DAILY. Wait and See perpanjangan PPKM. Highlights. Market DAILY RESEARCH

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DAILY RESEAR CH

Market

Market Activity

Market Index : 6,111.2

Index Movement : -9.5 -0.16%

Market Volume : 14,459 Mn shrs Market Value : 8,122 Bn rupiah

Last

Close +/- %

Leading Movers

ASII 4,800 150 3.2

TPIA 9,350 275 3.0

TLKM 3,270 40 1.2

BBRI 3,790 20 0.5

Lagging Movers

HMSP 1,055 -30 -2.8

GGRM 33,300 -1,525 -4.4

BBNI 4,810 -120 -2.4

TOWR 1,450 -35 -2.4

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

ASII 49 PGAS 144

EMTK 45 BMRI 75

INCO 38 ANTM 60

FREN 31 BBRI 50

TBIG 20 INDF 39 Money Market

Last

Close +/- %

USD/IDR 14,474 -9.0 0.1

JIBOR O/N 5.9 0.0

Dual Listing Securities Last

Close +/- %

TLKM 22.4 -0.3 -1.1

EIDO 20.1 -0.1 -0.5

Global Indices Last

Close +/- %

DJIA 34,935 -149 -0.42

S&P 500 4,395 -24 -0.54

Euro Stoxx 4,089 -27 -0.67

MSCI World 3,090 closed -

STI 3,167 -14 -0.43

Nikkei 27,284 -7,614 -1.80

Hang Seng 25,961 -354 -1.3

Commodities Last

Close +/- %

Brent Oil 76.3 0.3 0.37

Coal (ICE) 152.8 0.3 0.23

CPO Malay 4,369 -58.0 -1.31

Gold 1,814 0.3 -0.76

Nickel 19,835 0.0 -1.31

Tin 34,898 0.0 0.00

Changes Changes

Changes

Changes Friday, 30 Jul 2021

Wait and See perpanjangan PPKM

Pada penutupan pekan lalu (30/7) terjadi koreksi di pasar AS, Index Dow Jones turun -0.42%, S&P500 turun -0.54%, dan Nasdaq pun bergerak melemah -0.71%. Dari AS, kembali timbul kekhawatiran akan melonjaknya kasus Covid-19 yang penambahan rata-rata 7 hari kebelakang tercata 66 ribu kasus per hari, naik +64.1% dari rata-rata pekan sebelumya yaitu 40.5 ribu kasus per hari. Yield UST10Y berada di 1.22%, Kembali di level yang rendah pada tahun 2021 ini, USD index terpantau flat di level 92.09.

Pasar komoditas terpantau bergerak mixed.Pada Jumat lalu, WTI naik +0.1%

ke level USD 73.7/Bbl, Brent bergerak naik (+0.3% ke level USD 76.3/Bbl), batubara menguat +0.15% ke level USD 150/Ton, nikel -1.54% ke level USD 19,547/Ton, CPO turun -1.3% ke level MYR 4,371/ton. Harga emas terpantau melemah (-0.8% ke level USD 1,813/t.oz).

Dari dalam negeri, terjadi penambahan 30.7 ribu kasus baru COVID-19 pada hari Minggu (1/8) (Sabtu: 37.2 kasus) dengan positive rate sebesar 27.3%

(Sabtu: 24.8%). Sejauh ini, telah ditemukan sebanyak 3.4 juta kasus COVID- 19 di Indonesia, dengan 2.8 juta di antaranya sembuh (recovery rate: 81.7%, active case: 535 ribu ). Terkait vaksinasi, sejauh ini 47.4 juta orang di Indonesia telah menerima dosis pertama vaksin COVID-19 (+251 ribu pada Minggu) dan 20.6 juta telah menerima dosis kedua (+138 ribu pada Minggu), merefleksikan 26.2% dari total target.

IHSG bergerak melemah -0.51% selama sepekan lalu, lalu melemah pula - 0.8% pada hari Jumat (30/7) ke level 6,070. Pekan lalu terjadi net sell asing yang cukup signifikan sebesar IDR -1.04 triliun, dan pada perdagangan Jumat lalu, tercatat net sell asing sebesar IDR -562 miliar. Hari ini (2/8) merupakan hari terakhir PPKM level 4, maka dari itu investor akan memperhatikan kebijakan perpanjangan PPKM tersebut. Selain itu, hari ini terdapat rilis data Markit manufacturing PMI Indonesia (Prev: 53.5) dan inflasi (prev: 1.33%

yoy, -0.15% mom; cons: +1.45% yoy, +0.01% yoy)

Pagi ini pasar regional dibuka menguat, dengan Kospi +0.5% dan Nikkei +1.0%. Untuk IHSG pada hari ini kami perkirakan akan bergerak flat, menanti rilis data dan kebijakan pemerintah mengenai perpanjangan PPKM, namun terdapat kecenderungan menguat mengikuti bursa asia.

[7:12 AM, 8/2/2021] Rully Research: MAIN: Laba bersih 2Q21 turun -55%

qoq

DAILY RESEARCH

 MAIN : Laba bersih 2Q21 turun -55% qoq

 MAPI : Laba Bersih 2Q21 Sebesar IDR 246 Miliar, naik +842% yoy

2 August 2021

Highlights

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Equity Research│2 August 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)

3-Aug-20 3-Sep-20 3-Oct-20 3-Nov-20 3-Dec-20 3-Jan-21 3-Feb-21 3-Mar-21 3-Apr-21 3-May-21 3-Jun-21 3-Jul-21

0 10 20 30 40 50 60 70 80 90

40 60 80 100 120 140 160

1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000

5,000 5,500 6,000 6,500 7,000 7,500 8,000

14,000 16,000 18,000 20,000 22,000

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 Closed Cases

Cases % Cases % Recovered Recovered Deaths Deaths Active Cases %

8/1/2021 3,440,396 0.90 30,738 - 2,809,538 39,446 95,723 1,604 535,135 84.45 7/31/2021 3,409,658 1.11 37,284 - 2,770,092 39,372 94,119 1,808 545,447 84.00 7/30/2021 3,372,374 1.24 41,168 (5.32) 2,730,720 44,550 92,311 1,759 549,343 83.71 7/29/2021 3,331,206 1.32 43,479 (9.02) 2,686,170 45,494 90,552 1,893 554,484 83.35 7/28/2021 3,287,727 1.48 47,791 5.73 2,640,676 43,856 88,659 1,824 558,392 83.02 7/27/2021 3,239,936 1.41 45,203 60.14 2,596,820 47,128 86,835 2,069 556,281 82.83 7/26/2021 3,194,733 0.89 28,228 (27.02) 2,549,692 40,374 84,766 1,487 560,275 82.46

Average 39,127 42,889 1,778 83.40

Source: SSI Research, Bloomberg

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Equity Research│2 August 2021

MAIN: Laba bersih 2Q21 turun -55% qoq

Pada paruh pertama 2021, PT Malindo Feedmil mencatatkan penjualan sebesar IDR 4.5 triliun, naik +42% yoy, laba kotor naik +95% yoy menjadi IDR 454 miliar, laba operasional bertumbuh +420% yoy menjadi IDR 226 miliar, dan laba bersih tercatat IDR 128 miliar, berbalik dari rugi bersih IDR -44 miliar pada 1H20 lalu. (Laporan keuangan)

Comments:

Performa yang cemerlang dari 1H21 utamana disebabkan oleh low-based effect 1H20, pencapaiannya laba bersihnya mencapai 67% proyeksi SSI dan 58% proyeksi consensus. Namun, apabila dilihat secara kuartalan, terjadi penurunan kinerja secara qoq. Meskipun penjualan 2Q21 naik +13% qoq, namun terjadi penyusutan margin, GPM turun -236bps menjadi 8.8% disebabkan oleh kenaikan harga bahan baku (jagung dan SBM).

Terdapat kenaikan signifikan pada beban umum dan administrasi pada 2Q21 yang tercatat sebesar IDR 139 miliar, naik 3x lipat dari IDR 44 miliar pada 1Q21), OPM menyusut -263bps menjadi 3.7%. Laba bersih terkontraksi -55% qoq menjadi IDR 39 miliar, NPM menyusut -257bps menjadi 1.6%. MAIN: BUY: 10.6x PE '21E, 0.7x PBV '21E, TP: IDR 890

MAPI: Laba Bersih 2Q21 Sebesar IDR 246 Miliar

Selama kuartal kedua, PT Mitra Adiperkasa Tbk (MAPI) mencatatkan pertumbuhan laba bersih ke IDR 245.6 miliar dari IDR -652.4 miliar di 2Q20, sehingga laba bersih 1H21 naik ke IDR 271.7 miliar (dari rugi bersih 1H20: IDR -367.93 miliar), mencapai 54% SSIF dan 46.4% consensus. Penjualan 2Q21 sendiri naik +131.4% yoy (+11.8% qoq). (Investor Daily) Comment:

Angka penjualan MAPI pada 1H21 mencapai 52.3% dan 49% dari proyeksi SSI dan consensus. GPM 2Q21

menyusust ke 56.5% dari 58.3% di 1Q21 yang disebabkan oleh PPKM darurat dan pembatasan jam

operasiobal gerai-gerai ritel sehingga GPM 1H21 tercatata di 57.34%. Sebagai perbandingan GPM 1H20

tercatat di 57.16%. MAPI: Under review (Prev:BUY: 10.6x PE '21E, 0.7x PBV '21E, TP: IDR 950)

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Equity Research│2 August 2021

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 10.2 29,850 40,500 36,777 35.7 27.1 23.1 4.0 3.6 14.7 15.7

BBRI BUY 6.4 3,710 5,300 4,947 42.9 23.6 13.9 2.4 2.2 10.3 15.8

BMRI BUY 3.7 5,700 8,000 7,907 40.4 15.5 11.2 1.4 1.4 9.1 12.1

BBNI BUY 1.2 4,780 8,500 7,120 77.8 29.9 6.9 0.8 0.7 2.6 9.7

BBTN BUY 0.2 1,315 2,300 2,056 74.9 8.7 5.4 0.7 0.6 8.1 11.4

Average 18.0 7.8 1.0 0.9 6.6 11.1

Consumer (Staples)

ICBP BUY 1.3 8,125 12,000 11,517 47.7 18.8 14.4 3.7 3.2 19.9 22.1

INDF BUY 0.8 6,075 9,500 8,649 56.4 10.9 11.0 1.3 1.2 11.9 11.0

KLBF BUY 0.8 1,260 1,750 1,738 38.9 21.4 19.4 3.4 3.1 16.0 16.0

UNVR BUY 2.3 4,220 5,900 5,779 39.8 22.4 22.2 32.7 32.2 145.7 145.0

SIDO BUY 0.3 805 970 944 20.5 25.9 22.2 7.5 7.0 29.1 31.5

Average 19.9 17.9 9.7 9.3 44.5 45.1

Cigarette

HMSP SELL 1.7 1,045 1,040 1,238 -0.5 14.1 14.3 4.0 4.0 28.5 28.1

GGRM BUY 0.9 32,800 38,240 38,277 16.6 7.5 7.2 1.1 1.0 14.2 13.9

Average 10.8 10.8 2.5 2.5 21.4 21.0

Healthcare

MIKA BUY 0.5 2,590 3,500 3,236 35.1 43.5 40.9 7.6 6.9 17.5 16.8

SILO HOLD 0.2 8,325 9,100 10,758 9.3 594.6 252.3 2.3 2.2 0.4 0.9

HEAL BUY 0.0 1,170 5,700 1,258 387.2 10.7 9.3 1.4 1.3 13.3 13.5

Average 216.3 100.8 3.8 3.5 10.4 10.4

Poultry

CPIN BUY 1.5 6,125 7,300 7,357 19.2 34.8 26.7 4.8 4.4 13.7 16.4

JPFA BUY 0.3 1,560 2,400 2,531 53.8 19.5 10.3 1.6 1.3 8.0 13.1

MAIN BUY 0.0 720 890 1,105 23.6 n/a 10.6 0.8 0.7 -0.9 6.8

WMUU BUY 0.0 161 370 370 129.8 #DIV/0! 6.8 #DIV/0! 1.6 #DIV/0! 23.1

Average 27.2 15.9 2.4 2.1 7.0 12.1

Retail

MAPI BUY 0.1 620 975 893 57.3 n/a 17.2 1.9 4.0 -10.4 23.1

RALS BUY 0.1 630 900 754 42.9 n/a 13.4 1.0 1.0 -1.5 7.7

ACES BUY 0.3 1,320 1,900 1,524 43.9 28.1 20.6 4.5 4.0 16.1 19.6

LPPF SELL 0.1 1,805 1,100 1,369 -39.1 n/a 14.0 3.1 4.8 -35.0 34.1

Average 28.1 17.1 2.5 3.0 1.4 16.8

Pulp and Paper

INKP HOLD 0.5 6,800 7,000 N/A 2.9 7.8 9.4 0.6 0.6 7.6 6.0

Average 7.8 9.4 0.6 0.6 7.6

Media

MNCN BUY 0.2 790 1,650 1,425 108.9 4.9 4.1 0.7 0.6 13.6 14.6

SCMA SELL 0.4 2,300 2,200 2,094 -4.3 28.8 26.1 7.0 6.2 24.4 23.7

Average 16.8 15.1 3.8 3.4 19.0 19.1

Telco

EXCL BUY 0.4 2,690 3,000 3,275 11.5 76.9 39.0 1.5 1.5 1.9 3.8

ISAT BUY 0.5 5,650 7,250 7,316 28.3 n/a 65.7 2.4 0.3 -5.6 0.4

TLKM BUY 4.5 3,240 4,050 4,162 25.0 15.4 14.3 2.7 2.5 17.2 17.7

Average 46.1 39.7 2.2 1.4 4.5 7.3

Telco Retail

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Equity Research│2 August 2021

Auto

ASII BUY 2.6 4,650 6,750 6,758 45.2 10.4 9.5 0.9 0.9 9.0 9.6

Average 10.4 9.5 0.9 0.9 9.0

Mining Contracting

UNTR BUY 1.0 19,750 31,000 27,426 57.0 10.6 7.9 1.2 1.1 11.2 13.8

Average 10.6 7.9 1.2 1.1 11.2

Aviation

GIAA BUY 0.1 222 650 455 192.8 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 0.3 935 1,350 1,451 44.4 14.0 10.5 0.6 0.5 4.0 4.9

PWON BUY 0.3 426 530 599 24.4 32.8 11.5 0.8 1.4 2.6 12.1

ASRI SELL 0.0 160 130 214 -18.8 12.3 5.7 0.3 0.3 2.3 4.7

LPKR SELL 0.1 147 140 199 -4.8 n/a n/a 0.3 0.3 -0.5 -0.2

SMRA BUY 0.2 755 1,200 1,038 58.9 44.4 26.0 1.5 1.4 3.4 5.4

CTRA BUY 0.2 890 1,100 1,337 23.6 21.2 16.5 1.1 1.0 5.1 6.2

Average 24.9 14.0 0.8 0.8 2.8 5.5

Industrial Estate

SSIA BUY 0.0 496 700 663 41.1 n/a 45.1 0.6 0.6 -1.6 1.3

DMAS BUY 0.1 196 250 260 27.6 13.1 11.5 1.2 1.5 9.6 12.7

KIJA SELL 0.0 170 150 N/A -11.8 15.5 13.1 0.6 0.4 4.0 3.4

Average 14.3 23.2 0.8 0.8 4.0 5.6

Construction

PTPP BUY 0.1 860 1,900 1,385 120.9 39.1 7.0 0.4 0.3 0.9 4.9

ADHI BUY 0.0 700 1,800 1,298 157.1 29.2 6.8 0.4 0.4 1.5 6.1

WSKT BUY 0.2 890 1,400 1,120 57.3 n/a n/a 0.7 0.8 -44.6 -7.4

WIKA BUY 0.1 970 1,400 1,529 44.3 10.1 6.6 0.5 0.5 5.0 7.1

Average 26.1 6.8 0.5 0.5 -9.3 2.6

Cement

INTP BUY 0.5 9,200 16,250 15,264 76.6 25.6 21.2 1.5 1.5 5.8 6.9

SMGR BUY 0.7 8,025 13,050 13,163 62.6 21.1 16.9 1.3 1.3 6.3 7.4

Average 23.3 19.1 1.4 1.4 6.1 7.2

Precast

WSBP BUY 0.0 131 230 175 75.6 11.9 3.5 0.3 0.3 2.9 8.9

WTON BUY 0.0 230 450 384 95.7 20.9 6.2 0.6 0.6 2.9 8.9

Average 16.4 4.9 0.5 0.4 2.9 8.9

Oil and Gas

PGAS BUY 0.3 1,005 1,700 1,448 69.2 18.3 14.4 0.6 0.6 3.3 4.1

AKRA BUY 0.2 3,590 4,000 4,200 11.4 15.6 14.2 1.6 1.6 10.6 11.0

MEDC BUY 0.2 510 1,090 877 113.7 n/a 7.0 0.8 0.7 -9.9 9.7

Average 16.9 11.9 1.0 0.9 1.3 8.3

Chemical

TPIA BUY 2.2 9,075 10,250 8,950 12.9 625.9 104.3 6.3 6.3 1.0 6.0

BRPT BUY 1.2 955 1,150 1,036 20.4 199.6 122.0 5.1 5.1 2.5 4.2

ESSA SELL 0.1 474 225 593 -52.5 n/a n/a 3.3 1.6 -20.0 -0.5

Average 412.7 113.1 4.9 4.3 -5.5 3.2

Utilities

JSMR BUY 0.4 3,850 5,000 5,241 29.9 58.3 19.3 1.2 1.1 2.0 5.6

Metal

ANTM BUY 0.9 2,590 3,230 3,493 24.7 41.8 25.4 3.2 3.0 7.7 11.7

MDKA SELL 0.9 2,970 2,030 3,276 -31.6 n/a 16.1 10.8 11.8 15.7 72.9

INCO BUY 0.7 5,400 6,730 5,939 24.6 37.2 37.2 1.9 1.8 5.0 5.0

TINS HOLD 0.2 1,635 1,775 1,633 8.6 n/a 1858.0 2.3 2.8 -4.2 0.1

Average 39.5 484.2 4.5 4.8 6.1 22.4

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Equity Research│2 August 2021

Coal

ITMG SELL 0.3 17,050 13,550 16,951 -20.5 11.8 11.8 1.7 2.0 14.3 16.7

ADRO BUY 0.6 1,325 1,530 1,638 15.5 9.1 9.1 0.8 0.8 8.5 8.8

PTBA BUY 0.4 2,240 2,900 2,854 29.5 10.5 9.0 1.5 1.3 14.6 14.2

Average 10.5 10.0 1.3 1.3 12.5 13.2

Plantation

AALI BUY 0.2 8,250 13,800 12,794 67.3 23.8 15.0 0.8 0.8 3.5 5.3

LSIP BUY 0.1 1,130 1,730 1,551 53.1 11.1 9.0 0.8 0.7 7.1 8.3

TBLA BUY 0.1 820 980 1,180 19.5 6.8 5.5 0.7 0.7 11.0 12.2

SIMP SELL 0.1 438 388 N/A -11.4 39.8 25.8 0.5 0.5 1.2 1.8

SSMS BUY 0.1 860 1,500 1,377 74.4 25.3 10.9 1.9 1.6 7.4 15.0

Average 21.3 13.2 0.9 0.9 6.0 8.5

Source: SSI Research, Bloomberg

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

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Equity Research│2 August 2021

Chg (Pts)

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

World 3,069 0.63 0.02 0.75 1.49 3.58 14.11 32.32 3,082 2,276

U.S. (S&P) 4,419 18.51 0.42 1.18 2.97 4.93 17.65 35.62 4,430 3,204

U.S. (DOW) 35,085 153.60 0.44 0.75 2.31 3.01 14.63 32.20 35,172 25,992

Europe 4,117 13.74 0.33 1.42 0.23 3.00 15.88 24.74 4,166 2,921

Emerging Market 1,268 15.77 1.26 (4.39) (7.91) (7.06) (1.79) 16.71 1,449 1,053

FTSE 100 7,078 61.79 0.88 1.58 (0.13) 1.68 9.56 15.44 7,218 5,526

CAC 40 6,634 24.46 0.37 2.35 1.01 5.26 19.50 33.78 6,687 4,513

Dax 15,640 70.11 0.45 0.81 (0.32) 3.21 14.01 21.98 15,811 11,450

Indonesia 6,121 32.20 0.53 (0.27) 2.26 2.09 2.37 18.86 6,505 4,755

Japan 27,782 200.76 0.73 1.44 (3.50) (3.58) 1.23 24.37 30,715 21,710

Australia 7,417 38.10 0.52 0.42 1.43 5.57 12.60 22.58 7,448 5,763

Korea 3,243 5.79 0.18 (0.23) (1.64) 3.01 12.85 43.04 3,316 2,237

Singapore 3,181 38.86 1.24 0.68 1.60 (1.17) 11.84 25.72 3,237 2,421

Malaysia 1,513 (2.46) (0.16) (0.96) (1.29) (5.54) (7.02) (5.66) 1,696 1,452

Hong Kong 26,315 841.44 3.30 (5.08) (8.72) (8.39) (3.36) 6.49 31,183 23,124

China 3,412 50.13 1.49 (4.56) (5.00) (1.02) (1.77) 3.80 3,732 3,202

Taiwan 17,403 267.59 1.56 (0.96) (1.99) (0.93) 18.13 36.78 18,034 12,145

Thailand 1,538 0.15 0.01 (0.07) (3.15) (2.86) 6.10 16.88 1,643 1,187

Philipines 6,497 23.50 0.36 (1.22) (5.87) 1.97 (9.01) 9.58 7,432 5,692

Foreign Reserves (US$Bn) 137.09 0.51 (0.00) 0.88 4.08 138.80 133.60

Inflation Rate (yoy, %) 1.33 1.68 1.32

Gov Bond Yld (10yr, %) 6.30 (7.80) 7.02 5.86

US Fed Rate (%) 0.25 0.25 0.25

Chg (Pts)

Indonesia 14,483 (5.00) 0.03 0.00 0.01 (0.23) (2.99) 0.41 14,950 13,865

Japan 109.48 (0.43) 0.39 0.60 0.96 (0.50) (5.69) (4.17) 111.66 102.59

UK 1.40 0.01 0.42 1.40 0.90 0.12 2.13 7.42 1.42 1.27

Euro 1.19 0.00 0.35 0.98 (0.09) (1.94) (2.70) 0.80 1.23 1.16

China 6.46 (0.03) 0.53 0.22 0.11 0.24 1.10 8.44 6.99 6.36

Chg (Pts)

Oil (Brent) 75.88 1.14 1.53 2.83 1.50 10.68 46.49 73.44 77.84 35.74

CPO 4,673 83.00 1.81 5.44 24.61 5.70 20.10 70.67 4,839 2,674

Coal 152.40 1.20 0.79 3.89 16.34 68.40 89.32 193.08 154.50 47.50

Tin 34,400 25.00 0.07 2.92 10.43 20.54 69.25 91.19 34,990 16,795

Nickel 19,543 186.00 0.96 5.18 6.80 12.13 17.64 43.07 20,110 13,590

Copper 9,686 (72.50) (0.74) 3.63 3.17 (1.92) 24.72 49.54 10,748 6,226

Gold 1,828 20.86 1.15 1.17 3.79 3.15 (3.71) (7.25) 2,075 1,677

Silver 25.51 0.55 2.19 0.31 (1.02) (2.25) (3.38) 4.94 30 22

Source: Bloomberg, SSI Research

Change (%) 1 Year

Commodity Indicators Last Price Regional Indices Last Price

Exchange Rate (per USD) Last Price

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Equity Research│2 August 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 dan 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

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

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

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