Riset Saham Harian
Samuel Equity Research 14 Agustus 2018
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Krisis Turki Masih Mengancam
Bursa AS dan Eropa ditutup melemah semalam seiring timbul kekhawatiran krisis keuangan Turki akan menyebar ke negara lain. Investor tampak beralih ke safe haven seperti USD. Namun, setelah penguatan siknifikan beberapa hari lalu, pagi ini, USD index sedikit terkoreksi. Harga emas terus melemah dan telah menembus USD1.200.
Meski ada kekhawatiran krisis Turki bisa dialami oleh Indonesia karena sejumlah persamaan seperti current account yang defisit, mata uang yang dinilai fragile, dan adanya ancaman tarif dari AS, Indonesia berada pada kondisi yang jauh lebih baik seperti level current account deficit, rasio utang, dan tingkat inflasi. Rencana pemerintah menahan proyek infrastruktur (mengurangi impor barang modal) dan kemungkinan BI menaikkan suku bunga lagi, dapat menjaga nilai tukar rupiah ke depannya.
IHSG kemarin melemah 3,5% dengan dana asing mencatatkan net sell Rp 836 miliar di pasar reguler. Melihat pelemahan EIDO semalam (-5,0%) dan penguatan sejumlah bursa saham pagi ini, kami lihat IHSG akan cenderung mixed hari ini.
Highlights
KLBF: Menaikkan harga jual
IPO Andira: Rp 200 per Saham
BALI: Realisasikan 400 Unit Menara Baru
PALM: Rambah binis investasi di perusahaan emas
ADHI: Peroleh Rp7.45tn
: 5,861.2: -215.9 (-3.55%) : 4,050 Mn shrs : 5,327 Bn rupiah Last
Close +/- %
FILM 760 150 24.6
INPP 740 40 5.7
POWR 1,000 15 1.5
MLBI 16,000 100 0.6
BBRI 3,140 -250 -7.4
BMRI 6,925 -425 -5.8
HMSP 3,630 -140 -3.7
BBCA 23,325 -550 -2.3
Foreign Net Buy / Sell (Regular Market) Net Buy (Rpbn) Net Sell (Rpbn)
INKP 40 BBRI 222
LPPF 22 TLKM 173
BDMN 18 BBNI 165
CPIN 15 BMRI 128
INDY 15 BBCA 104 Money Market
Last
Close +/- %
USD/IDR 14,595 120.0 -0.8
JIBOR O/N 5.1 0.0 -
Infl (MoM) 0.3 - -
Dual Listing Securities Last
Close +/- %
TLKM 23.0 -0.7 -3.0
ISAT 59.8 -0.5 -0.9
EIDO 22.8 -1.2 -5.1
World Indices Last
Close +/- %
DJIA 25,188 -125 -0.5
S&P 500 2,822 -11 -0.4 Euro Stoxx 3,410 -17 -0.5 MSCI World 2,127 -12 -0.6
Nikkei 22,113 256 1.2
Hang Seng 27,937 -430 -1.5
Commodities Last
Close +/- %
Brent Oil 73 0.2 0.3
CPO Malay 2,230 -45.0 -2.0
Coal (ICE) 114 1.5 1.3
Nickel 13,492 -279.0 -2.0
Tin 19,395 -104.0 -0.5
Changes Changes
Changes
Changes Lagging Movers
Market Value
Changes Leading Movers
Market Activity Tuesday, 14 Aug 2018 Market Index Index Movement Market Volume
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KLBF: Menaikkan harga jual
KLBF akan menaikkan harga jual rata-rata sebesar 4% untuk produk nutrisi dan kesehatan secara bertahap dalam 3 bulan ke depan. Hal ini dilakukan seiring depresiasi rupiah yang menggerus marjin.
Selain itu, KLBF meningkatkan upaya product mix dengan mengutamakan produk bermarjin tinggi serta melakukan efisiensi. (Bisnis Indonesia).
KLBF: HOLD; 18E’ PE: 23.3, PBV: 4.1
IPO Andira: Rp 200 per Saham
Proses penawaran perdana saham kepada publik alias initial public offering (IPO) PT Andira Agro sudah memasuki tahap pembentukan harga. Senin (13/8), Andira sudah menetapkan harga pelaksanaan IPO sebesar Rp 200 per saham dan menargetkan melepas sebanyak 500 juta saham
Perusahaan perkebunan ini sudah menggenggam pernyataan efektif IPO sejak 10 Agustus lalu dan erencana mencatatkan sahamnya di BEI pada 16 Agustus 2018, dengan kode saham ANDI.
BALI: Realisasikan 400 Unit Menara Baru
PT Bali Towerindo Sentra Tbk mengklaim telah membangun 400 menara baru sepanjang 1H18. Ekspansi menara tersebut setara 40% dari total target penambahan menara sepanjang tahun ini yang mencapai 1.000 menara. Mayoritas jenis menara yang mereka bangun berupa microcell pole (MCP). (Kontan)
BALI: Non-Coverage
PALM: Rambah binis investasi di perusahaan emas
PT Provident Agro Tbk (PALM) menyiapkan dana hingga sebesar Rp 600 miliar untuk menyerap sebagian saham baru yang akan diterbitkan PT Merdeka Copper Gold Tbk (MDKA) melalui rights issue. Aksi korporasi itu dilakukan anak usaha perseroan, yaitu PT Suwarna Arta Mandiri, untuk mewujudkan ekspansi di luar bisnis CPO.
Periode perdagangan rights issue atau hakmemesan efek terlebih dahulu (HMETD) MDKA akan berlangsung selama 23-29 Agustus 2018 dan menerbitkan maksimal 594,93 juta saham dengan harga pelaksanaan Rp 2.250 per saham.
Sementara PALM akan membagikan dividen tunai sebesar Rp 260 miliar atau setara Rp 36,5 per saham. Pembagian dividen ini disepakati dalam rapat umum pemegang saham luar biasa, Senin (13/8). (Investor Daily, Kontan)
PALM: Non-Coverage
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ADHI: Peroleh Rp7.45tn
PT Adhi Karya (Persero), Tbk (ADHI) membukukan kontrak baru per 7M18 sebesar Rp7.45tn, atau setara dengan 31.97% dari target perseroan tahun ini. Hingga periode tersebut porsi kontrak baru masih berasal mayoritas dari EPC sebanyak 90%. (Bisnis
Indonesia).ADHI: BUY.
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Stock Rec. JCI Wgt Last price 1D Chg YTD Chg TP Cons TP SSI Upside PE PE PBV PBV ROE ROE
(%) (Rp) (%) (%) (Rp) (Rp) (%) 18E 19E 18E 19E 18E 19E
Banks
BMRI BUY 4.9 6925 (5.8) (13.4) 8171 8200 18.4 13.6 12.0 1.8 1.6 13.1% 13.4%
BBCA HOLD 8.7 23325 (2.3) 6.5 24566 26250 12.5 22.8 20.8 3.8 3.4 16.9% 16.2%
BBRI BUY 5.9 3140 (7.4) (13.7) 3719 3800 21.0 12.2 10.8 2.1 1.8 17.2% 16.9%
BBNI BUY 2.1 7400 (7.2) (25.3) 9063 9050 22.3 9.3 8.0 1.3 1.1 13.7% 14.3%
BBTN HOLD 0.4 2630 (6.4) (26.3) 3310 2800 6.5 8.4 7.3 1.1 1.0 13.6% 13.9%
BNLI BUY 0.2 520 (2.8) (16.8) 552 890 71.2 14.4 14.1 0.6 0.6 4.4% 4.4%
Average 13.5 12.2 1.8 1.6 13.1% 13.2%
Consumer (Staples)
ICBP BUY 1.5 8550 (4.7) (3.9) 9539 10200 19.3 23.8 21.8 4.5 4.1 19.1% 18.6%
INDF BUY 0.8 6200 (3.1) (18.7) 8503 8400 35.5 11.8 10.6 1.6 1.5 13.6% 13.8%
KLBF HOLD 0.9 1260 (2.3) (25.4) 1409 1450 15.1 23.3 22.1 4.1 3.7 17.4% 16.7%
ROTI HOLD 0.1 950 (4.0) (25.5) 894 900 -5.3 26.4 20.2 2.9 2.6 11.1% 12.9%
UNVR HOLD 5.0 42600 (2.2) (23.8) 46063 49900 17.1 41.8 38.8 53.4 48.5 127.7% 125.2%
Average 25.4 22.7 13.3 12.1 37.8% 37.5%
Cigarette
HMSP SELL * 6.5 3630 (3.7) (23.3) 4117 3900 7.4 32.7 30.6 11.1 10.1 34.0% 32.8%
GGRM BUY 2.2 75000 (2.6) (10.5) 84040 83700 11.6 19.3 18.7 2.9 2.6 14.8% 13.6%
Average 26.0 24.7 7.0 6.3 24.4% 23.2%
Healthcare
MIKA BUY 0.4 1960 (1.0) 8.3 1963 2050 4.6 38.2 31.5 5.7 4.6 14.9% 14.6%
SILO HOLD 0.1 2900 (4.3) (69.7) 6008 3250 12.1 42.9 37.1 0.6 0.5 1.4% 1.4%
Average 40.6 34.3 3.2 2.6 8.2% 8.0%
Poultry
CPIN BUY 1.1 4470 (7.6) 49.0 5076 5500 23.0 17.5 15.5 3.9 3.3 22.5% 21.6%
JPFA BUY 0.4 2010 (8.2) 54.6 2563 2750 36.8 8.3 7.3 1.9 1.5 22.3% 21.2%
MAIN BUY 0.0 1285 (5.5) 73.6 1461 1400 8.9 8.7 6.0 1.2 1.0 13.2% 16.7%
Average 11.5 9.6 2.3 2.0 19.3% 19.8%
Retail
MAPI BUY 0.2 840 (4.5) 35.5 995 930 10.7 28.0 17.9 3.5 2.9 12.3% 16.4%
RALS BUY 0.1 1315 (3.3) 9.6 1554 1550 17.9 22.3 19.6 2.5 2.4 11.2% 12.2%
ACES BUY 0.4 1420 (3.4) 22.9 1553 1550 9.2 27.3 23.3 6.9 5.9 25.4% 25.3%
LPPF BUY 0.3 6375 (4.5) (36.3) 10013 13200 107.1 8.6 8.0 5.4 4.1 63.2% 50.6%
Average 21.6 17.2 4.6 3.8 28.0% 26.2%
Media
MNCN BUY 0.2 935 (5.6) (27.2) 1509 1500 60.4 8.3 8.0 1.4 1.3 16.5% 15.8%
SCMA BUY 0.4 1955 (4.2) (21.2) 2694 3000 53.5 15.9 12.4 5.8 4.4 36.3% 35.8%
Average 12.1 10.2 3.6 2.9 26.4% 25.8%
Telco
EXCL BUY 0.5 2850 (7.2) (3.7) 3686 3380 18.6 123.9 26.4 1.4 1.3 1.1% 5.1%
ISAT BUY 0.3 3280 (4.9) (31.7) 3974 7400 125.6 6.7 6.2 1.1 1.0 16.3% 16.2%
TLKM HOLD 5.2 3370 (3.7) (23.4) 4165 3700 9.8 17.5 17.4 3.4 3.2 19.7% 18.3%
TOWR BUY 0.4 540 0.0 (32.5) 858 900 66.7 9.3 8.5 1.9 1.6 20.2% 19.2%
Average 39.3 14.6 2.0 1.8 14.3% 14.7%
Auto and HE
ASII BUY 4.4 7100 (4.1) (14.5) 8463 9400 32.4 14.2 12.7 2.1 1.9 14.7% 14.7%
UNTR BUY 2.0 34500 (4.9) (2.5) 41856 41500 20.3 15.4 12.0 2.5 2.2 16.2% 18.3%
Average 14.8 12.3 2.3 2.0 15.4% 16.5%
Aviation
GIAA HOLD 0.1 226 (1.7) (24.7) 291 295 30.5 165.6 16.4 0.4 0.3 0.3% 2.1%
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Property
BSDE BUY 0.4 1240 (2.0) (27.1) 2001 2350 89.5 4.5 4.1 0.7 0.6 14.6% 13.6%
PWON BUY 0.4 515 (4.6) (24.8) 709 767 48.9 12.6 10.5 2.1 1.8 16.8% 17.2%
ASRI HOLD 0.1 326 (2.4) (8.4) 410 310 -4.9 5.5 5.3 0.7 0.6 11.9% 11.2%
SMRA SELL * 0.2 700 (4.8) (25.9) 1066 782 11.7 28.0 26.4 1.3 1.3 4.6% 5.1%
SSIA HOLD 0.0 550 (3.5) 6.8 724 564 2.5 132.2 89.3 0.6 0.6 0.5% 0.7%
CTRA BUY 0.3 970 (2.0) (18.1) 1377 1580 62.9 19.6 18.3 1.0 0.9 5.0% 5.1%
DMAS HOLD 0.1 147 (1.3) (14.0) 203 156 6.1 10.6 10.1 0.9 0.8 8.7% 8.4%
KIJA SELL 0.1 218 0.0 (23.8) 240 203 -6.9 48.9 42.7 0.7 0.7 1.5% 1.7%
Average 32.7 25.8 1.0 0.9 7.9% 7.9%
Construction
PTPP BUY 0.2 1930 (3.3) (26.9) 3373 3350 73.6 9.5 8.7 1.0 0.9 10.9% 10.7%
ADHI BUY 0.1 1595 (4.8) (15.4) 2649 3250 103.8 8.9 6.3 0.8 0.7 9.1% 11.4%
WSKT BUY 0.4 1965 (6.9) (11.1) 2915 3250 65.4 7.2 6.7 1.0 1.0 14.3% 14.8%
WIKA BUY 0.2 1605 (5.0) 3.5 2230 1850 15.3 9.9 8.0 0.9 0.8 8.6% 9.4%
Average 8.9 7.4 0.9 0.8 10.7% 11.6%
Cement
INTP SELL 0.8 14200 (4.7) (35.3) 16027 13300 -6.3 19.0 16.2 1.8 1.7 9.6% 10.5%
SMGR BUY 0.7 8100 (3.6) (18.2) 9484 12000 48.1 13.5 12.4 1.4 1.3 10.7% 10.7%
SMCB SELL * 0.1 695 (0.7) (16.8) 682 700 0.7 -9.5 -11.4 0.7 0.8 -7.7% -6.6%
Average 7.7 5.7 1.3 1.3 4.2% 4.9%
Precast
WSBP BUY 0.2 396 (4.8) (2.9) 568 580 46.5 9.3 7.9 1.1 1.0 12.4% 12.5%
WTON BUY 0.1 404 (5.6) (19.2) 630 750 85.6 8.4 7.3 0.9 0.7 10.2% 9.8%
Average 8.9 7.6 1.0 0.9 11.3% 11.2%
Oil and Gas
PGAS BUY 0.7 1805 (7.0) 3.1 2301 3000 66.2 12.6 11.0 1.1 1.1 9.1% 9.7%
AKRA BUY 0.3 4090 -4.22 -35.6 5404 6000 46.7 8.8 11.4 1.8 1.6 20.4% 14.3%
TPIA SELL * 1.4 5150 -1.0 -14.2 5412 5480 6.4 21.0 18.9 3.5 3.1 16.8% 16.2%
BRPT HOLD 0.5 1910 -4.0 -15.5 2458 2400 25.7 13.1 11.6 1.0 0.9 7.6% 7.4%
MEDC BUY 0.3 940 (6.5) 5.6 1367 1500 59.6 12.9 10.1 0.9 0.8 6.9% 8.0%
Average 13.7 12.6 1.7 1.5 12.2% 11.1%
Utilities
JSMR BUY 0.5 4650 (6.1) (27.3) 5773 7500 61.3 14.0 10.6 2.0 1.8 14.3% 16.8%
Metal
ANTM BUY 0.3 855 (4.5) 36.8 1263 1050 22.8 77.7 38.9 1.2 1.2 1.6% 3.1%
INCO BUY 0.6 4080 (4.9) 41.2 5300 5200 27.5 28.6 27.8 1.5 1.5 5.3% 5.4%
TINS BUY 0.1 815 (3.6) 5.2 1290 1150 41.1 12.3 10.1 1.0 0.9 8.1% 9.4%
Average 39.6 25.6 1.2 1.2 5.0% 6.0%
Coal
DOID BUY 0.1 685.0 -4.2 -4.2 1528.3 1450 111.7 4.7 4.3 1.6 1.2 34.4% 27.3%
ITMG BUY 0.5 26400 (5.0) 27.5 33271 32500 23.1 9.6 9.0 2.0 1.9 20.8% 20.8%
ADRO BUY 0.9 1830 (4.2) (1.6) 2631 2400 31.1 6.7 6.3 1.0 0.9 15.0% 14.5%
PTBA BUY * 0.9 4850 (0.8) 97.2 4650 4450 -8.2 13.1 14.7 3.7 3.2 28.1% 22.0%
Average 8.5 8.6 2.1 1.8 24.6% 21.2%
Plantation
AALI HOLD 0.3 11875 (3.3) (9.7) 13320 13500 13.7 10.6 10.4 1.2 1.1 11.3% 11.1%
LSIP BUY 0.1 1180 (2.9) (16.9) 1364 1420 20.3 10.4 10.0 0.9 0.9 8.7% 8.8%
SIMP HOLD 0.1 496 (4.6) 6.9 510 520 4.8 22.5 19.1 0.5 0.5 2.3% 2.7%
Average 14.5 13.2 0.9 0.8 7.5% 7.5%
Source: SSI Research, Bloomberg
Note: GIAA, PGAS, ITMG, ADRO, MEDC, BRPT, INCO, DOID, TPIA report in USD.
Note: *: Under Review
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Regional Indices 1D Change
Points 1D 3D 1W 1M 3M YTD 1YR High Low
World (12.38) 2,127 (0.58) (1.67) (1.82) (0.33) (0.40) 1.14 8.96 2,250 1,925
U.S. (S&P) (11.35) 2,822 (0.40) (1.25) (1.00) 0.74 3.36 5.55 14.44 2,873 2,417
U.S. (DOW) (125.44) 25,188 (0.50) (1.55) (1.23) 0.67 1.16 1.90 14.52 26,617 21,600
Europe (16.60) 3,410 (0.48) (2.40) (2.11) (1.30) (4.38) (2.69) (1.19) 3,709 3,262
Emerging Market (19.07) 1,043 (1.79) (3.28) (3.38) (3.01) (10.74) (9.94) (0.98) 1,279 1,039
FTSE 100 (24.56) 7,642 (0.32) (1.73) (0.28) (0.25) (0.89) (0.59) n/a 7,904 6,867
CAC 40 (2.36) 5,412 (0.04) (1.63) (1.18) (0.31) (2.32) 1.88 5.67 5,657 4,995
Dax (65.61) 12,359 (0.53) (2.18) (1.90) (1.45) (4.77) (4.33) 1.59 13,597 11,727
Indonesia (215.93) 5,861 (3.55) (3.83) (3.93) (1.39) (1.44) (7.78) 1.03 6,693 5,558
Japan 249.50 22,113 1.17 (2.14) (2.42) (2.14) (3.29) (2.86) 13.19 24,129 19,240
Australia 32.43 6,287 0.56 (0.17) 0.53 0.30 2.47 3.66 9.71 6,314 5,639
Korea 5.34 2,255 0.27 (2.14) (1.98) (2.44) (8.95) (8.63) (3.41) 2,607 2,239
Singapore (39.44) 3,245 (1.20) (2.83) (0.62) (0.46) (8.90) (4.63) (1.91) 3,642 3,176
Malaysia (22.41) 1,783 (1.24) (1.19) 0.20 3.57 (3.63) (0.75) 0.69 1,896 1,658
Hong Kong (430.05) 27,937 (1.52) (1.49) 0.42 (2.06) (11.43) (6.63) 2.52 33,484 26,952
China (9.44) 2,786 (0.34) 1.52 2.98 (1.60) (12.23) (15.76) (13.95) 3,587 2,691
Taiwan (234.76) 10,749 (2.14) (2.95) (2.50) (1.06) (1.86) 1.00 5.12 11,270 10,189
Thailand (16.52) 1,706 (0.96) (0.08) (0.36) 3.80 (3.40) (2.72) 9.26 1,853 1,556
Philipines (169.71) 7,635 (2.17) (2.75) (2.33) 3.19 (1.51) (10.79) (4.11) 9,078 6,924
Monetary Indicators 1D Change
Points 1W 1M 3M YTD 1YR High Low
JIBOR Overnight (%) 0.01 5.06 0.61 (8.99) 14.15 29.64 14.91 6.06 3.89
Foreign Reserve (US$bn) n/a 119.84 n/a (2.50) (4.89) (7.96) (2.64) 131.98 118.31
Inflation Rate (%) n/a 0.28 n/a (52.54) 180.00 (60.56) 27.27 0.71 (0.07)
US Fed Rate (%) 0.00 2.00 0.00 0.00 14.29 33.33 60.00 2.00 1.25
Indo Govt Bond Yld (10yr) - % 0.00 7.94 2.18 5.91 12.00 25.59 14.88 7.94 6.09
Exchange Rate (per US$) 1D Change
Currency Points 1D 3D 1W 1M 3M YTD 1YR High Low
Indonesia 120.00 14595 (0.82) (1.10) (0.79) (1.44) (7.04) (7.04) (8.54) 14,625 13,145
Japan 0.07 110.77 (0.05) 0.29 0.56 1.38 1.74 1.74 (1.02) 114.73 104.56
UK (0.00) 1.28 (0.11) (0.52) (1.41) (3.61) (5.59) (5.59) (1.60) 1.44 1.27
Euro (0.00) 1.14 (0.09) (1.10) (1.72) (2.66) (5.04) (5.04) (3.23) 1.26 1.14
China 0.04 6.89 (0.65) (0.81) (0.55) (2.90) (5.58) (5.58) (3.19) 6.89 6.24
Commodities Indicators 1D Change
Spot Points 1D 3D 1W 1M 3M YTD 1YR High Low
Oil 0.26 67.46 0.39 0.97 (2.47) (5.00) (4.93) 11.65 41.75 75.27 45.58
CPO (45.00) 2,230.00 (1.98) (2.36) (0.27) 3.29 (6.34) (10.91) (17.01) 2,876.00 2,140.00
Rubber 0.50 674.50 0.07 0.07 0.07 0.22 5.06 (7.92) (17.94) 857.50 610.50
Coal 1.50 113.50 1.34 1.75 1.25 (0.66) 11.66 11.66 21.91 118.00 90.60
Iron Ore (0.14) 64.03 (0.22) 0.95 5.43 8.21 (0.59) (9.54) (20.03) 80.91 57.85
Tin (104.00) 19,395.00 (0.53) (0.34) (1.02) (2.33) (7.81) (3.49) (5.02) 22,104.00 18,866.50
Nickel (265.00) 13,555.00 (1.92) (3.52) (0.95) (3.01) (3.56) 6.23 27.16 16,690.00 10,215.00 Copper (36.50) 6,153.50 (0.59) (0.32) 0.33 (1.34) (11.36) (15.09) (4.02) 7,348.00 5,988.00
Gold 1.80 1,194.00 0.15 (1.57) (1.42) (3.80) (9.42) (8.60) (7.10) 1,365.80 1,191.80
Source: SSI Research, Bloomberg
Last Price
Last Price Change (%) 1 Year
Change (%) 1 Year
Last Price
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
www.samuel.co.id Page 7 of 7
Research Team
Andy Ferdinand, CFA Head of Equity Research, Strategy,
Banking, Consumer (Staple) [email protected] +6221 2854 8148
Ahmad Mikail Economist [email protected] +6221 2854 8396
Muhamad Makky Dandytra, CFTe Technical Analyst [email protected] +6221 2854 8382
Akhmad Nurcahyadi, CSA
Property, Construction, Cement, Toll Road, Aviation, Automotive, Mining Contractor, Cigarette, Healthcare
[email protected] +6221 2854 8144
Arandi Ariantara Oil and Gas, Chemical, Coal, Telco,
Telco Retail [email protected] +6221 2854 8392
Marlene Tanumihardja Consumer (Poultry, Retail, Small Cap),
Pulp and Paper, Media [email protected] +6221 2854 8387
Sharlita Lutfiah Malik Metal, Telco Infrastructure, Plantation,
Small Cap [email protected] +6221 2854 8339
Private Wealth Management
Evelyn Satyono Head of PWM / Institutional Sales [email protected] +6221 2854 8380 Muhamad Alfatih CSA, CTA, CFTe Senior Technical Portfolio Advisor [email protected] +6221 2854 8129 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
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
Online Trading Sales Team
Nugroho Nuswantoro Head of Marketing Online Trading [email protected] +6221 2854 8372
Wahyu Widodo Marketing [email protected] +6221 2854 8371
Aben Epapras Marketing [email protected] +6221 2854 8389
