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OSODaily 06 Desember 2019

ODAY TOP STOCK TRADED (LQ45) JAKARTA COMPOSITE INDEX

6,152.12 39.24

0.64%

Previous 6,112.88 Lowest

6,131.59 Highest 6,157.93 Val IDR bn

6.919

Volbn 11.238 Mkt Cap IDRtr

7,079.47 Net Forg 1DIDRbn 37.68 Net ForgYTDIDRbn

40,420.18

Return YTD (%) (0.68) Month to date (%)

2.33

Indices

Last Chg% YTD% Americas

Dow Jones United States 27,677.79 0.10 18.65 S&P 500 United States 3,117.43 0.15 24.36 Nasdaq United States 8,570.70 0.05 29.17 EIDO United States 24.93 1.09 0.44 EMEA

FTSE 100 United Kingdom 7,137.85 (0.70) 6.09

CAC 40 France 5,801.55 0.03 22.64 D DAX Germany 13,054.80 (0.65) 23.64

Asia Pacific

Nikkei Japan 23,135.23 0.71 16.41 Shanghai China 2,878.12 0.74 16.26 TWSE Taiwan 11,510.47 0.73 19.20 KOSPI Korea 2,068.89 (0.39) 0.97 KLSE Malaysia 1,560.93 0.17 (7.51) ST – Times Singapore 3,159.79 0.46 3.44 Sensex India 40,850.29 0.04 13.30 Hangseng Hongkong 26,062.56 0.59 1.44

Sectoral Previous Last Chg% YTD% AGRICULTURE 1,396.60 1.83 (10.73) 1,396.60 MINING 1,481.13 1.55 (16.63) 1,481.13 MISC INDUSTRY 1,190.35 1.91 (14.63) 1,190.35 BASIC INDUSTRY 968.48 1.18 13.31 968.48 CONSUMER GOODS 2,035.58 (0.33) (20.77) 2,035.58 PROPERTY 499.79 0.65 11.62 499.79 INFRASTRUKTUR 1,139.43 0.90 7.06 1,139.43 FINANCE 1,294.83 0.59 10.14 1,294.83 MANUFAKTURE 1,443.48 0.52 (10.79) 1,443.48 TRADE 765.04 0.34 (2.40) 765.04 LQ 45 986.36 1.26 0.37 986.36

Commodities Previous Lastest Chg% YTD%

Oil (USD/bbl) 58.43 58.43 - 28.56 Gold (USD tr.oz) 1,474.62 1,476.05 0.10 15.08 Nickel (USD/mtrc ton) 13,120.00 13,275.00 1.18 24.18 Tin (USD/mtrc ton) 16,750.00 16,800.00 0.30 (13.74) Copper (USD/mtrc ton) 5,885.00 5,888.00 0.05 (1.29) CPO (MYR/ton) 2,673.00 2,715.00 1.57 35.48 Coal (USD/ton) 68.90 68.40 (0.73) (33.27)

Currencies

Last Chg% YTD% IDR / USD

14,068.00 0.33 2.29

IDR / AUD

9,616.05 0.62 5.72 IDR / EUR

15,602.41 0.24 5.41

IDR /SGD

10,331.68 0.07 2.16 IDR / JPY

129.13 0.15 1.16

IDR / GBP

18,480.22 (0.83) (0.88) Global Macro Economics CB Rate CPI YoY GDP YoY United States 1.75 1.80 2.10 Euro Area 0.00 1.00 1.20 United Kingdom 0.75 1.50 1.00 Japan 0.10 0.20 1.30 China 4.35 3.80 6.00 Domestic macro Economics Lastest Chg% YTD% Jibor 5.00 (15.02) 28.20 GovBonds (5y) 6.52 (0.50) (17.57) GovBonds (10y) 7.12 (0.64) (11.29)

Inflasi YoY 3.00

Inflasi MoM 0.14 Bi rate 5.00 GDP Growth YoY (%) 5.02

Foreign Reserve (Bn) 126.70 Government Bonds Yield% Wow% Ytd% 7 Year 7.12 6.91 6.91 15 Year 7.58 7.58 7.58 20 Year 7.56 7.56 7.56 30 Year 7.76 7.76 7.76

Source: Bloomberg LP & OSO Research Team

Market Review Pada perdagangan Selasa (05/12) IHSG ditutup menguat sebesar 0.64% ke level 6,152.12. Sembilan dari sepuluh indeks sektoral kompak ditutup dalam zona hijau, dimana sektor aneka industri dan perkebunan memimpin penguatan masing-masing sebesar 1.91% dan 1.83%. Adapun saham yang menjadi penggerak indeks diantaranya ; BBRI, TLKM, ASII, BMRI, SMGR. Pelaku pasar asing membukukan aksi beli bersih (Netbuy) senilai Rp 36 miliar. Nilai tukar rupiah terapresiasi sebesar 0.38% ke level 14.068. Global Review Pada perdagangan semalam (05/12) indeks utama Wall Street kompak ditutup dalam zona hijau, dimana S&P naik 0.15%, Dow Jones dan Nasdaq menguat sebesar 0.10% dan 0.05%. Pergerakan indeks masih cenderung tertahan oleh aksi wait and see pasar menantikan kejelasan kesepakatan dagang AS-China yang dinilai kesepakatan tersebut harus selesai sebelum tanggal 15 desember atau sebelum AS menggumumkan tarif impor baru terhadap barang China. Jika kesepakatan tersebut tidak terjadi, maka akan menciptakan kekhawatiran baru terhadap hubungan kedua negara kedepannya. JCI Prediction IHSG ditutup melemah sebesar 0.34% ke level 6.112. IHSG ditutup bearish candl, adapun indikator Stochastic bullish dan MACD Histogram bergerak ke arah positif dengan Volume turun. Kami perkirakan IHSG berpeluang kembali bergerak menguat dengan pergerakan di kisaran level 6.103 - 6.194. Major Economic Release

Consumer Confidence Indonesia bulan

November naik ke level 124.2 dari

sebelumnya di level 118.4.

Balance of Trade United States bulan

Oktober defisit senilai US$ 47.2 miliar turun

dari sebelumnya senilai US$ 51.1 miliar.

Factory Orders United States bulan Oktober

naik sebesar 0.3% dibandingkan

sebelumnya turun sebesar 0.8% (MoM).



TODAY TOP STOCK TRADED (LQ45)

Top Gainers

Last Chg% YTD% MC (T) Beta

ADRO IJ Equity

1,460 7.35 20.16 46.70 1.43

SMGR IJ Equity

12,425 5.97 8.04 73.70 1.57

WIKA IJ Equity

1,900 5.56 14.80 17.04 1.66

PGAS IJ Equity

2,200 5.26 3.77 53.33 1.81

ERAA IJ Equity

1,490 4.93 (32.27) 4.75 1.08

Top Losers

Last Chg% YTD% MC (T) Beta

HMSP IJ Equity

2,010 (2.43) (45.82) 233.80 1.29

EXCL IJ Equity

3,350 (1.76) 69.19 35.80 1.23

JSMR IJ Equity

5,200 (1.42) 21.50 37.74 1.12

ITMG IJ Equity

10,100 (0.98) (50.12) 11.41 1.50

JPFA IJ Equity

1,585 (0.94) (26.28) 18.59 1.23

Top Volume

Last Volume (Mn) YTD% MC (T) Beta

ADRO IJ Equity

1,460 156.4 20.2 46.70 1.43

TLKM IJ Equity

4,060 118.5 9.8 402.19 0.79

BRPT IJ Equity

1,375 79.5 187.7 122.39 1.25

PGAS IJ Equity

2,200 76.9 3.8 53.33 1.81

BBRI IJ Equity

4,220 72.8 15.3 520.52 1.64

Top Value

Last Value (Bn) YTD% MC (T) Beta

TLKM IJ Equity

4,060 302.4 9.8 402.19 0.79

BMRI IJ Equity

7,175 283.6 (2.7) 334.83 1.59

BBCA IJ Equity

31,700 271.5 21.9 781.56 0.96

BBRI IJ Equity

4,220 184.5 15.3 520.52 1.64

BBNI IJ Equity

7,450 155.1 (15.3) 138.93 1.66

BENCHMARK INDICES COMPARISON Indices Country Latest P/E PBV Target 2019F Asia Pacific

IHSG

Indonesia 6,152 19.23 2.05 6,100

Nikkei

Japanese 23,300 18.55 1.78 24,848

Shanghai

China 2,899 13.97 1.42 3,317

TWSE

Taiwan 11,595 18.79 1.73 12,235

KOSPI

Korea 2,061 16.02 0.80 3,026

KLSE

Malaysia 1,564 18.00 1.57 1,696

ST - Times

Singapore 3,174 12.02 1.07 3,521

Sensex

India 40,859 29.13 2.95 45,131

Hangseng

Hongkong 26,217 11.13 1.21 31,966

JAKARTA COMPOSITE INDEX MOVERS

Movers

Latest Chg% YTD% MC (T) Beta

BBRI IJ Equity

4220 2.18 15.30 521 1.64

TLKM IJ Equity

4060 1.75 9.80 402 0.80

ASII IJ Equity

6700 2.29 (18.54) 271 1.26

BMRI IJ Equity

7175 1.41 (2.71) 335 1.58

SMGR IJ Equity

12425 5.97 8.04 74 1.60

Laggard


HMSP IJ Equity

2010 (2.43) (45.82) 234 1.30

BBCA IJ Equity

31700 (0.39) 21.92 782 0.95

TAMU IJ Equity

390 (13.33) (7.14) 15 0.47

MEGA IJ Equity

5750 (4.17) 17.35 40 (0.31)

BALI IJ Equity

1030 (23.99) (33.97) 4 0.27

Movers


OSO MANAJEMEN INVESTASI

Mutual Fund Latest 1 Month (%) YTD% Oso Sustainability Fund

1,329.41 (4.54) (11.92)

Oso Syariah Equity Fund

721.49 (19.98) 47.82

Source: Bloomberg LP & OSO Research Team



COMPARATION OF JCI PERFORMANCE (SEAG)

SEA


OSODaily 05 April 2019


MACRO ECONOMIC & INDUSTRY NEWS

Optimisme konsumen terhadap kondisi perekonomian Indonesia pada November 2019 terlihat menguat. Bank

Indonesia (BI) mencatat Indeks Keyakinan Konsumen (IKK) pada November 2019 sebesar 124,2 atau meningkat dari

bulan Oktober 2019 yang sebesar 118,4. Indeks Kondisi Ekonomi saat ini (IKE) yang semula tercatat 104,8 pada

bulan Oktober 2019, meningkat 4,5 poin menjadi 109,3 pada bulan November 2019.

Jepang merilis paket fiskal senilai US$ 120 miliar pada Kamis untuk mendukung pertumbuhan ekonominya.

Perdana Menteri Jepang Shinzo Abe mengumumkan paket kebijakan fiskal senilai JPY 13 triliun (US$ 119,7 miliar)

yang ukurannya telah dilaporkan sebelumnya. Pemerintah diperkirakan akan mengumumkan rincian lebih lanjut

besok setelah kabinet menyetujuinya.

Defisit neraca perdagangan Amerika Serikat (AS) turun ke level terendah dalam hampir satu setengah tahun

terakhir pada Oktober tahun ini. Departemen Perdagangan AS mengatakan, defisit neraca dagang turun 7,6%

menjadi US$ 47,2 miliar, terendah sejak Mei 2018, seiring impor juga ekspor barang yang menurun.

CORPORATES NEWS PT Merdeka Copper Gold Tbk (MDKA) tengah berupaya untuk mengoptimalkan aset-aset tambang yang dimiliki.

Selain mengoperasikan tambang Tujuh Bukit di Banyuwangi, MDKA pun sedang mengembangkan proyek tambang

tembaga Wetar di Pulau Wetar, Maluku. MDKA membidik produksi 18.000 ton hingga 20.000 ton tembaga pada

tahun ini. Sampai kuartal ketiga, realisasi produksi tembaga sebanyak 13.500 ton.

PT Ifishdeco Tbk (IFSH) berencana membangun smelter kedua lewat anak usahanya, PT Bintang Smelter Indonesia.

Dana yang digelontorkan untuk pembangunan smelter baru sebesar Rp 1,5 triliun. Pendanaan dari kas dan ada

investor dari China, Huwang Hee.

Pada bulan Oktober 2019, anak perusahaan ADRO yakni PT Adaro Indonesia menerbitkan obligasi bertenor lima

tahun senilai US$ 750 juta. ADRO bertindak sebagai induk penjamin (parent guarantor) untuk obligasi ini.

Perolehan bersih dari obligasi ini akan digunakan untuk membayar sebagian utang Adaro Indonesia ketika

mencapai jatuh tempo berdasarkan jadwal amortisasi yang ada serta untuk keperluan umum perusahaan.

PT Indonesia Transport & Infrastructure Tbk (IATA) akan segera mencatatkan saham baru dalam rangka

penambahan modal tanpa hak memesan efek terlebih dahulu (HMETD). Dalam aksi korporasi yang kerap disebut

dengan private placement ini, IATA menerbitkan saham baru sebanyak 718,15 juta saham.

PT Kino Indonesia Tbk (KINO) akan membagikan dividen interim tahun buku 2019. Emiten sektor konsumen ini

akan membagikan dividen interim Rp 25 per saham. Sedangkan total dividen yang dibagi adalah Rp 35,71 miliar.

PT Ifishdeco Tbk (IFSH) mengatakan Peraturan Menteri Energi dan Sumber Daya Mineral (ESDM) Nomor 11 tahun

2019, batas waktu terakhir untuk ekspor bijih nikel yakni akhir Desember 2019. Artinya, awal Januari 2020 para

pengusaha sudah dilarang ekspor. Peraturan pemerintah ini bisa mempengaruhi kinerja IFSH tahun 2020 yang

diperkirakan laba bersih tahun depan akan turun dari proyeksi tahun ini yang sebesar Rp 180 miliar.

Sumber: Kontan, Bisnis Indonesia, Iqplus

NOTE: Positive Sentiment Negative Sentiment Netral




Technical

Medium/Minor trend : Sideways MACD line/histogram : Positif Stochastic : Bullish Volume : Meningkat

Recommendation : Trading Buy Entry Buy : 6.650 – 6.700 Target Price : 6.800 – 6.900 Support : 6.575 – 6.600 Cutloss : 6.550

DAILY TECHNICAL

Astral Tol Nusantara Bersama CPPIB Menyelesaikan Akuisisi 55% Saham LMS

Astra Tol Nusantara (Astra Infra), anak usaha Astra International Tbk (ASII), bersama mitra strategisnya Canada Pension Plan Investment Board (CPPIB) menyelesaikan akuisisi 55% saham Lintas Marga Sedaya (LMS), pengelola ruas tol Cikopo-Palimanan (Cipali) dari PLUS Expressways International Bhd. Dengan selesainya proses akuisisi ini, maka saham LMS kini seluruhnya dimiliki oleh Astra Infra 55% dan CPPIB 45%. Hingga Oktober 2019, trafik tol Astra Infra telah mencapai 87,31 juta kendaraan, meningkat 22% YoY.

Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 6.800. Apabila break 6.800 next harga ke level 6.900. Hati-hati jika harga tidak mampu break up atau menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 6.550 jika sudah melewati support 6.575 – 6.600.

|ASII|PE : 12.81x | PBV : 1.50x | ROE: 11.70% | NPM : 8.96% | DER : 0.98x | Fair Value : -|

Souce: OSO Research Team

BUY

NOTE:

https://stocks.asia/go?h=369ac66ff5620c4f1cec6153dacc9651




Technical

Medium/Minor trend : Uptrend MACD line/histogram : Positif Stochastic : Bullish Volume : Meningkat

Recommendation : Buy Entry Buy : 1.080 – 1.105 Target Price : 1.125 – 1.140 Support : 1.075 – 1.080 Cutloss : 1.070

DAILY TECHNICAL

BUY |MAPI|PE : 21.25x | PBV : 2.60x | ROE: 12.14% | NPM : 4.17% | DER : 0.85x | Fair Value : -|

Saham MAPI | MAP BUKA GERAI BOOTS DI INDONESIA PT Mitra Adiperkasa Tbk (MAPI), perusahaan ritel gaya hidup terdepan di Indonesia mengumumkan kesepakatan untuk bermitra dengan Walgreens Boots Alliance, Inc. untuk memulai bisnis ritel farmasi, kesehatan dan kecantikan bermerek BOOTS di Indonesia. Gerai pertama BOOTS di Indonesia direncanakan untuk buka di semester ke-2 tahun 2020, menawarkan serangkaian merek eksklusif BOOTS, serta merek-merek Indonesia dan internasional terdepan. Melalui kemitraan ini, MAP berencana menawarkan pengalaman lengkap BOOTS di Indonesia, sebagaimana pencapaian BOOTS yang telah diraih secara global terkait inisiatif berkelanjutan, termasuk memastikan hidup yang sehat dan mempromosikan well-being untuk segala usia, yang menekankan komitmen kuat MAP terhadap agenda ESG.



NOTE:




Technical

Medium/Minor trend : Sideways MACD line/histogram : Positif Stochastic : Bullish Volume : Meningkat

Recommendation : Trading Buy Entry Buy : 4.190 – 4.220 Target Price : 4.300 – 4.350 Support : 4.160 – 4.170 Cutloss : 4.150

DAILY TECHNICAL

BUY |BBRI|PE : 15.75x | PBV : 2.61x | ROE: 16.55% | NPM : 22.90% | DER : 5.54x | Fair Value : - |

Bidik Peluang Bisnis Baru, BRI Gaet Lebih Banyak Fintech di 2020

Bank Rakyat Indonesia (BRI) akan lebih gencar bekerja sama dengan startup teknologi finansial (fintech) pada tahun depan sehingga bisa menghadirkan solusi keuangan yang terintegrasi bagi masyarakat. Kerja sama tersebut digadang-gadang sebagai peluang baru untuk tumbuh. Direktur Digital, Teknologi Informasi dan Operasi Bank BRI Indra Utoyo mengatakan, sejauh ini, pihaknya sudah bekerja sama dengan hampir semua fintech di bidang sistem pembayaran, yaitu OVO, Gopay, dan Link Aja. Selain itu, fintech di bidang pinjaman Investree.



NOTE:

https://stocks.asia/go?h=de7a8bc750c261a09b2c34267d2539cb




Sector Rotation

Mingguan

Bulanan



FUNDAMENTAL ANALYSIS (LQ 45)

Last Price Change (%) Chg. Ytd (%) PBV (x) PE (x) P/EBITDA ROA (%) ROE (%) DER (x) Fair Value Up-Side Recommendation

SECTOR BASIC INDUSTRY

BRPT IJ Equity 1,375 (0.36) 187.66 7.35 165.63 13.03 0.60 3.53 98.23 640 -53% Sell

CPIN IJ Equity 6,900 (0.72) (4.50) 5.65 31.09 19.30 13.14 19.08 22.95 5,615 -19% Sell

INKP IJ Equity 7,650 3.03 (33.77) 0.75 9.61 3.20 3.57 8.09 113.83 11,300 48% Buy

INTP IJ Equity 20,550 1.36 11.38 3.38 44.39 25.52 6.43 7.58 0.50 20,380 -1% Sell

JPFA IJ Equity 1,585 (0.94) (26.28) 1.85 12.02 4.87 6.39 16.10 59.63 1,958 24% Buy

SMGR IJ Equity 12,425 5.97 8.04 2.36 32.25 9.46 3.48 7.46 30.13 14,536 17% Buy

TKIM IJ Equity 11,250 1.81 1.35 1.81 16.59 19.52 5.01 11.50 120.71 13,000 16% Buy

TPIA IJ Equity 9,700 1.57 63.71 6.95 123.23 41.29 3.21 5.68 34.35 4,733 -51% Sell

Industry Average in LQ45 3.76 54.35 17.02 5.23 9.88 60.04

Total of Industry Average 1.69 25.91 9.38 1.63 (12.15) 101.04

SECTOR CONSUMER GOODS

GGRM IJ Equity 52,900 (0.14) (36.74) 2.15 10.98 6.60 13.37 20.54 38.38 60,911 15% Buy

HMSP IJ Equity 2,010 (2.43) (45.82) 7.32 16.68 12.63 28.65 44.36 0.33 2,317 15% Buy

ICBP IJ Equity 11,250 1.35 7.66 5.48 26.34 15.39 13.90 22.21 9.06 12,858 14% Buy

INDF IJ Equity 7,875 0.32 5.70 1.91 14.17 5.53 5.05 14.20 59.18 9,099 16% Buy

KLBF IJ Equity 1,565 (0.32) 2.96 4.79 28.57 18.80 13.84 17.56 2.34 1,730 11% Buy

UNVR IJ Equity 42,150 0.36 (7.16) 46.69 43.97 28.76 35.85 92.26 20.26 46,457 10% Buy


Total of Industry Average 4.67 25.13 11.96 8.78 4.37 54.55

SECTOR INFRASTRUCTURE

EXCL IJ Equity 3,350 (1.76) 69.19 1.89 130.48 3.56 (4.39) (13.14) 125.77 4,053 21% Buy

JSMR IJ Equity 5,200 (1.42) 21.50 2.08 19.52 5.81 2.28 11.28 157.26 6,616 27% Buy

PGAS IJ Equity 2,200 5.26 3.77 1.46 17.58 3.06 3.09 7.33 109.43 2,466 12% Buy

TLKM IJ Equity 4,060 1.75 9.80 4.04 19.85 6.12 9.65 21.31 37.58 4,755 17% Buy


Total of Industry Average 2.47 30.03 11.17 (2.96) (2.38) 131.60

Source: Bloomber LP





SECTOR MINING

ADRO IJ Equity 1,460 7.35 20.16 0.86 6.51 2.93 7.10 13.60 32.95 1,498 3% Hold

AKRA IJ Equity 3,770 3.86 (12.12) 1.85 20.94 11.55 4.57 11.23 42.61 4,647 23% Buy

ANTM IJ Equity 805 2.55 5.23 0.97 24.05 8.42 2.46 4.12 50.26 1,202 49% Buy

INCO IJ Equity 3,110 1.63 (4.60) 1.17 381.74 17.75 0.25 0.29 1.94 4,062 31% Buy

INDY IJ Equity 1,095 1.86 (30.91) 0.45 #N/A N/A 1.00 (1.10) (4.29) 129.53 2,000 83% Buy

ITMG IJ Equity 10,100 (0.98) (50.12) 0.86 4.82 2.65 11.77 17.06 - 13,459 33% Buy

MEDC IJ Equity 740 0.68 8.03 0.74 9.06 1.44 (1.14) (5.07) 202.38 970 31% Buy

PTBA IJ Equity 2,560 4.07 (40.47) 1.66 6.51 4.59 17.59 26.36 5.12 2,725 6% Hold



SECTOR MISC INDUSTRY

ASII IJ Equity 6,700 2.29 (18.54) 1.90 13.25 6.96 5.92 14.87 49.27 7,665 14% Buy

SRIL IJ Equity 250 - (30.17) 0.62 4.17 1.65 6.22 15.93 139.64 Neutral #VALUE! #VALUE!



SECTOR PROPERTY

BSDE IJ Equity 1,225 0.41 (2.39) 0.81 7.74 8.26 5.69 11.03 46.06 1,722 41% Buy

CTRA IJ Equity 990 (0.50) (1.98) 1.25 18.16 7.75 2.94 7.16 50.80 1,359 37% Buy

PTPP IJ Equity 1,460 3.18 (19.11) 0.70 7.74 3.28 2.27 9.37 74.03 2,332 60% Buy

PWON IJ Equity 560 (0.88) (9.68) 1.87 9.26 7.63 11.59 22.21 36.44 734 31% Buy

WIKA IJ Equity 1,900 5.56 14.80 1.08 7.66 4.05 3.72 15.29 78.93 2,751 45% Buy

WSKT IJ Equity 1,290 2.79 (23.21) 0.96 12.63 3.47 1.04 7.79 224.10 2,081 61% Buy



Source: Bloomber LP





SECTOR TRADE

ERAA IJ Equity 1,490 4.93 (32.27) 1.01 13.37 5.03 3.42 8.28 88.81 1,922 29% Buy

LPPF IJ Equity 3,740 2.47 (33.21) 5.85 13.46 6.79 16.19 37.82 - 3,877 4% Hold

MNCN IJ Equity 1,390 1.46 101.45 1.56 7.80 4.73 13.22 21.24 42.22 1,632 17% Buy

SCMA IJ Equity 1,250 2.88 (33.16) 3.53 14.96 10.17 19.59 26.60 0.33 1,507 21% Buy

UNTR IJ Equity 20,800 0.48 (23.95) 1.39 7.26 3.03 9.42 19.84 17.95 25,385 22% Buy



Last Price Change (%) Chg. Ytd (%) PBV (x) PE (x) LDR (%) NPL NIM (%) DER (x) Fair Value Up-Side Recommendation

SECTOR FINANCE

BBCA IJ Equity 31,700 (0.39) 21.92 4.66 27.65 88.15 1.40 6.51 6.30 32,508 3% Hold

BBRI IJ Equity 4,220 2.18 15.30 2.62 15.33 90.10 2.27 7.24 64.57 4,686 11% Buy

BBNI IJ Equity 7,450 0.34 (15.34) 1.17 8.93 92.85 1.90 5.20 82.33 8,960 20% Buy

BBTN IJ Equity 2,220 0.91 (12.60) 0.97 17.16 103.45 2.82 3.54 188.00 2,192 -1% Sell

BMRI IJ Equity 7,175 1.41 (2.71) 1.70 12.32 100.47 2.75 5.38 56.75 8,570 19% Buy

BTPS IJ Equity 3,920 0.51 118.38 7.56 30.15 454.49 1.39 38.72 149.94 3,978 1% Hold



Source: Bloomber LP



TECHNICAL ANALYSIS (LQ 45)

Ticker Last YtD% MA5 RSI Rec MACD Trend

Bollinger Band

Pivot Point

Support Resistance Stop Loss

Level Recommendation

Lower Middle Upper 1 2 1 2

ADRO IJ Equity 1,460 20.2 Negatif Trading Positif 1,230 1,330 1,430 1,415 1,365 1,320 1,460 1,510 1,300 Hold

AKRA IJ Equity 3,770 (12.1) Negatif Trading Positif 3,215 3,590 3,960 3,705 3,625 3,555 3,775 3,855 3,500 Hold

ANTM IJ Equity 805 5.2 Negatif Oversold Positif 755 810 860 800 780 770 810 830 755 Speculative Buy

ASII IJ Equity 6,700 (18.5) Negatif Trading Negatif 6,375 6,575 6,800 6,650 6,575 6,500 6,725 6,800 6,400 Sell

BBCA IJ Equity 31,700 21.9 Negatif Trading Positif 31,100 31,525 31,950 31,775 31,625 31,500 31,900 32,050 31,025 Hold

BBNI IJ Equity 7,450 (15.3) Negatif Trading Negatif 7,300 7,525 7,725 7,475 7,400 7,375 7,500 7,575 7,250 Sell

BBRI IJ Equity 4,220 15.3 Negatif Trading Positif 3,920 4,100 4,285 4,205 4,180 4,145 4,240 4,265 4,085 Hold

BBTN IJ Equity 2,220 (12.6) Negatif OverBought Positif 1,765 2,030 2,290 2,215 2,195 2,185 2,225 2,245 2,150 Sell

BMRI IJ Equity 7,175 (2.7) Negatif Trading Positif 6,800 7,025 7,225 7,150 7,075 7,025 7,200 7,275 6,900 Hold

BRPT IJ Equity 1,375 187.7 Negatif OverBought Positif 890 1,185 1,485 1,365 1,355 1,315 1,405 1,415 1,295 Sell

BSDE IJ Equity 1,225 (2.4) Positif Oversold Negatif 1,225 1,340 1,455 1,225 1,210 1,195 1,240 1,255 1,180 Speculative Buy

BTPS IJ Equity 3,920 118.4 Negatif Trading Negatif 3,775 3,900 4,025 3,910 3,870 3,830 3,950 3,990 3,775 Sell

CPIN IJ Equity 6,900 (4.5) Negatif Trading Negatif 6,450 6,975 7,525 7,000 6,900 6,800 7,100 7,200 6,700 Sell

CTRA IJ Equity 990 (2.0) Negatif Oversold Negatif 975 1,045 1,110 995 980 970 1,005 1,020 955 Speculative Buy

ERAA IJ Equity 1,490 (32.3) Negatif Oversold Negatif 1,355 1,525 1,690 1,465 1,425 1,395 1,495 1,535 1,370 Speculative Buy

EXCL IJ Equity 3,350 69.2 Negatif Trading Negatif 3,280 3,445 3,610 3,355 3,310 3,255 3,410 3,455 3,205 Sell

GGRM IJ Equity 52,900 (36.7) Negatif Trading Positif 49,775 52,675 55,550 53,150 52,550 51,725 53,975 54,575 50,925 Hold

HMSP IJ Equity 2,010 (45.8) Negatif Trading Positif 1,905 2,030 2,155 2,045 1,990 1,945 2,090 2,145 1,915 Hold

ICBP IJ Equity 11,250 7.7 Positif Oversold Negatif 11,050 11,350 11,650 11,250 11,175 11,075 11,350 11,425 10,900 Speculative Buy

INCO IJ Equity 3,110 (4.6) Negatif Oversold Negatif 2,935 3,280 3,625 3,100 3,035 3,000 3,135 3,200 2,955 Speculative Buy

INDF IJ Equity 7,875 5.7 Negatif Trading Negatif 7,725 7,900 8,075 7,875 7,825 7,775 7,925 7,975 7,675 Sell

INDY IJ Equity 1,095 (30.9) Positif Oversold Negatif 1,070 1,240 1,410 1,090 1,070 1,055 1,105 1,125 1,040 Speculative Buy

INKP IJ Equity 7,650 (33.8) Negatif Trading Negatif 6,700 7,650 8,600 7,575 7,475 7,325 7,725 7,825 7,225 Sell

source: Bloomberg Lp



TECHNICAL NALYSIS (LQ 45)

Ticker Last YtD% MA5 RSI Rec MACD Trend

Bollinger Band

Pivot Point

Support Resistance Stop Loss

Level Recommendation

Lower Middle Upper 1 2 1 2

INTP IJ Equity 20,550 11.4 Negatif Trading Positif 19,225 20,025 20,825 20,500 20,375 20,125 20,750 20,875 19,825 Hold

ITMG IJ Equity 10,100 (50.1) Positif Oversold Negatif 9,850 11,700 13,525 10,225 10,050 9,925 10,350 10,525 9,775 Speculative Buy

JPFA IJ Equity 1,585 (26.3) Positif Trading Negatif 1,570 1,660 1,750 1,600 1,565 1,545 1,620 1,655 1,520 Hold

JSMR IJ Equity 5,200 21.5 Negatif Trading Positif 4,720 5,050 5,350 5,225 5,200 5,125 5,300 5,325 5,050 Hold

KLBF IJ Equity 1,565 3.0 Negatif Trading Positif 1,475 1,535 1,595 1,560 1,555 1,545 1,570 1,575 1,520 Hold

LPPF IJ Equity 3,740 (33.2) Negatif Trading Positif 3,465 3,590 3,715 3,720 3,675 3,630 3,765 3,810 3,575 Hold

MEDC IJ Equity 740 8.0 Negatif OverBought Positif 600 670 740 750 735 730 755 770 715 Sell

MNCN IJ Equity 1,390 101.4 Negatif Trading Negatif 1,255 1,390 1,525 1,385 1,370 1,360 1,395 1,410 1,340 Sell

PGAS IJ Equity 2,200 3.8 Negatif Trading Positif 1,880 1,980 2,075 2,160 2,110 2,060 2,210 2,260 2,030 Hold

PTBA IJ Equity 2,560 (40.5) Negatif Trading Negatif 2,360 2,505 2,645 2,525 2,470 2,415 2,580 2,635 2,380 Sell

PTPP IJ Equity 1,460 (19.1) Negatif Oversold Negatif 1,355 1,510 1,665 1,450 1,420 1,395 1,475 1,505 1,375 Speculative Buy

PWON IJ Equity 560 (9.7) Negatif Trading Positif 550 575 600 565 560 555 570 575 545 Hold

SCMA IJ Equity 1,250 (33.2) Negatif Trading Negatif 1,155 1,255 1,355 1,235 1,205 1,175 1,265 1,295 1,155 Sell

SMGR IJ Equity 12,425 8.0 Negatif Oversold Negatif 11,375 12,250 13,125 12,100 11,725 11,375 12,450 12,825 11,200 Speculative Buy

SRIL IJ Equity 250 (30.2) Positif Oversold Positif 235 260 285 251 249 247 253 255 243 Buy

TKIM IJ Equity 11,250 1.4 Negatif Trading Negatif 9,300 11,250 13,175 11,125 10,875 10,600 11,400 11,650 10,425 Sell

TLKM IJ Equity 4,060 9.8 Negatif Trading Positif 3,820 4,010 4,200 4,030 3,980 3,940 4,070 4,120 3,880 Hold

TPIA IJ Equity 9,700 63.7 Negatif Trading Positif 8,900 9,350 9,825 9,650 9,575 9,500 9,725 9,800 9,350 Hold

UNTR IJ Equity 20,800 (23.9) Negatif Trading Negatif 20,425 22,150 23,875 20,925 20,575 20,325 21,175 21,525 20,025 Sell

UNVR IJ Equity 42,150 (7.2) Negatif Trading Positif 41,150 42,375 43,625 42,175 41,825 41,675 42,325 42,675 41,050 Hold

WIKA IJ Equity 1,900 14.8 Negatif Oversold Negatif 1,750 1,910 2,065 1,855 1,810 1,760 1,905 1,950 1,735 Speculative Buy

WSKT IJ Equity 1,290 (23.2) Positif Oversold Negatif 1,215 1,390 1,565 1,285 1,260 1,245 1,300 1,325 1,225 Speculative Buy

source: Bloomberg Lp



MAJOR ECONOMIC RELEASE CALENDAR

Date Event Country Act Prev Cons

4-Dec-19 China, Caixin Services PMI NOV CNY 53.5 51.1 52.7

China, Caixin Composite PMI NOV CNY 53.1 52.0

GB Markit/CIPS UK Services PMI Final NOV GBR 49.3 50.0

GB Markit/CIPS Composite PMI Final NOV GBR 49.3 50.0

US ADP Employment Change NOV USD 67K 125K 140

US Markit Composite PMI Final NOV USD 52.0 50.9 51.9

US Markit Services PMI Final NOV USD 51.6 50.6 51.6

US EIA Gasoline Stocks Change 29/NOV USD 3.385M 5.132M

US EIA Crude Oil Stocks Change 29/NOV USD -4.856M 1.572M

5-Dec-19 Japan, Stock Investment by Foreigners NOV/30 JPY ¥394B ¥131.7B

Japan, Foreign Bond Investment NOV/30 JPY ¥-511.1B ¥-155.2B

Indonesia, Consumer Confidence NOV IDN 124.2 118.4

US Challenger Job Cuts NOV USD 44.589K 50.275K

US Balance of Trade OCT USD $-47.1B $-52.5B $-49B

US Continuing Jobless Claims NOV/23 USD 1693K 1640K

US Initial Jobless Claims NOV/30 USD 203K 213K

US Exports OCT USD $207B $206B

US Imports OCT USD $254B $258.4B

US EIA Natural Gas Stocks Change 29/NOV USD -19Bcf -28Bcf

6-Dec-19 Japan, Foreign Exchange Reserves NOV JPY $1324.5B

Japan, Leading Economic Index Prel OCT JPY 91.9 92

Japan, Coincident Index Prel OCT JPY 101.1 101.5

Indonesia, Foreign Exchange Reserves NOV IDN $126.7B

China, Foreign Exchange Reserves NOV CNY $3.105T $3.103T

US Non Farm Payrolls NOV USD 128K 180K

US Unemployment Rate NOV USD 3.6% 3.6%

US Average Hourly Earnings MoM NOV USD 0.2% 0.3%

US Participation Rate NOV USD 63.3% 63.3%

US Government Payrolls NOV USD -3K

US Manufacturing Payrolls NOV USD -36K 36K

US Average Hourly Earnings YoY NOV USD 3% 3%

US Average Weekly Hours NOV USD 34.4 34.4

US Nonfarm Payrolls Private NOV USD 131K 175K

US Wholesale Inventories MoM OCT USD -0.4% 0.2%

Source: Bloomberg Lp

https://tradingeconomics.com/china/services-pmi

https://tradingeconomics.com/united-states/adp-employment-change

https://tradingeconomics.com/united-states/composite-pmi

https://tradingeconomics.com/united-states/services-pmi

https://tradingeconomics.com/united-states/balance-of-trade

https://tradingeconomics.com/japan/leading-economic-index

https://tradingeconomics.com/japan/coincident-index

https://tradingeconomics.com/china/foreign-exchange-reserves

https://tradingeconomics.com/united-states/non-farm-payrolls

https://tradingeconomics.com/united-states/unemployment-rate

https://tradingeconomics.com/united-states/average-hourly-earnings

https://tradingeconomics.com/united-states/labor-force-participation-rate

https://tradingeconomics.com/united-states/manufacturing-payrolls

https://tradingeconomics.com/united-states/average-weekly-hours

https://tradingeconomics.com/united-states/nonfarm-payrolls-private

https://tradingeconomics.com/united-states/wholesale-inventories



CORPORATE ACTION

RUPS

Date Time Company Event Place

3-Dec-19 10:00 IGAR RUPSLB Gedung Pasadenia

5-Dec-19 9:00 KONI RUPSLB Hotel Lumire Lt 2

6-Dec-19 9:00 NZIA RUPSLB Go Work Cipete Lt 5

9-Dec-19 8:30 SILO RUPSLB Aryaduta Hotel Village Lippo

10:00 BBLD RUPSLB Gedung World Trade Centre Lt 18

14:00 BMRI RUPSLB Jakarta

14:00 CANI RUPSLB Seminar BEI

12-Dec-19 10:00 ATIC RUPSLB Jakarta 14:00 KPAL RUPSLB 14:00 MRAT RUPSLB Gd Graha Mustika Ratu Lt PH

13-Dec-19 10:00 BKDP RUPSLB Kantor Perseroan 10:00 CPRO RUPSLB TBD

10:00 SSTM RUPSLB Kantor Perseroan

14:00 MARI RUPSLB 15:30 ABBA RUPSLB Dividend

Code Status Cum- Date Ex-Date Recording Date Pay -Date Ammount (IDR)/Share

BRAM Cash Dividen 29-Nov-19 2-Dec-19 3-Dec-19 19-Dec-19 200

UNVR Cash Dividen 2-Dec-19 3-Dec-19 4-Dec-19 18-Dec-19 430 BATA Cash Dividen 2-Dec-19 3-Dec-19 4-Dec-19 23-Dec-19 3,2 DMAS Cash Dividen 3-Dec-19 4-Dec-19 5-Dec-19 18-Dec-19 21 IPCM Cash Dividen 3-Dec-19 4-Dec-19 5-Dec-19 23-Dec-19 3

IPO Company Underwriter Offering Date Listing Date IPO Price Shares (Mn)

Asia Sejahtera Mina Tbk Profindo Sekuritas 28 - 29 Nov 2019 2-Dec-19 110 250

Ifishdeco Tbk UOB Kay Hian Sekuritas 27 - 29 Nov 2019 5-Dec-19 440 425

Galva Technologies Tbk Buana Capital Sekuritas 18 - 19 Des 2019 26-Dec-19 TBA 300

Right Issue

Code OS NS Price (IDR) Cum Date Ex Date Trading Period

TRIS 1 : 2 276 26-Nov-19 27-Nov-19 02 - 06 Desember 2019

DNAR 5 : 2 197 27-Nov-19 28-Nov-19 03 - 09 Desember 2019

TNCA 2 : 3 344 8-Jan-20 9-Jan-20 14 - 20 Januari 2020

Source: KSEI and OSO Research Team



Disclaimer This report has been prepared by PT OSO Sekuritas Indonesia on behalf of itself and its affiliated companies and is provided for information purposes only. Under no circumstance.is it to be used or considered as an offer to sell, or a solicitation of any offer to buy. This report has been produced independently and the forecasts, opinions and expectations contained herein are entirely those of PT. OSO Sekuritas Indonesia. We expressly disclaim any responsibility or liability (express or implied) of PT. OSO Sekuritas Indonesia, its affiliated companies and their respective employees and agents whatsoever and howsoever arising (including, without limitation for any claims, proceedings, action , suits, losses, expenses, damages or costs) which may be brought against or suffered by any person as a results of acting in reliance upon the whole or any part of the contents of this report and neither PT. OSO Sekuritas Indonesia, its affiliated companiesor their respective employees or agents accepts liability for any errors, omissions or mis-statements, negligent or otherwise, in the report and any liability in respect of the report or any inaccuracy therein or omission there from which might otherwise arise is hereby expresses disclaimed. The information contained in this report is not be taken as any recommendation made by PT. OSO Sekuritas Indonesia or any other person to enter into any agreement with regard to any investment mentioned in this document. This report is prepared for general circulation. It does not have regards tothe specific person who may receive this report. In considering any investments you should make your own independent assessment and seek your own professional financial and legal advice.

Research Team Ike Widiawati Head of Research +62 21 2991 5300 ([email protected])

Rifqiyati Research Analyst +62 21 2991 5300 (Rifqiyati @oso-securities.com)

Sukarno Alatas Research Analyst +62 21 2991 5300 ([email protected])

Mochammad Cahyo Research Analyst +62 21 2991 5300 ([email protected])

Michelle Abadi Research Associate +62 21 2991 5300 ([email protected])

Disclosure Of Interests

As of the date of this report, 1. The research analysts primarily responsible for the preparation of all or part of this report hereby certify that:

the views expressed in this research report accurately reflect the personal views of each such analyst about the subject securities

and issuers; and

no part of the analyst’s compensation was, is, or will be directly or indirectly, related to the specific recommendations or views

expressed in this research report.

2. The research analysts primarily responsible for the preparation of all or part of this report, or his/her associate(s), do not have any interest (including any direct or indirect ownership of securities, arrangement for financial accommodation or serving as an officer) in any company mentioned in this report

3. PT OSO Securities Indonesia on a business in Indonesia in investment banking, proprietary trading or agency broking in relation

to securities

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