Riset Saham Harian Samuel Research
07 Februari 2017
Market Activity
Masih ada peluang IHSG untuk menguat
Tuesday, 07 Feb 2017 Market Index Index Movement Market Volume Market Value Last Close
: : : :
5,396.0 +35.2 (+0.7%) Mn shrs 4,050 5,327 Bn rupiah Changes +/%
Leading Movers HMSP 3,980 BMRI 11,375 PGAS 3,010 BBCA 15,600
70 300 140 125
1.8 2.7 4.9 0.8
Lagging Movers UNVR 41,700 PTBA 11,200 MIKA 2,420 TBIG 5,000
-300 -550 -40 -125
-0.7 -4.7 -1.6 -2.4
Foreign Net Buy / Sell Net Buy (Rpbn) BBRI 331 BMRI 325 BBCA 94 BBNI 89 ASII 76
Net Sell (Rpbn) UNVR 43 TLKM 32 ITMG 14 PNLF 13 TBIG 11
Money Market Last Close 13,320 4.2 1.0
Changes +/% -25.0 0.2 0.0 -
Dual Listing Securities Last Close TLKM 29.5 ISAT 40.8 EIDO 24.9
Changes +/% 0.0 0.0 -0.3 -0.6 0.0 0.0
USD/IDR JIBOR O/N Infl (MoM)
World Indices
DJIA S&P 500 Euro Stoxx MSCI World Nikkei Hang Seng
Last Close 20,052 2,293 3,238 1,798 18,830 23,348
% -0.1 -0.2 -1.1 -0.4 -0.8 0.9
Commodities Brent Oil CPO Malay Coal Newc Nickel Tin
Last Close 56 2,991 81 10,421 19,173
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Dari dalam negeri, kemarin IHSG ditutup menguat 0.35% ke 5395.99 ditengah penguatan nilai tukar rupiah dan laporan GDP yang tercatat lebih rendah di 4Q16 (4.94% vs 5.02% dan vs 5.00% survey). Kami melihat masih ada ruang bagi IHSG untuk menguat pada perdagangan hari ini. Di tengah penantian keluarnya hasil laporan kinerja emiten FY16, beberapa emiten yang kinerjanya relatif sesuai dengan ekspektasi seperti BBRI dan BBNI dapat menjadi sentimen positif untuk pergerakan IHSG. Sentimen negatif atas tren pelemahan dolar AS juga dapat menjadi katalis positif untuk pergerakan IHSG. Highlights ADRO: Bidik pembangikit listrik Non-Batubara BUMI: Akan Kurangi Utang Anak Usaha JSMR: Menggandeng UEM Group membangun tol
Changes +/-19 -5 -35 -7 -147 219
Semalam bursa AS dan Eropa ditutup melemah, di mana investor sebagian besar terfokus pada suhu politik di Prancis, menyusul pencalonan Marine Le Pen sebagai presiden, selain itu harga minyak yang turun 1.5% juga turut menjadi sentimen negatif atas bursa global. Sementara itu, bursa utama regional Asia pada pagi ini dibuka dengan kecenderungan beragam.
Changes +/% -1.1 -1.9 9.0 0.3 -1.7 -2.0 223.5 2.2 -544.0 -2.8
Cigatas Telekomunikasi : Lelang frekuensi diminta dipercepat BRNA: Menambah kapasitas pabrik EXCL: Ajak TLKM kerja sama backbone Perbankan: NPL masih diwaspadai
Page 1 of 7
Riset Saham Harian 07 Februari 2017
ADRO: Bidik pembangikit listrik Non-Batubara
PT Adaro Energy Tbk (ADRO) melalui anak usahanya, PT Adaro Power, menjajaki pengembanganpembangkit listrik berbahan bakar non-batubara. Perseroan tengah mengikuti tender pembangkit listrik berbahan bakar gas dan energi terbarukan (renewable energy).
Ada dua kategori pembangkit listrik yang dibidik, yaitu pembangkit listrik yang berdekatan dengan lokasi tambang dan pembangunan pembangkit berbahan bakar gas.
Adaro Power juga tertarik untuk mengembangkan pembangkit listrik tenaga terbarukan (renewable). ADRO tengah membangun pembangkit listrik tenaga sur ya (PLTS) berkapasitas 2 megawatt (MW), dengan biaya investasi sekitar US$ 1 juta per MW. (Investor Daily). ADRO: BUY. P/E 17E: 13.2x PBV 17E: 1.1x) BUMI: Akan Kurangi Utang Anak Usaha
PT Bumi Resources Tbk (BUMI) akan menggelar Rapat Umum Pemegang Saham (RUPS) untuk meminta persetujuan rights issue. Aksi korporasi ini bakal memangkas utang sekitar US$2,6 miliar dan memotong beban bunga lebih dari US$ 250 juta.
Selain berharap pada kenaikan harga komoditas, BUMI juga mengandalkan peningkatan kinerja dua anak usahanya, PT Bumi Resources Minerals Tbk (BRMS) dan PT Darma Henwa Tbk (DEWA).
Restrukturisasi utang BRMS akan dilakukan usai BUMI mendapat persetujuan rights issue senilai Rp 35,1 triliun. BRMS akan membayar utang dengan hasil penjualan 24% saham di PT Newmont Nusa Tenggara. (Kontan) BUMI:BUY Under Review
JSMR: Menggandeng UEM Group membangun tol Cigatas
PT Jasa Marga Tbk (JSMR) akan menggandeng UEM Group Berhad asal Malaysia untuk memprakarsai pembangunan jalan Cileunyi – Gatur – Tasikmalaya – Cilacap (Cigatas) sepanjang 235 km. Saat ini ruas tol ini sedang dievaluasi kelengkapan dokumennya, termasuk penghitungan biaya investasi. (Bisnis Indonesia) JSMR: BUY. P/E 17E: 16.0x PBV 17E: 2.2x
Telekomunikasi : Lelang frekuensi diminta dipercepat
Pemerintah diminta segera menyelenggarakan lelang frekuensi 2.100 MHz dan 2.300 MHz untuk mengoptimalkan penerimaan negara bukan pajak (PNBP) selain mempercepat akselerasi broadband di Indonesia. (Bisnis Indonesia) Telekomunikasi: Overweight
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Page 2 of 7
Riset Saham Harian 07 Februari 2017
BRNA: Menambah kapasitas pabrik •
BRNA akan menambah kapasitas pabrik kemas plastik sebesar 28-30% senilai Rp 100-150 miliar. Selain itu, ekspansi tahun ini juga terbantu dari akuisisi PT Abdi Adimulia senilai Rp 96 miliar.
Penjualan di tahun lalu diperkirakan Rp 1,2 triliun, di bawah target Rp 1,4 triliun. Hal ini disebabkan oleh turunnya harga jual karena penurunan harga bahan baku, meski volume penjualan meningkat. Di tahun 2017, ditargetkan penjualan Rp 1,8 triliun.
Pelanggan BRNA antara lain UNVR, Reckitt Beckinser, Aqua, Bayer, KLBF, MRAT, dan Castrol. (Kontan). BRNA: Non-Coverage.
EXCL : Ajak TLKM kerja sama backbone •
•
PT XL Axiata Tbk (EXCL) mengajak PT Telekomunikasi Indonesia Tbk (TLKM) bekerja sama jaringan backbone seiring dengan dorongan agar BUMN dan swasta bekerja sama. Ajakan kerja sama ini merupakan bagian dari pencapaian efisiensi dan optimalisasi sehingga tercapai cost optimum. (Bisnis Indonesia) EXCL: Buy P/E 17E: 50.3x PBV 17E: 1.4x)
Perbankan: NPL masih diwaspadai •
•
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Kalangan bankir masih mewaspadai masalah kualitas aset, meski sejumlah pihak menilai puncak NPL sudah terlewati. Kondisi ekonomi global dan domestik yang melambat menjadi penyebab masalah ini. Kredit macet bank ke pihak terkait meningkat karena sejumlah bank memberikan kredit ke anak usahanya seperti multifinance yang turut mengalami masalah kualitas aset. (Bisnis Indonesia) Banking: Neutral
Page 3 of 7
Riset Saham Harian 07 Februari 2017 Ticker
Rec.
JCI Wgt Last price 1D Chg 5D Chg 1M Chg YTD Chg TP Cons (%)
(Rp)
(%)
(%)
TP SSI
Upside
PE
(%)
(%)
(Rp)
(Rp)
(%)
16E
17E
PBV 16E
17E
ROE 16E
17E
Banks BMRI BBCA BBRI
BUY BUY BUY
4.5 6.5 5.0
11375 15600 12050
2.7 0.8 0.4
3.17 0.97 2.55
0.0 0.0 (0.4)
(1.7) 0.6 3.2
11428 16314 13074
12400 17100 13700
9.0 9.6 13.7
15.2 19.7 11.5
11.8 16.6 9.8
1.7 3.5 2.1
1.6 3.0 1.8
11.3% 17.6% 17.9%
13.1% 17.9% 18.1%
BBNI BBTN
BUY BUY
1.9 0.3
6025 1905
0.8 0.8
5.24 (0.26)
7.6 4.4
9.0 9.5
6512 2104
6600 2300
9.5 20.7
9.9 8.6
7.9 7.3
1.3 1.1
1.1 1.0
13.0% 12.4%
14.5% 13.1%
13.0
10.7
1.9
1.7
14.4%
15.3%
Average Consumer (Staples) ICBP INDF KLBF
BUY BUY BUY
1.7 1.2 1.2
8575 7950 1480
1.5 1.0 0.7
1.18 1.92 1.02
0.6 (0.9) (5.4)
0.0 0.3 (2.3)
10128 9848 1733
10300 9900 1700
20.1 24.5 14.9
26.9 17.7 30.8
24.1 14.9 27.4
5.7 2.3 5.9
5.0 2.1 5.2
21.0% 13.2% 19.1%
20.8% 14.2% 19.0%
ROTI ULTJ
BUY BUY
0.1 0.2
1560 4400
0.0 (1.6)
(1.89) 0.23
(4.3) (2.9)
(2.5) (3.7)
1850 5400
2000 5300
28.2 20.5
32.5 20.2
26.9 16.5
5.7 3.8
4.9 3.1
17.5% 18.7%
18.1% 18.9%
UNVR SIDO
BUY BUY
5.4 0.1
41700 575
(0.7) 0.9
0.91 0.88
2.7 7.5
7.5 10.6
45384 680
45200 700
8.4 21.7
49.8 17.9
44.6 16.0
59.2 3.2
51.9 3.0
118.9% 116.6% 17.7% 18.9%
BUY
0.1
1970
1.8
1.29
(1.0)
1.3
2427
2440
23.9
15.8 28.0
12.1 24.3
1.7 12.2
1.5 10.8
10.7% 32.3%
12.2% 32.4%
BUY BUY
7.9 2.0
3980 61850
1.8 0.1
2.05 (1.51)
(0.5) (4.0)
3.9 (3.2)
4181 78525
4390 77150
10.3 24.7
39.1 18.2
35.0 17.5
13.0 2.8
11.8 2.5
33.3% 15.2%
33.8% 14.1%
28.6
26.3
7.9
7.2
24.2%
24.0%
18.5% 4.1% 11.3%
19.1% 4.7% 11.9%
AISA Average Cigarette HMSP GGRM Average Healthcare MIKA SILO Average
HOLD BUY
0.6 0.3
2420 13950
Retail MAPI
BUY
0.2
RALS ACES
BUY BUY
0.2 0.2
BUY
EXCL ISAT TLKM TOWR
LPPF Average Telco
(1.6) 13.6
(1.22) 17.47
5450
0.9
2.83
1430 785
(2.1) 3.3
8.33 6.08
0.8
15150
0.2
1.17
HOLD BUY
0.5 0.6
2920 6375
0.7 0.0
BUY BUY
6.8 0.6
3960 3440
0.3 0.9
Average Auto and HE ASII BUY
(4.0) 22.4
(5.8) 28.0
2985 12317
2950 12500
21.9 -10.4
52.9 186.0 119.5
46.4 146.6 96.5
9.8 7.6 8.7
8.9 6.8 7.9
0.5
0.9
5918
6700
22.9
48.2
28.4
2.8
2.6
5.8%
9.0%
16.3 (1.3)
19.7 (6.0)
1540 954
1750 1000
22.4 27.4
24.2 21.8
22.0 20.1
2.8 4.6
2.6 4.2
11.7% 21.2%
12.0% 20.7%
(4.1)
0.2
18889
19500
28.7
18.1 28.1
16.0 21.6
20.3 7.6
13.0 5.6
111.9% 37.6%
81.1% 30.7%
1.04 1.19
10.2 5.8
26.4 (1.2)
3219 7877
2200 7200
-24.7 12.9
365.0 42.8
50.3 19.7
1.4 2.6
1.4 2.3
0.4% 6.0%
2.8% 11.7%
2.59 (1.43)
(1.0) (2.3)
(0.5) (3.9)
4626 4617
5000 4500
26.3 30.8
20.2 11.3
16.5 10.0
4.5 3.3
4.0 2.5
22.3% 28.8%
24.0% 24.5%
109.8
24.1
2.9
2.5
0.1
0.2
5.6
8125
0.3
2.85
(0.6)
(1.8)
8800
9000
10.8
17.8
14.7
3.0
2.5
16.7%
17.2%
BUY
1.5
23075
0.3
3.13
6.3
8.6
24419
25050
8.6
19.9 18.9
16.7 15.7
2.1 2.6
2.0 2.3
10.7% 13.7%
11.9% 14.6%
Aviation GIAA
BUY
0.2
346
1.8
2.37
1.2
2.4
364
445
28.6
18.2
13.3
0.7
0.9
3.8%
7.1%
Property BSDE PWON
BUY BUY
0.6 0.5
1890 565
(0.3) (1.7)
2.72 (1.74)
2.4 (6.6)
7.7 0.0
2294 714
2350 710
24.3 25.7
14.8 20.3
12.0 18.8
1.6 3.4
1.4 3.0
11.1% 16.8%
11.8% 15.8%
ASRI SMRA
HOLD BUY
0.1 0.3
394 1320
(1.0) 0.0
2.07 (1.49)
3.7 (2.6)
11.9 (0.4)
426 1564
390 1550
-1.0 17.4
12.3 29.0
11.6 27.2
1.1 2.5
1.0 2.3
9.0% 8.5%
8.8% 8.4%
SSIA CTRA
BUY BUY
0.0 0.4
610 1380
(3.2) 0.0
(3.94) 4.15
37.4 5.7
40.6 3.4
854 1703
750 1580
23.0 14.5
14.5 15.9
13.6 13.5
0.9 1.6
0.9 1.5
6.5% 9.9%
6.6% 11.0%
DMAS
BUY
0.2
228
0.9
0.88
6.5
(0.9)
309
300
31.6
17.5
15.2
1.4
1.3
8.1%
8.5%
KIJA Average
BUY
0.1
292
0.7
0.69
0.7
0.0
413
450
54.1
11.2 16.9
9.7 15.2
1.1 1.7
1.0 1.5
9.8% 0.1
10.1% 0.1
Construction PTPP BUY
UNTR Average
0.4
3770
1.6
7.10
0.0
(1.0)
4949
5100
35.3
23.1
19.9
3.2
2.9
13.9%
14.4%
BUY BUY
0.1 0.6
2110 2570
0.5 (0.4)
0.39
(0.9) (0.4)
1.4 0.8
2495 3256
2750 3250
30.3 26.5
15.9 20.1
13.1 16.3
1.4 1.8
1.2 1.6
8.9% 9.2%
9.5% 9.9%
BUY
0.4
2510
0.8
2.03
4.6
6.4
3089
3000
19.5
21.8 20.2
18.5 16.9
2.5 2.2
2.1 2.0
11.2% 10.8%
11.4% 11.3%
INTP SMGR
SELL HOLD
1.0 0.9
15425 9275
0.3 0.8
(2.83) 1.92
(3.0) (1.3)
0.2 1.1
15916 9891
13500 9000
-12.5 -3.0
13.8 14.1
13.5 13.6
2.1 1.9
1.9 1.8
15.6% 13.7%
14.4% 12.9%
SMCB SMBR
SELL HOLD
0.1 0.4
905 2230
0.0 2.8
0.56 (3.04)
0.6 (7.5)
0.6 (20.1)
861 859
700 2300
-22.7 3.1
-90.5 67.6
-37.7 58.7
0.8 6.7
0.9 5.9
-0.9% 9.9%
-2.3% 10.0%
1.2
12.0
2.9
2.6
0.1
0.1
ADHI WSKT WIKA Average Cement
Average Precast WSBP WTON Average
BUY
0.3
580
0.0
-
0.9
4.5
693
690
19.0
28.6
22.8
2.4
2.2
8.4%
9.6%
BUY
0.1
825
0.0
-
(1.8)
0.0
1131
1150
39.4
25.6 27.1
19.5 21.1
2.6 2.5
2.1 2.1
10.2% 9.3%
10.9% 10.2%
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Page 4 of 7
Riset Saham Harian 07 Februari 2017 Utility PGAS BUY JSMR BUY Average Coal and Metal ANTM BUY INCO BUY
1.2 0.5
3010 4250
4.9 (0.2)
4.51 0.47
6.0 (2.3)
11.5 (1.6)
3155 5680
3375 5000
12.1 17.6
12.9 16.2 14.6
10.7 16.0 13.4
1.6 2.5 2.0
1.4 2.2 1.8
12.3% 15.3% 13.8%
13.5% 13.9% 13.7%
0.3 0.5
815 2720
(1.8) (1.8)
1.88 16.74
(5.8) (7.2)
(8.9) (3.5)
951 2869
1250 3500
53.4 28.7
407.5 209.2
9.5 29.6
1.0 1.1
0.9 1.1
0.3% 0.5%
10.0% 3.7%
BUY BUY BUY BUY
0.1 0.3 1.0 0.4
1090 15800 1740 11200
(0.9) 0.0 1.2 (4.7)
11.22 5.33 1.46 (1.10)
(1.4) (4.8) 2.7 (8.8)
1.4 (6.4) 2.7 (10.4)
1186 18874 1859 14389
1200 19000 2100 15000
10.1 20.3 20.7 33.9
109.0 13.3 15.5 18.8 128.9
51.9 6.8 13.2 11.5 20.4
1.5 1.5 1.2 2.6 1.5
1.5 1.3 1.1 2.3 1.4
1.4% 11.3% 7.6% 14.1% 5.9%
2.9% 19.6% 8.5% 19.9% 10.7%
BUY BUY BUY
0.5 0.2 0.1
16000 1580 515
0.0 0.3 (1.0)
1.43 (0.32) -
(2.3) (5.1) 3.4
(4.6) (9.2) 4.3
18781 1899 565
19800 2050 600
23.8 29.7 16.5
18.5 22.3 18.4 19.7
17.5 14.2 11.7 14.5
2.0 1.4 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%
BUY CPIN BUY JPFA BUY MAIN Average Other Sectors BUY AKRA BUY DOID
0.9 0.3 0.0
3240 1780 1190
0.3 4.1 0.4
0.93 4.09 (0.42)
0.6 21.5 (4.8)
4.9 22.3 (8.5)
3610 2353 1769
4500 2200 1730
38.9 23.6 45.4
15.3 10.7 7.0 11.0
13.7 9.8 6.4 10.0
2.0 2.2 1.1 1.8
1.8 1.8 1.0 1.5
13.0% 20.7% 16.3% 16.7%
12.8% 18.7% 15.6% 15.7%
0.5 0.1
6900.0 600.0
-0.4 -3.2
3.8 17.6
16.9 10.1
15.0 17.6
7591.7 850.0
7600 850
10.1 41.7
24.7 10.7 17.7
22.0 5.7 13.9
4.0 3.1 3.5
3.6 2.0 2.8
16.2% 28.7% 22.5%
16.3% 35.9% 26.1%
TINS ITMG ADRO PTBA Average Plantation AALI LSIP SIMP Average Poultry
Average Source: SSI Research, Bloomberg Note: GIAA, PGAS, ITMG, ADRO, INCO, DOID report in USD.
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Page 5 of 7
Riset Saham Harian 07 Februari 2017
Regional Indices
1D Change Points
World
(7.30)
Last Price
Change (%)
1 Year
1D
3D
1W
1M
3M
YTD
1YR
High
Low
1,798
(0.40)
0.17
0.32
0.85
8.32
2.68
18.00
1,811
1,460
U.S. (S&P)
(4.86)
2,293
(0.21)
0.57
0.51
0.68
7.56
2.40
21.94
2,301
1,810
U.S. (DOW)
(19.04)
20,052
(0.09)
0.81
0.41
0.44
9.82
1.47
23.74
20,126
15,503
Europe
(34.80)
3,238
(1.06)
(0.63)
(0.75)
(2.49)
7.61
(1.59)
12.47
3,342
2,673
4.12
923
0.45
1.09
1.08
4.75
4.87
7.04
24.79
930
708
(16.15)
7,172
(0.22)
0.91
0.75
(0.53)
5.37
0.41
n/a
7,354
5,500
Emerging Market FTSE 100 CAC 40
(47.34)
4,778
(0.98)
(0.34)
(0.14)
(2.68)
7.10
(1.73)
13.75
4,930
3,892
Dax
(141.65)
11,510
(1.22)
(1.28)
(1.47)
(0.77)
10.07
0.25
23.95
11,893
8,699
35.23
5,396
0.66
1.29
1.76
0.92
0.18
1.87
12.44
5,492
4,628
Japan
(143.56)
18,833
(0.76)
(0.43)
(1.09)
(3.19)
9.64
(1.47)
11.97
19,615
14,864
Australia Korea
(11.38) (2.84)
5,604 2,075
(0.20) (0.14)
(0.73) 0.18
(0.30) 0.35
(2.63) 1.25
6.73 3.87
(1.09) 2.39
12.62 8.19
5,828 2,092
4,707 1,818
Singapore
14.97
3,057
0.49
(0.34)
(0.26)
3.18
9.14
6.11
16.53
3,073
2,532
Malaysia
6.23
1,691
0.37
1.18
(0.06)
0.94
2.46
3.02
1.73
1,729
1,612
Hong Kong
219.03
23,348
0.95
0.13
(0.11)
3.76
2.40
6.13
21.05
24,364
18,279
China Taiwan
16.81 82.45
3,157 9,538
0.54 0.87
0.24 0.95
0.64 2.21
0.08 1.77
0.75 3.79
1.72 3.07
14.24 18.29
3,301 9,549
2,639 7,954
Thailand
6.18
1,589
0.39
0.81
(0.09)
1.12
5.78
2.99
21.65
1,601
1,271
Philipines
67.70
7,294
0.94
0.93
(0.58)
0.64
1.35
6.63
7.82
8,118
6,499
1D Change Points
Last Price
0.01
Foreign Reserve (US$bn) Inflation Rate (%)
Indonesia
Monetary Indicators
Change (%)
1 Year
1W
1M
3M
YTD
1YR
High
Low
4.18
0.12
(4.60)
(1.77)
(1.28)
(22.61)
5.58
4.16
n/a
116.36
n/a
4.39
0.60
9.85
9.85
116.36
103.59
n/a
0.97
n/a
130.95
592.86
130.95
90.20
0.97
(0.45)
US Fed Rate (%) 0.00 Indo Govt Bond Yld (10yr) - % 0.00
0.75 7.57
0.00 (1.09)
0.00 (2.34)
50.00 3.19
0.00 (5.09)
50.00 (5.70)
0.75 8.36
0.50 6.77
JIBOR Overnight (%)
Exchange Rate (per US$)
1D Change
Currency
Points
Indonesia Japan
(25.00) 0.05
UK Euro China Commodities Indicators Spot Oil
Last Price
Change (%)
1 Year
1D
3D
1W
1M
3M
YTD
1YR
High
Low
13320 111.79
0.19 (0.04)
0.39 0.90
0.23 0.90
0.34 3.79
1.15 4.62
1.15 4.62
2.29 3.63
13,710 118.66
12,920 99.02
(0.00)
1.25
(0.05)
(0.51)
(0.92)
2.47
1.00
1.00
(13.65)
1.50
1.18
(0.00)
1.07
(0.11)
(0.20)
(0.56)
1.55
2.10
2.10
(4.07)
1.16
1.03
(0.00)
6.86
0.06
0.31
0.31
0.92
1.19
1.19
(4.21)
6.96
6.45
1D 0.34
3D (0.65)
1W 0.72
3M 18.49
YTD (0.99)
1YR 72.19
High 55.24
i 26.05
1D Change Points 0.18
Last Price 53.19
Change (%) 1M (1.48)
1 Year
CPO
9.00
2,991.00
0.30
(1.25)
(3.11)
(1.19)
9.52
(3.80)
16.34
3,202.00
2,172.00
Rubber Coal
(7.00) (1.65)
1,153.00 81.00
(0.60) (2.00)
(1.50) (0.98)
(1.50) (3.05)
17.17 (1.52)
58.49 (24.12)
17.95 (14.47)
113.72 56.37
1,174.00 112.25
526.00 51.75
Iron Ore
0.00
83.44
0.00
1.86
1.02
7.80
35.50
6.89
103.51
84.07
42.20
Tin
(544.00)
19,173.00
(2.76)
(3.24)
(2.21)
(9.01)
(10.59)
(9.58)
26.12
21,945.00
15,285.00
Nickel
225.00
10,450.00
2.20
1.95
7.95
2.00
(0.10)
4.29
28.06
12,145.00
7,550.00
Copper Gold
74.00 2.60
5,846.00 1,233.50
1.28 0.21
(1.67) 1.27
0.45 2.06
4.58 5.12
17.13 (3.59)
5.61 7.26
26.26 6.58
6,045.50 1,377.50
4,430.00 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, 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 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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