1 www.samuel.co.id
DAILY RESEARCH
Market
: 6,255.3 : +23.4 0.38% : 14,908 Mn shrs : 14,765 Bn rupiah Last Close +/- % ARTO 10,900 1525 16.3 MDKA 2,830 200 7.6 AMRT 880 80 10.0 BRIS 2,770 80 3.0 BBCA 33,950 -175 -0.5 CPIN 5,950 -250 -4.0 TLKM 3,170 -40 -1.2 MEGA 10,500 -550 -5.0Foreign Net Buy / Sell (Regular Market) Net Buy (IDR bn) Net Sell (IDR bn)
ANTM 390 ASII 144 BBRI 209 BBNI 75 MDKA 180 GGRM 51 INCO 85 BBCA 34 BBTN 22 ARTO 34 Money Market Last Close +/- % USD/IDR 14,118 53.0 -0.4 JIBOR O/N 5.9 0.0
Dual Listing Securities Last Close +/- % TLKM 22.5 -0.4 -1.9 EIDO 23.4 -0.2 -1.0 Global Indices Last Close +/- % DJIA 31,522 27 0.1 S&P 500 3,877 -30 -0.8 Euro Stoxx 3,700 -14 -0.4 MSCI World 2,788 -18 -0.7 STI 2,881 1 0.0 Nikkei 30,156 138 0.5 Hang Seng 30,320 -325 -1.1 Commodities Last Close +/- % Brent Oil 65 2.3 3.7 Coal (ICE) 79 -0.3 -0.4 CPO Malay 3,544 22.0 0.6 Nickel 19,467 -97.8 -0.5 Tin 29,055 315.0 1.1 Changes Changes Leading Movers Lagging Movers Changes Changes Changes Market Value Market Activity Monday, 22 Feb 2021 Market Index Index Movement Market Volume
Minim Sentimen, IHSG Rawan Tertekan
Semalam bursa AS tutup variatif: Dow Jones +0.09%; S&P 500 0.77% dan Nasdaq
-2.46%. 10-year bond yield di AS terus meningkat dari 1.09% pada 1 Feb 2021 mencapai
1.37% pada 22 Feb 2021 kemarin. Kenaikan bond yield menjadikan pasar saham
kurang atraktif.
Dari Asia, perdagangan kemarin beberapa bursa utama Asia ditutup variatif: Nikkei
+0.46 %, Kospi -0.9%, Shanghai -1.45% dan Hang Seng -1.06%. IHSG ditutup naik
+0.38% ke level 6,255.3 ditengah net buy asing sebesar IDR 516.4 miliar di pasar
reguler. EIDO index ditutup turun -0.97%. Nilai tukar rupiah turun hingga IDR
14,118/USD.
Pergerakan beberapa harga komoditas yang dapat diperhatikan: Brent +3.7%, Coal
-0.4%, CPO +0.6%, Nickel -0.5% dan Tin +1.1%. Hari ini akan ada rilis data M2 dalam
negeri bulan Jan-21 yang diperkirakan naik +13% yoy (previous: +12.4% yoy).
Pemerintah telah menghapus istilah Daftar Negatif Investasi dan menetapkan Daftar
Positif Investasi. Bidang usaha yang dibuka sebanyak 1,700 dengan aturan dibawah IDR
10 miliar hanya untuk UMKM, sementara modal asing di atas IDR 10 miliar. Kasus baru
Covid-19 dalam negeri Senin diumukan sebanyak 10,180 kasus (Minggu: 7,300 kasus)
dengan kesembuhan 9,918 kasus sehingga kasus ditutup mencapai 87.8%. Hingga kini
Indonesia telah mencatat total kasus Covid-19 mencapai 1.288 juta.
Hari ini Indeks Nikkei libur memperingati Emperor’s Birthday, sementara pagi ini
Indeks Kospi dibuka dan diperdagangkan di zona negatif -0.9%. Minim sentimen, IHSG
diperkirakan rawan tertekan
DAILY RESEARCH
MDKA
:
Bidik Produksi Tembaga 17.000 Ton
Telco Infra :
Berlomba mendapatkan 4,000 menara ISAT
WMUU
:
Genjot Produksi 10 kali lipat
Highlights
Equity Research│23 February 2021
COVID-19 Data
Indonesia
7 Day Running Covid-19 Data
Total
1D Change Daily 1D Change
Total
Daily
Total
Daily
Total
Closed Cases
Cases
%
Cases
%
Recovered Recovered Deaths
Deaths Active Cases
%
2/22/2021 1,288,833 0.80 10,180 39.45 1,096,994 9,918 34,691 202 157,148
87.81
2/21/2021 1,278,653 0.57 7,300 (9.36) 1,087,076 8,236 34,489 173 157,088
87.71
2/20/2021 1,271,353 0.64 8,054 (24.12) 1,078,840 9,835 34,316 164 158,197
87.56
2/19/2021 1,263,299 0.85 10,614 17.42 1,069,005 10,783 34,152 183 160,142
87.32
2/18/2021 1,252,685 0.73 9,039 (6.69) 1,058,222 10,546 33,969 181 160,494
87.19
2/17/2021 1,243,646 0.79 9,687 (3.41) 1,047,676 8,002 33,788 192 162,182
86.96
2/16/2021 1,233,959 0.82 10,029 55.20 1,039,674 7,609 33,596 229 160,689
86.98
Average
9,272
9,276
189
87.36
Source: SSI Research, Bloomberg
COMMODITIES
Gold: Gold 100 Oz Futures (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)
17 -F eb -2 0 17 -M ar -2 0 17 -Ap r-20 17 -M ay -2 0 17 -J un -2 0 17 -J ul -2 0 17 -A ug -2 0 17 -S ep -2 0 17 -O ct-20 17 -N ov -2 0 17 -D ec -2 0 17 -J an -2 1 17 -F eb -2 1 0 10 20 30 40 50 60 70 17 -F eb -2 0 17 -M ar -2 0 17 -A pr -2 0 17 -M ay -2 0 17 -J un -2 0 17 -J ul -2 0 17 -Au g-20 17 -S ep -2 0 17 -O ct-20 17 -N ov -2 0 17 -D ec -2 0 17 -J an -2 1 17 -F eb -2 1 40 50 60 70 80 90 100 17 -F eb -2 0 17 -M ar -2 0 17 -A pr -2 0 17 -M ay -2 0 17 -J un -2 0 17 -J ul -2 0 17 -A ug -2 0 17 -S ep -2 0 17 -Oc t-20 17 -N ov -2 0 17 -D ec -2 0 17 -J an -2 1 17 -F eb -2 1 1,500 2,000 2,500 3,000 3,500 4,000 4,500 0 0 0 0 0 0 0 0 0 1 1 4,000 4,500 5,000 5,500 6,000 6,500 7,000 0 0 0 0 0 0 0 0 20 0 0 1 1 10,000 11,000 12,000 13,000 14,000 15,000 16,000 17,000 18,000 19,000 20,000 17 -F eb -2 0 17 -M ar -2 0 17 -A pr -2 0 17 -M ay -2 0 17 -J un -2 0 17 -J ul -2 0 17 -Au g-20 17 -S ep -2 0 17 -Oc t-20 17 -N ov -2 0 17 -D ec -2 0 17 -J an -2 1 17 -F eb -2 1 1,400 1,500 1,600 1,700 1,800 1,900 2,000 2,100 2,200
Equity Research│23 February 2021
MDKA: Bidik 17.000 Ton
MDKA menargetkan untuk memproduksi 14.000 hingga 17.000 ton tembaga pada tahun ini, 160%-216% lebih
besar ketimbang realisasi tahun lalu, seiring dengan perkembangan pit Partolang. Berdasarkan laporan
kuartalannya, pada 2020, produksi tembaga MDKA mencapai 5.377 ton, dengan penjualan sebesar 5.472 ton.
(Bisnis Indonesia)
Comment:
Kami menilai target manajemen MDKA cukup optimis, mengingat realisasi volume produksi pada tahun
lalu hanya mencapai 5.377 ton, lebih kecil dari proyeksi SSI (5.600 ton). Pit Partolang, yang telah mulai
beroperasi pada Oktober 2020 dan ditargetkan mencapai kapasitas produksi penuh pada 2Q21, akan
menjadi faktor utama pendorong peningkatan produksi tembaga MDKA tahun ini. Dengan potensi
tambahan produksi dari pit Partolang, SSI akan merevisi proyeksi produksi tembaga MDKA untuk FY21F
yang awalnya sebesar 5.800 ton. MDKA: SELL: 15.4x PE '21E, 11.2x PBV '21E, TP: IDR 2,030
Telco Infra: Berlomba mendapatkan 4,000 menara ISAT
PT Tower Bersama Infrastructure Tbk (TBIG), PT Sarana Menara Nusantara Tbk (TOWR), dan PT
Telekomunikasi Indonesia Tbk (TLKM) atau Telkom berminat untuk membeli 4.000 menara telekomunikasi
milik PT Indosat Tbk (ISAT). Tiga emiten tersebut terus mengeksplorasi pengembangan bisnis menara melalui
mekanisme akuisisi. Seperti diketahui, Indosat telah mengumumkan akan melepas 4.000 menara dengan nilai
transaksi yang cukup besar, sehingga masuk kategori material. Sebelumnya, Director & Chief Operating
Officer Indosat Vikram Sinha mengatakan, pihaknya belum bisa merinci calon pembeli dan nilai divestasi aset
tersebut karena masih tahap penjajakan awal. (Investor Daily)
Comment:
Kami memperkirakan harga jual menara milik ISAT berkisar IDR 1.6 miliar hingga IDR 2.0 miliar per
menara, tergantung dari rasio kolokasinya (sampai saat ini, data rasio kolokasi menara ISAT belum
tersedia). Dengan demikian, total harga jual menara ISAT dapat mencapai IDR 6.4 trilun - IDR 8.0 triliun.
Dengan besarnya dana yang dibutuhkan, maka kami memproyeksikan akan ada pemenang ganda apda
lelang menara tersebut. Mengacu pada lelang sebelumnya, peluang terbesar didapat oleh TOWR dan
Mitratel yang merupakan dua perusahaan penyedia menara telekomunikasi terbesar di Indonesia. Telco
Equity Research│23 February 2021
WMUU: Genjot Produksi 10 kali lipat
PT Widodo Makmur Unggas (WMUU) telah merampungkan pembangunan rumah potong ayam (RPA) dan
siap memproduksi sebanyak 12,000 ekor ayam per jam. RPA baru ini akan memproduksi 10x lipat lebih
banyak daripada RPA sebelumnya. RPA baru WMUU yang terletak di Wonogiri ini diproyeksikan mampu
memotong 50.4 juta ekor pertahunnya. RPA terbaru ini diprediksikan akan menjadi RPA terbesar di Indonesia.
Untuk ekspansi tersebut, WMUU menggelontorkan dana sebesar IDR 600 miliar. (Kontan)
Comments:
Dengan hadirnya RPA baru tersebut, kapasitas produksi karkas untuk tahun FY21F akan mencapai
150,000 ton pertahunnya. Kami memproyeksikan dengan hadirnya kapasitas baru ini produksi karkas
akan naik 10x lipat menjadi 90,000 ton pada tahun FY21F yang merefleksikan proyeksi penjualan
sebesar IDR 4,789 ( +409.0% yoy). Meski produksi telah naik 10x lipat, saat ini WMUU baru akan
menggarap sekitar 2.3% market share dari total 3.9 juta ton permintaan daging ayam nasional, yang
artinya ruang untuk menumbuhkan pangsa pasar masih cukup luas. WMUU: Under Review
Equity Research│23 February 2021
JCI Wgt Last price TP SSI TP Cons SSI Upside PE (x) PE (x) PBV (x) PBV (x) ROE (%) ROE (%)
(%) (IDR) (IDR) (IDR) (%) 20E 21E 20E 21E 20E 21E
Banks BMRI BUY 4.2 6,375 8,000 8,026 25.5 17.4 12.5 1.6 1.5 9.1 12.1 BBCA BUY 11.9 33,950 40,500 37,849 19.3 30.9 26.3 4.5 4.1 14.7 15.7 BBRI BUY 8.4 4,790 5,300 5,054 10.6 30.5 18.0 3.2 2.8 10.3 15.8 BBNI BUY 1.6 5,925 8,500 7,354 43.5 37.0 8.6 1.0 0.8 2.6 9.7 BBTN BUY 0.3 1,930 2,300 2,164 19.2 12.7 8.0 1.0 0.9 8.1 11.4 Average 25.7 14.7 2.3 2.0 9.0 12.9 Consumer (Staples) ICBP BUY 1.4 8,625 12,000 11,998 39.1 17.5 15.7 3.4 3.0 19.6 19.1 INDF BUY 0.8 6,050 9,500 8,685 57.0 10.9 11.0 1.3 1.2 11.9 11.0 KLBF BUY 1.1 1,570 1,750 1,836 11.5 26.6 24.2 4.3 3.9 16.0 16.0 UNVR BUY 3.8 6,875 9,800 8,120 42.5 31.0 30.4 41.4 40.2 133.7 132.2 SIDO BUY 0.3 800 920 921 15.0 26.6 23.5 7.4 7.0 27.9 29.7 Average 22.5 20.9 11.6 11.0 41.8 41.6 Cigarette HMSP HOLD 2.3 1,380 1,460 1,380 5.8 16.0 15.9 49.3 4.9 307.1 30.9 GGRM BUY 1.0 37,075 44,400 40,982 19.8 8.4 8.2 1.2 1.1 14.2 13.9 Average 12.2 12.0 25.2 3.0 160.7 22.4 Healthcare MIKA SELL 0.6 3,070 3,000 3,090 -2.3 60.2 56.9 9.2 8.4 15.3 14.7 SILO HOLD 0.1 5,500 5,800 5,800 5.5 392.9 166.7 1.5 1.5 0.4 0.9 HEAL BUY 0.2 4,100 5,000 4,756 22.0 37.6 32.5 5.0 4.4 13.3 13.5 Average 163.6 85.4 5.2 4.7 9.6 9.7 Poultry CPIN BUY 1.4 5,950 7,300 6,774 22.7 33.8 26.0 4.6 4.3 13.7 16.4 JPFA BUY 0.2 1,435 1,800 1,753 25.4 21.4 8.9 1.4 1.2 6.4 13.8
MAIN BUY 0.0 685 890 852 29.9 n/a 10.1 0.7 0.7 -0.9 6.8
Average 27.6 15.0 2.2 2.1 6.4 12.3
Retail
MAPI HOLD 0.2 795 850 952 6.9 n/a 79.5 1.4 8.5 -7.4 10.8
RALS BUY 0.1 725 900 801 24.1 n/a 15.4 1.2 1.2 -1.5 7.7
ACES BUY 0.4 1,610 1,900 1,824 18.0 34.3 25.2 5.5 4.9 16.1 19.6
LPPF SELL 0.0 1,270 1,100 1,086 -13.4 n/a 9.8 2.2 3.4 -35.0 34.1
Average 34.3 40.0 2.7 4.9 2.4 12.7
Pulp and Paper
INKP SELL 1.1 14,200 7,000 9,875 -50.7 16.3 19.6 1.2 1.2 7.6 6.0 Average 16.3 19.6 1.2 1.2 7.6 Media MNCN BUY 0.2 1,060 1,400 1,521 32.1 6.5 5.9 1.0 0.8 14.9 14.3 SCMA SELL 0.4 2,050 1,750 2,269 -14.6 25.9 23.3 5.3 4.5 20.6 19.2 Average 16.2 14.6 3.2 2.7 17.7 16.8 Telco EXCL BUY 0.3 2,130 3,300 3,446 54.9 9.7 21.5 1.1 1.0 11.0 4.8
ISAT SELL 0.5 5,650 3,100 5,386 -45.1 n/a 148.7 2.5 2.4 -3.2 1.6
TLKM BUY 4.5 3,170 4,300 4,179 35.6 14.2 13.5 2.5 2.4 17.8 17.8 Average 12.0 61.2 2.0 2.0 8.5 8.1 Telco Retail ERAA SELL 0.1 2,730 1,625 2,483 -40.5 14.6 11.9 1.6 1.4 11.0 11.9 Telco Infra TBIG SELL 0.7 2,160 1,550 2,034 -28.2 45.0 42.4 7.4 6.6 16.5 15.6 TOWR BUY 0.8 1,135 1,300 1,295 14.5 19.6 17.7 5.3 4.5 27.2 25.3 Average 32.3 30.0 6.4 5.5 21.9 20.4 Stock Rec.
Equity Research│23 February 2021
JCI Wgt Last price TP SSI TP Cons SSI Upside PE (x) PE (x) PBV (x) PBV (x) ROE (%) ROE (%)
(%) (IDR) (IDR) (IDR) (%) 20E 21E 20E 21E 20E 21E
Auto ASII BUY 3.3 5,700 6,750 6,789 18.4 12.8 11.6 1.2 1.1 9.0 9.6 Average 12.8 11.6 1.2 1.1 9.0 Mining Contracting UNTR BUY 1.2 23,250 31,000 30,572 33.3 12.5 9.3 1.4 1.3 11.2 13.8 Average 12.5 9.3 1.4 1.3 11.2 Aviation GIAA BUY 0.1 324 650 428 100.6 3.3 2.8 0.6 0.5 17.5 16.9 Average 3.3 2.8 0.6 0.5 17.5 Property BSDE SELL 0.4 1,260 1,250 1,444 -0.8 21.7 17.5 0.8 0.7 3.5 4.1 PWON SELL 0.4 555 525 631 -5.4 42.7 24.1 1.1 1.1 2.6 4.4 ASRI SELL 0.1 240 130 238 -45.8 18.5 8.6 0.4 0.4 2.3 4.7
LPKR SELL 0.2 206 140 197 -32.0 n/a n/a 0.5 0.5 -0.5 -0.2
SMRA SELL 0.2 935 800 975 -14.4 34.6 25.3 3.1 2.8 8.9 10.9
CTRA SELL 0.3 1,155 1,100 1,193 -4.8 27.5 21.4 1.4 1.3 5.1 6.2
Average 29.0 19.4 1.2 1.1 3.6 5.0
Industrial Estate
SSIA BUY 0.0 540 650 622 20.4 n/a 38.6 0.6 0.6 -1.6 1.6
DMAS HOLD 0.2 232 250 269 7.8 15.5 13.6 1.5 1.7 9.6 12.7 KIJA SELL 0.1 183 150 230 -18.0 16.6 14.1 0.7 0.5 4.0 3.4 Average 16.1 22.1 0.9 0.9 4.0 5.3 Construction PTPP BUY 0.2 1,690 1,900 1,967 12.4 76.8 13.7 0.7 0.7 0.9 4.9 ADHI BUY 0.1 1,440 1,800 1,806 25.0 60.0 14.0 0.9 0.8 1.5 6.1 WSKT BUY 0.3 1,495 2,200 1,682 47.2 n/a 14.4 0.9 0.8 -15.2 5.6 WIKA BUY 0.2 1,805 2,400 2,212 33.0 18.8 12.3 0.9 0.9 5.0 7.1 Average 51.9 13.6 0.9 0.8 -1.9 5.9 Cement INTP BUY 0.7 13,425 16,250 16,927 21.0 37.3 31.0 2.2 2.1 5.8 6.9 SMGR BUY 0.9 10,525 13,570 13,992 28.9 22.6 16.8 1.7 1.6 7.6 9.5 Average 29.9 23.9 1.9 1.9 6.7 8.2 Precast WSBP SELL 0.1 270 230 276 -14.8 24.5 7.3 0.7 0.6 2.9 8.9 WTON BUY 0.0 358 450 484 25.7 32.5 9.7 0.9 0.9 2.9 8.9 Average 28.5 8.5 0.8 0.8 2.9 8.9
Oil and Gas
PGAS BUY 0.5 1,455 1,700 1,700 16.8 26.5 20.8 0.9 0.9 3.3 4.1
AKRA BUY 0.2 3,450 3,800 3,951 10.1 15.9 14.0 1.6 1.5 10.1 10.9
MEDC BUY 0.3 700 1,090 901 55.7 n/a 9.6 1.0 0.9 -9.9 9.7
Average 21.2 14.8 1.2 1.1 1.2 8.2
Chemical
TPIA HOLD 2.6 10,250 10,250 9,925 0.0 706.9 117.8 7.1 7.1 1.0 6.0
BRPT SELL 1.4 1,150 1,120 1,205 -2.6 240.3 146.9 6.1 6.1 2.5 4.2
ESSA SELL 0.1 226 225 313 -0.4 n/a n/a 1.6 0.8 -20.0 -0.5
Average 473.6 132.3 4.9 4.6 -5.5 3.2 Utilities JSMR BUY 0.5 4,340 5,000 5,693 15.2 65.8 21.8 1.3 1.2 2.0 5.6 Metal ANTM HOLD 1.0 2,950 3,230 2,924 9.5 47.6 28.9 3.7 3.4 7.7 11.7 Stock Rec.
Equity Research│23 February 2021
JCI Wgt Last price TP SSI TP Cons SSI Upside PE (x) PE (x) PBV (x) PBV (x) ROE (%) ROE (%)
(%) (IDR) (IDR) (IDR) (%) 20E 21E 20E 21E 20E 21E
Coal ITMG HOLD 0.2 12,775 13,550 15,174 6.1 8.8 8.8 1.3 1.5 14.3 16.7 ADRO BUY 0.6 1,210 1,530 1,686 26.4 8.3 8.3 0.7 0.7 8.5 8.8 PTBA HOLD 0.5 2,740 2,830 3,024 3.3 14.6 10.0 2.1 1.7 14.3 16.5 Average 10.6 9.1 1.4 1.3 12.4 14.0 Plantation AALI BUY 0.3 11,025 13,800 14,913 25.2 31.8 20.0 1.1 1.1 3.5 5.3 LSIP HOLD 0.1 1,290 1,370 1,524 6.2 3.0 2.6 1.0 1.0 33.6 37.0 TBLA HOLD 0.1 940 980 1,135 4.3 7.8 6.3 0.9 0.8 11.0 12.2 SIMP SELL 0.1 426 388 472 -8.9 38.7 25.1 0.5 0.4 1.2 1.8 SSMS BUY 0.1 1,005 1,500 1,490 49.3 29.6 12.7 2.2 1.9 7.4 15.0 Average 22.2 13.3 1.1 1.0 11.3 14.3
Source: SSI Research, Bloomberg
Note: GIAA, INKP, PGAS, ITMG, ADRO, MEDC, BRPT, INCO, DOID, TPIA report in USD.
Equity Research│23 February 2021
Chg (Pts)
1D 1D 1W 1M 3M YTD 1YR High Low
World 2,788 (18.36) (0.65) (1.42) 1.18 9.77 3.65 16.04 2,838 1,579 U.S. (S&P) 3,877 (30.21) (0.77) (1.48) 0.91 8.97 3.21 16.14 3,950 2,192 U.S. (DOW) 31,522 27.37 0.09 0.20 1.69 7.72 2.99 8.72 31,653 18,214 Europe 3,700 (13.61) (0.37) (0.92) 2.70 6.84 4.14 (2.65) 3,827 2,303 Emerging Market 1,398 (32.36) (2.26) (3.09) 0.35 15.58 8.24 28.91 1,449 752 FTSE 100 6,612 (11.78) (0.18) (2.13) (1.24) 4.40 2.35 (10.69) 7,437 4,899 CAC 40 5,767 (6.11) (0.11) (0.33) 3.74 5.01 3.89 (4.35) 6,067 3,632 Dax 13,950 (43.19) (0.31) (1.13) 0.55 6.27 1.69 2.73 14,169 8,256 Indonesia 6,255 23.38 0.38 (0.24) (0.82) 10.66 4.62 6.34 6,505 3,912 Japan 30,156 138.11 0.46 0.24 5.32 18.13 9.88 28.94 30,715 16,358 Australia 6,767 (14.29) (0.21) (2.18) (0.50) 3.12 2.73 (5.22) 7,163 4,403 Korea 3,055 (25.07) (0.81) (3.43) (2.74) 17.37 6.31 41.23 3,266 1,439 Singapore 2,881 0.57 0.02 (1.72) (3.69) 1.14 1.32 (9.43) 3,201 2,208 Malaysia 1,570 (14.47) (0.91) (2.34) (1.65) (1.69) (3.49) 2.56 1,696 1,208 Hong Kong 30,320 (324.90) (1.06) 0.48 2.96 14.47 11.34 11.03 31,183 21,139 China 3,642 (53.72) (1.45) 3.11 0.99 6.68 4.88 19.83 3,732 2,647 Taiwan 16,410 68.78 0.42 4.48 2.44 18.25 11.39 40.42 16,579 8,524 Thailand 1,478 (22.37) (1.49) (2.93) (1.32) 4.06 1.99 (1.13) 1,562 969 Philipines 6,810 (116.07) (1.68) (2.14) (3.34) (5.13) (4.61) (7.59) 7,432 4,039
1D 1D 1W 1M 3M YTD 1YR High Low
Foreign Reserves (US$Bn) 138.00 1.55 3.25 1.55 4.78 138.00 120.97
Inflation Rate (yoy, %) 1.55 2.98 1.32
Gov Bond Yld (10yr, %) 6.65 1.96 8.38 5.86
US Fed Rate (%) 0.25 1.75 0.25
Chg (Pts)
1D 1D 1W 1M 3M YTD 1YR High Low
Indonesia 14,118 53.00 (0.38) (1.47) (0.59) 0.22 (0.48) (1.74) 16,625 13,865 Japan 105.01 (0.07) 0.07 0.98 (1.20) (0.47) (1.68) 5.44 111.71 101.19 UK 1.41 0.00 0.01 1.17 2.85 5.59 2.89 8.83 1.41 1.14 Euro 1.22 0.00 0.06 0.48 0.21 2.73 (0.43) 12.07 1.23 1.06 China 6.46 0.01 (0.11) (0.10) 0.26 1.87 0.97 8.75 7.18 6.42 Chg (Pts)
1D 1D 1W 1M 3M YTD 1YR High Low
Oil (Brent) 65.24 2.33 3.70 3.06 17.74 45.11 25.95 11.52 65.85 15.98 CPO 3,544 22.00 0.62 0.57 7.98 7.79 (1.56) 35.16 3,751 1,944 Rubber 1,022.50 28.50 2.87 7.07 12.36 4.98 9.07 30.25 1,262.50 685.00 Coal 78.70 (0.30) (0.38) (5.58) (9.38) 20.24 (2.24) 18.17 92.00 47.50 Tin 29,055 315.00 1.10 (1.92) 29.83 54.28 41.42 74.75 30,500 13,375 Nickel 19,493 (95.00) (0.48) 4.67 6.70 20.69 17.34 55.57 20,110 10,865 Copper 9,097 187.50 2.10 8.38 13.75 25.00 17.14 57.80 9,270 4,371 Gold 1,809 2.00 0.11 0.63 (2.53) (1.56) (4.43) 9.98 2,074 1,451 Source: Bloomberg, SSI Research
Change (%) 1 Year
Change (%) 1 Year
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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│23 February 2021
Research Team
Suria Dharma Head of Equity Research, Strategy, Banking,
Consumer Staples suria.dharma@samuel.co.id +6221 2854 8148 Ahmad Mikail Zaini Economist ahmad.mikail@samuel.co.id +6221 2854 8396 William Mamudi, CFTe, CMT Technical Analyst william.mamudi@samuel.co.id +6221 2854 8382 Muhamad Alfatih CSA, CTA, CFTe Senior Technical Portfolio Advisor m.alfatih@samuel.co.id +6221 2854 8129 Yosua Zisokhi Cement , Cigarette,Paper, Plantation,Telco
Infra, Chemical yosua.zisokhi@samuel.co.id +6221 2854 8387 Dessy Lapagu Aviation, Coal, Metal, Retail dessy.lapagu@samuel.co.id +6221 2854 8392 Selvi Ocktaviani Automotive,Construction, Mining Cont.,
Precast,Telco, Toll Roads selvi.ocktaviani@samuel.co.id +6221 2854 8393 Ilham Akbar Ind. Estate, Property,Oil & Gas ilham.akbar@samuel.co.id +6221 2854 8144 Nashrullah Putra Media, Poultry nashrullah.putra@samuel.co.id +6221 2854 8739 Olivia Laura Healthcare olivia.laura@samuel.co.id +6221 2854 8144 Calista Muskitta Research Associate calista.muskitta@samuel.co.id +6221 2854 8331
Equity Institutional Team
Benny Bambang Soebagjo Head of Institutional Equity Sales benny.soebagjo@samuel.co.id +6221 2854 8312 Ronny Ardianto Institutional Equity Sales ronny.ardianto@samuel.co.id +6221 2854 8399 Fachruly Fiater Institutional Equity Sales fachruly.fiater@samuel.co.id +6221 2854 8325 Henry Sutanto Institutional Equity Sales hensry.sutanto@samuel.co.id +6221 2854 8329 Sylviawati Customer Service sylviawati@samuel.co.id +6221 2854 8193
Private Wealth Management
Evelyn Satyono Head of PWM Equity Sales evelyn.satyono@samuel.co.id +6221 2854 8380 Clarice Wijana PWM Equity Sales clarice.wijana@samuel.co.id +6221 2854 8395 Gitta Wahyu Retnani PWM Equity Sales gitta.wahyu@samuel.co.id +6221 2854 8365 Wahyudi Budiyono Dealer wahyudi.budiyono@samuel.co.id +6221 2854 8152
Equity Retail Team
Kelvin Long Head of Retail Equity Sales kelvin.long@samuel.co.id +6221 2854 8150 Lucia Irawati Retail Equity Sales lucia.irawati@samuel.co.id +6221 2854 8173 Salt World Widjaja Retail Equity Sales salt@samuel.co.id +6221 2854 8163
Fixed Income Sales Team
R. Virine Tresna Sundari Head of Fixed Income virine.sundari@samuel.co.id +6221 2854 8170 Rudianto Nugroho Fixed Income Sales rudianto.nugroho@samuel.co.id +6221 2854 8306 Sany Rizal Keliobas Fixed Income Sales sany.rizal@samuel.co.id +6221 2854 8337 Rahmawati Fixed Income Sales rahmawati@samuel.co.id +6221 2854 8385
Online Trading Sales Team
Joseph Soegandhi Head of OLT joseph.soegandhi@samuel.co.id +6221 2854 8872 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
