Previous Day:
Pada penutupan perdagangan hari Rabu (12/3), IHSG turun sebanyak 19,83 poin (-0,42%) ke level 4684,38. Ada sebanyak 97 saham yang naik, 205 saham yang mengalami koreksi, dan 78 saham yang stagnan. Total perdagangan hari ini sebanyak Rp 6,047 triliun. LQ45 turun 4,05 poin (-0,51%) ke level 784,91. Sektor-sektor di zona hijau adalah sektor manufaktur naik 2,06%, sektor konstruksi naik 0,76%, dan sektor con-sumer goods naik 0,60%. Sektor-sektor di zona merah adalah sektor agrikultur turun 1,60%, sektor pertambangan turun 1,51%, dan sektor industri dasar turun 1,25%. Foreign net sell sebesar Rp 131,37 miliar. Indeks Nikkei turun 2,59%. Indeks Straits Times terjerembab 0,92%. Indeks Hang Seng terpang-kas 1,65%. Indeks Shanghai merosot 0,17%.
Today’s Market:
Secara teknikal indeks hari Kamis (13/3), prediksi indeks diperkirakan akan bergerak mixed di level 4668-4714. Dirilis-nya data BI Rate periode Maret oleh Bank Indonesia, yang diperkirakan stabil di level 7.5%. Dari luar negeri, kelanjutan pertentangan antara pihak Ukraina dan Russia masih akan memberikan sentiment kepada pasar. Ditambah lagi, data in-flasi India yang naik ke level 8.1% yoy (estimasi 8,35% yoy) ikut memberikan sentiment tambahan.
Top Technical Buys: JPFA, PGAS, BBNI, BEST
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) (131.37)
Foreign Net Buy (Sell) YTD (Rp tn) 10.36
as percentage of last year's (0.56)
Total Market Capitalization (Rp tn) 4,337.47
Closing 1 Day Return % YTD Change % 4,684.39 (0.42) 9.6 784.91 (0.51) 10.4 26.60 0.68 16.5 23.99 0.42 12.8 16,340.08 (0.07) (1.4) 1,868.20 0.03 1.1 4,323.33 0.37 3.5 6,620.90 (0.97) (1.9) 14,830.39 (2.59) (8.7) 22,269.61 (1.65) (6.0) 3,129.40 (0.92) (2.2) 1,818.60 (0.54) (2.6) FOREX Change YTD Change % USD/IDR 27.50 6.5 EUR/IDR 39.59 5.8 JPY/IDR 0.79 4.2 SGD/IDR 4.57 6.8 AUD/IDR (69.44) 6.1 GBP/IDR 27.04 6.0 Price 1 Day Return % YTD Change % CRUDE OIL (USD)/BARREL 98.04 0.05 (0.4) COAL (USD) / MT 75.30 0.94 (7.8) NATURAL GAS (USD) / mmBtu 4.48 (0.31) 5.8 GOLD (USD) / OUNCE 1,365.93 (0.07) 13.3 NICKEL (USD) / MT 15,650.00 0.64 12.6 TIN (USD) / MT 22,950.00 0.35 2.7 CPO (MYR) / MT 2,859.00 (1.82) 8.8 RUBBER (JPY)/KG 248.10 0.65 (11.3) WHEAT/BUSHEL 6.88 3.73 13.7 CORN/BUSHEL 4.84 (0.10) 14.6 4,684.39 6.047 5,777 IDX Statistics Commodities JCI LQ45 EIDO IDX 9,006.29 10,235.13 18,978.17 Key Indices STRAITS TIMES KLSE Rate (IDR) 11,427.50 15,837.07 111.14 HANG SENG DOW JONES S&P 500 NASDAQ FTSE NIKKEI
See important disclaimer at the end of this report
Thursday, March 13, 2014 4,660 4,680 4,700 4,720
JCI Index
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CORPORATE NEWS
PT Adhi Karya (Persero) Tbk (ADHI) akan menambah 2 kegiatan usaha guna menggenjot pendapatan berulang (recurring income). Dua kegiatan usaha ini mencakup penyelenggaraan sarana dan prasarana perkeretaapian serta penyelenggaraan kepariwisataan. (Positive) Source: Bisnis Indonesia
PT Kimia Farma Tbk (KAEF) menambah pabrik dan apotek. Perusahaan menyediakan belanja modal Rp 930 miliar untuk membiayai 5 proyek tahun ini. Kelima proyek ini yaitu membangun pabrik baru di Ban-jarmasin, bandung, Jawa Barat, akuisisi PT Asuransi Jiwa InHealth Indonesia, membangun fasilitas pabrik bahan baku yang memiliki criteria khusus di bidang farmasi di Surabaya, Jawa Timur, dan membangun kantor dan gudang baru untuk anak usahanya, PT Kimia Farma Trading dan Distribution (KFTD) serta membangun klinik dan apotek baru. (Positive) Source: Kontan
PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) melepas seluruh investasi di perusahaan mana-jer investasi yang berlokasi di Barbados, yaitu Universal Ventrues Fund, SCC. Total dana investasi mencapai US$ 4,99 juta atau setara dengan Rp 61,81 miliar. Hal ini dilakukan agar dana yang nganggur menghasilkan imbal hasil di atas tingkat bunga deposito. (Positive) Source: Kontan
Anak usaha PT Kalbe Farma Tbk (KLBF) membangun pabrik baru. Tahun ini perusahaan menargetkan pendapatan Rp 18,4 triliun. Perusahaan akan mendirikan pabrik baru yang memproduksi obat bebas (over the counter/OTC). Perusahaan juga menganggarkan Rp 100 miliar– Rp 150 miliar untuk pabrik obat OTC.. Pabrik ini memproduksi obat merek Mixagrip, Fatigon, dan kapsul lunak untuk suplemen otak. Dengan tambahan pabrik baru maka kapasitas produksi dapat meningkat hingga 50%. (Positive) Source: Kontan
PT Timah Tbk (TINS) menguasai asset milik PT Koba Tin. Mulai pekan depan perusahaan akan mem-bayar aksi korporasi tersebut tahap awal senilai Rp 25 miliar. Selain itu perusahaan juga ingin mengambil alih konsesi tambang di Asia. (Positive) Source: Kontan
PT Express Transindo Utama Tbk (TAXI) membukukan kenaikan laba bersih 67% yoy menjadi Rp 132,6 miliar dibandingkan sebelumnya Rp 79,3 miliar . Hal ini didukung oleh kenaikan pendapatan 31% men-jadi Rp 686, 9 miliar dari Rp 520, 8 miliar. (Positive) Source: Investor DailySee important disclaimer at the end of this report
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Eddy Wijaya/ Technical Analyst/62 21 3925550
TRADING VIEW
See important disclaimer at the end of this report
Thursday, March 13, 2014
By: Rheza, Tiesha, RichardRESEARCH DEPARTMENT By: Eddy Wijaya (+6221-3925550)
TICKER RECOMMENDATION PRICE ENTRY EXIT S2 S1 R1 R2 EXPLANATION AGRICULTURE
AALI Buy on Weakness 27450 27350 27700 27100 27350 27700 27950 Rsi : downtrend BWPT Trading Sell 1355 1355 1340 1330 1340 1370 1390 Stoc osc : downtrend LSIP Trading Sell 2200 2200 2150 2100 2150 2300 2375 Stoc osc : downtrend
BANK & FINANCE
BMRI Buy on Weakness 9225 9150 9325 9075 9150 9325 9425 Long legged doji BBRI Buy on Weakness 9150 9100 9200 9050 9100 9200 9300 Macd : downtrend BBNI Trading Buy 4850 4850 4900 4675 4750 4900 4950 White spinning top BBCA Trading Sell 10350 10350 10250 10150 10250 10450 10650 Black spinning top
CONSUMER GOODS
INDF Trading Buy 7550 7550 7650 7200 7400 7650 7800 Rsi : uptrend ICBP Trading Buy 11000 11000 11100 10750 10900 11100 11250 Rsi : neutral GGRM Trading Sell 47025 47025 46800 46550 46800 47150 47300 Macd : downtrend UNVR Trading Buy 29000 29000 29275 28375 28825 29275 29450 Morning star CPIN Trading Sell 4190 4190 4175 4150 4175 4210 4225 Stoc osc : downtrend MAIN Trading Sell 3640 3640 3625 3590 3625 3650 3700 Rsi : downtrend
BASIC & MISC INDUSTRY
ASII Buy on Weakness 7200 7150 7250 7100 7150 7250 7350 Long legged doji SMGR Trading Sell 15125 15125 15050 14900 15050 15250 15350 Stoc osc : downtrend INTP Trading Sell 22200 22200 22050 21900 22050 22325 22475 Stoc osc : downtrend
INFRASTRUCTURE
TLKM Buy on Weakness 2165 2140 2180 2115 2140 2180 2210 White spinning top PGAS Trading Buy 4985 4985 5050 4880 4950 5050 5125 White spinning top JSMR Buy on Weakness 5500 5425 5550 5375 5425 5550 5625 Black spinning top TBIG Trading Sell 6075 6075 6025 5950 6025 6125 6200 Rsi : downtrend
RETAIL
MAPI Trading Buy 6975 6975 7050 6800 6880 7050 7100 Stoc osc :uptrend RALS Trading Sell 1390 1390 1365 1340 1365 1410 1430 Macd : downtrend ACES Trading Sell 785 785 775 765 775 795 815 Stoc osc : downtrend MPPA Trading Buy 2255 2255 2270 2230 2245 2270 2290 Stoc osc: overbought
MINING
PTBA Trading Sell 9275 9275 9200 9125 9200 9350 9425 Stoc osc : downtrend ADRO Trading Sell 945 945 930 920 930 955 970 Macd : downtrend ITMG Trading Sell 24600 24600 24400 24200 24400 24800 25000 Macd : downtrend ANTM Trading Sell 1095 1095 1080 1070 1080 1110 1130 Rsi : downtrend TINS Trading Sell 1755 1755 1730 1710 1730 1770 1790 Stoc osc : downtrend UNTR Buy on Weakness 19500 19400 19600 19300 19400 19600 19800 Stoc osc : reversal
PROPERTY
ASRI Buy on Weakness 615 605 630 595 605 630 645 Long legged doji LPKR Buy on weakness 1085 1070 1110 1050 1070 1110 1130 White spinning top CTRA Trading Buy 1095 1095 1110 1045 1070 1110 1135 White spinning top APLN Trading Buy 280 280 290 257 273 290 297 White spinning top SMRA Buy on Weakness 1090 1070 1110 1050 1070 1110 1130 Long legged doji SSIA Buy on Weakness 880 860 890 845 860 890 910 White spinning top BSDE Buy on Weakness 1675 1655 1695 1635 1655 1695 1715 White spinning top WIKA Trading Sell 2235 2235 2215 2195 2215 2255 2275 Rsi : downtrend PTPP Buy on Weakness 1645 1635 1660 1610 1635 1660 1680 White spinning top ADHI Buy on Weakness 2700 2670 2715 2650 2670 2715 2740 Rsi : reversal
4
Global Equity Indices
Description YTD Change % 13-Mar-14 Forward 2014 P/E Ratio (Best Est.)
LQ45 10.4 785 Nikkei 225 (8.7) 14,878 JCI 9.6 4,684 FTSE 100 (1.9) 6,621 ASX 200 1.3 5,421 DJIA (1.4) 16,340 S&P500 1.1 1,868 STI (2.2) 3,097 CAC 40 0.2 4,306 Shanghai Composite (5.6) 1,998 DAX (3.8) 9,189 KOSPI (3.7) 1,937 Hang Seng (6.0) 21,902 Euro Stoxx (1.4) 3,065
Description YTD Change % 13-Mar-14 Description YTD Change % 13-Mar-14
AALI 9.4 27,450 ICBP 7.8 11,000 ADRO (13.3) 945 IMAS 6.1 5,200 AKRA 6.9 4,675 INCO (3.4) 2,560 ANTM 0.5 1,095 INDF 14.4 7,550 ASII 6.3 7,225 INDY 1.7 600 ASRI 43.0 615 INTP 11.0 22,200 BBCA 7.8 10,350 ITMG (13.7) 24,600 BBNI 22.8 4,850 JSMR 16.4 5,500 BBRI 26.2 9,150 KLBF 13.2 1,415 BBTN 39.1 1,210 LPKR 19.2 1,085 BDMN 9.7 4,140 LSIP 14.0 2,200 BHIT (0.3) 339 MAIN 14.6 3,640 BKSL 17.2 184 MAPI 26.8 6,975 BMRI 17.5 9,225 MNCN 5.3 2,765 BMTR 26.1 2,395 PGAS 11.4 4,985 BSDE 29.8 1,675 PTBA (9.1) 9,275 BUMI 1.0 303 SMCB 13.8 2,590 BWPT 1.9 1,355 SMGR 6.9 15,125 CPIN 24.1 4,190 SSIA 57.1 880 EXCL (15.4) 4,400 TLKM 0.7 2,165 GGRM 12.0 47,025 UNTR 2.6 19,500 GIAA (3.0) 485 UNVR 11.5 29,000 HRUM (17.5) 2,270 JAKPROP INDEXJAKBIND INDEX
Sectors JAKFIN INDEX
Description JAKCONS INDEX
Property 11.9 JAKMIND INDEX
Basic Industry 2.9 JAKINFR INDEX
Trade 4.6 JAKAGRI INDEX
Finance 3.3 JAKMINE INDEX
Miscellaneous Industry 3.5 Consumer 8.4 Infrastructure 0.0 Agriculture 12.8 Mining (0.7) 1-mth Return % Selected Indonesian Equities
14.4 19.3 14.6 13.2 15.1 14.7 15.9 13.8 13.5 7.8 12.9 8.4 9.9 13.1
See important disclaimer at the end of this report
5
Dividen
Stock Split
Upcoming IPO
See important disclaimer at the end of this report
Ticker OS:NS Ticker OS:NS
MAPI 1:10
Company Business Offering
Date Share in Rp. Price Listing Date
PT Bali Towerindo Sentra Infrastruktur
PT Bank Ina Perdana Perbankan 240
PT Bank Muamalat indonesia Perbankan 550-975
PT Bank Panin Syariah Perbankan 100
PT Eka Sari Lorena Transport Transportasi
PT Indosmelt Transportasi
PT Intermedia Capital Media
PT Puradelta Lestari Properti 205-255
PT Wika Beton Konstruksi 470-630
Ticker Status DPS (Rp) Cum Date Ex Date Recording Payment
Ticker NS:OS Price (Rp) Cum Date Ex Date Recording Trading
Right Issue
6
Global Reference Rates FOREX Rate (USD) Change %
FED Rate 0.25 USDIDR 11,428 (0.25)
BI Rate 7.50 USDEUR 0.72 0.00
ECB Rate 0.25 USDJPY 103 (0.03)
BOJ Rate 0.10 USDSGD 1.27 0.02
BOE Rate 0.50 USDAUD 1.10 (0.77)
PBOC Rate 6.00 USDGBP 0.60 0.05
Description February January
Inflation YTD (%) 1.33 1.07 8.30
Inflation YOY (%) 7.75 8.22 0.89
Inflation MOM (%) 0.26 1.07 1.46
Foreign Reserves (USD bn) 10.06 7.79
GDP YOY Growth Rate Q42013 (%) 5.72 8.05
GDP Growth Rate 2013 (%) 5.78 8.54
GDP YOY (USD bn) 878.04
Dual Listed Price (IDR) Change %
TLKM (US) 2,285.60 0.00
ANTM (GR) 937.50 (1.67)
%
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.
