Riset Saham Harian Samuel Research
26 Januari 2017
Market Activity
Dow melewati level psikologisnya
Thursday, 26 Jan 2017 Market Index Index Movement Market Volume Market Value Last Close
: : : :
5,293.8 +1.7 (+0.0%) Mn shrs 4,050 5,327 Bn rupiah Changes +/%
Leading Movers HMSP 3,990 ASII 8,100 SMGR 9,025 EXCL 2,830
40 50 325 150
1.0 0.6 3.7 5.6
Lagging Movers BBRI 11,700 BBCA 14,950 RODA 370 AMRT 550
-125 -100 -114 -35
-1.1 -0.7 -23.6 -6.0
Foreign Net Buy / Sell Net Buy (Rpbn) ASII 115 CTRA 59 BMRI 36 SMGR 27 UNTR 24
Net Sell (Rpbn) BBRI 147 TLKM 83 ELTY 63 BBCA 32 WSKT 26
Money Market Last Close 13,361 4.2 0.4
Changes +/% 30.0 -0.2 0.0 -
Dual Listing Securities Last Close TLKM 29.3 ISAT 42.9 EIDO 24.6
Changes +/% -0.1 -0.2 0.4 1.1 0.1 0.2
USD/IDR JIBOR O/N Infl (MoM)
Indeks AS semalam ditutup naik dan melampaui level psikologisnya (20.000) didorong oleh beberapa executive orders dari Presiden Trump. Hal tersebut telah memicu kenaikan optimisme pasar terhadap pemenuhan janji kampanye Trump. Data existing home sales dan house price indeks yang dilaporkan sejalan dengan proyeksi juga menjadi sentimen penggerak indeks. Dari pasar Eropa, indeks tercatat naik ditengah laporan earnings season, sedangkan bursa di Asia Pasific ditransaksikan naik merefleksikan penguatan Dow semalam. Hari ini kami memperkirakan IHSG akan kembali mengalami kenaikan didorong oleh efek psikologi level Dow yang telah terlampaui. Nilai tukar rupiah mengalami penguatan ke level Rp13.318 dari Rp13.361 sedangkan EIDO tercatat positif. Highlights BMRI: Akan mendorong anak usaha untuk IPO
BUMI: Masuk dalam jajaran indeks LQ45 periode FebJul 2017
BRAU: Restrukturisasi Utang US$ 800 Juta
PGAS: Alokasikan capex US$500 juta di 2017
JSMR: Siapkan capex Rp 27 triliun di 2017
Konsumsi: Persaingan ketat di bisnis mi instan
World Indices
DJIA S&P 500 Euro Stoxx MSCI World Nikkei Hang Seng
Last Close 20,069 2,298 3,326 1,806 19,260 23,049
Changes +/156 18 45 15 202 99
% 0.8 0.8 1.4 0.9 1.1 0.4
Commodities Brent Oil CPO Malay Coal Newc Nickel Tin
Last Close 55 3,125 84 9,657 20,390
www.samuel.co.id
Changes +/% -0.4 -0.6 -24.0 -0.8 0.3 0.3 -100.5 -1.0 17.0 0.1
Page 1 of 7
Riset Saham Harian 26 Januari 2017
BMRI: Akan mendorong anak usaha untuk IPO
BMRI akan mendorong PT Mandiri Tunas Finance (MTF) dan PT Bank Mandiri Taspen Pos (Bank Mantap) yang merupakan anak usahanya untuk IPO. Kedua anak usaha itu dinilai sangat berprospek baik. MTF menargetkan kenaikan pembiayaan baru 11% di tahun ini menjadi Rp 20 triliun. Sementara itu, Bank Mantap menargetkan laba bersih Rp 153 miliar di tahun ini, naik dari Rp 51 miliar (unaudited) di 2016.
Per akhir 2016 lalu, BMRI diperkirakan memiliki aset menembus Rp 1.000 triliun dan merupakan bank pertama di Indonesia yang memiliki aset sebesar itu. BMRI terus berencana ekspansi ke ASEAN, dimana saat ini membidik Filipina, Thailand, dan Vietnam. (Investor Daily) BMRI: Buy; 17E’PE: 11.5x, PBV: 1.5x.
BUMI: Masuk dalam jajaran indeks LQ45 periode Feb-Jul 2017
Saham PT Bumi Resources Tbk. berpotensiterus melejit seiring dengan masuknya emiten berkode saham BUMI itu ke dalam jajaran Indeks LQ45 periode Februari-Juli 2017. Dampak pergerakan harga BUMI terhadap kinerja indeks LQ45 pun dinilai tidak terlalu besar. Pasalnya, bobot BUMI dalam penghitungan indeks saham paling likuid di Bursa itu relatif kecil dibandingkan dengan emiten lain yang punya kapitalisasi pasar dan likuiditas yang lebih besar dibandingkan emiten tambang Grup Bakrie itu.
Selain BUMI, dua penghuni baru LQ45 lainnya adalah PT XL Axiata Tbk. (EXCL) dan PT PP Properti Tbk. (PPRO). Berdasarkan pengumuman Bursa Efek Indonesia, tiga saham tersebut menggantikan PT Global Mediacom Tbk., PT Matahari Putra Prima Tbk., dan PT Siloam International Hospital Tbk. yang terlempar dari daftar 45 saham paling likuid di BEI. (Bisnis Indonesia). BUMI: Non-Coverage.
BRAU: Restrukturisasi Utang US$ 800 Juta
PT Berau Coal Energy Tbk (BRAU) memproses rencana restrukturisasi sisa utang US$ 800 juta. Komite ad hoc pemegang sekitar 25% obligasi BRAU yang jatuh tempo 2015 dan 2017 keberatan atas skema restrukturisasi utang yang telah gagal bayar ini.
BRAU tengah merestrukturisasi dua utang obligasinya dengan cara membeli kembali (buyback) obligasi lama. dan saat ini sudah menyiapkan US$ 46 juta untukmembeli kembali obligasinya diharga US$ 0,18 untuk US$ 1 obligasi. Sisa utang yang masih cukup besar akan dikonversi ke obligasi baru BRAU dengan kupon 1% yang akan jatuh tempo pada tahun 2027 dan obligasi zero coupon yang jatuh tempo tahun 2032. (Kontan). BRAU: Non-Coverage.
www.samuel.co.id
Page 2 of 7
Riset Saham Harian 26 Januari 2017
PGAS: Alokasikan capex US$500 juta di 2017
PT Perusahaan Gas Negara Tbk (PGAS) menyiapkan belanja modal sebesar US$ 500 juta, flat dibanding realisasi tahun 2016 yang berkisar US$ 400 – 500 juta. Perseroan akan menggunakan kas internal untuk membiayai capex dan akan digunakan separuhnya untuk ekspansi hulu, sedangkan sisanya untuk Perseroan. (Investor Daily) PGAS: Buy; 17E’PE: 9.4x, PBV: 1.3x.
JSMR: Siapkan capex Rp 27 triliun di 2017
PT Jasa Marga Tbk (JSMR) menyiapkan belanja modal senilai Rp 27 triliun di tahun ini. Mayoritas capex akan disalurkan untuk pembangunan 235 kilometer jalan tol baru dengan investasi Rp 22 triliun, sisa Rp 4 triliun akan digunakan untuk biaya operasional, pengembangan anak usaha property dan jasa layanan pemeliharaan sebesar Rp 600 miliar. (Investor Daily) JSMR: Buy; 17E’PE: 15.8x, PBV: 2.2x.
Konsumsi: Persaingan ketat di bisnis mi instan
Persaingan merupakan hal yang sering terjadi di industri konsumsi, seperti mi instan, yang saat ini dikuasai oleh beberapa pemain utama antara lain grup Indofood (ICBP, INDF), Wings (PT Sayap Utama), dan Mayora (MYOR).
www.samuel.co.id
Pasar mi premium sedang naik daun karena menghadirkan varian mi yang lebih menarik dan banyak dibeli oleh masyarakat kelas atas. Real Meat dari ICBP dan Bakmi Mewah dari MYOR tengah bersaing ketat. Wings belum menyatakan akan masuk ke segmen ini. (Kontan) Consumer: Overweight.
Page 3 of 7
Riset Saham Harian 26 Januari 2017 Ticker
Rec.
JCI Wgt Last price 1D Chg 5D Chg 1M Chg YTD Chg TP Cons (%)
(Rp)
PE
PBV
ROE
TP SSI
Upside
(%)
(%)
(%)
(%)
(Rp)
(Rp)
(%)
16E
17E
16E
17E
16E
17E
Banks BMRI
BUY
4.4
11000
0.0
(0.45)
2.1
(5.0)
11378
12400
12.7
14.7
11.5
1.7
1.5
11.3%
13.1%
BBCA
BUY
6.4
14950
(0.7)
(2.29)
3.5
(3.5)
16470
17100
14.4
18.9
15.9
3.3
2.8
17.6%
17.9%
BBRI BBNI
BUY BUY
5.0 1.8
11700 5500
(1.1) (0.9)
(2.09) (1.35)
7.6 4.8
0.2 (0.5)
13134 6400
13700 6300
17.1 14.5
11.1 9.7
9.5 7.9
2.0 1.2
1.7 1.1
17.9% 12.2%
18.1% 13.4%
BBTN
BUY
0.4
1920
0.8
2.13
17.8
10.3
2095
2300
19.8
Average
8.7
7.3
1.1
1.0
12.4%
13.1%
12.6
10.4
1.8
1.6
14.3%
15.1%
Consumer (Staples) ICBP
BUY
1.8
8600
1.5
0.29
13.9
0.3
10107
10300
19.8
27.0
24.2
5.7
5.0
21.0%
20.8%
INDF
BUY
1.2
8000
0.0
0.63
10.0
0.9
9946
9900
23.8
17.8
15.0
2.3
2.1
13.2%
14.2%
KLBF
BUY
1.2
1495
0.0
(1.97)
3.8
(1.3)
1771
1700
13.7
31.1
27.7
6.0
5.3
19.1%
19.0%
ROTI
BUY
0.1
1555
(3.1)
(4.89)
4.4
(2.8)
1808
2000
28.6
32.4
26.8
5.7
4.9
17.5%
18.1%
ULTJ
BUY
0.2
4400
2.6
1.15
(3.9)
(3.7)
2703
5300
20.5
20.2
16.5
3.8
3.1
18.7%
18.9%
UNVR
BUY
5.6
41900
(0.2)
2.44
10.6
8.0
44027
45200
7.9
50.1
44.8
59.5
52.2
118.9% 116.6%
SIDO AISA
BUY BUY
0.1 0.1
550 1985
0.0 (1.2)
0.92 (3.17)
7.8 4.2
5.8 2.1
680 2427
700 2440
27.3 22.9
17.1 15.9
15.3 12.2
3.0 1.7
2.9 1.5
17.7% 10.7%
18.9% 12.2%
28.0
24.3
12.3
10.8
32.3%
32.4%
Average Cigarette HMSP
BUY
8.1
3990
1.0
BUY
2.1
63000
(1.2)
-
HOLD
0.6
2440
0.4
BUY
0.3
11850
(3.1)
MAPI RALS
BUY BUY
0.1 0.2
5125 1310
ACES LPPF
BUY BUY
0.2 0.8
745 15150
GGRM Average
2.84
9.6
4.2
4105
4390
10.0
39.2
35.1
13.0
11.9
33.3%
33.8%
4.5
(1.4)
78001
77150
22.5
18.5 28.9
17.8 26.5
2.8 7.9
2.5 7.2
15.2% 24.2%
14.1% 24.0%
(0.81)
0.8
(5.1)
3076
2950
20.9
53.3
46.8
9.9
9.0
18.5%
19.1%
(2.67)
17.3
8.7
11921
12500
5.5
158.0 105.7
124.5 85.7
6.4 8.1
5.8 7.4
4.1% 11.3%
4.7% 11.9%
(3.3) 5.6
(0.97) 6.50
6.8 15.9
(5.1) 9.6
5709 1472
6700 1565
30.7 19.5
45.4 23.8
26.7 20.2
2.6 2.6
2.4 2.4
5.8% 11.0%
9.0% 12.1%
(1.3) 0.8
0.68 3.06
(2.0) 6.1
(10.8) 0.2
967 19431
1000 19500
34.2 28.7
20.7 18.1
19.1 16.0
4.4 20.3
4.0 13.0
21.2% 111.9%
20.7% 81.1%
27.0
20.5
7.5
5.4
37.5%
30.7%
353.8 41.6 19.9
48.8 19.1 16.3
1.4 2.5 4.4
1.3 2.2 3.9
0.4% 6.0% 22.3%
2.8% 11.7% 24.0%
Healthcare MIKA SILO Average Retail
Average Telco EXCL ISAT TLKM
HOLD BUY BUY
0.5 0.6 6.9
2830 6200 3900
5.6 (0.8) (0.3)
4.04 1.64 (1.52)
25.8 (1.2) 5.7
22.5 (3.9) (2.0)
3143 7880 4681
2200 7200 5000
-22.3 16.1 28.2
TOWR
BUY
0.6
3500
0.6
0.29
(2.5)
(2.2)
4617
4500
28.6
Average Auto and HE ASII BUY UNTR
BUY
11.5
10.2
3.3
2.5
28.8%
24.5%
106.7
23.6
2.9
2.5
0.1
0.2
5.7
8100
0.6
(0.31)
10.6
(2.1)
8771
9000
11.1
17.8
14.6
3.0
2.5
16.7%
17.2%
1.5
22625
(0.8)
4.26
15.0
6.5
24148
25050
10.7
19.5
16.4
2.1
2.0
10.7%
11.9%
18.6
15.5
2.5
2.2
13.7%
14.6%
Average Aviation GIAA
BUY
0.2
338
(0.6)
(4.52)
0.6
0.0
388
445
31.7
17.8
13.0
0.7
0.9
3.8%
7.1%
BSDE PWON
BUY HOLD
0.6 0.5
1860 575
0.8 0.9
3.33 (0.86)
16.3 6.5
6.0 1.8
2359 721
2350 710
26.3 23.5
14.6 20.6
11.8 19.1
1.6 3.5
1.4 3.0
11.1% 16.8%
11.8% 15.8%
KPIG ASRI
BUY HOLD
0.2 0.1
1480 384
0.0 (2.0)
2.42 1.05
(0.3) 15.0
(1.3) 9.1
n/a 430
1810 390
22.3 1.6
34.4 12.0
29.0 11.3
1.2 1.1
1.2 1.0
3.5% 9.0%
4.1% 8.8%
SMRA Average
BUY
0.3
1375
(1.4)
4.56
9.6
3.8
1658
1750
27.3
30.2 19.4
28.4 17.7
2.6 2.2
2.4 2.0
8.5% 11.4%
8.4% 11.2%
Construction PTPP BUY ADHI BUY
0.4 0.1
3480 2150
(0.6) 0.9
(3.06) -
(1.7) 8.6
(8.7) 3.4
4969 2550
5100 2750
46.6 27.9
21.3 16.2
18.3 13.3
3.0 1.4
2.6 1.3
13.9% 8.9%
14.4% 9.5%
0.6 0.4
2550 2510
0.4 1.6
(4.14) (1.18)
10.9 9.6
0.0 6.4
3263 3045
3250 3000
27.5 19.5
19.9 21.8
16.2 18.5
1.8 2.5
1.6 2.1
9.2% 11.2%
9.9% 11.4%
19.8
16.6
2.2
1.9
10.8%
11.3%
Property
WSKT WIKA
BUY BUY
Average Cement INTP SMGR
SELL HOLD
1.0 0.9
15075 9025
1.9 3.7
1.86 3.14
1.9 (0.3)
(2.1) (1.6)
16199 10110
13500 9000
-10.4 -0.3
13.5 13.7
13.2 13.2
2.1 1.9
1.9 1.7
15.6% 13.7%
14.4% 12.9%
SMCB SMBR Average
SELL HOLD
0.1 0.4
900 2090
0.0 6.1
9.14
1.7 (18.7)
0.0 (25.1)
856 859
700 2300
-22.2 10.0
-90.0 63.3 0.1
-37.5 55.0 11.0
0.8 6.3 2.8
0.8 5.5 2.5
-0.9% 9.9% 0.1
-2.3% 10.0% 0.1
Precast WSBP
BUY
0.3
575
0.0
(0.86)
7.5
3.6
693
690
20.0
28.4
22.6
2.4
2.2
8.4%
9.6%
WTON
BUY
0.1
825
0.0
(1.20)
0.6
0.0
1151
1150
39.4
25.6
19.5
2.6
2.1
10.2%
10.9%
27.0
21.0
2.5
2.1
9.3%
10.2%
Average
www.samuel.co.id
Page 4 of 7
Riset Saham Harian 26 Januari 2017 Ticker
Rec.
JCI Wgt Last price 1D Chg 5D Chg 1M Chg YTD Chg TP Cons (%) (Rp) (%) (%) (%) (%) (Rp)
Utility PGAS BUY JSMR BUY Average Coal and Metal ANTM BUY INCO BUY TINS BUY ITMG BUY ADRO BUY PTBA BUY Average Plantation AALI BUY LSIP BUY SIMP BUY Average Poultry BUY CPIN BUY JPFA BUY MAIN Average Other Sectors BUY AKRA BUY DOID
1.1 0.5
2650 4180
(0.4) (0.2)
(2.93) (0.24)
0.3 0.4 0.1 0.3 1.0 0.4
805 2300 980 14525 1740 10975
0.0 0.9 0.5 (1.9) 0.9 (2.9)
0.5 0.2 0.1
15775 1640 515
(1.4) (1.2) 1.0
(5.11) (5.75) (0.96)
0.9 0.3 0.0
3190 1610 1215
0.5 0.1
6850.0 505.0
Upside (%)
PE
PBV
ROE
16E
17E
16E
17E
16E
17E
(1.9) (3.2)
3113 5634
3375 5000
27.4 19.6
11.4 16.0 13.7
9.4 15.8 12.6
1.4 2.4 1.9
1.3 2.2 1.7
12.3% 15.3% 13.8%
13.5% 13.9% 13.7%
(10.1) (18.4) (8.8) (13.9) 2.7 (12.2)
918 2815 1183 18874 1867 14355
1250 3500 1200 19000 2100 15000
55.3 52.2 22.4 30.8 20.7 36.7
402.5 176.9 98.0 12.2 15.5 18.4 120.6
9.4 25.0 46.7 6.3 13.2 11.3 18.6
1.0 1.0 1.4 1.4 1.2 2.6 1.4
0.9 0.9 1.3 1.2 1.1 2.3 1.3
0.3% 0.5% 1.4% 11.3% 7.6% 14.1% 5.9%
10.0% 3.7% 2.9% 19.6% 8.5% 19.9% 10.7%
(3.2) (1.5) 6.8
(6.0) (5.7) 4.3
18356 1885 565
19800 2050 600
25.5 25.0 16.5
18.2 23.1 18.4 19.9
17.3 14.8 11.7 14.6
1.9 1.5 0.6 1.3
1.9 1.3 0.6 1.3
10.7% 6.3% 3.1% 6.7%
10.7% 9.1% 4.9% 8.2%
1.3 0.6 0.0
(1.54) 10.0 (0.62) 8.4 0.41 0.8
3.2 10.7 (6.5)
3606 2319 1904
4500 2200 1730
41.1 36.6 42.4
15.0 9.7 7.1 10.6
13.5 8.8 6.6 9.6
1.9 2.0 1.2 1.7
1.7 1.7 1.0 1.5
13.0% 20.7% 16.3% 16.7%
12.8% 18.7% 15.6% 15.7%
0.4 1.0
13.2 -3.8
14.2 -1.0
7423.2 825.0
7600 850
10.9 68.3
24.6 9.0 16.8
21.9 4.8 13.3
4.0 2.6 3.3
3.6 1.7 2.6
16.2% 28.7% 22.5%
16.3% 35.9% 26.1%
(10.06) (5.8) (6.88) (15.4) (13.27) (10.1) (7.92) (9.8) 1.16 5.1 (8.92) (7.0)
Average Source: SSI Research, Bloomberg Note: GIAA, PGAS, ITMG, ADRO, INCO, DOID report in USD.
www.samuel.co.id
5.2 0.2
TP SSI (Rp)
22.9 5.2
Page 5 of 7
Riset Saham Harian 26 Januari 2017
Regional Indices
1D Change Points
Last Price
Change (%)
1 Year
1D
3D
1W
1M
3M
YTD
1YR
High
Low
World U.S. (S&P)
15.24 18.30
1,806 2,298
0.85 0.80
1.37 1.19
1.68 1.17
2.65 1.53
6.23 7.43
3.12 2.66
17.58 20.74
1,807 2,300
1,460 1,810
U.S. (DOW) Europe
155.80 44.62
20,069 3,326
0.78 1.36
1.22 0.81
1.33 0.98
0.68 1.59
10.27 7.96
1.55 1.08
24.13 9.67
20,082 3,334
15,503 2,673
Emerging Market
3.53
912
0.39
2.11
1.59
8.38
(0.66)
5.79
27.38
930
704
FTSE 100
14.09
7,164
0.20
(0.47)
(1.15)
1.36
2.97
0.30
n/a
7,354
5,500
CAC 40
47.64
4,878
0.99
0.56
0.50
0.78
7.57
0.32
11.96
4,930
3,892
Dax Indonesia
211.11 1.69
11,806 5,294
1.82 0.03
1.51 0.75
1.78 (0.02)
3.11 5.29
10.24 (1.96)
2.83 (0.06)
20.19 17.37
11,828 5,492
8,699 4,483
Japan
196.73
19,254
1.03
1.92
0.95
(0.73)
10.71
0.73
15.23
19,615
14,864
Australia Korea
21.41 2.83
5,672 2,070
0.38 0.14
0.30 0.18
(0.13) (0.15)
0.77 1.57
5.82 2.77
0.10 2.14
13.28 10.58
5,828 2,091
4,707 1,818
Singapore Malaysia
(2.01) 3.24
3,040 1,684
(0.07) 0.19
0.96 1.14
1.32 1.14
5.88 4.13
7.47 0.60
5.53 2.57
19.42 3.52
3,062 1,729
2,528 1,612
Hong Kong
99.26
23,049
0.43
0.71
(0.21)
6.83
(1.18)
4.77
22.21
24,364
18,279
China Taiwan
7.00 23.90
3,150 9,448
0.22 0.25
0.85 1.39
1.17 1.00
0.86 4.07
1.07 0.66
1.48 2.10
14.54 19.68
3,301 9,468
2,638 7,800
Thailand
5.47
1,584
0.35
1.36
1.50
4.56
6.18
2.68
24.94
1,588
1,259
Philipines
(47.29)
7,323
(0.64)
1.25
2.33
11.57
(2.28)
7.06
16.03
8,118
6,259
1D Change Points
Last Price
(0.01)
Foreign Reserve (US$bn) Inflation Rate (%)
Monetary Indicators
Change (%)
1 Year
1W
1M
3M
YTD
1YR
High
Low
4.17
(0.06)
(24.80)
(0.89)
(1.61)
(23.10)
5.58
4.16
n/a
116.36
n/a
4.39
0.60
9.85
9.85
116.36
102.13
n/a
0.42
n/a
(10.64)
90.91
(56.25)
(56.25)
0.69
(0.45)
US Fed Rate (%) 0.00 Indo Govt Bond Yld (10yr) - % 0.00
0.75 7.56
0.00 0.03
0.00 (4.19)
50.00 6.73
0.00 (5.17)
50.00 (10.85)
0.75 8.49
0.50 6.77
JIBOR Overnight (%)
Exchange Rate (per US$) 1D Change Currency
Points
Indonesia Japan
30.00 (0.08)
UK Euro China Commodities Indicators
Last Price
Change (%)
1 Year
1D
3D
1W
1M
3M
YTD
1YR
High
Low
13361 113.20
(0.22) 0.07
0.37 (0.43)
(0.13) 1.47
0.68 3.45
0.84 3.32
0.84 3.32
3.83 4.61
13,915 121.69
12,920 99.02
(0.00) 0.00
1.26 1.08
(0.01) 0.07
0.78 (0.08)
2.36 0.86
2.86 2.88
2.37 2.27
2.37 2.27
(11.97) (1.05)
1.50 1.16
1.18 1.03
0.02
6.88
(0.36)
(0.10)
(0.49)
0.95
0.89
0.89
(4.42)
6.96
6.45
53.04
1D 0.55
3D 0.55
1W 3.25
1M 0.04
3M 7.85
YTD (1.27)
1YR 68.65
High 55.24
Low 26.05
1D Change
Last Price
Change (%)
1 Year
Spot Oil
Points 0.29
CPO
(24.00)
3,125.00
(0.76)
0.77
(0.79)
2.12
13.22
0.51
27.03
3,202.00
2,172.00
Rubber Coal
13.50 0.25
1,144.00 84.20
1.19 0.30
2.79 0.72
5.34 0.78
19.85 (5.97)
64.01 (15.93)
17.03 (11.09)
108.00 68.40
1,144.00 112.25
526.00 51.75
Iron Ore
1.52
83.44
1.86
1.02
(0.36)
6.51
40.85
6.89
101.55
84.07
41.00
Tin
17.00
20,390.00
0.08
0.98
(3.35)
(3.95)
(0.71)
(3.84)
48.38
21,945.00
13,936.50
Nickel
(100.00)
9,700.00
(1.02)
0.00
(4.67)
(6.82)
(5.13)
(3.19)
13.45
12,145.00
7,550.00
Copper Gold
(1.00) 4.40
5,942.00 1,202.20
(0.02) 0.37
3.38 (1.10)
3.00 0.06
8.65 6.20
25.49 (4.98)
7.34 4.54
34.53 7.32
6,045.50 1,377.50
4,408.00 1,107.20
Source: SSI Research, Bloomberg
www.samuel.co.id
Page 6 of 7
Research Team Andy Ferdinand, CFA
Head Of Equity Research, Strategy, Banking, Consumer
[email protected]
+6221 2854 8148
Rangga Cipta
Economist
[email protected]
+6221 2854 8396
Muhamad Makky Dandytra, CFTe
Technical Analyst
[email protected]
+6221 2854 8382
Akhmad Nurcahyadi, CSA
Auto, Aviation, Cigarette, Construction Healthcare, Heavy Equipment, Property
[email protected]
+6221 2854 8144
Arandi Ariantara
Cement, Telecommunication, Utility
[email protected]
+6221 2854 8392
Marlene Tanumihardja
Poultry, Retail, Small Caps
[email protected]
+6221 2854 8387
Sharlita Lutfiah Malik
Mining, Plantation
[email protected]
+6221 2854 8339
Adde Chandra Kurniawan
Research Associate
[email protected]
+6221 2854 8338
Evelyn Satyono
Head of PWM / Institutional Sales
[email protected]
+6221 2854 8380
Muhamad Alfatih CSA, CTA, CFTe
Senior Technical Portfolio Advisor
[email protected]
+6221 2854 8129
Ronny Ardianto
Institutional Equity Sales
[email protected]
+6221 2854 8399
Clarice Wijana
Institutional Equity Sales
[email protected]
+6221 2854 8395
Fachruly Fiater
Institutional Equity Sales
[email protected]
+6221 2854 8325
Kelvin Long
Head of Equities
[email protected]
+6221 2854 8150
Yulianah
Institutional Equity Sales
[email protected]
+6221 2854 8146
Lucia Irawati
Retail Equity Sales
[email protected]
+6221 2854 8173
Nugroho Nuswantoro
Head of Marketing Online Trading
[email protected]
+6221 2854 8372
Wahyu Widodo
Marketing
[email protected]
+6221 2854 8371
Aben Epapras
Marketing
[email protected]
+6221 2854 8389
Private Wealth Management
Equity Sales Team
Online Trading Sales Team
DISCLAIMERS : Analyst Certification : The v iews expressed in this research accurately ref lect the personal views of the analyst(s) about th e subject securities or issuers and no part of the compensation of the analyst(s) was, is, or will be directly or indirectly related to the inclusion of specific recommendations or v iews in this research. The analyst(s) principally responsible for the preparation of this research has taken reasonable care to achieve an d maintain independence and objectivity in making any recommendations. This document is f or information only and f or the use of the recipient. It is not to be reprod uced or copied or made available to others. Under no circumstances is it to be considered as an offer to sell or solicitation to buy any security. Any recommendation contained in this report may not be suitable f or all investors. Moreover, although the inf ormation contained herein has been obtained from sources believed to be reliable, its accuracy, completeness and reliability cannot be guaranteed. All rights reserv ed by PT Samuel Sekuritas Indonesia
www.samuel.co.id
Page 7 of 7
