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OSODaily 13 September 2019
ODAY TOP STOCK TRADED (LQ45) JAKARTA COMPOSITE INDEX
6,342.17 (39.78)
-0.62%
Previous 6,381.95 Lowest
6,337.52 Highest 6,414.48 Val IDR bn
8.826
Volbn 13.992 Mkt Cap IDRtr
7,276.93 Net Forg 1DIDRbn (494.15) Net ForgYTDIDRbn
55,939.11
Return YTD (%) 2.38 Month to date (%)
0.22
Indices
Last Chg% 6,306.74 Americas
Dow Jones United States 27,182.45 0.17 16.53 S&P 500 United States 3,009.57 0.29 20.05 Nasdaq United States 8,194.47 0.30 23.50 EIDO United States 25.89 0.19 4.31 EMEA
FTSE 100 United Kingdom 7,344.67 0.09 9.16
CAC 40 France 5,642.86 0.44 19.28 D DAX Germany 12,410.25 0.41 17.53
Asia Pacific
Nikkei Japanese 21,759.61 0.84 9.64 Shanghai China 3,008.81 0.75 21.55 TWSE Taiwan 10,790.35 0.34 11.31 KOSPI Korea 2,032.08 0.84 0.40 KLSE Malaysia 1,602.30 (0.08) (5.30) ST – Times Singapore 3,204.52 (0.30) 4.11 Sensex India 37,270.82 (0.45) 2.87 Hangseng Hongkong 27,159.06 (0.26) 4.81
Sectoral Previous 21,318.42 0.36 6.90 AGRICULTURE 1,359.49 1,352.81 (0.49) (13.53) MINING 1,724.63 1,705.84 (1.09) (3.98) MISC INDUSTRY 1,222.80 1,198.04 (2.03) (14.08) BASIC INDUSTRY 914.27 905.84 (0.92) 5.98 CONSUMER GOODS 2,377.80 2,369.05 (0.37) (7.79) PROPERTY 499.43 500.02 0.12 11.67 INFRASTRUKTUR 1,211.24 1,194.65 (1.37) 12.25 FINANCE 1,268.69 1,264.95 (0.29) 7.59 MANUFAKTURE 1,545.91 1,533.85 (0.78) (5.21) TRADE 819.26 814.78 (0.55) 3.94 LQ 45 1,002.55 992.62 (0.99) 1.01
Commodities Previous Lastest Chg% YTD%
Oil (USD/bbl) 55.75 55.09 (1.18) 21.18 Gold (USD tr.oz) 1,497.25 1,499.27 0.13 16.71 Nickel (USD/mtrc ton) 17,850.00 17,990.00 0.78 68.29 Tin (USD/mtrc ton) 17,775.00 17,125.00 (3.66) (12.07) Copper (USD/mtrc ton) 5,772.50 5,833.00 1.05 (2.21) CPO (MYR/ton) 2,114.00 2,105.00 (0.43) 5.04 Coal (USD/ton) 67.65 68.15 0.74 (33.51)
Currencies
Last Chg% YTD% IDR / USD
13,994.00 0.42 2.83
IDR / AUD
9,628.74 0.09 5.58 IDR / EUR
15,430.10 0.54 6.59
IDR /SGD
10,175.59 0.07 3.73 IDR / JPY
129.74 0.96 0.69
IDR / GBP
17,242.93 0.45 6.24 Global Macro Economics CB Rate CPI YoY GDP YoY United States 2.25 1.80 2.30 Euro Area 0.00 1.00 1.20 United Kingdom 0.75 2.10 1.20 Japan 0.10 0.50 1.00 China 4.35 2.80 6.20 Domestic macro Economics Lastest Chg% YTD% Jibor 5.00 (15.02) 28.20 GovBonds (5y) 6.70 (0.25) (15.29) GovBonds (10y) 7.26 (0.32) (9.56)
Inflasi YoY 3.49
Inflasi MoM 0.12 Bi rate 5.50 GDP Growth YoY (%) 5.05
Foreign Reserve (Bn) 126.40 Government Bonds Yield% Wow% Ytd% 7 Year 7.17 7.17 7.17 15 Year 7.70 7.70 7.70 20 Year 7.82 7.82 7.82 30 Year 8.03 8.03 8.03
Source: Bloomberg LP & OSO Research Team
Market Review Pada perdagangan kemarin (12/09) IHSG ditutup melemah sebesar 0.62% ke level 6.342.17. Sembilan dari sepuluh indeks sektoral berakhir dalam zona merah, dimana sektor aneka industri dan infrastruktur memimpin pelemahan masing-masing sebesar 2.06% dan 1.37%. Adapun saham yang menjadi pemberat indeks diantaranya ; BBCA, TLKM, ASII, UNVR, BRPT. Pelaku pasar asing membukukan aksi jual bersih (Netsell) senilai Rp 494 miliar. Nilai tukar rupiah terapresiasi sebesar 0.42% ke level 13.994. Global Review Pada perdagangan Kamis (12/09) bursa saham Wall Street kompak ditutup dalam zona hijau, dimana Dow Jones, S&P 500 dan Nasdaq menguat masing-masing sebesar 0.17%, 0.29% dan 0.30% penguatan tersebut seiring dengan langkah positif presiden Amerika Serikat (AS) Donald Trump mengumumkan penundaan tarif impor barang China selama 14 hari kedepan, langkah tersebut diambil setelah kemarin China mengecualikan tarif impor terhadap sejumlah barang AS dan berjanji akan membeli lebih banyak lagi produk pertanian AS. Sementara sentimen positif lain juga datang dari European Central Bank yang resmi menurunkan suku bunga acuan sebesar 10 basis poin menjadi -0.50%. JCI Prediction IHSG ditutup melemah sebesar 0.62% ke level 6.342. IHSG ditutup bearish candle. Adapun indikator Stochastic dead cross dan MACD histogram bergerak turun dengan Volume turun. Kami perkirakan IHSG kembali bergerak melemah dengan pergerakan di kisaran 6281-6353. Major Economic Release
PPI Japan pada Agustus 2019 tercatat turun
sebesar 0.9% lebih tinggi dibandingkan
penurunan sebelumnya sebesar 0.6% (YoY).
Inflation Rate United States pada Agustus 2019
tercatat sebesar 1.7% lebih rendah
dibandingkan sebelumnya sebesar 1.8% (YoY).
Initial Jobless Claims periode 07 September
turun menjadi sebesar 204 ribu dari
sebelumnya sebesar 219 ribu.
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TODAY TOP STOCK TRADED (LQ45)
Top Gainers
Last Chg% YTD% MC (T) Beta
SMGR IJ Equity
12,475 2.46 8.48 74.00 1.54
EXCL IJ Equity
3,350 2.45 69.19 35.80 1.17
HMSP IJ Equity
2,820 1.44 (23.99) 328.02 1.20
BBTN IJ Equity
2,210 1.38 (12.99) 23.40 2.16
BSDE IJ Equity
1,370 1.11 9.16 26.37 1.64
Top Losers
Last Chg% YTD% MC (T) Beta
ITMG IJ Equity
14,075 (3.76) (30.49) 15.90 1.34
BTPS IJ Equity
3,060 (3.47) 70.47 23.57 0.52
CPIN IJ Equity
5,200 (3.26) (28.03) 85.27 1.56
BRPT IJ Equity
1,050 (3.23) 119.67 93.46 1.36
TKIM IJ Equity
10,200 (2.86) (8.11) 31.75 2.36
Top Volume
Last Volume (Mn) YTD% MC (T) Beta
ERAA IJ Equity
1,800 119.2 (18.2) 5.74 0.88
BBRI IJ Equity
4,280 87.1 16.9 527.92 1.64
BRPT IJ Equity
1,050 83.2 119.7 93.46 1.36
HMSP IJ Equity
2,820 81.9 (24.0) 328.02 1.20
TLKM IJ Equity
4,170 70.4 12.8 413.09 0.79
Top Value
Last Value (Bn) YTD% MC (T) Beta
BBRI IJ Equity
4,280 489.2 16.9 527.92 1.64
TLKM IJ Equity
4,170 376.2 12.8 413.09 0.79
BMRI IJ Equity
7,150 288.8 (3.1) 333.67 1.55
BBCA IJ Equity
30,100 272.4 15.8 742.12 1.02
BBNI IJ Equity
7,875 233.0 (10.5) 146.86 1.62
BENCHMARK INDICES COMPARISON Indices Country Latest P/E PBV Target 2019F Asia Pacific
IHSG
Indonesia 6,342 20.10 2.10 6,800
Nikkei
Japanese 21,760 15.44 1.65 23,995
Shanghai
China 3,031 14.69 1.52 3,317
TWSE
Taiwan 10,828 17.15 1.65 11,416
KOSPI
Korea 2,049 13.22 0.81 2,555
KLSE
Malaysia 1,601 19.40 1.62 1,689
ST - Times
Singapore 3,195 12.56 1.07 3,572
Sensex
India 37,098 25.78 2.79 42,698
Hangseng
Hongkong 27,088 10.50 1.20 32,129
JAKARTA COMPOSITE INDEX MOVERS
Movers
Latest Chg% YTD% MC (T) Beta
HMSP IJ Equity
2820 1.44 (23.99) 328 1.21
BBRI IJ Equity
4280 0.71 16.94 528 1.64
POLL IJ Equity
4470 7.97 155.43 37 0.32
SMGR IJ Equity
12475 2.46 8.48 74 1.53
BNGA IJ Equity
1045 3.98 14.21 26 1.21
Laggard
Latest Chg% YTD% MC (T) Beta
BBCA IJ Equity
30100 (1.31) 15.77 742 1.02
TLKM IJ Equity
4170 (1.88) 12.77 413 0.79
ASII IJ Equity
6750 (2.53) (17.93) 273 1.28
UNVR IJ Equity
46075 (1.18) 1.49 352 1.07
BRPT IJ Equity
1050 (3.23) 119.67 93 1.35
Movers
Latest Chg% YTD% MC (T) Beta
OSO MANAJEMEN INVESTASI
Mutual Fund Latest 1 Month (%) YTD% Oso Sustainability Fund
1,448.09 (0.75) (4.06)
Oso Syariah Equity Fund
1,181.12 (13.29) 141.99
Source: Bloomberg LP & OSO Research Team
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COMPARATION OF JCI PERFORMANCE (SEAG)
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MACRO ECONOMIC & INDUSTRY NEWS
Sesuai proyeksi, Bank Sentral Eropa (ECB) akhirnya memangkas suku bunga deposito sebesar 10 basis poin menjadi
-0,5%. Ini merupakan rekor suku bunga deposito terendah.Selain itu, ECB akan kembali melakukan pembelian
obligasi sebesar 20 miliar euro per bulan mulai November nanti.
Pemerintah memberikan fasilitas pengurangan pajak penghasilan (PPh) super atau superdeduction tax bagi wajib
pajak (WP) badan yang melakukan kegiatan vokasi. Namun untuk memastikan efektivitasnya, pemerintah juga
menetapkan ketentuan evaluasi dari kegiatan praktik kerja, pemagangan, dan pembelajaran yang diselenggarakan
oleh perusahaan. Jika dinilai tak efektif, pemerintah tak segan mencabut insentif tersebut untuk tahun-tahun
berikutnya.
Pemerintah dan Badan Anggaran (Banggar) DPR RI memutuskan mengurangi alokasi anggaran bantuan pendanaan
dalam rangka penyetaraan penghasilan tetap (Siltap) untuk perangkat desa. Dalam RAPBN 2020, anggaran yang
diusulkan untuk bantuan penyetaraan Siltap perangkat desa awalnya sebesar Rp 3,7 triliun. Namun, anggaran
tersebut dipangkas Rp 2,58 triliun menjadi hanya tinggal Rp 1,12 triliun untuk tahun depan.
CORPORATES NEWS PT XL Axiata Tbk (EXCL) telah mencapai 90% purchase order pembangunan base transceiver station (BTS)
keseluruhan untuk tahun ini.Hingga akhir tahun, EXCL menargetkan bisa membangun 21.000 BTS baru yang
didominasi oleh BTS 4G.
PT Kimia Farma Tbk (KAEF) berencana melakukan aksi korporasi berupa penerbitan right issue tahun depan.
Tercatat hingga saat ini, 90,03% saham KAEF dimiliki oleh Negara Republik Indonesia, sementara 9,9% lainnya
dimiliki oleh publik. Padahal, Badan Anggaran (Banggar) DPR pada tahun 2020 menyetujui Penyertaan Modal
Negara (PMN) hanya akan disalurkan kepada delapan Badan Usaha Milik Negara (BUMN) saja, di mana KAEF tidak
termasuk di dalamnya. Dengan demikian, kepemilikan saham negara di KAEF memungkinkan terdelusi kurang lebih
22,14%. Dari semula 90,03% menjadi 70,13%.
PT PP Properti Tbk (PPRO) bersiap lakukan penjualan senilai Rp 1,8 triliun pada triwulan IV nanti. Adapun hal
tersebut dari penjualan besar dari proyek di Grand Sungkono Lagoon (GSL) dan Grand Samaya di Surabaya, serta
dari proyek Mazhoji di Depok.
Pendapatan PT Bali Bintang Sejahtera Tbk (BOLA) terdongkrak setelah masuk ke papan atas Liga 1 Indonesia.
Berdasarkan laporan keuangan pada semester I/2019, pendapatan BOLA tumbuh sebesar 40,53% menjadi Rp72,64
miliar dibandingkan dengan periode yang sama pada tahun lalu senilai Rp51,69 miliar.
PT Adhi Karya (Persero) Tbk (ADHI) mencatatkan perolehan kontrak baru senilai Rp6,8 triliun hingga Agustus 2019.
Realisasi kontrak pada bulan kedelapan didominasi oleh proyek pembangunan dermaga di Surabaya senilai
Rp310,9 miliar dan Rumah Sakit Harapan Kita Jakarta senilai Rp265,1 miliar.
PT Bank MNC Internasional Tbk (BABP) akan melaksanakan penambahan modal dengan Hak Memesan Efek
Terlebih Dahulu (HMETD) atau rights issue pada Desember 2019. Perusahaan akan menerbitkan sebanyak-
banyaknya 4.126.506.825 saham dengan harga nominal Rp 50.
Sumber: Kontan, Bisnis Indonesia, Iqplus
NOTE: Positive Sentiment Negative Sentiment Netral
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Technical
Medium/Minor trend : Uptrend MACD line/histogram : Ke Arah Positif Stochastic : Bullish Volume : Meningkat
Recommendation : BUY Entry Buy : 1.030 – 1.045 Target Price : 1.065 – 1.080 Support : 1.025 – 1.030 Cutloss : 1.020
DAILY TECHNICAL
PEFINDO Telah Menegaskan Peringkat “Idaaa” Untuk PT Bank CIMB Niaga Tbk (Bank CIMB Niaga) Dan Registrasi Rak Yang Luar Biasa Obligasi II / 2016. Pada saat yang sama, PEFINDO telah menegaskan peringkat "idAAA (sy)" ke Registrasi Rak Bank Sukuk
Mudharabah I / 2018 dan peringkat "idAA" untuk Obligasi Subordinasi III / 2018 Bank. Prospek untuk peringkat kredit perusahaan adalah “stabil”. Obligor dengan peringkat idAAA memiliki peringkat tertinggi yang diberikan oleh PEFINDO. Kapasitas obligor untuk memenuhi keuangan jangka panjangnya komitmen, relatif dibandingkan dengan obligor Indonesia lainnya, lebih tinggi. Instrumen pembiayaan berbasis syariah dengan peringkat idAAA (sy) memiliki peringkat tertinggi yang diberikan oleh PEFINDO. Kapasitas penerbit untuk memenuhi komitmen keuangan jangka panjangnya berdasarkan pembiayaan syariah kontrak, relatif terhadap emiten Indonesia lainnya, lebih unggul. Keamanan hutang dengan peringkat idAA berbeda dari hutang dengan peringkat tertinggi hanya untuk gelar kecil. Kapasitas obligor untuk memenuhi komitmen keuangan jangka panjangnya pada keamanan utang, relatif terhadap orang Indonesia lainnya obligor, sangat kuat.
Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 1.065. Apabila break 1.065 next harga ke level 1.080. Hati-hati jika harga tidak mampu break up atau menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 1.020 jika sudah melewati support 1.025 – 1.030,
|BNGA|PE : 6.66x | PBV : 0.63x | ROE: 9.52% | NPM : 14.22% | DER : 5.54x | Fair Value : 1.500|
Souce: OSO Research Team
BUY
NOTE:
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Technical
Medium/Minor trend : Uptrend MACD line/histogram : Ke Arah Positif Stochastic : Bullish Volume : Meningkat
Recommendation : BUY Entry Buy : 830 – 840 Target Price : 855 – 865 Support : 820 – 825 Cutloss : 815
DAILY TECHNICAL
BUY |HOKI|PE : 17.50x | PBV : 3.36x | ROE: 18.96% | NPM : 6.56% | DER : 0.39x | Fair Value :950|
Semester Pertama, Laba Bersih HOKI Naik Jadi Rp56,44 Miliar PT Buyung Poetra Sembada Tbk (HOKI ) membukukan kenaikan laba bersih di Semester I -2019 (unaudited) menjadi Rp56,44 miliar dari Rp50,48 miliar pada semester pertama tahun sebelumnya. Berdasarkan keterbukaan informasi HOKI yang dirilis Bursa Efek Indonesia (BEI) di Jakarta, Selasa (30/7), kenaikan laba bersih tersebut ditopang perolehan penjualan bersih di paruh pertama tahun ini yang mencapai Rp859,49 miliar atau meningkat dari raihan pada Semester I-2018 sebesar Rp764,46 miliar. Sementara itu, pada enam bulan pertama tahun ini beban pokok penjualan HOKI tercatat sebesar Rp736,9 miliar atau meningkat dari Rp655,14 miliar.
Souce: OSO Research Team
Harga ditutup bullish candle dan menguji resistance. Harga berpeluang menguji level 855. Apabila break 855 next harga ke level 865. Hati-hati jika harga tidak mampu tembus 855 atau malah berbailk menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 815 jika sudah melewati support 820 – 825.
NOTE:
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Technical
Medium/Minor trend : Uptrend MACD line/histogram : Ke Arah Positif Stochastic : Bullish Volume : Meningkat Signifikan
Recommendation : BUY Entry Buy : 1.195 – 1.205 Target Price : 1.235 – 1.260 Support : 1.175 – 1.180 Cutloss : 1.170
DAILY TECHNICAL
BUY |RALS|PE : 7.26x | PBV : 2.09x | ROE: 28.80% | NPM : 16.90% | DER : 0.52x | Fair Value : 1.400|
Ramayana Genjot Penjualan e-Commerce Menjadi 10% PT Ramayana Insan Lestari Tbk (RALS) menyatakan akan meningkatkan kontribusi penjualan e-commerce menjadi 10% terhadap total penjualan perusahaan dari saat ini masih sekitar 0,5%. Manajemen dalam paparan materi publikasi dikutip Senin (26/8) mengatakan, cara yang tengah ditempuh adalah bekerja sama dengan 3 marketplace terbesar di Indonesia, yakni Shopee, Lazada, dan Tokopedia. Penjualan online memiliki potensi yang sangat besar. Sebagai gambaran, penjualan online di negara maju seperti China dan Amerika mencapai 11-12% dari total bisnis ritel, sedangkan penjualan online di Indonesia baru sekitar 2-3%. Adapun, penjualan online tersebut saat ini masih terbatas di kalangan menengah (B dan B+), dan mayoritas pembelian produk gadget.
Souce: OSO Research Team
Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 1.235. Apabila berhasil menguji 1.235 next harga ke level 1.260. Hati-hati jika harga tidak mampu break up atau berbalik menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 1.170 jika sudah melewati support 1.175 – 1.180.
NOTE:
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Sector Rotation
Mingguan
Bulanan
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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 1,050 (3.23) 119.67 5.63 82.94 7.66 1.13 5.21 98.23 630 -40% Sell
CPIN IJ Equity 5,200 (3.26) (28.03) 4.45 22.17 13.71 13.99 21.19 22.95 4,573 -12% Sell
INKP IJ Equity 7,075 (2.08) (38.74) 0.71 7.02 2.81 4.61 10.66 113.83 11,300 60% Buy
INTP IJ Equity 20,325 (0.25) 10.16 3.43 52.29 28.15 5.47 6.48 0.50 19,764 -3% Sell
JPFA IJ Equity 1,630 (1.21) (24.19) 1.96 10.08 4.62 8.00 20.16 59.63 1,760 8% Hold
SMGR IJ Equity 12,475 2.46 8.48 2.44 28.55 10.49 4.11 8.74 30.13 14,405 15% Buy
TKIM IJ Equity 10,200 (2.86) (8.11) 1.71 11.19 17.03 6.95 16.45 120.71 13,000 27% Buy
TPIA IJ Equity 9,300 - 56.96 6.66 94.04 30.99 4.18 7.14 34.35 4,423 -52% Sell
Industry Average in LQ45 3.37 38.54 14.43 6.06 12.00 60.04
Total of Industry Average 1.79 25.83 10.45 2.27 (23.71) 101.08
SECTOR CONSUMER GOODS
GGRM IJ Equity 68,275 (1.16) (18.36) 2.96 15.42 9.10 12.84 20.01 38.38 91,020 33% Buy
HMSP IJ Equity 2,820 1.44 (23.99) 11.52 23.15 17.50 32.64 50.51 0.33 3,618 28% Buy
ICBP IJ Equity 11,925 (0.21) 14.11 6.10 28.60 17.03 13.48 22.92 9.06 12,128 2% Hold
INDF IJ Equity 7,550 (2.58) 1.34 1.90 13.93 5.45 4.98 14.36 59.18 8,335 10% Buy
KLBF IJ Equity 1,690 0.60 11.18 5.40 31.70 21.05 13.62 17.85 2.34 1,604 -5% Sell
UNVR IJ Equity 46,075 (1.18) 1.49 69.27 37.90 25.66 43.81 183.94 20.26 45,456 -1% Sell
Industry Average in LQ45 16.19 25.12 15.96 20.23 51.60 21.59
Total of Industry Average 6.37 25.99 19.96 9.21 19.82 46.26
SECTOR INFRASTRUCTURE
EXCL IJ Equity 3,350 2.45 69.19 1.92 130.48 3.72 (5.11) (14.59) 125.77 3,923 17% Buy
JSMR IJ Equity 5,400 (2.26) 26.17 2.22 17.68 5.84 2.50 13.33 157.26 6,444 19% Buy
PGAS IJ Equity 1,995 (1.72) (5.90) 1.37 16.23 2.72 3.11 7.41 109.43 2,428 22% Buy
TLKM IJ Equity 4,170 (1.88) 12.77 4.40 20.24 6.31 9.77 22.82 37.58 4,717 13% Buy
Industry Average in LQ45 2.48 46.16 4.65 2.57 7.24 107.51
Total of Industry Average 3.16 41.38 227.54 (4.08) (63.67) 131.60
Source: Bloomber LP
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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 MINING
ADRO IJ Equity 1,435 (2.38) 18.11 0.87 6.32 2.52 7.45 14.21 32.95 1,612 12% Buy
AKRA IJ Equity 4,040 (1.22) (5.83) 1.96 22.34 12.81 4.78 11.01 42.61 4,929 22% Buy
ANTM IJ Equity 1,120 (0.44) 46.41 1.35 33.63 9.83 2.47 4.14 50.26 1,256 12% Buy
INCO IJ Equity 3,850 (0.52) 18.10 1.47 521.28 22.91 0.23 0.27 1.94 4,188 9% Buy
INDY IJ Equity 1,510 (0.33) (4.73) 0.61 34.77 1.17 0.46 1.74 129.53 2,125 41% Buy
ITMG IJ Equity 14,075 (3.76) (30.49) 1.24 4.81 2.66 17.45 25.70 - 18,714 33% Buy
MEDC IJ Equity 760 (0.65) 10.95 0.77 9.06 1.49 (1.14) (5.07) 202.38 1,043 37% Buy
PTBA IJ Equity 2,620 (2.60) (39.07) 1.60 5.86 4.22 19.44 29.25 5.12 3,514 34% Buy
Industry Average in LQ45 1.23 79.76 7.20 6.39 10.16 58.10
Total of Industry Average 2.26 40.09 15.72 3.56 3.59 94.98
SECTOR MISC INDUSTRY
ASII IJ Equity 6,750 (2.53) (17.93) 1.96 12.95 7.02 6.40 15.79 49.27 7,983 18% Buy
SRIL IJ Equity 332 (1.19) (7.26) 0.84 5.25 2.31 6.72 17.23 139.64 Neutral #VALUE! #VALUE!
Industry Average in LQ45 1.40 9.10 4.66 6.56 16.51 94.46
Total of Industry Average 2.28 391.68 6.17 3.04 3.44 94.41
SECTOR PROPERTY
BSDE IJ Equity 1,370 1.11 9.16 0.92 8.75 8.65 5.69 11.01 46.06 1,706 25% Buy
CTRA IJ Equity 1,105 (2.21) 9.41 1.41 15.74 7.70 3.84 9.39 50.80 1,355 23% Buy
PTPP IJ Equity 1,885 - 4.43 0.91 8.45 3.93 2.84 11.34 74.03 2,600 38% Buy
PWON IJ Equity 675 (2.17) 8.87 2.39 11.70 8.66 11.10 22.42 36.44 765 13% Buy
WIKA IJ Equity 2,070 (2.82) 25.08 1.21 8.81 4.52 3.70 14.89 78.93 2,817 36% Buy
WSKT IJ Equity 1,765 (0.56) 5.06 1.33 12.16 4.75 1.58 11.35 224.10 2,276 29% Buy
Industry Average in LQ45 1.36 10.93 6.37 4.79 13.40 85.06
Total of Industry Average 2.74 29.19 13.95 4.60 10.11 47.63
Source: Bloomber LP
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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 TRADE
ERAA IJ Equity 1,800 0.28 (18.18) 1.24 11.19 4.78 4.54 11.78 88.81 1,947 8% Buy
LPPF IJ Equity 3,060 (2.24) (45.36) 4.74 9.53 5.11 15.33 45.23 - 4,783 56% Buy
MNCN IJ Equity 1,300 0.39 88.41 1.53 7.89 4.59 12.35 20.53 42.22 1,568 21% Buy
SCMA IJ Equity 1,315 (1.87) (29.68) 3.87 13.52 9.78 20.52 29.07 0.33 1,835 40% Buy
UNTR IJ Equity 23,050 (1.91) (15.72) 1.57 7.66 3.43 10.84 21.57 17.95 30,275 31% Buy
Industry Average in LQ45 2.59 9.96 5.54 12.72 25.64 29.86
Total of Industry Average 7.32 34.11 17.48 1.06 2.46 65.29
Last Price Change (%) Chg. Ytd (%) PBV (x) PE (x) LDR (%) NPL NIM (%) DER (x) Fair Value Up-Side Recommendation
SECTOR FINANCE
BBCA IJ Equity 30,100 (1.31) 15.77 4.65 27.18 88.15 1.40 6.53 6.30 30,749 2% Hold
BBRI IJ Equity 4,280 0.71 16.94 2.78 15.56 90.10 2.27 7.35 64.57 4,709 10% Buy
BBNI IJ Equity 7,875 (1.56) (10.51) 1.29 9.65 92.85 1.90 5.14 82.33 9,912 26% Buy
BBTN IJ Equity 2,210 1.38 (12.99) 0.95 8.71 103.45 2.82 3.81 188.00 2,665 21% Buy
BMRI IJ Equity 7,150 - (3.05) 1.80 12.65 100.47 2.75 5.36 56.75 9,009 26% Buy
BTPS IJ Equity 3,060 (3.47) 70.47 5.90 23.54 454.49 1.39 38.72 149.94 3,653 19% Buy
Industry Average in LQ45 2.29 14.75 95.00 2.23 5.64 79.59
Total of Industry Average 5.12 33.53 110.09 3.09 7.18 84.38
Source: Bloomber LP
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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 1,435 18.1 Negatif OverBought Positif 890 1,165 1,445 1,455 1,430 1,400 1,485 1,510 1,380 Sell
AKRA IJ Equity 4,040 (5.8) Positif Trading Negatif 3,915 4,115 4,315 4,065 4,030 3,995 4,100 4,135 3,935 Hold
ANTM IJ Equity 1,120 46.4 Negatif OverBought Negatif 1,000 1,085 1,165 1,125 1,110 1,100 1,135 1,150 1,085 Strong Sell
ASII IJ Equity 6,750 (17.9) Negatif Trading Positif 6,275 6,550 6,825 6,825 6,750 6,650 6,925 7,000 6,550 Hold
BBCA IJ Equity 30,100 15.8 Negatif Trading Positif 29,725 30,100 30,450 30,300 30,075 29,825 30,550 30,775 29,375 Hold
BBNI IJ Equity 7,875 (10.5) Negatif Trading Positif 7,325 7,650 8,000 8,000 7,850 7,725 8,125 8,275 7,600 Hold
BBRI IJ Equity 4,280 16.9 Negatif Trading Positif 4,040 4,175 4,310 4,300 4,250 4,220 4,330 4,380 4,155 Hold
BBTN IJ Equity 2,210 (13.0) Negatif Trading Positif 1,950 2,130 2,315 2,220 2,165 2,140 2,245 2,300 2,105 Hold
BMRI IJ Equity 7,150 (3.1) Negatif Trading Positif 6,825 7,150 7,450 7,200 7,100 6,975 7,325 7,425 6,875 Hold
BRPT IJ Equity 1,050 119.7 Negatif OverBought Positif 605 890 1,175 1,060 1,035 990 1,105 1,130 975 Sell
BSDE IJ Equity 1,370 9.2 Positif Trading Positif 1,300 1,350 1,405 1,370 1,350 1,340 1,380 1,400 1,320 Speculative Buy
BTPS IJ Equity 3,060 70.5 Negatif Trading Negatif 2,985 3,185 3,390 3,115 3,035 2,955 3,195 3,275 2,910 Sell
CPIN IJ Equity 5,200 (28.0) Negatif OverBought Positif 4,415 4,815 5,225 5,300 5,200 5,075 5,425 5,525 5,000 Sell
CTRA IJ Equity 1,105 9.4 Negatif Trading Negatif 970 1,135 1,300 1,125 1,100 1,080 1,145 1,170 1,060 Sell
ERAA IJ Equity 1,800 (18.2) Negatif Trading Positif 1,300 1,675 2,045 1,840 1,715 1,650 1,905 2,030 1,625 Hold
EXCL IJ Equity 3,350 69.2 Positif Trading Negatif 3,145 3,360 3,570 3,335 3,255 3,205 3,385 3,465 3,155 Hold
GGRM IJ Equity 68,275 (18.4) Negatif Oversold Negatif 64,450 72,100 79,775 69,800 64,775 61,575 73,000 78,025 60,650 Speculative Buy
HMSP IJ Equity 2,820 (24.0) Negatif Trading Positif 2,560 2,815 3,065 2,825 2,745 2,695 2,875 2,955 2,650 Hold
ICBP IJ Equity 11,925 14.1 Positif OverBought Negatif 11,525 11,850 12,175 11,950 11,875 11,775 12,050 12,125 11,600 Sell
INCO IJ Equity 3,850 18.1 Negatif OverBought Positif 3,075 3,555 4,035 3,855 3,790 3,735 3,910 3,975 3,680 Sell
INDF IJ Equity 7,550 1.3 Positif Trading Negatif 7,525 7,825 8,100 7,650 7,550 7,450 7,750 7,850 7,350 Hold
INDY IJ Equity 1,510 (4.7) Negatif OverBought Positif 1,265 1,390 1,510 1,520 1,505 1,480 1,545 1,560 1,460 Sell
INKP IJ Equity 7,075 (38.7) Negatif Trading Positif 6,375 7,050 7,750 7,200 7,050 6,950 7,300 7,450 6,825 Hold
source: Bloomberg Lp
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OSODaily 13 September 2019
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
INTP IJ Equity 20,325 10.2 Positif Oversold Negatif 20,400 21,525 22,675 20,350 20,075 19,625 20,800 21,075 19,325 Speculative Buy
ITMG IJ Equity 14,075 (30.5) Negatif Trading Positif 11,225 13,075 14,950 14,400 14,000 13,675 14,725 15,125 13,475 Hold
JPFA IJ Equity 1,630 (24.2) Negatif OverBought Positif 1,485 1,570 1,655 1,640 1,620 1,590 1,670 1,690 1,565 Sell
JSMR IJ Equity 5,400 26.2 Negatif Trading Positif 5,225 5,550 5,875 5,475 5,400 5,300 5,575 5,650 5,225 Hold
KLBF IJ Equity 1,690 11.2 Negatif OverBought Negatif 1,515 1,630 1,745 1,675 1,660 1,625 1,710 1,725 1,600 Strong Sell
LPPF IJ Equity 3,060 (45.4) Negatif Trading Positif 2,895 3,075 3,250 3,115 3,030 2,955 3,190 3,275 2,910 Hold
MEDC IJ Equity 760 10.9 Negatif Trading Positif 715 755 790 765 750 740 775 790 730 Hold
MNCN IJ Equity 1,300 88.4 Negatif Trading Positif 1,220 1,275 1,330 1,300 1,285 1,270 1,315 1,330 1,250 Hold
PGAS IJ Equity 1,995 (5.9) Negatif Trading Positif 1,830 1,945 2,065 2,025 1,980 1,945 2,060 2,105 1,915 Hold
PTBA IJ Equity 2,620 (39.1) Negatif OverBought Positif 2,290 2,480 2,670 2,665 2,610 2,565 2,710 2,765 2,525 Sell
PTPP IJ Equity 1,885 4.4 Negatif Trading Positif 1,725 1,860 1,995 1,900 1,875 1,855 1,920 1,945 1,825 Hold
PWON IJ Equity 675 8.9 Negatif Trading Positif 600 655 705 685 670 660 695 710 650 Hold
SCMA IJ Equity 1,315 (29.7) Negatif Trading Positif 1,130 1,220 1,310 1,335 1,300 1,265 1,370 1,405 1,245 Hold
SMGR IJ Equity 12,475 8.5 Positif Oversold Negatif 12,525 13,075 13,650 12,350 12,175 11,875 12,650 12,825 11,675 Speculative Buy
SRIL IJ Equity 332 (7.3) Negatif Trading Positif 331 336 342 334 330 326 338 342 321 Hold
TKIM IJ Equity 10,200 (8.1) Negatif Trading Positif 9,125 10,000 10,875 10,450 10,200 9,950 10,700 10,950 9,800 Hold
TLKM IJ Equity 4,170 12.8 Positif Trading Negatif 4,205 4,345 4,485 4,195 4,160 4,125 4,230 4,265 4,065 Hold
TPIA IJ Equity 9,300 57.0 Negatif Strong Sell Negatif 7,650 8,600 9,550 9,275 9,200 9,075 9,400 9,475 8,950 Strong Sell
UNTR IJ Equity 23,050 (15.7) Negatif OverBought Positif 19,000 21,000 23,025 23,350 22,900 22,500 23,750 24,200 22,150 Sell
UNVR IJ Equity 46,075 1.5 Positif Trading Negatif 44,000 46,650 49,300 46,425 45,975 45,425 46,975 47,425 44,750 Hold
WIKA IJ Equity 2,070 25.1 Negatif Trading Negatif 1,920 2,190 2,460 2,115 2,065 2,025 2,155 2,205 1,990 Sell
WSKT IJ Equity 1,765 5.1 Negatif Trading Positif 1,660 1,760 1,865 1,775 1,755 1,735 1,795 1,815 1,710 Hold
source: Bloomberg Lp
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MAJOR ECONOMIC RELEASE CALENDAR
Date Event Country Act Prev Cons
12-Sep-19 Japan, PPI MoM AUG JPY -0.3% 0% -0.6%
Japan, PPI YoY AUG JPY -0.9% -0.6% -1.3%
Japan, Foreign Bond Investment SEP/07 JPY ¥724.4B ¥1495.7B
Japan, Stock Investment by Foreigners SEP/07 JPY ¥-161.3B ¥-89.5B US Inflation Rate YoY AUG USD 1.7%
1.8% 1.8%
US Inflation Rate MoM AUG USD 0.1% 0.3% 0.1%
US Initial Jobless Claims SEP/07 USD 204K 219K
US Continuing Jobless Claims AUG/31 USD 1670K 1674K
US EIA Natural Gas Stocks Change 06/SEP USD 78Bcf 84Bcf US Monthly Budget Statement AUG USD $-200B $-120B 13-Sep-19 Japan, Industrial Production YoY Final JUL JPY
-3.8% 0.7
Japan, Industrial Production MoM Final JUL JPY
-3.3% 1.3%
Japan, Capacity Utilization MoM JUL JPY
-2.6% China, FDI (YTD) YoY AUG CNY
7.3%
China, New Yuan Loans AUG CNY
CNY1060B CNY1225B
China, Outstanding Loan Growth YoY AUG CNY
12.6% 12.5%
China, Total Social Financing AUG CNY
CNY1010B CNY 1650B
China, M2 Money Supply YoY AUG CNY
8.1% 8.1%
US Retail Sales MoM AUG USD
0.7% 0.3%
US Export Prices YoY AUG USD
-0.9% US Export Prices MoM AUG USD
0.2% -0.3%
US Import Prices YoY AUG USD
-1.8%
US Import Prices MoM USD
0.2% -0.4%
US Retail Sales YoY AUG USD
3.4% US Business Inventories MoM JUL USD
0% 0.1%
16-Sep-19 China, Fixed Asset Investment (YTD) YoY AUG CNY
5.7%
China, Industrial Production YoY AUG CNY
4.8%
China, Retail Sales YoY AUG CNY
7.6%
Indonesia, Balance of Trade AUG IDN
$-0.06B
Indonesia, Exports YoY AUG IDN
-5.12% Indonesia, Imports YoY AUG IDN
-15.21%
Source: Bloomberg Lp
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CORPORATE ACTION
RUPS
Date Time Company Event Place
12-Sep-19 14:00 MKNT RUPSLB Jakarta
16-Sep-19 TBA PSSI RUPSLB TBA
17-Sep-19 14:00 PANI RUPSLB Aula Serbaguna Dahlia Apartemen Kedoya
18-Sep-19 10:00 INAF RUPSLB Hotel Borobudur Jakarta 14:00 KAEF RUPSLB Hotel Borobudur Jakarta
25-Sep-19 9:00 KONI RUPSLB Hotel Lumire
13:00 RIGS RUPS Hotel Park Rigs Arion Kemang 14:00 BYAN RUPSLB Mercantile Athletic Club WTC I 14:00 GOLL RUPSLB Plaza Mutiara 14:00 MDKA RUPSLB Grand Aston
26-Sep-19 9:00 MICE RUPSLB Kantor Pusat MICE 10:00 TIRA RUPSLB Ruang Seminar TIRA
10:30 NIPS RUPSLB Hotel Salak Bogor Lt 4
27-Sep-19 10:00 HEXA RUPS Kantor Pusat HEXA
11:00 VINS RUPSLB Gedung Graha BIP
14:00 ACST RUPSLB Ruang Seminar BEI 14:00 ENRG RUPSLB Bakrie Tower Lt 25 14:30 BSSR RUPSLB TBA Dividend
Code Status Cum- Date Ex-Date Recording Date Pay -Date Ammount (IDR)/Share
TGKA Cash Dividen 6-Sep-19 9-Sep-19 10-Sep-19 19-Sep-19 35
IPO Company Underwriter Offering Date Listing Date IPO Price Shares (Mn)
Bhakti Agung Propertindo Tbk MNC Sekuritas 03 - 09 September 2019 16-Sep-19 150 1,677
Telefast Indonesia Tbk Sinarmas Sekuritas 09 - 11 September 2019 17-Sep-19 180 416
Gunung Raja Paksi Tbk Kresna Sekuritas 13 - 16 September 2019 19-Sep-19 825 - 900 1,240
Optima Prima Metal Sinergi Tbk Sinarmas Sekuritas 12 - 16 September 2019 23-Sep-19 125 - 135 400
Nusantara Almazia Tbk Sinarmas Sekuritas 17 - 18 September 2019 25-Sep-19 200 - 220 461
Trinitan Metals & Minerals Tbk Mirae Asset Sekuritas 23 - 27 September 2019 1-Oct-19 270 - 300 333
Source: KSEI and OSO Research Team
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OSODaily 13 September 2019
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Rifqiyati Research Analyst +62 21 2991 5300 (Rifqiyati @oso-securities.com)
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Mochammad Cahyo Research Analyst +62 21 2991 5300 ([email protected])
Michelle Abadi Research Associate +62 21 2991 5300 ([email protected])
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