Today s Market: Top Buy: PGAS, SMGR, BBRI

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Today’s Market:

HSG diperkirakan bergerak mixed dengan kecenderungan

melemah. Bursa AS ditutup menguat menyusul sebagian

laporan keuangan yang memperlihatkan hasil yang cukup

positif. Adapun ekspektasi pengumuman tentang rencana

pemotongan pajak dari gedung putih turut dinanti oleh

pasar. Dari dalam negeri. Kemenkeu merencanakan akan

menyusun revisi UU PPh dan mengubah basis perhitungan

pajak yang diperkirakan memberikan sentimen positif bagi

beberapa emiten. Pergerakan IHSG sendiri diperkirakan

masih akan terkait perilisan laporan keuangan emiten

kuar-tal I-2017 hingga akhir pekan ini. Sedangkan untuk pekan

depan, investor diperkirakan akan mencermati angka inflasi

April 2017 dan angka pertumbuhan ekonomi kuartal I-2017

Secara teknikal indeks hari Rabu (26/4), IHSG diprediksi

bergerak di kisaran 55700-5634.

Wednesday, April 26, 2017

Source: Bloomberg, Sinarmas Investment Research

Top Buy:

PGAS, SMGR, BBRI

BoW:

GGRM

IDX Statistics Closing

JCI 5,680.80

Transaction Value Regular Market (IDR tn) 6.721 Transaction Volume Regular Market (mn shares) 6,162 Foreign Net Buy (Sell) (IDR bn) 1,310.84

Foreign Net Buy (Sell) 1.47

Total Market Capitalization (IDR tn) 6,203.91

LQ45 941.08 0.31 18.82 EIDO 26.53 (0.04) 27.12 IDX 23.23 0.09 26.18 DOW JONES 20,996.12 1.12 20.49 S&P 500 2,388.61 0.61 16.86 NASDAQ 6,025.49 0.70 20.33 FTSE 7,275.64 0.15 16.55 NIKKEI 19,079.33 1.08 0.24 HANG SENG 24,455.94 1.31 11.60 STRAITS TIMES 3,163.93 0.63 9.75 KLSE 1,765.80 0.56 4.33 USD/IDR 13,283.00 (0.19) 1.45 EUR/IDR 14,541.83 1.31 (2.44) JPY/IDR 119.42 (1.42) (3.61) SGD/IDR 9,540.01 (0.08) (2.28) AUD/IDR 10,015.67 (0.42) (2.72) GBP/IDR 17,063.89 1.08 (3.00)

Crude Oil (USD/barrel) 49.35 8:24:07 AM (8.13) Coal (USD/mn tons) 70.85 4/25/2017 (14.64) Natural Gas (USD/mmBtu) 3.05 8:23:38 AM (17.99) Gold (USD/ounce) 1,263.99 8:34:09 AM 10.16 Nickel (USD/mn tons) 9,325.00 8:34:05 AM (6.94) Tins (USD/mn tons) 19,560.00 8:33:51 AM (7.27) CPO (MYR/mn tons) 2,634.00 4/25/2017 (18.15) Rubber (JPY/kg) 260.80 8:27:38 AM (0.46) Wheat (USD/bushel) 410.50 8:24:05 AM 0.67 Corn (USD/bushel) 367.00 8:15:13 AM 4.26 Commodities

Other Indices Closing 1-Day Chg (%) _{Chg (%)}YTD

Currency Spot Rate Rate (IDR) 1-Day Chg (%) _{Chg (%)}YTD

P rice _TransactionLast _{Chg (%)}YTD

IHSG naik sebanyak 16.3 poin (0.29%) ke level 5680.8.

Sementara LQ45 naik sebanyak 2.9 poin (0.31%) ke level

941.08. Foreign net buy sebesar Rp 1310.84 miliar.

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Daily Corporate and Industry News



International Moneter Fund (IMF) alias The Fund memperkirakan ekonomi dunia pada 2017 akan tumbuh

3,5% dan pada 2018 sekitar 3,6%. Proyeksi ini jauh lebih baik ketimbang pencapaian tahun 2016 yang berada

pada 3,1%. Hal ini menjadi indikasi datang nya musim semi ekonomi dunia. Source: Bisnis Indonesia



_{Pada 2018, RI akan mengimplementasikan kebijakan pertukaran data informasi keuangan (Automatic}

Ex-change of Information/AEoI). Hal ini tidak akan menimbulkan gejolak yang berarti maupun mempengaruhi

likuiditas dan penghimpunan dana pihak ketiga. Level bermain antar negara akan sama dalam mengadopsi

sistem keterbukaan informasi perbankan untuk keperluan perpajakan. Source: Bisnis Indonesia



_{Pemerintah akan berupaya menjaga stok dan distribusi komoditas pangan selama Ramadhan dan Lebaran}

2017 agar tidak terjadi gejolak harga sehingga laju inflasi bias dijaga pada level 4% sesuai asumsi APBN 2017,

dan mengakselarasi pertumbuhan ekonomi yang ditargetkan mencapai 5,1%. Source: Investor Daily



Otoritas Jasa Keuangan (OJK) akan merevisi sejumlah peraturan terkait dengan perusahaan pembiayaan guna

mendorong pertumbuhan industri. Beberapa poin penting yakni perusahaan pembiayaan akan

diperk-enankan memberikan pinjaman tunai, setelah sebelumnya tidak boleh, serta ketentuan tentang kewajiban

pelepasan unit usaha syariah. Source: Bisnis Indonesia



Pemerintah akan merevisi Peraturan Pemerintah No. 15/2016 tentang Jenis dan Tarif Atas Jenis Penerimaan

Negara Bukan Pajak yang berlaku pada Kementerian Perhubungan. Source: Bisnis Indonesia



_{Dewan Karet Indonesia (Dekarindo) menyatakan bahwa kebijakan pembatasan ekspor karet di pasar global}

atau Agreed Export Tonage Scheme (AETS) perlu dijalankan lagiguna mendongkrak harga. Indonesia,

Thai-land, dan Malaysia yang tergabung dalam International Tripartite Rubber Council (ITRC) meminta Vietnam

untuk menjalankan kebijakan yang sama. Source: Investor Daily



Omzet produsen hilir plastik turun sebesar 3%-5% pada kuartal I/2017 dibandingkan dengan periode yang

sama tahun lalu akibat terbebani cukai plastik dan harga energi yang masih tinggi. Source: Bisnis Indonesia



Bank Rakyat Indonesia (BBRI) membidik pertumbuhan pendapatan berbasis komisi sebanyak 35,8% dari

re-alisasi sepanjang tahun lalu yang mencapai Rp 9,2 triliun. Source: Bisnis Indonesia



_{Kinerja keuangan Pembangunan Perumahan (PTPP) sepanjang tahun ini diperkirakan melampaui target yang}

dipatok perseroan seiring dengan realisasi kinerja pada kuartal I/2017. Sepanjang 3 bulan pertama tahun ini,

korporasi konstruksi dan investasi milik negara itu menaksir pertumbuhan laba bersih dapat mencapai 24%

dibandingkan dengan Rp 98,69 miliar pada kuartal I/2016. Source: Bisnis Indonesia

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Daily Corporate and Industry News



Sinar Mas Multiartha (SMMA) memaparkan rencana buyback 636,76 juta saham atau sebanyak-banyaknya

10% dari seluruh saham yang telah ditempatkan dan disetor penuh dalam perseroan. Source: Bisnis

Indone-sia



_{Bank CIMB Niaga (BNGA) resmi naik kelas menjadi bank umum kegiatan usaha (BUKU) IV dengan memiliki}

modal inti minimal Rp 30 triliun. Bahkan, saat ini modal inti bank milik CIMB Group Malaysia itu berada di

kisaran Rp 32 triliun. Source: Bisnis Indonesia



Red Planet Indonesia (PSKT) berencana membangun hotel baru di Kelapa Gading, Jakarta Utara, senilai US$ 7

juta. Source: Bisnis Indonesia



_{Delapan emiten (SMMA, ISSP, BNGA, SSIA, PALM, SRTG, KKGI, PLIN) berencana membeli kembali (buyback)}

saham untuk tujuan treasury stock dan menggulirkan program MESOP (management employee stock option

plan). Source: Bisnis Indonesia



Pupuk Indonesia Holding Company (Persero) berencana menerbitkan obligasi senilai Rp 3,5 triliun dalam

waktu dekat ini sebagai bagian dari penawaran umum berkelanjutan (PUB) dengan total target dana Rp 10

triliun. Source: Bisnis Indonesia



Perusahaan farmasi PT Phapros mencetak laba bersih Rp 10,1 miliar selama kuartal pertama tahun ini, atau

meningkat sebesar 50% secara tahunan. Lonjakan pertumbuhan laba bersih itu sejalan dengan peningkatan

penjualan. Selama periode Januari-Maret tahun ini, penjualan Phapros diklaim meningkat 10,7%. Source:

Bis-nis Indonesia

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World Equity Indices

Source: Bloomberg, Sinarmas Investment Research N O IN D IC ES

1 DOW JONES INDUS. AVG 21,169.11 17,063.08 3,571.09 20.49 15.97 17.52 2.99 3.07 5,977.78 5,977.78 2 S&P 500 INDEX 2,400.98 1,991.68 344.67 16.86 18.85 18.51 2.77 2.82 21,347.77 21,347.77 3 NASDAQ COM POSITE INDEX 6,036.02 4,574.25 1,018.08 20.33 29.95 22.99 3.61 3.69 9,385.28 9,385.28 4 S&P/TSX COM POSITE INDEX 15,943.09 13,535.54 2,735.24 21.02 21.27 17.19 1.63 1.65 2,355.87 1,731.88 5 M EXICO IPC INDEX 49,821.47 43,902.25 6,830.55 15.89 30.60 18.62 2.57 2.60 5,744.15 303.68

6 Euro Stoxx 50 Pr 3,593.13 2,678.27 315.64 9.66 21.56 15.30 1.50 1.55 2,983.51 3,266.64 7 FTSE 100 INDEX 7,447.00 5,788.74 1,033.32 16.55 34.32 14.93 1.81 1.82 1,970.71 2,530.39 8 CAC 40 INDEX 5,295.47 3,955.98 640.82 13.82 23.87 15.65 1.44 1.50 1,484.86 1,625.77 9 DAX INDEX 12,482.90 9,214.10 1,724.03 16.05 20.68 13.98 1.70 1.71 1,206.14 1,320.60 10 IBEX 35 INDEX 10,828.80 7,579.80 1,238.90 12.98 20.05 15.23 1.39 1.45 673.41 737.32 11 FTSE M IB INDEX 20,883.66 15,017.42 (612.85) (2.86) 128.97 14.52 1.12 1.14 489.36 535.80 12 AEX-Index 526.25 409.23 82.23 18.61 26.94 16.77 1.60 1.65 626.83 686.32

13 SWISS M ARKET INDEX 8,787.37 7,475.54 (42.85) (0.49) 18.25 17.81 2.59 2.63 1,112.52 1,121.26

14 S&P/ASX 200 INDEX 5,950.10 5,051.00 575.88 10.87 22.84 16.22 1.85 1.86 1,685.55 1,269.73 15 ALL ORDINARIES INDX 5,983.20 5,131.90 556.12 10.41 28.03 16.51 1.82 1.82 1,825.15 1,374.89 16 CSI 300 INDEX 3,583.72 3,027.44 (289.57) (7.76) 15.77 13.25 2.05 2.04 24,394.95 3,545.57 17 SHANGHAI SE A SHARE INDX 3,456.92 2,910.50 (421.92) (11.39) 18.80 13.58 1.99 1.99 29,650.87 4,309.47 18 SHENZHEN SE A SHARE INDX 2,243.11 1,818.47 (446.19) (18.47) 52.98 23.88 4.72 4.68 22,290.60 3,239.72 19 HANG SENG INDEX 24,656.65 19,594.61 2,541.54 11.60 10.69 12.18 1.17 1.18 15,538.05 1,997.36 20 HANG SENG CHINA ENT INDX 10,698.28 8,175.96 611.04 6.32 7.25 8.29 0.95 0.95 4,688.50 602.69 21 S&P BSE SENSEX INDEX 30,007.48 25,057.93 3,825.70 14.65 19.28 17.65 2.81 2.59 50,493.12 784.88 22 Nifty 50 9,309.20 7,678.35 1,360.25 17.12 20.73 17.49 2.67 2.46 65,639.68 1,020.33 23 JAKARTA COM POSITE INDEX 5,696.39 4,690.56 1,087.79 23.68 26.88 16.19 2.35 2.37 6,203,907.58 466.88 24 JAKARTA LQ-45 INDEX 948.74 799.21 149.05 18.82 17.14 17.76 2.85 2.90 4,089,775.10 307.78 25 KARACHI 100 INDEX 50,886.80 33,684.56 16,968.86 51.71 9.01 11.50 1.59 1.63 8,443.22 80.55 26 NIKKEI 225 19,668.01 14,864.01 45.62 0.24 20.15 16.68 1.70 1.60 339,151.97 3,055.97 27 NIKKEI 300 INDEX 314.78 239.50 (7.88) (2.53) 16.69 13.31 1.36 1.28 388,265.44 3,498.52 28 TOPIX INDEX (TOKYO) 1,578.51 1,192.80 (28.09) (1.82) 16.60 13.75 1.31 1.23 570,915.26 5,144.31 29 FTSE Bursa M alaysia KLCI 1,768.91 1,611.88 73.29 4.33 17.98 16.63 1.78 1.79 1,063.83 243.76 30 S&P NZX All Index 1,427.66 1,243.04 108.91 8.95 19.80 17.35 1.88 1.93 111.80 77.68 31 PSEi - PHILIPPINE SE IDX 8,118.44 6,499.00 748.38 10.76 20.04 18.71 2.47 2.56 9,284.12 186.75 32 Straits Times Index STI 3,189.81 2,703.48 281.20 9.75 13.26 14.59 1.14 1.13 506.33 363.40 33 KOSPI INDEX 2,206.95 1,892.75 235.54 12.01 14.72 9.84 0.94 0.96 1,367,874.30 1,211.90 34 TAIWAN TAIEX INDEX 9,976.61 7,999.98 1,503.65 18.03 13.82 13.76 1.44 1.45 28,995.18 963.71 35 STOCK EXCH OF THAI INDEX 1,600.79 1,343.13 274.25 21.29 21.94 15.28 1.71 1.68 15,394.60 447.30 36 THAI SET 50 INDEX 1,009.23 850.23 179.84 22.11 19.86 14.86 1.77 1.77 9,797.79 284.68 37 HO CHI M INH STOCK INDEX 732.87 589.97 128.55 22.20 12.53 13.73 1.72 1.67 1,722,436.61 75.75 A sia/ P acific

A merica

52-WEEK C H A N GE YT D P ER (x) P B V (x) M A R KET C A P (B n)

Euro pe

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LQ45

Source: Bloomberg, Sinarmas Investment Research H IG H L O W P O IN T % 2 0 1 5 2 0 1 6 E 2 0 1 5 2 0 1 6 E 1 A A L I IJ 1 4 ,5 0 0 1 7 ,9 5 0 1 3 ,1 2 6 (6 0 3 ) (3 .9 9 ) 4 0 .3 2 1 4 .3 6 2 .2 1 1 .5 9 2 7 ,9 0 7 .9 8 2 A D H I IJ 2 ,2 7 0 2 ,9 1 0 1 ,8 3 0 1 3 0 6 .0 7 1 4 .0 8 1 3 .7 2 1 .4 8 1 .3 2 8 ,0 8 3 .1 3 3 A D R O IJ 1 ,8 4 5 1 ,9 4 0 6 5 5 1 ,3 3 0 2 5 8 .2 5 7 .7 9 1 1 .5 7 0 .4 1 1 .3 0 5 9 ,0 1 4 .1 0 4 A K R A IJ 6 ,6 0 0 7 ,1 0 0 5 ,4 0 0 (5 7 5 ) (8 .0 1 ) 2 7 .3 1 2 1 .1 8 4 .6 5 3 .4 1 2 6 ,4 0 0 .9 4 5 A N TM IJ 7 0 0 1 ,0 0 5 6 1 5 3 8 6 1 2 2 .9 3 - 6 1 .0 5 0 .4 1 0 .9 3 1 6 ,8 2 1 .5 4 6 A S II IJ 9 ,0 2 5 9 ,3 5 0 6 ,0 0 0 3 ,0 2 5 5 0 .4 2 1 6 .7 8 1 8 .4 6 2 .3 8 2 .9 6 3 6 5 ,3 6 4 .0 7 7 A S R I IJ 3 4 8 5 8 5 3 3 2 5 1 .4 6 1 2 .0 8 8 .6 1 1 .0 4 0 .8 8 6 ,8 3 8 .0 0 8 B B C A IJ 1 7 ,4 0 0 1 7 ,7 5 0 1 2 ,6 2 5 4 ,1 0 0 3 0 .8 3 1 8 .2 1 1 8 .7 2 3 .6 7 3 .3 3 4 2 8 ,9 9 7 .1 6 9 B B N I IJ 6 ,2 0 0 6 ,9 5 0 4 ,2 7 0 1 ,2 1 0 2 4 .2 5 1 0 .2 6 8 .6 3 1 .2 1 1 .2 2 1 1 5 ,6 2 1 .6 7 1 0 B B R I IJ 1 3 ,1 2 5 1 3 ,2 5 0 9 ,5 2 5 1 ,7 0 0 1 4 .8 8 1 1 .0 9 1 1 .5 5 2 .4 8 1 .9 8 3 2 3 ,7 8 2 .7 5 1 1 B B TN IJ 2 ,3 5 0 2 ,3 9 0 1 ,5 6 0 1 ,0 5 5 8 1 .4 7 7 .4 0 8 .4 7 0 .9 9 1 .1 5 2 4 ,8 8 6 .5 0 1 2 B M R I IJ 1 1 ,5 5 0 1 2 ,4 2 5 8 ,6 5 0 2 ,3 0 0 2 4 .8 6 1 0 .6 1 1 3 .4 5 1 .8 4 1 .6 6 2 6 9 ,5 0 0 .0 0 1 3 B U M I IJ 4 0 8 5 2 0 5 0 3 5 8 7 1 6 .0 0 - 6 .1 4 - 3 .4 1 1 4 ,9 4 3 .8 2 1 4 B S D E IJ 1 ,8 1 0 2 ,3 8 0 1 ,5 5 0 1 0 0 .5 6 1 5 .9 2 1 4 .6 5 1 .8 4 1 .4 9 3 4 ,8 3 6 .5 2 1 5 C P IN IJ 3 ,3 7 0 4 ,0 2 0 2 ,8 5 0 7 7 0 2 9 .6 2 2 4 .5 5 1 6 .1 4 3 .3 4 3 .2 6 5 5 ,2 6 1 .2 6 1 6 EL S A IJ 3 8 0 6 2 0 3 7 2 1 3 3 5 3 .8 5 4 .8 1 7 .0 9 0 .6 9 0 .8 7 2 ,7 7 3 .4 3 1 7 G G R M IJ 6 4 ,5 0 0 7 7 ,9 5 0 5 9 ,2 2 5 9 ,5 0 0 1 7 .2 7 1 6 .4 4 1 6 .2 9 2 .7 9 2 .7 8 1 2 4 ,1 0 3 .6 8 1 8 H M S P IJ 3 ,8 8 0 4 ,2 5 0 3 ,5 6 0 1 2 0 3 .1 9 3 2 .3 0 3 3 .1 8 1 3 .6 6 1 2 .4 8 4 5 1 ,3 1 4 .1 4 1 9 IC B P IJ 8 ,5 0 0 1 0 ,2 7 5 7 ,3 7 5 1 ,7 6 2 2 6 .1 5 2 6 .1 9 2 5 .5 9 5 .0 8 5 .0 3 9 9 ,1 2 6 .2 2 2 0 IN C O IJ 2 ,1 5 0 3 ,6 3 0 1 ,4 9 0 5 1 5 3 1 .5 0 2 1 .2 1 3 2 .3 6 0 .6 4 0 .8 4 2 1 ,3 6 3 .1 3 2 1 IN D F IJ 8 ,1 0 0 9 ,2 0 0 6 ,8 0 0 2 ,9 2 5 5 6 .5 2 1 7 .6 6 1 5 .8 3 1 .6 7 2 .2 0 7 1 ,1 2 1 .4 5 2 2 IN TP IJ 1 6 ,3 0 0 2 0 ,0 0 0 1 4 ,2 7 5 (6 ,0 2 5 ) (2 6 .9 9 ) 1 8 .8 6 1 6 .9 2 3 .4 4 2 .1 2 6 0 ,0 0 4 .0 8 2 3 J S M R IJ 4 ,4 6 0 5 ,6 6 2 3 ,9 0 0 (7 5 3 ) (1 4 .4 4 ) 2 3 .5 9 1 7 .1 0 3 .4 1 2 .1 6 3 2 ,3 7 0 .1 1 2 4 K L B F IJ 1 ,6 0 0 1 ,8 1 5 1 ,2 9 5 2 8 0 2 1 .2 1 3 1 .0 7 2 9 .4 4 5 .9 1 5 .6 0 7 5 ,0 0 0 .2 0 2 5 L P K R IJ 8 0 5 1 ,2 1 5 6 9 0 (2 3 0 ) (2 2 .2 2 ) 4 4 .0 2 1 6 .7 0 1 .4 4 0 .9 3 1 8 ,5 7 7 .5 4 2 6 L P P F IJ 1 3 ,4 5 0 2 2 ,5 7 5 1 1 ,1 7 5 (4 ,1 5 0 ) (2 3 .5 8 ) 2 8 .8 5 1 7 .4 8 4 6 .4 3 1 4 .0 1 3 9 ,2 4 6 .0 0 2 7 L S IP IJ 1 ,3 7 0 1 ,9 0 5 1 ,3 3 0 5 0 3 .7 9 1 4 .5 1 1 2 .3 5 1 .2 3 1 .1 5 9 ,3 4 7 .3 2 2 8 M N C N IJ 1 ,8 0 5 2 ,4 1 5 1 ,4 7 0 (5 0 ) (2 .7 0 ) 2 1 .9 0 1 5 .9 1 2 .8 9 2 .6 5 2 5 ,7 6 8 .3 7 2 9 EX C L IJ 3 ,1 9 0 3 ,9 5 0 2 ,0 3 0 (4 1 0 ) (1 1 .3 9 ) - 7 0 .8 9 2 .2 1 1 .5 6 3 4 ,0 9 4 .5 9 3 0 M YR X IJ 1 3 9 1 9 2 1 0 8 1 2 9 .4 5 1 1 1 .7 0 1 0 8 .1 7 8 .9 2 1 9 0 .4 1 1 0 ,9 4 1 .9 7 3 1 P G A S IJ 2 ,5 0 0 3 ,5 2 0 2 ,1 7 0 (2 4 5 ) (8 .9 3 ) 1 1 .9 6 1 1 .0 7 1 .5 9 1 .3 9 6 0 ,6 0 3 .7 7 3 2 P TB A IJ 1 2 ,6 7 5 1 4 ,2 0 0 6 ,1 2 5 8 ,1 5 0 1 8 0 .1 1 4 .8 2 9 .7 6 1 .0 4 2 .2 5 2 9 ,2 0 4 .8 7 3 3 P TP P IJ 3 ,2 3 0 4 ,6 1 0 3 ,0 0 0 (4 5 3 ) (1 2 .3 0 ) 2 5 .4 0 1 3 .8 7 4 .2 5 1 .8 7 2 0 ,0 2 5 .6 7 3 4 P W O N IJ 6 3 5 7 6 5 4 8 2 1 3 9 2 8 .0 2 1 8 .9 3 1 5 .1 4 3 .3 1 2 .8 5 3 0 ,5 8 1 .3 5 3 5 S C M A IJ 2 ,8 9 0 3 ,5 5 0 2 ,1 3 0 (2 1 0 ) (6 .7 7 ) 2 9 .6 5 2 3 .4 5 1 4 .4 1 1 0 .3 3 4 2 ,2 5 6 .4 3 3 6 P P R O IJ 2 6 8 3 7 2 7 0 2 2 4 5 0 9 .0 9 7 .0 9 3 4 .5 8 0 .9 9 - 1 6 ,3 2 8 .9 3 3 7 S M G R IJ 8 ,9 7 5 1 1 ,8 7 5 8 ,0 5 0 (2 ,4 2 5 ) (2 1 .2 7 ) 1 4 .9 5 1 3 .7 3 2 .5 6 1 .7 1 5 3 ,2 3 5 .3 9 3 8 S M R A IJ 1 ,3 9 5 1 ,9 7 0 1 ,2 2 5 (2 5 5 ) (1 5 .4 5 ) 2 7 .9 0 4 4 .4 6 3 .9 6 2 .9 1 2 0 ,1 2 5 .3 6 3 9 S R IL IJ 3 1 0 4 9 6 2 0 4 (7 9 ) (2 0 .3 1 ) 9 .4 6 - 1 .8 9 - 5 ,7 6 3 .8 0 4 0 S S M S IJ 1 ,6 4 0 1 ,9 2 0 1 ,3 0 0 (3 1 0 ) (1 5 .9 0 ) 3 7 .3 6 2 1 .3 0 6 .1 6 3 .9 2 1 5 ,6 2 1 .0 0 4 1 TL K M IJ 4 ,4 2 0 4 ,5 7 0 3 ,4 1 0 1 ,3 2 9 4 3 .0 0 1 9 .5 9 1 9 .4 0 4 .0 4 4 .5 7 4 4 5 ,5 3 5 .9 8 4 2 U N TR IJ 2 6 ,6 0 0 2 9 ,4 5 0 1 2 ,5 5 0 9 ,6 5 0 5 6 .9 3 1 6 .4 0 1 5 .4 5 1 .6 7 2 .2 1 9 9 ,2 2 1 .5 9 4 3 U N V R IJ 4 5 ,3 0 0 4 7 ,8 0 0 3 7 ,8 2 5 8 ,3 0 0 2 2 .4 3 4 8 .2 6 4 8 .3 4 5 8 .4 8 6 2 .1 3 3 4 5 ,6 3 9 .0 0 4 4 W IK A IJ 2 ,3 6 0 3 ,1 3 9 2 ,0 3 7 (8 5 ) (3 .4 8 ) 2 5 .7 4 1 7 .4 0 3 .7 1 1 .7 0 2 1 ,1 6 9 .0 9 4 5 _{W S K T IJ} 2 ,3 8 0 2 ,8 6 0 2 ,1 2 0 7 1 0 4 2 .5 1 2 0 .6 6 1 3 .6 2 2 .3 7 2 .0 5 3 2 ,3 0 5 .4 3 M A R K ET C A P (B n ) L Q 4 5 In d e x 2 5 -A p r -1 7 5 2 -W EEK C H A N G E Y TD P ER (x ) P B V (x )

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Macro data

Source: Bloomberg, Sinarmas Investment Research

D escriptio n 1-D ay (%) 5-D ays (%) 1-M o nth (%) YT D (%) Property 0.35 0.76 0.72 (1.49) Basic Industry 1.02 0.62 5.24 13.50 Trade (0.34) (0.26) 0.98 6.27 Finance 0.69 0.60 0.41 8.71 M iscellaneous Industry (1.25) 4.96 5.22 10.72 Consumer 0.10 0.43 0.96 5.02 Infrastructure 0.88 4.72 5.77 9.38 Agriculture (0.25) (1.73) (0.33) (2.45) M ining 0.20 (1.07) 2.54 10.51 M ar-17 F eb-17 1.19 7.76 3.61 3.83 -0.02 0.23 121.81 119.86 -1.77 4.94 5.01 F OR EX Spo t R ate 1-D ay (%) 1-M o nth (%) YT D (%) USD/IDR 13,278.00 0.05 0.24 1.47 USD/CNY 6.89 (0.02) (0.19) 0.85 USD/EUR 0.91 (0.08) (0.66) (3.80) USD/JPY 111.24 (0.13) (0.52) 5.14 USD/SGD 1.39 0.06 0.02 3.85 USD/AUD 1.33 (0.11) 0.99 (4.54) USD/GBP 0.78 0.00 (2.16) (3.83) (in %) 7.25 0.69 1.46 6.72 7.07 Indonesia 5-Year Government Bonds Yield

Indonesia 10-Year Government Bonds Yield

Lending and D epo sit R ates

JIBOR (in IDR) LIBOR (in GBP) SIBOR ( in USD) Inflation M oM (in %) Foreign Reserves (in USD bn) GDP Growth QoQ (in %) GDP Growth YoY (in %)

Secto rs

Eco no mic Indicato rs

Inflation YTD (in %)

Eco no mic P arameters

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Upcoming IPO

Dividend

Rights Issue

2016 2017 APBNP RAPBN GDP Growth (%, YoY) _5,2% _5,3%

Exchange rate (USD/IDR) ₁₃₅₀₀ ₁₃₃₀₀

Inflation (%, YoY) _4% _4%

3 Months SPN (%) _5,5% _5,3%

Indonesian Crude Oil (USD/barrel) ₄₀ ₄₅

Oil Lifting ( thousands barrel/day) ₈₂₀ ₇₈₀

Gas Lifting (thousands, BOE/day) _1.11 _1.15

Total State Budget (in IDR trillion) ₁₇₈₆ ₁₇₃₇

INDICATOR

Stock DPS (Rp) Status Cum Date Ex Date Recording Payment

XCID 1.4833 Cash 02/03/2017 _03/03/2017 _07/03/2017 21/03/2017

BJTM 43.64 Cash 07/02/2017 08/02/2017 10/02/2017 02/03/2017

Ticker Price (Rp) Cum Date EX Date Trading

BKSL 3 : 5 112 30/03/2017 31/03/2017 06/04/2017 - 12/04/2017 PPRO 30/03/2017 31/03/2017 06/04/2017 - 12/04/2017 LEAD 07/03/2017 08/03/2017 15/03/2017 - 21/03/2017 POOL 1 : 4 250 06/03/2017 07/03/2017 13/03/2017 - 17/03/2017 RIMO 597 : 5 101 06/03/2017 07/03/2017 13/03/2017 - 17/03/2017 BPFI 100 : 613 284 02/03/2017 03/03/2017 09/03/2017 - 15/03/2017 LEAD 27/02/2017 28/02/2017 08/03/2017 - 14/03/2017 PSKT 3 : 5 100 09/02/2017 10/02/2017 16/02/2017 - 22/02/2017 BULL 1 : 1 100 06/01/2016 07/02/2017 13/02/2017 - 21/02/2017 Ratio

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(Rp)

Issued Shares (Mn)

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Picks of The Day

PGAS : Trading Buy

PGAS memiliki indikator MACD dan Rsi yang mengindikasikan pola Uptrend. PGAS berhasil menembus Resistance pada level harga 2500 dan terbuka

peluang untuk mencoba level Resistance pada level 2530 dalam jangka pendek. Trading Range : 2460 — 2550.

Fundamental :

SMGR : Trading Buy

SMGR memiliki indikator Stoc osc , MACD dan Rsi yang mengindikasikan pola Uptrend. SMGR berhasil menembus Resistance pada level 8950 dan ter-buka peluang untuk mencoba level Resistance pada level 9050 dalam jangka pendek, Trading range : 8850 — 9200.

Fundamental :

Wednesday, April 26, 2017

C reat ed wit h Am iBrok er - adv anc ed c hart ing and t ec hnic al analy s is s of t ware. ht t p: / / www. am ibrok er. c om

Apr May Jun Jul Aug Sep Oct Nov Dec 2017 Feb Mar Apr

2,200 2,300 2,400 2,500 2,600 2,700 2,800 2,900 3,000 3,100 3,200 3,300 3,400 3,500 PGAS - Daily 4/25/2017 4:14:32 PM Open 2440, Hi 2510, Lo 2440, Clos e 2500 (3.7%)MA(Clos e,50)= 2,629.60

2,500

2,629.6

Apr May Jun Jul Aug Sep Oct Nov Dec 2017 Feb Mar Apr -100

0 100 200 PGAS -MACD(12,26)= -48.72,Signal(12,26,9)= -56.33

-48.7206

-56.3323

20 80 PGAS -Stoch %K(15,3)= 33.33,Stoch %D(15,3,3)= 22.41

33.3333 22.4114 30 70 PGAS -RSI(15)= 48.08 48.0774

Apr May Jun Jul Aug Sep Oct Nov Dec 2017 Feb Mar Apr 8,000

8,500 9,000 9,500 10,000 10,500 11,000 11,500 12,000 SMGR - Daily 4/25/2017 4:09:21 PM Open 8825, Hi 8975, Lo 8800, Clos e 8975 (3.2%)MA(Clos e,50)= 9,197.50

8,975

9,197.5

-400 -200 0 200 400 SMGR -MACD(12,26)= -104.72,Signal(12,26,9)= -95.16 -104.716 -95.1643 20 80 SMGR -Stoch %K(15,3)= 23.19,Stoch %D(15,3,3)= 12.95 23.1884 12.9478 30 70 SMGR -RSI(15)= 49.07 49.0667

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Picks of The Day

BBRI : Trading Buy

BBRI memiliki indikator Macd, Stoc osc dan Rsi mengindikasikan pola Uptrend, BBRI berhasil menembus Resistance di level harga 13100 sehingga terbuka peluang untuk menguji Resistance dalam jangka pendek pada level harga 13250 Trading Range : 12950 — 13400.

Fundamental :

GGRM : Buy on Weakness

GGRM memiliki indikator Macd, dan Rsi mengindikasikan pola Uptrend, GGRM belum berhasil menembus Resistance di level harga 64625 sehingga terbuka peluang untuk menguji Support dalam jangka pendek pada level harga 64200 Trading range : 63500 — 65100.

Fundamental :

Apr May Jun Jul Aug Sep Oct Nov Dec 2017 Feb Mar Apr 9,500

10,000 10,500 11,000 11,500 12,000 12,500 13,000 BBRI - Daily 4/25/2017 4:09:16 PM Open 13000, Hi 13150, Lo 13000, Clos e 13125 (1.5%)MA(Clos e,50)= 12,450.00

13,125

12,450

-200 0 200 400 BBRI -MACD(12,26)= 106.42,Signal(12,26,9)= 138.67

106.422

138.668

20 80 BBRI -Stoch %K(15,3)= 61.62,Stoch %D(15,3,3)= 48.15

61.6162 48.1481 30 70 BBRI -RSI(15)= 59.70 59.7019

60,000 62,000 64,000 66,000 68,000 70,000 72,000 74,000 76,000 78,000 GGRM - Daily 4/25/2017 4:10:27 PM Open 64200, Hi 64500, Lo 63650, Clos e 64500 (0.5%)MA(Clos e,50)= 64,398.50

64,500

64,398.5

-1,000 0 1,000 2,000 GGRM -MACD(12,26)= -97.64,Signal(12,26,9)= 279.12 -97.6444 279.122 20 80 GGRM -Stoch %K(15,3)= 11.66,Stoch %D(15,3,3)= 8.94 11.6585 30 70 GGRM -RSI(15)= 46.42 46.4171

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These recommendations are based on technical indicators and are suitable for daily trading purposes.

TICKER REC PRICE ENTRY EXIT S2 S1 R1 R2 EXPLANATION

AALI BoW 14,500 14,400 14,600 14,300 14,400 14,600 14,750 Gravestone doji

LSIP BoW 1,370 1,350 1,385 1,335 1,350 1,385 1,410 Black spinning top

BWPT Sell 320 320 314 308 314 324 330 Stoc osc : downtrend

BMRI BoW 11,550 11,450 11,675 11,350 11,450 11,675 11,800 Black spinning top

BBRI Buy 13,125 13,125 13,250 12,950 13,050 13,250 13,400 Morning star

BBCA BoW 17,400 17,250 17,600 17,100 17,250 17,600 17,800 Stoc osc : uptrend

BBNI BoW 6,200 6,125 6,250 6,000 6,125 6,250 6,350 White spinning top

BBTN Buy 2,350 2,350 2,380 2,280 2,320 2,380 2,430 Stoc osc : uptrend

BJTM Buy 700 700 720 650 680 720 750 Morning star

BJBR BoW 2,040 2,000 2,080 1,960 2,000 2,080 2,120 Rsi : neutral

INDF BoW 8,100 8,025 8,150 7,950 8,025 8,150 8,250 Long legged doji

ICBP Buy 8,500 8,500 8,600 8,300 8,400 8,600 8,700 Stoc osc : uptrend

GGRM BoW 64,500 64,200 65,100 63,500 64,200 65,100 65,500 Rsi : uptrend

UNVR BoW 45,300 45,150 45,500 44,950 45,150 45,500 45,800 Rsi : downtrend

CPIN Buy 3,370 3,370 3,400 3,310 3,340 3,400 3,440 Stoc osc : uptrend

ASII BoW 9,025 8,975 9,150 8,850 8,975 9,150 9,250 Stoc osc : uptrend

SMGR Buy 8,975 8,975 9,050 8,750 8,850 9,050 9,200 Morning star

INTP BoW 16,300 16,100 16,500 15,900 16,100 16,500 16,700 Rsi : reversal

SMCB BoW 905 895 915 885 895 915 925 Rsi : reversal

TLKM BoW 4,420 4,350 4,460 4,250 4,350 4,460 4,520 Stoc osc : uptrend

PGAS Buy 2,500 2,500 2,530 2,420 2,460 2,530 2,550 Morning star

JSMR BoW 4,460 4,430 4,490 4,400 4,430 4,490 4,520 Black spinning top

TBIG Buy 6,075 6,075 6,125 5,875 5,975 6,125 6,175 Rsi : uptrend

MAPI BoW 6,175 6,125 6,225 6,075 6,125 6,225 6,325 White spinning top

RALS Buy 1,175 1,145 1,210 1,120 1,145 1,210 1,240 Rsi : uptrend

ACES Buy 930 930 950 880 910 950 970 Stoc osc : reversal

MPPA BoW 920 910 940 900 910 940 950 Macd : downtrend

PTBA BoW 12,675 12,575 12,825 12,425 12,575 12,825 12,975 Rsi : uptrend

ADRO BoW 1,845 1,830 1,860 1,810 1,830 1,860 1,890 Macd : downtrend

ITMG BoW 19,100 18,600 19,500 18,200 18,600 19,500 19,800 White spinning top

ANTM BoW 700 690 710 680 690 710 730 Doji

TINS Sell 940 930 950 910 930 950 970 Stoc osc : downtrend

UNTR Sell 26,600 26,600 26,500 26,200 26,500 26,950 27,300 Macd : downtrend

ASRI BoW 348 342 352 338 342 352 356 Black spinning top

LPKR Buy 805 805 825 745 775 825 845 Stoc osc : uptrend

CTRA BoW 1,300 1,290 1,320 1,265 1,290 1,320 1,340 Stoc osc : overbought

APLN BoW 212 208 216 204 208 216 220 Stoc osc : downtrend

SMRA BoW 1,395 1,380 1,410 1,360 1,380 1,410 1,440 Stoc osc : uptrend

SSIA Sell 710 710 690 670 690 735 760 Macd : downtrend

BSDE BoW 1,810 1,790 1,840 1,760 1,790 1,840 1,860 Black spinning top

PTPP BoW 3,230 3,180 3,250 3,160 3,180 3,250 3,300 Rsi : uptrend

WSKT BoW 2,380 2,350 2,410 2,335 2,350 2,410 2,440 Black spinning top

WIKA BoW 2,360 2,340 2,390 2,310 2,340 2,390 2,410 Macd : uptrend

ADHI BoW 2,270 2,250 2,300 2,230 2,250 2,300 2,340 Rsi : downtrend

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