DAILY RESEAR CH
Market
Market Activity
Market Index : 5,834.4
Index Movement : +0.5 0.01%
Market Volume : 17,187 Mn shrs Market Value : 9,397 Bn rupiah
Last
Close +/- %
Leading Movers
EMTK 2,200 170 8.4
ANTM 2,600 90 3.6
UNTR 21,900 475 2.2
SAMF 1,660 330 24.8
Lagging Movers
BBCA 31,950 -550 -1.7
TPIA 7,975 -250 -3.0
BRIS 2,010 -90 -4.3
MEGA 8,200 -300 -3.5
Foreign Net Buy / Sell (Regular Market) Net Buy (IDR bn) Net Sell (IDR bn)
ANTM 67 BBRI 132
UNTR 44 BBCA 87
JPFA 28 ASII 62
TLKM 17 MIKA 41
TPIA 12 PGAS 36 Money Market
Last
Close +/- %
USD/IDR 14,273 -10.0 0.1
JIBOR O/N 5.9 0.0
Dual Listing Securities Last
Close +/- %
TLKM 22.3 -0.2 -0.7
EIDO 21.4 0.1 0.3
Global Indices Last
Close +/- %
DJIA 34,061 -267 -0.8
S&P 500 4,128 -35 -0.9
Euro Stoxx 4,005 -2 0.0
MSCI World 2,929 -6 -0.2
STI 3,143 68 2.2
Nikkei 28,407 518 1.8
Hang Seng 28,594 400 1.4
Commodities Last
Close +/- %
Brent Oil 69 -0.7 -1.1
Coal (ICE) 100 1.4 1.4
CPO Malay 4,829 0.0 0.0
Nickel 17,942 56.0 0.3
Tin 30,455 560.0 1.87
Changes Changes
Changes
Changes
Changes Tuesday, 18 May 2021
IHSG Berpeluang Melemah di Tengah Marak Sentimen Negatif
Bursa saham AS pada perdagangan semalam ditutup melemah. Indeks Dow turun - 0.78%, S&P500 -0.85% dan Nasdaq -0.56%. Pelemahan terjadi di tengah kekhawatiran adanya lonjakan inflasi ditengah usaha AS melakukan reopening ekonominya. Jika terjadi inflasi, yang diawali dengan tingginya harga komoditas, maka dapat memicu Federal Reserve untuk meningkatkan suku bunganya. Di sisi lain, rilis data penjualan rumah AS bulan lalu turun -9.5% yoy juga menjadi sentimen negatif. Penjualan rumah hanya mencapai 1.57 juta unit, dibawah estimasi konsensus 1.7 juta unit. Yield obligasi 10 tahun masih tertahsn di 1.64%.
Dari pasar komoditas, mayoritas mengalami kenaikan. Batubara +1.3%, timah +1.2%, nikel +0.5%, CPO +5.0%. Sedangkan harga minyak turun, dengan Brent -1.4%
dan WTI -1.2%. Pelemahan harga minyak terjadi akinat adanya isu kesepakatan AS- Iran tentang nuklir yang membuat adanya spekulasi sanksi terhadap Iran dihapuskan dan akan menambah suplai minyak global.
Perkembangan kasus COVID-19 di Indonesia, terjadi kasus baru 4,182 kasus pada hari kemarin, sedangkan kasus sembuh mencapai 5,628, sehingga total kasus aktif mencapai 87,514 kasus, masih tertinggi ke 5 di Asia. Vaksinasi tahap 1 baru mencapai 13.9 juta penduduk dan vaksinasi tahap 2 mencapai 9.2 juta penduduk.
Presiden Joko Widodo mengigatkan adanya potensi gelombang kedua pandemI COVID-19 setelah libur lebaran. Meski demikian, ada sentimen positif dari segera dimulainya vaksinasi gotong royong dengan vaksin buatan Sinofarm.
Masih banyaknya sentimen negatif membuat kami memproyeksikan IHSG dapat bergerak dengan kecenderungan melemah pada hari ini. Indeks EIDO ditutup +0.33% semalam. Dan pagi ini indeks Nikkei terpantau -1.9% namun Kospi naik +1.2%.
DAILY RESEARCH
HEAL : Kenaikan Laba Bersih +85.3% dan Rencana Stock Split 19 May 2021
Highlights
Equity Research│19 May 2021
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-Mar-20 1-Apr-20 1-May-20 1-Jun-20 1-Jul-20 1-Aug-20 1-Sep-20 1-Oct-20 1-Nov-20 1-Dec-20 1-Jan-21 1-Feb-21 1-Mar-21 1-Apr-21 1-May-21
0 10 20 30 40 50 60 70 80
1-Mar-20 1-Apr-20 1-May-20 1-Jun-20 1-Jul-20 1-Aug-20 1-Sep-20 1-Oct-20 1-Nov-20 1-Dec-20 1-Jan-21 1-Feb-21 1-Mar-21 1-Apr-21 1-May-21
40 50 60 70 80 90 100 110
1-Mar-20 1-Apr-20 1-May-20 1-Jun-20 1-Jul-20 1-Aug-20 1-Sep-20 1-Oct-20 1-Nov-20 1-Dec-20 1-Jan-21 1-Feb-21 1-Mar-21 1-Apr-21 1-May-21
1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000
1-Mar-20 1-Apr-20 1-May-20 1-Jun-20 1-Jul-20 1-Aug-20 1-Sep-20 1-Oct-20 1-Nov-20 1-Dec-20 1-Jan-21 1-Feb-21 1-Mar-21 1-Apr-21 1-May-21
4,000 4,500 5,000 5,500 6,000 6,500 7,000 7,500 8,000
1-Mar-20 1-Apr-20 1-May-20 1-Jun-20 1-Jul-20 1-Aug-20 1-Sep-20 1-Oct-20 1-Nov-20 1-Dec-20 1-Jan-21 1-Feb-21 1-Mar-21 1-Apr-21 1-May-21
10,000 12,000 14,000 16,000 18,000 20,000 22,000
1-Mar-20 1-Apr-20 1-May-20 1-Jun-20 1-Jul-20 1-Aug-20 1-Sep-20 1-Oct-20 1-Nov-20 1-Dec-20 1-Jan-21 1-Feb-21 1-Mar-21 1-Apr-21 1-May-21
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 Closed Cases
Cases % Cases % Recovered Recovered Deaths Deaths Active Cases %
5/18/2021 1,748,230 0.24 4,185 (2.56) 1,612,239 5,628 48,477 172 87,514 94.99 5/17/2021 1,744,045 0.25 4,295 39.45 1,606,611 5,754 48,305 212 89,129 94.89 5/16/2021 1,739,750 0.18 3,080 29.14 1,600,857 3,790 48,093 126 90,800 94.78 5/15/2021 1,736,670 0.14 2,385 (9.42) 1,597,067 4,181 47,967 144 91,636 94.72 5/14/2021 1,734,285 0.15 2,633 (23.64) 1,592,886 3,807 47,823 107 93,576 94.60 5/13/2021 1,731,652 0.20 3,448 (25.17) 1,589,079 4,201 47,716 99 94,857 94.52 5/12/2021 1,728,204 0.27 4,608 (8.23) 1,584,878 4,671 47,617 152 95,709 94.46
Average 3,519 4,576 145 94.71
Source: SSI Research, Bloomberg
Equity Research│19 May 2021
HEAL: Kenaikan Laba Bersih +85.3% dan Rencana Stock Split
PT Medikaloka Hermina (HEAL) mencatatkan kenaikan pendapatan +21.6% yoy menjadi IDR 4.4 triliun pada FY20, serta pertumbuhan laba kotor sebanyak +33.4% yoy, dengan GPM mencapai 48.3%. EBITDA perseroan tercatat tumbuh +67.4% yoy menjadi IDR 1.3 triliun, sementara laba bersih meningkat +85.3% yoy sebesar IDR 473 miliar dengan NPM sebesar 10.7%. HEAL berencana melakukan stock split dengan rasio 1:5 dan akan meminta persetujuan para pemegang sahamnya dalam RUPSLB yang akan digelar pada 2 Juni 2021 mendatang. (Laporan Keuangan, Kontan)
Comment:
Pertumbuhan pendapatan HEAL didorong oleh pertumbuhan pendapatan dari pasien rawat inap (+35.8% yoy) serta pasien rawat jalan (+1.4% yoy) pada FY20. Pendapatan dari asa rawat inap, yang menyumbang 19% dari pendapatan total HEAL, mengalami kenaikan hingga 60% yoy, sementara pendapatan dari layanan penunjang medis dan diagnostic tumbuh hingga +84.5% yoy. Jika dilihat berdasarkan volume, inpatient days sedikit menurun (-2.2% yoy), begitu juga dengan outpatient visit (-26.2%). Meski demikian, pendapatan dari kedua segmen tersebut meningkat dikarenakan tingginya intensitas kasus COVID-19, yang menyumbang 30% dari pendapatan perusahaan. Dari sisi beban, HEAL berhasil melakukan efisiensi terutama pada segmen drug dan medical service, yang cost to revenuenya menurun dari 26% yoy menjadi 21% yoy. HEAL berencana melaksanakan stock split yang akan didiskusikan pada RUPSLB tanggal 2 Juni 2021 dengan rasio 1:5 dari nilai nominal sebesar IDR 100 menjadi IDR 20 per lembar saham. Stock split ini bertujuan untuk meningkatkan likuiditas perdagangan saham. Jumlah saham setelah stock split akan bertambah menjadi 14.89 milyar, dari sebelumnya 2.97 milyar. Jika dihitung menggunakan closing price pada 18 Mei (IDR 4,650) maka harga sahamnya akan menjadi IDR 930. HEAL: Under review (prev: HEAL: HOLD: 36.9x PE '21E, 5.0x PBV '21E, TP:
IDR 5,000)
Equity Research│19 May 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
BBCA BUY 11.4 31,950 40,500 37,769 26.8 29.0 24.8 4.3 3.9 14.7 15.7
BBRI BUY 7.0 3,900 5,300 5,113 35.9 24.8 14.7 2.6 2.3 10.3 15.8
BMRI BUY 4.0 5,900 8,000 8,031 35.6 16.1 11.6 1.5 1.4 9.1 12.1
BBNI BUY 1.5 5,450 8,500 7,329 56.0 34.1 7.9 0.9 0.8 2.6 9.7
BBTN BUY 0.2 1,575 2,300 2,176 46.0 10.4 6.5 0.8 0.7 8.1 11.4
BNLI SELL #N/A N/A 2,040 1,376 2,100 -32.5 37.8 35.2 2.3 2.2 0.1 0.1
Average 20.2 8.7 1.1 1.0 6.6 11.1
Consumer (Staples)
ICBP BUY 1.4 8,300 12,000 12,164 44.6 16.9 15.1 3.3 2.9 19.6 19.1
INDF BUY 0.8 6,375 9,500 8,753 49.0 11.4 11.5 1.4 1.3 11.9 11.0
KLBF BUY 1.0 1,450 1,750 1,790 20.7 24.6 22.3 3.9 3.6 16.0 16.0
UNVR BUY 3.1 5,575 7,900 7,351 41.7 29.7 28.2 43.2 39.8 145.7 141.4
SIDO BUY 0.3 780 970 922 24.4 25.1 21.5 7.3 6.8 29.1 31.5
Average 21.5 19.7 11.8 10.9 44.5 43.8
Cigarette
HMSP BUY 2.1 1,260 1,460 1,296 15.9 h 17.3 4.8 4.8 28.5 28.1
GGRM BUY 0.9 33,800 44,400 37,811 31.4 7.7 7.5 1.1 1.0 14.2 13.9
Average 7.7 12.4 3.0 2.9 21.4 21.0
Healthcare
MIKA BUY 0.5 2,620 3,500 3,206 33.6 44.0 41.4 7.7 6.9 17.5 16.8
SILO HOLD 0.2 8,400 9,100 8,686 8.3 600.0 254.5 2.3 2.3 0.4 0.9
HEAL HOLD 0.2 4,650 5,000 4,846 7.5 42.7 36.9 5.7 5.0 13.3 13.5
Average 228.9 111.0 5.2 4.7 10.4 10.4
Poultry
CPIN BUY 1.6 6,500 7,300 6,905 12.3 36.9 28.4 5.1 4.7 13.7 16.4
JPFA BUY 0.3 2,040 2,400 2,308 17.6 25.5 13.4 2.1 1.8 8.0 13.1
MAIN HOLD 0.0 885 890 1,000 0.6 n/a 13.0 0.9 0.9 -0.9 6.8
Average 31.2 18.3 2.7 2.4 7.0 12.1
Retail
MAPI BUY 0.2 770 850 966 10.4 n/a 77.0 1.4 8.3 -7.4 10.8
RALS BUY 0.1 715 900 839 25.9 n/a 15.2 1.2 1.2 -1.5 7.7
ACES BUY 0.4 1,450 1,900 1,774 31.0 30.9 22.7 5.0 4.4 16.1 19.6
LPPF SELL 0.1 1,855 1,100 1,229 -40.7 n/a 14.4 3.2 4.9 -35.0 34.1
Average 30.9 38.3 2.5 4.6 2.4 12.7
Pulp and Paper
INKP SELL 0.8 9,425 7,000 N/A -25.7 10.8 13.0 0.8 0.8 7.6 6.0
Average 10.8 13.0 0.8 0.8 7.6
Media
MNCN BUY 0.2 920 1,400 1,520 52.2 5.6 5.1 0.8 0.7 14.9 14.3
SCMA BUY 0.3 1,435 2,200 2,027 53.3 17.9 16.3 4.4 3.9 24.4 23.7
Average 11.8 10.7 2.6 2.3 19.6 19.0
Telco
EXCL BUY 0.3 2,060 3,300 3,141 60.2 9.7 19.3 1.0 1.0 10.8 5.2
ISAT BUY 0.5 5,650 6,700 6,270 18.6 n/a n/a 2.4 2.4 -5.6 -0.9
TLKM BUY 4.6 3,180 4,050 4,131 27.4 15.1 14.1 2.6 2.5 17.2 17.7
Average 12.4 16.7 2.0 2.0 7.5 7.3
Telco Retail
ERAA BUY 0.1 580 1,625 629 180.2 3.1 2.5 0.3 0.3 11.0 11.9
Telco Infra
TBIG SELL 0.8 2,480 1,550 2,433 -37.5 51.7 48.6 8.5 7.6 16.5 15.6
TOWR BUY 0.9 1,175 1,300 1,448 10.6 20.3 18.4 5.5 4.6 27.2 25.3
Average 36.0 33.5 7.0 6.1 21.9 20.4
Stock Rec.
Equity Research│19 May 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 3.0 5,150 6,750 6,738 31.1 11.5 10.5 1.0 1.0 9.0 9.6
Average 11.5 10.5 1.0 1.0 9.0
Mining Contracting
UNTR BUY 1.2 21,900 31,000 28,088 41.6 11.8 8.7 1.3 1.2 11.2 13.8
Average 11.8 8.7 1.3 1.2 11.2
Aviation
GIAA BUY 0.1 320 650 500 103.1 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 BUY 0.4 1,155 1,350 1,480 16.9 17.2 13.0 0.7 0.6 4.0 4.9
PWON HOLD 0.4 510 530 637 3.9 39.2 13.8 1.0 1.7 2.6 12.1
ASRI SELL 0.1 184 130 252 -29.3 14.2 6.6 0.3 0.3 2.3 4.7
LPKR SELL 0.2 174 140 205 -19.5 n/a n/a 0.4 0.4 -0.5 -0.2
SMRA BUY 0.2 945 1,200 1,040 27.0 55.6 32.6 1.9 1.8 3.4 5.4
CTRA SELL 0.3 1,125 1,100 1,341 -2.2 26.8 20.8 1.4 1.3 5.1 6.2
Average 30.6 17.4 0.9 1.0 2.8 5.5
Industrial Estate
SSIA BUY 0.0 448 700 632 56.3 n/a 40.7 0.5 0.5 -1.6 1.3
DMAS HOLD 0.2 230 250 274 8.7 15.3 13.5 1.5 1.7 9.6 12.7
KIJA SELL 0.1 199 150 N/A -24.6 18.1 15.3 0.7 0.5 4.0 3.4
Average 16.7 23.2 0.9 0.9 4.0 5.6
Construction
PTPP BUY 0.1 1,175 1,900 1,951 61.7 53.4 9.6 0.5 0.5 0.9 4.9
ADHI BUY 0.1 1,060 1,800 1,539 69.8 44.2 10.3 0.7 0.6 1.5 6.1
WSKT BUY 0.2 1,015 2,200 1,283 116.7 n/a 9.8 0.6 0.5 -15.2 5.6
WIKA BUY 0.2 1,365 2,400 2,024 75.8 14.2 9.3 0.7 0.7 5.0 7.1
Average 37.3 9.7 0.6 0.6 -1.9 5.9
Cement
INTP BUY 0.7 12,250 16,250 16,496 32.7 34.0 28.3 2.0 2.0 5.8 6.9
SMGR BUY 0.8 9,525 13,050 14,003 37.0 25.0 20.1 1.6 1.5 6.3 7.4
Average 29.5 24.2 1.8 1.7 6.1 7.2
Precast
WSBP BUY 0.1 183 230 243 25.7 16.6 4.9 0.5 0.4 2.9 8.9
WTON BUY 0.0 282 450 476 59.6 25.6 7.6 0.7 0.7 2.9 8.9
Average 21.1 6.3 0.6 0.6 2.9 8.9
Oil and Gas
PGAS BUY 0.4 1,145 1,700 1,582 48.5 20.8 16.4 0.7 0.7 3.3 4.1
AKRA BUY 0.2 3,170 4,000 4,137 26.2 13.8 12.6 1.5 1.4 10.6 11.0
MEDC BUY 0.3 760 1,090 862 43.4 n/a 10.4 1.1 1.0 -9.9 9.7
Average 17.3 13.1 1.1 1.0 1.3 8.3
Chemical
TPIA BUY 2.1 7,975 10,250 9,483 28.5 550.0 91.7 5.5 5.5 1.0 6.0
BRPT BUY 1.2 880 1,150 1,084 30.7 183.9 112.4 4.7 4.7 2.5 4.2
ESSA SELL 0.1 342 225 540 -34.2 n/a n/a 2.4 1.2 -20.0 -0.5
Average 367.0 102.0 4.2 3.8 -5.5 3.2
Utilities
JSMR BUY 0.4 4,130 5,000 5,469 21.1 62.6 20.8 1.2 1.2 2.0 5.6
Metal
ANTM BUY 0.9 2,600 3,230 3,423 24.2 41.9 25.5 3.2 3.0 7.7 11.7
MDKA SELL 0.9 2,630 2,030 3,006 -22.8 n/a 14.3 9.6 10.4 15.7 72.9
INCO BUY 0.8 5,325 6,730 6,133 26.4 36.7 36.7 1.8 1.8 5.0 5.0
TINS HOLD 0.2 1,755 1,775 1,892 1.1 n/a 1994.3 2.5 3.0 -4.2 0.1
Average 39.3 517.7 4.3 4.6 6.1 22.4
Stock Rec.
Equity Research│19 May 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 13,075 13,550 15,218 3.6 9.0 9.0 1.3 1.5 14.3 16.7
ADRO BUY 0.6 1,200 1,530 1,577 27.5 8.3 8.3 0.7 0.7 8.5 8.8
PTBA BUY 0.4 2,260 2,800 2,891 23.9 10.6 9.1 1.6 1.3 14.6 14.2
Average 9.3 8.8 1.2 1.2 12.5 13.2
Plantation
AALI BUY 0.3 10,000 13,800 13,604 38.0 28.8 18.2 1.0 1.0 3.5 5.3
LSIP BUY 0.1 1,355 1,730 1,662 27.7 13.3 10.8 0.9 0.9 7.1 8.3
TBLA BUY 0.1 885 980 1,190 10.7 7.3 5.9 0.8 0.7 11.0 12.2
SIMP SELL 0.1 560 388 560 -30.7 50.9 32.9 0.6 0.6 1.2 1.8
SSMS BUY 0.1 915 1,500 1,550 63.9 26.9 11.6 2.0 1.7 7.4 15.0
Average 25.4 15.9 1.1 1.0 6.0 8.5
Source: SSI Research, Bloomberg
Note: GIAA, INKP, PGAS, ITMG, ADRO, MEDC, BRPT, INCO, DOID, TPIA report in USD.
Stock Rec.
Equity Research│19 May 2021
Chg (Pts)
1D 1D 1W 1M 3M YTD 1YR High Low
World 2,929 (5.50) (0.19) 1.80 (0.52) 4.35 8.87 42.07 2,985 2,059
U.S. (S&P) 4,128 (35.46) (0.85) (0.58) (1.38) 5.46 9.90 39.74 4,238 2,914
U.S. (DOW) 34,061 (267.13) (0.78) (0.61) (0.41) 8.15 11.29 38.47 35,092 24,060
Europe 4,005 (1.50) (0.04) 1.50 (0.36) 7.86 12.74 37.99 4,043 2,854
Emerging Market 1,333 21.73 1.66 1.36 (1.14) (6.77) 3.25 44.09 1,449 901
FTSE 100 7,034 1.39 0.02 1.24 0.49 6.19 8.88 17.19 7,164 5,526
CAC 40 6,354 (13.68) (0.21) 1.38 0.90 10.05 14.45 42.52 6,413 4,369
Dax 15,387 (10.04) (0.07) 1.76 0.12 9.96 12.16 38.93 15,538 10,867
Indonesia 5,834 0.53 0.01 (2.28) (3.60) (6.38) (2.42) 28.27 6,505 4,520
Japan 28,407 582.01 2.09 0.92 (4.31) (5.37) 3.51 39.02 30,715 20,335
Australia 6,983 (83.38) (1.18) (0.88) (1.18) 2.78 6.00 25.60 7,173 5,461
Korea 3,173 38.53 1.23 (1.13) (0.81) 2.11 10.43 60.21 3,266 1,961
Singapore 3,143 62.94 2.04 (1.25) (2.09) 9.09 10.51 21.74 3,237 2,421
Malaysia 1,591 7.86 0.50 0.24 (0.56) 0.40 (2.21) 11.75 1,696 1,419
Hong Kong 28,594 399.72 1.42 2.07 (1.76) (6.69) 5.00 17.24 31,183 22,520
China 3,529 11.40 0.32 2.53 1.48 (4.52) 1.61 21.75 3,732 2,802
Taiwan 16,146 792.09 5.16 (2.64) (6.47) (1.20) 9.59 48.67 17,709 10,719
Thailand 1,567 17.64 1.14 (0.77) (0.51) 4.42 8.10 19.61 1,606 1,187
Philipines 6,245 (38.84) (0.62) (1.15) (3.33) (9.84) (12.54) 12.40 7,432 5,396
1D 1D 1W 1M 3M YTD 1YR High Low
Foreign Reserves (US$Bn) 138.80 1.24 0.58 2.14 8.54 138.80 130.54
Inflation Rate (yoy, %) 1.42 2.19 1.32
Gov Bond Yld (10yr, %) 6.47 (15.43) 7.73 5.86
US Fed Rate (%) 0.25 0.25 0.25
Chg (Pts)
1D 1D 1W 1M 3M YTD 1YR High Low
Indonesia 14,273 (10.00) 0.07 (0.53) 1.93 (1.74) (1.56) 4.04 14,950 13,865
Japan 108.92 0.02 (0.02) 0.69 (0.69) (3.19) (5.21) (1.11) 110.97 102.59
UK 1.42 0.00 0.00 0.96 1.45 1.23 3.80 15.80 1.42 1.22
Euro 1.22 0.00 0.02 1.26 1.55 0.87 0.07 11.91 1.23 1.09
China 6.43 (0.01) 0.21 0.05 1.32 0.97 1.58 10.64 7.18 6.41
Chg (Pts)
1D 1D 1W 1M 3M YTD 1YR High Low
Oil (Brent) 68.71 (0.75) (1.08) 0.23 2.91 7.48 32.64 97.39 71.38 33.54
CPO 4,457 215.00 5.07 5.69 19.94 27.74 23.81 108.08 4,468 2,140
Rubber 1,064.00 (6.00) (0.56) (1.94) 3.05 8.46 13.49 45.26 1,262.50 737.50
Coal 99.55 1.35 1.37 (1.44) 7.74 28.20 23.66 84.69 104.50 47.50
Tin 32,930 1,240.00 3.91 (2.22) 17.22 21.24 60.29 113.58 34,510 15,400
Nickel 17,968 57.00 0.32 0.18 9.81 (6.16) 8.16 46.68 20,110 12,090
Copper 10,405 32.00 0.31 (0.53) 12.96 21.65 33.98 95.67 10,748 5,246
Gold 1,871 2.50 0.13 2.62 5.70 5.30 (1.19) 7.16 2,074 1,669
Source: Bloomberg, SSI Research
Change (%) 1 Year
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
Equity Research│19 May 2021
Research Team
Suria Dharma Head of Equity Research, Strategy, Banking,
Consumer Staples suria.dharma@samuel.co.id +6221 2854 8148
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
Nashrullah Putra Media, Poultry nashrullah.putra@samuel.co.id +6221 2854 8739
Olivia Laura Anggita Healthcare, Property olivia.laura@samuel.co.id +6221 2854 8346
Ahmad Fadillah Oil & Gas ahmad.fadillah@samuel.co.id +6221 2854 8144
Calista Muskitta Research Associate calista.muskitta@samuel.co.id +6221 2854 8331
Adolf Richardo Editor, Translator adolf.richardo@samuel.co.id +6221 2854 8396
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
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
Julio Simangunsong Fixed Income Sales julio.natanael@samuel.co.id +6221 28548384
Thita Rossiana Putri Admin & Sales Support Fixed Income Thita.rossiana@samuel.co.id +62-21 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
