JCI Index DAILY RESEARCH. Previous Day:

(1)

Previous Day:

Pada penutupan perdagangan hari Rabu (4/6), IHSG turun sebanyak –9,59 poin (-0,19%) ke level 4932,56. Ada sebanyak 129 saham yang naik, 151 saham yang mengalami koreksi, dan 96 saham yang stagnan. Total perdagangan hari ini seban-yak Rp 5,521 triliun. LQ45 turun -3,21 poin (-0,38%) ke level 832,09. Sektor-sektor di zona hijau adalah sektor perdagan-gan naik 0,54%, sektor consumer goods naik 0,38%, dan sek-tor konstruksi naik 0,12%. Seksek-tor-seksek-tor di zona merah adalah sektor keuangan turun 0,71%, sektor agrikultur turun 0,63%, dan sektor infrastruktur turun 0,52%. Foreign net buy sebesar Rp 908,21 miliar. Indeks Nikkei melejit 0,22%. Indeks Straits Times melemah 0,51%. Indeks Hang Seng berkurang 0,60%. Indeks Shanghai turun 0,65%.

Today’s Market:

Secara teknikal indeks hari Kamis (5/6) diperkirakan akan bergerak turun di level 4906-4950. Dirilisnya data non-manufacturing PMI AS bulan Mei yang naik ke level 56,3 (estimasi 55). Data tersebut menunjukan industri jasa di AS yang membaik. Selain itu The Fed dalam Beige Book mendu-kung pandangan Janet Yellen akan membaiknya perekono-mian AS pada kuartal pertama. Sedangkan di kawasan Eropa, bank sentral utama (ECB) diperkirakan akan membuka opsi pemangkasan suku bunga setelah Juni 2013 yang akan turut memberikan sentimen terhadap indeks.

Top Technical Buys:

SSIA, GJTL, SMGR, LPKR

Sinarmas Investment Research/ 62 21 3925550/research@sinarmassekuritas.co.id

DAILY RESEARCH

UNDERVALUED STOCKS 2014: MYOR 34,600 ROTI 1,330 Closing JCI Transaction Value (Rp tn) Transaction Volume (mn shares)

Foreign Net Buy (Sell) (Rp bn) 908.21 Foreign Net Buy (Sell) YTD (Rp tn) 44.31 as percentage of last year's 1.26 Total Market Capitalization (Rp tn) 4,591.83

Closing 1 Day Return % YTD Change % 4,932.56 (0.19) 15.4 832.09 (0.38) 17.0 27.23 (2.02) 19.2 24.98 (1.85) 17.5 16,737.53 0.09 1.0 1,927.88 0.19 4.3 4,251.64 0.41 1.8 6,818.63 (0.26) 1.0 15,067.96 0.22 (7.3) 23,291.04 (0.60) (0.7) 3,296.67 (0.51) 3.6 1,865.20 (0.39) (0.1) FOREX Change YTD Change % USD/IDR 80.00 2.4 EUR/IDR (3.50) 3.5 JPY/IDR 0.03 (0.0) SGD/IDR (1.83) 1.8 AUD/IDR 88.77 (1.6) GBP/IDR 134.02 1.1 Price 1 Day Return % YTD Change % CRUDE OIL (USD)/BARREL 102.29 (0.34) 3.9 COAL (USD) / MT 73.75 (0.61) (9.7) NATURAL GAS (USD) / mmBtu 4.65 0.11 9.8

GOLD (USD) / OUNCE 1,243.93 0.00 3.1 NICKEL (USD) / MT 19,135.00 0.58 37.7 TIN (USD) / MT 23,225.00 (0.36) 3.9 CPO (MYR) / MT 2,440.00 1.67 (7.2) RUBBER (JPY)/KG 182.90 (0.22) (34.6) WHEAT/BUSHEL 6.14 (0.16) 1.4 CORN/BUSHEL 4.57 0.22 8.4 11,890.00 16,179.72 115.91 HANG SENG DOW JONES S&P 500 NASDAQ FTSE NIKKEI 4,932.56 5.521 4,346 IDX Statistics Commodities JCI LQ45 EIDO IDX 9,456.23 11,026.64 19,894.92 Key Indices STRAITS TIMES KLSE Rate (IDR)

See important disclaimer at the end of this report

Thursday, June 05, 2014 4,910 4,920 4,930 4,940 4,950 4,960

JCI Index

(2)

2

CORPORATE NEWS

•

PT Ramayana Lestari Sentosa Tbk (RALS) mulai menjual Robinson. Perusahaan telah menunjuk CIMB Niaga sebagai penjamin emisi (underwriter). Perusahaan masih menjajaki dua opsi ekspansi. Opsi pertama yaitu perusahaan akan menggandeng investor untuk membentuk perusahaan patungan. Opsi kedua, sahan akan mendivestasi atau melepas kepemilikan supermarket Robinson kepada investor. Saat ini peru-sahaan telah mengoperasikan lebih dari 80 gerai supermarket Robinson. (Positive) Source: Kontan

•

PT Medco Energi Internasional Tbk (MEDC) gencar membangun pembangkit setrum melalui anak usa-hanya, PT Medco Power Indonesia. Ada 3 jenis pembangkit setrum yang akan mereka garap sepanjang 2014 ini. Medco Power akan menambah kapasitas Pembangkit Listrik Tenaga Gas (PLTG) di Batam sebesar 70 Megawatt (MW). Listrik ini nantinya akan disalurkan ke sistem jaringan Batam berkapasitas 150 kilo volt (kV). Saat ini harga listrik PLTP tepat tanggal 1 Juni 2014 naik dari US$ 9-11,5 sen per KwH menjadi US$ 11-12 sen per KwH. (Positive) Source: Kontan

•

PT Chitose Internasional Tbk menawarkan 30% saham perdana (IPO) ke public atau setara dengan 300 juta saham. Perusahaan akan menggunakan 55% dana IPO untuk membeli tanah dan membangun pabrik baru di kota Cimahi, Jawa Barat. Sisanya 25% untuk membeli tanah seluas 6.610 m² milik Dirut Chitose sendiri. Produsen furnitur berskala besar ini sudah memiliki pabrik di Cimahi yang berkapasitas 1,3 juta unit per tahun dan mampu menghasilkan lebih dari 300 varian produk. Source: Bisnis Indonesia, Kontan

•

PT Unilever Indonesia Tbk (UNVR) akan menambah belanja modal menjadi Rp 1,4 triliun dari

sebelum-nya Rp 1 triliun. Penambahan ini disebabkan oleh penambahan kebutuhan perluasan kapasitas produksi dan kabinet es krim. Perusahaan akan agresif menggenjot volume penjualan. (Positive) Source: Kontan

(3)

3

Eddy Wijaya/ Technical Analyst/62 21 3925550

TRADING VIEW

Thursday, June 05, 2014

ItmgRESEARCH DEPARTMENT

TICKER RECOMMENDATION PRICE ENTRY EXIT S2 S1 R1 R2 EXPLANATION AGRICULTURE

AALI Trading Sell 26800 26800 26700 26600 26700 26900 27100 Macd : downtrend BWPT Buy on Weakness 1315 1305 1330 1295 1305 1330 1345 Stoc osc : uptrend LSIP Trading Sell 2290 2290 2260 2230 2260 2305 2335 Black spinning top BANK & FINANCE

BMRI Trading Sell 10150 10050 10225 9950 10050 10225 10300 Macd : downtrend BBRI Buy on Weakness 10275 10200 10350 10125 10200 10350 10425 Stoc osc : reversal BBNI Buy on Weakness 4900 4880 4920 4860 4880 4920 4940 Gravestone doji BBCA Buy on Weakness 11050 10925 11150 10800 10925 11150 11300 Black spinning top CONSUMER GOODS

INDF Buy on Weakness 6900 6850 6950 6800 6850 6950 7050 Stoc osc : uptrend ICBP Buy on Weakness 10200 10100 10250 1000 10100 10250 10325 Rsi : uptrend GGRM Trading Buy 53800 53800 54000 53300 53550 54000 54250 Stoc osc : uptrend UNVR Trading Buy 30275 30275 30525 29775 30025 30525 30775 Stoc osc : uptrend CPIN Buy on Weakness 3810 3790 3830 3760 3790 3830 3850 Stoc osc : reversal MAIN Trading Sell 2950 2950 2930 2910 2930 2970 3010 Rsi : downtrend BASIC & MISC INDUSTRY

ASII Buy on Weakness 7175 7125 7225 7075 7125 7225 7275 Macd : downtrend SMGR Trading Buy 15100 15100 15225 14950 15050 15225 15400 Stoc osc: uptrend INTP Buy on Weakness 23175 23125 23225 23075 23125 23225 23275 Stoc osc : reversal INFRASTRUCTURE

TLKM Buy on Weakness 2520 2500 2540 2470 2500 2540 2560 Long legged doji PGAS Trading Sell 5225 5225 5175 5125 5175 5300 5425 Macd : downtrend JSMR Trading Buy 5975 5975 6025 5875 5925 6025 6100 Stoc osc : uptrend TBIG Trading Sell 7725 7725 7675 7550 7675 7900 8100 Stoc osc : downtrend

RETAIL

MAPI Buy on Weakness 5100 5050 5150 5000 5050 5150 5225 Macd : reversal RALS Trading Buy 1270 1270 1290 1235 1250 1290 1310 Gravestone doji ACES Trading Sell 875 875 865 850 865 890 915 Macd : downtrend MPPA Buy on Weakness 3235 3225 3250 3210 3225 3250 3280 Rsi : uptrend MINING

PTBA Buy on Weakness 11150 11050 11300 10950 11050 11300 11500 Stoc osc : uptrend ADRO Buy on Weakness 1280 1270 1290 1260 1270 1290 1310 Stoc osc : uptrend ITMG Buy on Weakness 29600 29500 29700 29300 29500 29700 29900 Stoc osc : uptrend ANTM Buy on Weakness 1190 1170 1195 1155 1170 1195 1205 Stoc osc : reversal TINS Buy on Weakness 1415 1415 1425 1390 1415 1425 1435 Macd : neutral UNTR Trading Buy 22450 22450 22550 22225 22350 22550 22700 Macd : golden cross PROPERTY

ASRI Buy on Weakness 493 491 496 486 491 496 500 Macd : neutral LPKR Trading Buy 1045 1045 1060 1015 1030 1060 1100 Morning star CTRA Buy on Weakness 1075 1060 1090 1045 1060 1090 1115 Black spinning top APLN Buy on Weakness 269 267 272 265 267 272 275 Stoc osc : downtrend SMRA Trading Sell 1205 1205 1190 1175 1190 1215 1230 Macd : downtrend SSIA Trading Buy 730 730 745 700 715 745 760 Macd : uptrend BSDE Buy on Weakness 1575 1565 1590 1550 1565 1590 1610 Rsi : uptrend WIKA Buy on Weakness 2330 2310 2350 2290 2310 2350 2370 Rsi : uptrend PTPP Trading Sell 1840 1840 1830 1810 1830 1860 1880 Macd : downtrend ADHI Trading Sell 3010 3010 2990 2970 2990 3030 3050 Macd : downtrend

(4)

4

Global Equity Indices

Description YTD Change % 5-Jun-14 Forward 2014 P/E Ratio (Best Est.)

LQ45 17.0 832 Nikkei 225 (7.3) 15,106 JCI 15.4 4,933 FTSE 100 1.0 6,819 ASX 200 1.4 5,425 DJIA 1.0 16,738 S&P500 4.3 1,928 STI 3.6 3,280 CAC 40 4.8 4,501 Shanghai Composite (4.3) 2,025 DAX 3.9 9,927 KOSPI (0.6) 2,000 Hang Seng (0.7) 23,152 Euro Stoxx 4.1 3,238

Description YTD Change % 5-Jun-14 Description YTD Change % 5-Jun-14

AALI 6.8 26,800 ICBP 0.0 10,200 ADRO 17.4 1,280 IMAS (3.4) 4,735 AKRA 0.2 4,385 INCO 47.2 3,900 ANTM 9.2 1,190 INDF 4.5 6,900 ASII 5.5 7,175 INDY 17.8 695 ASRI 14.7 493 INTP 15.9 23,175 BBCA 15.1 11,050 ITMG 3.9 29,600 BBNI 24.1 4,900 JSMR 26.5 5,975 BBRI 41.7 10,275 KLBF 26.8 1,585 BBTN 19.0 1,035 LPKR 14.8 1,045 BDMN 14.0 4,305 LSIP 18.7 2,290 BHIT (7.6) 314 MAIN (7.1) 2,950 BKSL (13.4) 136 MAPI (7.3) 5,100 BMRI 29.3 10,150 MNCN 8.4 2,845 BMTR 8.9 2,070 PGAS 16.8 5,225 BSDE 22.1 1,575 PTBA 9.3 11,150 BUMI (33.3) 200 SMCB 16.5 2,650 BWPT (1.1) 1,315 SMGR 6.7 15,100 CPIN 12.9 3,810 SSIA 30.4 730 EXCL (1.9) 5,100 TLKM 18.3 2,520 GGRM 28.1 53,800 UNTR 18.2 22,450 GIAA (11.9) 437 UNVR 16.4 30,275

HRUM (10.9) 2,450 JAKPROP INDEX_{JAKBIND INDEX}

Sectors JAKFIN INDEX

Description _{JAKCONS INDEX}

Property 0.8 JAKMIND INDEX

Basic Industry 3.4 JAKINFR INDEX

Trade 0.2 JAKAGRI INDEX

Finance 2.0 JAKMINE INDEX

Miscellaneous Industry 0.1 Consumer (2.5) Infrastructure 4.5 Agriculture (3.9) Mining 7.3 1-mth Return % Selected Indonesian Equities

15.2 17.1 15.6 14.1 15.3 15.0 16.3 14.5 15.2 8.0 13.8 8.2 10.8 14.5

(5)

5

Global Reference Rates FOREX Rate (USD) Change %

FED Rate 0.25 USDIDR 11,883 0.06 BI Rate 7.50 USDEUR 0.74 (0.01)

ECB Rate 0.25 USDJPY 103 0.12 BOJ Rate 0.10 USDSGD 1.26 0.05 BOE Rate 0.50 USDAUD 1.08 0.04 PBOC Rate 6.00 USDGBP 0.60 (0.02)

Description May April

Inflation YTD (%) 1.56 1.39 8.40 Inflation YOY (%) 7.32 7.25 0.95 Inflation MOM (%) 0.16 (0.02) 1.46 Foreign Reserves (USD bn) 105.60 7.69 GDP YOY Growth Rate 1Q14 (%) 5.21 8.03 GDP Growth Rate 2014 (%) 0.95 8.50

Dual Listed Price (IDR) Change %

TLKM (US) 2,614.26 0.00 ANTM (GR) 1,034.29 0.00 %

Lending & Deposit Rates

INDOGB 15Y YIELD (%) JIBOR (IDR) (%) LIBOR (GBP) (%) SIBOR (USD) (%) INDOGB 5Y YIELD (%) INDOGB 10Y YIELD (%)

MACRO INDICATORS RAPBN 2014 APBN-P 2013 APBN 2013

GDP (%) 5.8-6.1 6.3 6.8

Inflation (%) 4.5-5.5 7.2 4.9 IDR/USD (IDR) 10,000-10,500 9,600 9,300 SBI—3 Months (%) 5.5 5.0 5.0 Crude Oil (USD/brl) 106 108 100 Oil Production (bpd) 870,000 840,000 900,000 Total APBN (IDR tn) 1,240 1,726 1,683

DISCLAIMER

This material is issued by PT Sinarmas Sekuritas, a member of Indonesia Stock Exchanges, represent the opinion of PT Sinarmas Sekuritas, derived its judgment from sources deemed reliable, however, PT Sinarmas Sekuritas and its affiliated cannot guarantee its accuracy and completeness. PT Sinarmas Sekuritas or its affiliates may be involved in transactions contrary to any opinion herein or have positions in the securities recommended herein and may seek or will seek investment banking or other business relationships with the companies in this material. PT Sinarmas Sekuritas, its employees and its affiliates, expressly disclaim any and all liability for representation or warranties, expressed or implied, here in or omission there from or for any loss how so ever arising from any use of this material or its contents or otherwise arising in connection there with. Opinion expressed in this material are our present view and are subject to change without no-tice.

(6)

6

Dividend

Upcoming IPO

Company Business Offering Date IPO Price (IDR)

Issued Shares (Mn)

Listing

PT Link Net Media Support Trade & Service

22 Mei– 2 Juni 2014 1575-1600 304.26 2 Juni 2014 Ticker Status DPS (IDR) Cum Date Ex Date Recording Payment TBIG Final 60 3 Juni 2014 4 Juni 2014 6 Juni 2014 20 Juni 2014 HMSP Final 927 3 Juni 2014 4 Juni 2014 6 Juni 2014 20 Juni 2014 MTDL Final 12.5 3 Juni 2014 4 Juni 2014 6 Juni 2014 20 Juni 2014 MLBI Final 46076 5 Juni 2014 6 Juni 2014 10 Juni 2014 24 Juni 2014 AKRA Final 15 5 Juni 2014 6 Juni 2014 10 Juni 2014 24 Juni 2014 ELSA Final 16.30 5 Juni 2014 6 Juni 2014 10 Juni 2014 24 Juni 2014 DLTA Final 12000 5 Juni 2014 6 Juni 2014 10 Juni 2014 24 Juni 2014 MREI Final 40 9 Juni 2014 10 Juni 2014 12 Juni 2014 26 Juni 2014 SSIA Final 30 9 Juni 2014 10 Juni 2014 12 Juni 2014 26 Juni 2014 ACES Final 6 9 Juni 2014 10 Juni 2014 12 Juni 2014 26 Juni 2014 ARNA Final 16 9 Juni 2014 10 Juni 2014 12 Juni 2014 26 Juni 2014 LPPF Final 157.7 11 Juni 2014 12 Juni 2014 16 Juni 2014 30 Juni 2014

Ticker NS:OS Price (IDR) Cum Date Ex Date Trading

IBST 2:11 3176 28 April 2014 29 April 2014 6 Mei-13 Mei 2014 BKSW 422:1000 250 9 Juni 2014 10 Juni 2014 16 Juni -20 Juni 2014

Rights Issue