Previous Day:
Pada penutupan perdagangan hari Selasa (3/2), IHSG naik sebanyak 15,48 poin (0,29%) ke level 5291,72. Ada sebanyak 157 saham yang naik, 120 saham yang mengalami koreksi, dan 110 saham yang stagnan. LQ45 naik 5,20 (0,57%) ke level 913,59. Sektor-sektor di zona hijau adalah sektor konstruksi naik 1,95%, sektor keuangan naik 0,92%, dan sektor infra-struktur naik 0,68%. Sektor-sektor di zona merah adalah sek-tor agrikultur turun 2,07%, seksek-tor aneka industri turun 1,28%, dan sektor manufaktur turun 0,37%. Total
perdagan-gan sebanyak Rp 5,754 triliun. Foreign net buy sebesar Rp
335,28 miliar. Indeks Hang Seng menguat 0,29%. Indeks Strait times jatuh 0,33%. Indeks Nikkei berkurang 1,27%. Indeks shanghai menanjak 2,45%.
Today’s Market:
Secara teknikal indeks hari Rabu (4/2) diperkirakan akan ber-gerak menguat di level 5279-5325. China akan merilis data HSBC China Services PMI yang diperkirakan ke level 53,21
dari sebelumnya 53,4. Dari Eropa akan merilis data markit
services PMI yang diperkirakan naik 0,7 ke level 52,3. Harga minyak dunia yang menguat turut memberikan sentimen ter-hadap indeks.
Top Technical Buys:
BSDE, ASRI, SMGR, BJBR
Sinarmas Investment Research/+6221 3925550/[email protected]
DAILY RESEARCH
UNDERVALUED STOCKS 2014: ROTI 1,460
Wednesday, February 04, 2015
Clo s in g J CI Tra ns a c tio n Va lu e (Rp tn ) Tra ns a c tio n Vo lu me (mn s h a re s ) Fo re ign Ne t Bu y (S e ll) (Rp b n) 33 5 .2 8 Fo re ign Ne t Bu y (S e ll) YTD (Rp tn ) 0 .5 8 a s p e rc e n ta g e o f la s t ye a r's (0 .6 6 )To ta l Ma rke t Ca p ita liza tio n (Rp tn ) 4 ,99 5 .4 4
Clo s in g 1 Da y Re tu rn % YTD Ch a n g e % 5 ,29 1.7 0.2 9 1.2 913 .6 0.5 7 1.7 2 7 .5 0 2.0 8 0 .2 2 4 .5 2.0 0 0 .8 17 ,6 6 6 .4 1.7 6 (0 .9 ) 2 ,0 5 0 .0 1.4 4 (0 .4 ) 4 ,7 2 7 .7 1.0 9 (0 .2 ) 6 ,87 1.8 1.3 2 4 .7 17 ,3 3 5 .9 (1.2 7) 1.2 2 4 ,4 8 4 .7 0.2 9 4 .0 3 ,4 0 8 .0 (0.4 5) 1.7 1,817 .0 2.0 0 3 .2 FO REX Ch a n g e % YTD Ch a n g e % US D/IDR (0.2 3) (1.6 ) EUR/IDR (0 .2 1) 4 .3 J P Y/IDR 0.0 6 (3 .1) S GD/IDR (0.2 0) 0 .2 AUD/IDR 0.5 7 3 .2 GBP /IDR (0.4 0) 0 .9 P ric e 1 Da y Re tu rn % YTD Ch a n g e % CRUDE OIL (US D)/BARREL 5 3 .1 7.0 2 (2 .4 ) COAL (US D) / MT 5 7 .4 (2.3 0) (17 .9 ) NATURAL GAS (US D) / mmBtu 2 .8 2.7 6 (4 .3 )
GOLD (US D) / OUNCE 1,2 6 0 .4 (1.10) 6 .1
NICKEL (US D) / MT 15 ,310 .0 (0 .10) 1.7 TIN (US D) / MT 18 ,8 5 5 .0 (0.8 9) (1.9 ) CP O (MYR) / MT 2 ,14 7 .0 NA (6 .0 ) RUBBER (J P Y)/KG 2 0 2 .5 2.5 8 4 .2 WHEAT/BUS HEL 513 .8 4.2 6 (12 .8 ) CORN/BUS HEL 3 8 5 .8 4.3 3 (2 .9 ) Ke y In d ic e s S TRAITS TIMES KLS E Ra te (IDR) 12 ,65 7 HANG S ENG DOW J ONES S &P 50 0 NAS DAQ FTS E NIKKEI Co mmo d itie s J CI LQ4 5 EIDO IDX 9 ,35 3 9 ,89 7 19,0 12 14 ,33 6 10 8 5,2 91.7 2 5 .7 5 4 5 ,5 4 8 IDX S ta tis tic s
5,270 5,280 5,290 5,300 5,310 5,320
JCI Index
2
CORPORATE & INDUSTRY NEWS
•
PT Dian Swastatika Sentosa Tbk (DSSA) mengalokasikan belanja modal tahun ini senilai US$ 200 juta,turun 26% dari tahun 2014. Perusahaan akan menggunakan 70% dari dana tersebut untuk segmen usaha kelistrikan, yaitu pengembangan dan kelanjutan proyek pembangkit listrik yang tengah dikerjakan oleh
anak usahanya, PT DSSP Power Sumsel. Sedangkan sisa dana akan digunakan untuk operational
expendi-ture untuk segmen usaha lain, seperti coal mining, trading, dan infrastruktur multimedia. (Neutral) Source:
Indonesia Finance Today
•
PT Ciputra Development Tbk (CTRA) akan membangun tiga hotel di beberapa lokasi di Indonesia pada tahun ini. Salah satunya yaitu proyek hotel bintang lima di Tabanan, Bali dengan perkiraan kebutuhan in-vestasi mencapai Rp 1 triliun. Selain itu, perusahaan juga tengah menyelesaikan tahap pembangunan duahotel lain yaitu hotel budget di Yogyakarta dan Bintaro (Tangerang). (Neutral) Source: Indonesia Finance
Today
•
PT Wijaya Karya (Persero) Tbk (WIKA) tengah menjajaki kerja sama dengan Islamic Development Bank (IDB) untuk menggarap proyek di Maroko. Perusahaan berencana untuk memperoleh kontrak pengerjaan konstruksi, serta peluang untuk terlibat berinvestasi di dalam proyek dengan nilai perkiraan mencapai Rp 2 triliun. Perusahaan sendiri tengah menargetkan empat proyek di luar negeri dengan total nilai Rp 4tril-iun pada tahun ini. (Neutral) Source: Bisnis Indonesia
•
PT Bank Pembangunan Daerah Jawa Timur Tbk (BJTM) membukukan laba sebelum pajak sebesar Rp 1,38 triliun, meningkat 19,65% yoy. Selama tahun 2014, perusahaan juga mencatatkan kenaikan total aset menjadi Rp 38,04 triliun atau naik 15,11% yoy. Sedangkan penghimpunan dana pihak ketiga (DPK) serta penyaluran kredit juga masing – masing mengalami peningkatan sebesar 16,48% dan 18,61% yoy. (Positive) Source: Investor DailySee important disclaimer at the end of this report
TRADING VIEW
Wednesday, February 04, 2015
TRADING VIEW Wednesday, February 04 , 2015
These recommendations are more based on technical and just for one day trading
RESEARCH DEPARTMENT
TICKER RECOMMENDATION PRICE ENTRY EXIT S2 S1 R1 R2 EXPLANATION
AGRICULTURE
AALI Buy On Weakness 23400 23300 23600 23150 23300 23600 23800 Macd : downtrend BWPT Trading Sell 347 347 343 339 343 354 361 Macd : downtrend LSIP Trading Sell 1785 1785 1775 1765 1775 1800 1825 Rsi : downtrend BANK & FINANCE
BMRI Buy on Weakness 11350 11250 11400 11200 11250 11400 11500 Long legged doji BBRI Buy on Weakness 11750 11650 11800 11575 11650 11800 11900 Doji
BBNI Trading Buy 6425 6425 6500 6200 6350 6500 6650 Macd : uptrend BBCA Buy on Weakness 13500 13300 13550 13200 13300 13550 13700 Morning star CONSUMER GOODS
INDF Buy on Weakness 7450 7350 7600 7250 7350 7600 7750 Macd : downtrend ICBP Buy on Weakness 14300 14150 14500 14050 14150 14500 14650 Black spinning top GGRM Trading Sell 55700 55700 55500 55350 55500 56100 56450 Macd : downtrend UNVR Trading Buy 36375 36375 36550 36150 36325 36550 36725 Stoc osc : uptrend CPIN Trading Sell 3780 3780 3760 3730 3760 3820 3850 Macd : downtrend MAIN Buy on Weakness 2125 2115 2140 2100 2115 2140 2160 Stoc osc : downtrend BASIC & MISC INDUSTRY
ASII Trading Sell 7625 7625 7550 7450 7550 7750 7850 Rsi : downtrend SMGR Trading Buy 14675 14675 14750 14550 14625 14750 14825 Morning star INTP Trading Buy 23150 23150 23350 22850 23100 23350 23450 Rsi : uptrend INFRASTRUCTURE
TLKM Buy on Weakness 2825 2815 2835 2800 2815 2835 2850 Dragonfly doji PGAS Trading Buy 5200 5200 5250 5025 5100 5250 5325 Morning star JSMR Trading Sell 7125 7125 7050 6975 7050 7225 7300 Macd : downtrend TBIG Trading Sell 9400 9400 9300 9225 9300 9500 9650 Stoc osc : downtrend
RETAIL
MAPI Buy on Weakness 5875 5800 5950 5700 5800 5950 6100 White spinning top RALS Buy on Weakness 830 820 845 810 820 845 860 Stoc osc : uptrend ACES Buy on Weakness 750 740 765 720 740 765 775 Black spinning top MPPA Trading Buy 3770 3770 3810 3700 3750 3810 3830 Rsi : reversal MINING
PTBA Buy on Weakness 11425 11350 11500 11250 11350 11500 11600 Rsi : reversal ADRO Buy on Weakness 990 980 1005 965 980 1005 1020 Rsi : downtrend ITMG Buy on Weakness 16650 16550 16900 16350 16550 16900 17125 Rsi : reversal ANTM Buy on Weakness 1055 1045 1065 1035 1045 1065 1080 Macd : downtrend TINS Trading Sell 1150 1150 1140 1125 1140 1165 1180 Stoc osc : downtrend UNTR Buy on Weakness 17900 17750 18000 17600 17750 18000 18125 Rsi : reversal PROPERTY
ASRI Trading Buy 605 605 620 585 595 620 635 White spinning top LPKR Buy on Weakness 1115 1100 1125 1085 1100 1125 1135 Rsi : reversal CTRA Trading Buy 1490 1490 1500 1450 1465 1500 1525 Macd : reversal APLN Trading Buy 460 460 465 442 451 465 474 Rsi : uptrend SMRA Trading Buy 1670 1670 1700 1635 1660 1700 1730 Rsi : uptrend SSIA Buy on Weakness 1095 1080 1110 1060 1080 1110 1130 Rsi : uptrend BSDE Trading Buy 2090 2090 2120 2035 2065 2120 2150 Morning star WIKA Trading Buy 3815 3815 3855 3735 3775 3855 3895 Macd : uptrend PTPP Trading Buy 4120 4120 4150 4040 4100 4150 4210 Macd : uptrend
4
Global Equity Indices
See important disclaimer at the end of this report
Description YTD Change % 4-Feb-15 Forward 2014 P/E Ratio (Best Est.)
LQ45 1.7 914 Nikkei 225 1.2 17,664 JCI 1.2 5,292 FTSE 100 4.7 6,872 ASX 200 6.5 5,764 DJIA (0.9) 17,666 S&P500 (0.4) 2,050 STI 1.8 3,424 CAC 40 9.5 4,678 Shanghai Composite (0.9) 3,205 DAX 11.1 10,891 KOSPI 2.7 1,968 Hang Seng 4.0 24,555 Euro Stoxx 8.5 3,414
Description YTD Change % 4-Feb-15 Description YTD Change % 4-Feb-15
AALI (3.5) 23,400 ICBP 9.2 14,300 ADRO (4.8) 990 IMAS (0.6) 3,975 AKRA 11.3 4,585 INCO (7.2) 3,365 ANTM (0.9) 1,055 INDF 10.4 7,450 ASII 2.7 7,625 INDY (4.3) 488 ASRI 8.0 605 INTP (7.4) 23,150 BBCA 2.9 13,500 ITMG 8.3 16,650 BBNI 5.3 6,425 JSMR 1.1 7,125 BBRI 0.9 11,750 KLBF (0.3) 1,825 BBTN (17.0) 1,000 LPKR 9.3 1,115 BDMN 6.1 4,800 LSIP (5.6) 1,785 BHIT (3.5) 279 MAIN (0.2) 2,125 BKSL 9.6 114 MAPI 15.8 5,875 BMRI 5.3 11,350 MNCN 15.4 2,930 BMTR 28.8 1,835 PGAS (13.3) 5,200 BSDE 15.8 2,090 PTBA (8.6) 11,425 BUMI 30.0 104 SMCB (12.4) 1,915 BWPT (13.3) 347 SMGR (9.4) 14,675 CPIN 0.0 3,780 SSIA 2.3 1,095 EXCL (4.3) 4,655 TLKM (1.4) 2,825 GGRM (8.2) 55,700 UNTR 3.2 17,900 GIAA 1.8 565 UNVR 12.6 36,375 HRUM (6.6) 1,550 JAKPROP INDEXJAKBIND INDEX
Sectors JAKFIN INDEX
Description JAKCONS INDEX
Property 6.8 JAKMIND INDEX
Basic Industry (4.5) JAKINFR INDEX
Trade 1.2 JAKAGRI INDEX
Finance 1.9 JAKMINE INDEX
Miscellaneous Industry 3.5 Consumer 2.4 Infrastructure (3.6) Agriculture (7.2) Mining (2.7) 1-mth Return % Selected Indonesian Equities
15.8 19.0 15.4 15.5 16.4 16.3 17.1 14.0 15.1 12.2 14.1 11.3 11.4 14.6
Wednesday, February 04, 2015
Dividend
Wednesday, February 04, 2015
Ticker Status DPS (IDR)
Cum Date Ex Date Recording Payment
BIPI Final 1 13 Januari 2015 14 Januari 2015 16 Januari 2015 30 Januari 2015
Rights Issue
Ticker Ratio Price (Rp) Cum Date EX Date Trading
WOMF 27:20 135 28 January 2015 29 January 2015 4 February –11 February 2015
Global Reference Rates FOREX Rate (USD) Change %
FED Rate 0.25 USDIDR 12,595 0.49 BI Rate 7.75 USDEUR 0.87 0.10 ECB Rate 0.05 USDJPY 118 (0.24)
BOJ Rate 0.10 USDSGD 1.35 0.03 BOE Rate 0.50 USDAUD 1.28 (0.13)
PBOC Rate 5.60 USDGBP 0.66 0.03
Description Jan-15 Dec-14
Inflation YTD (%) (0.24) 8.36 8.15 Inflation YOY (%) 6.96 8.36 0.96 Inflation MOM (%) (0.24) 2.46 1.46 Foreign Reserves (USD bn) 111.86 111.14 6.86 GDP YOY Growth Rate 3Q14 (%) 5.01 7.02 GDP Growth Rate 2014 (%) 2.62 7.17
Dual Listed Price (IDR) Change %
TLKM (US) 2,695.33 0.00 ANTM (GR) 910.06 0.00
%
Lending & Deposit Rates
INDOGB 15Y YIELD (%) JIBOR (IDR) (%) LIBOR (GBP) (%) SIBOR (USD) (%) INDOGB 5Y YIELD (%) INDOGB 10Y YIELD (%)
MACRO INDICATORS 2014 2015
APBNP APBN
GDP Growth (%, YoY) 5,5 5,8
Inflation (%, YoY) 5,3 4,4
Exchange rate (USD/IDR) 11.600 11.900
3 Months SPN (%) 6.0 6.0
Indonesian Crude Oil (USD/barrel) 105 105 Oil Lifting ( thousands barrel/day) 818 900 Gas Lifting (thousands, BOE/day) 1.224 1.248 Total State Budget (in IDR trillion) 1,635 1,793
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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-Wednesday, February 04, 2015
EQUITY RESEARCH ANALYST
James Wahjudi Coal and Mining
T: +62 21 3925550 Ext: 611
JUNIOR ANALYST Wilbert
Consumer goods and Retail T: +62 21 3925550 Ext: 273 [email protected]
ANALYST Evan Hadiwidjaja Banking and Cement T: +62 21 3925550 Ext: 610 [email protected] TECHNICAL ANALYST Eddy Wijaya T: +62 21 3925550 Ext: 159 [email protected]
