OSO SECURITIES. OSO Daily 06 Januari 2015 JCI 5, %

OSO SECURITIES

OSO Daily 06 Januari 2015

MEMBER OF INDONESIA STOCK EXCHANGE

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JCI 5,219.99 Previous 5,242.76 Highest 5,233.66 Volbn 6.42 NetForg 1DIDRbn (144.21) Return YTD (%) (0.13) Indices Countries Americas Dow Jones United States S&P 500 United States Nasdaq United States EIDO United States EMEA FTSE 100 United Kingdom CAC 40 France D DAX Germany Asia Pacific Nikkei Japanese Shanghai China TWSE Taiwan KOSPI Korea KLSE Malaysia ST – Times Singapore Sensex India Hangseng Hongkong Sectoral Previous AGRICULTURE 2,367.09 MINING 1,368.87 MISC INDUSTRY 1,300.56 BASIC INDUSTRY 541.83 CONSUMER GOODS 2,205.28 PROPERTY 532.96 INFRASTRUKTUR 1,156.63 FINANCE 733.32 MANUFAKTURE 1,340.50 TRADE 881.19 LQ 45 903.13 SRI-KEHATI 300.60 Commodities Oil (USD/bbl) Nickel (USD/mtrc ton) Tins (USD/mtrc ton) Gold (USD tr.oz) Copper (USD/mtrc ton) CPO (MYR/ton) Coal (USD/ton) Currencies IDR / USD IDR / AUD IDR / EUR IDR / SGD IDR / JPY IDR / GBP Global Macro Economics United States Euro Area United Kingdom Japan China Domestic Macro Economics Jibor GovBonds (5y) GovBonds (10y) Inflasi YoY Inflasi MoM BI Rate GDP Growth YoY Foreign Reserve (Bn)

-22.77

-0.44%

Lowest Val IDR bn Mkt Cap IDRtr NetForgYTDIDRbn Month to date (%) Last

Chg%

5,206.28 5,507.59 5,220.95 (148.39) (0.13) YTD%

17,501.65 2,020.58 4,652.57 26.27

(1.86) (1.83) (1.57) (1.90)

(1.80) (1.86) (1.76) (4.26)

6,417.16 4,111.36 9,473.16

(2.00) (3.31) (2.99)

(2.27) (3.78) (3.39)

17,408.71 3,350.52 9,274.11 1,915.75 1,736.62 3,329.17 27,869.33 23,721.32 Last 2,322.26 1,356.72 1,274.17 541.52 2,217.21 532.77 1,150.40 731.29 1,337.01 874.89 898.27 298.61 Last 50.15 15,200.00 19,495.00 1,202.61 6,145.00 2,298.00 62.40 Last 12,614 10,187 15,080 9,456 105 19,303 CB Rate (%) 0.25 0.05 0.50 0.10 5.60 Last 5.83 7.73 7.96 8.36 2.46 7.75 5.01 111.14

(0.24) 3.58 (0.36) (0.55) (0.92) (1.23) (0.07) (0.57) Chg% (1.89) (0.89) (2.03) (0.06) 0.54 (0.04) (0.54) (0.28) (0.26) (0.72) (0.54) (0.66) Chg% 0.22 2.49 (0.76) (0.18) (1.76) (0.73) (0.56) Chg% (0.55) 0.27 0.25 (0.16) (0.53) 0.95 CPI YoY (%) 1.30 0.30 1.00 2.90 1.40 Chg% (0.15) 0.52 1.32

(0.24) 3.58 (0.36) 0.01 (1.40) (1.07) 1.35 0.49 YTD% (1.22) (0.90) (2.52) (0.40) 1.80 1.50 (0.85) (0.05) 0.14 (0.43) (0.03) (0.32) YTD% (5.86) 0.33 0.49 1.50 (2.46) 0.31 (0.56) YTD% (1.79) (0.37) (0.11) (0.85) (1.11) (0.08) GDP YoY (%) 2.40 0.80 3.00 (1.30) 7.30 YTD% (1.34) 0.30 2.14

NAV/Unit 1,023.20 1,041.23 1,001.96

1 Mth (%) 0.57 1.66 (0.52)

Sumber : Bloomberg

Mutual Fund Oso Sustainability Fund Oso Syariah Equity Fund Oso Socent Fund

Market Review Awal pekan ini (05/01) IHSG ditutup melemah 0.44% atau turun 22.77 poin ke level 5,219.99. Pelemahan IHSG seiring dengan mengecewakannya data ekonomi Indonesia yang rilis pada akhir pekan lalu serta beberapa data ekonomi dari AS yang mengalami penurunan. Hampir seluruh sektor mengalami pelemahan hanya sektor konsumer yang berhasil bertahan di zona hijau.Investor asing mencatatkan net sell sebesar Rp144 miliar. Global Market Sementara itu, kemarin bursa Wall street ditutup melemah cukup dalam dimana indeks DJIA turun sebesar 1.86% ke level 17,501.6, indeks S&P500 ditutup turun 1.83% di level 2,020.6 dan indeks Nasdaq melemah 1.57% di level 4,652.55. Hal ini dipengaruhi oleh saham sektor energy yang rontok 4% karena penurunan harga minyak mentah menyentuh US$ 50 per barel yang mana adalah penurunan terendah sejak 2009 serta memanasnya krisis politik di Yunani yang dapat menyebabkan Yunani dapat keluar dari Zona Euro. JCI Prediction Hari ini kami perkirakan IHSG masih akan melemah kembali seiring rontoknya bursa AS kemarin dimana secara teknikal ADX mulai bergerak melemah dan stochastic baru membentuk dead cross. Kami perkirakan IHSG akan bergerak pada kisaran 5195-5227.

Highlight News

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GMCW Dapat Kredit 2 Pekan Lagi PGAS Jual 1.85 Juta Saham Treasury LTLS akan Stock Split MASA Tunda Proyek di Mesir dan Kazakhstan TAXI Anggarkan Capex Rp 500 Miliar GIAA Minta Penaikan Rasio Hutang SSMS Finalisasi Pinjaman US$ 60 Juta BEST Naikkan Harga Jual Lahan 13% Tahun Ini

OSO SECURITIES MEMBER OF INDONESIA STOCK EXCHANGE


Today News 

GMCW Dapat Kredit PT Grahamas Citrawisata Tbk (GMCW) mendapat kucuran kredit dari Bank BNI. Dana tersebut untuk merenovasi hotel milik Grahamas. Sebelumnya, manajemen mengincar pinjaman bank Rp 22 miliar untuk rencana tersebut. GMCW adalah pemilik hotel di Sumatera Barat. Semula Hotel tersebut bernama The Hills Bukittinggi, lalu berganti baju menjadi Novotel. Perseroan berharap, tahun ini pendapatan naik 20% YoY menjadi Rp 16,48 miliar. Sumber: Kontan

 2 Pekan Lagi PGAS Jual 1.85 Juta Saham Treasury PT Perusahaan Gas Negara Tbk (PGAS) akan menjual saham hasil buyback. Pelepasan saham tresuri ini sesuai aturan Bapepam-LK tahun 2010. PGAS menunjuk Bahana Securities sebagai broker pelaksana penjualan saham buyback. Waktu pelaksanaan penjualan paling cepat 14 hari sejak keterbukaan informasi. Harga jual saham akan lebih tinggi daripada harga penutupan perdagangan harian satu hari sebelum transaksi. Harga jual saham buyback ini akan menggunakan harga rata-rata harian 90 hari sebelum penjualan. Jika menggunakan patokan harga rata-rata 90 hari, harga jual saham treasuri di Rp 5.916 per saham. Sumber: Kontan 

LTLS akan Stock Split PT Lautan Luas Tbk (LTLS) bakal melakukan aksi pemecahan nominal saham (stock split). Lewat aksi ini, Perseroan bermaksud mengubah nilai nominal sahamnya dari Rp 250 per saham menjadi Rp 125 per saham. Tanggal terakhir penyelesaian transaksi saham dengan nilai nominal lama di Pasar Reguler dan Negosiasi adalah 13 Januari mendatang. Awal perdagangan saham dengan nilai nominal baru di pasar tunai adalah 14 Januari 2015. Adapun stock split ini mengakibatkan jumlah seluruh saham perseoan juga bertambah menjadi 4,8 miliar lembar saham dari semula 2,4 miliar lembar saham. Jumlah saham yang sudah ditempatkan dan disetor juga berubah dari semula sebanyak 780 juta lembar saham menjadi 1,56 miliar lembar saham. Stock split bertujuan membuat saham perseroan lebih liquid, di mana saat ini free float-nya pun sudah besar yaitu sekitar 40%. Tahun ini LTLS akan fokus menggarap tiga proyek utama pada tahun depan dengan total nilai proyek Rp 750 miliar. Ketiga proyek itu adalah perluasan pabrik krimer di Mojosari US$ 40 juta, pergudangan logistik di Semper Tanjung Priuk Rp 150 miliar, dan pembangunan pabrik bahan kimia di Tanggerang US$ 10 juta. Sumber: Investor Daily

 MASA Tunda Proyek di Mesir dan Kazakhstan PT Multistrada Arah Sarana Tbk (MASA) kembali menunda rencana ekspansi pembangunan pabrik ban di Mesir dan Kazakhstan lantaran permintaan ban tengah turun. Sepanjang 2014 penjualan ban MASA merosot 10% dari realisasi penjualan ban pada 2013. Selama sembilan bulan pertama tahun lalu, pasar Timur Tengah berkontribusi 19,52% terhadap total penjualan MASA. Adapun, pasar Asia menyumbang 15,4% dan pasar Eropa berkontribusi 12,44%. Pasar ekspor lain yakni Amerika, Australia, dan Afrika. Sumber: Bisnis Indonesia 

TAXI Anggarkan Capex Rp 500 Miliar PT Express Transindo Utama Tbk (TAXI) menganggarkan dana belanja modal sebesar Rp400 miliar-Rp500 miliar sepanjang 2015, seiring dengan upaya emiten untuk memperkuat infrastruktur operasional. Angka ini lebih rendah dari capex tahun lalu yang sebesar Rp700 miliar. Sepanjang periode September 2014, TAXI meraup pendapatan sebesar Rp640,15 miliar atau tumbuh 26% YoY dan laba bersih naik 15% YoY. Sumber: Bisnis Indonesia

OSO SECURITIES MEMBER OF INDONESIA STOCK EXCHANGE


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GIAA Minta Penaikan Rasio Hutang PT Garuda Indonesia Tbk (GIAA) berharap agar calon kreditor dapat mengabulkan penaikan rasio utang terhadap ekuitas Perseroan hingga 2,5 kali. Saat ini, DER Perseroan mencapai 1,1 kali dengan ekuitas US$1,3 miliar dengan liabilitas US$1 miliar. Perseroan telah meraih pinjaman kredit dari PT Bank Rakyat Indonesia Tbk (BBRI) senilai total Rp1,37 triliun untuk modal kerja. Sumber: Bisnis Indonesia

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SSMS Finalisasi Pinjaman US$ 60 Juta PT Sawit Sumbermas Sarana Tbk (SSMS) merampungkan proses pencarian pinjaman senilai US$60 juta dari bank lokal dan asing untuk kebutuhan akuisisi dua perusahaan perkebunan. Proses pencarian pinjaman tengah berlangsung dan akan rampung pada kuartal pertama tahun ini. Sumber: Bisnis Indonesia



BEST Naikkan Harga Jual Lahan 13% Tahun Ini PT Bekasi Fajar Industrial Estate Tbk (BEST) lebih memilih untuk menaikkan harga jual lahan hingga 13% dibandingkan meningkatkan volume penjualan lahan untuk mengejar target penjualan pada tahun ini. Target penjualan lahan pada tahun ini mencapai 40 Ha atau senilai Rp800 miliar. Volume ini tidak berubah dari realisasi penjualan lahan industri pada 2014. Sepanjang tahun lalu, Perseroan telah menaikkan harga lahan sekitar 8,5%, dari posisi terakhir pada tahun sebelumnya sekitar US$175 per meter persegi. Adapun, dana yang disiapkan Perseroan untuk akusisi lahan pada tahun ini mencapai Rp600 miliar hingga Rp800 miliar. Per 30 Sept 2014, laba bersih turun 41% YoY. Sumber: Bisnis Indonesia

OSO SECURITIES



Trading Idea MYOR Rp. 23100 Saham ini telah break MA 15 dimana indikator stochastic dan ROC masih bergerak uptrend, dan MACD baru membentuk golden cross.

Recommendation: Speculative Buy Speculative Buy untuk MYOR dengan target price di level 23700 dalam waktu dekat. Support di level 22650 dan cutloss jika break level 22000.

CTRA Rp. 1385 Saham ini telah break resistance di level 1370 dan telah break upper Bollinger band. Indikator RS masih bergerak uptrend dan MACD baru membentuk golden cross.

Recommendation: Speculative Buy Speculative Buy untuk CTRA dengan target price di level 1475. Support di level 1370 dan cutloss jika break level 1340.

BSDE Rp. 1925 Saham ini telah break pola head and shoulder dimana indikator RS dan stochastic masih bergerak uptrend. Sedangkan MACD baru membentuk golden cross. Akan tetapi hati-hati ada koreksi terbatas karena stochastic terlihat hampir membentuk dead cross.

Recommendation: Speculative Buy Speculative Buy untuk BSDE dengan target price di level 2070. Support di level 1900 dan cutloss jika break level 1865 .

Rating Definitions Buy On Breakout Buy On Weakness Speculative Buy Sell On Strength

: Buying when the stock prices breach up the predetermined resistance level : Buying when the stock prices reach the potential bottoming area : Buying stock that yields around 1:1 reward-to-risk ratio and usually has no significant indication to rise : Selling when the stock prices are experiencing technical rebound

OSO SECURITIES



Fundamental Analysis (LQ 45) Ticker AALI ADHI ADRO AKRA ANTM ASII ASRI BBCA BBNI BBRI BBTN BDMN BMRI BMTR BSDE CPIN CTRA EXCL GGRM HRUM ICBP INCO INDF INTP ITMG JSMR KLBF LPKR LPPF LSIP MNCN PGAS PTBA PTPP PWON SCMA SMGR SMRA TAXI TBIG TLKM UNTR UNVR WIKA WSKT

Last Price 24,675 3,420 1,025 4,550 1,040 7,225 570 13,200 6,025 11,600 1,220 4,600 10,800 1,415 1,925 3,785 1,385 4,820 63,700 1,730 13,150 3,540 7,475 24,775 15,500 7,000 1,810 1,025 14,775 1,930 2,520 5,900 12,350 3,540 540 3,395 16,225 1,570 1,200 9,400 2,835 16,875 32,475 3,575 1,405

P/BV P/E (x) (x) 2015F 3.59 13.79 4.06 17.14 0.91 10.16 3.47 18.50 0.82 20.99 3.23 13.27 1.92 8.12 4.37 17.16 2.01 9.84 3.13 10.61 1.09 8.43 1.37 12.02 2.60 11.06 1.77 12.13 2.40 14.07 5.70 17.77 3.01 14.81 2.95 33.14 3.86 19.96 1.23 15.24 5.66 24.90 1.51 10.79 2.59 13.85 3.92 16.12 1.43 7.78 4.80 26.11 9.64 33.16 1.60 14.79 #N/A N/A 21.72 1.88 12.06 4.22 15.93 4.33 13.76 3.34 13.41 7.98 24.89 5.23 12.73 16.02 27.84 4.27 15.43 4.50 17.31 2.93 15.08 10.53 24.18 4.31 16.74 1.75 10.67 45.28 40.29 5.28 26.64 5.62 25.90

PEG (0.55) 0.20 (0.00) (27.33) #VALUE! (694.62) (0.50) 0.98 0.39 1.07 47.22 18.89 0.73 (0.53) 0.09 (5.18) 0.28 #VALUE! 3.04 (0.22) 18.39 (0.00) (0.78) 3.40 (0.14) (1.96) 3.80 1.06 0.67 (0.41) 14.69 1.44 (0.36) 0.97 0.33 (1.21) 1.60 0.62 1.14 0.65 1.87 (0.62) 4.38 1.97 245.82

BETA 0.03 2.03 0.27 1.19 0.48 1.37 2.01 1.22 1.70 1.66 1.61 0.63 1.64 1.39 1.44 2.03 2.09 0.61 0.96 0.05 1.30 0.46 1.21 1.16 0.47 0.70 1.30 1.89 1.40 0.21 1.16 1.00 0.44 1.91 1.86 0.81 1.39 2.06 1.23 0.56 1.14 0.70 0.97 1.57 2.15

ROA ROE DER (%) (%) (x) 16.95 28.06 0.28 3.52 23.12 0.95 3.79 9.64 0.83 4.71 14.17 1.08 (2.28) (4.04) 0.53 9.19 24.35 0.77 5.45 15.07 0.89 3.14 23.71 0.11 2.63 19.95 0.59 3.72 29.18 0.26 0.95 11.02 1.63 1.71 10.08 0.98 2.65 22.19 0.45 2.94 6.35 0.47 15.37 30.69 0.40 12.17 19.85 0.29 5.63 17.68 0.43 (1.62) (5.39) 1.16 9.84 17.14 0.44 5.23 8.02 11.12 18.95 0.16 5.19 6.78 0.13 4.52 15.11 1.16 20.07 22.85 0.01 14.66 21.63 4.79 15.37 1.23 18.16 24.94 0.07 4.10 10.10 0.61 49.17 #N/A N/A #VALUE! 12.83 15.44 15.40 23.09 0.07 17.66 32.86 0.41 17.03 29.65 0.01 4.08 25.07 0.77 14.23 36.08 0.46 33.28 49.24 0.00 18.45 26.70 0.20 8.14 23.92 0.56 6.18 17.82 1.14 7.91 38.63 3.25 11.27 23.94 0.31 10.44 18.46 0.12 37.26 96.71 0.23 4.29 16.60 0.41 4.06 16.77 0.68

EAT 1 Year Fair Value Growth (%) (25.26) 26,850 91.88 3,195 (328,068.05) 1,230 (0.92) 5,150 (86.04) 895 (0.02) 7,525 (27.08) 600 20.54 13,125 28.50 6,400 11.08 12,500 0.22 1,185 0.74 3,885 17.41 11,775 (53.61) 2,045 109.28 2,030 (5.89) 4,475 65.13 1,330 (62.68) 6,425 7.85 66,975 (68.21) 1,420 1.71 12,350 (514,285.71) 4,605 (23.43) 7,950 5.25 26,050 (46.32) 22,350 (16.70) 7,250 10.81 1,775 16.05 1,230 49.20 17,850 (31.22) 2,180 1.33 2,815 8.98 6,450 (34.83) 13,700 35.85 3,230 51.45 545 (28.48) 3,620 10.82 17,625 33.00 1,640 15.45 1,465 43.91 9,250 10.15 2,960 (16.34) 20,575 10.65 29,650 19.20 3,240 0.15 1,115

Up-Side Recommendation (Down-Side) (%) 8.81 Buy (6.58) Sell 20.00 Buy 13.19 Buy (13.94) Sell 4.15 Hold 5.26 Buy (0.57) Sell 6.22 Buy 7.76 Buy (2.87) Sell (15.54) Sell 9.03 Buy 44.52 Buy 5.45 Buy 18.23 Buy (3.97) Sell 33.30 Buy 5.14 Buy (17.92) Sell (6.08) Sell 30.08 Buy 6.35 Buy 5.15 Buy 44.19 Buy 3.57 Hold (1.93) Sell 20.00 Buy 20.81 Buy 12.95 Buy 11.71 Buy 9.32 Buy 10.93 Buy (8.76) Sell 0.93 Hold 6.63 Buy 8.63 Buy 4.46 Hold 22.08 Buy (1.60) Sell 4.41 Hold 21.93 Buy (8.70) Sell (9.37) Sell (20.64) Sell

Market Cap (Tn) 38.86 6.16 32.79 17.81 9.92 292.49 11.20 325.45 112.36 286.16 12.89 44.09 252.00 20.09 35.37 62.07 21.00 41.14 122.56 4.68 76.68 35.17 65.63 91.20 17.51 47.60 84.84 23.65 43.11 13.17 35.98 143.02 28.46 17.14 26.01 49.64 96.24 22.65 2.57 45.09 285.77 62.95 247.78 21.98 13.67

OSO SECURITIES



Technical Analysis (LQ 45) Ticker JCI AALI ADHI ADRO AKRA ANTM ASII ASRI BBCA BBNI BBRI BBTN BDMN BMRI BMTR BSDE CPIN CTRA EXCL GGRM HRUM ICBP INCO INDF INTP ITMG JSMR KLBF LPKR LPPF LSIP MNCN PGAS PTBA PTPP PWON SCMA SMGR SMRA TAXI TBIG TLKM UNTR UNVR WIKA WSKT

Last 5,220 24,675 3,420 1,025 4,550 1,040 7,225 570 13,200 6,025 11,600 1,220 4,600 10,800 1,415 1,925 3,785 1,385 4,820 63,700 1,730 13,150 3,540 7,475 24,775 15,500 7,000 1,810 1,025 14,775 1,930 2,520 5,900 12,350 3,540 540 3,395 16,225 1,570 1,200 9,400 2,835 16,875 32,475 3,575 1,405

Open

High

5,230 24,600 3,550 1,050 4,500 1,040 7,350 575 13,150 6,075 11,600 1,220 4,550 10,850 1,420 1,875 3,780 1,320 4,750 61,000 1,720 13,100 3,590 7,400 24,750 15,900 6,975 1,805 1,025 14,900 1,910 2,540 5,950 12,325 3,590 540 3,400 16,250 1,570 1,200 9,625 2,850 17,350 32,475 3,680 1,465

5,234 24,700 3,550 1,050 4,575 1,050 7,375 580 13,200 6,075 11,700 1,225 4,610 10,850 1,435 1,940 3,800 1,390 4,910 63,800 1,735 13,200 3,590 7,500 24,800 16,225 7,050 1,830 1,040 15,050 1,930 2,570 5,975 12,375 3,590 545 3,455 16,325 1,595 1,205 9,625 2,850 17,350 32,525 3,700 1,470

Low 5,206 24,350 3,405 1,015 4,430 1,030 7,225 560 13,125 6,000 11,575 1,205 4,545 10,750 1,410 1,870 3,765 1,310 4,750 60,400 1,695 12,600 3,535 7,225 24,250 15,325 6,925 1,805 1,015 14,700 1,900 2,470 5,900 12,200 3,505 525 3,340 16,150 1,570 1,160 9,300 2,820 16,850 32,275 3,565 1,405

Year-to-Date (YtD%) -0.13% 1.75% -1.72% -1.44% 10.44% -2.35% -2.69% 1.79% 0.57% -1.23% -0.43% 1.24% 1.66% 0.23% -0.70% 6.65% 0.13% 10.80% -0.92% 4.94% 4.22% 0.38% -2.34% 10.74% -0.90% 0.81% -0.71% -1.09% 0.49% -1.50% 2.12% -0.79% -1.67% -1.20% -0.98% 4.85% -3.00% 0.15% 3.29% 2.56% -3.09% -1.05% -2.74% 0.54% -2.85% -4.42%

MA5

RSI Rec

Negatif Negatif Negatif Positif Negatif Negatif Negatif Negatif Negatif Negatif Positif Negatif Negatif Negatif Negatif Negatif Negatif Negatif Negatif Negatif Negatif Negatif Positif Negatif Negatif Positif Negatif Negatif Negatif Negatif Negatif Negatif Negatif Positif Negatif Positif Negatif Negatif Positif Negatif Positif Negatif Positif Negatif Negatif Negatif

OverBought OverBought Strong Sell Trading Trading OverBought OverBought OverBought Trading Trading Trading OverBought OverBought Trading Oversold OverBought Trading OverBought Trading OverBought Trading OverBought Oversold OverBought Trading Oversold OverBought Trading Trading Trading Trading OverBought Trading Trading OverBought OverBought Trading Trading Trading Trading Trading Trading Trading OverBought OverBought OverBought

MACD Trend Positif Positif Positif Negatif Negatif Positif Positif Negatif Positif Positif Negatif Positif Positif Positif Positif Negatif Negatif Negatif Positif Positif Negatif Positif Negatif Positif Positif Positif Positif Positif Negatif Negatif Negatif Positif Positif Negatif Positif Positif Positif Negatif Negatif Positif Negatif Positif Positif Positif Positif Positif

Bollinger Band Pivot Point Lower Middle Upper 5,046 5,148 5,250 5,222 22,325 23,500 24,650 24,575 2,685 3,085 3,485 3,480 1,005 1,065 1,125 1,035 4,035 4,420 4,800 4,515 910 995 1,080 1,040 6,875 7,150 7,425 7,300 505 560 615 570 12,900 13,150 13,425 13,175 5,825 6,050 6,275 6,050 11,200 11,525 11,825 11,625 1,125 1,180 1,230 1,220 4,265 4,420 4,575 4,575 10,400 10,650 10,900 10,825 1,370 1,455 1,540 1,420 1,705 1,805 1,900 1,905 3,595 3,900 4,210 3,785 1,185 1,280 1,370 1,350 4,600 4,880 5,150 4,810 58,350 59,850 61,350 62,225 1,640 1,695 1,750 1,720 10,975 11,975 13,000 13,025 3,495 3,820 4,145 3,565 6,225 6,625 7,025 7,400 23,475 24,725 26,000 24,650 14,200 16,425 18,625 15,750 6,750 6,925 7,100 7,000 1,715 1,790 1,860 1,815 935 1,075 1,210 1,025 14,000 14,950 15,900 14,850 1,845 1,930 2,010 1,920 2,205 2,420 2,640 2,525 5,800 5,950 6,075 5,925 12,225 12,900 13,575 12,325 3,065 3,340 3,620 3,555 479 515 545 540 3,210 3,375 3,540 3,400 15,500 16,200 16,900 16,250 1,475 1,540 1,605 1,575 1,065 1,160 1,255 1,190 9,375 9,600 9,825 9,500 2,750 2,820 2,895 2,840 16,700 17,325 17,925 17,100 30,525 31,450 32,375 32,450 2,975 3,335 3,690 3,630 1,020 1,270 1,525 1,435

Support 1 2 5,211 5,195 24,475 24,225 3,415 3,335 1,020 1,000 4,455 4,370 1,030 1,020 7,225 7,150 565 550 13,150 13,100 6,025 5,975 11,550 11,500 1,210 1,200 4,545 4,510 10,775 10,725 1,405 1,395 1,865 1,835 3,765 3,750 1,315 1,270 4,705 4,650 60,650 58,825 1,705 1,680 12,825 12,425 3,540 3,510 7,300 7,125 24,500 24,100 15,250 14,850 6,925 6,875 1,795 1,790 1,015 1,000 14,675 14,500 1,905 1,890 2,480 2,425 5,900 5,850 12,250 12,150 3,525 3,470 530 520 3,340 3,285 16,150 16,075 1,560 1,550 1,180 1,145 9,350 9,175 2,830 2,810 16,875 16,600 32,350 32,200 3,560 3,495 1,405 1,370

Resistance Stop Loss Level 1 2 5,239 5,250 5,117 24,825 24,925 23,875 3,560 3,625 3,285 1,055 1,070 985 4,600 4,660 4,305 1,050 1,060 1,005 7,375 7,450 7,025 585 590 545 13,225 13,250 12,900 6,100 6,125 5,875 11,675 11,750 11,325 1,230 1,240 1,180 4,610 4,640 4,445 10,875 10,925 10,550 1,430 1,445 1,375 1,935 1,975 1,805 3,800 3,820 3,690 1,395 1,430 1,250 4,865 4,970 4,580 64,050 65,625 57,950 1,745 1,760 1,655 13,425 13,625 12,225 3,595 3,620 3,455 7,575 7,675 7,025 25,050 25,200 23,725 16,150 16,650 14,625 7,050 7,125 6,750 1,820 1,840 1,760 1,040 1,050 985 15,025 15,200 14,300 1,935 1,950 1,860 2,580 2,625 2,390 5,975 6,000 5,775 12,425 12,500 11,950 3,610 3,640 3,420 550 560 510 3,455 3,515 3,235 16,325 16,425 15,825 1,585 1,600 1,530 1,225 1,235 1,130 9,675 9,825 9,025 2,860 2,870 2,765 17,375 17,600 16,350 32,600 32,700 31,700 3,695 3,765 3,445 1,470 1,500 1,350

Recommendation Sell Sell Sell Hold Sell Sell Sell Strong Sell Hold Hold Hold Sell Sell Hold Speculative Buy Strong Sell Sell Strong Sell Hold Sell Sell Sell Speculative Buy Sell Hold Buy Sell Hold Sell Sell Sell Sell Hold Hold Sell Hold Hold Sell Hold Hold Hold Hold Speculative Buy Sell Sell Sell

OSO SECURITIES



Economic Calendar Date 05-Jan-15 05-Jan-15 05-Jan-15 05-Jan-15 05-Jan-15 05-Jan-15 06-Jan-15 06-Jan-15 06-Jan-15 06-Jan-15 06-Jan-15 06-Jan-15 06-Jan-15 06-Jan-15 06-Jan-15 06-Jan-15 06-Jan-15 06-Jan-15 06-Jan-15 06-Jan-15 07-Jan-15 07-Jan-15 07-Jan-15 07-Jan-15 07-Jan-15 07-Jan-15 07-Jan-15 07-Jan-15 07-Jan-15 07-Jan-15 07-Jan-15 07-Jan-15 07-Jan-15 08-Jan-15 08-Jan-15 08-Jan-15 08-Jan-15 08-Jan-15 08-Jan-15 08-Jan-15 08-Jan-15 08-Jan-15 08-Jan-15 08-Jan-15 08-Jan-15 08-Jan-15 08-Jan-15 08-Jan-15 08-Jan-15 08-Jan-15 08-Jan-15 08-Jan-15 09-Jan-15 09-Jan-15 09-Jan-15 09-Jan-15 09-Jan-15 09-Jan-15 09-Jan-15 09-Jan-15 09-Jan-15 09-Jan-15 09-Jan-15 09-Jan-15 09-Jan-15 09-Jan-15 09-Jan-15 09-Jan-15 09-Jan-15 09-Jan-15 09-Jan-15 09-Jan-15 09-Jan-15 09-Jan-15 09-Jan-15

Agenda Japan Markit/JMMA Manufacturing PMI Final Indonesia Consumer Confidence UK Construction PMI Germany Inflation Rate YoY Prel Germany Inflation Rate MoM Prel US ISM New York Index US Total Vehicle Sales Japan Markit Services PMI China HSBC China Services PMI France Markit Comp PMI Final Germany Markit Comp PMI Final Euro Area Markit Comp PMI Final Euro Area Markit Services PMI Final UK Markit/CIPS UK Services PMI US Markit Composite PMI Final US Markit Services PMI Final US Factory orders ex transportation MoM US IBD/TIPP Economic Optimism US Factory Orders MoM US ISM Non-Manufacturing PMI Indonesia Retail Sales YoY Germany Retail Sales MoM Germany Retail Sales YoY Germany Unemployment Change Italy Unemployment Rate Euro Area Core Inflation Rate YoY Flash Euro Area Inflation Rate YoY Flash Euro Area Unemployment Rate Italy Inflation Rate YoY Prel Italy Inflation Rate MoM Prel US ADP Employment Change US Balance of Trade US EIA Crude Oil Stocks Change Japan Foreign Bond Investment Japan Stock Investment by Foreigners China Balance of Trade China Exports YoY China Imports YoY Germany Factory Orders MoM Spanyol Business Confidence Euro Area Business Confidence Euro Area Consumer Confidence Final Euro Area Economic sentiment Euro Area Industrial Sentiment Euro Area Retail Sales MoM Euro Area Retail Sales YoY France Retail Sales YoY UK BOE Quantitative Easing UK BoE Interest Rate Decision US Challenger Job Cuts US Continuing Jobless Claims US Initial Jobless Claims Japan Foreign Exchange Reserves China Inflation Rate YoY China Inflation Rate MoM Japan Leading Composite Index Prel Germany Balance of Trade Germany Current Account Germany Industrial Production YoY Germany Industrial Production MoM France Balance of Trade France Industrial Production YoY France Industrial Production MoM Spanyol Industrial Production YoY UK Balance of Trade UK Manufacturing Production MoM UK Industrial Production YoY UK Industrial Production MoM UK Manufacturing Production YoY US Government Payrolls US Participation Rate US Manufacturing Payrolls US Non Farm Payrolls US Nonfarm Payrolls - Private US Unemployment Rate

Sumber :Trading economic & Bloomberg

Country JPY IDR GBP EUR EUR USD USD JPY CNY EUR EUR EUR EUR GBP USD USD USD USD USD USD IDR EUR EUR EUR EUR EUR EUR EUR EUR EUR USD USD USD JPY JPY CNY CNY CNY EUR EUR EUR EUR EUR EUR EUR EUR EUR GBP GBP USD USD USD JPY CNY CNY JPY EUR EUR EUR EUR EUR EUR EUR EUR GBP GBP GBP GBP GBP USD USD USD USD USD USD

Actual 52 116.5 57.6 0.20% 0.00% 70.8 16.92M

Prior 52 120.10 59.4 0.6% 0.0% 62.4 17.2M 50.6 53.0 47.9 51.7 51.1 51.1 58.6 56.1 56.2 -1.4% 48.4 -0.7% 59.3 17.6% 1.9% 1.7% -14K 13.2% 0.7% 0.3% 11.5% 0.2% -0.2% 208K $-43.4B -1.754M ¥ -1,362.3B ¥ 387.1B $54.5B 4.7% -6.7% 2.5% -5.2 0.18 -10.9 100.7 -5.1 0.4% 1.4% 0.9% 375B 0.5% 35.95K 2353K 298K $ 1269M 1.4% -0.2% 104.5 € 21.9B € 23.1B 0.8% 0.2% € -4.6B -1.0% -0.8% 1.2% -9.62B -0.7% 1.1% -0.1% 1.7% 7 62.8% 28K 321K 314K 5.8%

Concensus 52.1 58.5 0.4% 0.1% 16.9M

49.1 51.2 51.7 51.9 58.7 53.8 53.6

0.8% 58 0.0% -5K

-0.1% 11.5%

240K $ -42

-0.8%

0.5% 2370K 290K

â‚¬20.4B

0.4%

0.2% -9.4B 0.2% 1.6% 0.2% 2.2%

15K 243K 243K 5.7%

OSO SECURITIES



DIVIDEN No Name 1 BFI FINANCE INDONESIA Tbk 2 BENAKAT INTEGRA Tbk

Code BFIN BIPI

Cum- Date 2-Jan-15 13-Jan-15

Ex-Date Pay -Date Ammount (IDR) 5-Jan-15 15-Jan-15 138.00 14-Jan-15 30-Jan-15 1.00

RUPS

Code MBAP ROTI MAGP SCPI BTPN CNKO KOPI DAJK JTPE WOMF KARW BBNP SMGR SSMS DVLA MGNA ISAT ACST AKSI CMNP DNET

Agenda RUPS RUPS RUPS RUPS RUPS RUPS RUPS RUPS RUPS RUPS RUPS RUPS RUPS RUPS RUPS RUPS RUPS RUPS RUPS RUPS RUPS

Date 9-Jan-15 12-Jan-15 12-Jan-15 14-Jan-15 15-Jan-15 15-Jan-15 15-Jan-15 21-Jan-15 21-Jan-15 21-Jan-15 23-Jan-15 23-Jan-15 23-Jan-15 24-Jan-15 26-Jan-15 26-Jan-15 28-Jan-15 28-Jan-15 28-Jan-15 30-Jan-15 17-Feb-15

Time Place 14.00 Merlynn Park Hotel Guangzhou Meeting Room 6th Floor Jl. KH. Hasyim Azhari No. 29-31 Jakarta Pusat 10.00 Krakatau Room - Hotel Grand Hyatt Jl. MH. Thamrin, Kav. No. 29-30 Jakarta 10350 10.00 PT Merck Sharp Dohme Pharma Tbk Wisma BNI 46, lantai 27 Jl. Jend. Sudirman Kav. 1 Jakarta 10.00 Ballroom 3 & 5, Lantai 2 The Ritz-Carlton Jakarta, Mega Kuningan Jl. DR. Ide Anak Agung Gde Agung Kav. E.1.1 No. 1, Mega Kuningan - Jakarta 12950 14.00 Ruang Jasmin Lantai Dasar Hotel Diraja Jl. Tendean No. 38 Mampang, Jakarta Selatan 10.00 The SUN Hotel,Ruang Saturnus III Jl. Pahlawan No.01 Sidoarjo 16.00 Function Room, Sentral Senayan III Lantai 28 Jl. Asia Afrika No. 8 Senayan Gelora Bung Karno Jakarta 10270 10.00 Graha Kirana Lantai 7, Ruang 701 Jalan Yos Sudarso No.88, Jakarta Utara 14350 11.00 Gedung Kantor Pusat PT Bank Nusantara Parahyangan Tbk lt. 3 Jl. Ir. H. Juanda No. 95 Bandung - 40132 13.00 Balai Kartini Jl. Gatot Subroto Kav. 37 Jakarta 12950 9.00 Hotel Gran Mahakam Ruang Gardenia, Lobby Level Jalan Mahakam I No. 6, Blok M Jakarta 12130 10.00 Auditorium lantai 4, Gedung Indosat Jl. Medan Merdeka Barat No. 21 Jakarta 10110 14.00 Graha CIMB Niaga, Financial Club Lantai 28 Jl. Jend. Sudirman Kav. 58 Jakarta 12190

14.00 Ruang Seminar BEI Gedung Bursa Efek Jakarta Tower II Lantai 1 Jl. Jend. Sudirman Kav. 52-53 Jakarta 12190

OSO SECURITIES



RESEARCH TEAM Supriyadi ([email protected]) Andri Goklas ([email protected]) Fanny Suherman ([email protected]) Mohammad Alfi Syahr ([email protected])

Head of Research

+62 21 2991 5300

Research Analyst

+62 21 2991 5300

Research Analyst

+62 21 2991 5300

Research Analyst

+62 21 2991 5300

HEAD OFFICE

Cyber 2 Tower, 22nd Floor Jl. HR. Rasuna Said Blok X-5 No. 13 Jakarta Selatan 12950 Tel: +62-21-299-15-300 Fax : +62-21-290-21-497 BRANCHES Semarang Jl. Dr. Cipto No. 96 C - D Semarang, Jawa Tengah Tel: 024 - 3575511

Yogyakarta Galeri Investasi UIN Sunan Kalijaga Jl. Marsda Adisucipto Yogyakarta 55281 Tel: +62-274 55 31 63 Fax: +62-274 55 31 63

Akastiebi STIE Bisnis Indonesia Kampus Kebayoran AKA Building Jl. Bangka Raya No.2 Kebayoran Baru Jakarta Selatan Tel: +62-21 717 945 52 (General) Fax: +62 –21 717 944 65

Solo Solo Centre Point Jl. SlametRiyadi 373, Ruko A7B, Purwosari, Solo JawaTengah Tel: +62-271 717 909 Fax: +62-271 710 689

Bandung Grand Royal Panghegar lnt 2,10-11 JL. Merdeka No 2 Bandung, Jawa Barat Tel: +62-22 424 0269 (General) Fax +62-22 424 0279

Surabaya Jl. Dr. Sutomo No. 97C Fl. 5th,Surabaya JawaTimur Tel: +62-31 563 0234 (Hunting) Fax: +62-31 5630 26

Bali Shopping Archade A-4 JL. PantaiKuta The Stones Hotel Bali, Indonesia Tel: 0361-754020, 0361-757037 Fax : 0361–754779

Jember Jember Business Centre (JBC) Jl. Trunojoyo No. 26 Blok A-8, Jember JawaTimur Tel: +62-331 421050 (Hunting) Fax: +62-331 420320

Medan Mandiri Building Fl. VII Jl. Imam Bonjol No. 16 D Medan, Sumatera Utara Tel: +62-614539955 Fax: +62-614529427

Makasar Jl. Pengayoman no.118 (sampingcarefour) Makassar, Sulawesi Selatan Tel: 0411 - 439 050 Fax. 0411 - 431 373

Malang Ruko Borobudur Bisnis Center Jl. Terusan Borobudur Kav. 5 Malang, JawaTimur Tel: 0341 - 407771

DISCLAIMER This report has been prepared by PT OSO Securities on behalf of itself and its affiliated companies and is provided for information purposes only. Under no circumstance.is it to be used or considered as an offer to sell, or a solicitation of any offer to buy. This report has been produced independently and the forecasts, opinions and expectations contained herein are entirely those of PT. OSO Securities. We expressly disclaim any responsibility or liability (express or implied) of PT. OSO Securities, its affiliated companies and their respective employees and agents whatsoever and howsoever arising (including, without limitation for any claims, proceedings, action , suits, losses, expenses, damages or costs) which may be brought against or suffered by any person as a results of acting in reliance upon the whole or any part of the contents of this report and neither PT. OSO Securities, its affiliated companiesor their respective employees or agents accepts liability for any errors, omissions or mis-statements, negligent or otherwise, in the report and any liability in respect of the report or any inaccuracy therein or omission there from which might otherwise arise is hereby expresses disclaimed. The information contained in this report is not be taken as any recommendation made by PT. OSO Securities or any other person to enter into any agreement with regard to any investment mentioned in this document. This report is prepared for general circulation. It does not have regards tothe specific person who may receive this report. In considering any investments you should make your own independent assessment and seek your own professional financial and legal advice.

OSO SECURITIES. OSO Daily 06 Januari 2015 JCI 5, %

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