Previous Day:
Pada penutupan perdagangan hari Kamis (19/02), IHSG naik sebanyak 5,57 poin (0,12%) ke level 4598,22. Ada sebanyak 111 saham yang naik, 183 saham yang mengalami koreksi, dan 72 saham yang stagnan. Total perdagangan hari ini seban-yak Rp 7,326 triliun. LQ45 naik 2,87 poin (0,37%) ke level 776,41. Sektor-sektor di zona hijau adalah sektor keuangan naik 0,92%, sektor infrastruktur naik 0,22%, dan sektor perdagangan naik 0,15%. Sektor-sektor di zona merah adalah sektor konstruksi turun 1,36%, sektor aneka industri turun 0,87%, dan sektor manufaktur turun 0,18%. Foreign net buy sebesar Rp 998 miliar. Indeks Nikkei terpangkas 2,15%. Indeks Straits Times menipis 0,07%. Indeks Hang Seng anjlok 1,19%. Indeks Shanghai jatuh 0,18%.
Today’s Market:
Secara teknikal indeks hari Jumat (21/02), prediksi indeks diperkirakan akan bergerak mixed di level 4580-4630. Perda-gangan pada hari ini akan dipengaruhi oleh data inflasi AS yang naik sebesar 0,1% mom, data flash manufacturing PMI di level 56,7 (estimasi 53,7) dan data initial jobless claims yang turun dari 339 ribu menjadi 336 ribu (estimasi 335 ribu). Se-mentara itu, data consumer confidence Euro Area yang di level -13 (estimasi -11,3) akan turut memberikan sentiment terha-dap indeks.
Top Technical Buys:
HRUM, KLBF, ADRO, SMGR
Sinarmas Investment Research/ 62 21 3925550/research@sinarmassekuritas.co.id
DAILY RESEARCH
UNDERVALUED STOCKS 2014: MYOR 34,600 ROTI 1,330 BBRI 9,550 JCI Transaction Value (Rp tn) Transaction Volume (mn shares)
Foreign Net Buy (Sell) (Rp bn) 998.13 Foreign Net Buy (Sell) YTD (Rp tn) 8.40 as percentage of last year's (0.49) Total Market Capitalization (Rp tn) 4,255.59
Closing 1 Day Return % YTD Change % 4,598.22 0.12 7.6 776.41 0.37 9.2 25.58 1.67 12.0 23.24 1.80 9.3 16,133.23 0.58 (2.7) 1,839.78 0.60 (0.5) 4,267.55 0.70 2.2 6,812.99 0.24 0.9 14,449.18 (0.52) (9.6) 22,664.52 (1.19) (3.9) 3,088.79 0.54 (2.6) 1,827.81 (0.09) (2.1) FOREX Change YTD Change % USD/IDR 47.50 2.9 EUR/IDR (1.23) 3.5 JPY/IDR 0.91 (0.3) SGD/IDR 4.56 3.0 AUD/IDR (16.70) 2.3 GBP/IDR (2.44) 2.2 Price 1 Day Return % YTD Change % CRUDE OIL (USD)/BARREL 102.82 0.07 4.5 COAL (USD) / MT 78.30 (0.89) (4.2) NATURAL GAS (USD) / mmBtu 6.14 1.19 45.1
GOLD (USD) / OUNCE 1,320.12 (0.21) 9.5 NICKEL (USD) / MT 14,365.00 (1.03) 3.3 TIN (USD) / MT 23,095.00 (0.43) 3.3 CPO (MYR) / MT 2,765.00 0.00 5.2 RUBBER (JPY)/KG 220.00 0.00 (21.4) WHEAT/BUSHEL 6.16 (0.64) 1.8 CORN/BUSHEL 4.56 0.44 8.0 4,598.22 7.060 5,308 Commodities JCI LQ45 EIDO IDX 9,340.45 10,611.73 19,685.38 Key Indices STRAITS TIMES KLSE Rate (IDR) 11,825.00 16,187.56 116.12 HANG SENG DOW JONES S&P 500 NASDAQ FTSE NIKKEI
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2
CORPORATE NEWS
Frid a y, Febru a ry 21, 2014•
PT Wijaya Karya Tbk (WIKA) meraih 2 kontrak baru senilai US$ 157 juta dari pertamina. Perusahaan menargetkan sepanjang 2014 memperoleh total kontrak baru sebesar Rp 25,83 triliun. Kontrak baru terse-but yakni pengembangan terminal bahan bakar minyak (BBM) di Pulau Sambu, dan upgrading fasilitas pen-imbunan gasoline di Tanjung Uban. (Positive) Source: Indonesia Finance Today•
PT Jasa Marga Tbk (JSMR) menargetkan pendapatan senilai Rp 450 miliar dari anak usaha tol. Penda-patan tol ini berasal dari anak usaha yang terus meningkat dalam kurun waktu satu tahun terakhir dengan rata-rata 50%. Pendapatan tol anak usaha pada 2012 senilai Rp 82 miliar yang kemudian naik menjadi Rp 123 miliar pada 2013, serta ditargetkan akan naik menjadi Rp 450 miliar pada tahun ini. (Positive) Source: Indonesia Finance Today•
PT Lippo Cikarang Tbk (LPCK) tahun ini akan memasarkan tower ketiga di proyek Trivium Terrace Apar-temen di Lippo Cikarang, Bekasi, Jawa Barat. Tower ini merupakan yang terakhir setelah sebelumnya telah meluncurkan 2 tower apartemen sejak 2012. (Positive) Source: Indonesia Finance Today•
PT Eurreka Prima Jakarta Tbk (LCGP) akan mempercepat pembangunan megaproyek kota mandiri (township) di Jakarta Timur pada April 2014 dari rencana sebelumnya pada semester II-2014. Selain itu, perusahaan telah mengakuisisi tanah sebesar Rp 800 miliar seluas 24 hectare (ha) dan rencananya megaproyek ini akan berlangsung selama 8-10 tahun ke depan. (Positive) Source: Investor Daily•
PT Semen Baturaja Tbk (SMBR) membukukan kenaikan laba bersih sebesar 4,57% menjadi Rp 312,18 miliar sepanjang 2013 dibandingkan periode sebelumnya Rp 298,51 miliar. Peningkatan ini ditopang oleh kenaikan pendapatan keuangan sebesar Rp 71,28 miliar dari sebelumnya tahun 2012 sebesar Rp 28,34 miliar. Sedangkan pendapatan perusahaan naik tipis dari Rp 1,09 triliun menjadi Rp 1,17 triliun hingga kahir 2013. (Positive) Source: Investor Daily3
Eddy Wijaya/ Technical Analyst/62 21 3925550
TRADING VIEW
See important disclaimer at the end of this report
Frid a y, Febru a ry 21, 2014
By: Rheza, Tie sha, R icha rdRESEARCH DEPARTMENT By: Eddy Wijaya (+6221-3925550)
TICKER RECOMMENDATION PRICE ENTRY EXIT S2 S1 R1 R2 EXPLANATION AGRICULTURE
AALI Buy on Weakness 23750 23625 23850 23575 23625 23850 24050 Rsi : downtrend BWPT Buy on Weakness 1330 1310 1350 1290 1310 1350 1370 Rsi : downtrend LSIP Buy on Weakness 1990 1960 2020 1940 1960 2020 2050 Black spinning top BANK & FINANCE
BMRI Buy on Weakness 9225 9125 9300 9050 9125 9300 9375 Rsi : reversal BBRI Take profit 9550 - 9650 9400 9550 9650 9800 Stoc osc :overbought BBNI Buy on Weakness 4500 4480 4530 4450 4480 4530 4570 Rsi : uptrend BBCA Buy on Weakness 10400 10300 10550 10150 10300 10550 10650 Rsi : reversal CONSUMER GOODS
INDF Buy on Weakness 7000 6950 7100 6875 6950 7100 7250 Rsi : neutral ICBP Buy on Weakness 10775 10700 10850 10600 10700 10850 10950 Macd : downtrend GGRM Buyon Weakness 46600 46350 46750 46100 46350 46750 47100 Stoc osc : uptrend UNVR Buy on Weakness 28300 28100 28450 27900 28100 28450 28600 Stoc osc : downtrend CPIN Buy on Weakness 3995 3980 4010 3965 3980 4010 4025 Macd : neutral MAIN Buy on Weakness 3390 3360 3410 3330 3360 3410 3430 White spinning top BASIC & MISC INDUSTRY
ASII Buy on Weakness 6900 6850 6950 6700 6850 6950 7100 White spinning top SMGR Buy on Weakness 15100 15000 15150 14900 15000 15150 15300 Rsi : reversal INTP Trading Buy 22650 22650 22750 22350 22500 22750 22850 Rsi : uptrend INFRASTRUCTURE
TLKM Trading Buy 2360 2360 2380 2300 2330 2380 2410 Rsi : uptrend PGAS Take profit 5050 - 5150 4980 5000 5150 5250 Dragonfly doji JSMR Trading Sell 5325 5325 5250 5150 5250 5400 5500 Rsi : downtrend TBIG Trading Buy 6200 6200 6300 6000 6100 6300 6400 Hammer
RETAIL
MAPI Take profit 6875 - 6925 6650 6750 6925 7000 Rsi : uptrend RALS Trading Sell 1350 1350 1340 1330 1340 1360 1375 Macd : downtrend ACES Buy on Weakness 850 830 870 810 830 870 900 Black spinning top MPPA Buy on Weakness 2180 2160 2190 2130 2160 2190 2210 Rsi : uptrend MINING
PTBA Buy on Weakness 9300 9200 9350 9100 9200 9350 9450 Stoc osc : uptrend ADRO Trading Buy 975 975 985 940 960 985 1000 Rsi : uptrend ITMG Buy on Weakness 26975 26650 27125 26325 26650 27125 27325 Inverted hammer ANTM Trading Sell 1045 1045 1035 1025 1035 1060 1075 Rsi : downtrend TINS Trading Sell 1460 1460 1435 1410 1435 1490 1520 Stoc osc : downtrend UNTR Trading Buy 18650 18650 18750 18400 18550 18750 18900 Macd : uptrend PROPERTY
ASRI Trading Sell 565 565 550 540 550 580 600 Stoc osc : downtrend LPKR Buy on Weakness 930 920 940 910 920 940 960 Stoc osc : downtrend CTRA Trading Sell 985 985 975 960 975 1000 1020 Rsi : downtrend APLN Trading Sell 230 230 227 224 227 234 239 Three black candle SMRA Trading Sell 985 985 965 950 965 1015 1035 Black spinning top SSIA Buy on Weakness 815 805 830 785 805 830 850 Rsi : downtrend BSDE Buy on Weakness 1555 1540 1570 1525 1540 1570 1590 White spinning top WIKA Trading Sell 1940 1940 1925 1910 1925 1950 1970 Macd : downtrend PTPP Trading Sell 1370 1370 1350 1335 1350 1390 1420 Stoc osc : downtrend ADHI Trading Sell 2180 2180 2160 2140 2160 2200 2220 Rsi : downtrend
4
Global Equity Indices
Description YTD Change % 21-Feb-14 Forward 2014 P/E Ratio (Best Est.)
LQ45 9.2 776 Nikkei 225 (9.6) 14,728 JCI 7.6 4,598 FTSE 100 0.9 6,813 ASX 200 1.7 5,442 DJIA (2.7) 16,133 S&P500 (0.5) 1,840 STI (2.6) 3,087 CAC 40 1.4 4,355 Shanghai Composite 1.1 2,139 DAX 0.7 9,619 KOSPI (3.1) 1,950 Hang Seng (3.9) 22,394 Euro Stoxx 0.4 3,122
Description YTD Change % 21-Feb-14 Description YTD Change % 21-Feb-14
AALI (5.4) 23,750 ICBP 5.6 10,775 ADRO (10.6) 975 IMAS 4.6 5,125 AKRA 3.7 4,535 INCO (1.9) 2,600 ANTM (4.1) 1,045 INDF 6.1 7,000 ASII 1.5 6,900 INDY (3.4) 570 ASRI 31.4 565 INTP 13.3 22,650 BBCA 8.3 10,400 ITMG (5.4) 26,975 BBNI 13.9 4,500 JSMR 12.7 5,325 BBRI 31.7 9,550 KLBF 15.2 1,440 BBTN 27.0 1,105 LPKR 2.2 930 BDMN 15.5 4,360 LSIP 3.1 1,990 BHIT (5.6) 321 MAIN 6.8 3,390 BKSL 5.7 166 MAPI 25.0 6,875 BMRI 17.5 9,225 MNCN (5.9) 2,470 BMTR 10.5 2,100 PGAS 12.8 5,050 BSDE 20.5 1,555 PTBA (8.8) 9,300 BUMI 7.7 323 SMCB (0.2) 2,270 BWPT 0.0 1,330 SMGR 6.7 15,100 CPIN 18.4 3,995 SSIA 45.5 815 EXCL (14.0) 4,470 TLKM 9.8 2,360 GGRM 11.0 46,600 UNTR (1.8) 18,650 GIAA (3.2) 484 UNVR 8.8 28,300
HRUM (10.9) 2,450 JAKPROP INDEXJAKBIND INDEX
Sectors JAKFIN INDEX
Description JAKCONS INDEX
Property 3.0 JAKMIND INDEX
Basic Industry 1.5 JAKINFR INDEX
Trade 2.0 JAKAGRI INDEX
Finance 6.1 JAKMINE INDEX
Miscellaneous Industry 2.1 Consumer 2.1 Infrastructure 3.6 Agriculture 6.1 Mining (0.7) 1-mth Return %
Selected Indonesian Equities
14.2 19.0 14.4 13.7 15.2 14.5 15.6 13.7 13.5 8.4 13.4 8.9 9.9 13.2
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5
Dividen
Stock Split
Upcoming IPO
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Ticker OS:NS Ticker OS:NS
MAPI 1:10
Company Business Offering
Date
Share in Rp.
Price Listing Date
PT Bali Towerindo Sentra Infrastruktur
PT Bank Muamalat indonesia Perbankan 550-975
PT Bank Panin Syariah Perbankan 100
PT Indosmelt Transportasi
PT Puradelta Lestari Properti 205-255
PT Wika Beton Konstruksi
PT Bank Ina Perdana Perbankan 240
PT Eka Sari Lorena Transport Transportasi
PT Intermedia Capital Media
Ticker Status DPS (Rp) Cum Date Ex Date Recording Payment
Ticker NS:OS Price (Rp) Cum Date Ex Date Recording Trading
Right Issue
6
Global Reference Rates FOREX Rate (USD) Change %
FED Rate 0.25 USDIDR 11,825 (0.40)
BI Rate 7.50 USDEUR 0.73 0.01
ECB Rate 0.25 USDJPY 102 (0.19)
BOJ Rate 0.10 USDSGD 1.26 (0.01)
BOE Rate 0.50 USDAUD 1.11 0.05
PBOC Rate 6.00 USDGBP 0.60 (0.07)
Description January December
Inflation YTD (%) 8.38 8.38 8.40
Inflation YOY (%) 8.22 8.38 0.89
Inflation MOM (%) 1.07 0.55 1.46
Foreign Reserves (USD bn) 10.06 7.93
GDP YOY Growth Rate Q42013 (%) 5.72 8.35
GDP Growth Rate 2013 (%) 5.78 8.90
GDP YOY (USD bn) 878.04
Dual Listed Price (IDR) Change %
TLKM (US) 2,365.00 0.00 ANTM (GR) 875.93 (3.57)
%
Lending & Deposit Rates
INDOGB 15Y YIELD (%) JIBOR (IDR) (%) LIBOR (GBP) (%) SIBOR (USD) (%) INDOGB 5Y YIELD (%) INDOGB 10Y YIELD (%)
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MACRO INDICATORS RAPBN 2014 APBN-P 2013 APBN 2013
GDP (%) 5.8-6.1 6.3 6.8
Inflation (%) 4.5-5.5 7.2 4.9
IDR/USD (IDR) 10,000-10,500 9,600 9,300
SBI—3 Months (%) 5.5 5.0 5.0
Crude Oil (USD/brl) 106 108 100
Oil Production (bpd) 870,000 840,000 900,000
Total APBN (IDR tn) 1,240 1,726 1,683
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.
