Previous Day:
Pada penutupan perdagangan hari Rabu (27/5), IHSG turun
sebanyak 67,51 poin (1,27%) ke level 5253,39. Ada
seban-yak 85 saham yang naik, 204 saham yang mengalami
ko-reksi, dan 86 saham yang stagnan. LQ45 turun 14,83 poin
(1,60%) ke level 912,93. Sektor-sektor yang berada di zona
merah adalah sektor consumer goods turun 1,67%, sektor
perdagangan turun 1,42%, dan sektor konstruksi turun
1,37%. Total perdagangan sebanyak Rp 5,470 triliun.
For-eign net buy sebesar Rp 220,13 miliar. Indeks Nikkei naik
0,17%. Indeks Strait times melemah 0,95%. Indeks
Shang-hai melonjak 0,63%. Indeks Hang Seng jatuh 0,60%
Today’s Market:
Secara teknikal indeks hari Kamis (28/5) diperkirakan
ber-gerak melemah di kisaran level 5232-5294. Dari dalam
negeri, melemahnya nilai tukar Rupiah terhadap dollar
Amerika turut memberikan pengaruh terhadap indeks.
Top Technical
Buys
:
INDF, BBTN, ICBP, MYOR
Sinarmas Investment Research/+6221 3925550/[email protected]
UNDERVALUED STOCKS 2015:
ROTI 1,430
See important disclaimer at the end of this report
Thursday, May 28, 2015
DAILY RESEARCH
Clo s in g
J CI
Tra n s a c tio n Va lu e (Rp tn ) Tra n s a c tio n Volu me (mn s h a re s )
Fore ign Ne t Bu y (S e ll) (Rp b n ) 2 2 0.13 Fore ign Ne t Bu y (S e ll) YTD (Rp tn) 8 .83
a s p e rc e n ta g e o f la s t ye a r's (0 .82 )
Tota l Ma rke t Ca pita liza tio n (Rp tn) 4 ,98 8 .68
Clo s in g 1 Da y R e tu rn % Y TD C h a n g e % 5 ,25 3 .4 (1.27 ) 0 .5 9 12 .9 (1.60 ) 1.6 25 .9 7 (0 .35 ) (5 .4 ) 2 3 .5 (0 .30 ) (3 .3 ) 18,16 3 .0 0 .67 1.9 2 ,12 3 .5 0 .92 3 .1 5 ,10 6 .6 1.47 7 .8 7 ,03 3 .3 1.2 1 7 .1 2 0 ,47 2 .6 0.17 18 .0 2 8 ,24 9 .9 (0 .60 ) 19 .0 3 ,46 0 .0 0 .00 1.8 1,7 5 5.1 (0.5 1) (0 .4 ) FO REX C h a n g e % Y TD C h a n g e % US D/IDR (0 .23 ) (6 .0 ) EUR/IDR 0 .09 4 .7 J P Y/IDR (0 .39 ) (2 .8 ) S GD/IDR (0 .20 ) (4 .0 ) AUD/IDR (0 .70 ) (0 .6 ) GBP /IDR (0.19 ) (4 .7 ) P ric e 1 Da y R e tu rn % Y TD C h a n g e % CRUDE OIL (US D)/BARREL 5 7 .5 (0 .90 ) 8 .6 COAL (US D) / MT 5 8 .8 NA (17 .5 ) NATURAL GAS (US D) / mmBtu 2 .8 0 .89 (1.7 )
GOLD (US D) / OUNCE 1,18 8.1 0 .06 0 .2 NICKEL (US D) / MT 12 ,82 5 .0 1.18 (14 .6 ) TIN (US D) / MT 15 ,40 0 .0 (2 .38 ) (19 .6 ) CP O (MYR) / MT 2 ,16 7 .0 1.40 (6 .4 ) RUBBER (J P Y)/KG 22 3 .2 1.4 1 16 .4 WHEAT/BUS HEL 48 7 .8 (1.17 ) (17 .4 ) CORN/BUS HEL 34 9 .5 (1.55 ) (11.9 ) Ke y In d ic e s S TRAITS TIMES KLS E R a te (IDR ) 13 ,18 9 HANG S ENG DOW J ONES S &P 50 0 NAS DAQ FTS E NIKKEI Co mmo d itie s J CI LQ4 5 EIDO IDX 9,7 8 4 10 ,2 18 2 0,3 2 6 14 ,4 12 10 7 5 ,25 3 .39 5 .4 70 5 ,3 55 IDX S ta tis tic s
5,250
5,270
5,290
5,310
5,330
JCI Index
2
•
Kinerja PT Mayora Indah Tbk (MYOR) diperkirakan membaik pada kuartal II 2015. Perbaikan ini dapat
didorong oleh meningkatknya penjualan produk makanan dan minuman yang diproduksi perusahaan,
khususnya memasuki bulan suci Ramadan. Sepanjang 2014, perusahaan mencatat penurunan kinerja
keuangan. Laba perusahaan turun sebesar 59,5% meski pendapatannya naik 17,9%. Peningkatan harga
pokok produksi (HPP) sebesar 27,9% menjadi salah satu penyebab turunya kinerja keuangan perusahaan
pada tahun lalu. Sementara itu di kuartal I 2015, kinerja perusahaan mulai mengalami perbaikan. Laba
ko-tor perusahaan naik menjadi 27,4% pada kuartal I 2015 dengan kenaikan laba bersih 128,1% secara
tahu-nan. (Positive) Source: Indonesia Finance Today
•
PT Tower Bersama Infrastructure Tbk (TBIG) mengalokasikan belanja modal sebesar Rp 2,5 triliun
un-tuk pengembangan bisnis organik. Perusahaan mendapat tambahan 2.000 penyewaan (tenant) baru tahun
ini. Pada tahun ini, perusahaan akan melakukan akuisisi terhadap perusahaan menara sebagai bagian dari
strategi anorganik dan meneruskan perjanjian share swap perusahaan dengan PT Dayamitra
Telekomuni-kasi (Mitratel), anak usaha Telkom. (Positive) Source: Indonesia Finance Today
•
PT Multipolar Technology Tbk (MLPT) segera mengekspansi data center sebesar US$ 200 juta.
Perusa-haan akan membangun data center berkapasitas 2.000 m². Data Center tersebut ditargetkan beroperasi
pada kuartal I atau kuartal II 2016. Pendanaan awal proyek data center tier 4 ready tersebut sesuai dengan
kepemilikan saham perusahaan saat ini yang sebesar 65% sedangkan Mitsui & Co dan Mitsui Knowledge
Industry Co ltd (MKI) 35%. Perusahaan mengalokasikan belanja modal tahun ini sebesar 394 miliar yang
berasal dari 60% kas internal dan sisanya sumber eksternal. (Positive) Source: Investor Daily
See important disclaimer at the end of this report
CORPORATE & INDUSTRY NEWS
Thursday, May 28, 2015
3
See important disclaimer at the end of this report
TRADING VIEW
T h u rsd a y, M a y 28, 2015TRADING VIEW Thursday, May 28, 2015
These recommendations are more based on technical and just for one day trading
RESEARCH DEPARTMENT
TICKER RECOMMENDATION PRICE ENTRY EXIT S2 S1 R1 R2 EXPLANATION AGRICULTURE
AALI Buy on Weakness 26825 26550 27050 26275 26550 27050 27275 Stoc osc : uptrend BWPT Trading Buy 392 392 407 369 385 407 425 Stoc osc : uptrend LSIP Buy on Weakness 1730 1720 1750 1710 1720 1750 1770 Stoc osc : uptrend BANK & FINANCE
BMRI Trading Sell 11000 11000 10925 10850 10925 11150 11300 Gravestone doji BBRI Trading Sell 11950 11950 11825 11700 11825 12075 12200 Rsi : downtrend BBNI Trading Sell 6850 6850 6750 6650 6750 6950 7100 Black spinning top BBCA Buy on Weakness 14250 14150 14350 14050 14150 14350 14500 Rsi : downtrend CONSUMER GOODS
INDF Trading Buy 7200 7200 7300 6900 7050 7300 7400 Long white candle ICBP Trading Buy 14200 14200 14250 14000 14100 14250 14400 Rsi : reversal GGRM Buy on Weakness 45800 45500 46125 45150 45500 46125 46450 Rsi : downtrend UNVR Buy on Weakness 44500 44350 44875 44000 44350 44875 45400 Rsi : downtrend CPIN Trading Sell 3240 3240 3200 3175 3200 3265 3330 Rsi : downtrend MAIN Take profit 1830 - 1850 1800 1810 1850 1870 Macd : overbought BASIC & MISC INDUSTRY
ASII Trading Sell 7425 7425 7350 7300 7350 7550 7650 Stoc osc : downtrend SMGR Buy on Weakness 13175 13125 13250 13050 13125 13250 13350 Rsi : downtrend INTP Trading Sell 22100 22100 22000 21850 22000 22225 22350 Stoc osc : downtrend INFRASTRUCTURE
TLKM Trading Sell 2830 2830 2810 2785 2810 2850 2880 Rsi : downtrend PGAS Buy on Weakness 4300 4275 4310 4230 4275 4310 4345 Rsi : downtrend JSMR Buy on Weakness 6400 6325 6450 6250 6325 6450 6550 Stoc osc : downtrend TBIG Buy on Weakness 8800 8700 8900 8500 8700 8900 9100 White spinning top
RETAIL
MAPI Trading Sell 5600 5600 5525 5450 5525 5750 5900 Rsi : downtrend RALS Trading Sell 715 715 705 690 705 730 740 Macd : downtrend ACES Trading Sell 680 680 670 660 670 690 710 Stoc osc : downtrend MPPA Buy on Weakness 3850 3835 3865 3810 3835 3865 3880 Stoc osc : reversal MINING
PTBA Trading Sell 10275 10275 10050 9800 10050 10450 10700 Black spinning top ADRO Buy on Weakness 895 885 910 870 885 910 930 Long legged doji ITMG Buy on Weakness 14475 14350 14550 14100 14350 14550 14625 Black spinning top ANTM Trading Buy 820 820 840 785 805 840 855 Rsi : reversal TINS Buy on Weakness 875 865 880 850 865 880 910 Black spinning top UNTR Trading Sell 22100 22100 21850 21600 21850 22250 22350 Macd : downtrend PROPERTY
ASRI Trading Sell 625 625 615 605 625 635 655 Macd : downtrend LPKR Trading Sell 1300 1300 1275 1250 1275 1325 1350 Stoc osc : downtrend CTRA Buy on Weakness 1540 1520 1550 1490 1520 1550 1570 Rsi : downtrend APLN Buy on Weakness 390 380 400 370 380 400 415 Stoc osc : uptrend SMRA Buy on Weakness 1975 1950 1990 1925 1950 1990 2030 Stoc osc : uptrend SSIA Trading Sell 1150 1150 1135 1120 1135 1160 1180 Stoc osc : downtrend BSDE Buy on Weakness 1950 1925 1975 1900 1925 1975 2000 White spinning top WIKA Trading Sell 3175 3175 3165 3135 3165 3210 3250 Stoc osc : downtrend PTPP Trading Sell 4010 4010 3970 3950 3970 4030 4070 Stoc osc : downtrend ADHI Trading Sell 2655 2655 2630 2600 2630 2680 2715 Macd : downtrend
4
Global Equity Indices
See important disclaimer at the end of this report
T h u rsd a y, M a y 28, 2015
MARKET DATA
D e s c rip tio n Y TD C h a n g e % 2 8 - Ma y - 15 F o rw a rd 2 0 14 P / E R a tio (B e s t Es t. )
LQ 4 5 1.6 9 13 Nikke i 2 2 5 17 .9 2 0 ,5 8 1 J CI 0 .5 5 ,2 5 3 FTS E 10 0 7 .1 7 ,0 3 3 AS X 2 0 0 5 .5 5 ,7 0 8 DJ IA 1.9 18 ,16 3 S &P 5 0 0 3 .1 2 ,12 3 S TI 1.8 3 ,4 2 5 CAC 4 0 2 1.3 5 ,18 3 S h a n g h a i Co mp o s ite 5 2 .8 4 ,9 4 2 DAX 2 0 .0 11,7 7 1 KO S P I 10 .5 2 ,117 Ha n g S e n g 19 .0 2 8 ,0 8 1 Eu ro S to xx 17 .0 3 ,6 8 3
D e s c rip tio n Y TD C h a n g e % 2 8 - Ma y - 15 D e s c rip tio n Y TD C h a n g e % 2 8 - Ma y - 15
AALI 10 .6 2 6 ,8 2 5 J S MR (9 .2 ) 6 ,4 0 0 ADHI (2 3 .7 ) 2 ,6 5 5 KLBF (4 .9 ) 1,7 4 0 ADRO (13 .9 ) 8 9 5 LP KR 2 7 .5 1,3 0 0 AKRA 3 2 .9 5 ,4 7 5 LP P F 16 .7 17 ,5 0 0 ANTM (2 3 .0 ) 8 2 0 LS IP (8 .5 ) 1,7 3 0 AS II 0 .0 7 ,4 2 5 MNCN (14 .4 ) 2 ,17 5 AS RI 11.6 6 2 5 MP P A 2 6 .2 3 ,8 5 0 BBCA 8 .6 14 ,2 5 0 P G AS (2 8 .3 ) 4 ,3 0 0 BBNI 12 .3 6 ,8 5 0 P TBA (17 .8 ) 10 ,2 7 5 BBRI 2 .6 11,9 5 0 P TP P 12 .2 4 ,0 10 BBTN 2 .5 1,2 3 5 P WO N (13 .0 ) 4 4 8 BMRI 2 .1 11,0 0 0 S CMA (15 .7 ) 2 ,9 5 0 BMTR (8 .4 ) 1,3 0 5 S ILO 5 .1 14 ,4 0 0 BS DE 8 .0 1,9 5 0 S MG R (18 .7 ) 13 ,17 5 CP IN (14 .3 ) 3 ,2 4 0 S MRA 2 9 .9 1,9 7 5 CTRA 2 3 .2 1,5 4 0 S S MS 4 1.7 2 ,3 6 0 EXCL (15 .7 ) 4 ,10 0 TBIG (9 .3 ) 8 ,8 0 0 G G RM (2 4 .5 ) 4 5 ,8 0 0 TLKM (0 .7 ) 2 ,8 3 0 ICBP 8 .4 14 ,2 0 0 UNTR 2 7 .4 2 2 ,10 0 INCO (9 .8 ) 3 ,2 7 0 UNVR 3 7 .8 4 4 ,5 0 0 INDF 6 .7 7 ,2 0 0 WIKA (13 .7 ) 3 ,17 5 INTP (11.6 ) 2 2 ,10 0 WS KT 18 .0 1,7 3 5 ITMG (5 .9 ) 14 ,4 7 5
Sectors
D e s c rip tio n J AKP RO P INDEX
P ro p e rty (1.6 )
JAKBIND INDEX
Ba s ic In d u s try 2 .1
JAKMANU INDEX
Tra d e (0 .3 )
JAKFIN INDEX
Fin a n c e 0 .7
JAKCONS INDEX
Mis c e lla n e o u s In d u s try (2 .0 )
JAKMIND INDEX
Co n s u me r 1.0
JAKINFR INDEX
In fra s tru c tu re (0 .8 )
JAKAGRI INDEX
Ag ric u ltu re 15 .7
JAKMINE INDEX
Min in g 0 .9
1- m th R e tu rn %
Selected Indonesian Equities
16 .6 19 .7 16 .4 16 .9 16 .7 16 .2 18 .0 14 .2 16 .7 19 .7 14 .8 12 .4 13 .5 15 .9
5
Economic Indicators
See important disclaimer at the end of this report
G lo b a l Re fe re n c e Ra te s FO REX Ra te (US D) Ch a n g e % FED Ra te 0 .2 5 US DIDR 13 ,19 0 (0 .0 1) BI Ra te 7 .5 0 US DEUR 0 .9 2 (0 .0 8 ) ECB Ra te 0 .0 5 US DJ P Y 12 4 (0 .0 2 ) BOJ Ra te 0 .10 US DS GD 1.3 5 0 .0 5 BOE Ra te 0 .5 0 US DAUD 1.2 9 (0 .2 7 ) P BOC Ra te 5 .10 US DGBP 0 .6 5 0 .0 0 De s c rip tio n Ap r- 15 Ma r- 15
In fla tio n YTD (%) (0 .0 8 ) (0 .4 4 ) 7 .9 0
In fla tio n YOY (%) 6 .7 9 6 .3 8 1.0 0 In fla tio n MOM (%) 0 .3 6 0 .17 1.4 6 Fo re ig n Re s e rve s (US D b n ) 110 .8 7 111.5 5 8 .0 4 GDP Gro wth Ra te (%) (2 .0 6 ) 8 .15
GDP An n u a l Gro wth Ra te (%) 5 .0 1 8 .3 6 Du a l Lis te d P ric e (IDR) Ch a n g e %
TLKM (US ) 2 ,7 0 3 .9 5 0 .0 0 ANTM (GR) 7 19 .6 6 8 .7 0 % Le n d in g & De p o s it Ra te s INDOGB 15 Y YIELD (%) J IBOR (IDR) (%) LIBOR (GBP ) (%) S IBOR (US D) (%) INDOGB 5 Y YIELD (%) INDOGB 10 Y YIELD (%) INDICATOR 2014
APBNP APBN APBN-P
GDP Growth (%, YoY) 5,5 5,8 5,7
Inflation (%, YoY) 5,3 4,4 5,0
Exchange rate (USD/IDR) 11.600 11.900 12.500
3 Months SPN (%) 6.0 6.0 6.2
Indonesian Crude Oil (USD/barrel) 105 105 60
Oil Lifting ( thousands barrel/day) 818 900 825
Gas Lifting (thousands, BOE/day) 1.224 1.248 1.221
Total State Budget (in IDR trillion) 1,635 1,793 1,761
2015
T h u rsd a y, M a y 28, 2015
MARKET DATA & CORPORATE INFO
State Budget
Rights Issue
Ticker Ratio Price (Rp) Cum Date EX Date Trading
INPP 100:337 325 28 May 29 May 5 June-18 June 2015
AHAP 25:17 150 12 June 13 June 18 June-24 June 2015
TOTO 24:1 3600 17 June 18 June 14 June-1 July 2015
WSKT 100:32-41.1 1300-1650 17 June 18 June 24 June– 1 July 2015
CENT TBA 100-190 19 June 22 June 26 june— 3 July 2015
AGRO 4:3 100 19 June 25 June 2 July — 8 July 2015
ADHI 100000:761
90
6
http://www.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 judgment from sources deemed reliable, however, PT Sinarmas Sekuritas and its affiliated cannot guarantee its accuracy and completeness. PT Sinarmas Sekuritas 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 and are subject to change without no-tice. For further information please contact our number +62 21 392 5550 or fax +62 21 392 2320.
RESEARCH TEAM
ANALYST James Wahjudi Coal and Mining
T: +62 21 3925550 Ext: 611
JUNIOR ANALYST Wilbert
Consumer goods and Retail T: +62 21 3925550 Ext: 610 [email protected]
ANALYST Evan Hadiwidjaja Banking and Cement T: +62 21 3925550 Ext: 610 [email protected] TECHNICAL ANALYST Eddy Wijaya T: +62 21 3925550 Ext: 159 [email protected] T h u rsd a y, M a y 28, 2015
Dividend
Upcoming IPO
Company Business IPO Price
(Rp)
Issued Shares (Mn)
Offering Date Listing Underwriter
Puradelta Lestari Property & Real Estate
210-350 10,844.58 21-25 May 2015 29 May 2015 Sinarmas Sekuritas, CLSA, Macquaries Capital Mega Manunggal
Property
Property & Real Estate
500-600 1714.28 4-8 June 2015 12 June 2015 Indo Premier Securities Merdeka Copper
Gold
Mining & Energy
1800-2100 874.36 2-10 June 2015 12 June 2015 Indo Premier Securities, Bahana Securities
Stock DPS (Rp) Status Cum Date (2015) Ex Date (2015) Recording Payment
ICBP 222 CASH 18 May 19 May 21 May 9 June
INDF 220 CASH 18 May 19 May 21 May 11 June
MICE 10 CASH 18 May 19 May 21 May 11 June
MKPI 223.70 CASH 27 May 28 May 1 June 5 June
SDRA 5 CASH 20 May 21 May 25 May 12 June
SIDO 24 CASH 21 May 22 May 26 May 12 June
LTLS 17 CASH 21 May 22 May 26 May 12 June
MPPA 36.06 CASH 21 May 22 May 26 May 17 June
TOTO 70 CASH 21 May 22 May 26 May 17 June
MTDL 35:1 CASH 29 June 30 June 2 July 22 July
