DAILY. Minim Sentimen, IHSG Diperkirakan Flat. Market DAILY RESEARCH. 2 September 2021

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DAILY

RESEAR

CH

Market

Market Activity Market Index : 6,090.9 Index Movement : -59.4 -0.97% Market Volume : 21,495 Mn shrs Market Value : 9,952 Bn rupiah

Last Close +/- % Leading Movers BDMN 2,580 230 9.8 ADRO 1,320 60 4.8 UNVR 4,100 50 1.2 BBCA 32,825 75 0.2 Lagging Movers ARTO 14,500 -675 -4.4 TLKM 3,340 -60 -1.8 BUKA 890 -55 -5.8 EMTK 2,090 -80 -3.7

Foreign Net Buy / Sell (Regular Market) Net Buy (IDR bn) Net Sell (IDR bn)

BBCA 51 TOWR 22 BUKA 49 ASII 20 BMRI 43 BRPT 16 LPPF 39 DMMX 15 BBYB 31 INKP 15 Money Market Last Close +/- % USD/IDR 14,283 15.0 -0.1 JIBOR O/N 5.9 0.0

Dual Listing Securities Last Close +/- % TLKM 23.6 -0.2 -0.8 EIDO 21.3 0.1 0.3 Global Indices Last Close +/- % DJIA 35,313 -48 -0.14 S&P 500 4,524 1 0.03 Euro Stoxx 4,227 31 0.74 MSCI World 3,152 10 0.33 STI 3,088 33 1.07 Nikkei 28,451 -5,456 1.29 Hang Seng 26,028 149 0.6 Commodities Last Close +/- % Brent Oil 71.6 0.0 0.58 Coal (ICE) 173.1 -1.2 0.02 CPO Malay 4,176 -78.0 -1.83 Gold 1,814 0.3 -0.06 Nickel 19,352 -215.5 -1.10 Tin 33,907 closed -Changes Changes Changes Changes Changes Wednesday, 01 Sep 2021

Minim Sentimen, IHSG Diperkirakan Flat

Bursa AS semalam ditutup bervariasi; DJIA turun -0.14% ke level 35,312 sementara

S&P500 (+0.03%) dan Nasdaq (+0.33%). Pasar wait and see mengawali September

serta wait and see atas data tenaga kerja minggu ini. Dari pasar komoditas, harga

minyak Brent ditutup pada level USD 71.3/barel (-0.5%); emas di level USD

1,816/toz (-0.1%) dan nikel pada level USD 19,353/ton (-1.2%).

EIDO ditutup menguat +0.33%, sementara IHSG melemah -0.97% pada Rabu (01/9)

ke level 6,090.9 dengan ARTO, TLKM dan BUKA sebagai top lagging movers. Net buy

asing di pasar reguler terpantau mencapai IDR 181.6 miliar. Saham yang

mencatatkan nilai net sell tertinggi adalah TOWR (IDR 21.8 miliar), ASII (IDR 20.3

miliar), dan BRPT (IDR 16.4 miliar) sementara net buy asing tertinggi BBCA (IDR 51.3

miliar), BUKA (IDR 48.8 miliar), dan BMRI (IDR 42.9 miliar). Sepanjang minggu ini

(Senin-Rabu), IHSG menguat +0.83% dengan total net buy asing di pasar reguler

mencapai IDR 1.4T.

Sebanyak 10,337 kasus COVID-19 baru dilaporkan di Indonesia kemarin (01/9)

(Selasa: 10,534), dengan 16,394 pasien sembuh (Selasa: 16,781) dan 653 pasien

meninggal (Selasa: 532). Secara kumulatif, jumlah total kasus COVID-19 yang

ditemukan di Indonesia telah mencapai 4,100,138 kasus dengan tingkat

kesembuhan (recovery rate) sebesar 92.1% per 01 September 2021 (31 Agustus

2021: 91.9%). Angka vaksinasi dosis 1 bertambah 833,667 (Selasa: 816,392, total:

63.9 juta) sementara vaksinasi dosis 2 bertambah tumbuh 488,009 (Selasa: 540,751,

total: 36.3 juta).

Rilis data terkini adalah Inflasi Indonesia per Aug-21 yang tumbuh +1.59%

yoy/+0.03% qoq (prev: +1.52% yoy/+0.08% qoq). Kami menilai, bursa global saat ini

cenderung wait and see mengawali bulan September sementara bursa domestik

minim sentimen setelah rilis data inflasi. Selain itu, mayoritas harga komoditas

masih cenderung melemah. IHSG pada hari ini kami perkirakan bergerak flat

cenderung melemah.

DAILY RESEARCH

2 September 2021

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Equity Research│2 September 2021

2

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)

1 -S ep -2 0 1 -O ct-2 0 1 -N o v-2 0 1 -D ec -2 0 1 -J an -2 1 1 -F eb -2 1 1 -M ar -2 1 1 -A p r-2 1 1 -M a y-2 1 1 -J u n -2 1 1 -J u l-2 1 1 -A u g-2 1 0 10 20 30 40 50 60 70 80 90 1-Sep -2 0 1-Oc t-2 0 1 -N o v-2 0 1 -D ec -2 0 1-Ja n -2 1 1 -F eb -2 1 1 -M ar -2 1 1 -A p r-2 1 1 -M ay -2 1 1 -J u n -2 1 1 -J u l-2 1 1-Au g-21 40 60 80 100 120 140 160 180 1 -S ep -2 0 1 -O ct-2 0 1 -N o v-2 0 1-D ec -2 0 1 -J an -2 1 1 -F eb -2 1 1 -M ar -2 1 1-Ap r-21 1 -M a y-2 1 1 -J u n -2 1 1 -J u l-2 1 1-Au g-21 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 1 -S ep -2 0 1 -O ct-2 0 1 -N o v-2 0 1 -D ec -2 0 1 -J an -2 1 1 -F eb -2 1 1 -M ar -2 1 1 -A p r-2 1 1 -M a y-2 1 1 -J u n -2 1 1-Ju l-2 1 1-Au g-21 4,000 4,500 5,000 5,500 6,000 6,500 7,000 7,500 8,000 1 -S ep -2 0 1 -O ct-2 0 1-N ov -2 0 1 -D ec -2 0 1 -J an -2 1 1 -F eb -2 1 1 -M ar -2 1 1 -A p r-2 1 1 -M a y-2 1 1-Ju n-21 1 -J u l-2 1 1 -A u g-2 1 10,000 12,000 14,000 16,000 18,000 20,000 22,000 1-Sep -2 0 1 -O ct-2 0 1 -N o v-2 0 1 -D ec -2 0 1 -J an -2 1 1 -F eb -2 1 1-M ar -2 1 1-Ap r-21 1 -M a y-2 1 1 -J u n -2 1 1 -J u l-2 1 1 -A u g-2 1 1,400 1,500 1,600 1,700 1,800 1,900 2,000 2,100

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 %

9/1/2021 4,100,138 0.25 10,337 - 2,947,646 - 133,676 653 1,018,816 75.15 8/31/2021 4,089,801 0.26 10,534 - 2,947,646 - 133,023 532 1,009,132 75.33 8/30/2021 4,079,267 0.13 5,436 (26.81) 2,947,646 - 132,491 568 999,130 75.51 8/29/2021 4,073,831 0.18 7,427 (26.10) 2,947,646 - 131,923 551 994,262 75.59 8/28/2021 4,066,404 0.25 10,050 (20.35) 2,947,646 - 131,372 591 987,386 75.72 8/27/2021 4,056,354 0.31 12,618 (25.33) 2,947,646 - 130,781 599 977,927 75.89 8/26/2021 4,043,736 0.42 16,899 (9.49) 2,947,646 - 130,182 889 965,908 76.11 Average 10,472 - 626 75.61

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Equity Research│2 September 2021

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Stock Rec. 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 BBCA BUY 11.0 BBRI BUY 6.5 3,890 BMRI BUY 3.8 6,000 BBNI BUY 1.3 5,325 BBTN BUY 0.2 1,405 Average Consumer (Staples) ICBP BUY 1.3 INDF BUY 0.8 6,350 KLBF BUY 0.9 1,365 UNVR BUY 2.1 4,100 SIDO BUY 0.3 795 Average Cigarette HMSP SELL 1.6 1,000 GGRM BUY 0.9 Average Healthcare MIKA BUY 0.5 2,380 SILO BUY 0.2 HEAL BUY 0.2 1,160 Average Poultry CPIN BUY 1.4 6,325 JPFA BUY 0.3 1,805 32,825 40,500 36,437 23.4 29.8 25.4 4.4 4.0 14.7 15.7 5,300 4,807 36.2 24.8 14.6 2.6 2.3 10.3 15.8 8,000 7,887 33.3 16.3 11.8 1.5 1.4 9.1 12.1 8,500 7,105 59.6 33.3 7.7 0.9 0.7 2.6 9.7 2,300 2,017 63.7 9.2 5.8 0.7 0.7 8.1 11.4 19.6 8.4 1.0 0.9 6.6 11.1 8,400 12,000 11,250 42.9 19.4 14.9 3.9 3.3 19.9 22.1 9,500 8,478 49.6 11.4 11.5 1.4 1.3 11.9 11.0 1,750 1,726 28.2 23.1 21.0 3.7 3.4 16.0 16.0 5,900 5,331 43.9 21.8 21.6 31.8 31.3 145.7 145.0 970 940 22.0 25.6 22.0 7.4 6.9 29.1 31.5 20.3 18.2 9.6 9.2 44.5 45.1 870 1,198 -13.0 13.5 13.7 3.8 3.8 28.5 28.1 33,350 38,240 35,112 14.7 7.6 7.4 1.1 1.0 14.2 13.9 10.5 10.5 2.5 2.4 21.4 21.0 3,500 3,073 47.1 39.9 37.6 7.0 6.3 17.5 16.8 8,000 10,800 10,544 35.0 111.1 30.7 2.2 2.1 2.0 6.8 1,380 1,426 19.0 10.6 9.2 1.4 1.2 13.3 13.5 53.9 25.8 3.5 3.2 10.9 12.4 7,300 7,348 15.4 35.9 27.6 4.9 4.5 13.7 16.4 2,400 2,512 33.0 22.6 11.9 1.8 1.6 8.0 13.1

MAIN BUY 0.0 735 1,380 1,098 87.8 n/a 10.8 0.8 0.7 -0.9 6.8

WMUU BUY 0.0 161 370 370 129.8 n/a 6.8 n/a 1.6 n/a 23.1

Average 29.3 16.8 2.5 2.3 7.0 12.1

Retail

MAPI BUY 0.2 760 975 853 28.3 n/a 21.1 2.4 4.9 -10.4 23.1 RALS BUY 0.1 645 900 736 39.5 n/a 13.7 1.1 1.1 -1.5 7.7 ACES BUY 0.3 1,410 1,900 1,522 34.8 30.0 22.0 4.8 4.3 16.1 19.6 LPPF SELL 0.1 2,950 1,100 2,081 -62.7 n/a 22.9 5.0 7.8 -35.0 34.1

Average 30.0 19.0 2.7 3.4 1.4 16.8

Pulp and Paper

INKP SELL 0.6 7,775 7,000 N/A -10.0 8.9 10.7 0.7 0.6 7.6 6.0

Average 8.9 10.7 0.7 0.6 7.6 Media MNCN BUY 0.2 845 1,650 1,355 95.3 5.3 4.4 0.7 0.6 13.6 14.6 SCMA HOLD 0.4 2,020 2,200 2,331 8.9 25.3 23.0 6.2 5.4 24.4 23.7 Average 15.3 13.7 3.4 3.0 19.0 19.1 Telco EXCL BUY 0.4 2,670 3,000 3,333 12.4 76.3 38.7 1.5 1.5 1.9 3.8

ISAT BUY 0.5 5,650 7,250 7,271 28.3 n/a 65.7 2.4 0.3 -5.6 0.4

TLKM BUY 4.5 3,340 4,050 4,220 21.3 15.9 14.8 2.7 2.6 17.2 17.7 Average 46.1 39.7 2.2 1.4 4.5 7.3 Telco Retail ERAA BUY 0.1 595 1,625 801 173.1 3.2 2.6 0.4 0.3 11.0 11.9 Telco Infra TBIG SELL 0.9 3,020 1,550 3,181 -48.7 62.9 59.2 10.4 9.2 16.5 15.6 TOWR SELL 0.9 1,350 1,300 1,599 -3.7 23.3 21.1 6.3 5.3 27.2 25.3

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Equity Research│2 September 2021

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Auto ASII BUY 2.9 5,175 6,750 6,577 30.4 11.6 10.5 1.0 1.0 9.0 9.6 Average 11.6 10.5 1.0 1.0 9.0 Mining Contracting UNTR BUY 1.0 20,050 31,000 27,456 54.6 10.8 8.0 1.2 1.1 11.2 13.8 Average 10.8 8.0 1.2 1.1 11.2 Property BSDE BUY 0.3 940 1,350 1,419 43.6 14.0 10.6 0.6 0.5 4.0 4.9 PWON BUY 0.3 454 530 595 16.7 34.9 12.3 0.9 1.5 2.6 12.1 ASRI SELL 0.0 160 130 218 -18.8 12.3 5.7 0.3 0.3 2.3 4.7 LPKR HOLD 0.1 132 140 193 6.1 n/a n/a 0.3 0.3 -0.5 -0.2 SMRA BUY 0.2 805 1,200 1,046 49.1 47.4 27.8 1.6 1.5 3.4 5.4 CTRA BUY 0.2 880 1,100 1,325 25.0 21.0 16.3 1.1 1.0 5.1 6.2

Average 25.9 14.5 0.8 0.8 2.8 5.5

Industrial Estate

SSIA BUY 0.0 484 700 810 44.6 n/a 44.0 0.6 0.6 -1.6 1.3 DMAS BUY 0.1 187 250 252 33.7 12.5 11.0 1.2 1.4 9.6 12.7

KIJA SELL 0.0 169 150 N/A -11.2 15.4 13.0 0.6 0.4 4.0 3.4

Average 13.9 22.7 0.8 0.8 4.0 5.6

Construction

PTPP BUY 0.1 910 1,900 1,334 108.8 41.4 7.4 0.4 0.4 0.9 4.9 ADHI BUY 0.0 730 1,800 1,084 146.6 30.4 7.1 0.5 0.4 1.5 6.1 WSKT BUY 0.2 825 1,400 1,003 69.7 n/a n/a 0.7 0.8 -44.6 -7.4 WIKA BUY 0.1 945 1,400 1,410 48.1 9.8 6.4 0.5 0.5 5.0 7.1 Average 27.2 7.0 0.5 0.5 -9.3 2.6 Cement INTP BUY 0.6 11,100 16,250 14,136 46.4 30.8 25.6 1.8 1.8 5.8 6.9 SMGR BUY 0.7 9,025 13,050 11,930 44.6 23.7 19.0 1.5 1.4 6.3 7.4 Average 27.3 22.3 1.6 1.6 6.1 7.2 Precast WSBP BUY 0.0 135 230 140 70.4 12.3 3.6 0.4 0.3 2.9 8.9 WTON BUY 0.0 236 450 349 90.7 21.5 6.4 0.6 0.6 2.9 8.9 Average 16.9 5.0 0.5 0.4 2.9 8.9

Oil and Gas

PGAS BUY 0.3 1,040 1,700 1,494 63.5 18.9 14.9 0.6 0.6 3.3 4.1 AKRA HOLD 0.2 3,870 4,000 4,207 3.4 16.8 15.4 1.8 1.7 10.6 11.0 MEDC BUY 0.2 476 1,090 882 129.0 n/a 6.5 0.7 0.6 -9.9 9.7

Average 17.9 12.2 1.0 1.0 1.3 8.3

Chemical

TPIA BUY 2.3 7,675 10,250 8,971 33.6 529.3 88.2 5.3 5.3 1.0 6.0 BRPT BUY 1.3 1,020 1,150 1,093 12.7 213.2 130.3 5.4 5.4 2.5 4.2 ESSA SELL 0.1 326 225 593 -31.0 n/a n/a 2.2 1.1 -20.0 -0.5

Average 371.2 109.2 4.3 3.9 -5.5 3.2

Utilities

JSMR BUY 0.4 3,910 5,000 5,102 27.9 59.2 19.6 1.2 1.1 2.0 5.6 Metal

ANTM BUY 0.8 2,390 3,230 3,328 35.1 38.5 23.4 3.0 2.8 7.7 11.7 MDKA HOLD 0.9 2,790 3,000 3,315 7.5 n/a 15.2 10.1 11.1 15.7 72.9 INCO BUY 0.7 5,025 6,700 6,459 33.3 43.3 26.7 1.7 1.6 3.9 6.1 TINS BUY 0.2 1,500 1,775 1,883 18.3 n/a 1704.5 2.1 2.5 -4.2 0.1

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Equity Research│2 September 2021

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Coal ITMG SELL 0.3 16,250 13,550 18,443 -16.6 27.9 5.3 1.5 1.2 5.4 22.1 ADRO BUY 0.6 1,320 1,530 1,698 15.9 7.4 12.3 0.9 0.8 12.8 6.6 PTBA BUY 0.3 2,180 2,900 2,758 33.0 10.2 8.8 1.5 1.2 14.6 14.2 Average 15.2 8.8 1.3 1.1 10.9 14.3 Plantation AALI BUY 0.2 8,600 12,300 11,934 43.0 19.9 14.2 0.9 0.8 4.4 5.9 LSIP BUY 0.1 1,105 1,370 1,563 24.0 10.8 8.8 0.8 0.7 7.5 8.3 TBLA BUY 0.1 785 980 990 24.8 6.5 5.3 0.6 0.5 8.9 10.3

SIMP SELL 0.1 432 388 N/A -10.2 39.3 25.4 0.5 0.5 1.2 1.8

SSMS BUY 0.1 845 1,500 1,465 77.5 24.9 10.7 1.8 1.6 7.4 15.0

Average 20.3 12.9 0.9 0.8 5.9 8.3

Source: SSI Research, Bloomberg

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Equity Research│2 September 2021

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Chg (Pts)

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

World 3,152 10.31 0.33 1.33 2.69 5.69 17.16 27.74 3,151 2,276 U.S. (S&P) 4,524 1.41 0.03 0.62 2.93 7.66 20.45 28.28 4,537 3,209 U.S. (DOW) 35,313 (48.20) (0.14) (0.26) 1.08 2.13 15.38 23.27 35,631 26,144 Europe 4,227 30.86 0.74 1.10 2.69 3.39 18.99 26.65 4,251 2,921 Emerging Market 1,312 3.77 0.29 3.66 2.71 (5.64) 1.64 17.18 1,449 1,053 FTSE 100 7,150 30.14 0.42 0.34 0.96 0.59 10.67 20.35 7,224 5,526 CAC 40 6,759 78.51 1.18 1.23 1.24 3.64 21.75 34.32 6,914 4,513 Dax 15,824 (10.80) (0.07) (0.23) 1.64 1.42 15.35 19.49 16,030 11,450 Indonesia 6,091 (59.37) (0.97) (0.36) (0.09) 0.98 1.87 14.66 6,505 4,755 Japan 28,451 361.48 1.29 2.62 2.41 (1.71) 3.67 22.38 30,715 22,879 Australia 7,527 (7.77) (0.10) (0.06) 0.48 4.29 14.27 24.14 7,633 5,763 Korea 3,207 7.75 0.24 1.91 (0.50) (0.53) 11.61 35.64 3,316 2,267 Singapore 3,088 32.79 1.07 (0.63) (2.32) (2.32) 8.58 21.57 3,237 2,421 Malaysia 1,587 (14.49) (0.90) 2.16 6.29 (0.69) (2.48) 3.21 1,696 1,452 Hong Kong 26,028 149.30 0.58 1.30 (0.79) (11.16) (4.42) 3.62 31,183 23,124 China 3,567 23.16 0.65 0.75 2.97 (0.84) 2.71 4.77 3,732 3,202 Taiwan 17,474 (16.30) (0.09) 2.51 (0.17) 1.80 18.61 37.60 18,034 12,150 Thailand 1,634 (4.27) (0.26) 2.12 7.17 1.05 12.77 24.21 1,646 1,187 Philipines 6,786 (69.50) (1.01) 1.60 5.27 (0.81) (4.95) 18.26 7,432 5,696

Foreign Reserves (US$Bn) 137.34 0.18 (1.05) 1.06 1.68 138.80 133.60

Inflation Rate (yoy, %) 1.59 1.68 1.33

Gov Bond Yld (10yr, %) 6.09 (12.36) 7.02 5.86

US Fed Rate (%) 0.25 0.25 0.25

Chg (Pts)

Indonesia 14,283 15.00 (0.11) 0.81 0.98 (0.02) (1.63) 2.03 14,950 13,865 Japan 110.05 0.04 (0.04) 0.04 (0.67) (0.45) (6.18) (3.52) 111.66 102.59 UK 1.38 0.00 0.01 0.52 (0.81) (2.82) 0.74 3.15 1.42 1.27 Euro 1.18 0.00 0.02 0.76 (0.24) (3.03) (3.07) (0.12) 1.23 1.16 China 6.46 (0.00) 0.01 0.24 0.03 (1.22) 1.04 5.70 6.86 6.36 Chg (Pts)

Oil (Brent) 71.59 (0.04) (0.06) (0.91) (6.21) 1.91 38.20 57.06 77.84 35.74 CPO 4,299 (74.00) (1.69) (5.08) (7.67) 8.29 10.49 52.07 4,839 2,745 Coal 173.10 3.10 1.82 4.09 13.32 50.20 115.03 229.09 172.00 50.00 Tin 33,550 (357.00) (1.05) 2.17 (3.17) 9.20 65.07 84.48 35,955 16,960 Nickel 19,332 (215.00) (1.10) 1.35 (1.13) 6.63 16.37 24.45 20,110 14,045 Copper 9,336 (184.50) (1.94) (0.43) (4.03) (8.88) 20.21 39.60 10,748 6,269 Gold 1,814 (0.08) (0.00) 1.19 0.02 (4.96) (4.45) (6.64) 1,974 1,677 Silver 24.16 0.02 0.10 2.55 (4.90) (14.22) (8.48) (11.96) 30 22

Source: Bloomberg, SSI Research

Change (%) 1 Year Change (%) 1 Year

Change (%) 1 Year

Commodity Indicators Last Price Regional Indices Last Price

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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│2 September 2021

Research Team

Suria Dharma Head of Equity Research, Strategy, Banking, Consumer Staples suria.dharma@samuel.co.id +6221 2854 8148 Lionel Priyadi Macro Strategy and Equity lionel.priyadi@samuel.co.id +6221 2854 8854

Fikri Permana Senior Economist fikri.permana@samuel.co.id +6221 2854 8144

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 Olivia Laura Anggita Healthcare, Property olivia.laura@samuel.co.id +6221 2854 8346

Farras Farhan Media, Poultry nashrullah.putra@samuel.co.id +6221 2854 8346

Calista Muskitta Retail, Research Associate calista.muskitta@samuel.co.id +6221 2854 8331 Ashalia Fitri Yuliana Research Associate ashalia.fitri@samuel.co.id +6221 2854 8189

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 Anthony Yunus Institutional Equity Sales anthony.yunus@samuel.co.id +6221 2854 8314 Henry Sutanto Institutional Equity Sales henry.sutanto@samuel.co.id +6221 2854 8329

Fachruly Fiater Sales Trader fachruly.fiater@samuel.co.id +6221 2854 8325

Lucia Irawati Sales Trader lucia.irawati@samuel.co.id +6221 2854 8173

Suryanti Salim Sales Trader suryanti.salim@samuel.co.id +6221 2854 8173

Muhammad Faisal Dealer m.faisal@samuel.co.id +6221 2854 8173

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

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

Julio Simangunsong Fixed Income Sales julio.natanael@samuel.co.id +6221 28548384

Equity Retail / Online 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

Damargumilang Head of Equity Retail damargumilang@samuel.colid +6221 2854 8309

Salt World Widjaja Retail Equity Sales salt@samuel.co.id +6221 2854 8163

Michael Alexander Equity Retail michael.alexander@samuel.co.id +6221 2854 8163