Riset Saham Harian
Samuel Research
08 Februari 2018
www.samuel.co.id
Page 1 of 6
Kekhawatiran pasar global masih belum berbalik arah
Setelah sempat mengalami penguatan, Indeks ditutup melemah ditengah
kenaikan 10YR treasury yield. Kekhawatiran angka inflasi yang lebih tinggi
serta beberapa strategy yang digunakan oleh hedge fund dalam kondisi
market swing juga menjadi indikator lain penekan indeks. Selain data
continuing dan jobless claims, pasar juga tengah menantikan data inflasi,
penjualan ritel dan inventori bisnis yang dijadwalkan rilis pekan depan.
Dari pasar Eropa, indeks menguat sedangkan pasar komoditas baik harga
emas maupun harga minyak dunia bergerak melemah. Sementara itu, pagi
ini indeks di wilayah APAC dibuka dan beregrak mixed, dengan kenaikan
tercatat pada beberapa indeks acuan seperti Nikkei dan Kospi.
Dari pasar dalam negeri, fluktuasi IHSG di perdagangan 02/07/18 berujung
pada teritori positif. Minggu depan, beberapa data penting akan terbit, antara
lain : penjualan 4W dan 2W, data ekspor impor serta BI 7D RR rate. Nilai
tukar rupiah menguat tipis menjadi Rp13.553 dari Rp13.555 di hari
sebelumnya, sedangkan pasar EIDO melemah.
Highlights
BMRI: Akan write off di tahun ini
ENRG: Akan Masuk Bisnis Petrokimia
PADI: Batal mengakuisisi Bank Muamalat
WSKT: Suntik WTR Rp1.2tn
MDRN: Melunasi hutang dengan menjual asset
: 6,534.9 : +56.3 (+0.9%) : 4,050 Mn shrs : 5,327 Bn rupiah Last Close +/- % BBNI 9,550 475 5.2 HMSP 4,930 70 1.4 UNVR 54,675 775 1.4 BMRI 8,125 100 1.2 TPIA 5,925 -175 -2.9 BSIM 750 -50 -6.3 RMBA 320 -20 -5.9 PGAS 2,370 -30 -1.3Foreign Net Buy / Sell
Net Buy (Rpbn) Net Sell (Rpbn)
BBNI 61 BBCA 355 ADRO 39 BBRI 168 INDF 37 ASII 89 INDY 34 UNTR 47 WSKT 32 UNVR 42 Money Market Last Close +/- % USD/IDR 13,553 -2.0 0.0 JIBOR O/N 3.9 0.0 -Infl (MoM) 0.6 -
-Dual Listing Securities
Last Close +/- % TLKM 29.2 -0.3 -1.1 ISAT 52.1 -0.4 -0.8 EIDO 28.9 -0.5 -1.8 World Indices Last Close +/- % DJIA 24,893 -19 -0.1 S&P 500 2,682 -13 -0.5 Euro Stoxx 3,455 60 1.8 MSCI World 2,101 2 0.1 Nikkei 21,844 198 0.9 Hang Seng 30,323 -272 -0.9 Commodities Last Close +/- % Brent Oil 66 -1.3 -2.0 CPO Malay 2,489 16.0 0.6 Coal Newc 100 -0.4 -0.4 Nickel 13,146 -211.5 -1.6 Tin 21,705 -150.0 -0.7 Changes Changes Changes Changes Lagging Movers Market Value Changes Leading Movers
Market Activity
Thursday, 08 Feb 2018 Market Index Index Movement Market VolumeRiset Saham Harian
08 Februari 2018
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BMRI: Akan write off di tahun ini
BMRI berencana melakukan write off hingga Rp 10-15 triliun di tahun ini, lebih tinggi dari Rp 11,7
di tahun lalu. NPL gross diperkirakan bisa turun ke 2,6-2,8% di tahun ini setelah write off tersebut.
Saat ini NPL gross tercatat 3,5%.
BMRI tengah genjar mengurusi kredit macet, termasuk membawa debitur-debitur nakal ke ranah
hukum. (Kontan) BMRI: Hold.
ENRG: Akan Masuk Bisnis Petrokimia
PT Energi Mega Persada Tbk (ENRG) berencana masuk ke bisnis petrokimia. ENRG telah
meneken memorandum of agreement pendirian fasilitas pabrik yang memproduksi purified
terephthatic acid (PTA) dengan Reignwood International Investment Group. PTA merupakan
komponen utama pembuatan poliester. Kapasitas pabrik diperkirakan sebesar 1,6 juta ton per
tahun.
Nilai investasi awal proyek tersebut diperkirakan US$ 600 juta. Nilai itu sudah men- cakup
keperluan tanah, insta-lasi, pekerjaan sipil, pekerjaan listrik dan mekanik dan biaya lain sampai
tuntas.Dengan masuk ke bisnis petrokimia, ENRG berharap kinerja keuangan perusahan lebih
stabil.(Kontan) ENRG: Non-Coverage
PADI: Batal mengakuisisi Bank Muamalat
Diberitakan bahwa PADI batal mengakuisisi Bank Muamalat karena perjanjian jual beli bersyarat
telah berakhir akibat banyaknya syarat yang wajib dipenuhi sehingga prosesnya berjalan lambat.
PADI tetap akan menggelar rights issue seperti direncanakan sebelumnya, namun dananya akan
dipakai untuk membeli perusahaan lain. (Kontan) PADI: Non-Coverage.
WSKT: Suntik WTR Rp1.2tn
PT Waskita Karya (Persero), Tbk (WSKT) berencana memberikan dana sekitar 35% dari hasil
emisi obligasi kepada anak perusahaan PT Waskita Toll Road (WTR), atau setara sekitar Rp1.2tn.
Dana tersebut akan digunakan untuk membangun salah satu ruas proyek tol perseroan.
Sisa dana sekitar 65% rencananaya akan digunakan WSKT untuk modal kerja. Adapun penerbitan
obligasi berkelanjutan III, tahao II tahun ini senilai Rp3.45tn akan dilakukan pada 26 Februari
2018. (Bisnis Indonesia). WSKT. Buy 15.4x P/E18E dan 2.1x PBV 18E).
MDRN: Melunasi hutang dengan menjual asset
PT Modern Internasional Tbk. (MDRN) akan menjual lebih dari 50% aset perusahaan untuk
membayar kewajiban utang kepada bank dan pihak
– pihak lainnya. Langkah tersebut telah
mendapat persetujuan pemegang saham dalam RUPSLB Rabu 7 Februari lalu. Manajemen
berniat untuk merestrukturisasi pinjaman, termasuk mengurangi hutang dan bunga terutama yang
memiliki tenor di atas 5 tahun. Sebelumnya, MDRN telah menjual 7,17 juta saham PT Fresh Food
Indonesia pada 19 Desember 2017. (Bisnis Indonesia) MDRN: Non-coverage.
Riset Saham Harian
08 Februari 2018
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Page 3 of 6
Stock Rec. JCI Wgt Last price 1D Chg YTD Chg TP Cons TP SSI Upside PE PE PBV PBV ROE ROE
(%) (Rp) (%) (%) (Rp) (Rp) (%) 17E 18E 17E 18E 17E 18E
Banks BMRI BUY * 5.2 8125 1.2 1.6 8322 7900 -2.8 19.0 15.8 2.2 1.9 11.4% 11.9% BBCA HOLD 7.9 23500 (0.1) 7.3 22346 21300 -9.4 25.2 22.4 4.4 3.8 17.6% 17.0% BBRI HOLD 6.2 3700 0.5 1.6 3910 3560 -3.8 16.5 13.8 2.7 2.4 16.7% 17.3% BBNI HOLD 2.4 9550 5.2 (3.5) 9628 9000 -5.8 13.5 11.6 1.8 1.6 13.6% 14.0% BBTN HOLD 0.5 3600 0.0 0.8 3713 3300 -8.3 12.9 10.9 1.8 1.6 13.7% 14.3% BNLI BUY 0.2 630 0.0 0.8 803 890 41.3 17.0 17.5 0.8 0.8 4.8% 4.4% Average 17.3 15.3 2.3 2.0 12.9% 13.2% Consumer (Staples) ICBP BUY 1.4 8825 0.9 (0.8) 9689 10200 15.6 26.2 24.2 5.2 4.7 19.9% 19.3% INDF BUY 1.0 7925 3.6 3.9 9476 9900 24.9 15.6 14.2 2.2 2.0 14.2% 14.4% KLBF BUY 1.1 1680 2.4 (0.6) 1701 1900 13.1 32.3 28.5 5.9 5.3 18.4% 18.5% ROTI BUY 0.1 1245 0.8 (2.4) 1378 1590 27.7 33.3 18.8 4.1 3.4 12.2% 18.3% UNVR HOLD 5.7 54675 1.4 (2.2) 52690 49900 -8.7 58.9 53.7 77.3 68.6 131.3% 127.7% SIDO HOLD 0.1 655 0.0 20.2 675 550 -16.0 20.0 19.1 3.4 3.3 17.1% 17.1% AISA BUY 0.0 472 (3.7) (0.8) 800 700 48.3 2.1 4.2 0.3 0.3 15.6% 7.2% Average 26.9 23.2 14.1 12.5 32.7% 31.8% Cigarette HMSP BUY * 7.9 4930 1.4 4.2 4472 4390 -11.0 44.3 42.9 15.2 13.9 34.3% 32.4% GGRM BUY 2.2 83250 0.8 (0.7) 89781 83700 0.5 22.8 21.4 3.6 3.2 15.6% 14.8% Average 33.6 32.1 9.4 8.5 25.0% 23.6% Healthcare MIKA BUY 0.4 1925 (0.8) 6.4 2222 2950 53.2 36.0 32.5 7.0 6.3 19.4% 19.4% SILO HOLD 0.2 8700 (1.7) (9.1) 11308 10700 23.0 107.6 88.0 3.5 3.3 3.3% 3.7% Average 71.8 60.3 5.2 4.8 11.3% 11.6% Poultry CPIN HOLD 0.7 3290 3.8 9.7 3187 3380 2.7 18.8 14.2 3.3 2.8 17.6% 20.0% JPFA BUY 0.2 1490 (0.3) 14.6 1644 1600 7.4 12.8 12.1 1.7 1.5 13.0% 12.4% MAIN BUY 0.0 660 (2.2) (10.8) 959 1200 81.8 3.9 3.1 0.6 0.5 14.6% 16.2% Average 11.9 9.8 1.9 1.6 15.1% 16.2% Retail MAPI BUY 0.2 7250 2.5 16.9 8244 8000 10.3 48.7 23.8 3.4 3.0 7.1% 12.7% RALS BUY 0.1 1160 (0.9) (3.3) 1289 1500 29.3 19.5 15.9 2.2 2.0 11.1% 12.7% ACES BUY 0.3 1330 2.3 15.2 1386 1600 20.3 30.3 25.6 6.8 5.7 22.4% 22.4% LPPF BUY 0.4 10400 4.0 4.0 12546 11500 10.6 13.9 13.5 8.9 6.7 64.5% 49.8% Average 28.1 19.7 5.3 4.4 26.3% 24.4% Media MNCN BUY 0.3 1550 0.0 20.6 1842 2000 29.0 11.4 10.2 2.2 2.0 19.3% 19.3% SCMA BUY 0.6 2800 1.4 12.9 2689 2900 3.6 25.9 22.8 10.0 8.3 38.4% 36.3% Average 18.7 16.5 6.1 5.1 28.9% 27.8% Telco EXCL BUY 0.4 2960 2.1 0.0 4062 3200 8.1 92.5 39.5 1.5 1.4 1.6% 3.6% ISAT BUY 0.4 5450 0.5 13.5 7508 8200 50.5 16.4 11.1 2.0 1.8 12.4% 16.3% TLKM BUY 5.5 3980 1.0 (10.4) 4820 5000 25.6 17.0 15.0 4.3 3.9 25.1% 25.9% TOWR BUY 0.5 3680 1.1 (8.0) 4938 4500 22.3 14.0 12.7 2.9 2.6 20.9% 20.2% Average 35.0 19.5 2.7 2.4 15.0% 16.5% Auto and HE ASII BUY 4.7 8450 0.3 1.8 9146 9400 11.2 14.7 13.0 2.7 2.2 18.6% 16.6% UNTR BUY 2.0 38500 2.1 8.8 39110 41500 7.8 20.6 20.4 3.2 2.9 15.5% 14.2% Average 17.6 16.7 3.0 2.5 17.1% 15.4% Aviation GIAA HOLD 0.1 308 0.7 2.7 363 350 13.6 231.3 225.6 0.6 0.6 0.3% 0.3%
Riset Saham Harian
08 Februari 2018
www.samuel.co.idPage 4 of 6
Property BSDE BUY 0.5 1800 2.3 5.9 2175 2350 30.6 16.0 13.8 1.3 1.2 8.2% 8.5% PWON BUY 0.5 685 2.2 0.0 743 767 12.0 16.7 14.1 3.2 2.7 19.2% 19.1% ASRI BUY 0.1 386 2.1 8.4 428 448 16.1 14.4 13.6 1.0 0.9 6.7% 6.7% SMRA HOLD 0.2 1155 1.8 22.2 1161 1110 -3.9 51.5 49.1 1.4 1.7 2.8% 3.4% SSIA HOLD 0.0 570 0.9 10.7 720 626 9.8 36.9 34.3 0.9 0.9 2.4% 2.6% CTRA BUY 0.3 1160 1.9 11.0 1431 1580 36.2 17.2 15.8 1.5 1.4 8.7% 9.2% DMAS BUY 0.1 188 (0.5) 9.9 255 228 21.3 10.6 8.6 1.0 0.9 9.7% 10.8% KIJA BUY 0.1 284 0.0 (0.7) 384 450 58.5 12.3 11.1 1.0 0.9 7.8% 7.9% Average 22.0 20.1 1.4 1.3 8.2% 8.5% Construction PTPP BUY 0.3 3000 0.0 13.6 4034 4150 38.3 13.3 11.3 1.6 1.4 11.8% 12.6% ADHI BUY 0.1 2250 2.3 19.4 2547 2550 13.3 23.4 17.3 1.4 1.4 6.1% 7.9% WSKT BUY 0.5 2830 1.8 28.1 3070 3250 14.8 16.9 13.4 1.9 1.8 11.2% 13.6% WIKA BUY 0.2 1930 1.0 24.5 2404 3000 55.4 15.6 13.6 1.2 1.1 8.0% 8.3% Average 17.3 13.9 1.5 1.4 9.3% 10.6% Cement INTP SELL 1.1 20800 3.1 (5.2) 17690 13500 -35.1 37.1 27.9 2.9 2.7 7.7% 9.6% SMGR HOLD 0.8 10175 0.0 2.8 10883 9000 -11.5 21.0 17.0 2.0 1.8 9.4% 10.7% SMCB SELL 0.1 860 (0.6) 3.0 677 700 -18.6 -11.3 -11.8 0.9 0.9 -7.8% -7.7% SMBR HOLD 0.4 3130 (0.9) (17.6) 598 2300 -26.5 173.9 173.9 9.4 9.0 5.4% 5.2% Average 55.2 51.8 3.8 3.6 3.7% 4.4% Precast WSBP BUY 0.2 452 (0.9) 9.8 610 500 10.6 11.6 9.0 1.4 1.2 12.3% 13.6% WTON BUY 0.1 570 1.8 14.0 776 750 31.6 15.0 14.3 2.2 2.0 14.6% 14.0% Average 13.3 11.6 1.8 1.6 13.4% 13.8%Oil and Gas
PGAS BUY * 0.8 2370 (1.3) 35.4 2441 2200 -7.2 21.5 16.1 1.3 1.2 5.9% 7.5% AKRA BUY 0.3 5550 -1.33 -12.6 7736 8500 53.2 13.6 16.1 2.7 2.4 20.0% 15.2% TPIA HOLD 1.5 5925 -2.9 -1.3 5324 5800 -2.1 26.3 24.2 4.5 4.1 17.1% 16.8% BRPT BUY 0.5 2400 -0.8 6.2 2518 2600 8.3 18.2 16.4 1.5 1.2 8.0% 7.6% MEDC BUY 0.3 1190 0.0 33.7 1249 1500 26.1 8.9 8.3 1.3 1.1 14.7% 13.8% Average 17.7 16.2 2.3 2.0 13.1% 12.2% Utilities JSMR BUY 0.6 5675 1.3 (11.3) 6934 7500 32.2 20.1 17.1 2.7 2.5 13.6% 14.3% Metal ANTM BUY 0.3 870 2.4 39.2 927 1050 20.7 217.5 87.0 1.1 1.3 0.5% 1.5% INCO BUY 0.5 3710 3.9 28.4 3616 3800 2.4 -1766.7 45.2 1.5 1.5 -0.1% 3.3% TINS BUY 0.1 1010 3.6 30.3 1188 1200 18.8 15.8 13.5 1.3 1.3 8.4% 9.4% Average -511.1 48.6 1.3 1.3 2.9% 4.7% Coal DOID BUY 0.1 1065.0 -0.5 49.0 1438.6 1450 36.2 15.9 7.4 4.4 2.7 27.8% 36.7% ITMG BUY 0.4 28800 (1.0) 39.1 29592 38000 31.9 10.4 10.4 2.3 2.2 22.1% 20.8% ADRO BUY 1.1 2450 0.0 31.7 2694 3050 24.5 12.4 8.9 1.4 1.3 11.5% 15.0% PTBA BUY 0.5 3170 0.0 28.9 3392 4000 26.2 15.7 8.5 2.9 2.4 18.4% 28.1% Average 13.6 8.8 2.8 2.2 19.9% 25.2% Plantation AALI BUY 0.3 12825 1.4 (2.5) 16508 17800 38.8 10.0 9.2 1.4 1.3 14.1% 13.8% LSIP BUY 0.1 1305 2.0 (8.1) 1708 1950 49.4 11.8 10.9 1.1 1.0 9.2% 9.3% SIMP HOLD 0.1 500 1.6 7.8 536 550 10.0 11.6 10.2 0.5 0.5 4.6% 5.0% Average 11.1 10.1 1.0 0.9 9.3% 9.4%
Source: SSI Research, Bloomberg
Note: GIAA, PGAS, ITMG, ADRO, MEDC, BRPT, INCO, DOID, TPIA report in USD. Note: *: Under Review
Riset Saham Harian
08 Februari 2018
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Regional Indices 1D Change
Points 1D 3D 1W 1M 3M YTD 1YR High Low
World 2.23 2,101 0.11 (0.12) (5.04) (2.64) 2.46 (0.11) 16.58 2,250 1,795 U.S. (S&P) (13.48) 2,682 (0.50) (2.91) (5.03) (2.40) 3.36 0.30 16.86 2,873 2,285 U.S. (DOW) (19.42) 24,893 (0.08) (2.46) (4.80) (1.54) 5.64 0.70 24.13 26,617 20,015 Europe 59.60 3,455 1.76 (1.95) (4.29) (4.48) (5.49) (1.41) 6.69 3,709 3,214 Emerging Market (2.80) 1,173 (0.24) (4.67) (6.47) (2.77) 3.41 1.29 27.31 1,279 916 FTSE 100 138.02 7,279 1.93 (2.20) (3.37) (5.42) (3.32) (5.31) n/a 7,793 7,079 CAC 40 94.09 5,256 1.82 (2.03) (4.12) (4.22) (3.94) (1.07) 10.27 5,567 4,734 Dax 197.77 12,590 1.60 (1.52) (4.54) (5.82) (5.92) (2.53) 9.07 13,597 11,480 Indonesia 56.33 6,535 0.87 (1.42) (1.07) 2.34 8.03 2.82 21.89 6,686 5,331 Japan 198.19 21,844 0.92 (3.70) (6.99) (7.89) (4.67) (4.05) 14.92 24,129 18,225 Australia (6.01) 5,871 (0.10) (2.58) (3.60) (4.23) (2.42) (3.20) 3.88 6,150 5,620 Korea 25.22 2,422 1.05 (2.81) (5.71) (3.64) (5.12) (1.85) 17.27 2,607 2,052 Singapore (22.61) 3,384 (0.66) (4.14) (4.25) (3.66) (1.10) (0.56) 10.35 3,612 3,056 Malaysia 24.23 1,837 1.34 (1.81) (1.81) 0.25 5.30 2.22 8.78 1,881 1,686 Hong Kong (272.22) 30,323 (0.89) (6.99) (7.80) (1.87) 4.90 1.35 29.12 33,484 23,161 China (61.39) 3,309 (1.82) (4.41) (4.93) (2.94) (3.11) 0.06 4.49 3,587 3,017 Taiwan 147.54 10,552 1.42 (5.17) (4.97) (3.34) (2.47) (0.86) 10.57 11,270 9,506 Thailand (2.99) 1,785 (0.17) (2.29) (2.27) (0.41) 4.13 1.81 12.34 1,848 1,529 Philipines 117.14 8,668 1.37 (1.63) (1.10) (0.89) 1.87 1.28 19.80 9,078 7,146
Monetary Indicators 1D Change
Points 1W 1M 3M YTD 1YR High Low
JIBOR Overnight (%) 0.00 3.90 0.00 (1.19) 2.19 0.00 (7.09) 4.96 3.89
Foreign Reserve (US$bn) n/a 131.98 n/a 1.37 4.29 1.37 12.91 131.98 119.86
Inflation Rate (%) n/a 0.62 n/a (12.68) 6100.00 (12.68) (36.08) 0.71 (0.07)
US Fed Rate (%) 0.00 1.50 0.00 0.00 20.00 0.00 100.00 1.50 0.75
Indo Govt Bond Yld (10yr) - % 0.00 6.37 2.31 3.88 (4.24) 0.76 (15.66) 7.61 6.09
Exchange Rate (per US$) 1D Change
Currency Points 1D 3D 1W 1M 3M YTD 1YR High Low
Indonesia (2.00) 13553 0.01 (0.75) (1.21) (0.93) 0.11 0.11 (1.65) 13,645 13,145
Japan 0.04 109.37 (0.04) (0.26) 0.03 3.40 3.04 3.04 2.34 115.51 107.32
UK 0.00 1.39 0.05 (0.51) (2.64) 2.36 2.78 2.78 10.74 1.43 1.21
Euro 0.00 1.23 0.07 (0.76) (1.89) 2.56 2.23 2.23 14.72 1.25 1.05
China (0.01) 6.28 0.21 0.38 0.18 3.54 3.65 3.65 9.68 6.92 6.25
Commodities Indicators 1D Change
Spot Points 1D 3D 1W 1M 3M YTD 1YR High Low
Oil (0.11) 61.68 (0.18) (3.85) (6.26) (0.08) 8.57 2.09 17.84 66.66 42.05 CPO 16.00 2,489.00 0.65 0.69 (1.19) (3.68) (11.01) (0.56) (17.01) 3,048.00 2,390.00 Rubber (1.00) 739.50 (0.14) (0.87) (0.40) 0.27 (4.95) 0.96 (35.33) 1,169.00 732.50 Coal (0.45) 100.10 (0.45) (2.48) (4.07) (3.47) 2.35 (1.52) 25.67 109.65 71.25 Iron Ore (0.11) 73.72 (0.15) 2.15 1.89 0.77 19.75 4.15 (10.20) 94.91 54.24 Tin (150.00) 21,705.00 (0.69) 0.07 (0.69) 8.44 10.63 8.01 14.88 22,104.00 18,750.00 Nickel (210.00) 13,175.00 (1.57) (1.94) (3.13) 5.19 4.11 3.25 27.23 14,040.00 8,680.00 Copper (196.00) 6,880.00 (2.77) (2.34) (3.34) (3.38) 0.79 (5.06) 18.72 7,312.50 5,462.50 Gold 3.10 1,315.30 0.24 (1.39) (2.21) (0.39) 2.46 0.69 6.23 1,365.40 1,194.50
Source: SSI Research, Bloomberg
Last Price
Last Price Change (%) 1 Year
Change (%) 1 Year
Last Price Change (%) 1 Year
Change (%) 1 Year
DISCLAIMERS : Analyst Certification : The views expressed in this research accurately reflect 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 views in this research. The analyst(s) principally responsible for the preparation of this research has taken reasonable care to achieve and maintain independence and objectivity in making any recommendations. This document is for information only and for the use of the recipient. It is not to be reproduced 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 recommendation contained in this report may not be suitable for all investors. Moreover, although the information contained herein has been obtained from sources believed to be reliable, its accuracy, completeness and reliability cannot be guaranteed. All rights reserved by PT Samuel Sekuritas Indonesia
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Research Team
Andy Ferdinand, CFA Head Of Equity Research, Strategy,
Banking, Consumer andy.ferdinand@samuel.co.id +6221 2854 8148
Ahmad Mikail Economist ahmad.mikail@samuel.co.id +6221 2854 8396
Muhamad Makky Dandytra, CFTe Technical Analyst makky.dandytra@samuel.co.id +6221 2854 8382
Akhmad Nurcahyadi, CSA Auto, Aviation, Cigarette, Construction
Healthcare, Heavy Equipment, Property akhmad.nurcahyadi@samuel.co.id +6221 2854 8144
Arandi Ariantara Cement, Telecommunication, Toll Road, Oil and Gas arandi.ariantara@samuel.co.id +6221 2854 8392
Marlene Tanumihardja Poultry, Retail, Small Caps marlene@samuel.co.id +6221 2854 8387
Sharlita Lutfiah Malik Mining, Plantation sharlita.malik@samuel.co.id +6221 2854 8339
Nadya Swastika Research Associate nadya.swastika@samuel.co.id +6221 2854 8338
Private Wealth Management
Evelyn Satyono Head of PWM / Institutional Sales evelyn.satyono@samuel.co.id +6221 2854 8380
Muhamad Alfatih CSA, CTA, CFTe Senior Technical Portfolio Advisor m.alfatih@samuel.co.id +6221 2854 8129
Ronny Ardianto Institutional Equity Sales ronny.ardianto@samuel.co.id +6221 2854 8399
Clarice Wijana Institutional Equity Sales clarice.wijana@samuel.co.id +6221 2854 8395
Fachruly Fiater Institutional Equity Sales fachruly.fiater@samuel.co.id +6221 2854 8325
Equity Sales Team
Kelvin Long Head of Equities kelvin.long@samuel.co.id +6221 2854 8150
Yulianah Institutional Equity Sales yulianah@samuel.co.id +6221 2854 8146
Lucia Irawati Retail Equity Sales lucia.irawati@samuel.co.id +6221 2854 8173
Online Trading Sales Team
Nugroho Nuswantoro Head of Marketing Online Trading nugroho.nuswantoro@samuel.co.id +6221 2854 8372
Wahyu Widodo Marketing wahyu.widodo@samuel.co.id +6221 2854 8371
