Daily Insight Thursday, Feb 2nd 2017
Market Update IHSG diprediksi akan bergerak menguat pada perdagangan hari ini. Pasar saham Eropa dan Amerika ditutup naik kemarin setelah The Fed kemarin merilis tingkat suku bunganya bulan ini tidak berubah serta mengatakan pasar tenaga kerja yang terus menguat dan ekonomi masih berkembang pada kecepatan moderat. Investor juga sedang mencerna laporan kinerja full year tahun lalu. Harga minyak turun setelah persediaan minyak dan bensin AS melonjak. Tercatat, manufaktur zona Euro dan AS mengalami penguatan. Hari ini akan rilis data Unemployment Claims AS serta statement dari Bank Sentral Eropa dan Negara Inggris. Pasar saham Jepang, Korea, dan Australia dibuka mixed pagi ini. Dari dalam negeri, Inflasi bulan Januari tercatat naik diatas perkiraan secara bulanan maupun tahunan serta data PMI Manufaktur Nikkei yang tercatat turut menguat. Pergerakan yang terkonsolidasi kembali diperlihatkan IHSG secara teknikal dimana terlihat seakan tertahan pada support MA25 dan kembali menguji upper bollinger bands dan resistance trend Gann Fan. Indikator Stochastic meluncur dari area overbought menuju oversold. Sehingga diperkirakan IHSG masih akan bergerak mixed tetahan dengan range pergerakan 5293-5345. Saham-saham yang masih dapat dicermati diantaranya AALI, ANTM, KLBF, LSIP, BJBR, INAF, KAEF, MPPA, TINS.
Dow Jones S&P 500 Nasdaq FTSE 100 DAX CAC 40 Hang Seng Nikkei Kospi Shanghai Comp All Ordinaries EIDO Idn CDS 5yr USD MSCI Emerging Mkt CBOE SPX Volatility US Dollar Index
1-Feb-17 19,890.94 2,279.55 5,642.65 7,107.65 11,659.50 4,794.58 23,318.39 19,148.08 2,080.48 #N/A N/A 3,865.66 24.49 152.17 913.00 11.81 99.64
Daily Yt d 0.1% 0.6% 0.0% 1.8% 0.5% 4.8% 0.1% -0.5% 1.1% 1.6% 1.0% -1.4% #VALUE! 6.0% 0.6% 0.2% 0.6% 2.7% #VALUE! #VALUE! 0.2% -0.2% 0.3% 1.5% 2.5% 0.4% -1.5% 0.1%
-3.6% 5.9% -15.9% -2.5%
Co mmo dit ies (USD) Coal CPO (MYR) Crude Oil Gold Copper Nickel Tin HRC Steel Corn Soybean
1-Feb-17 81.80 #N/A N/A 53.88 1,209.84 271.15 10,203.25 19,825.00 620.00 368.25 1,036.75
Daily Yt d -0.4% -8.8% #VALUE! #VALUE! 2.0% 0.3% -0.1% 5.4% -0.6% 8.2% 3.0% 2.3% 0.2% -6.5% 0.3% -2.1% 2.4% 4.6% 1.2% 4.0%
Indo nesia USDIDR IHSG LQ45 ISSI JII Finance Property Consumer Misc Indust Basic Indust Mining Agriculture Trading Infrastructure
1-Feb-17 13,368.00 5,327.16 886.25 173.32 696.28 812.94 518.17 2,339.05 1,338.38 551.99 1,430.50 1,915.18 868.61 343.44
Indo nesia St o ck Foreign Net Buy (Sell) Value Shares Traded Volume Shares Traded
1-Feb-17 Yt d 363.86 (603) (bn Rp) 6,696.39 (bn Rp) 26,496.75 (mn shares)
Go vt Bo nd Yield (%) Indonesia 10yr IDR Indonesia 10yr USD US Treasury 10yr
1-Feb-17 7.650 4.103 2.480
Daily 0.0% 0.6% 1.0% 0.5% 1.0% 1.0% -0.6% 0.6% 1.1% -0.1% 1.4% -1.7% 0.6% 0.8%
Yt d -0.8% 0.6% 0.2% 0.7% 0.3% 0.1% 0.1% 0.6% -2.4% 2.6% 3.3% 2.7% 0.9% 0.6%
Chg 0.034 (0.030) Source: Bloomberg
your reliable partner | 1 www.reliance-securities.com, www.relitrade.com | Please see important disclosure information on the final page of this document
Misc Indust
Basic Indust
Finance
Consumer
Property
Infrastructure Trading Mining Agriculture
LS 27 average ret urn JCI Index
ASII IJ Equity GJTL IJ Equity SRIL IJ Equity SMGR IJ Equity INTP IJ Equity CPIN IJ Equity JPFA IJ Equity BBTN IJ Equity BBNI IJ Equity BBRI IJ Equity BBCA IJ Equity UNV R IJ Equity MYOR IJ Equity INDF IJ Equity WSKT IJ Equity WIKA IJ Equity PPRO IJ Equity KIJA IJ Equity TLKM IJ Equity JSMR IJ Equity UNTR IJ Equity LPPF IJ Equity ELSA IJ Equity ADRO IJ Equity AALI IJ Equity LSIP IJ Equity SIMP IJ Equity
1-Feb-17 Daily Yt d P/E 8,050 1.3% -2.7% 23.7 1,120 -2.6% 4.7% 3.8 234 0.9% 1.7% 5.3 9,025 0.0% -1.6% 12.6 15,300 1.8% -0.6% 13.1 3,150 1.6% 1.9% 16.8 1,735 -1.1% 19.2% 8.4 1,890 -0.8% 8.6% 8.9 5,950 4.4% 7.7% 9.7 11,950 1.9% 2.4% 11.3 15,425 0.8% -0.5% 19.2 41,275 0.2% 6.4% 49.0 1,825 3.1% 10.9% 39.0 7,925 0.0% 0.0% 16.5 2,560 0.0% 0.4% 19.8 2,520 -1.9% 6.8% 26.3 1,265 -0.4% -7.0% 15.6 290 0.0% -0.7% 9.6 3,940 1.8% -1.0% 20.8 4,240 0.5% -1.9% 16.0 22,300 2.1% 4.9% 59.0 14,775 0.0% -2.3% 21.5 432 0.0% 2.9% 9.6 1,750 3.2% 3.2% 23.0 16,000 1.4% -4.6% 16.8 1,575 1.6% -9.5% 25.4 515 1.0% 4.3% 16.6 0.8% 2.0% 5,327 0.6% 0.57% Source: Bloomberg
Daily News: Panorama Sentrawisata (PANR): Perseroan melepas 40% kepemilikan saham di PT Panorama Tours Indonesia (PTI) kepada Japan Travel Bureau/ JTB Corporation (JTB), salah satu perusahaaan travel terbesar di dunia. (An.com) Soechi Lines (SOCI): Perseroan akan menyerah terimakan satu kapal pesanan PT Pertmina (Persero) pada Mei 2017. Kapal yang bernama MT Pasamaan itu berbobot 17.500 DWT. MT Pasaman dikerjakan oleh anak usaha Perseroan, PT Multi Ocean Shipyard yang berbasis di Tanjung Balai Karimun. (Bi.com) Puradelta Lestari (DMAS): Perseroan membukukan pendapatan prapenjualan atau marketing sales sebanyak Rp1,1 triliun sepanjang 2016. Sepanjang tahun lalu Perseroan mencetak penjualan lahan industri seluas 53 hektare. Dengan kata lain, prapenjualan dari setiap meter persegi lahan terjual mencapai Rp2,07 juta. (Bi.com) Bank Rakyat Indonesia (BBRI): Perseroan menargetkan penyaluran kredit usaha rakyat (KUR) pada 2017 sebesar Rp 71,2 triliun. Target penyaluran KUR pada tahun ini naik 2,59% dari realiasi tahun 2016 sebesar Rp 69,4 triliun. (Ko.co.id) Bekasi Fajar Industrial Estate (BEST): Perseroan mencanangkan belanja modal (capital expenditure/capex) sekitar Rp700-800 miliar pada tahun 2017. Sebagian besar dana tersebut akan dipergunakan untuk mengakuisisi lahan seluas 900-1.000 hektar (ha). (Iqp) Mitra Investindo (MITI): Perseroan akan melakukan Penambaha Modal Tanp HMETD Penempatan terbatas (Privace Placement) guna membiayai akuisisi 23,4 persen saham PT Benakat Oil. Jumlah saham yang akan diterbitkan sebanyak 128.322.800 saham dengan harga nominal Rp20 dimana dana yang ditargetkan mencapai Rp17.541.900.900. (Iqp) Logindo Samudera Makmur (LEAD): Perseroan berencana melakukan penambahan modal dengan memberikan Hak Memesan Efek Terlebih Dahulu (rights issue) dengan menerbitkan sebanyak-banyaknya 1.626.504.465 saham baru. Harga nominal saham baru tersebut sebesar Rp25 dengan harga penawaran di kisaran Rp83 - 92 per lembar saham sehingga diperkirakan nilai yang bisa diraih sekitar Rp135 hingga Rp149 miliar. (Iqp) Surya Eka Perkasa (ESSA): Perseroan menyiapkan belanja modal sebesar US$500 juta tahun ini dimana dana ini akan dimanfaatkan untuk membiayai pembangunan pabrik amonia di Kabupaten Banggai, Sulawesi Tengagh. (Iqp)
your reliable partner | 2 www.reliance-securities.com, www.relitrade.com | Please see important disclosure information on the final page of this document
World Economic Calendar 01-Feb-17
02-Feb-17
Event CN Non-manufacturing PMI NBS Manufacturing PMI GE Markit Manufacturing PMI EU Markit Manufacturing PMI U S ADP Employment Change Markit Manufacturing PMI ISM Manufacturing PMI ISM Prices Paid Construction Spending (MoM) Fed Interest Rate Decision EU US
Producer Price Index (YoY) Initial Jobless Claims U nit Labor Costs Nonfarm Productivity
Dat e 2-Feb-17 6-Feb-17 9-Feb-17 20-Feb-17 20-Feb-17 21-Feb-17 23-Feb-17 23-Feb-17 28-Feb-17 28-Feb-17 28-Feb-17 1-Mar-17 1-Mar-17 3-Mar-17 3-Mar-17 8-Mar-17 9-Mar-17
Prior 54.5 51.4 56.5 55.1 153K 51.8 55.1 54.7 0.75%
Dec Jan Dec Dec
0.10% 259K 0.70% 3.10%
Survey 51.2 56.5 55.1 168K
54.5
Actual 54.6 51.3 56.4 55.2 246K 55.0 56.0 59.0 0.75%
2.00% 0.90% Source:Fxstreet
Indo nesia 10yr IDR Go vt Bo nd Yield
RUPS Ticker HADE DNAR BCIP XCID ANJT DPUM PADI FPNI SOBI BKSW BYAN KKGI GZCO BPFI LAMI PPRO POLY
Period Jan Jan Jan Jan Jan Jan Jan Dec Jan
Place
Act io n
Fave Hotel Melaw ai
RUPSLB RUPSLB RUPSLB RUPSLB RUPSLB RUPSLB RUPSLB RUPSLB RUPSLB RUPSLB RUPSLB RUPSLB RUPSLB RUPSLB RUPSLB RUPSLB RUPSLB Source: KSEI
Sofyan Hotel Ballroom Lt.5 Plaza Asia Office
Ruang Seminar Bursa Efek Indonesia Hotel Intercontinental Midplaza Gedung Office 8, Lt 37 Gedung Perseroan Ruang Rapat Perseroan Hotel Tunjungan, Surabaya Auditorium Lantai 1 Plaza PP Ruang Candi Singosari, Grand Sahid
Date
Yield (mid) 1-Feb-17
7.83
31-Jan-17
7.84
30-Jan-17
7.82
27-Jan-17
7.80
26-Jan-17
7.77
Dat e
Indo nesia St o ck
Yt d Net
Fo reign Net
Value (Rp bn)
Buy (Sell) (Rp bn)
JASXFBAT Index 1-Feb-17
363.86
31-Jan-17
(405.84)
30-Jan-17
302.75
27-Jan-17
379.91
26-Jan-17
229.06
(602.93)
So urce: B lo o mberg
your reliable partner | 3 www.reliance-securities.com, www.relitrade.com | Please see important disclosure information on the final page of this document
Indonesia Government Bonds OR11 OR12 OR13 SR06 SR07 SR08 FR28 FR31 FR32 FR34 FR35 FR36 FR37 FR38 FR39 FR40 FR42 FR43 FR44 FR45 FR46 FR47 FR48 FR50 FR52 FR53 FR54 FR56 FR57 FR58 FR59 FR60 FR61 FR62 FR63 FR64 FR65 FR66 FR67 FR68 FR69 FR70 FR71 FR72 FR73 FR74
Mat urit y 10/15/2017 10/15/2018 10/15/2019 3/5/2017 3/11/2018 3/10/2019 7/15/2017 11/15/2020 7/15/2018 6/15/2021 6/15/2022 9/15/2019 9/15/2026 8/15/2018 8/15/2023 9/15/2025 7/15/2027 7/15/2022 9/15/2024 5/15/2037 7/15/2023 2/15/2028 9/15/2018 7/15/2038 8/15/2030 7/15/2021 7/15/2031 9/15/2026 5/15/2041 6/15/2032 5/15/2027 4/15/2017 5/15/2022 4/15/2042 5/15/2023 5/15/2028 5/15/2033 5/15/2018 2/15/2044 3/15/2034 4/15/2019 3/15/2024 3/15/2029 5/15/2036 5/15/2031 8/15/2032
Price (Bid) 101.83 103.42 98.90 100.37 102.09 102.53 101.85 111.88 111.22 119.78 123.42 109.95 127.58 106.92 120.46 119.51 116.44 111.86 112.22 113.01 109.04 114.92 103.14 120.51 119.42 103.16 111.37 104.47 110.29 100.84 95.44 99.84 98.63 78.41 90.12 86.31 86.36 98.32 102.20 101.92 101.62 103.32 107.31 100.56 105.17 95.54
Y TM (Bid) 5.83 6.86 7.05 4.56 6.29 7.00 5.72 7.34 6.73 7.40 7.51 7.24 7.86 6.77 7.70 7.84 7.91 7.55 7.83 8.40 7.69 7.94 6.90 8.42 8.11 7.40 8.15 7.71 8.49 8.15 7.65 6.96 7.31 8.46 7.63 7.99 8.15 6.63 8.54 8.16 7.06 7.76 8.04 8.19 8.13 8.01
Cpn 8.50 9.00 6.60 8.75 8.25 8.30 10.00 11.00 15.00 12.80 12.90 11.50 12.00 11.60 11.75 11.00 10.25 10.25 10.00 9.75 9.50 10.00 9.00 10.50 10.50 8.25 9.50 8.38 9.50 8.25 7.00 6.25 7.00 6.38 5.63 6.13 6.63 5.25 8.75 8.38 7.88 8.38 9.00 8.25 8.75 7.50
Next Coupon Issued 2/15/2017 10/22/2014 2/15/2017 10/21/2015 2/15/2017 10/26/2016 2/5/2017 3/5/2014 2/11/2017 3/11/2015 2/10/2017 3/10/2016 7/15/2017 2/24/2005 5/15/2017 6/16/2005 7/15/2017 9/1/2005 6/15/2017 1/26/2006 6/15/2017 2/16/2006 3/15/2017 4/20/2006 3/15/2017 5/18/2006 2/15/2017 8/24/2006 2/15/2017 8/24/2006 3/15/2017 9/21/2006 7/15/2017 1/25/2007 7/15/2017 2/22/2007 3/15/2017 4/19/2007 5/15/2017 5/24/2007 7/15/2017 7/19/2007 2/15/2017 8/30/2007 3/15/2017 9/27/2007 7/15/2017 1/24/2008 2/15/2017 8/20/2009 7/15/2017 7/8/2010 7/15/2017 7/22/2010 3/15/2017 9/23/2010 5/15/2017 4/21/2011 6/15/2017 7/21/2011 5/15/2017 9/15/2011 4/15/2017 10/6/2011 5/15/2017 10/6/2011 4/15/2017 2/9/2012 5/15/2017 8/13/2012 5/15/2017 8/13/2012 5/15/2017 8/30/2012 5/15/2017 10/25/2012 2/15/2017 7/18/2013 3/15/2017 8/1/2013 4/15/2017 8/29/2013 3/15/2017 8/29/2013 3/15/2017 9/12/2013 5/15/2017 7/9/2015 5/15/2017 8/6/2015 2/15/2017 11/10/2016 Source: Bloomberg your reliable partner | 4
www.reliance-securities.com, www.relitrade.com | Please see important disclosure information on the final page of this document
Key Statistic Ticker
Closing Price
Change (%)
P/E (x)
AGRICULTURE, MEDIAN PER=
SSMS LSIP DSNG
1.43 1.72 (1.23) 1.61 -
16.82 #N/A N/A 27.17 25.38 32.39
3.24 8.02 1.17 0.86
23.03 #N/A N/A 22.44 16.02
MIN IN G, MEDIAN PER= INCO ITMG PTBA
CON SUMER GOODS, MEDIAN PER= UNV R ULTJ ICBP KLBF MYOR ROTI SIDO
23.81 0.18 1.14 0.30 2.41 3.11 (0.32) -
15.18 49.05 19.05 28.99 31.53 38.97 28.31 19.11
1.34 (0.37) 1.45 0.80 0.59 2.06
19.16 26.92 21.46 1.57 64.62 12.06 59.04
755.00 6,650.00 14,775.00 3,500.00 2,520.00 1,705.00 22,300.00
AKRA LPPF SRTG MIKA MNCN UNTR
PROPERTY & KON STRUKSI MEDIAN PER= ASRI PWON BSDE CTRP CTRA CTRS DILD KIJA LPKR SMRA SSIA ADHI WIKA WSKT LPCK MDLN JRPT
1.05 0.89 0.27 0.44 (0.68) (0.76) (1.43) (1.95) (0.60) (1.20) -
4.90 6.35 19.34 22.69 35.65 19.92 12.65 12.00 9.60 14.66 412.91 #N/A N/A 15.99 26.27 19.78 5.43 6.90 12.83
1.61 1.83 2.14 (5.42) -
16.81 13.14 84.13 #N/A N/A 12.59
1.26 (1.39) 1.69 0.86
23.70 24.19 12.85 5.28
0.82 4.39 1.92 (0.79) (0.72) 0.69 2.71 (0.82) 0.87
19.22 9.73 11.28 8.91 13.13 14.41 8.98 5.26 8.93 13.36
BASIC IN DUSTRY & CHEMICAL, MEDIAN PER=
3,150.00 15,300.00 1,195.00 2,270.00 900.00 9,025.00
CPIN INTP MAIN SMBR SMCB SMGR
8,050.00 2,130.00 900.00 234.00
AUTO SMSM SRIL
BBRI BBTN BDMN BMRI BTPN BBKP BJTM BJBR
IN FRASTRUCTURE, MEDIAN PER= CMNP EXCL TBIG SOCI JSMR PGAS TLKM TOWR Top Gainers (%) Top Lossers (%) Low est PER
1.78 3.27 0.94 1.91
1.38 1.04 1.42 2.60
2.94 (0.37) 4.02 9.47
6.10 (0.46) 5.58 16.78
0.97 8.07 2.80 2.88 3.64 2.76 3.26 3.77
1.70 49.65 3.85 5.86 6.16 7.25 5.96 3.19
4.83 39.22 18.22 12.50 15.80 10.62 10.50 15.58
11.82 106.11 22.49 21.47 20.70 24.10 22.95 16.75
2.66 1.68 4.44 1.49 16.99 3.58 1.85
4.54 4.04 0.51 11.47 2.57 2.16
20.43 6.22 54.40 29.20 19.25 13.61 2.14
25.30 15.65 41.05 23.12 22.48 3.58
0.69 3.01 5.79 6.10 2.28 3.11 2.93 2.07 2.15 1.78 3.96 0.74 0.67 1.12 1.66 1.93 1.78 5.25
0.59 1.05 3.28 1.77 0.92 2.33 1.62 0.98 1.19 0.89 3.12 1.00 1.42 3.62 3.38 0.84 0.68 2.66
3.51 6.44 7.19 4.31 1.23 3.15 6.41 3.69 6.31 2.65 0.56 (0.80) 2.87 3.20 4.30 11.96 4.65 12.01
12.85 18.13 18.65 8.18 2.63 9.93 13.90 8.41 13.21 6.45 1.76 (1.84) 12.89 14.46 16.91 17.08 10.36 22.44
1.44 3.46 0.50 15.18 0.72 1.99
3.54 2.21 1.50 7.39 0.84 1.96
12.74 15.90 6.22 7.46 2.05 11.05
23.24 17.76 17.27 8.98 4.81 16.16
1.83 0.81 1.85 0.50
3.08 1.11 3.85 1.06
5.44 2.89 18.00 7.72
13.34 4.62 31.13 21.69
6.00 2.08 2.66 1.14 1.53 2.61 1.09 0.53 1.80 1.98
3.48 1.27 2.08 1.10 1.10 1.70 0.98 0.59 1.27 2.34
3.18 2.04 2.99 1.24 1.63 1.89 2.08 1.10 2.40 1.70
20.27 13.86 20.91 14.37 8.67 13.60 12.02 12.51 15.23 19.96
2.00 1.32 4.65 1.12 2.02 1.69 3.43 7.14
1.14 1.44 14.52 0.57 2.55 1.68 4.67 3.54
8.29 0.66 6.63 8.57 4.78 5.22 11.12 22.01
12.79 2.13 72.69 15.86 17.24 11.21 24.19 63.38
11.28
15,425.00 5,950.00 11,950.00 1,890.00 4,130.00 10,975.00 2,650.00 605.00 615.00 2,320.00
BBNI
11.98 (6.22) 19.36 5.88 7.57
18.27
FIN AN CE, MEDIAN PER= BBCA
7.37 (2.38) 8.14 4.79 2.21
13.14
MISCELAN EOUS IN DUSTRY, MEDIAN PER= ASII
1.90 1.79 5.02 1.46 2.34
17.67
220.00 386.00 565.00 1,835.00 1,320.00 460.00 290.00 730.00 1,300.00 635.00 2,070.00 2,520.00 2,560.00 4,950.00 330.00 875.00
APLN
2.23 5.05 6.43 2.88 1.50
21.46
TRADIN G, MEDIAN PER= ACES
ROE (%)
28.99
1,950.00 41,275.00 4,440.00 8,425.00 1,485.00 1,825.00 1,575.00 560.00
AISA
ROA (%)
22.44
1,750.00 2,560.00 15,175.00 11,700.00
ADRO
P/B (x)
25.38
16,000.00 354.00 1,600.00 1,575.00 535.00
AALI BWPT
P/S (x)
13.18
1,500.00 2,850.00 4,940.00 300.00 4,240.00 2,880.00 3,940.00 3,450.00
(2.06) (0.20) 0.47 1.81 (1.43)
9.44 13.18 3.87 15.97 15.49 20.76 8.00
1
2
3
4
5
AISA
INCO
BBNI
ADRO
MYOR
68
66
65
64
63
WIKA
ADHI
AUTO
SSMS
MDLN
70
69
68
67
66
SOCI
APLN
BBKP
SRIL
LPCK So urce: B lo o mberg, Reliance Research
your reliable partner | 5 www.reliance-securities.com, www.relitrade.com | Please see important disclosure information on the final page of this document
Contact Us RESEARCH DIVISION
HEAD OFFICE
RELIANCE CAPITAL BUILDING Jl. Pluit Sakti Raya No. 27AB, Pluit Penjaringan Jakarta 14450 T +62 21 6617768 F +62 21 6619884
Robertus Yanuar Hardy
Research Analyst
[email protected]
Rio Adrianus, CSA
Research Analyst
[email protected]
Aji Setiawan
Associate Research Analyst
[email protected]
Shanti Dwi Jayanti
Associate Research Analyst
[email protected]
Lanjar Nafi Taulat I
Technical Research Analyst
[email protected]
EQUITY DIVISION
Jakarta - Pluit Jl. Pluit Sakti Raya No.27AB , Pluit Jakarta 14450 T. +62 21 6617768 F. +62 21 6619884
Solo Jl. Slamet Riyadi 330A Solo 57145 T. +62 271 736599 F. +62 271 733478
Jakarta – Sudirman Menara Batavia Ground Floor Jl.KH.Mas Mansyur Kav 126 Jakarta 10220 T. +62 21 57905455 F. +62 21 57950728
Tangerang Jl. Pahlawan Seribu Ruko BSD Sektor 7 Blok RK kav. 9 Tangerang 15310 T. +62 21 5387495 F. +62 21 5387494
Malang Jl. Guntur No. 19 Malang 65112 T. +62 341 347611 F. +62 341 347615
Pontianak Jl. MT Haryono No. 6 Pontianak 78121 T. +62 561 575674 F. +62 561 575670
Surabaya - Gubeng Jl. Bangka No. 22 Surabaya 60281 T. +62 31 5011128 F. +62 31 5033196
Bandung Jl.Cisangkuy No.58 Bandung 40115 T. +62 22 7218200 F. +62 22 7219255
Jakarta – Kebon Jeruk Plaza Kebon Jeruk Jl.Raya Perjuangan Blok A/2 Jakarta 11530 T. +62 21 5324074 F. +62 21 5362157
Yogyakarta Sales Representavive Office KP BEI Yogyakarta T. +62 550 123 F. +62
Denpasar Dewata Square Blok A3 Jl. LetdaTantular Renon Denpasar 802361 T. +62 361 225099 F. +62 361 245099
Tasikmalaya Ruko Tasik Indah Plaza No. 21 Jl. KHZ Mustofa No. 345 Tasikmalaya 46121 T. +62 265 345000 F. +62 265 345003
Jakarta - Centro Ruko Centro Residence Kav. 4-5 Tower C Lt. 1 No. 26-29 Jl. Macan, Daan Mogot Jakarta 14450 T. +62 21 56945227 F. +62 21 56945226 Surabaya – Diponegoro Jl. Bogowonto 25, Darmo Surabaya 60261 T. +62 31 5670388 F. +62 31 5610528 Balikpapan Ruko Bukit Damai Indah Blok I, No. 3, Rt. 34 Jl. MT. Haryono, Gunung Bahagia, Balikpapan Selatan 76114 T. +62 542 746313 F. +62 542 746317 Makassar Jl. Latimojong RukoLatimojong Indah 46B/16 Makassar-Sulawesi Selatan T. +62 411 363 2388 F. +62 411 361 4634 Pekanbaru Jl. Jenderal Sudirman No. 73 (Sudirman bawah) Pekanbaru – Riau T. +62 761 840 2987 F. +62 761 840 2987 Medan Jl. Teuku Amir Hamzah No. 26 Medan 20117 T. +62 61 6638592 F. +62 61 6638023
your reliable partner | 6 www.reliance-securities.com, www.relitrade.com | Please see important disclosure information on the final page of this document
Contact Us IDX CORNER & INVESTMENT GALLERY
STIE Malangkucecwara Jl. Terusan Candi Kalasan Malang 65142 T. +62 341 491813 F. +62 341 495619 Universitas Muhammadiyah Gresik Jl. Sumatra 101 GKB Gresik 61121 T. +62 31 3951414 F. +62 31 3952585 Universitas Surabaya Jl. Raya Kalirungkut Surabaya 60293 T. +62 31 2981203 F. +62 31 2981204 Universitas Muhammadiyah Malang Jl. Raya Tlogomas 246 Malang 65144 T. +62 341 464318-9 F. +62 341 460782 Universitas Siliwangi Tasikmalaya Jl. Siliwangi No. 24 Tasikmalaya 46151 T. +62 265 323685 F. +62 265 323534 Politeknik Kediri Jl. Mayor Bismo No. 27 Kediri 64121 T +62 354 683128 F +62 354 683128 Universitas Negeri Malang Jl. Surabaya No. 6 Malang 65145 T. +62 341 585914 F. +62 341 55288
Universitas Negeri Makassar FakultasEkonomiGedung BT Lt. 2 Jl. A. P. Pettarani, Kampus UNM, Gunungsari Baru Makassar 90222 T. +62 411 889464, 881244 F. +62 411 887604 Universitas Muhammadiyah Pontianak Jl. Ahmad Yani, No. 111 Pontianak 78124 T. +62 561 743465 F. +62 561 766840 STIE AAS Jalan Slamet Riyadi No 361 Kartasura, Surakarta T. +62 271 726156 F. +62 271 726156 Universitas Tanjungpura Pontianak Jl. Jendral Ahmad Yani Pontianak 78124 T. +62 561 743465 F. +62 561 766840 STIE "AUB" Surakarta Jl. Mr. Sartono 97, Cengklik Nusukan, Surakarta 57135 T. +62 271 854803 F. +62 271 853084 STIESIA Surabaya Jl. MenurPumpungan 30 Surabaya T. +62 31 5947505 F. +62 31 5932218
Universitas Muhammadiyah Sidoarjo Jl. Majapahit 666 B Sidoarjo, JawaTimur T. +62 31 8945444 F. +62 31 8949333 Universitas Pesantren Tinggi Darul Ulum Kompleks Pp Darul Ulu, Peterongan Jombang, JawaTimur 60281 T. +62 321 873655 F. +62 321 875771 STIE Tri Bhakti Jl. Teuku Umar No.24 Cut Meutia Setiakawan, Bekasi T. +62 21 8242 9400, 8242 9500 F. +62 271 726156 STIKOM BALI JL. Raya Puputan No. 86, Renon, Denpasar Timur, kota Denpasar Bali-80234 T. +62 361 244445 STIKOM BALI JL. Raya Puputan No. 86, Renon, Denpasar Timur, kota Denpasar Bali-80234 T. +62 361 244445 Universitas 17 Agustus 1945 Banyuwangi Jl. AdiSucipto 26 Banyuwangi, JawaTimur T. +62 333 419163 F. +62 333 419163
Disclaimer: Information, opinions and recommendations contained in this document are presented by PT Reliance Securities Tbk. from sources that are considered reliable and dependable. This document is not an offer, invitation or any kind of representations to decide to buy or sell stock. Investment decisions taken based on this document is not the responsibility of PT Reliance Securities Tbk. PT Reliance Securities Tbk. reserves the right to change the contents of this document at any time without prior notice.
your reliable partner | 7 www.reliance-securities.com, www.relitrade.com | Please see important disclosure information on the final page of this document
