OSO SECURITIES. OSO Daily 15 Januari 2015 JCI 5, %

OSO SECURITIES

OSO Daily 15 Januari 2015

MEMBER OF INDONESIA STOCK EXCHANGE

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JCI 5,159.66 Previous 5,214.35 Highest 5,225.02 Volbn 7.62 NetForg 1DIDRbn (623.23) Return YTD (%) (1.29) 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 2,331.34 MINING 1,327.61 MISC INDUSTRY 1,262.94 BASIC INDUSTRY 541.50 CONSUMER GOODS 2,191.45 PROPERTY 536.95 INFRASTRUKTUR 1,140.97 FINANCE 731.73 MANUFAKTURE 1,326.41 TRADE 894.02 LQ 45 897.55 SRI-KEHATI 298.33 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)

-54.69

-1.04%

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

Chg%

5,159.66 5,565.64 5,163.51 (891.94) (1.29) YTD%

17,427.09 2,011.27 4,639.32 26.40

(1.06) (0.58) (0.48) (1.12)

(2.22) (2.31) (2.04) (3.79)

6,388.46 4,223.24 9,817.08

(2.35) (1.56) (1.25)

(2.71) (1.16) 0.12

16,795.96 3,222.44 9,180.23 1,913.66 1,742.01 3,329.64 27,347.96 24,112.60 Last 2,284.45 1,307.78 1,244.60 535.51 2,174.14 530.07 1,129.61 727.71 1,312.67 879.61 886.94 295.41 Last 48.15 14,310.00 19,375.00 1,227.74 5,548.00 2,361.00 61.80 Last 12,614 10,262 14,876 9,452 108 19,148 CB Rate (%) 0.25 0.05 0.50 0.10 5.60 Last 5.82 7.56 7.82 8.36 2.46 7.75 5.01 111.86

(1.71) (0.40) (0.56) (0.18) (0.39) (0.34) (0.28) (0.43) Chg% (2.01) (1.49) (1.45) (1.11) (0.79) (1.28) (1.00) (0.55) (1.04) (1.61) (1.18) (0.98) Chg% (0.68) (2.32) (0.77) (0.08) (5.32) (0.59) (0.96) Chg% (0.10) 0.29 0.14 (0.20) (1.48) (0.48) CPI YoY (%) 1.30 0.30 1.00 2.90 1.40 Chg% 0.00 (0.36) 0.03

(3.75) (0.38) (1.36) (0.10) (1.09) (1.06) (0.55) 2.15 YTD% (2.83) (4.47) (4.78) (1.50) (0.17) 0.98 (2.64) (0.54) (1.69) 0.11 (1.30) (1.39) YTD% (9.61) (5.54) (0.13) 3.62 (11.94) 3.06 (1.98) YTD% (1.79) (1.09) 1.26 (0.81) (4.13) 0.73 GDP YoY (%) 2.40 0.80 3.00 (1.30) 7.30 YTD% (1.47) (1.87) 0.33

NAV/Unit 1,023.21 1,048.13 911.93

1 Mth (%) (1.10) (0.10) (9.75)

Sumber : Bloomberg

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

Market Review Kemarin (14/01) IHSG ditutup koreksi tajam. IHSG melemah 1.04% atau turun 54.69 poin ke level 5,159.66. IHSG tekena aksi profit taking akibat sentimen harga minyak yang terus mengalami penurunan. Selain itu, investor menunggu rilisnya BI rate pada pekan ini yang di perkirakan masih tetap di pertahankan oleh Bank Indonesia. Seluruh sektor mengalami pelemahan dengan sektor agrikulture yang mengalami pelemahan terdalam. Investor asing mencatatkan net sell sebesar Rp623 miliar. Global Market Pada perdagangan semalam, bursa Wall Street ditutup kembali mengalami pelemahan selama empat hari berturut-turut, dimana Indkes Dow Jones turun 1.06% ke level 17,427.09, Indeks S&P 500 turun 0.58% ke level 2,011.27 dan Indeks Nasdaq turun 0.48% ke level 4,639.32. Pelemahan seiring dengan rilisnya data penjualan ritel AS yang mengalami penurunan -0.9% mom dari sebelumnya 0.4% mom. Di samping itu, bank dunia juga memangkas pertumbuhan ekonomi global tahun 2015 dan 2016 membuat tekanan pada pergerakan bursa saham global. JCI Prediction Hari ini kami perkirakan IHSG bergerak variatif dengan kecenderungan melemah. Secara teknikal IHSG membentuk candle menyerupai bearish engulfing dan berada di atas area middle bollinger dimana indikator MACD bergerak mendatar dengan histogram negatif, sedangkan indikator Stochastic berada pada area overbought. Kami perkirakan IHSG akan bergerak pada kisaran 5,115 - 5,207.

Highlight News

       

Pendapatan MAPI Berpeluang Tumbuh 22% YoY GIC Lepas 4.9% Saham PWON MYOR Bidik Omzet Rp 15.5 Triliun Penjualan Semen SMGR Hanya Tumbuh 3.2% WINS Siapkan Capex US$ 50 Juta Pemerintah Suntik 4 Emiten BUMN Rp 18.6 Triliun TLKM Batalkan Akuisisi Operator Selandia Baru Pada 2015, ACES Targetkan Penjualan Naik Menjadi Rp 5.3 Triliun

OSO SECURITIES MEMBER OF INDONESIA STOCK EXCHANGE


Today News 

Pendapatan MAPI Berpeluang Tumbuh 22% YoY PT Mitra Adiperkasa Tbk (MAPI) berpeluang membukukan pendapatan Rp 11,8 triliun atau naik 22% YoY. Kenaikan pendapatan MAPI ini merupakan berkat penambahan gerai dimana pada tahun lalu, MAPI telah membuka 93 outlet baru dengan total luas 18.700 m². Dan pada dua bulan terakhir, MAPI telah membuka 41 outlet baru. Sumber: Kontan

 GIC Lepas 4.9% Saham PWON Salah satu pemegang saham PT Pakuwon Jati Tbk (PWON), GIC S/A Goverment of Singapore, telah melepas kepemilikan di PWON. Hingga 31 Desember 2014, GIC memiliki 5,42% saham PWON setara dengan 2,61 miliar saham. Pada transaksi negosiasi yang terjadi pada 13 Januari 2015, hanya melibatkan 2,39 miliar saham atau setara 4,9% saham PWON. Harga transaksi tersebut di Rp 478 per saham. Sepanjang 2014, hasil pra penjualan atau marketing sales PWON Rp 3,1 triliun atau 5% lebih tinggi dari target Rp 3 triliun. Tahun ini, PWON optimistis bisa mengantongi marketing sales Rp 3,4 triliun, meningkat 9,6% dari raihan tahun lalu. Untuk memuluskan proyek tahun ini, PWON menganggarkan capex Rp 2,5 triliun. Sumber: Kontan 

MYOR Bidik Omzet Rp 15.5 Triliun PT Mayora Indah Tbk (MYOR) menargetkan jumlah penjualan Rp15,5 triliun pada tahun ini atau tumbuh sekitar 12% YoY. Sementara untuk laba bersih 2015, Perseroan mematok capaian hingga Rp600 miliar. Adapun jumlah belanja modal Perseroan pada tahun ini diperkirakan mencapai US$50 juta. Untuk saat ini, MYOR tidak berencana menerbitkan obligasi, dan melakukan penambahan pabrik baru. Pabrik terakhir yang telah selesai dikembangkan terletak di Balaraja, dan saat ini telah berproduksi. Sumber: Bisnis Indonesia

 Penjualan Semen SMGR Hanya Tumbuh 3.2% PT Semen Indonesia Tbk (SMGR) membukukan penjualan pada periode Januari-Desember 2014 sebanyak 26,35 juta ton atau naik 3,2% YoY. Tekanan terdalam terjadi pada ekspor produk semen pada periode 2014 yang merosot 38,6% YoY dan penjualan domestik tercatat meningkat 3,7% YoY. Sumber: Bisnis Indonesia 

WINS Siapkan Capex US$ 50 Juta PT Wintermar Offshore Marine Tbk (WINS) menganggarkan belanja modal pada tahun ini senilai US$50 juta atau setara dengan Rp625 miliar. Belanja modal tersebut akan digunakan untuk pembelian kapal sebanyak empat unit. Per September 2014, WINS meraup pendapatan sebesar US$131,47 juta atau mengalami penurunan 4% YoY dan laba bersih yang diraup WINS mencapai US$17,96 juta atau turun 5% YoY. Sumber: Bisnis Indonesia



Pemerintah Suntik 4 Emiten BUMN Rp 18.6 Triliun Pemerintah akan menyuntik modal melalui rights issue kepada empat emiten pelat merah senilai total Rp18,6 triliun. Keempat emiten BUMN tersebut di antaranya PT Adhi Karya Tbk (ADHI), PT Aneka Tambang Tbk (ANTM), PT Bank Mandiri Tbk (BMRI), dan PT Waskita Karya Tbk (WSKT). Rincian penyertaan modal negara (PMN) untuk masing-masing emiten BUMN melalui mekanisme rights issue tersebut adalah ADHI sebesar Rp2 triliun, ANTM sebesar Rp7 triliun, BMRI senilai Rp5,6 triliun, dan WSKT senilai Rp3 triliun. Sumber: Bisnis Indonesia

OSO SECURITIES MEMBER OF INDONESIA STOCK EXCHANGE




TLKM Batalkan Akuisisi Operator Selandia Baru Setelah membatalkan rencana akuisisi saham atas Two Degrees Mobile Ltd (2degrees), operator telekomunikasi di Selandia Baru sebesar 25% hingga 30%, PT Telekomunikasi Indonesia Tbk (TLKM) akan mencoba untuk akuisisi beberapa operator lain di Asia serta Timur Tengah. Sumber: Vibiznews.com



Pada 2015, ACES Targetkan Penjualan Naik Menjadi Rp 5.3 Triliun PT Ace Hardware Tbk (ACES) targetkan meningkatkan penjualan Rp 5.3 triliun atau naik 14.5% YoY pada 2015. Peningkatan kinerja akan dikontribusi dari perluasan jaringan. Perseroan anggarkan capex untuk membuka 10-15 gerai pada tahun ini. Per kuartal III-2014, Perseroan bukukan pendapatan naik 20% YoY. Sumber: Vibiznews.com

OSO SECURITIES



Trading Idea ITMG Rp. 14975 Saham ini hampir break minor downtrend dimana indikator ROC dan MACD masih bergerak menguat dan stochastic baru membentuk golden cross.

Recommendation: Buy on Breakout Buy on Breakout untuk ITMG jika break 15000 dengan target price di level 15400 dalam waktu dekat dan akan mencoba menuju 17000 dalam jangka menengah. Support di level 14650 dan cutloss jika break level 14525.

GJTL Rp. 1295 Saham ini telah membentuk pola doji dan hampir crossing MA 45. Indikator RSI hampir crossover MA 10 dan stochastic baru membentuk golden cross.

Recommendation: Buy on Breakout Buy on Breakout untuk GJTL jika break 1325 dengan target price di level 1360 dalam jangka waktu dekat. Support di level 1280 dan cutloss jika break level 1260.

DILD Rp. 635 Saham ini rebound kembali setelah mencoba breakdown MA 45. Hal ini menunjukkan potensi penguatan kembali pada hari ini. Indikator RS masih bergerak uptrend dan stochastic hampir membentuk golden cross.

Recommendation: Speculative Buy Speculative Buy untuk DILD dengan target price di level 645650 dalam waktu dekat. Support di level 625 dan cutloss jika break level 615.

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 P/BV P/E (x) 24,900 3.63 (x) 2015F 14.01 3,465 4.11 16.72 945 0.84 10.70 4,530 3.46 18.33 1,070 0.84 27.63 7,050 3.15 12.95 575 1.93 8.17 12,925 4.27 16.81 6,100 2.03 9.95 11,750 3.18 10.75 1,120 1.00 7.89 4,590 1.37 12.02 10,725 2.58 11.08 1,815 2.26 15.71 1,960 2.44 14.17 3,845 5.79 18.84 1,360 2.96 14.30 4,420 2.70 30.52 59,775 3.62 18.73 1,735 1.23 19.65 12,700 5.47 24.17 3,375 1.44 10.29 7,425 2.57 14.00 24,375 3.86 15.86 14,975 1.38 7.97 7,000 4.80 26.09 1,785 9.51 32.74 1,005 1.57 14.48 14,200 #N/A N/A 21.01 1,940 1.89 11.94 2,765 4.63 17.48 5,450 4.00 12.71 11,200 3.03 12.34 3,685 8.31 25.71 469 4.54 10.95 3,290 15.53 26.89 15,925 4.19 15.14 1,495 4.28 16.65 1,130 2.76 15.12 9,450 10.59 24.49 2,825 4.29 16.70 17,450 1.81 11.07 32,650 45.52 40.51 3,550 5.24 26.55 1,420 5.68 26.16

PEG (0.56) 0.21 (0.00) (27.21) #VALUE! (677.80) (0.50) 0.96 0.39 1.09 43.35 18.85 0.72 (0.69) 0.09 (5.26) 0.27 #VALUE! 2.85 (0.22) 17.76 (0.00) (0.77) 3.34 (0.14) (1.96) 3.75 1.04 0.64 (0.41) 16.12 1.33 (0.33) 1.01 0.28 (1.17) 1.57 0.59 1.07 0.66 1.86 (0.64) 4.40 1.95 248.45

BETA 0.04 2.01 0.27 1.20 0.49 1.37 1.98 1.20 1.71 1.65 1.62 0.62 1.62 1.41 1.39 2.04 2.12 0.65 0.98 0.02 1.32 0.46 1.23 1.17 0.44 0.70 1.31 1.91 1.40 0.21 1.19 1.01 0.42 1.91 1.90 0.82 1.39 2.12 1.19 0.56 1.11 0.70 0.96 1.60 2.17

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) 26,950 91.88 3,405 (328,068.05) 1,215 (0.92) 5,150 (86.04) 985 (0.02) 7,525 (27.08) 600 20.54 13,175 28.50 6,475 11.08 12,675 0.22 1,190 0.74 3,895 17.41 11,900 (53.61) 2,115 109.28 2,050 (5.89) 4,480 65.13 1,350 (62.68) 6,300 7.85 66,975 (68.21) 1,385 1.71 12,600 (514,285.71) 4,605 (23.43) 8,075 5.25 26,200 (46.32) 21,450 (16.70) 7,275 10.81 1,780 16.05 1,230 49.20 17,750 (31.22) 2,195 1.33 2,820 8.98 6,500 (34.83) 13,625 35.85 3,595 51.45 555 (28.48) 3,590 10.82 17,675 33.00 1,655 15.45 1,465 43.91 9,125 10.15 2,985 (16.34) 20,525 10.65 29,750 19.20 3,440 0.15 1,275

Up-Side (Down-Side)8.23 (%) (1.73) 28.57 13.69 (7.94) 6.74 4.35 1.93 6.15 7.87 6.25 (15.14) 10.96 16.53 4.59 16.51 (0.74) 42.53 12.05 (20.17) (0.79) 36.44 8.75 7.49 43.24 3.93 (0.28) 22.39 25.00 13.14 1.99 19.27 21.65 (2.44) 18.34 9.12 10.99 10.70 29.65 (3.44) 5.66 17.62 (8.88) (3.10) (10.21)

Recommendation Buy Sell Buy Buy Sell Buy Hold Hold Buy Buy Buy Sell Buy Buy Hold Buy Sell Buy Buy Sell Sell Buy Buy Buy Buy Hold Sell Buy Buy Buy Hold Buy Buy Sell Buy Buy Buy Buy Buy Sell Buy Buy Sell Sell Sell

Market Cap (Tn) 39.21 6.24 30.23 17.73 10.21 285.41 11.30 318.67 113.76 289.86 11.84 43.99 250.25 25.77 36.01 63.05 20.63 37.72 115.01 4.69 74.05 33.54 65.19 89.73 16.92 47.60 83.67 23.19 41.43 13.24 39.47 132.12 25.81 17.84 22.59 48.11 94.46 21.57 2.42 45.33 284.76 65.09 249.12 21.83 13.81

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 5,160 24,900 3,465 945 4,530 1,070 7,050 575 12,925 6,100 11,750 1,120 4,590 10,725 1,815 1,960 3,845 1,360 4,420 59,775 1,735 12,700 3,375 7,425 24,375 14,975 7,000 1,785 1,005 14,200 1,940 2,765 5,450 11,200 3,685 469 3,290 15,925 1,495 1,130 9,450 2,825 17,450 32,650 3,550 1,420

Open

High

5,217 26,000 3,585 955 4,530 1,075 7,125 590 13,025 6,150 11,775 1,165 4,650 10,825 2,010 1,980 3,900 1,415 4,425 60,000 1,730 12,725 3,505 7,425 24,750 14,850 7,075 1,810 1,025 14,750 2,000 2,885 5,600 11,200 3,745 485 3,400 16,200 1,515 1,170 9,425 2,845 17,450 33,225 3,640 1,430

5,225 26,000 3,600 970 4,600 1,100 7,175 595 13,025 6,200 11,900 1,170 4,660 11,000 2,010 1,990 3,940 1,415 4,485 60,750 1,740 12,800 3,525 7,450 24,800 15,675 7,100 1,810 1,040 14,750 2,010 2,885 5,625 11,625 3,790 485 3,420 16,200 1,535 1,175 9,500 2,845 17,700 33,250 3,660 1,445

Low 5,160 24,900 3,435 945 4,530 1,070 7,050 570 12,925 6,100 11,750 1,120 4,590 10,725 1,815 1,960 3,845 1,350 4,400 59,675 1,730 12,650 3,375 7,400 24,375 14,775 6,975 1,785 1,000 14,125 1,930 2,765 5,425 11,200 3,640 468 3,290 15,925 1,470 1,125 9,425 2,825 17,425 32,650 3,545 1,410

Year-to-Date (YtD%) -1.29% 2.68% -0.43% -9.13% 9.95% 0.47% -5.05% 2.68% -1.52% 0.00% 0.86% -7.05% 1.44% -0.46% 27.37% 8.59% 1.72% 8.80% -9.15% -1.52% 4.52% -3.05% -6.90% 10.00% -2.50% -2.60% -0.71% -2.46% -1.47% -5.33% 2.65% 8.86% -9.17% -10.40% 3.08% -8.93% -6.00% -1.70% -1.64% -3.42% -2.58% -1.40% 0.58% 1.08% -3.53% -3.40%

MA5

RSI Rec

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

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

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

Bollinger Band Pivot Point Lower Middle Upper 5,046 5,162 5,278 5,190 21,875 24,025 26,175 25,450 2,755 3,280 3,810 3,520 975 1,030 1,085 955 4,035 4,435 4,830 4,550 920 1,030 1,135 1,080 6,925 7,175 7,425 7,100 505 560 610 585 12,825 13,075 13,325 12,975 5,850 6,050 6,225 6,150 11,200 11,625 12,025 11,800 1,155 1,195 1,235 1,145 4,275 4,495 4,710 4,625 10,375 10,725 11,075 10,825 1,205 1,490 1,775 1,915 1,665 1,840 2,015 1,975 3,695 3,805 3,910 3,885 1,150 1,305 1,460 1,385 4,370 4,760 5,150 4,435 57,625 60,425 63,225 60,050 1,655 1,710 1,760 1,735 11,325 12,425 13,525 12,725 3,400 3,670 3,935 3,445 6,075 6,900 7,725 7,425 23,400 24,475 25,525 24,575 14,275 15,350 16,425 15,075 6,800 6,950 7,125 7,050 1,740 1,800 1,855 1,800 960 1,030 1,095 1,020 14,000 14,625 15,250 14,450 1,835 1,930 2,030 1,970 2,280 2,535 2,790 2,825 5,675 5,875 6,075 5,525 11,350 12,450 13,550 11,300 3,155 3,500 3,840 3,715 476 515 555 477 3,215 3,375 3,530 3,350 15,475 16,025 16,550 16,075 1,470 1,550 1,630 1,505 1,130 1,185 1,240 1,150 9,225 9,550 9,875 9,450 2,750 2,820 2,890 2,835 16,725 17,125 17,525 17,500 30,400 32,000 33,575 32,950 3,135 3,485 3,835 3,600 1,165 1,365 1,570 1,425

Support 1 2 5,156 5,125 24,900 24,350 3,445 3,355 940 930 4,495 4,480 1,060 1,050 7,025 6,975 570 560 12,925 12,875 6,075 6,050 11,700 11,650 1,120 1,095 4,585 4,555 10,650 10,550 1,815 1,720 1,955 1,945 3,825 3,790 1,355 1,320 4,380 4,350 59,350 58,975 1,730 1,725 12,650 12,575 3,365 3,295 7,400 7,375 24,350 24,150 14,475 14,175 6,975 6,925 1,785 1,775 995 980 14,175 13,825 1,930 1,890 2,765 2,705 5,425 5,325 11,000 10,875 3,640 3,565 469 460 3,280 3,220 15,925 15,800 1,475 1,440 1,125 1,100 9,400 9,375 2,825 2,815 17,325 17,225 32,650 32,350 3,540 3,485 1,410 1,390

Resistance Stop Loss Level 1 2 5,221 5,256 5,048 26,000 26,550 23,975 3,610 3,685 3,305 965 980 915 4,565 4,620 4,410 1,090 1,110 1,035 7,150 7,225 6,875 595 610 550 13,025 13,075 12,675 6,175 6,250 5,950 11,850 11,950 11,475 1,170 1,195 1,075 4,655 4,695 4,485 10,925 11,100 10,375 2,010 2,110 1,690 1,985 2,005 1,915 3,920 3,980 3,730 1,420 1,450 1,300 4,465 4,520 4,280 60,425 61,125 58,100 1,740 1,745 1,700 12,800 12,875 12,375 3,515 3,595 3,245 7,450 7,475 7,275 24,775 25,000 23,800 15,375 15,975 13,950 7,100 7,175 6,800 1,810 1,825 1,745 1,035 1,060 965 14,800 15,075 13,625 2,010 2,050 1,860 2,885 2,945 2,665 5,625 5,725 5,250 11,425 11,725 10,725 3,790 3,865 3,510 486 494 453 3,410 3,480 3,170 16,200 16,350 15,550 1,540 1,570 1,415 1,175 1,200 1,085 9,475 9,525 9,225 2,845 2,855 2,775 17,600 17,775 16,975 33,250 33,550 31,850 3,655 3,715 3,430 1,445 1,460 1,370

Recommendation Speculative Sell Hold Speculative Hold Sell Hold Sell Hold Hold Hold Hold Sell Hold Sell Sell Speculative Sell Speculative Hold Sell Hold Speculative Sell Hold Speculative Hold Hold Hold Speculative Sell Sell Speculative Speculative Sell Hold Sell Hold Hold Sell Hold Sell Hold Hold Sell Sell

Buy

Buy

Buy Buy

Buy

Buy

Buy

Buy Buy

OSO SECURITIES



Economic Calendar Date 12-Jan-15 13-Jan-15 13-Jan-15 13-Jan-15 13-Jan-15 13-Jan-15 13-Jan-15 13-Jan-15 13-Jan-15 13-Jan-15 13-Jan-15 13-Jan-15 13-Jan-15 13-Jan-15 13-Jan-15 13-Jan-15 13-Jan-15 13-Jan-15 13-Jan-15 14-Jan-15 14-Jan-15 14-Jan-15 14-Jan-15 14-Jan-15 14-Jan-15 14-Jan-15 14-Jan-15 14-Jan-15 14-Jan-15 14-Jan-15 14-Jan-15 14-Jan-15 14-Jan-15 14-Jan-15 14-Jan-15 14-Jan-15 14-Jan-15 15-Jan-15 15-Jan-15 15-Jan-15 15-Jan-15 15-Jan-15 15-Jan-15 15-Jan-15 15-Jan-15 15-Jan-15 15-Jan-15 15-Jan-15 15-Jan-15 15-Jan-15 15-Jan-15 16-Jan-15 16-Jan-15 16-Jan-15 16-Jan-15 16-Jan-15 16-Jan-15 16-Jan-15 16-Jan-15 16-Jan-15 16-Jan-15 16-Jan-15 16-Jan-15 16-Jan-15 16-Jan-15 16-Jan-15 16-Jan-15 16-Jan-15

Agenda US Labor Market Conditions Index Japan Current Account Japan Bank Lending YoY China Exports YoY China Imports YoY China Balance of Trade Japan Eco Watchers Survey Current Japan Eco Watchers Survey Outlook Germany Wholesale price index MoM Italy Industrial Production MoM Italy Industrial Production YoY UK Retail Price Index YoY UK Retail Price Index MoM UK Core Inflation Rate YoY UK Inflation Rate MoM UK Inflation Rate YoY US NFIB Business Optimism Index US JOLTs Job Openings US IBD/TIPP Economic Optimism US Monthly Budget Statement France Current Account France Inflation Rate MoM France Inflation Rate YoY Italy Inflation Rate MoM Final Italy Inflation Rate YoY Final Euro Area Industrial Production YoY Euro Area Industrial Production MoM US MBA Mortgage Applications US Export Price Index MoM US Import Price Index MoM US Export Price Index YoY US Import Price Index YoY US Retail Sales Ex Autos MoM US Retail Sales MoM US Retail Sales YoY US Business Inventories MoM US EIA Crude Oil Stocks Change US Fed's Beige Book Japan Machinery Orders MoM Japan Machinery Orders YoY UK RICS House Price Balance Spanyol Inflation Rate YoY Final Spanyol Inflation Rate MoM Final Germany GDP Growth Rate 2014 Indonesia Interest Rate Decision Euro Area Balance of Trade US NY Empire State Manufacturing Index US Continuing Jobless Claims US Initial Jobless Claims US Philadelphia Fed Manufacturing Index US EIA Natural Gas Stocks Change Japan Tertiary Industry Index MoM Japan Foreign Bond Investment Japan Stock Investment by Foreigners China FDI (YTD) YoY Germany Inflation Rate YoY Final Germany Inflation Rate MoM Final Spanyol Balance of Trade Euro Area Inflation Rate MoM Euro Area Core Inflation Rate YoY Final Euro Area Inflation Rate YoY Final Italy Current Account US Inflation Rate MoM US Inflation Rate YoY US Industrial Production MoM US Industrial Production YoY US Manufacturing Production YoY US Reuters Michigan Consumer Sentiment Prel

Sumber :Trading economic & Bloomberg

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

Actual 6.1 ¥433 2.60% 9.70% -2.40% $49.6B 45.2 46.7 -1.00% 0.30% -1.80% 1.60% 0.20% 1.30% 0.00% 0.50% 100.4 4.972M 51.5 $ 2B

Prior 2.9 ¥833.4B 2.70% 4.70% -6.70% $54.5B 41.5 44 -0.70% 0.0% (R) -3.00% 2% -0.20% 1.20% -0.30% 1.00% 98.1 4.830M (R) 48.4 $ -56.8B € -0.9B -0.20% 0.30% -0.20% 0.20% 0.70% 0.10% 11.10% -1% -1.50% -1.90% -2.30% 0.50% 0.70% 5.10% 0.20% -3.062M -6.40% -4.90% 13 -0.40% -0.10% 0.40% 7.75% € 24B -3.58 2452K 294K 24.3 -131Bcf -0.20% ¥19.7B ¥-40.7B 0.70% 0.60% 0.00% € -2.24B -0.20% 0.70% 0.30% € 5460M -0.30% 1.30% 1.30% 5.20% 4.80% 93.6

Concensus ¥ 133.2B 6.80% -7.40% $49.85B

0.20% 0.10% -2.70% 1.60% 0.10% 0.10% 0.70% 97.9 4.863M 48.3 $ 22.0B 0% 0.00% 0.00% -0.80% 0.00% -1.30% -2.90%

0.10% 0.00% 0.20%

5.00% -5.80% 10 -1.10% -0.60% 1.50%

5 290K 20

0.20% 0.00% -0.10% 0.80% -0.20% -0.40% 0.70% 0.10%

94.1

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 Agenda Date Time Place BTPN RUPS 15-Jan-15 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 CNKO RUPS 15-Jan-15 10.00 Mercantile Center I Lt. 18, Jl. Jend. Sudirman Kav.29-31, Jakarta 12920 KOPI RUPS 15-Jan-15 14.00 Ruang Jasmin Lantai Dasar Hotel Diraja Jl. Tendean No. 38 Mampang, Jakarta Selatan WOMF RUPS 21-Jan-15 16.00 Function Room, Sentral Senayan III Lantai 28 Jl. Asia Afrika No. 8 Senayan Gelora Bung Karno Jakarta 10270 KARW RUPS 23-Jan-15 10.00 Graha Kirana Lantai 7, Ruang 701 Jalan Yos Sudarso No.88, Jakarta Utara 14350 BBNP RUPS 23-Jan-15 11.00 Gedung Kantor Pusat PT Bank Nusantara Parahyangan Tbk lt. 3 Jl. Ir. H. Juanda No. 95 Bandung - 40132 SMGR RUPS 23-Jan-15 13.00 Balai Kartini Jl. Gatot Subroto Kav. 37 Jakarta 12950 SSMS RUPS 24-Jan-15 DVLA RUPS 26-Jan-15 9.00 Hotel Gran Mahakam Ruang Gardenia, Lobby Level Jalan Mahakam I No. 6, Blok M Jakarta 12130 MGNA RUPS 26-Jan-15 14.30 Ruang Anggrek 5, Lantai 3A, North Tower Sampoerna Strategic Square Jl. Jend. Sudirman Kav. 45-46 Jakarta 12930 ISAT RUPS 28-Jan-15 10.00 Auditorium lantai 4, Gedung Indosat Jl. Medan Merdeka Barat No. 21 Jakarta 10110 DAJK RUPS 29-Jan-15 14.00 Plant 1 PT Dwi Aneka Jaya Kemasindo Tbk Jl. Industri Raya II/5, Kel. Pasir Jaya Jatiuwung Tangerang CMNP RUPS 30-Jan-15 SIPD RUPS 31-Jan-15 14.30 Puri Ratna 2nd Floor , Grand Sahid Jaya Hotel Jl. Jend. Sudirman Kav. 86, Jakarta Pusat JTPE RUPS 4-Feb-15 10.00 Ruang Saturnus III, The Sun Hotel Jl. Pahlawan No. 01 Sidoarjo APII RUPS 6-Feb-15 ACST RUPS 9-Feb-15 14.00 Graha CIMB Niaga, Financial Club Lantai 28 Jl. Jend. Sudirman Kav. 58 Jakarta 12190 ITMA RUPS 16-Feb-15 10.00 WTC II, lantai 18 Jl. Jend. Sudirman Kav. 29-31 Jakarta Selatan DNET RUPS 17-Feb-15 14.00 Wisma Indocement Lantai 21 Jl. Jend. Sudirman kav. 70 - 71 Jakarta 12910 AKKU RUPS 20-Feb-15 BULL RUPS 20-Feb-15 ASRI RUPS 25-Feb-15 10.00 Hotel Mercure, Alam Sutera Serpong-Tangerang

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 15 Januari 2015 JCI 5, %

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