RISET SAHAM HARIAN Samuel Equity Research
Thursday, 15 December 2016
Market Activity
Fed kejutkan rentang kenaikan suku bunga acuan
Thursday, 15 Dec 2016 Market Index Index Movement Market Volume Market Value
: : : :
Last Close
5,262.8 -30.8 (-0.58%) Mn shrs 4,050 5,327 Bn rupiah Changes +/%
Leading Movers BBCA 14,750 BMRI 10,875 BTPN 2,850 NIKL 2,270
50 50 170 370
0.3 0.5 6.3 19.5
Lagging Movers BBRI 11,500 UNVR 40,050 TLKM 3,920 HMSP 3,950
-225 -675 -50 -30
-1.9 -1.7 -1.3 -0.8
Foreign Net Buy / Sell Net Buy (Rpbn) BMRI 62 BBCA 39 JSMR 33 BBNI 21 ADRO 19
Net Sell (Rpbn) ASII 104 TLKM 94 BBRI 51 UNVR 32 BJBR 28
Last Close 13,295 4.2 0.5
Changes +/% -13.0 0.1 0.0 -
Dual Listing Securities Last Close TLKM 28.9 ISAT 41.3 EIDO 23.8
Changes +/% -0.9 -2.9 -0.8 -1.9 -0.9 -3.7
World Indices
DJIA S&P 500 Euro Stoxx MSCI World Nikkei Hang Seng
Last Close 19,793 2,253 3,212 1,764 19,401 22,457
Changes +/-119 -18 -25 -10 148 10
% -0.6 -0.8 -0.8 -0.6 0.8 0.0
Bahkan The Fed berencana kembali menaikkan dua kali di tahun 2018 dan tiga kali di tahun 2019. Rentang kenaikan yang lebih tinggi dari ekspektasi tersebut. menjadi alasan utama dan pendorong pelemahan. Angka VIX juga kembali tercatat naik ke 13.19 merefleksikan kekhawatiran pasar. Pasar Eropa juga mengadopsi sentimen yang sama ditengah rilisnya data unemployment rate. Dari pasar komoditas, harga minyak dan emas tercatat turun. Sementara itu, dari pasar Asia Pasifik, sebagian besar indeks utama di wilayah tersebut ditransaksikan turun didorong oleh sentimen yang sama. Dari pasar dalam negeri, kami melihat IHSG hari ini
ke level Rp13.365 vs Rp13.295 sedangkan EIDO tercatat melemah. Highlights
EXCL: Pelanggan pascabayar naik 21%
JSMR: Menteri PUPR mengamanatkan anak usaha untuk mengerjakan ruas tol Salatiga - Solo
BMRS: Perkuat aliansi bisnis
SMRA: Targetkan marketing sales Rp4.5tn
MEDC: Bidik dana besar di pasar modal
Sektor konsumsi: KPPU Merekomendasikan perubahan
skema impor gula Minyak dan gas: OPEC memperkirakan oversupply akan berakhir
Commodities Brent Oil CPO Malay Coal Newc Nickel Tin
The Fed menaikan suku bunga acuannya sebanyak 3x tahun depan.
berpotensi kembali mengalami tekanan. Nilai tukar rupiah melemah
Money Market
USD/IDR JIBOR O/N Infl (MoM)
Indeks AS semalam ditutup turun, ditengah berita seputar rencana
Last Close 54 3,095 82 11,387 21,240
www.samuel.co.id
Changes +/% -1.8 -3.3 24.0 0.8 0.5 0.6 29.5 0.3 -210.0 -1.0
Minyak dan gas: Menteri ESDM menyatakan gross split akan mempercepat investasi migas
DISCLAIMERS : Anal yst Certification : The vi ews express ed in this research acc uratel y reflect the personal views of the anal ys t(s) about the s ubjec t s ecurities or issuers and no part of the c ompens ation of the analys t(s) was, is, or will be direc tl y or indirec tl y related to the incl usion of s pecific recommendati ons or vi ews in this res earch. The anal yst(s) princi pall y res ponsible for the pr eparati on of this r esearch has taken reasonable car e to ac hi eve and maintain i ndependence and obj ecti vity in maki ng any rec ommendati ons . This document is for information onl y and for the use of the recipient. It is not to be repr oduced or copied or made available to others. Under no circumstanc es is it to be considered as an offer to s ell or solicitation to buy any s ecurity. Any r ecommendation c ontai ned in this report may not be s uitable for all investors. Mor eover, although the i nfor mation contained herein has been obtained from sources believed to be r eliabl e, its accurac y, c ompleteness and reli ability c annot be guaranteed. All rights res er ved by PT Samuel Sekuritas Indonesi a.
EXCL: Pelanggan pascabayar naik 21% Hingga Oktober 2016, pelanggan pascabayar/postpaid PT XL Axiata Tbk (EXCL) meningkat lebih dari 21% sepanjang 2016 menjadi 536.000 pelanggan. Peningkatan ini didorong oleh program postpaid baru, XL Prioritas yang dimulai sejak Februari 2016. Sebelumnya, akuisisi pelanggan sekitar 2.000 pelanggan/bulan, namun sejak diluncurkan program XL Prioritas akuisisi pelanggan mencapai 11.000 pelanggan/bulan. (Bisnis Indonesia) EXCL: Hold; 17E’ PE: 30.0x, PBV: 1.1x. JSMR: Menteri PUPR mengamanatkan anak usaha untuk mengerjakan ruas tol Salatiga - Solo Menteri Pekerjaan Umum dan Perumahan Rakyat (PUPR) menerbitkan surat yang mengamanatkan kepada anak usaha PT Jasa Marga Tbk (JSMR), PT Solo Ngawi Jaya (JSMR: 59,9%) untuk mengerjakan konstruksi fisik di ruas Salatiga – Solo yang dimiliki oleh PT Trans Marga Jateng (JSMR: 73,9%). Penugasan ini untuk mempercepat konstruksi setelah Badan Pengatur Jalan Tol (BPJT) membatalkan rencana menjadikan ruas Salatiga – Solo sepanjang 33 km sebgai proyek percontohan berskema availaibility payment (AP) atau pembayaran berdasarkan ketersediaan layanan. Ruas tol tersebut merupakan bagian dari ruas tol Semarang – Solo dengan investasi sebesar Rp 7,3 triliun dan ditargetkan beroperasi di 2019. (Bisnis Indonesia) JSMR: Buy; 17E’ PE: 17.1x, PBV: 2.4x. BMRS: Perkuat aliansi bisnis PT Bumi Resources Minerals Tbk (BRMS) tengah menjajaki kerja sama dengan China Nonferrous Metal Industry’s Foreign Engineering and Construction Co Ltd (NFC) untuk mengembangkan tambang emas dan tembaga di Gorontalo dan Palu. Bumi Minerals dan NFC berpotensi melakukan skema equity partner. Cadangan emas pada Gorontalo Minerals sekitar 105,4 juta ton, sedangkan sumber daya diperkirakan mencapai 324 juta per ton. Sementara pada proyek Palu, perseroan memiliki hak konsesi pertambangan seluas 85.180 ha. Estimasi sumberdaya mineraproyek tersebut 6,7 juta ton. (Investor Daily) Non-Coverage. SMRA: Targetkan marketing sales Rp4.5tn PT Suumarecon Agung, Tbk (SMRA) mentargetkan nilai pre sales tahun depan sebesar Rp4.5tn. Untuk mendukung pencapaian tersebut pengembangan township dan penawaran terhadap beberapa proyek baru di Kelapa Gadung, Bekasi, Serpong, Bandung dan Karawang juga terus dilakukan. Alokasi belanja modal tahun depoan sebesar Rp2.7tn yang merupakan komb inasi kas internal dan pinjaman perbankan. (Kontan). SMRA. Buy; 29.3x P/E17E dan 2.5x PBV 17E.
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Page 2 of 7
MEDC: Bidik dana besar di pasar modal PT Medco Energi International Tbk (MEDC) akan mencari pendanaan dari pasar saham dan penerbitan surat utang untuk membayar kembali utangnya dan mendanai ekspansi tahun depan. MEDC mengalokasikan belanja modal sebesar US$ 150 juta hingga US$ 180 juta untuk 2017. Belanja modal ini akan digunakan untuk menjaga produksi MEDC tahun depan. MEDC memperkirakan setiap kenaikan harga minyak sebesar US$ 10/b, MEDC akan memiliki tambahan dana sebesar US$ 45 juta untuk memb ayar utang, utang jatuh tempo perseroan di 2017 sebesar US$ 60 juta. MEDC juga berencana membawa PT Amman Mineral (sebelumnya Newmont) ke pasar saham melalui penawaran saham perdana. Perseroan memperkirakan Amman bisa mencetak EBITDA sebesar US$ 600 juta melalui asset tambang Batu Hijau dan dapat digunakan untuk melunasi utang sindikasi bank BUMN sebesar US$ 750 juta yang diambil ketika mengakuisisi Newmont sebesar US$ 2,6 miliar . (Kontan) MEDC: Non coverage. Sektor konsumsi: KPPU Merekomendasikan perubahan skema impor gula Komisi Pengawas Persaingan Usaha (KPPU) merekomendasikan perubahan skema importasi gula yang dinilai secara tidak sengaja memfasilitasi praktik persekongkolan kegiatan usaha. Masalah utama gula memang bersumber dari regulasi yang mendahulukan kepentingan perusahaan tertentu dengan sistem penjatahan. Aturan tersebut dilakukan pemerintah sebagai upaya pengendalian sektor hulu. Sementara itu, seperti dilansir oleh Antara, harga gula pasir di sejumlah wilayah di Indonesia mulai merangkak naik menjelang Natal dan Tahun Baru. Dalam situs resmi Kementerian Perdagangan disebutkan, rata – rata nasional harga gula pasir pada Rabu (14/12) mencapai Rp14,087 per kilogram. Kenaikan terjadi seiring dengan tingginya permintaan masyarakat, sedangkan pasokannya stabil, menyebabkan harga mengalami kenaikan. (Bisnis Indonesia). Sektor Konsumsi: Overweight. Minyak dan gas: OPEC memperkirakan oversupply akan berakhir Dalam laporan bulanannya, Organisasi Negara Pengekspor Minyak (OPEC) memperkirakan oversupply di minyak akan segera berakhir. Hal ini didorong oleh adanya kesepakatan pemangkasan produksi dari anggota OPEC dan non-OPEC. (Investor Daily) Utilities: Neutral. Minyak dan gas: Menteri ESDM menyatakan gross split akan mempercepat investasi migas Menteri Energi dan Sumber Daya Mineral (ESDM), Iganasius Jonan, menyatakan pengelolaan sumber daya alam migas dalam skema gross split akan mempercepat investasi migas karena skema ini tidak rumit dan dapat mengurangi birokrasi. (Investor Daily) Utilities: Neutral.
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Page 3 of 7
Ticker
Rec.
JCI Wgt Last price 1D Chg 5D Chg 1M Chg YTD Chg TP Cons (%)
(Rp)
(%)
(%)
PE
PBV
ROE
EV/EBITDA (x)
TP SSI
Upside
(%)
(%)
(Rp)
(Rp)
(%)
16E
17E
16E
17E
16E
17E
16E
17E
Banks BMRI
HOLD
4.4
10875
0.5
2.11
3.1
17.6
11039
10300
-5.3
14.5
11.3
1.6
1.5
11.3%
13.1%
n/a
n/a
BBCA
BUY
6.3
14750
0.3
0.51
1.4
10.9
16292
17100
15.9
18.6
15.7
3.3
2.8
17.6%
17.9%
n/a
n/a
BBRI BBNI
BUY BUY
4.9 1.8
11500 5475
(1.9) 0.0
1.55 1.86
4.3 9.5
0.7 9.7
13004 6352
13700 6300
19.1 15.1
10.9 9.6
9.4 7.9
2.0 1.2
1.7 1.1
17.9% 12.2%
18.1% 13.4%
n/a n/a
n/a n/a
BBTN Average
BUY
0.3
1730
0.9
(1.70)
6.5
33.6
2169
2300
32.9
7.8 12.3
6.6 10.2
1.0 1.8
0.9 1.6
12.4% 14.3%
13.1% 15.1%
n/a n/a
n/a n/a
1.8 1.2
8925 7975
(0.3) (1.8)
2.59 6.33
3.2 4.9
32.5 54.1
10150 9950
10300 9900
15.4 24.1
28.0 17.8
25.1 15.0
5.9 2.3
5.2 2.1
21.0% 13.2%
20.8% 14.2%
20.9 9.5
17.8 8.5
Consumer (Staples) ICBP BUY INDF BUY KLBF ROTI
HOLD BUY
1.3 0.1
1535 1515
(0.6) 0.7
(2.23) (0.33)
4.1 (2.3)
16.3 19.8
1739 1738
1700 2000
10.7 32.0
32.0 28.6
28.4 21.3
6.1 5.4
5.4 4.5
19.1% 18.9%
19.0% 21.1%
22.0 13.4
18.4 11.8
ULTJ UNVR
BUY HOLD
0.2 5.4
4570 40050
(0.7) (1.7)
(1.51) (4.19)
(0.7) (2.3)
15.8 8.2
5367 44271
5300 45200
16.0 12.9
21.0 47.8
17.2 42.8
3.9 56.9
3.2 49.9
18.7% 18.9% 118.9% 116.6%
13.2 33.4
11.3 30.6
SIDO AISA
BUY BUY
0.1 0.1
545 1990
(0.9) (0.5)
(0.91) 3.92
5.8 6.7
(0.9) 64.5
690 2427
730 2240
33.9 12.6
17.0 15.9
15.1 12.2
3.0 1.7
2.9 1.5
17.7% 10.7%
18.9% 12.2%
7.7 14.2
6.2 12.8
27.4
23.6
11.9
10.5
32.5%
32.8%
17.2
15.0
38.8 19.7 29.2
34.7 19.0 26.9
12.9 3.0 8.0
11.7 2.7 7.2
33.3% 15.2% 24.2%
33.8% 14.1% 24.0%
27.8 12.8 20.3
25.1 11.7 18.4
Average Cigarette HMSP GGRM Average
HOLD BUY
8.1 2.3
Healthcare MIKA HOLD SILO Average Retail MAPI
3950 67025
(0.8) 0.3
0.77 (0.63)
3.9 9.7
5.1 21.9
4252 77883
4390 77150
11.1 15.1
0.6
2520
0.0
(1.56)
(8.4)
5.0
3109
2950
17.1
55.1
48.4
10.2
9.2
18.5%
19.1%
29.6
26.6
BUY
0.2
10350
1.0
(4.39) 10.4
7.3
11154
12500
20.8
138.0 96.6
108.7 78.5
5.6 7.9
5.1 7.2
4.1% 11.3%
4.7% 11.9%
18.4 24.0
15.0 20.8
HOLD
0.1
5000
(0.5)
(3.38)
3.1
31.8
5569
5500
10.0
44.2
26.0
2.6
2.3
5.8%
9.0%
8.5
6.8
RALS ACES
BUY BUY
0.1 0.2
1140 830
(1.3) 0.6
(2.56) (4.60)
(4.2) 7.1
76.7 0.6
1492 972
1570 960
37.7 15.7
20.7 23.1
17.5 21.3
2.3 4.6
2.1 4.0
11.0% 20.0%
12.1% 18.7%
16.5 15.9
15.5 14.0
LPPF Average Telco
BUY
0.7
14425
(2.5)
(1.87)
(4.5)
(18.0)
20568
23150
60.5
17.5 26.4
15.1 20.0
19.3 7.2
12.4 5.2
110.6% 82.3% 36.8% 30.5%
13.1 13.5
11.6 12.0
EXCL ISAT
HOLD HOLD
0.4 0.6
2340 6275
(1.7) 0.0
2.63 (0.40)
5.4 1.2
(35.0) 14.1
3200 7624
2200 6600
-6.0 5.2
292.5 38.5
30.0 17.1
1.2 2.5
1.1 2.3
0.4% 6.5%
3.7% 13.2%
5.3 4.1
4.6 3.7
TLKM Average
BUY
6.9
3920
(1.3)
0.26
2.1
26.8
4681
5000
27.6
20.0 117.0
16.3 21.1
4.5 2.7
3.9 2.4
22.3% 9.8%
24.0% 13.7%
7.7 5.7
7.0 5.1
Auto and HE ASII BUY
5.5
7775
(1.0)
(0.96)
2.0
29.6
8700
9000
15.8
17.0
14.1
2.8
2.4
16.7%
17.2%
14.5
14.0
1.5
22325
(0.7)
(3.98)
7.9
31.7
24056
25050
12.2
19.3
16.2
2.1
1.9
10.7%
11.9%
5.4
4.7
18.2
15.1
2.5
2.2
13.7%
14.6%
9.9
9.3
UNTR
BUY
Average Aviation GIAA Property
HOLD
0.2
370
(1.1)
(2.12) 12.1
19.7
394
445
20.3
19.5
14.2
0.7
1.0
3.8%
7.1%
1.1
3.4
BSDE PWON
HOLD HOLD
0.6 0.5
1770 620
(0.6) (3.1)
(5.09) (7.46)
0.3 (7.5)
(1.7) 25.0
2357 732
2350 710
32.8 14.5
13.9 22.3
11.3 20.6
1.5 3.7
1.3 3.3
11.1% 16.8%
11.8% 15.8%
10.2 8.9
8.9 7.7
KPIG ASRI
BUY HOLD
0.2 0.1
1365 376
(0.7) (1.6)
12.81 (1.57)
0.4 (1.1)
(3.2) 9.6
n/a 449
1810 438
32.6 16.5
31.7 11.7
26.8 10.9
1.1 1.1
1.1 1.0
3.5% 9.0%
4.1% 8.9%
n/a 5.9
n/a 5.1
SMRA Average
HOLD
0.4
1420
(4.4)
(3.07) 15.0
(13.9)
1698
1750
23.2
31.2 19.8
29.3 18.0
2.7 2.2
2.5 2.0
8.5% 11.4%
8.4% 11.3%
9.6 8.7
8.7 7.6
0.4
3890
(1.3)
(1.77)
2.3
5.6
5065
5100
31.1
23.8
20.5
3.3
3.0
13.9%
14.4%
10.0
8.8
0.1 0.6 0.4
2080 2530 2430
(1.9) (1.6) (2.0)
10.64 1.61 1.25
5.1 16.1 1.7
(2.8) 51.5 (0.6)
2556 3314 3004
2750 3250 3000
32.2 28.5 23.5
15.6 19.7 21.1
12.9 16.1 17.9
1.4 1.8 2.4
1.2 1.6 2.0
8.9% 9.2% 11.2%
9.5% 9.9% 11.4%
5.8 21.9 12.7
5.2 18.6 11.0
20.1
16.8
2.2
2.0
10.8%
11.3%
12.6
10.9
15.6% 13.8%
14.4% 13.0%
7.8 5.6
6.6 4.6
Construction PTPP BUY ADHI WSKT WIKA
BUY BUY BUY
Average Cement INTP SMGR
HOLD HOLD
1.1 1.0
16600 9300
(1.2) 0.0
4.24 0.81
14.5 13.4
(25.6) (18.4)
16367 10546
18000 10000
8.4 7.5
14.8 14.0
14.5 13.5
2.3 1.9
2.1 1.8
SMCB
SELL
0.1
910
(2.2)
1.68
5.2
(8.5)
912
920
1.1
29.8
19.3
0.8
0.7
2.6%
3.9%
10.0
8.1
19.6
15.8
1.7
1.5
10.7%
10.4%
7.8
6.5
Average Precast WSBP
BUY
0.3
570
(0.9)
0.88
n/a
n/a
693
690
21.1
28.1
22.4
2.4
2.1
8.4%
9.6%
22.7
17.7
WTON
BUY
0.1
840
(2.3)
(1.18)
2.4
1.8
1093
1150
36.9
26.1
19.8
2.7
2.2
10.2%
10.9%
19.1
14.9
27.1
21.1
2.5
2.2
9.3%
10.2%
20.9
16.3
Average
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Page 4 of 7
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 HOLD TINS HOLD 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 HOLD AKRA BUY DOID
Upside (%)
PE
PBV
ROE
EV/EBITDA (x)
16E
17E
16E
17E
16E
17E
16E
17E
1.2 0.6
2880 4530
(1.4) 0.9
1.77 5.35
29.1 7.6
4.9 (13.1)
3067 5792
3375 6500
17.2 43.5
12.4 17.3 14.8
10.2 17.1 13.7
1.5 2.6 2.1
1.4 2.4 1.9
12.3% 15.3% 13.8%
13.5% 13.9% 13.7%
18.9 10.9 14.9
18.0 10.5 14.2
0.4 0.6 0.2 0.4 0.9 0.5
880 3240 1175 17650 1690 12600
(2.2) (0.3) (5.2) 3.2 (0.6) (0.2)
(8.33) (3.86) (8.20) 5.37 (2.31) (3.45)
(0.6) 4.9 13.0 10.3 15.4 9.8
180.3 98.2 132.7 208.3 228.2 178.5
816 2679 848 18207 1814 14145
840 2800 850 19000 2100 15000
-4.5 -13.6 -27.7 7.6 24.3 19.0
440.0 249.2 117.5 14.9 15.1 21.1 143.0
125.7 35.2 56.0 7.6 12.8 13.0 41.7
1.1 1.3 1.7 1.7 1.1 3.0 1.7
1.1 1.3 1.6 1.5 1.1 2.6 1.5
0.3% 0.5% 1.4% 11.3% 7.6% 14.1% 5.9%
0.9% 3.7% 2.9% 19.6% 8.5% 19.9% 9.2%
36.0 213.8 8.8 91.3 88.1 15.9 75.6
28.6 138.0 7.6 103.4 78.5 9.8 61.0
0.6 0.2 0.1
16900 1720 505
(1.3) 0.0 0.0
(5.06) (8.99) (0.98)
11.2 9.9 3.5
11.9 30.3 52.1
17495 1746 558
17000 1830 600
0.6 6.4 18.8
19.5 24.2 18.0 20.6
18.5 15.5 11.5 15.2
2.1 1.5 0.6 1.4
2.0 1.4 0.6 1.3
10.7% 6.3% 3.1% 6.7%
10.7% 9.1% 4.9% 8.2%
14.6 7.1 6.0 9.2
13.3 5.8 5.6 8.2
0.9 0.3 0.0
3150 1715 1260
(0.3) 4.6 (3.1)
(0.63) 8.54 (3.08)
0.3 (2.0) (3.8)
21.2 170.1 (17.4)
3820 2335 2073
4800 2240 2280
52.4 30.6 81.0
14.9 10.3 7.4 10.9
13.3 9.4 6.8 9.8
1.9 2.1 1.2 1.8
1.7 1.8 1.1 1.5
13.0% 20.7% 16.3% 16.7%
12.8% 18.7% 15.6% 15.7%
12.3 9.2 10.4 10.6
11.2 11.9 8.6 10.6
0.4 0.1
6300.0 520.0
-2.7 -3.7
-2.7 -1.0
-3.4 15.6
-12.2 863.0
7345.5 na
6900 850
9.5 63.5
22.6 9.3 15.9
20.1 4.9 12.5
3.7 2.7 3.2
3.3 1.8 2.5
16.2% 28.7% 22.5%
16.3% 35.9% 26.1%
14.8 26.3 20.6
11.9 25.3 18.6
Average Source: SSI Research, Bloomberg Note: GIAA, PGAS, ITMG, ADRO, INCO report in USD.
www.samuel.co.id
TP SSI (Rp)
Page 5 of 7
Regional Indices
1D Change Points
World
(10.29)
Last Price
Change (%)
1 Year
1D
3D
1W
1M
3M
YTD
1YR
High
Low
1,764
(0.58)
0.20
0.61
3.64
3.45
6.07
7.11
1,776
1,460
U.S. (S&P)
(18.44)
2,253
(0.81)
(0.28)
0.53
3.34
4.94
10.24
10.27
2,278
1,810
U.S. (DOW) Europe
(118.68) (25.00)
19,793 3,212
(0.60) (0.77)
0.18 0.44
1.24 2.21
4.59 5.31
8.68 8.00
13.59 (1.71)
12.94 (0.92)
19,966 3,345
15,451 2,673
Emerging Market
(4.44)
873
(0.51)
(0.58)
0.59
3.72
(1.82)
9.90
11.98
930
687
FTSE 100
(19.38)
6,949
(0.28)
(0.07)
0.68
2.30
3.25
11.32
n/a
7,130
5,500
CAC 40
(34.63)
4,769
(0.72)
0.11
1.59
5.13
9.06
2.85
3.36
4,808
3,892
Dax
(39.81)
11,245
(0.35)
0.37
2.35
4.75
7.80
4.67
7.60
11,300
8,699
Indonesia
(30.80)
5,263
(0.58)
(0.77)
(0.19)
3.63
(0.06)
14.58
19.36
5,492
4,370
Japan
155.00
19,409
0.81
1.32
3.43
9.85
18.31
1.97
4.54
19,869
14,864
Australia
(34.12)
5,551
(0.61)
(0.22)
0.12
4.21
5.93
4.81
13.06
5,611
4,707
Korea
(10.63)
2,026
(0.52)
(0.05)
(0.24)
2.98
1.34
3.31
4.83
2,074
1,818
Singapore
(1.17)
2,954
(0.04)
(0.07)
(0.20)
5.59
5.29
2.47
4.92
2,981
2,528
Malaysia
(1.99)
1,643
(0.12)
(0.03)
0.83
0.78
(0.59)
(2.91)
1.26
1,729
1,601
Hong Kong
9.92
22,457
0.04
(1.34)
(1.51)
0.59
(3.77)
2.47
5.56
24,364
18,279
China Taiwan
(14.51) (13.62)
3,141 9,369
(0.46) (0.15)
(2.86) (0.26)
(2.54) 1.13
(2.07) 4.90
4.59 5.24
(11.26) 12.36
(10.54) 16.04
3,685 9,430
2,638 7,628
Thailand Philipines
(8.96) 47.43
1,521 6,928
(0.59) 0.69
(0.27) (1.63)
0.31 0.90
3.03 1.04
3.95 (10.12)
18.11 (0.34)
16.97 3.39
1,558 8,118
1,221 6,084
1D Change Points
Last Price
0.00 n/a
4.20 111.47
n/a
Monetary Indicators JIBOR Overnight (%) Foreign Reserve (US$bn) Inflation Rate (%)
US Fed Rate (%) 0.25 Indo Govt Bond Yld (10yr) - % (0.00) Exchange Rate (per US$)
1D Change
Currency
Points
Indonesia Japan
(13.00) 0.65
UK Euro China Commodities Indicators
Change (%)
1 Year
1W
1M
3M
YTD
1YR
High
Low
0.08 n/a
9.09 (3.10)
(1.43) (1.83)
(44.68) 5.23
(28.17) 11.20
8.26 115.67
4.20 102.13
0.47
n/a
235.71
2450.00
(51.04)
123.81
0.96
(0.45)
0.75 7.83
50.00 3.82
50.00 (0.72)
50.00 10.72
50.00 (10.45)
200.00 (13.52)
0.75 9.11
0.25 6.77
Last Price
Change (%)
1 Year
1D
3D
1W
1M
3M
YTD
1YR
High
Low
13295 117.69
0.10 (0.55)
0.25 (2.27)
0.25 (3.10)
0.53 (7.21)
3.71 2.15
3.71 2.15
5.90 3.39
14,063 123.56
12,920 99.02
(0.00) (0.01)
1.25 1.05
(0.33) (0.47)
(1.23) (1.40)
(0.50) (1.22)
0.53 (2.20)
(15.02) (3.46)
(15.02) (3.46)
(16.73) (4.07)
1.50 1.16
1.18 1.05
0.00
6.90
(0.03)
0.04
(0.41)
(0.65)
(5.96)
(5.96)
(6.46)
6.92
6.45
1D
3D
1W
1M
3M
YTD
1YR
High
Low
11.02
15.83
37.31
36.17
54.51
26.05
1D Change
Last Price
Change (%)
1 Year
Spot
Points
Oil
(0.18)
50.86
(0.35)
(3.73)
0.04
CPO
24.00
3,095.00
0.78
0.26
(1.93)
9.06
22.19
24.55
25.10
3,157.00
2,172.00
Rubber
47.00
923.00
5.37
5.37
8.14
18.26
38.69
71.08
54.48
923.00
506.50
Coal
0.45
82.00
0.55
2.82
5.87
(13.68)
15.90
62.06
56.79
112.25
51.75
Iron Ore
(1.22)
82.48
(1.46)
1.66
2.77
7.72
49.96
90.05
117.63
83.70
37.50
(210.00)
21,240.00
(0.98)
0.83
0.02
1.49
10.44
45.57
44.42
21,945.00
13,223.80
Nickel
30.00
11,420.00
0.26
(0.44)
0.09
1.42
16.06
29.48
30.51
12,145.00
7,550.00
Copper
32.00
5,722.00
0.56
(1.79)
(1.09)
2.93
19.92
21.62
22.47
6,045.50
4,318.00
Gold
(26.90)
1,135.50
(2.31)
(2.51)
(3.04)
(7.27)
(13.58)
7.09
6.94
1,377.50
1,046.70
Tin
Source: SSI Research, Bloomberg
www.samuel.co.id
Page 6 of 7
Research Team Andy Ferdinand, CFA
[email protected]
+6221 2854 8148
Rangga Cipta
Head Of Equity Research,Strategy, Banking, Consumer Economist
[email protected]
+6221 2854 8396
Muhamad Makky Dandytra, CFTe
Technical Analyst
[email protected]
+6221 2854 8382
Akhmad Nurcahyadi, CSA
[email protected]
+6221 2854 8144
Arandi Ariantara
Auto, Aviation, Cigarette, Construction Healthcare, Heavy Equipment, Property 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
[email protected]
+6221 2854 8380
Muhamad Alfatih CSA, CTA, CFTe
Head of PWM / Head of Institutional Marketing 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
Wahyudi Budiono
Dealer
[email protected]
+6221 2854 8152
Kelvin Siwah Long
Head of Equities
[email protected]
+6221 2854 8150
Yulianah
Institutional Equity Sales
[email protected]
+6221 2854 8146
Indra S. Affandi
Institutional Equity Sales
[email protected]
+6221 2854 8334
Lucia Irawati
Head of Retail Equity Sales
[email protected]
+6221 2854 8173
Ferry Khusaeri
Equity Sales
[email protected]
+6221 2854 8304
Iwan Setiadi
Equity Sales
[email protected]
+6221 2854 8313
Lia Chaterina
Equity Sales
[email protected]
+6221 2854 8315
Amelia Sintama
Equity Sales
[email protected]
+6221 2854 8308
Salt World Widjaja
Equity Sales
[email protected]
+6221 2854 8163
Jovita Widjaja
Equity Sales
[email protected]
+6221 2854 8314
James Wihardja
Equity Sales
[email protected]
+6221 2854 8397
Joseph Soegandhi
Equity Sales
[email protected]
+6221 2854 8872
Dian Anggraeni
Equity Sales
[email protected]
+6221 2854 8301
Sylviawati
Equity Sales
[email protected]
+6221 2854 8112
Verawati Gunawan
Equity Sales
[email protected]
+6221 2854 8312
Cenni Liawisusi
Equity Sales
[email protected]
+6221 2854 8303
Frans Ferdiansah
Equity Sales
[email protected]
+6221 2854 8337
Muhamad Faisyal
Dealer
[email protected]
+6221 2854 8155
Wulan Budi Setyowati
Dealer
[email protected]
+6221 2854 8369
Bismar Ferryaman
Dealer
[email protected]
+6221 2854 8368
Nugroho Nuswantoro
Head Of Marketing OLT
[email protected]
+6221 2854 8372
Wahyu Widodo
Marketing
[email protected]
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Rina Lestari
Customer Service
[email protected]
+6221 2854 8180
Martha Lamtiurma Tampubolon
Customer Service
[email protected]
+6221 2854 8182
Mohamad Andhika Prasetia
Customer Service
[email protected]
+6221 2854 8183
Private Wealth Management Evelyn Satyono
Equity Sales Team
Online Trading Sales Team
DISCLAIMERS : Analyst Certification : The views expressed in this research accurately reflect the personal views of the analyst(s) about the 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 views in this research. The analyst(s) principally responsible for the preparation of this research has taken reasonable care to achieve and maintain independence and objectivity in making any recommendations. This document is for information only and for the use of the recipient. It is not to be reproduced 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 for all investors. Moreover, although the information contained herein has been obtained from sources believed to be reliable, its accuracy, completeness and reliability cannot be guaranteed. All rights reserved by PT Samuel Sekuritas Indonesia.
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Page 7 of 7
