Timur, kota Denpasar

Bali-80234

T. +62 361 244445

STIKOM BALI

JL. Raya Puputan No. 86, Renon, Denpasar

Timur, kota Denpasar

Bali-80234

T. +62 361 244445

Universitas 17 Agustus 1945 Banyuwangi

Jl. AdiSucipto 26

Banyuwangi, JawaTimur

T. +62 333 419163

F. +62 333 419163

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