DAILY. Pasar AS Ditutup Menguat, IHSG Diperkirakan Menguat Terbatas. Highlights. Market DAILY RESEARCH. PTBA : Bagi Dividen IDR 835 Miliar

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DAILY RESEAR CH

Market

Market Activity

Market Index : 5,970.3

Index Movement : -41.2 -0.68%

Market Volume : 12,810 Mn shrs Market Value : 7,179 Bn rupiah

Last

Close +/- %

Leading Movers

CPIN 7,100 125 1.8

BRPT 960 15 1.6

BBNI 5,750 75 1.3

ARTO 10,075 100 1.0

Lagging Movers

BBRI 4,200 -90 -2.1

BBCA 30,775 -350 -1.1

UNVR 6,475 -150 -2.3

MEGA 8,875 -625 -6.6

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

ITMG 25 BBRI 413

ANTM 24 BBCA 198

BMRI 20 MDKA 27

UNTR 19 TOWR 24

BBNI 18 CPIN 14 Money Market

Last

Close +/- %

USD/IDR 14,515 -10.0 0.1

JIBOR O/N 5.9 0.0

Dual Listing Securities Last

Close +/- %

TLKM 23.7 0.1 0.2

EIDO 21.8 -0.2 -0.8

Global Indices Last

Close +/- %

DJIA 33,527 374 1.1

S&P 500 4,078 58 1.4

Euro Stoxx 3,946 0 0.0

MSCI World 2,873 33 1.2

STI 3,210 28 0.9

Nikkei 30,094 705 2.4

Hang Seng 28,939 0 0.0

Commodities Last

Close +/- %

Brent Oil 62 -2.5 -3.8

Coal (ICE) 92 0.0 0.0

CPO Malay 3,967 11.0 0.3

Nickel 16,173 0.0 0.0

Tin 25,123 0.0 0.00

Changes Changes

Changes

Changes Monday, 05 Apr 2021

Pasar AS Ditutup Menguat, IHSG Diperkirakan Menguat Terbatas

Semalam bursa AS ditutup menguat: Dow Jones +1.13%; S&P 500 +1.44%

dan Nasdaq +1.67%. Kenaikan bursa AS turut didorong dua data yang menunjukkan hasil diatas proyeksi. Rilis data ketenangakerjaan non-farm payroll +916 ribu diatas konsesus +675 ribu. Selain itu, rilis data ISM Non- Manufacturing PMI AS bulan Maret sebesar 63.7, meningkat dari Feb 55.3 dan mengalahkan proyeksi konsesus 59.

Sementara itu, beberapa bursa utama Asia ditutup menguat kemarin: Nikkei +0.79%, STI +0.88%, dan Kospi +0.26%. Hang Seng dan Shanghai tutup.

Sementara IHSG sendiri ditutup melemah -0.68% ke level 5,970.2, dengan net sell asing sebesar IDR 593.7 miliar di pasar reguler. Indeks EIDO ditutup menurun -0.82%. Mata uang Rupiah masih melemah dengan kurs tukar IDR 14,525/USD.

Beberapa sentimen yang dapat diperhatikan diantaranya: Pergerakan beberapa harga komoditas oil sempat turun Brent -3.7% dan WTI -3.9%.

Yield US Treasury 10Y sedikit mengalami naik menjadi 1.73% (vs 1.72% pada Jumat 2/4/2021). Dari regional, pagi ini akan rilis data Caixin PMI Composite dan Service China bulan Maret.

Kasus baru Covid-19 dalam negeri Senin diumukan sebanyak 3,712 kasus (- 44.9% daily) dengan kesembuhan 5,800 kasus dengan recovery rate mencapai 89.8%. Hingga kini Indonesia telah mencatat total kasus Covid-19 mencapai 1.538 juta. Update vaksinasi nasional 05/04/2021: vaksin dosis 1 telah diberikan kepada 8.83 juta orang (+208,899 daily) atau setara dengan 4.9% dari target 181.5 juta orang. Sementara dosis ke-2 telah diberikan kepada 4.2 juta orang (+193,925 daily).

Pagi ini Indeks Asia dibuka menguat, indeks Nikkei dibuka dan diperdagangkan di zona positif namun mengalami penurunan menjadi flat +0.02%. Sementara itu Indeks Kospi dibuka naik +0.38%. Minim sentimen, IHSG diproyeksi bergerak menguat namun terbatas.

DAILY RESEARCH

 PTBA : Bagi Dividen IDR 835 Miliar

6 April 2021

Highlights

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Equity Research│6 April 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 %

4/5/2021 1,537,967 0.24 3,712 (44.85) 1,381,677 5,800 41,815 146 114,475 92.56 4/4/2021 1,534,255 0.44 6,731 54.91 1,375,877 9,663 41,669 427 116,709 92.39 4/3/2021 1,527,524 0.29 4,345 (18.40) 1,366,214 5,197 41,242 91 120,068 92.14 4/2/2021 1,523,179 0.35 5,325 (13.30) 1,361,017 5,439 41,151 97 121,011 92.06 4/1/2021 1,517,854 0.41 6,142 3.45 1,355,578 7,248 41,054 196 121,222 92.01 3/31/2021 1,511,712 0.39 5,937 26.80 1,348,330 5,635 40,858 104 122,524 91.90 3/30/2021 1,505,775 0.31 4,682 (6.51) 1,342,695 5,877 40,754 173 122,326 91.88

Average 5,268 6,408 176 92.13

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)

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

0 10 20 30 40 50 60 70 80

40 50 60 70 80 90 100 110

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

4,000 4,500 5,000 5,500 6,000 6,500 7,000 7,500 8,000

10,000 12,000 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

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Equity Research│6 April 2021

PTBA: Bagi Dividen IDR 835 Miliar

PT Bukit Asam Tbk (PTBA) menggelar Rapat Umum Pemegang Saham Tahunan (RUPST) untuk Tahun Buku 2020 di Jakarta pada Senin (5/4). Dalam RUPST tersebut, PTBA memutuskan untuk membagikan dividen sebesar IDR 835 miliar. Nilai dividen tunai yang dibagikan ini mencapai 35 persen dari total laba bersih perusahaan tahun 2020 sebesar Rp 2,4 triliun. (Laporan Perusahaan)

Comments:

Rasio pembayaran dividen ini jauh lebih kecil dari tahun sebelumnya yang mencapai 90%, dan lebih mendekati

angka rata-rata pada 2015-2017 (30%). Dengan nilai total dividen yang dibagikan di angka IDR 835 miliar,

maka pemilik saham PTBA akan mendapatkan dividen sebesar IDR 72.5 per lembar saham yang dimiliki. Jika

dihitung menggunakan harga penutupan pada 5 April, (IDR 2,540), maka dividend yield yang diberikan sebesar

2.9%. Kami menilai keputusan perusahaan untuk menurunkan rasio pembayaran dividennya merupakan hal

yang cukup wajar, mengingat laba bersih perusahaan turun cukup drastis pada FY20 (-41.2% yoy). Selain itu,

PTBA juga membutuhkan dana ekspansi yang cukup besar tahun ini demi meningkatkan kembali

produktivitasnya yang sempat menurun tahun lalu. SSI memproyeksikan volume penjualan batubara PTBA pada

FY21F-22F sebesar 32.1-35.2 juta ton (2020: 26.1 juta ton) dengan harga batubara acuan kami proyeksikan

stabil di level USD 65-70/ton. PTBA: BUY: 8.8x PE '21E, 1.4x PBV '21E, TP: IDR 3,200

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Equity Research│6 April 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 11.3 30,775 40,500 38,085 31.6 28.0 23.9 4.1 3.7 14.7 15.7

BBRI BUY 7.7 4,200 5,300 5,168 26.2 26.8 15.8 2.8 2.5 10.3 15.8

BMRI BUY 4.3 6,225 8,000 8,002 28.5 17.0 12.2 1.5 1.5 9.1 12.1

BBNI BUY 1.6 5,750 8,500 7,320 47.8 35.9 8.3 0.9 0.8 2.6 9.7

BBTN BUY 0.3 1,710 2,300 2,242 34.5 11.3 7.1 0.9 0.8 8.1 11.4

Average 21.4 9.2 1.1 1.0 6.6 11.1

Consumer (Staples)

ICBP BUY 1.6 8,925 12,000 12,046 34.5 18.1 16.2 3.6 3.1 19.6 19.1

INDF BUY 0.9 6,650 9,500 8,651 42.9 11.9 12.0 1.4 1.3 11.9 11.0

KLBF BUY 1.1 1,550 1,750 1,804 12.9 26.3 23.8 4.2 3.8 16.0 16.0

UNVR BUY 3.7 6,475 7,900 8,094 22.0 34.4 32.7 50.2 46.3 145.7 141.4

SIDO BUY 0.4 790 970 918 22.8 25.4 21.8 7.4 6.9 29.1 31.5

Average 23.2 21.3 13.4 12.3 44.5 43.8

Cigarette

HMSP HOLD 2.4 1,355 1,460 1,302 7.7 h 18.6 5.2 5.2 28.5 28.1

GGRM BUY 1.0 36,200 44,400 39,644 22.7 8.2 8.0 1.2 1.1 14.2 13.9

Average 8.2 13.3 3.2 3.2 21.4 21.0

Healthcare

MIKA BUY 0.6 2,610 3,500 3,168 34.1 43.8 41.3 7.7 6.9 17.5 16.8

SILO HOLD 0.1 5,400 5,400 5,940 0.0 385.7 163.6 1.5 1.5 0.4 0.9

HEAL BUY 0.2 4,540 5,000 4,790 10.1 41.7 36.0 5.5 4.9 13.3 13.5

Average 157.1 80.3 4.9 4.4 10.4 10.4

Poultry

CPIN HOLD 1.7 7,100 7,300 6,769 2.8 40.3 31.0 5.5 5.1 13.7 16.4

JPFA HOLD 0.4 2,060 2,100 1,949 1.9 25.8 13.6 2.1 1.8 8.0 13.1

MAIN BUY 0.0 765 890 913 16.3 n/a 11.3 0.8 0.8 -0.9 6.8

Average 33.0 18.6 2.8 2.5 7.0 12.1

Retail

MAPI BUY 0.2 750 850 968 13.3 n/a 75.0 1.4 8.1 -7.4 10.8

RALS BUY 0.1 775 900 819 16.1 n/a 16.5 1.3 1.3 -1.5 7.7

ACES BUY 0.4 1,565 1,900 1,828 21.4 33.3 24.5 5.4 4.8 16.1 19.6

LPPF SELL 0.1 1,425 1,100 1,121 -22.8 n/a 11.0 2.4 3.8 -35.0 34.1

Average 33.3 38.6 2.7 4.7 2.4 12.7

Pulp and Paper

INKP SELL 0.9 10,475 7,000 N/A -33.2 12.0 14.4 0.9 0.9 7.6 6.0

Average 12.0 14.4 0.9 0.9 7.6

Media

MNCN BUY 0.2 935 1,400 1,553 49.7 5.7 5.2 0.8 0.7 14.9 14.3

SCMA BUY 0.4 1,725 2,200 2,264 27.5 21.6 19.6 5.3 4.6 24.4 23.7

Average 13.6 12.4 3.1 2.7 19.6 19.0

Telco

EXCL BUY 0.3 2,070 3,300 3,338 59.4 9.7 19.3 1.0 1.0 10.8 5.2

ISAT BUY 0.5 5,650 6,700 6,186 18.6 n/a n/a 2.4 2.4 -5.6 -0.9

TLKM BUY 5.0 3,380 4,300 4,165 27.2 15.2 14.4 2.7 2.6 17.8 17.8

Average 12.4 16.9 2.0 2.0 7.7 7.4

Telco Retail

ERAA BUY 0.0 510 1,625 552 218.6 2.7 2.2 0.3 0.3 11.0 11.9

Telco Infra

TBIG SELL 0.7 2,040 1,550 2,143 -24.0 42.5 40.0 7.0 6.2 16.5 15.6

Stock Rec.

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Equity Research│6 April 2021

Auto

ASII BUY 3.3 5,350 6,750 6,859 26.2 12.0 10.9 1.1 1.0 9.0 9.6

Average 12.0 10.9 1.1 1.0 9.0

Mining Contracting

UNTR BUY 1.2 22,200 31,000 28,889 39.6 11.9 8.9 1.3 1.2 11.2 13.8

Average 11.9 8.9 1.3 1.2 11.2

Aviation

GIAA BUY 0.1 324 650 411 100.6 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 BUY 0.4 1,145 1,350 1,462 17.9 17.1 12.9 0.7 0.6 4.0 4.9

PWON SELL 0.4 535 525 641 -1.9 41.2 23.3 1.1 1.0 2.6 4.4

ASRI SELL 0.1 214 130 257 -39.3 16.5 7.6 0.4 0.4 2.3 4.7

LPKR SELL 0.2 202 140 220 -30.7 n/a n/a 0.5 0.5 -0.5 -0.2

SMRA HOLD 0.2 905 950 980 5.0 53.2 31.2 1.8 1.7 3.4 5.4

CTRA SELL 0.3 1,135 1,100 1,281 -3.1 27.0 21.0 1.4 1.3 5.1 6.2

Average 31.0 19.2 1.0 0.9 2.8 4.2

Industrial Estate

SSIA BUY 0.0 482 700 800 45.2 n/a 43.8 0.6 0.6 -1.6 1.3

DMAS HOLD 0.2 236 250 258 5.9 15.7 13.9 1.5 1.8 9.6 12.7

KIJA SELL 0.1 173 150 N/A -13.3 15.7 13.3 0.6 0.5 4.0 3.4

Average 15.7 23.7 0.9 0.9 4.0 4.7

Construction

PTPP BUY 0.1 1,280 1,900 2,003 48.4 58.2 10.4 0.5 0.5 0.9 4.9

ADHI BUY 0.1 1,045 1,800 1,915 72.2 43.5 10.1 0.7 0.6 1.5 6.1

WSKT BUY 0.2 1,055 2,200 1,497 108.5 n/a 10.1 0.6 0.6 -15.2 5.6

WIKA BUY 0.2 1,430 2,400 2,105 67.8 14.9 9.7 0.7 0.7 5.0 7.1

Average 38.9 10.1 0.6 0.6 -1.9 5.9

Cement

INTP BUY 0.7 12,225 16,250 16,971 32.9 34.0 28.2 2.0 2.0 5.8 6.9

SMGR BUY 0.9 10,300 13,050 14,359 26.7 27.0 21.7 1.7 1.6 6.3 7.4

Average 30.5 25.0 1.8 1.8 6.1 7.2

Precast

WSBP BUY 0.1 198 230 305 16.2 18.0 5.4 0.5 0.5 2.9 8.9

WTON BUY 0.0 298 450 479 51.0 27.1 8.1 0.8 0.7 2.9 8.9

Average 22.5 6.7 0.6 0.6 2.9 8.9

Oil and Gas

PGAS BUY 0.5 1,280 1,700 1,722 32.8 23.3 18.3 0.8 0.7 3.3 4.1

AKRA BUY 0.2 3,220 4,000 4,032 24.2 14.0 12.8 1.5 1.4 10.6 11.0

MEDC BUY 0.2 575 1,090 880 89.6 n/a 7.9 0.8 0.8 -9.9 9.7

Average 18.6 13.0 1.0 1.0 1.3 8.3

Chemical

TPIA SELL 2.9 11,000 10,250 9,113 -6.8 758.6 126.4 7.6 7.6 1.0 6.0

BRPT BUY 1.3 960 1,150 1,198 19.8 200.6 122.6 5.1 5.1 2.5 4.2

ESSA SELL 0.1 362 225 540 -37.8 n/a n/a 2.5 1.2 -20.0 -0.5

Average 479.6 124.5 5.1 4.6 -5.5 3.2

Utilities

JSMR BUY 0.4 4,110 5,000 5,693 21.7 62.3 20.7 1.2 1.1 2.0 5.6

Metal

ANTM BUY 0.8 2,200 3,230 3,475 46.8 35.5 21.6 2.7 2.5 7.7 11.7

MDKA SELL 0.8 2,250 2,030 2,965 -9.8 n/a 12.2 8.2 8.9 15.7 72.9

INCO BUY 0.7 4,430 6,730 6,486 51.9 30.6 30.6 1.5 1.5 5.0 5.0

Stock Rec.

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Equity Research│6 April 2021

Coal

ITMG HOLD 0.2 12,700 13,550 14,622 6.7 8.8 8.8 1.3 1.5 14.3 16.7

ADRO BUY 0.6 1,185 1,530 1,642 29.1 8.2 8.2 0.7 0.7 8.5 8.8

PTBA BUY 0.4 2,540 3,200 3,052 26.0 10.0 8.8 1.6 1.4 15.8 16.4

Average 9.0 8.6 1.2 1.2 12.9 14.0

Plantation

AALI BUY 0.3 10,300 13,800 14,698 34.0 29.7 18.7 1.0 1.0 3.5 5.3

LSIP BUY 0.1 1,330 1,730 1,636 30.1 13.0 10.6 0.9 0.9 7.1 8.3

TBLA HOLD 0.1 905 980 1,235 8.3 7.5 6.1 0.8 0.7 11.0 12.2

SIMP SELL 0.1 510 388 513 -23.9 46.4 30.0 0.5 0.5 1.2 1.8

SSMS BUY 0.1 950 1,500 1,228 57.9 27.9 12.0 2.1 1.8 7.4 15.0

Average 24.9 15.5 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.

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Equity Research│6 April 2021

Chg (Pts)

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

World 2,873 31.08 1.09 2.42 5.29 6.43 6.80 52.70 2,875 1,776

U.S. (S&P) 4,078 58.04 1.44 2.60 5.36 8.57 8.57 61.38 4,083 2,456

U.S. (DOW) 33,527 373.98 1.13 1.37 6.80 9.54 9.54 56.57 33,618 20,735

Europe 3,946 26.75 0.68 2.96 6.43 11.07 11.07 46.77 3,949 2,626

Emerging Market 1,339 0.56 0.04 1.46 (0.04) 1.78 3.68 56.80 1,449 830

FTSE 100 6,737 23.67 0.35 0.94 1.87 4.28 4.28 22.94 6,904 5,395

CAC 40 6,103 35.73 0.59 2.53 5.05 9.94 9.94 44.59 6,106 4,142

Dax 15,107 98.83 0.66 3.32 7.60 10.12 10.12 57.85 15,111 9,337

Indonesia 5,970 (41.17) (0.68) (3.64) (4.61) (1.57) (0.15) 24.08 6,505 4,441

Japan 30,113 23.82 0.08 2.31 4.33 11.30 9.72 62.10 30,715 17,803

Australia 6,876 47.01 0.69 0.75 1.68 4.38 4.38 33.40 6,938 5,022

Korea 3,132 11.23 0.36 2.02 3.50 5.52 9.00 74.79 3,266 1,743

Singapore 3,210 28.06 0.88 1.64 6.50 12.11 12.87 29.92 3,212 2,411

Malaysia 1,584 (1.11) (0.07) (1.68) (0.99) (0.49) (2.64) 18.08 1,696 1,324

Hong Kong 28,939 560.39 1.97 3.72 (0.54) 6.27 6.27 24.31 31,183 22,520

China 3,484 18.06 0.52 1.93 (0.50) (1.26) 0.33 26.06 3,732 2,754

Taiwan 16,571 140.15 0.85 3.18 3.92 12.48 12.48 71.48 16,602 9,652

Thailand 1,580 (16.61) (1.04) (0.27) 2.30 5.85 8.99 38.71 1,606 1,131

Philipines 6,495 52.06 0.81 (1.30) (5.61) (7.84) (9.03) 16.59 7,432 5,346

Foreign Reserves (US$Bn) 138.80 0.58 3.89 2.14 6.41 138.80 127.88

Inflation Rate (yoy, %) 1.37 2.67 1.32

Gov Bond Yld (10yr, %) 6.64 (19.14) 8.25 5.86

US Fed Rate (%) 0.25 0.25 0.25

Chg (Pts)

Indonesia 14,515 (10.00) 0.07 (0.48) (1.48) (4.13) (3.20) 13.08 16,433 13,865

Japan 110.21 0.03 (0.03) 0.14 (1.20) (6.51) (6.32) (0.90) 110.97 102.59

UK 1.39 0.00 0.05 1.22 0.60 2.20 1.73 13.70 1.42 1.21

Euro 1.18 0.00 0.03 0.85 (0.25) (4.14) (3.27) 9.49 1.23 1.07

China 6.57 0.00 (0.03) (0.39) (1.47) (1.61) (0.61) 7.90 7.18 6.42

Chg (Pts)

Oil (Brent) 62.37 0.22 0.35 (4.02) (10.08) 14.86 20.41 88.71 71.38 15.98

CPO 3,570 (3.00) (0.08) (4.72) (0.67) (1.24) (0.83) 60.88 4,066 1,944

Rubber 1,098.50 3.50 0.32 (3.13) (3.00) 15.63 17.17 60.36 1,262.50 686.00

Coal 91.90 0.00 0.00 (3.67) 11.33 17.00 14.16 47.04 99.00 47.50

Tin 26,678 (860.00) (3.12) (2.87) 12.38 29.85 29.85 85.12 31,000 14,360

Nickel 16,214 146.00 0.91 0.38 (13.21) (2.40) (2.40) 43.98 20,110 11,200

Copper 8,790 4.50 0.05 0.12 (2.81) 13.19 13.19 83.13 9,617 4,841

Gold 1,730 1.80 0.10 2.71 1.83 (9.38) (8.64) 2.70 2,074 1,628

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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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

Equity Research│6 April 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

Nashrullah Putra Media, Poultry nashrullah.putra@samuel.co.id +6221 2854 8739

Olivia Laura Anggita Healthcare, Property olivia.laura@samuel.co.id +6221 2854 8393

Ahmad Fadillah Oil & Gas ahmad.fadillah@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

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