Riset Saham Harian Samuel Research
13 Juni 2017
Market Activity
IHSG berpeluang kembali tertekan
Tuesday, 13 Jun 2017 Market Index Index Movement Market Volume Market Value Last Close
: : : :
5,691.4 +15.9 (+0.3%) Mn shrs 4,050 5,327 Bn rupiah Changes +/%
Leading Movers BBRI GGRM ASII UNTR
14,625 77,750 8,725 27,075
250 2250 75 575
1.7 3.0 0.9 2.2
Lagging Movers UNVR HMSP NIKL KLBF
47,200 3,830 4,500 1,535
-350 -10 -280 -15
-0.7 -0.3 -5.9 -1.0
Foreign Net Buy / Sell Net Buy (Rpbn) SMGR 30 UNTR 27 GGRM 24 JPFA 15 TLKM 15
saham-saham teknologi, setelah pelemahan yang terjadi pada perdagangan Jumat lalu. Realisasi defisit anggaran AS pada bulan Mei yang melebar ke 88,4 miliar Dolar AS (dari 52,5 miliar Dolar AS), serta penantian para investor atas pertemuan FOMC yang dijadwalkan pada 13-14 Juni mendatang turut berkontribusi menekan pergerakan saham – saham Wall Street. Sama seperti Bursa AS, mayoritas bursa Eropa juga ditutup melemah, didorong oleh faktor politik yang terjadi di UK dan Perancis. Dari pasar komoditas, harga minyak ditutup meningkat. Sama seperti harga minyak,
Net Sell (Rpbn) BBCA 53 ASII 43 BMRI 42 HMSP 24 INDF 23
Money Market Last Close 13,297 4.4 0.4
Changes +/% 5.0 0.0 0.0 -
Dual Listing Securities Last Close TLKM 32.5 ISAT 40.0 EIDO 26.8
Changes +/% 0.0 0.2 0.4 1.0 0.2 0.6
USD/IDR JIBOR O/N Infl (MoM)
Bursa AS ditutup melemah pada Senin lalu seiring berlanjutnya penurunan
harga batubara kembali meningkat dan mencapai sekitar USD 81/MT. Senin kemarin, IHSG ditutup menguat 0.28% ke level 5691.4 ditengah merahnya sejumlah pasar regional dan Eropa menjelang pertemuan FOMC yang akan dilaksanakan Selasa-Rabu mendatang. Meskipun EIDO cenderung naik, masih berlangsungnya pelemahan mayoritas bursa pagi ini, menyebabkan besar peluang IHSG untuk tertekan pada hari ini.
Highlights
Toll Road: Volume lalu lintas keluar Jakarta ditaksir 1,57 juta, naik 36% dari normal
World Indices
DJIA S&P 500 Euro Stoxx MSCI World Nikkei Hang Seng
Last Close 21,236 2,429 3,544 1,919 19,872 25,708
Changes +/% -36 -0.2 -2 -0.1 -42 -1.2 -4 -0.2 -37 -0.2 -322 -1.2
Last Close 48 2,420 81 8,760 19,180
Changes +/% 0.1 0.3 20.0 0.8 0.4 0.4 -188.5 -2.1 250.0 1.3
TPIA: Tetap produksi meski terjadi kebakaran, rights issue berpotensi oversubscribed
CTRA: Akan luncurkan empat proyek baru
Batubara: Awas harga bisa turun lagi
BMRI: Kredit diperkirakan tumbuh 11-13%
Commodities
Brent Oil CPO Malay Coal Newc Nickel Tin
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Page 1 of 7
Riset Saham Harian 13 Juni 2017 Toll Road: Volume lalu lintas keluar Jakarta ditaksir 1,57 juta, naik 36% dari normal
PT Jasa Marga Tbk (JSM) memprediksi volume lalu lintas yang keluar Jakarta sejak H-7 Lebaran mencapai 1,57 juta kendaraan, naik 36% dari kondisi normal, dan meningkat 5% yoy. JSMR disebut akan mengoperasikan 218 km jalan tol untuk Lebaran tahun ini.
Sebanyak 6 ruas tol sepanjang 176 km diberlakukan secara fungsional, yaitu ruas Kandeman – Gringsing, Bawen – Salatiga, Ngasem – Widodaren, Ngawi – Wilangan, Krian – Sepanjang, Gempol – Bangil, dan Kualanamu – Sei Rampah. Selain itu, dengan difungsikannya jalan tol Semarang – Batang dengan akses keluar di Gringsing, maka gerbang tol Manyaran diprediksi akan mengalami peningkatan volume.
Dari sisi tarif, JSMR berencana memberikan diskon tarif tol sebesar 20% bagi pengguna jalan tol yang memakai kartu elektronik pada tanggal 23 – 26 Juni 2017 dan 30 Juni – 2 Juli 2017. (Investor Daily). JSMR: BUY; 17E’ PE: 19.4, PBV: 2.7x.
TPIA: Tetap produksi meski terjadi kebakaran, rights issue berpotensi oversubscribed
PT Chandra Asri Petrochemical Tbk (TPIA) mengklaim, kebakaran yang terjadi di salah satu tungku pengolahan nafta tidak berdampak signifikan terhadap pasokan produk ke klien dan perseroan masih tetap memproduksi olefin dan sejumlah produk turunannya.
Di berita lain, pre-marketing sale atas rencana rights issue tercatat melebihi US$ 303 juta, sehingga berpotensi penyerapan di di pasar mengalami oversubscribed minimal 0,65x. TPIA menargetkan memperoleh dana sebesar US$ 463 juta atau sekitar Rp 6 triliun melalui rights issue. Rights issue ini selain untuk memenuhi ketentuan syarat free float 7,5% dari OJK, juga untuk membiayai sebagian belanja modal yang mencapai US$ 1 miliar hingga 2019. (Investor Daily, Kontan). TPIA: Non-Coverage.
CTRA: Akan luncurkan empat proyek baru
PT Ciputra Development, Tbk (CTRA) akan meluncurkan empat proyek terbaru di sepanjang sisa tahun ini, setelah meluncurkan dua proyek pada Mei lalu.
Adapun satu dari tiga proyek adalah landed residential Sadana -Ciputra Beach Resort di bali, sedangkan tiga proyek lainnya adalah high rise apartemen, yaitu The Newton 2 dan The Suites Apartment di CWJ 2. (Bisnis Indonesia). CTRA. BUY 12.9x P/E17E dan 1.3x PBV 17E.
Batubara: Awas harga bisa turun lagi
Salah satu sentimen yang bisa menekan harga batubara adalah rendahnya harga gas alam. Energy Information Administration melaporkan, rendahnya harga gas alam membuat konsumsi batubara AS tahun lalu mencapai level terendah sejak 1984. Hal ini berpotensi membuat konsumen beralih ke gas alam dan menekan harga batubara. (Kontan). Batubara: Neutral.
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Page 2 of 7
Riset Saham Harian 13 Juni 2017 BMRI: Kredit diperkirakan tumbuh 11-13%
BMRI memperkirakan kredit tumbuh 11-13% di tahun ini dengan fokus pada kredit korporasi yang berkualitas baik. Per bulan ini, kredit diperkirakan tumbuh hampir 10%yoy.
Di 2H17, suku bunga dana diperkirakan naik seiring kompetisi perebutan dana yang lebih ketat dan kenaikan suku bunga AS.
Perseroan tengah merencanakan pembukaan cabang di luar negeri, seperti Filipina dan Myanmar. Pada akhir tahun ini, sebuah cabang dipastikan akan dibuka di Malaysia.
Terkait national payment gateway, BMRI terus mendukung program itu demi terciptanya efisiensi biaya. BI sangat menginginkan hal itu supaya ada sistem pembayaran lokal, dimana saat ini transaksi lokal harus melalui routing luar negeri atau melalui jaringan Visa dan MasterCard. (Investor Daily) Comment:
Prediksi pertumbuhan kredit itu masih sejalan dengan perkiraan kami. Di sisi topline, kenaikan kredit kami lihat akan mengkompensasi penurunan NIM dan membantu menopang pendapatan bunga bersih yang diperkirakan belum akan meningkat siknifikan di tahun ini.
Setelah menurun 32%yoy pada tahun lalu, laba bersih di tahun ini diperkirakan kembali tumbuh seiring pembaikan NPL dan penurunan biaya pencadangan.
Kami masih merekomendasikan Buy untuk BMRI dengan target price Rp 14.000. BMRI: BUY; 17E’ PE: 14.4x, PBV: 1.6x
www.samuel.co.id
Page 3 of 7
Riset Saham Harian 13 Juni 2017 Stock
Rec.
Mkt Cap
Last price
1D Chg
YTD Chg
TP Cons
TP SSI
Upside
PE
PE
PBV
PBV
ROE
ROE
(Rp bn)
(Rp)
(%)
(%)
(Rp)
(Rp)
(%)
17E
18E
17E
18E
17E
18E
Banks BMRI BBCA
BUY HOLD
285,250 437,626
12225 17750
0.0 0.3
5.6 14.5
12252 18592
14000 18000
14.5 1.4
14.4 18.9
11.7 17.8
1.6 3.4
1.4 2.9
11.3% 17.9%
12.0% 16.5%
BBRI BBNI
BUY BUY
360,786 120,284
14625 6450
1.7 0.8
25.3 16.7
14798 7149
15550 7350
6.3 14.0
12.9 8.9
11.3 7.7
2.2 1.2
1.9 1.1
16.8% 13.9%
16.8% 14.2%
BBTN BNLI
BUY BUY
27,216 18,648
2570 665
0.4 (0.7)
47.7 24.0
2658 803
2870 890
11.7 33.8
8.7 12.5
8.1 13.9
1.3 0.8
1.1 0.8
14.4% 6.7%
13.7% 5.7%
12.7
11.7
1.7
1.5
0.1
0.1
Average Consumer (Staples) ICBP INDF
BUY BUY
98,835 74,414
8475 8475
2.8 2.5
(1.2) 6.9
9521 9588
10300 9900
21.5 16.8
23.8 15.9
20.9 13.8
4.9 2.3
4.4 2.1
20.8% 14.2%
20.9% 14.9%
KLBF ROTI
BUY BUY
71,953 6,479
1535 1280
(1.0) 0.4
1.3 (20.0)
1718 1793
1750 2050
14.0 60.2
29.0 18.6
25.6 15.8
5.4 3.8
4.8 3.2
18.7% 20.5%
18.7% 20.2%
ULTJ UNVR
BUY HOLD
14,875 360,136
5150 47200
1.0 (0.7)
12.7 21.6
5700 46650
5300 45200
2.9 -4.2
19.4 50.4
17.5 45.0
3.7 58.8
3.1 51.5
18.9% 116.6%
17.5% 114.4%
SIDO AISA
BUY BUY
505 1850
(1.0) (0.8)
(2.9) (4.9)
682 2338
700 2500
38.6 35.1
14.0 11.9
11.2 9.8
2.7 1.4
2.5 1.2
18.9% 11.7%
22.4% 12.5%
22.9
20.0
10.4
9.1
30.0%
30.2%
34.5 22.0
33.3 20.8
11.8 3.1
10.8 2.8
34.3% 14.1%
32.4% 13.4%
28.3
27.1
7.5
6.8
24.2%
22.9%
36.6 156.2
33.5 122.8
7.2 5.1
6.5 4.7
19.6% 3.3%
19.3% 3.8%
96.4
78.1
6.1
5.6
11.4%
11.6%
7,575 5,954
Average Cigarette HMSP GGRM
BUY BUY
445,498 149,598
3830 77750
(0.3) 3.0
0.0 21.7
4168 77870
4390 77150
14.6 -0.8
Average Healthcare MIKA SILO
BUY HOLD
28,738 16,453
1975 12650
4.5 2.8
(23.2) 16.1
2862 13931
2950 12500
49.4 -1.2
Average Poultry CPIN JPFA
BUY BUY
49,194 15,575
3000 1365
(1.0) 5.4
(2.9) (6.2)
3210 1625
4500 1500
50.0 9.9
12.7 8.0
11.8 6.4
1.6 1.4
1.5 1.2
12.8% 18.0%
12.4% 18.9%
MAIN Average
BUY
2,485
1110
1.4
(14.6)
1304
2280
105.4
6.0 8.9
4.8 7.7
1.0 1.3
0.8 1.2
15.9% 15.6%
17.2% 16.2%
Retail MAPI
BUY
10,458
6300
0.0
16.7
7554
7700
22.2
41.7
30.1
3.0
2.7
7.2%
9.1%
RALS ACES
BUY HOLD
9,296 16,636
1310 970
0.8 (3.0)
9.6 16.2
1482 1018
1750 900
33.6 -7.2
20.2 23.7
16.0 20.2
2.4 5.2
2.2 4.4
12.0% 22.2%
13.9% 21.8%
LPPF Average
BUY
42,529
14575
(0.2)
(3.6)
16317
19500
33.8
15.4 25.2
14.8 20.3
12.5 5.8
8.9 4.6
81.1% 30.6%
60.0% 26.2%
Telco EXCL
BUY
36,125
3380
0.9
46.3
3459
3200
-5.3
91.4
60.4
1.7
1.6
1.8%
2.7%
ISAT TLKM
BUY BUY
34,505 436,464
6350 4330
2.4 0.0
(1.6) 9.3
8295 4815
8200 5000
29.1 15.5
17.4 18.0
12.5 14.0
2.3 4.3
2.1 3.7
13.4% 24.0%
16.7% 26.7%
TOWR Average
BUY
38,669
3790
3.8
5.9
4609
4500
18.7
11.0 34.5
10.4 24.3
2.7 2.8
2.1 2.4
24.5% 15.9%
20.7% 16.7%
Auto and HE ASII BUY
353,219
8725
0.9
5.4
9360
9000
3.2
15.8
13.4
2.7
2.2
17.2%
16.4%
100,993
27075
2.2
27.4
29544
31500
16.3
15.5 15.7
13.7 13.6
2.3 2.5
2.0 2.1
14.7% 15.9%
14.9% 15.7%
0.2%
1.7%
UNTR Average
BUY
Aviation GIAA
HOLD
9,112
352
(1.7)
4.1
372
420
19.3
264.4
26.4
0.6
0.4
Property BSDE
BUY
33,970
1765
(1.7)
0.6
2319
2350
33.1
15.8
13.6
1.4
1.2
8.7%
8.5%
PWON ASRI
BUY HOLD
28,896 6,249
600 318
(0.1) (1.2)
6.2 (9.7)
719 432
710 390
18.3 22.6
14.6 9.4
12.2 8.8
2.8 0.8
2.4 0.8
19.2% 8.8%
19.3% 8.7%
SMRA SSIA
HOLD BUY
18,033 2,917
1250 620
1.2 (0.8)
(5.7) 42.9
1596 912
1307 750
4.6 21.0
54.3 13.8
41.7 11.5
2.2 0.9
2.0 0.9
4.0% 6.6%
4.8% 7.5%
CTRA DMAS
BUY BUY
20,602 10,604
1110 220
1.8 1.9
(16.9) (4.3)
1568 309
1580 300
42.3 36.4
12.9 12.5
10.8 10.1
1.3 1.2
1.2 1.1
10.3% 9.7%
11.1% 10.8%
KIJA Average
BUY
6,695
324
(0.6)
11.0
400
450
38.9
14.1 18.4
12.5 15.1
1.1 1.5
1.0 1.3
7.8% 9.4%
8.1% 9.8%
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Page 4 of 7
Riset Saham Harian 13 Juni 2017 Construction PTPP BUY
19,158
3090
0.7
(18.9)
4604
4150
34.3
13.7
11.6
1.6
1.5
11.8%
ADHI
HOLD
7,834
2200
0.9
5.8
2701
2550
15.9
23.7
19.8
1.4
1.3
6.0%
6.5%
WSKT WIKA
BUY BUY
29,998 19,824
2210 2210
0.0 0.0
(13.3) (6.4)
3252 3090
3250 3000
47.1 35.7
13.2 17.8
10.5 15.6
1.5 1.4
1.5 1.3
11.7% 8.0%
14.2% 8.3%
17.1
14.4
1.5
1.4
9.4%
10.4%
-24.8 -6.7
18.1 14.1
17.1 12.8
2.3 1.8
2.2 1.7
12.9% 12.9%
12.6% 12.9%
Average
12.6%
Cement INTP SMGR
SELL HOLD
66,078 57,239
17950 9650
0.3 2.9
16.6 5.2
15733 9867
13500 9000
SMCB
SELL
5,862
765
(1.3)
(15.0)
825
700
-8.5
-31.9
-25.5
0.7
0.7
-2.3%
-2.8%
SMBR
HOLD
29,089
2940
(1.3)
5.4
539
2300
-21.8
77.4
73.5
7.7
6.8
10.0%
9.3%
19.4
19.5
3.2
2.8
8.4%
8.0%
Average Precast WSBP
BUY
12,653
480
(1.2)
(13.5)
678
690
43.8
18.9
12.3
1.5
1.3
8.0%
10.6%
WTON
BUY
5,796
665
(0.7)
(19.4)
1079
1150
72.9
17.5
15.1
1.9
1.6
10.9%
10.6%
18.2
13.7
1.7
1.5
9.4%
10.6%
Average Oil and Gas PGAS
HOLD
AKRA MEDC Average
BUY
56,968 25600.9
2350
0.4
(13.0)
3019
2600
10.6
12.9
10.5
1.2
1.1
9.4%
10.7%
6400.0
-0.8
6.7
7000.0
7600
18.8
21.8
21.6
3.3
3.0
15.2%
14.0%
BUY
8,798
2640
(1.5)
100.0
4213
4500
70.5
3.7 12.8
3.4 11.8
0.6 1.7
0.6 1.6
17.6% 14%
16.3% 14%
JSMR Metal
BUY
37,378
5150
0.5
19.2
5813
5000
-2.9
19.4
25.8
2.7
2.5
13.9%
9.8%
ANTM
BUY
16,942
705
(1.4)
(21.2)
833
1250
77.3
8.2
4.4
0.8
0.8
10.0%
17.8%
INCO
BUY
18,780
1890
1.1
(33.0)
2580
3500
85.2
20.5
12.0
0.8
0.7
3.7%
6.2%
TINS Average
BUY
5,772
775
0.6
(27.9)
1278
1200
54.8
36.9 21.9
22.8 13.1
1.1 0.9
1.0 0.9
2.9% 5.5%
4.5% 9.5%
Utilities
Coal DOID ITMG ADRO
BUY
875.0
-1.1
71.6
1587.5
1600
82.9
6.0
6.2
2.6
1.8
44.0%
28.6%
BUY BUY
7442.7 19,322 49,258
17100 1540
(0.4) (1.0)
1.3 (9.1)
21406 2027
19000 2100
11.1 36.4
7.4 11.7
6.5 10.6
1.4 1.0
1.3 0.9
19.6% 8.5%
20.5% 8.7%
PTBA
BUY
25,461
11050
(1.8)
(11.6)
15179
15000
35.7
11.4
9.2
2.3
2.0
19.9%
21.5%
9.1
8.1
1.8
1.5
23.0%
19.8%
Average Plantation AALI
BUY
27,331
14200
(0.2)
(15.4)
18014
19800
39.4
15.6
13.1
1.7
1.6
10.7%
12.1%
LSIP
BUY
9,586
1405
0.0
(19.3)
1716
2050
45.9
12.7
9.8
1.2
1.1
9.1%
10.9%
SIMP Average
HOLD
8,778
555
(0.9)
12.3
583
600
8.1
11.8 13.3
10.9 11.3
0.6 1.1
0.6 1.1
5.0% 8.3%
5.2% 9.4%
Source: SSI Research, Bloomberg Note: GIAA, PGAS, ITMG, ADRO, MEDC, INCO, DOID report in USD.
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Page 5 of 7
Riset Saham Harian 13 Juni 2017 Regional Indices
1D Change Points
World
(4.09)
Last Price
Change (%)
1 Year
1D
3D
1W
1M
3M
YTD
1YR
High
Low
1,919
(0.21)
(0.29)
(0.38)
1.36
3.71
9.56
16.59
1,936
1,567
U.S. (S&P)
(2.38)
2,429
(0.10)
(0.15)
(0.28)
1.61
2.36
8.51
16.85
2,446
1,992
U.S. (DOW)
(36.30)
21,236
(0.17)
0.29
0.24
1.62
1.70
7.45
19.76
21,305
17,063
Europe
(42.12)
3,544
(1.17)
(0.14)
(0.99)
(2.57)
3.76
7.70
24.20
3,667
2,678
Emerging Market
(9.26)
1,009
(0.91)
(1.00)
(0.69)
0.65
7.50
17.01
24.64
1,023
792
FTSE 100 CAC 40
(15.46) (59.12)
7,512 5,241
(0.21) (1.12)
0.44 (0.47)
(0.18) (1.27)
1.03 (3.05)
1.97 4.82
5.17 7.78
n/a 23.98
7,599 5,442
5,789 3,956
Dax
9,214
(125.28)
12,690
(0.98)
0.14
(1.03)
(0.63)
5.84
10.53
31.41
12,879
Indonesia
15.91
5,691
0.28
(0.45)
(0.99)
0.29
5.21
7.45
18.39
5,874
4,754
Japan
(35.83)
19,873
(0.18)
(0.18)
(0.54)
(0.06)
1.22
3.97
24.06
20,240
14,864
Australia Korea
43.80 10.49
5,722 2,368
0.77 0.44
0.96 0.20
(0.58) (0.01)
(1.98) 3.60
(0.94) 11.84
0.98 16.87
7.70 19.67
5,957 2,385
5,051 1,893
Singapore Malaysia
(5.85) 3.32
3,248 1,789
(0.18) 0.19
0.55 (0.12)
0.31 0.67
(0.21) 0.73
3.22 4.15
12.76 8.96
16.62 9.00
3,275 1,795
2,703 1,612
Hong Kong
(322.25)
25,708
(1.24)
(1.02)
(0.60)
2.19
7.88
16.85
25.33
26,090
19,663
China Taiwan
(18.52) (89.69)
3,140 10,110
(0.59) (0.88)
(0.01) (0.98)
1.56 (1.14)
1.83 1.23
(3.00) 4.25
1.17 9.26
10.83 18.44
3,301 10,268
2,808 8,374
Thailand Philipines
(2.84) 31.61
1,564 7,990
(0.18) 0.40
(0.18) 0.47
(0.19) 1.04
1.29 2.24
1.84 11.81
1.35 16.81
9.98 6.40
1,601 8,118
1,343 6,499
1D Change Points
Last Price
(0.00) n/a
4.40 124.95
n/a 0.00 0.00
Monetary Indicators JIBOR Overnight (%) Foreign Reserve (US$bn) Inflation Rate (%)
US Fed Rate (%) Indo Govt Bond Yld (10yr) - % Exchange Rate (per US$)
1D Change
Currency
Points
Indonesia Japan
5.00 0.02
UK Euro China Commodities Indicators Spot Oil
Change (%)
1 Year
1W
1M
3M
YTD
1YR
High
Low
0.07 n/a
3.49 1.38
0.03 4.25
3.85 7.38
(11.23) 20.62
5.58 124.95
4.16 109.79
0.39
n/a
333.33
69.57
(7.14)
62.50
0.97
(0.02)
1.00 6.90
0.00 (0.66)
0.00 (3.32)
33.33 (7.77)
33.33 (13.47)
100.00 (9.64)
1.00 8.36
0.50 6.77
Last Price
Change (%)
1 Year
1D
3D
1W
1M
3M
YTD
1YR
High
Low
13297 109.97
(0.04) (0.02)
0.06 0.05
(0.08) (0.51)
0.25 3.47
1.32 6.36
1.32 6.36
(0.14) (3.37)
13,593 118.66
12,920 99.02
0.00 (0.00)
1.27 1.12
0.08 (0.04)
(2.22) (0.14)
(1.87) (0.70)
(1.76) 2.03
2.67 6.48
2.67 6.48
(11.22) (0.83)
1.50 1.14
1.18 1.03
0.00
6.80
(0.00)
(0.04)
0.09
1.49
2.16
2.16
(3.13)
6.96
6.57
1D 0.17
3D 1.14
1W (4.21)
1M (3.51)
3M (4.63)
YTD (14.07)
1YR (5.56)
High 55.24
Low 39.19
1D Change Points 0.08
Last Price 46.16
Change (%)
1 Year
CPO
20.00
2,420.00
0.83
0.71
(0.37)
(6.17)
(11.09)
(22.16)
(5.47)
3,202.00
2,172.00
Rubber Coal
(16.50) 0.35
812.50 81.05
(1.99) 0.43
(6.50) 1.76
(13.47) 5.26
(7.04) 11.72
(26.57) 4.11
(16.88) (14.41)
19.75 55.57
1,174.00 112.25
644.00 69.00
Iron Ore
(0.31)
54.69
(0.56)
(1.76)
(1.25)
(6.88)
(36.01)
(29.94)
10.71
94.91
48.60
Tin
250.00
19,180.00
1.32
(1.20)
(5.26)
(3.98)
(0.96)
(9.55)
12.14
21,945.00
17,000.00
Nickel
(185.00)
8,795.00
(2.06)
(0.17)
(1.29)
(5.58)
(11.12)
(12.23)
(1.46)
12,145.00
8,700.00
Copper Gold
(32.00) (2.10)
5,772.00 1,265.10
(0.55) (0.17)
2.69 (0.97)
2.56 (2.32)
3.82 3.05
0.70 5.15
4.27 10.01
27.98 (1.58)
6,204.00 1,377.50
4,495.50 1,124.70
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, Toll Road, Oil and Gas
[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
Nadya Swastika
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 and 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
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