RISET SAHAM HARIAN SAMUEL SEKURITAS INDONESIA. jcii Wei mi S wwei uwei. Senin, 21 Maret Sejumlah sentimen berpotensi mewarnai IHSG

(1)

1 Wei

mI

‘S wWei

uWei

:

4,885.7

:

+0.0 (+0.0%)

:

5,117

Mn shrs

:

7,104

Bn rupiah

+/-

%

ASII

7,450

125

1.7 UNVR

44,450

575

1.3 BBRI

11,125

125

1.1 EMTK

9,700

400

4.3 HMSP

101,800

-2,550

-2.4

GGRM

61,000

-1,500

-2.4

INDF

6,875

-325

-4.5

ADRO

680 -65

-8.7

Foreign Net Buy / Sell

Net Buy (Rpbn)

Net Sell (Rpbn)

ASII

200 PGAS

94 BBRI

154 INDF

79 BBNI

95 ADRO

56 BSDE

88 HMSP

38 TLKM

82 INCO

24 Money Market

+/-

%

USD/IDR

13,120

25.0

0.2

JIBOR O/N

4.9 -0.2

-Infl (MoM)

-0.1

-

-Dual Listing Securities

+/-

%

TLKM

53.2 -0.4

-0.8

ISAT

37.6

0.5

1.3 EIDO

24.0 -0.3

-1.3

World Indices

+/-

%

DJIA

17,602

121

0.7 S&P 500

2,050

9

0.4

Euro Stoxx

3,060

17

0.5

MSCI Worl d

1,646

3

0.2 Nikkei

16,936

-38

-0.2

Hang Seng

20,672

168

0.8 Commodities

+/-

%

WTI Oil

39 -0.4

-0.9

CPO Mal ay

2,679

25.0

0.9

Coal Newc

52 -0.1

-0.2

Nickel

8,634

-235.5

-2.7

Tin

16,995

-80.0

-0.5

Last

Close

Changes

www.samuel.co.id

Last

Close

Changes

Last

Close

Changes

Last

Close

Changes

Lagging Movers

Market Activity

Monday, 21 Mar 2016

Market Index

Index Movement

Market Volume

Market Value

Last

Close

Changes

Leading Movers

RISET

SAHAM

HARIAN

Senin, 21 Maret 2016

Sejumlah sentimen berpotensi mewarnai IHSG

Bursa AS secara umum ditutup menguat pada perdagangan

terakhirnya seiring ekspektasi bahwa the Fed tidak akan

segera menaikkan suku bunga lagi dan kebijakan moneter

longgar sejumlah bank sentral yang dinilai akan terus

dijalankan. Sementara itu, harga minyak dunia, baik WTI

maupun

Brent

sedikit

terkoreksi

setelah

penguatan

sebelumnya.

Investor

masih

mencermati

kemungkinan

rencana pengurangan produksi di sejumlah negara.

Rupiah agak melemah pada perdagangan terakhirnya seiring

penguatan USD index, sementara EIDO ditutup pada zona

negatif. IHSG hari ini berpeluang untuk cenderung sideways

seiring bursa regional yang pagi ini cenderung flat. Sejumlah

faktor dalam negeri yang tengah dinantikan investor hingga

akhir bulan ini antara lain laporan keuangan FY15 emiten dan

pengumuman dividen. Terkait regulasi, kepastian tax amnesty

dan rencana OJK menurunkan suku bunga kredit juga menjadi

hal penting yang dapat mempengaruhi bursa saham.

Highlights



INTP

: Analyst meeting notes



BIRD

: Jajaki lepas saham Iron Bird



MTLA

: Metropolitan Land melemah di pasar properti



TINS

: Akan menggenjot lini non timah



Perbankan

: Pemerintah menambah KUR ritel

SAMUEL

(2)

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 guaranteed. All rights reserved

by PT Samuel Sekuritas Indonesia.

₂

INTP: Analyst meeting notes



Manajemen PT Indocement Tunggal Prakarsa Tbk (INTP) memperkirakan

konsumsi semen domestik di 2016 akan tumbuh sekitar 3%-5%, relatif konservatif

jika dibandingkan dengan ekspektasi SSI yang mencapai 7%. Porsi penjualan bulk

cement diperkirakan akan meningkat seiring eksekusi proyek infrastruktur

pemerintah.



Perseroan melihat kemungkinan terjadinya tekanan harga jual di pasar seiring

meningkatnya kompetisi, khususnya di triwulan dengan demand rendah seperti di

kuartal II, meski kemudian membaik di kuartal berikutnya.



Strategi utama di 2016 adalah efisiensi dengan cara mengoperasikan kiln yang

paling efisien. Kiln tertua perseroan (P1&P2) akan dihentikan operasinya dalam 7-8

bulan setahun, terutama setelah pabrik baru (P14) berkapasitas 4.4 juta ton mulai

beroperasi di 3Q16.



Perseroan juga akan mengutamakan supply ke pasar terdekat dengan fasilitas

pabrik untuk menghemat biaya logistik. Perseroan memperkirakan capex di 2016

hanya sekitar Rp3 triliun untuk menyelesaikan P14. (Company presentation) INTP:

Buy; ‘16E PE 14.1x & EV/EBITDA 9.1x.

BIRD: Jajaki lepas saham Iron Bird



Blue Bird Group Holding, induk usaha PT Blue Bird Tbk (BIRD), tengah menjajaki

penjualan saham entitas usaha yang bergerak di bisnis logistik, PT Iron Bird,

kepada asing. Target dana dari aksi private placement tersebut diperkirakan 200

juta dolar AS. Kepastian nilai transaksi dan porsi saham yang dilepas masih dikaji.

Menurut keterangan dari Presiden Komisaris Blue Bird Group, Bayu Priawan

Dijokosoetono, pengembangan bisnis logistik merupakan antisipasi dari penurunan

pertumbuhan bisnis taksi. (Investor Daily) BIRD: Non-

coverage, 16E’PE: 17.9x,

PBV: 3.8x.

MTLA: Metropolitan Land melemah di pasar properti menengah atas



PT Metropolitan Land Tbk (MTLA), mengalami penurunan pada sektor properti

menengah atas atau bernilai di atas Rp1 miliar, sedangkan pada segmen properti

menengah ke bawah masih sesuai dengan budget meskipun tidak bisa dibilang

tumbuh.



Perusahaan berharap dengan adanya berbagai paket kebijakan pemerintah yang

akan menyentuh pasar properti, kinerja pertumbuhan industri dan perusahaan akan

bertumbuh lebih baik tahun ini.



Sikap optismistis itu juga didasari pada dimulainya pembangunan infrastruktur oleh

pemerintah. Kendati penyelesain pembangunan infrastruktur baru akan selesai

pada 2018-2019, sehingga potensi dampak yang akan ditimbulkan baru akan

terasa tahun depan. (Bisnis Indonesia) MTLA: Non-

Coverage, 16E’ PE: N/Ax,

(3)

₃

_{TINS: Akan menggenjot lini non timah}



PT Timah (Persero) Tbk. mengincar kontribusi pendapatan dari kegiatan usaha non

timah sebesar 40% dalam jangka waktu 6-7 tahun di tengah lesunya harga

komoditas yang memukul kinerja perseroan. Kegiatan usaha non timah yang

dimaksud antara lain perumahan, kawasan industri, hotel dan sebagainya. Sejauh

ini, kontribusi pendapatan non timah baru mencapai 5%. (Bisnis Indonesia) TINS:

HOLD, 16E’PE: 17.1x, PBV: 0.9x.

Perbankan: Pemerintah menambah KUR ritel



Pemerintah berencana menambah KUR ritel sebesar Rp 7 triliun seiring besarnya

permintaan terhadap kredit tersebut. Saat ini, penyaluran KUR ritel oleh BBRI saja

sudah mencapai 105% dari target.



Sebagai bank non BUMN, BBCA juga mendapat jatah KUR yakni Rp 500 miliar

berupa KUR mikro dan Rp 1,5 triliun berupa KUR ritel. Sebelumnya BBCA

menyatakan akan menyalurkan KUR melalui kerja sama dengan BPD atau institusi

lainnya untuk channeling kredit tersebut. (Kontan) Perbankan: Overweight.

(4)

₄

Ticker Rec. JCI Wgt Last price 1D Chg 1M Chg YTD Chg TP Cons TP SSI Upside

(%) (Rp) (%) (%) (%) (Rp) (Rp) (%) 16E 17E 16E 17E 16E 17E 16E 17E

Banks

BMRI BUY 4.5 10,100 - 8.6 9.2 10,381 10,200 1.0 10.5 8.8 1.8 1.5 16.8% 17.4% n/a n/a BBCA BUY 6.5 13,700 (0.2) 5.0 3.0 14,351 15,300 11.7 17.4 15.0 3.1 2.7 18.1% 17.9% n/a n/a BBRI BUY 5.3 11,125 1.1 (2.8) (2.6) 12,424 13,000 16.9 10.4 8.9 2.1 1.8 19.7% 19.7% n/a n/a BBNI BUY 1.9 5,375 2.3 5.4 7.7 5,933 5,900 9.8 8.2 7.0 1.3 1.2 16.3% 16.4% n/a n/a

Consumer (Staples)

ICBP BUY 1.8 INDF BUY KLBF BUY ROTI BUY ULTJ BUY UNVR HOLD 6.6 Cigarette HMSP HOLD GGRM BUY 2.3 Healthcare MIKA BUY SILO HOLD Retail MAPI BUY RALS HOLD ACES HOLD Telco EXCL BUY ISAT HOLD TLKM HOLD Auto and HE ASII HOLD UNTR HOLD 1.1 Aviation GIAA HOLD Property BSDE BUY PWON HOLD KPIG BUY ASRI HOLD SMRA BUY Construction PTPP HOLD ADHI HOLD WSKT BUY WIKA BUY Cement INTP HOLD 1.5 SMGR BUY 1.2 SMCB HOLD Utility PGAS BUY JSMR BUY 15,775 1.0 4.5 17.1 16,817 15,600 (1.1) 26.8 23.4 5.3 4.7 19.7% 20.1% 18.4 15.6 1.2 6,875 (4.5) 2.2 32.9 7,654 7,400 7.6 16.3 13.6 2.1 1.9 12.9% 14.2% 8.6 7.7 1.2 1,290 (1.5) 2.0 (2.3) 1,457 1,610 24.8 28.0 23.5 5.2 4.5 18.5% 19.4% 18.4 15.4 0.1 1,250 (1.6) (10.7) (1.2) 1,464 1,500 20.0 25.0 17.9 4.5 3.7 17.9% 20.8% 11.2 10.0 0.2 3,725 0.9 1.2 (5.6) n/a 4,800 28.9 17.2 14.4 3.9 3.2 22.5% 22.4% 10.6 9.0 44,450 1.3 4.0 20.1 39,446 39,000 (12.3) 52.4 47.8 63.6 57.0 121.5% 119.1% 37.1 33.9 9.2 101,800 (2.4) (3.5) 8.3 108,768 109,750 7.8 40.0 35.8 13.4 10.0 33.6% 27.9% 27.1 24.8 61,000 (2.4) (4.9) 10.9 68,526 59,500 (2.5) 19.5 17.2 2.9 2.7 14.9% 15.5% 13.1 12.4 0.7 2,600 3.0 26.5 8.3 2,691 2,950 13.5 60.5 54.2 10.4 9.6 17.2% 17.6% 30.6 27.5 0.2 7,775 (1.3) (8.5) (20.7) 10,710 8,600 10.6 111.1 85.4 5.0 4.8 4.5% 5.6% 13.4 10.8 0.2 4,900 3.4 17.4 29.1 4,777 4,200 (14.3) 39.2 20.1 2.5 2.2 6.3% 11.0% 8.4 6.7 0.1 745 (4.5) 7.2 15.5 763 625 (16.1) 15.9 12.6 1.5 1.4 9.2% 10.8% 10.6 9.4 0.3 815 (4.7) (10.4) (1.2) 847 815 - 22.6 17.7 4.5 3.7 19.8% 20.8% 15.6 13.8 0.7 4,070 0.2 4.4 11.5 4,580 4,500 10.6 46.3 26.4 2.3 2.2 5.1% 8.5% 6.3 5.5 0.6 5,975 (2.4) 15.5 8.6 6,133 5,550 (7.1) 27.8 19.3 2.1 2.0 7.6% 10.4% 4.0 3.5 6.7 3,460 0.1 8.3 11.4 3,613 3,500 1.2 20.8 18.5 4.3 3.8 20.5% 20.5% 6.8 6.2 5.8 7,450 1.7 8.0 24.2 7,115 6,800 (8.7) 16.3 14.6 2.9 2.6 17.6% 17.8% 14.0 13.5 15,675 1.5 (1.6) (7.5) 15,632 16,700 6.5 11.2 10.6 1.4 1.3 12.7% 12.5% 3.6 3.1 0.2 438 0.7 3.5 41.7 497 490 11.9 9.2 8.9 0.6 0.6 6.8% 6.8% 3.9 3.9 0.7 1,900 1.3 9.8 5.6 2,163 1,950 2.6 14.8 12.1 1.6 1.4 11.1% 11.8% 10.9 9.6 0.5 540 1.9 16.1 8.9 549 465 (13.9) 12.6 11.3 2.9 2.4 23.0% 21.3% 7.7 6.7 0.2 1,300 2.4 - (7.8) n/a 1,810 39.2 30.2 25.5 1.1 1.0 3.5% 4.1% n/a n/a 0.1 387 (0.5) 9.3 12.8 424 350 (9.6) 11.7 9.7 1.1 1.0 9.1% 10.1% 6.0 5.2 0.5 1,700 0.9 8.6 3.0 1,734 1,750 2.9 15.9 13.9 3.0 2.6 19.1% 19.0% 11.3 10.1 0.4 3,880 (0.9) 1.4 0.1 4,670 4,000 3.1 23.1 19.0 5.3 4.4 23.1% 23.2% 10.0 8.8 0.2 2,795 0.7 7.9 30.6 3,178 2,700 (3.4) 26.1 21.7 2.0 1.9 7.6% 8.6% 8.2 7.2 0.5 2,005 2.0 4.2 20.1 2,298 2,200 9.7 32.9 25.7 2.8 2.6 8.6% 10.0% 17.2 14.8 0.3 2,675 (1.1) (0.4) 1.3 3,152 3,300 23.4 21.9 18.3 3.4 3.0 15.4% 16.4% 9.8 8.4 20,675 (0.1) 6.8 (7.4) 20,130 22,500 8.8 15.4 13.1 2.9 2.6 18.6% 19.5% 10.1 8.5 10,500 (0.7) 3.2 (7.9) 11,655 13,700 30.5 10.0 8.7 2.0 1.8 20.2% 21.2% 6.4 5.3 0.2 1,120 1.8 17.9 12.6 1,009 1,070 (4.5) 80.0 38.6 1.1 1.1 1.4% 2.9% 11.2 9.1 1.2 2,605 (2.4) 0.8 (5.1) 3,261 3,400 30.5 11.2 10.6 1.6 1.5 14.7% 14.5% 7.5 6.6 0.7 5,550 (0.9) 2.8 6.2 6,409 6,500 17.1 23.1 21.8 3.2 3.0 13.9% 13.7% 12.0 11.5

Coal and Metal

ANTM HOLD 0.2 474 2.8 28.5 51.0 351 375 (20.9) (26.3) 43.1 0.8 0.8 -3.2% 1.9% 23.5 18.5 INCO BUY 0.3 1,790 (7.7) 18.9 9.5 1,641 2,400 34.1 65.6 16.4 0.7 0.7 1.1% 4.2% 102.3 68.8 TINS HOLD 0.1 795 1.9 40.7 57.4 537 650 (18.2) 19.4 15.9 1.0 0.9 5.1% 6.0% 5.9 5.1 ITMG BUY 0.1 6,700 (3.6) 27.6 17.0 5,884 9,000 34.3 6.1 4.9 0.6 0.6 10.3% 12.8% 1.6 1.3 ADRO HOLD 0.4 680 (8.7) 16.2 32.0 660 700 2.9 12.2 9.4 0.5 0.4 3.8% 4.8% 10.1 7.7 PTBA BUY 0.3 6,575 (6.1) 40.8 45.3 6,389 7,800 18.6 9.2 7.3 1.4 1.3 15.6% 17.7% 6.9 5.2 Plantation AALI BUY 0.5 17,825 0.1 0.4 12.5 19,281 20,000 12.2 21.4 18.4 2.2 2.1 10.4% 11.1% 12.9 11.7 LSIP BUY 0.2 1,700 (3.4) 16.8 28.8 1,691 1,800 5.9 13.5 11.3 1.4 1.3 10.6% 11.7% 7.0 5.8 SIMP BUY 0.1 403 (2.2) (0.2) 21.4 501 550 36.5 11.9 10.1 0.4 0.4 3.6% 4.1% 5.5 5.1 Poultry

CPIN BUY 1.1 3,600 1.6 4.5 38.5 3,480 4,000 11.1 22.6 18.5 4.2 3.6 18.4% 19.4% n/a n/a JPFA BUY 0.2 805 0.6 4.5 26.8 949 1,000 24.2 11.3 8.5 1.3 1.2 11.5% 14.2% n/a n/a MAIN BUY 0.1 1,335 2.3 - (12.5) 1,458 1,420 6.4 11.8 6.8 1.5 1.3 12.8% 18.7% n/a n/a

Other Sectors

AKRA HOLD 0.6 7,400 (1.7) (3.9) 3.1 7,693 8,400 13.5 25.0 23.6 4.2 3.8 16.8% 15.9% 17.0 13.7 Source: SSI Research, Bloomberg

Note: GIAA, PGAS, ITMG, ADRO, INCO report in USD.

EV/EBITDA (x)

(5)

₅

Regional Indices

1D Change

Points

1D

3D

1W

1M

3M

YTD

1YR

High

Low

World

2.57 1,645.57

0.16

1.49

1.11

6.98

0.41 (1.04)

(7.27)

1,813.90

1,459.79

U.S. (S&P)

8.99 2,049.58

0.44

1.67

1.35

6.87

1.41

0.28 (2.78)

2,134.72

1,810.10

U.S. (DOW)

120.81 17,602.30

0.69

2.03

2.26

7.38

2.03

1.02 (2.90)

18,351.36

15,370.33

Europe

16.67 3,059.77

0.55 (0.24)

(0.46)

6.57 (4.77)

(6.36)

(17.88)

3,836.28

2,672.73

Emerging Market

9.85

826.75

1.21

4.50

2.90

11.58

4.46

4.11 (14.73)

1,069.13

686.74 FTSE 100

(11.48)

6,189.64

(0.19)

0.81

4.02

2.57 (0.84)

n/a

7,122.74

5,499.51

CAC 40

19.62 4,462.51

0.44 (0.23)

(0.67)

5.67 (2.25)

(3.76)

(12.28)

5,283.71

3,892.46

Dax

58.60 9,950.80

0.59

0.17

1.22

5.99 (5.21)

(7.37)

(17.35)

12,390.75

8,699.29

Indonesia

0.02 4,885.71

0.00

0.74

1.49

4.01

8.80

6.37 (10.24)

5,524.04

4,033.59

Japan

(211.57)

16,724.81

(1.25)

(2.29)

(1.26)

4.74 (11.58)

(12.13)

(14.50)

20,952.71

14,865.77

Australia

(11.52)

5,171.60

(0.22)

1.03 (0.27)

4.42

1.22 (2.35)

(13.45)

5,996.40

4,706.70

Korea

6.89 1,999.01

0.35

1.22

1.36

4.32

0.90

1.92 (1.88)

2,189.54

1,800.75

Singapore

26.63 2,906.80

0.92

2.37

2.76

9.41

2.15

0.83 (14.82)

3,549.85

2,528.44

Malaysia

13.15 1,716.34

0.77

1.50

1.17

2.48

5.36

1.41 (4.84)

1,867.53

1,503.68

Hong Kong

167.82 20,671.63

0.82

1.89

2.34

7.19 (5.14)

(5.67)

(15.19)

28,588.52

18,278.80

China

50.32 2,955.15

1.73

3.17

5.15

3.33 (18.87)

(16.50)

(18.31)

5,178.19

2,638.30

Taiwan

76.17 8,810.71

0.87

2.32

1.20

5.83

6.38

5.67 (9.63)

10,014.28

7,203.07

Thailand

2.76 1,382.96

0.20

0.00 (0.75)

4.75

9.37

7.37 (9.61)

1,575.39

1,220.96

Philipines

95.84 7,306.74

1.33

2.22

2.93

7.58

5.74

5.10 (6.54)

8,136.97

6,084.28

Monetary Indicators

1D Change

Points

1W

1M

3M

YTD

1YR

High

Low

JIBOR Overnight (%)

(0.23)

4.91 (4.44)

(19.60)

(22.33)

(35.36)

(13.06)

8.26

4.91 Foreign Reserve (US$bn)

n/a

104.54 n/a

2.36

4.29 (1.31)

(9.51)

111.55

100.24 Inflation Rate (%)

n/a

(0.09)

n/a

(117.65) (142.86) (109.38)

75.00

0.96 (0.09)

US Fed Rate (%)

0.00

0.50

0.00

100.00

0.50

0.25 Indo Govt Bond Yld (10yr) - %

0.03

7.66 (1.50)

(4.73)

(11.89)

(12.37)

2.41

9.90

7.23 Exchange Rate (per US$)

1D Change

Currency

Points

1D

3D

1W

1M

3M

YTD

1YR

High

Low

Indonesia

25.00 13,120.00

(0.19)

0.44 (0.37)

2.92

5.09

0.35 14,736.00

12,805.00

Japan

(0.14)

111.41

0.13

1.03

2.16

1.36

7.91

7.47

125.86

110.67 UK

(0.00)

1.45 (0.12)

1.40

1.10

2.18 (1.88)

(1.88)

(3.30)

1.59

1.38 Euro

0.00

1.13

0.08

0.49

1.59

2.26

3.84

3.04

1.17

1.05 China

(0.01)

6.47

0.09

0.66

0.35

0.72

0.34

0.34 (3.74)

6.60

6.19 Commodities Indicators

1D Change

Spot

Points

1D

3D

1W

1M

3M

YTD

1YR

High

Low

Oil

(0.08)

41.12 (0.19)

1.96

4.02

24.57

13.12

10.30 (25.67)

69.63

27.10 CPO

25.00 2,679.00

0.94

2.60

2.72

3.04

11.53

7.81

22.16 2,694.00

1,863.00

Rubber

21.50

623.00

3.57

7.51

9.39

16.45

5.06

15.48 (3.86)

719.00

506.50 Coal

(0.10)

52.20 (0.19)

1.06

1.36

2.55

0.00

3.16 (19.26)

64.65

48.80 Iron Ore

(0.30)

53.60 (0.56)

(7.11)

(6.29)

22.65

42.93

23.50 (11.26)

132.60

37.50 Manganese

n/a

Tin

(80.00)

16,995.00

(0.47)

0.53

1.15

8.28

14.79

16.48

0.97 17,525.00

13,223.80

Nickel

(235.00)

8,660.00

(2.64)

1.23 (1.93)

3.71 (1.20)

(1.81)

(35.88)

14,585.00

7,550.00

Copper

(27.50)

5,042.00

(0.54)

1.88

1.45

10.20

7.62

7.16 (11.08)

6,481.00

4,318.00

Gold

1.00 1,255.30

0.08

2.07

0.82

2.02

16.03

18.40

5.97 1,287.80

1,046.20

Source: SSI Research, Bloomberg

Last Price

Change (%)

1 Year

Change (%)

1 Year

Last Price

Change (%)

1 Year

Change (%)

1 Year

(6)

₆

Research Team

Andy Ferdinand, CFA

Head Of Equity Research

Strategy, Banking, Consumer

+6221 2854 8148

andy.ferdinand@samuel.co.id

M. Makky Dandytra, CSA, CFTe

Technical Analyst

Indices, Equities, Commodities,

Currencies, Fixed Income

+6221 2854 8382

makky.dandytra@samuel.co.id

Rangga Cipta

Economist

+6221 2854 8396

rangga.cipta@samuel.co.id

Akhmad Nurcahyadi, CSA

Analyst

Auto, Heavy Equipment, Property,

Cigarette, Media, Aviation, Healthcare

+6221 2854 8144

akhmad.nurcahyadi@samuel.co.id

Adrianus Bias Prasuryo

Analyst

Cement, Infrastructure,Telecommunication

+6221 2854 8392

adrianus.bias@samuel.co.id

Marlene Tanumihardja

Analyst

Retail, Poultry, Consumer, Small Cap

+6221 2854 8387

marlene@samuel.co.id

Yudi Ilhamsyah

Analyst

Property, Construction

+6221 2854 8881

yudi.ilhamsyah@samuel.co.id

Adde Chandra Kurniawan

Research Associate

+6221 2854 8338

Adde.kurniawan@samuel.co.id

Equity Sales Team

Kelvin Long

Director of Equities

+6221 2854 8150

kelvin.long@samuel.co.id

Evelyn Satyono

Head of Institutional Equity Sales

+6221 2854 8148

evelyn.satyono@samuel.co.id

Lucia Irawati

Head of Retail Equity Sales

+6221 2854 8173

lucia.irawati@samuel.co.id

Yulianah

Senior Institutional Sales

+6221 2854 8146

yulianah@samuel.co.id

Ronny Ardianto

Institutional Equity Sales

+6221 2854 8399

ronny.ardianto@samuel.co.id

Ferry Khusaeri

Equity Sales

+6221 2854 8304

ferry.khusaeri@samuel.co.id

Indra S. Affandi

Senior Institutional Sales

+6221 2854 8334

indra.siswandi@samuel.co.id

Muhammad Isfandi

Institutional Equity Sales

+6221 2854 8329

muhammad.isfandi@samuel.co.id

Peter Hamsja

Equity Sales

+6221 2854 8325

peter@samuel.co.id

Jovita Widjaja

Equity Sales

+6221 2854 8314

jovita.widjaja@samuel.co.id

Clarice Wijana

Institutional Equity Sales

+6221 2854 8395

clarice.wijana@samuel.co.id

Iwan Setiadi

Equity Sales

+6221 2854 8313

iwan.setiadi@samuel.co.id

James Wihardja

Equity Sales

+6221 2854 8397

james.wihardja@samuel.co.id

Online Trading Sales Team

Nugroho Nuswantoro

Head Of Marketing OLT

+6221 2854 8372

nugroho@samuel.co.id

Rina Lestari

SPV Customer Service

+6221 2854 8180

rina.lestari@samuel.co.id