RUU Cipta Kerja disahkan, IHSG Diproyeksi Melanjutkan Penguatan

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: 4,958.8

: +32.0 0.65%

: 7,446 Mn shrs : 4,574 Bn rupiah Last

Close +/- %

TPIA 7,725 175 2.3

MDKA 1,690 0 0.0

BRPT 860 15 1.8

KOTA 560 -40 -6.7

BBCA 27,600 75 0.3

BBRI 3,160 60 1.9

TLKM 2,650 -30 -1.1

HMSP 1,470 65 4.6

Foreign Net Buy / Sell (Regular Market) Net Buy (Rpbn) Net Sell (Rpbn)

BULL 23 TLKM 83

BMRI 19 BBCA 84

MDKA 13 BBRI 39

POLL 6 ASII 36

UNVR 5 TBIG 32 Money Market

Last

Close +/- %

USD/IDR 14,800 -65.0 0.4

JIBOR O/N 5.9 0.0

Dual Listing Securities Last

Close +/- %

TLKM 18.4 0.2 1.2

EIDO 17.9 0.5 2.8

Global Indices Last

Close +/- %

DJIA 28,149 466 1.7

S&P 500 3,409 60 1.8

Euro Stoxx 3,220 29 0.9

MSCI World 2,404 41 1.7

STI 2,517 21 0.8

Nikkei 23,312 282 1.2

Hang Seng 23,768 309 1.3

Commodities Last

Close +/- %

Brent Oil 41 0.0 -0.1

Coal (ICE) 62 1.0 1.6

CPO Malay 2,690 16.0 0.6

Nickel 14,622 226.5 1.6

Tin 18,040 264.0 1.5

Changes Changes

Leading Movers

Lagging Movers

Changes

Changes Market Value

Market Activity Saturday, 03 Oct 2020 Market Index Index Movement Market Volume

DAILY RESEARCH

Market

RUU Cipta Kerja disahkan, IHSG Diproyeksi Melanjutkan Penguatan

Semalam bursa AS ditutup menguat: Dow Jones +1.68%, S&P 500 +1.80% dan Nasdaq +2.32%. Kondisi presiden AS Donald Trump dikabarkan membaik dan diperbolehkan keluar dari rumah sakit. Data Markit Service PMI Sep dan Markit Composite PMI Sep sebesar 54.6 dan 54.3, keduanya sesuai proyeksi konsensus. Sementara ISM non manufacturing PMI Sep naik menjadi 57.8 (prev 56.9, cons 56.2).

Dari Asia, perdagangan kemarin beberapa bursa utama Asia ditutup menguat: Nikkei +1.2%, Hang Seng +1.3%, Kospi +1.3% dan Shanghai masih libur memperingati National Day. Sementara IHSG ditutup naik +0.65% ke level 4,958.8 ditengah net sell asing sebesar IDR 355.6 miliar di pasar reguler. EIDO ditutup naik +2.76%.

Beberapa berita yang dapat dicermati diantaranya: Kemarin DPR telah mengesahkan RUU Cipta Kerja (Omnibus Law Ciptaker). Terdapat dua respon berbeda yang pertama dukungan dari kalangan pengusaha diwakili Kadin namun di sisi lain penolakan dari serikat pekerja. Hari ini akan rilis data Indeks Keyakinan Konsumer (IKK) per September (prev: 86.9). Kasus baru Covid-19 dalam negeri Senin diumukan melandai menjadi 3,622 kasus (prev: 3,992 kasus) dengan kesembuhan lebih tinggi yaitu 4,140 kasus sehingga kasus ditutup sebesar 79.4%. Hingga kini Indonesia telah mencatat total kasus Covid- 19 mencapai 307.1 ribu.

Pagi ini Indeks Nikkei dibuka dan diperdagangkan di zona positif +0.34%, sama halnya Indeks Kospi +0.54%. Dengan sentimen pengesahan RUU Cipta Kerja, kami proyeksi IHSG pada perdagangan hari ini akan bergerak di zona positif.



Industrial Estate: UU Cipta Kerja Jadi Daya Tarik Investasi



Telco Infra : RUU Ciptaker Larang Diskriminatif Penyewaan Telco Infra

Highlights

6 October 2020

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Equity Research│6 October 2020

COMMODITIES

Gold: Gold 100 Oz Futures Dec20 (USD/Troi oz) Oil: Generic 1st Crude Oil, Brent (USD/Barel)

Coal: Newcastle Coal (USD/MT) CPO: Bursa Malaysia Crude Palm Oil (MYR/MT)

Pulp: Generic Bleached Softwood Craft Pulp (CNY/MT) Nickel: London Metal Exchange Nickel Future (USD/MT)

7-Oct-19 7-Nov-19 7-Dec-19 7-Jan-20 7-Feb-20 7-Mar-20 7-Apr-20 7-May-20 7-Jun-20 7-Jul-20 7-Aug-20 7-Sep-20

0 10 20 30 40 50 60 70 80

40 45 50 55 60 65 70 75 80

1,500 1,700 1,900 2,100 2,300 2,500 2,700 2,900 3,100 3,300

Oct-19 ov-19 ec-19 Jan-20 -20 ar-20 Apr-20 ay-20 Jun-20 Jul-20 ug-20 -20

4,000 4,100 4,200 4,300 4,400 4,500 4,600 4,700 4,800 4,900 5,000

Oct-19 ov-19 ec-19 Jan-20 -20 ar-20 Apr-20 ay-20 Jun-20 Jul-20 ug-20 -20

10,000 11,000 12,000 13,000 14,000 15,000 16,000 17,000 18,000 19,000

1,400 1,500 1,600 1,700 1,800 1,900 2,000 2,100 2,200

COVID-19 Data

Indonesia

7 Day Running Covid-19 Data

Total 1D Change Daily 1D Change Total Daily Total Daily Total 1D Change

Cases % Cases % Recovered Recovered Deaths Deaths Active Cases %

10/5/2020 307,120 1.19 3,622 (9.27) 232,593 4,140 11,253 102 63,274 79.40 10/4/2020 303,498 1.33 3,992 (0.37) 228,453 3,401 11,151 96 63,894 78.95 10/3/2020 299,506 1.36 4,007 (7.18) 225,052 3,712 11,055 83 63,399 78.83 10/2/2020 295,499 1.48 4,317 3.43 221,340 2,853 10,972 116 63,187 78.62 10/1/2020 291,182 1.45 4,174 (2.57) 218,487 3,540 10,856 116 61,839 78.76 9/30/2020 287,008 1.52 4,284 7.05 214,947 4,510 10,740 139 61,321 78.63 9/29/2020 282,724 1.44 4,002 14.05 210,437 3,567 10,601 128 61,686 78.18

Average 4,057 3,675 111 78.77

Source: SSI Research, Bloomberg

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Equity Research│6 October 2020

Industrial Estate: UU Cipta Kerja Jadi Daya Tarik Investasi

Pelaku usaha sektor industri padat karya meyakini kehadiran Undang-Undang Cipta Kerja bisa semakin mengakomodasi masuknya investasi. Pengesahan UU Cipta Kerja diperkirakan bakal berimbas pada tereliminasinya sejumlah hambatan industri, terutama pada industri padat karya. (Bisnis Indonesia)

Comment:

Tidak hanya pada industri padat karya, kami melihat pengesahan UU Cipta Kerja dan poin lainnya dalam Omnibus Law menjadi permulaan yang cukup positif untuk meningkatkan daya saing industri domestik dan investasi langsung dalam negeri. Meski kami tidak melihat hal ini dapat mendorong angka pre-sales dalam jangka waktu dekat, kami melihat hal ini menjadi dorongan positif jangka panjang bagi permintaan lahan industri seperti DMAS, SSIA, BEST, dan emiten lainnya. Industrial Estate: Neutral

Telco Infra: RUU Ciptaker Larang Diskriminatif Penyewaan Telco Infra

Badan Legislasi DPR RI memasukan butir pasal mengenai penyewaan infrastruktur pasif ke dalam Daftar Inventaris Masalah (DIM) 5.665 RUU Omnibus Law. Baleg menyelipkan dua pasal diantara pasal 34 dan 35.

Pasal pertama adalah 34A yang intinya memperbolehkan pemerintah pusat dan pemerintah daerah membangun infrastruktur yang kemudian infrastruktur telekomunikasi pasif tersebut digunakan secara bersama-sama oleh penyelenggara jasa telekomunikasi. Kemudian pasal 34B terdapat empat butir ayat sebagai berikut : (1) pelaku usaha yang memiliki infrastruktur yang dapat digunakan untuk keperluan telekomunikasi wajib membuka akses pemanfaatan infrastruktur pasif kepada penyelenggara telekomunikasi.(2)Pelaku usaha yang memiliki infrastruktur selain sebagaimana dimaksud pada ayat (1) di bidang telekomunikasi dan atau penyiaran, dapat membuka akses pemanfaatan infrastruktur dimaksud kepada penyelenggara telekomunikasi dan atau penyelenggara penyiaran. (3) Pemanfaatan infrastruktur sebagaimana dimaksud pada ayat (1) dan ayat (2) dilakukan berdasarkan kerja sama kedua belah pihak secara adil, wajar dan non-diskriminatif. (Bisnis Indonesia)

Comment:

Dalam RUU tersebut sebenarnya tidak secara langsung berdampak pada perusahaan menara. Namun

persaingan menara menjadi lebih terbuka, dimana para operator yang memiliki menara (infrastruktur

pasif) wajib memberi akses kepada penyelenggara telekomunikasi lain untuk menggunakan menara

tersebut, tanpa diskriminatif. Dengan demikian, operator yang memiliki menara seperti telkomsel

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Equity Research│6 October 2020

akan menjadi pesaing dalam bisnis menara, sehingga lease rate penyewaan baru dapat turun

kembali. Meski demikian, di sisi lain, akan membuat penyelenggaran telekomunikasi lebih sehat

karena tidak adanya praktek monopoli menara oleh satu operator. Telco Infra: Overweight

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Equity Research│6 October 2020

JCI Wgt Last price YTD Chg TP SSI TP Cons SSI Upside PE PE PBV PBV ROE ROE

(%) (Rp) (%) (Rp) (Rp) (%) 20E 21E 20E 21E 20E 21E

Banks

BMRI BUY 4.5 5,350 (30.3) 7,700 6,855 43.9 8.7 8.7 1.1 1.0 12.7% 11.6%

BBCA BUY 12.2 27,600 (17.4) 32,000 33,239 15.9 28.1 22.1 3.9 3.5 13.7% 15.8%

BBRI BUY 7.0 3,160 (28.2) 3,800 3,881 20.3 20.1 11.9 2.1 1.9 10.3% 15.8%

BBNI BUY 1.5 4,620 (41.1) 6,000 5,696 29.9 12.8 6.3 0.7 0.6 5.4% 10.0%

BBTN BUY 0.2 1,240 (41.5) 1,500 1,507 21.0 4.3 4.0 0.5 0.4 10.9% 10.6%

BNLI BUY 0.6 1,170 (7.5) 1,376 1,356 17.6 21.7 20.2 1.3 1.2 6.1% 6.1%

Average 16.0 12.2 1.6 1.4 9.9% 11.6%

Consumer (Staples)

ICBP HOLD 2.1 10,100 (9.4) 9,300 12,024 -7.9 20.5 18.3 4.0 3.5 19.6% 19.1%

INDF BUY 1.1 7,100 (10.4) 9,500 8,728 33.8 12.6 11.6 1.6 1.5 12.9% 13.2%

KLBF BUY 1.3 1,565 (3.4) 1,750 1,788 11.8 24.8 23.7 4.2 3.8 16.8% 16.1%

UNVR BUY 5.6 8,075 (3.9) 9,800 8,993 21.4 38.5 38.1 47.6 47.0 123.7% 123.4%

Average 24.1 22.9 14.4 14.0 43.3% 42.9%

Cigarette

HMSP HOLD 3.1 1,470 (30.0) 1,520 1,759 3.4 17.1 16.9 52.5 5.2 307.1% 30.9%

GGRM BUY 1.5 41,675 (21.4) 71,700 57,268 72.0 13.4 10.5 1.5 1.4 11.2% 13.4%

Average 15.2 13.7 27.0 3.3 159.2% 22.1%

Healthcare

MIKA BUY 0.7 2,590 (3.0) 3,000 2,589 15.8 49.8 48.0 8.5 4.1 17.0% 8.6%

SILO HOLD 0.1 4,800 (30.9) 4,900 5,575 2.1 39.7 28.2 1.2 1.1 3.0% 4.0%

HEAL BUY 0.2 3,220 (10.1) 5,000 4,205 55.3 39.3 30.1 4.1 3.6 10.3% 12.0%

Average 42.9 35.4 4.6 3.0 10.1% 8.2%

Poultry

CPIN HOLD 1.7 5,750 (11.5) 5,800 5,728 0.9 23.7 20.8 3.9 3.5 16.5% 16.7%

JPFA BUY 0.2 1,145 (25.4) 1,500 1,323 31.0 6.1 5.7 1.0 0.9 17.0% 16.2%

MAIN BUY 0.0 525 (47.8) 700 630 33.3 262.5 7.2 0.6 0.5 0.2% 7.2%

Average 97.4 11.2 1.8 1.6 11.2% 13.4%

Retail

MAPI BUY 0.2 560 (46.9) 1,350 815 141.1 7.9 7.0 1.2 1.0 15.4% 14.8%

RALS BUY 0.1 515 (51.6) 1,400 657 171.8 4.4 4.1 0.8 0.7 17.3% 17.3%

ACES BUY 0.5 1,565 4.7 1,900 1,759 21.4 23.0 20.6 4.9 4.3 21.2% 20.7%

Average 11.8 10.6 2.3 2.0 18.0% 17.6%

Pulp and Paper

INKP SELL 0.9 8,875 15.3 6,900 8,950 -22.3 10.6 11.0 0.8 0.7 7.2% 6.5%

Average 10.6 11.0 0.8 0.7 7.2%

Media

MNCN BUY 0.2 725 (55.5) 1,390 1,357 91.7 3.9 3.5 0.7 0.6 17.5% 17.3%

SCMA BUY 0.3 1,185 (16.0) 1,550 1,492 30.8 10.2 10.2 2.7 2.4 26.4% 23.8%

Average 7.1 6.9 1.7 1.5 22.0% 20.5%

Telco

EXCL BUY 0.4 2,090 (33.7) 3,500 3,445 67.5 21.8 20.1 1.1 1.1 5.1% 5.4%

ISAT BUY 0.2 2,020 (30.6) 2,800 3,128 38.6 n/a n/a 1.0 1.0 -9.7% -2.2%

TLKM BUY 4.7 2,650 (32.3) 4,300 3,867 62.3 12.8 11.8 2.2 2.1 16.9% 17.5%

Average 17.3 15.9 1.4 1.4 4.1% 6.9%

Telco Retail

ERAA HOLD 0.1 1,530 (14.8) 1,625 1,804 6.2 8.2 6.7 0.9 0.8 11.0% 11.9%

Telco Infra

TBIG BUY 0.5 1,330 8.1 1,490 1,439 12.0 27.7 26.1 4.6 4.1 16.5% 15.6%

TOWR BUY 1.0 1,035 28.6 1,300 1,264 25.6 17.5 16.2 4.9 4.1 27.7% 25.2%

Average 22.6 21.1 4.7 4.1 22.1% 20.4%

Stock Rec.

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Equity Research│6 October 2020

(%) (Rp) (%) (Rp) (Rp) (%) 20E 21E 20E 21E 20E 21E

Auto

ASII BUY 3.3 4,560 (34.2) 7,500 5,759 64.5 8.5 7.8 0.9 0.8 10.8% 10.9%

Average 8.5 7.8 0.9 0.8 10.8%

Mining Contracting

UNTR HOLD 1.5 22,325 3.7 22,300 25,695 -0.1 7.0 5.2 1.5 1.0 22.1% 19.7%

Average 7.0 5.2 1.5 1.0 22.1%

Aviation

GIAA BUY 0.1 222 (55.4) 650 255 192.8 2.3 1.9 0.4 0.3 17.5% 16.9%

Average 2.3 1.9 0.4 0.3 17.5%

Property

BSDE BUY 0.3 780 (37.8) 950 980 21.8 11.6 11.1 0.4 0.4 3.7% 3.6%

PWON BUY 0.3 344 (39.6) 460 513 33.7 5.6 5.2 0.9 0.8 16.5% 15.4%

ASRI BUY 0.0 111 (53.4) 140 137 26.1 2.8 3.4 0.2 0.2 7.1% 5.5%

LPKR BUY 0.2 123 (49.2) 170 186 38.2 11.2 9.5 0.3 0.3 2.5% 2.9%

SMRA BUY 0.1 555 (44.8) 775 805 39.6 12.6 10.1 1.0 0.9 8.0% 9.2%

CTRA BUY 0.2 690 (33.7) 950 892 37.7 14.4 13.8 0.8 0.8 5.5% 5.5%

Average 9.7 8.8 0.6 0.6 7.2% 7.0%

Industrial Estate

SSIA BUY 0.0 446 (31.9) 550 487 23.3 49.6 24.8 0.5 0.5 1.0% 2.0%

DMAS HOLD 0.2 228 (23.0) 250 255 9.6 6.9 6.5 1.5 1.4 21.0% 21.9%

KIJA SELL 0.1 214 (26.7) 150 160 -29.9 19.5 16.5 0.8 0.6 4.0% 3.4%

Average 25.3 15.9 0.9 0.8 8.7% 7.7%

Construction

PTPP BUY 0.1 820 (48.3) 1,200 1,152 46.3 21.0 6.5 0.3 0.3 1.6% 5.0%

ADHI BUY 0.0 505 (57.0) 1,800 762 256.4 2.4 2.2 0.2 0.2 10.0% 10.0%

WSKT BUY 0.1 515 (65.3) 600 717 16.5 n/a 28.6 0.3 0.3 -7.3% 1.1%

WIKA BUY 0.2 1,090 (45.2) 1,600 1,458 46.8 11.4 7.4 0.6 0.5 5.0% 7.1%

Average 11.6 11.2 0.4 0.3 2.3% 5.8%

Cement

INTP BUY 0.7 10,550 (44.5) 12,200 14,510 15.6 29.3 24.4 1.7 1.7 5.8% 6.9%

SMGR BUY 1.0 9,450 (21.3) 10,800 11,707 14.3 42.2 25.0 1.6 1.5 3.8% 6.1%

Average 35.7 24.7 1.7 1.6 4.8% 6.5%

Precast

WSBP BUY 0.1 138 (54.6) 170 272 23.2 3.1 2.7 0.4 0.3 12.1% 12.7%

WTON BUY 0.0 222 (50.7) 340 430 53.2 3.1 2.7 0.5 0.4 15.6% 16.0%

Average 3.1 2.7 0.4 0.4 13.8% 14.3%

Oil and Gas

PGAS SELL 0.4 930 (57.1) 700 1,312 -24.7 15.8 11.8 0.6 0.5 3.6% 4.6%

AKRA BUY 0.2 2,610 (33.9) 3,800 3,597 45.6 13.5 11.8 1.2 1.2 9.1% 10.0%

MEDC BUY 0.2 338 (53.8) 950 528 181.1 5.9 2.7 0.3 0.3 5.9% 12.1%

Average 11.7 8.7 0.7 0.7 6.2% 8.9%

Chemical

TPIA HOLD 2.5 7,725 (25.5) 7,575 6,425 -1.9 63.3 63.3 5.5 5.5 8.6% 8.6%

BRPT BUY 1.5 860 (43.0) 1,075 705 25.0 6.4 6.4 0.4 0.4 6.2% 6.2%

ESSA BUY 0.0 139 (48.1) 280 N/A 101.4 4.1 4.1 0.4 0.4 9.6% 9.6%

Average 24.6 24.6 2.1 2.1 8.2% 8.1%

Utilities

JSMR BUY 0.5 3,580 (30.8) 4,700 4,936 31.3 44.8 14.3 1.1 1.0 2.4% 6.9%

Metal

ANTM BUY 0.3 720 (14.3) 960 918 33.3 102.9 65.5 1.0 1.0 0.9% 1.5%

MDKA HOLD 0.7 1,690 57.9 1,600 2,068 -5.3 21.7 13.4 5.5 4.3 25.2% 31.9%

INCO BUY 0.6 3,580 (1.6) 4,000 3,942 11.7 22.8 19.6 1.2 1.2 5.2% 6.0%

TINS BUY 0.1 680 (17.6) 1,775 995 161.0 n/a 772.7 1.0 1.2 -4.2% 0.1%

Average 49.1 217.8 2.1 1.9 6.8% 9.9%

Stock Rec.

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Equity Research│6 October 2020

(%) (Rp) (%) (Rp) (Rp) (%) 20E 21E 20E 21E 20E 21E

Coal

ITMG HOLD 0.2 8,075 (29.6) 8,080 9,193 0.1 3.1 3.7 1.2 2.1 37.8% 57.3%

ADRO BUY 0.7 1,125 (27.7) 1,600 1,309 42.2 5.9 5.9 0.6 0.6 9.9% 9.3%

PTBA HOLD 0.4 1,950 (26.7) 1,870 2,336 -4.1 8.1 12.2 1.3 1.3 15.7% 10.6%

Average 5.7 7.3 1.0 1.3 21.1% 25.7%

Plantation

AALI HOLD 0.4 10,475 (28.1) 11,100 12,446 6.0 31.4 18.5 1.1 1.0 3.4% 5.5%

LSIP HOLD 0.1 915 (38.4) 1,000 1,185 9.3 17.6 15.8 0.7 0.7 4.1% 4.4%

TBLA BUY 0.1 725 (27.1) 980 1,114 35.2 4.5 4.2 0.6 0.6 14.3% 14.3%

SIMP BUY 0.1 300 (30.6) 388 470 29.3 27.3 17.6 0.3 0.3 1.2% 1.8%

SSMS BUY 0.1 805 (4.7) 1,050 1,100 30.4 15.5 11.0 1.7 1.5 11.0% 13.8%

Average 19.2 13.4 0.9 0.8 6.8% 8.0%

Source: SSI Research, Bloomberg

Note: GIAA, INKP, PGAS, ITMG, ADRO, MEDC, BRPT, INCO, DOID, TPIA report in USD.

Stock Rec.

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Equity Research│6 October 2020

Chg (Pts)

1D 1D 1W 1M 3M YTD 1YR High Low

World 2,404 41.09 1.74 1.86 0.16 6.15 1.91 11.59 2,500 1,579

U.S. (S&P) 3,409 60.19 1.80 1.70 (0.53) 7.20 5.50 15.47 3,588 2,192

U.S. (DOW) 28,149 465.83 1.68 2.05 0.05 7.08 (1.37) 5.93 29,569 18,214

Europe 3,220 29.29 0.92 (0.09) (1.24) (3.87) (14.02) (6.57) 3,867 2,303

Emerging Market 1,091 9.68 0.89 2.11 (0.74) 2.91 (2.09) 9.51 1,151 752

FTSE 100 5,943 40.82 0.69 0.25 2.48 (5.46) (21.21) (16.94) 7,690 4,899

CAC 40 4,872 46.99 0.97 0.59 (1.88) (4.13) (18.50) (11.23) 6,111 3,632

Dax 12,828 139.27 1.10 (0.33) (0.11) 0.74 (3.18) 6.79 13,795 8,256

Indonesia 4,959 32.04 0.65 1.06 (5.36) (0.60) (21.28) (18.19) 6,349 3,912

Japan 23,312 282.24 1.23 (0.96) 0.46 2.63 (1.46) 8.88 24,116 16,358

Australia 5,919 (22.98) (0.39) (0.56) (0.12) (1.60) (11.45) (9.18) 7,197 4,403

Korea 2,372 13.65 0.58 4.35 0.14 8.40 7.92 17.37 2,458 1,439

Singapore 2,517 21.12 0.85 1.38 0.30 (6.41) (21.89) (18.23) 3,286 2,208

Malaysia 1,512 12.13 0.81 0.05 (0.23) (4.09) (4.80) (2.90) 1,618 1,208

Hong Kong 23,768 308.73 1.32 1.96 (3.76) (9.76) (15.69) (7.95) 29,175 21,139

China 3,218 (6.31) (0.20) (1.88) (5.65) 6.35 5.51 10.77 3,459 2,647

Taiwan 12,548 32.67 0.26 2.31 (0.71) 3.56 4.59 15.18 13,032 8,524

Thailand 1,243 5.45 0.44 (1.59) (5.26) (9.42) (21.32) (22.60) 1,643 969

Philipines 5,939 (60.45) (1.01) 1.32 2.66 (6.15) (24.01) (22.92) 8,217 4,039

1D 1D 1W 1M 3M YTD 1YR High Low

Foreign Reserves (US$Bn) 137.00 1.42 4.95 6.05 8.35 137.00 120.97

Inflation Rate (yoy, %) 1.42 2.98 1.32

Gov Bond Yld (10yr, %) 6.91 (4.47) 8.38 6.51

US Fed Rate (%) 0.25 2.00 0.25

Chg (Pts)

1D 1D 1W 1M 3M YTD 1YR High Low

Indonesia 14,800 (65.00) 0.44 0.68 (0.41) (2.09) (6.31) (4.30) 16,625 13,577

Japan 105.69 (0.06) 0.06 (0.03) 0.55 1.57 2.76 1.49 112.23 101.19

UK 1.30 0.00 0.12 1.02 (1.31) 4.02 (1.98) 5.70 1.35 1.14

Euro 1.18 0.00 0.08 0.41 (0.21) 4.27 5.16 7.48 1.20 1.06

China 6.79 (0.03) 0.37 0.27 0.85 4.02 2.54 5.26 7.18 6.75

Chg (Pts)

1D 1D 1W 1M 3M YTD 1YR High Low

Oil (Brent) 41.26 (0.03) (0.07) 0.56 (3.28) (4.27) (37.48) (29.31) 71.75 15.98

CPO 2,690 16.00 0.60 (4.68) (3.83) 14.57 (11.86) 22.38 3,140 1,944

Rubber 841.50 5.50 0.66 0.36 4.53 4.53 10.14 17.28 841.50 685.00

Coal 61.80 0.95 1.56 4.75 22.62 13.50 (8.71) (8.38) 77.25 47.50

Tin 18,040 264.00 1.49 4.20 (1.12) 6.75 5.02 9.68 18,421 13,375

Nickel 14,644 226.00 1.57 0.97 (4.24) 12.68 4.41 (17.68) 17,820 10,865

Copper 6,529 (24.50) (0.37) (0.66) (2.70) 8.50 5.74 15.69 6,878 4,371

Gold 1,914 (2.60) (0.14) 1.01 (0.66) 6.69 25.93 26.79 2,074 1,446

Source: Bloomberg, SSI Research

Change (%) 1 Year

Commodity Indicators Last Price Regional Indices Last Price

Exchange Rate (per USD) Last Price

(9)

DISCLAIMER: 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 his 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

Equity Research│6 October 2020

Research Team

Suria Dharma Head of Equity Research, Strategy, Banking,

Consumer (Staple) [email protected] +6221 2854 8148

Ahmad Mikail Zaini Economist [email protected] +6221 2854 8396

William Mamudi, CMT Technical Analyst [email protected] +6221 2854 8382

Yosua Zisokhi Cement , Cigarette,Paper, Plantation,Telco

Infra, Chemical [email protected] +6221 2854 8387

Dessy Lapagu Aviation, Coal, Metal [email protected] +6221 2854 8392

Selvi Ocktaviani Automotive,Construction, Mining Cont.,

Precast,Telco, Toll Roads [email protected] +6221 2854 8393 Ilham Akbar Healthcare, Ind. Estate, Property,Oil & Gas [email protected] +6221 2854 8144

Nashrullah Putra Media, Poultry [email protected] +6221 2854 8144

Calista Muskitta Research Associate [email protected] +6221 2854 8331

Private Wealth Management

Evelyn Satyono Head of PWM / Institutional Sales [email protected] +6221 2854 8380

Ronny Ardianto Institutional Equity Sales [email protected] +6221 2854 8399

Clarice Wijana Institutional Equity Sales [email protected] +6221 2854 8395

Fachruly Fiater Institutional Equity Sales [email protected] +6221 2854 8325

Gitta Wahyu Retnani Institutional Equity Sales [email protected] +6221 2854 8365

Equity Sales Team

Kelvin Long Head of Equities [email protected] +6221 2854 8150

Yulianah Institutional Equity Sales [email protected] +6221 2854 8146

Lucia Irawati Retail Equity Sales [email protected] +6221 2854 8173

Fixed Income Sales Team

R. Virine Tresna Sundari Head of Fixed Income [email protected] +6221 2854 8170

Rudianto Nugroho Fixed Income Sales [email protected] +6221 2854 8306

Teguh Suwarno Fixed Income Sales [email protected] +6221 2854 8384

Sany Rizal Keliobas Fixed Income Sales [email protected] +6221 2854 8337

Online Trading Sales Team

Nugroho Nuswantoro Head of Marketing Online Trading [email protected] +6221 2854 8372 Muhamad Alfatih CSA, CTA, CFTe Senior Technical Portfolio Advisor [email protected] +6221 2854 8129

Wahyu Widodo Marketing [email protected] +6221 2854 8371