Friday, September 22, 2017 JCI Index
40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0
5,500 5,000 4,500 4,000 3,500 3,000
ID X Statistics
C lo sing
JCI
5,906.57
Millions
Volume
6,000
Transaction Value Regular M arket (IDR tn) Transaction Volume Regular M arket (mn shares)
Today’s Market:
IHSG diperkirakan bergerak mixed dengan kecenderungan menguat. The Fed menetapkan tidak ada perubahan atas suku bunga acuannya. Namun, lembaga ini masih mensinyalkan akan adanya kenaikan sekali lagi dalam tahun ini dan kenaikan sebanyak 3 kali untuk tahun 2018. The Fed juga akan mengurangi sekitar US$ 4,2 triliun kepemilikan obligasi treasury AS dan sekuritas berbentuk mortgage yang diperoleh setelah krisis keuangan 2008 mulai Oktober tahun ini. Selain itu, S&P menurunkan rating China dari AA– ke A+ dengan outlook stabil. Kami melihat penurunan rating oleh S&P bukan merupakan berita mengejutkan karena pasar kemungkinan sudah priced in ketika Moody’s menurunkan rating negara tersebut pada May 2017. Dari dalam negeri, pasar masih menunggu hasil keputusan Bank Indonesia mengenai kebijakan suku bunga Bank Indonesia 7day (Reverse) Repo Rate yang saat ini berada di level 4.5% yang akan dirilis pada Jumat (22/09) ini dimana terdapat potensi bahwa BI akan kembali melakukan pemotongan sebanyak 25 basis poin menjadi 4,25%. Selain itu, OJK berencana mencabut batas atas suku bunga deposito untuk kelompok Bank BUKU III dan IV, seiring dengan tren suku bunga deposito yang menurun dimana hal ini akan memberikan dampak positif bagi kelomopok tersebut. Secara teknikal indeks hari Jumat (22/9), IHSG diprediksi bergerak di kisaran 5891-5923.
Top Buy: UNTR, BBNI, ICBP www.sinarmassekuritas.co.id
BoW: MAPI
6,191
Foreign Net Buy (Sell) (IDR bn)
(45.83)
Foreign Net Buy (Sell)
(0.62)
Total M arket Capitalization (IDR tn)
Other Indices
IHSG naik sebanyak 5.3 poin (0.09%) ke level 5906.57. Sementara LQ45 naik sebanyak 0.6 poin (0.06%) ke level 983.41. Foreign net sell sebesar Rp 45.83 miliar.
4.831
6,501.29
C lo sing
1-D ay C hg (%)
YT D C hg (%)
LQ45
983.41
0.06
EIDO
26.83
0.15
11.19
IDX
23.88
0.17
12.48
22,359.23
(0.24)
13.14
S&P 500
2,500.60
(0.30)
11.69
NASDAQ
6,422.69
(0.52)
19.31
FTSE
7,263.90
(0.11)
1.69
NIKKEI
20,347.48
0.18
6.45
28,110.33
(0.06)
27.77
STRAITS TIM ES
3,213.82
(0.13)
11.56
KLSE
1,771.04
(0.14)
7.88
DOW JONES
HANG SENG
C urrency Spo t R ate
R ate (ID R )
1-D ay C hg (%)
11.17
YT D C hg (%)
USD/IDR
13,328.00
0.08
1.13
EUR/IDR
15,859.64
0.54
(11.00)
JPY/IDR
118.56
0.42
(3.12)
SGD/IDR
9,837.77
0.05
(5.64)
AUD/IDR
10,512.45
(1.25)
(7.73)
GBP/IDR
18,073.52
0.79
(8.57)
C o mmo dities
Last T ransactio n
P rice
YT D C hg (%)
Crude Oil (USD/barrel)
50.62
8:06:52 AM
(5.77)
Coal (USD/mn tons)
86.85
9/21/2017
4.64
Natural Gas (USD/mmBtu)
2.96
8:05:56 AM
(20.52)
1,294.25
8:16:56 AM
12.79
Nickel (USD/mn tons)
10,775.00
8:16:56 AM
7.39
Tins (USD/mn tons)
20,435.00
8:16:12 AM
(3.27)
2,748.00
9/21/2017
(14.61)
Gold (USD/ounce)
CPO (M YR/mn tons) Rubber (JPY/kg)
207.80
9/21/2017
(20.69)
Wheat (USD/bushel)
452.50
8:04:29 AM
10.97
Corn (USD/bushel)
350.00
8:05:30 AM
(0.50)
Source: Bloomberg, Sinarmas Investment Research
See important disclaimer at the end of this report
1
Daily Corporate and Industry News
Kebijakan Bank Sentral AS (The Federal Reserve) untuk menahan kembali suku bunganya dan memutuskan memulai pemangkasan neraca keuangannya pada Oktober, berpeluang menciptakan arus modal keluar di negara berkembang, termasuk Indonesia. Source: Bisnis Indonesia
Bank Indonesia (BI) akhirnya menetapkan biaya isi ulang (top up) uang elektronik (e-money), melalui Peraturan Anggota Dewan Gubernur (PADG) tentang National Payment Gateway (NPG) atau Gerbang Pembayaran Nasional. Biaya top up untuk e-money maksimal Rp 1.500. Selain itu, BI juga resmi mengeluarkan aturan skema tarif kartu debit yang menggunakan metode merchant discount rate (MDR). Tarif yang akan dikenakan oleh bank kepada pedagang maksimal dipatok 1% dari nominal transaksi. Source: Investor Daily, Kontan Kendati berkeras mengenakan biaya top up, Bank Indonesia tampaknya memberikan ruang kompromi dengan menggratiskan biaya untuk transaksi sampai dengan Rp 200.000. Source: Bisnis Indonesia
Setelah ada kepastian strategi normalisasi neraca keuangan Federal Reserve, Bank Indonesia berpotensi untuk kembali melakukan pemotongan untuk kembali melakukan pemotongan BI 7 Day Repo Rate (7DRR) sebanyak 25 basis poin menjadi 4,25%. Source: Bisnis Indonesia Otoritas Jasa Keuangan(OJK) berencana mencabut batas atas (capping) suku bunga deposito, seiring dengan tren suku bunga deposito yang menurun. Source: Investor Daily
Persatuan Perusahaan Realestat Indonesia (REI) terus meminta pemerintah untuk mengkaji peraturan perpajakan yang dibebankan kepada pengembang, karena dirasa sangat memberatkan. Apabila harga jual rumah murah Rp 375 juta, total pajaknya mencapai hampir Rp 63 juta. Source: Bisnis Indonesia Penyaluran pembiayaan investasi oleh multifinance pada tahun ini diprediksi tumbuh lebih kencang, karena didorong oleh perbaikan kinerja sektor komoditas. Pembiayaan tumbuh signifikan karena didorong oleh peningkatan permintaan pasar terhadap pembiyaan investasi dan modal kerja. Source: Bisnis Indonesia
Menteri Badan Usaha Milik Negara (BUMN) mendorong perusahaan pelat merah menerbitkan produk investasi dana real estat (DIRE). Adapun, salah satu perusahaan yang didorong adalah Bank Mandiri (BMRI). OJK sebagai regulator akan mendorong optimalisasi pendanaan infrastruktur melalui pasar modal dengan menyempurnakan regulasi, termasuk penyempurnaan regulasi KIK-EBA dan DIRE. Source: Bisnis Indonesia PT Garuda Maintenance Facility (GMF) AeroAsia membidik lima investor strategis untuk pelepasan 10% sahamnya. Perseroan tengah melakukan penjajakan terhadap lima investor strategis tersebut. Source: Bisnis Indonesia
Adhi Karya (ADHI) mendapatkan kontrak baru senilai Rp 537,28 miliar. Kontrak baru tersebut berasal dari kontrak dengan Bukit Asam (PTBA). Hingga September 2017, ADHI mencatatkan kontrak baru sebesar Rp 9,44 triliun. Source: Kontan Wijaya Karya (WIKA) dan Jasa Marga (JSMR) akan menerbitkan obligasi berdenominasi rupiah di pasar global. WIKA bakal menerbitkan obligasi senilai US$250 juta hingga US$ 500 juta sedangkan JSMR sedang mengkaji penerbitan obligasi tersebut. Source: Bisnis Indonesia
www.sinarmassekuritas.co.id
See important disclaimer at the end of this report
2
Daily Corporate and Industry News
Semen Gresik (SMGR) mencatat pertumbuhan penjualan sebesar 9,5% menjadi 9,6 juta ton hingga Agustus 2017, dibandingkan periode sama tahun lalu 8,7 juta ton. Pertumbuhan itu melampaui pasar yang hanya 5,7% menjadi 41 juta ton. Source: Investor Daily
Aneka Tambang (ANTM) mengkaji opsi pengembangan pabrik PT Indonesia Chemical Alumina (ICA) dari pabrik pengolahan bijih bauksit menjadi chemical grade alumina (CGA). Pengembangan dilaksanakan dengan menjajaki kerjasama beberapa calon investor strategis dari Tiongkok, Jepang, maupun Korea. Source: Investor Daily
Acset Indonusa (ACST) optimis dapat mencapai target kontrak baru yang telah direvisi menjadi Rp 7,5 triliun sepanjang tahun ini. Kontrak baru yang telah diperoleh perusahaan hingga saat ini mencapai sekitar Rp 7,1 triliun atau 95% dari target yang ditetapkan perseroan. Source: Bisnis Indonesia Energi Mega Persada (ENRG) berencana merestrukturisasi sebagian utang melalui penerbitan saham biasa seri B atas nama tanpa hak memesan efek terlebih dahulu. Rencananya, ENRG akan menerbitkan 3,94 miliar saham, setara 39,11% dari modal ditempatkan dan disetor penuh. Dalam prospektus, nilai nominal transaksi itu mencapai Rp 410,12 miliar. Source: Investor Daily
Tower Bersama Infrastructure (TBIG) mengucurkan pinjaman antarperusahaan sebesar Rp 700 miliar kepada PT Solu Sindo Kreasi Pratama. Pencairan pinjaman dilakukan menyusul tuntasnya penerbitan obligasi berkelanjutan II TBIG tahap III tahun 2017 dengan nilai pokok Rp 700 miliar. Source: Kontan AKR Corporindo (AKRA) memproyeksikan dapat menjual 40 hektare lahan di Java Integrated Industrial & Port Estate (JIIPE) pada tahun ini. Nilai investasi oleh perusahaan di JIIPE sudah mencapai Rp 4,5 triliun. Source: Bisnis Indonesia
www.sinarmassekuritas.co.id
See important disclaimer at the end of this report
3
World Equity Indices NO
T IC K E R
A m e r ic a
52-WEEK H IG H
C H A N GE YTD
LO W
P O IN T
%
P E R ( x) 2 0 16
P B V ( x)
2 0 17 E
2 0 16
M A R KE T C A P (B n)
2 0 17 E
D o m a in C urre nc y
US D
1
IN D U Index
22,419.51
17,883.56
2,596.63
13.14
18.78
18.38
3.34
3.34
6,286.73
6,286.73
2
SP X Index
2,508.85
2,083.79
261.77
11.69
21.09
19.15
2.89
2.95
22,219.06
22,219.06
3
C C M P Index
6,477.77
5,034.41
1,039.58
19.31
31.77
24.05
3.59
3.66
9,958.88
9,958.88
4
SP T SX Index
15,943.09
14,468.03
167.33
1.09
22.97
17.42
1.93
1.98
2,351.62
1,907.39
5
M EXB O L Index
51,772.37
43,998.98
4,902.85
10.74
22.54
18.96
2.53
2.50
5,880.50
329.58
E uro pe 6
SX5E Index
3,666.80
2,922.82
249.07
7.57
20.91
15.13
1.59
1.65
2,942.89
3,511.75
7
UKX Index
7,598.99
6,676.56
121.07
1.69
63.33
15.14
1.89
1.91
2,005.99
2,722.93
8
C A C Index
5,442.10
4,342.64
404.98
8.33
23.98
15.57
1.49
1.55
1,473.42
1,758.23
9
D A X Index
12,951.54
10,174.92
1,118.97
9.75
18.34
13.88
1.83
1.89
1,178.75
1,406.61
10
IB EX Index
11,184.40
8,512.40
944.90
10.10
18.45
14.47
1.33
1.34
647.38
772.52
11
F T SEM IB Index
22,529.86
15,922.35
3,257.15
16.93
57.73
15.52
1.02
1.05
509.88
608.44
12
A EX Index
537.84
436.28
45.30
9.38
30.20
16.89
1.66
1.71
636.17
759.15
13
SM I Index
9,198.45
7,585.56
914.26
11.12
29.70
18.09
2.46
2.45
1,114.44
1,147.61
A s ia / P a c if ic 14
A S51 Index
5,956.52
5,052.10
(10.38)
(0.18)
25.04
15.77
2.00
1.98
1,637.12
1,298.89
15
A S30 Index
5,983.20
5,138.90
(2.37)
(0.04)
28.69
15.85
1.98
1.95
1,777.21
1,410.04
16
SH SZ 300 Index
3,866.94
3,214.44
527.74
15.94
14.95
14.75
1.80
1.82
28,040.86
4,270.74
17
SH A SH R Index
3,551.60
3,108.02
266.55
8.20
17.43
14.76
1.72
1.73
32,675.22
4,976.58
18
SZ A SH R Index
2,243.11
1,833.92
27.21
1.32
40.79
25.79
3.57
3.65
24,055.64
3,663.78
28,248.12
21,488.82
6,109.77
27.77
11.96
12.76
1.13
1.13
18,012.27
2,307.85
11,461.57
9,117.27
1,803.45
19.20
7.74
8.55
0.93
0.91
5,073.40
650.04
32,686.48
25,717.93
5,743.58
21.57
20.07
20.84
2.64
2.73
55,936.69
861.64
10,178.95
7,893.80
1,936.10
23.65
20.88
20.46
2.63
2.76
71,385.38
1,099.61
5,916.82
5,022.85
609.86
11.51
24.62
16.95
2.40
2.37
6,501,287.42
487.86
997.51
828.50
98.80
11.17
19.87
18.83
2.78
2.75
4,284,603.90
321.52
(10.53)
12.57
9.54
2.05
2.05
7,472.34
70.91
19
H SI Index
20
H SC EI Index
21
SEN SEX Index
22
N IF T Y Index
23
J C I Index
24
LQ 45 Index
25
KSE100 Index
53,127.24
39,538.04
(5,031.93)
26
N KY Index
20,481.27
16,111.81
1,233.11
6.45
24.52
17.48
1.82
1.89
363,094.05
3,229.51
27
N EY Index
330.76
257.27
24.39
8.02
19.41
16.12
1.36
1.61
419,865.06
3,734.46
28
T P X Index
1,679.83
1,287.39
150.13
9.89
19.56
14.55
1.33
1.38
624,294.78
5,552.74
29
F B M KLC I Index
1,796.75
1,614.11
129.31
7.88
16.53
16.53
1.67
1.66
1,070.19
254.93
30
N Z SE Index
1,440.21
1,243.04
127.79
9.97
18.27
20.14
1.86
1.83
119.77
87.54
31
P C O M P Index
8,321.81
6,499.00
1,446.22
21.14
19.60
19.87
2.19
2.28
9,974.29
195.65
32
F SST I Index
3,354.71
2,760.97
333.06
11.56
12.18
14.73
1.13
1.09
572.22
423.81
33
KO SP I Index
2,453.17
1,931.07
380.04
18.75
23.69
10.36
0.91
0.92
1,504,422.02
1,328.37
34
T WSE Index
10,664.18
8,879.69
1,324.94
14.32
16.49
14.96
1.61
1.61
31,139.70
1,031.18
35
SET Index
1,678.23
1,343.13
127.55
8.27
16.65
16.60
1.86
1.98
16,548.92
499.89
36
SET 50 Index
1,079.83
850.23
105.55
10.94
15.80
16.18
2.02
2.15
11,032.00
333.24
37
VN IN D EX Index
810.13
647.33
139.06
20.92
16.43
16.43
2.00
2.08
2,047,364.74
90.09
Source: Bloomberg, Sinarmas Investment Research
www.sinarmassekuritas.co.id
See important disclaimer at the end of this report
4
LQ45 L Q 4 5 In d e x
2 1 -S e p -1 7
5 2 -W E E K
C H A N G E Y TD
H IG H
LOW
P O IN T
%
P E R (x ) 2016
P B V (x )
2017E
2016
2017E
M A R K ET C A P (B n )
1
A A L I IJ
1 4 ,8 7 5
1 7 ,9 5 0
1 4 ,1 0 0
(1 , 9 0 0 )
(1 1 . 3 3 )
1 5 .0 9
1 3 .4 2
1 .8 8
1 .6 0
2 8 ,6 2 9 .7 4
2
A D H I IJ
2 ,0 4 0
2 ,5 2 0
1 ,8 3 0
(4 0 )
(1 . 9 2 )
2 3 .6 3
1 2 .5 5
1 .3 6
1 .2 1
7 ,2 6 4 .1 3
3
A D R O IJ
1 ,8 6 0
1 ,9 9 5
1 ,1 7 5
165
9 .7 3
1 1 .9 6
1 0 .7 8
1 .2 7
1 .2 8
5 9 ,4 9 3 .8 9
4
A K R A IJ
7 ,0 0 0
7 ,2 7 5
5 ,4 0 0
1 ,0 0 0
1 6 .6 7
2 3 .5 6
2 4 .0 8
3 .5 1
3 .6 6
2 8 ,0 0 1 .0 0
5
A N TM IJ
680
1 ,0 0 5
595
(2 1 5 )
(2 4 . 0 2 )
3 3 1 .8 8
6 8 .2 3
1 .1 7
0 .9 9
1 6 ,3 4 0 .9 2
6
A S II IJ
7 ,8 2 5
9 ,3 5 0
7 ,3 0 0
(4 5 0 )
(5 . 4 4 )
2 2 .1 0
1 6 .0 8
2 .9 9
2 .5 7
3 1 6 ,7 8 3 .8 0
7
A S R I IJ
396
496
302
44
1 2 .5 0
1 4 .0 2
9 .0 9
0 .9 8
0 .9 9
7 ,7 8 1 .1 7
8
B B C A IJ
1 9 ,0 5 0
1 9 ,2 0 0
1 3 ,9 5 0
3 ,5 5 0
2 2 .9 0
1 8 .5 4
2 0 .5 1
3 .4 0
3 .6 0
4 6 9 ,6 7 7 .9 3
9
B B N I IJ
7 ,3 7 5
7 ,4 5 0
4 ,8 1 0
1 ,8 5 0
3 3 .4 8
9 .0 3
1 0 .4 3
1 .1 8
1 .4 3
1 3 7 ,5 3 3 .8 4
10
B B R I IJ
1 5 ,0 2 5
1 5 ,5 0 0
1 0 ,4 2 5
3 ,3 5 0
2 8 .6 9
1 0 .8 8
1 3 .1 3
1 .9 5
2 .2 6
3 7 0 ,6 5 4 .1 6
11
B B TN IJ
3 ,2 1 0
3 ,3 4 0
1 ,5 9 0
1 ,4 7 0
8 4 .4 8
7 .0 5
1 1 .0 7
0 .9 6
1 .5 7
3 3 ,9 9 3 .9 0
12
B M R I IJ
6 ,6 0 0
6 ,8 3 8
5 ,0 1 3
812
1 4 .0 3
1 9 .5 6
1 6 .3 7
1 .8 0
1 .9 2
3 0 8 ,0 0 0 .0 0
13
B U M I IJ
212
520
63
(2 3 . 7 4 )
1 0 .9 7
-
-
1 3 ,8 5 9 .8 3
14
B S D E IJ
1 ,8 0 0
2 ,2 6 0
1 ,5 5 0
45
2 .5 6
1 8 .8 7
1 2 .9 6
1 .6 4
1 .4 3
3 4 ,6 4 4 .0 5
15
C P IN IJ
2 ,7 1 0
3 ,8 3 0
2 ,5 9 0
(3 8 0 )
(1 2 . 3 0 )
2 2 .4 2
1 6 .0 0
3 .5 8
2 .7 6
4 4 ,4 3 8 .5 8
16
EL S A IJ
314
520
226
(1 0 6 )
(2 5 . 2 4 )
9 .8 6
1 1 .6 3
1 .0 8
-
17
G G R M IJ
6 8 ,9 5 0
8 1 ,3 0 0
6 0 ,0 2 5
5 ,0 5 0
7 .9 0
1 8 .4 1
1 8 .1 9
3 .1 1
3 .0 9
1 3 2 ,6 6 5 .8 7
18
H M S P IJ
3 ,9 3 0
4 ,2 5 0
3 ,3 5 0
100
2 .6 1
3 4 .9 1
3 4 .9 2
1 3 .0 4
1 2 .6 5
4 5 7 ,1 3 0 .0 4
19
IC B P IJ
8 ,8 5 0
1 0 ,0 0 0
7 ,5 5 0
275
3 .2 1
2 7 .7 8
2 6 .4 9
5 .6 9
5 .2 4
1 0 3 ,2 0 7 .8 9
20
IN C O IJ
2 ,7 9 0
3 ,6 3 0
1 ,8 3 5
2 1 0 .2 0
1 .1 3
1 .0 8
2 7 ,7 2 2 .3 9
21
IN D F IJ
8 ,7 2 5
9 ,2 0 0
7 ,2 0 0
800
1 0 .0 9
1 8 .5 7
1 7 .2 7
2 .4 0
2 .4 0
7 6 ,6 0 9 .2 2
22
IN TP IJ
1 9 ,2 5 0
2 0 ,0 0 0
1 4 ,2 7 5
3 ,8 5 0
2 5 .0 0
1 4 .6 5
2 7 .1 5
2 .1 7
2 .7 1
7 0 ,8 6 3 .7 1
23
J S M R IJ
5 ,8 5 0
6 ,0 5 0
3 ,9 0 0
1 ,5 3 0
3 5 .4 2
1 5 .6 3
2 0 .0 9
2 .2 9
2 .7 0
4 2 ,4 5 8 .5 5
24
K L B F IJ
1 ,7 3 5
1 ,8 0 5
1 ,3 8 5
220
1 4 .5 2
3 0 .8 8
3 2 .4 2
5 .9 6
6 .1 0
8 1 ,3 2 8 .3 4
25
L P K R IJ
745
1 ,1 4 0
610
3 .4 7
1 8 .5 3
1 6 .3 6
0 .8 8
0 .8 5
1 7 ,1 9 2 .8 8
26
L P P F IJ
9 ,9 0 0
1 9 ,3 5 0
9 ,1 7 5
(5 , 2 2 5 )
(3 4 . 5 5 )
2 1 .8 3
1 3 .9 3
2 3 .7 9
1 1 .5 3
2 8 ,8 8 7 .3 9
27
L S IP IJ
1 ,4 2 0
1 ,9 0 5
1 ,3 3 0
(3 2 0 )
(1 8 . 3 9 )
2 0 .0 8
1 2 .2 9
1 .5 5
1 .1 9
9 ,6 8 8 .4 7
28
M N C N IJ
1 ,3 3 0
2 ,2 0 0
1 ,2 8 5
(4 2 5 )
(2 4 . 2 2 )
1 8 .2 0
1 1 .8 8
2 .6 8
1 .8 4
1 8 ,9 8 7 .2 2
29
EX C L IJ
3 ,8 0 0
4 ,0 6 0
2 ,0 3 0
6 4 .5 0
5 8 .6 5
1 3 1 .8 9
1 .1 6
1 .8 6
4 0 ,6 1 4 .2 5
30
M YR X IJ
127
192
108
(4 2 )
(2 4 . 8 5 )
1 5 8 .0 2
1 0 3 .2 5
2 .3 4
1 7 3 .9 7
9 ,9 9 7 .3 4
31
P G A S IJ
1 ,6 2 5
3 ,0 5 0
1 ,5 9 0
(1 , 0 7 5 )
(3 9 . 8 1 )
1 5 .8 8
1 1 .1 3
1 .5 3
0 .9 7
3 9 ,3 9 2 .4 5
32
P TB A IJ
1 0 ,4 2 5
1 4 ,2 0 0
9 ,3 0 0
(2 , 0 7 5 )
(1 6 . 6 0 )
1 2 .7 8
7 .2 0
2 .5 3
1 .9 3
2 4 ,0 2 0 .5 7
33
P TP P IJ
2 ,6 2 0
4 ,3 8 2
2 ,3 0 0
(1 , 1 9 0 )
34
P W O N IJ
650
765
535
35
S C M A IJ
2 ,3 4 0
3 ,1 8 0
36
P P R O IJ
208
37
S M G R IJ
1 0 ,1 0 0
38
S M R A IJ
1 ,0 8 5
1 ,7 9 5
39
S R IL IJ
40
S S M S IJ
41
TL K M IJ
4 ,6 9 0
4 ,8 4 0
42
U N TR IJ
3 1 ,9 7 5
3 2 ,2 0 0
43
U N V R IJ
5 1 ,0 0 0
5 1 ,7 5 0
3 7 ,8 2 5
44
W IK A IJ
1 ,9 0 5
2 ,7 6 0
1 ,7 8 5
W S K T IJ
1 ,9 0 5
2 ,7 4 0
1 ,7 8 5
45
(6 6 )
(3 0 )
25
1 ,4 9 0
(1 . 0 6 )
-
-
2 ,2 9 1 .7 3
(3 1 . 2 3 )
2 4 .5 1
1 1 .8 9
2 .4 1
1 .4 7
1 6 ,2 4 3 .7 3
85
1 5 .0 4
1 6 .2 9
1 6 .1 2
3 .1 3
2 .9 3
3 1 ,3 0 3 .7 4
1 ,9 6 0
(4 6 0 )
(1 6 . 4 3 )
2 7 .2 3
2 0 .1 5
1 1 .9 5
8 .6 0
3 4 ,2 1 4 .5 5
372
191
(1 3 2 )
(3 8 . 8 2 )
4 4 .3 1
2 9 .3 0
6 .7 7
-
1 2 ,8 2 8 .5 4
1 1 ,0 7 5
8 ,0 5 0
925
1 0 .0 8
1 2 .0 4
1 8 .8 8
1 .8 7
1 .9 7
5 9 ,9 0 8 .3 5
970
(2 4 0 )
(1 8 . 1 1 )
7 5 .9 8
4 5 .1 3
3 .0 6
2 .2 4
1 5 ,6 5 3 .0 6
356
496
204
126
5 4 .7 8
5 .2 2
6 .7 1
0 .9 5
-
1 ,4 6 5
1 ,7 9 5
1 ,3 0 0
65
4 .6 4
2 3 .0 4
2 2 .0 3
3 .8 6
3 .5 6
1 3 ,9 5 4 .1 3
6 ,6 1 9 .0 7
3 ,6 2 4
728
1 8 .3 7
2 0 .1 9
1 9 .8 2
4 .6 5
4 .7 8
4 7 2 ,7 5 1 .9 8
1 6 ,9 0 0
1 0 ,7 2 5
5 0 .4 7
1 5 .8 4
1 6 .9 6
1 .9 4
2 .7 9
1 1 9 ,2 7 1 .0 7
1 2 ,2 0 0
3 1 .4 4
4 6 .3 1
5 2 .8 2
6 2 .9 3
7 0 .5 3
3 8 9 ,1 3 0 .0 0
(4 5 5 )
(1 9 . 2 8 )
1 6 .1 0
1 3 .5 8
1 .8 6
1 .3 5
1 7 ,0 8 7 .7 6
(6 4 5 )
(2 5 . 2 9 )
1 2 .0 1
1 0 .3 4
3 .1 3
1 .7 3
2 5 ,8 5 8 .2 4
Source: Bloomberg, Sinarmas Investment Research
www.sinarmassekuritas.co.id
See important disclaimer at the end of this report
5
Macro data Sectors Description
1-Day (%)
5-Days (%) 1-M onth (%)
YTD (%)
Property
(0.17)
2.13
(0.51)
(2.15)
Basic Industry
0.93
2.74
1.12
13.95
Trade
0.34
2.52
0.69
7.34
(0.00)
0.61
0.34
21.95
Miscellaneous Industry
(1.01)
(0.92)
(1.58)
(3.58)
Consumer
0.49
1.60
4.16
10.19
(0.40)
(0.63)
(1.37)
15.84
Agriculture
0.52
(0.32)
3.24
(3.84)
Mining
(0.13)
1.29
(2.23)
6.38
Aug-17
Jul-17
Inflation YTD (in %)
2.53
1.66
Inflation YoY (in %)
3.82
3.88
-0.07
0.22
128.79
127.76
1-Day (%) 1-M onth (%)
YTD (%)
Finance
Infrastructure
Economic Indicators Economic P arameters
Inflation MoM (in %) Foreign Reserves (in USD bn)
FOREX
Spot Rate
USD/IDR
13,321.00
0.14
0.17
1.14
USD/CNY
6.59
(0.24)
1.15
5.38
USD/EUR
0.84
(0.02)
(1.53)
(11.93)
USD/JPY
112.22
0.23
(2.36)
4.22
USD/SGD
1.35
(0.04)
0.92
7.17
USD/AUD
1.26
0.19
(0.02)
(9.01)
USD/GBP
0.74
0.04
(5.54)
(9.07)
Lending and Deposit Rates
(in %)
JIBOR (in IDR)
6.20
LIBOR (in GBP)
0.72
SIBOR ( in USD)
1.46
Indonesia 5-Year Government Bonds Yield
6.01
Indonesia 10-Year Government Bonds Yield
6.44
Indonesia 15-Year Government Bonds Yield
6.96
Source: Bloomberg, Sinarmas Investment Research
www.sinarmassekuritas.co.id
See important disclaimer at the end of this report
6
Stock Recommendation
Source: Bloomberg, Sinarmas Investment Research
www.sinarmassekuritas.co.id
See important disclaimer at the end of this report
7
State Budget INDICATOR GDP Growth (%, YoY)
2016
2017
APBNP
RAPBN
5,2%
5,3%
Exchange rate (USD/IDR)
13500
13300
3 Months SPN (%)
5,5%
5,3%
Inflation (%, YoY)
4%
Indonesian Crude Oil (USD/barrel)
40
Oil Lifting ( thousands barrel/day)
Business
IPO Price (Rp)
Totalindo Eka Persada
Mark Dynamics Indonesia Integra Indocabinet
Buyung Poetra Sembada
305-400
Armidian Karyatama
300-500
Map Boga Adiperkasa Megapower Makmur
200-250
Trafoindo Prima Perkasa Hartadinata Abadi
5
68,6
TOTO
3
TBLA
Status
22
ICBP
154
BSDE
Rights Issue
4
:
47
MMLP AGRO SDRA
3137
29741
: : :
65,0
1637,5
245,1
1201,6
100 6
6250
100000
www.sinarmassekuritas.co.id
16/6/2017-20/6/2017 15/6/2017-16/6/2017 14/6/2017-16/6/2017 13/6/2017-14/6/2012 12/6/2017-14/6/2017
23/6/2017 22/6/2017 21/6/2017 20/6/2017 20/6/2017
5/7/2017
13/6/2017
14/06/2017
16/6/2017
7/7/2017
Price (Rp)
TPIA
1
23/6/2017
23/6/2017
19/6/2017
9/6/2017
1000000
MSKY
16/6/2017-19/6/2017
19/6/2017-20/6/2017
15/06/2017
9/6/2017
: :
700,0
2692,3
14/6/2017
235
940458 25
12/7/2017
Payment
9/6/2017
BKSW BUMI
22/6/2017-05/7/2017
Recording
12/6/2017
Ratio
Ticker
160,0
Underwriter
Ex Date
13/6/2017
5
INDF
Listing
1737
Cum Date 14/6/2017
30
KLBF
Offering Date (2016)
1500,0
Dividend
TOWR
Issued Shares (Mn) 2150,0
DPS (Rp)
1,15
1786
Upcoming IPO
ARNA
780
1,11
Total State Budget (in IDR trillion)
Stock
45
820
Gas Lifting (thousands, BOE/day)
Company
4%
15/06/2017
19/6/2017
14/06/2017
16/6/2017
13/06/2017
15/6/2017
12/06/2017
14/6/2017
12/06/2017
14/6/2017
12/06/2017
14/6/2017
Cum Date
EX Date
26/7/2017
27/7/2017
3/7/2017
4/7/2017
7/7/2017 6/7/2017 6/7/2017 6/7/2017 4/7/2017 6/7/2018
Trading
250
926,16
7/7/2017
19/6/2017 14/6/2017
10/7/2017 20/6/2017 15/6/2017
See important disclaimer at the end of this report
2/8/2017-8/8/2017
14/7/2017-27/7/2017 10/7/2017-14/7/2017 3/7/2017-7/7/2017
21/6/2017-10/7/2017
Picks of The Day MAPI - Daily 9/20/2017 4:05:00 PM Open 6850, Hi 6900, Lo 6800, Clos e 6875 (0.7%) MA(Clos e,50) = 6,578.00 7,400 7,200 7,000 6,875 6,800 6,578 6,600 6,400 6,200 6,000 5,800 5,600 5,400 5,200 5,000 4,800 4,600 4,400 4,200 Aug Sep Oct Nov Dec MAPI - MACD(12,26) = 86.99, Signal(12,26,9) = 117.46
2017
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep 200 117.464 86.9885 100 0
Aug Sep Oct Nov Dec MAPI - Stoch %K(15,3) = 43.14, Stoch %D(15,3,3) = 48.69
2017
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
-100 80 48.6928 43.1373 20
MAPI - RSI(15) = 51.95 70 51.9483
C reat ed wit h Am iBrok er - adv anc ed c hart ing and t ec hnic al analy s is s of t ware. ht t p: / / www. am ibrok er. c om
MAPI : Buy on Weakness MAPI memiliki indikator Stoc osc dan Rsi yang mengindikasikan pola Uptrend. MAPI belum berhasil menembus Resistance pada level harga 6950 dan terbuka peluang untuk mencoba level Support pada level 6825 dalam jangka pendek. Trading Range : 6750 — 7150. Fundamental :
UNTR - Daily 9/20/2017 4:05:00 PM Open 31900, Hi 32200, Lo 31250, Clos e 31975 (2.8%) MA(Clos e,50) = 29,766.00
31,975 32,000
30,000 29,766
28,000
26,000
24,000
22,000
20,000
18,000
16,000 Aug
Sep
Oct
Nov
Dec
2017
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
UNTR - MACD(12,26) = 450.84, Signal(12,26,9) = 445.72
1,000 450.836 500 445.724 0 -500
Aug Sep Oct Nov Dec UNTR - Stoch %K(15,3) = 68.27, Stoch %D(15,3,3) = 56.87
2017
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep 68.266 80 56.8743 20
UNTR - RSI(15) = 60.54
70 60.5406
C reat ed wit h Am iBrok er - adv anc ed c hart ing and t ec hnic al analy s is s of t ware. ht t p: / / www. am ibrok er. c om
30
UNTR : Trading Buy UNTR memiliki indikator Stoc osc dan Rsi yang mengindikasikan pola Uptrend. UNTR berhasil menembus Resistance pada level 31975 dan terbuka peluang untuk mencoba level Resistance pada level 32350 dalam jangka pendek, Trading range : 31800 — 32750. Fundamental :
www..sinarmassekuritas.co.id
See important disclaimer at the end of this report
Picks of The Day 7,600
BBNI - Daily 9/20/2017 4:10:00 PM Open 7350, Hi 7375, Lo 7300, Clos e 7375 (0.3%) MA(Clos e,50) = 7,238.00
7,400 7,375 7,238 7,200 7,000 6,800 6,600 6,400 6,200 6,000 5,800 5,600 5,400 5,200 5,000
Aug Sep Oct Nov Dec BBNI - MACD(12,26) = 19.25, Signal(12,26,9) = 20.07
2017
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
4,800 200 100 20.0691 19.2502 0
Aug Sep Oct Nov Dec BBNI - Stoch %K(15,3) = 78.21, Stoch %D(15,3,3) = 63.62
2017
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
-100
78.2051 80 63.6182
20 BBNI - RSI(15) = 60.18 70 60.1783
30 C reat ed wit h Am iBrok er - adv anc ed c hart ing and t ec hnic al analy s is s of t ware. ht t p: / / www. am ibrok er. c om
BBNI : Trading Buy BBNI memiliki indikator Macd Stoc osc dan Rsi mengindikasikan pola Uptrend, BBNI berhasil menembus Resistance di level harga 7350 sehingga terbuka peluang untuk menguji Resistance dalam jangka pendek pada level harga 7425. Trading Range : 7275 — 7500. Fundamental :
ICBP - Daily 9/20/2017 4:11:00 PM Open 8850, Hi 8875, Lo 8800, Clos e 8850 (0.3%) MA(Clos e,50) = 8,588.50
10,400 10,200 10,000 9,800 9,600 9,400 9,200 9,000 8,850 8,800 8,588.5 8,600 8,400 8,200 8,000 7,800 7,600
Aug
Sep
Oct
Nov
Dec
2017
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
ICBP - MACD(12,26) = 60.10, Signal(12,26,9) = 54.04 200 60.0978 54.0449 0 -200 Aug Sep Oct Nov Dec ICBP - Stoch %K(15,3) = 89.10, Stoch %D(15,3,3) = 74.08
2017
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep 89.1026 80 74.0843
20 ICBP - RSI(15) = 59.96
70 59.9568
30 C reat ed wit h Am iBrok er - adv anc ed c hart ing and t ec hnic al analy s is s of t ware. ht t p: / / www. am ibrok er. c om
ICBP : Trading Buy ICBP memiliki indikator Stoc osc, Macd, dan Rsi mengindikasikan pola Uptrend, ICBP berhasil menembus Resistance di level harga 8850 sehingga terbuka peluang untuk menguji Resistance dalam jangka pendek pada level harga 8950. Trading range : 8750 — 9100. Fundamental :
Www.sinarmassekuritas.co.id
See important disclaimer at the end of this report
Trading View These recommendations are based on technical indicators and are suitable for daily trading purposes. TICKER AGRICULTURE
REC
PRICE
ENTRY
EXIT
S2
S1
R1
R2
AALI
Sell
14,875
14,758
15,000
14,667
14,817
14,967
15,058
LSIP
Sell
1,420
1,397
1,435
1,383
1,408
1,433
1,447
BWPT Finance
Buy
288
249
290
239
269
299
309
BMRI
Sell
6,600
6,517
6,625
6,483
6,558
6,633
6,667
BBRI
Sell
15,025
14,925
15,025
14,900
14,975
15,050
15,075
BBCA
Sell
19,050
18,917
19,100
18,858
18,983
19,108
19,167
BBNI
Buy
7,375
7,275
7,375
7,250
7,325
7,400
7,425
BBTN
Sell
3,210
3,177
3,260
3,143
3,193
3,243
3,277
BJTM
Sell
690
677
690
673
683
693
697
BJBR CONSUM ER GOODS
Buy
2,570
2,497
2,680
2,423
2,533
2,643
2,717
INDF
Buy
8,725
8,425
8,725
8,350
8,575
8,800
8,875
ICBP
Buy
8,850
8,767
8,875
8,733
8,808
8,883
8,917
GGRM
Sell
68,950
66,750
68,950
66,200
67,850
69,500
70,050
UNVR
Sell
51,000
50,267
51,150
50,008
50,633
51,258
51,517
CPIN Sell BASIC & M ISC. INDUSTRY
2,710
2,663
2,720
2,647
2,687
2,727
2,743
ASII
Sell
7,825
7,692
7,925
7,608
7,758
7,908
7,992
SMGR
Sell
10,100
9,950
10,125
9,900
10,025
10,150
10,200
INTP
Sell
19,250
18,717
19,250
18,583
18,983
19,383
19,517
SMCB INFRASTRUCTURE
Buy
830
820
835
815
825
835
840
TLKM
Sell
4,690
4,663
4,710
4,647
4,677
4,707
4,723
PGAS
BoW
1,625
1,598
1,635
1,587
1,612
1,637
1,648
JSMR
BoW
5,850
5,633
5,975
5,517
5,742
5,967
6,083
TBIG RETAIL
Sell
6,575
6,525
6,600
6,500
6,550
6,600
6,625
MAPI
BoW
6,875
6,758
6,900
6,717
6,817
6,917
6,958
RALS
Buy
960
933
990
912
947
982
1,003
ACES
Buy
1,125
1,088
1,130
1,077
1,107
1,137
1,148
MPPA M INING
BoW
625
595
640
580
610
640
655
PTBA
BoW
10,425
10,258
10,525
10,167
10,342
10,517
10,608
ADRO
Sell
1,860
1,817
1,875
1,798
1,838
1,878
1,897
ITMG
BoW
19,725
19,275
20,300
18,875
19,500
20,125
20,525
ANTM
BoW
680
660
700
645
670
695
710
TINS
BoW
890
867
905
853
878
903
917
31,975
30,858
32,200
30,467
31,417
32,367
32,758 411
UNTR Buy PROPERTY & CONSTRUCTION ASRI
Buy
396
383
404
375
389
403
LPKR
Buy
745
728
760
717
737
757
768
CTRA
Buy
1,165
1,122
1,190
1,098
1,143
1,188
1,212
APLN
Buy
296
289
302
285
293
301
305
SMRA
Buy
1,085
1,052
1,085
1,043
1,068
1,093
1,102
SSIA
Sell
625
605
625
600
615
630
635
BSDE
Sell
1,800
1,780
1,820
1,765
1,790
1,815
1,830
PTPP
Buy
2,620
2,533
2,670
2,487
2,577
2,667
2,713
WSKT
BoW
1,905
1,878
1,925
1,862
1,892
1,922
1,938
WIKA
Buy
1,905
1,858
1,925
1,837
1,882
1,927
1,948
ADHI
Buy
2,040
1,993
2,090
1,957
2,017
2,077
2,113
Source: Bloomberg, Sinarmas Investment Research
www..sinarmassekuritas.co.id
See important disclaimer at the end of this report
PT Sinarmas Sekuritas Sinarmas Land Plaza Tower III, 6th Floor.
Tel: +62 21 392 5550
Jakarta 10350, Indonesia
[email protected]
Jl. M. H. Thamrin No. 51
Fax: +62 21 392 5540
Equity Research Team
www.sinarmassekuritas.co.id
HEAD OF RESEARCH
RESEARCH ASSOCIATE
Banking, Telecommunication, Automotive
Coal & Mining, Retail
Evan Lie Hadiwidjaja
Tel: +62 21 3925550 Ext: 610
[email protected] SENIOR EQUITY ANALYST
Wilbert
Consumer Goods, Tobacco, Plantation Tel: +62 21 3925550 Ext: 611
[email protected] EQUITY ANALYST Henny Indrawati
Construction, Cement
Tel: +62 21 3925550 Ext: 610
[email protected]
Richard Suherman
Tel: +62 21 3925550 Ext: 610
[email protected] RESEARCH ASSOCIATE Richardson Raymond
Property, Telecommunication Tel: +62 21 3925550 Ext: 611
[email protected] TECHNICAL ANALYST Eddy Wijaya
Tel: +62 21 3925550 Ext: 159
[email protected]
DISCLAIMER This material is issued by PT Sinarmas Sekuritas, a member of Indonesia Stock Exchanges, represent the opinion of PT Sinarmas Sekuritas, derived its judg-
ment from sources deemed reliable, however, PT Sinarmas Sekuritas and its affiliated cannot guarantee its accuracy and completeness. PT Sinarmas Sekuritas or its affiliates may be involved in transactions contrary to any opinion herein or have positions in the securities recommended herein and may seek or
will seek investment banking or other business relationships with the companies in this material. PT Sinarmas Sekuritas, its employees and its affiliates, expressly disclaim any and all liability for representation or warranties, expressed or implied, here in or omission there from or for any loss how so ever
arising from any use of this material or its contents or otherwise arising in connection there with. Opinion expressed in this material are our present view and are subject to change without notice. For further information please contact our number +62 21 392 5550 or fax +62 21 392 2320.
