Juni 6, 2018 · 2018-06-06 · ROTI: Expanding into new markets ... Ciputra Development Tbk...
Transcript of Juni 6, 2018 · 2018-06-06 · ROTI: Expanding into new markets ... Ciputra Development Tbk...
Mimim Halimin +62-21-515-1140 [email protected]
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Mirae Asset Sekuritas Indonesia
ROTI’s 1Q18 net sales by region
Source: Company data, Mirae Asset Sekuritas Indonesia Research
Embun Pagi
Juni 6, 2018
ROTI: Expanding into new markets
Potential rise in bread demand amid diversification of consumer tastes
Menurut USDA report, karena kondisi makroekonomi yang relatif stabil,
konsumen berpendapatan menengah dan menengah atas di Indonesia bisa
mendiversifikasi makanan mereka untuk lebih menyertakan makanan Western-
style seperti roti dan pasta. Kami percaya bahwa diversifikasi selera konsumen
berpotensi menjadi faktor peningkatan permintaan roti di Indonesia di masa
depan. Salah satu produsen roti yang dapat memperoleh manfaat dari hal
tersebut adalah Nippon Indosari Corpindo (ROTI IJ /Not rated).
Competition is heating up
Meskipun permintaan meningkat, pasar roti di Indonesia cukup kompetitif dan
fragmented. Menurut data, industri roti Indonesia masih didominasi oleh
pemain rumahan/ kecil, sementara produsen massal hanya sekitar 20% dari
pasar. Akhir-akhir ini, kami memperhatikan bahwa kompetisi semakin ketat
dengan bertambahnya pemain yang relatif baru.
Expansion overseas and at home
Pada bulan Februari 2016, ROTI menandatangani perjanjian kerjasama dengan
Monde Nissin Corporation untuk mendirikan Sarimonde Foods Corporation.
Namun, pada 1Q18, kontribusi pendapatan dari Filipina masih kecil (1.7% dari
net sales 1Q18 ROTI). Sebagai rencana ekspansi ke depan lainnya, ROTI berniat
membangun empat hingga enam pabrik baru di Jawa, Sumatra, dan
Kalimantan. Kami berharap rencana ekspansi ROTI dapat meningkatkan
pertumbuhan penjualan ke depan.
1Q18 review: Higher proportion of defective inventory was a drag
Sementara hasil kinerja 1Q18 cukup baik di gross level, kinerja cukup
mengecewakan di tingkat operating karena peningkatan persediaan
kadaluarsa/ cacat. Di masa depan, kami percaya bahwa ROTI masih memiliki
banyak ruang untuk tumbuh dikarenakan bonus demografi Indonesia. Selain
itu, kami berharap rencana ekspansi ROTI bisa menciptakan pasar tambahan di
masa mendatang. Faktor risiko: porsi persediaan kadaluarsa yang lebih tinggi
dan persaingan yang lebih ketat.
Market Index
Last Trade Chg (%) MoM YoY
JCI 6,088.8 1.2 3.8 5.4
MSCI Indonesia 25.8 -1.0 5.9 -3.5
MSCI EM 1,144.4 -0.2 0.9 12.9
HANG SENG 31,093.5 0.3 3.6 19.2
KOSPI 2,447.8 0.2 -0.6 3.3
FTSE 7,686.8 -0.7 2.3 2.9
DJIA 24,800.0 -0.1 2.3 17.4
NASDAQ 7,637.9 0.4 5.5 21.2
Valuation
2018F P/E (x) P/B (x) ROE (%)
JCI 15.8 2.4 17.7
Key Rates
Last Trade Chg (bps) MoM YoY
BI 7-Day RR 4.75 25 50 0
3yr 6.86 4 39 13
10yr 7.12 11 10 18
FX
Last Trade Chg (%) MoM YoY
USD/IDR 13,880.00 0.0 -0.9 4.5
USD/KRW 1,071.95 -0.3 -0.5 -4.1
USD/JPY 109.79 0.0 0.6 0.3
USD/CNY 6.41 -0.2 0.6 -5.8
Commodities
Last Trade Chg (%) MoM YoY
WTI 65.5 1.2 -6.0 25.0
Gold 1,296.4 0.3 -1.4 0.2
Coal 113.0 -0.3 12.4 48.9
Palm Oil 2,405.0 -0.4 3.7 -12.3
Rubber 133.0 -0.6 -1.2 -1.7
Nickel 15,750.0 1.7 12.3 76.8
Copper 7,099.0 1.8 4.0 26.4
Tin 20,735.0 0.4 -2.7 5.0
JCI Index VS MSCI Emerging Markets
850
1,000
1,150
1,300
1,450
1,600
5,000
5,500
6,000
6,500
7,000
01/17 05/17 09/17 01/18 05/18
JCI MSCI EM(pt)
(pt)
650
800
950
1,100
3,500
4,500
5,500
04/13 01/14 10/14 07/15 04/16
(pt) JCI MSCI EM (pt)
10.9%
84.0%
3.5%
1.7%
West Area
Central Area
East Area
Philippines
Juni 6, 2018
3
Embun Pagi
Mirae Asset Sekuritas Indonesia
Local flashes
CTRA: Ciputra Development berencana menerbitkan saham baru Rp 2,2 triliun. PT
Ciputra Development Tbk memperoleh restu dari pemegang saham dalam rencananya
memperoleh pendanaan lewat skema penambahan modal tanpa hak memesan efek
terlebih dahulu (PMT-HMETD). Nantinya, perseroan akan menerbitkan sekitar 1,8 miliar
saham lewat aksi korporasi tersebut dengan harga pelaksanaan sebesar Rp 1191,4 per
sahamnya. Dengan demikian, CTRA akan memperoleh dana segar sebesar Rp 2,2 triliun
lewat PMT-HMETD tersebut. (Kontan)
KLBF: Kalbe Farma menargetkan pabrik di Myanmar beroperasi pada 2020. PT Kalbe
Farma Tbk tengah memperluas pasar ekspor. Untuk menggarap potensi pasar, Kalbe
Farma tengah membangun satu pabrik di Myanmar dengan anggaran US$ 15 juta
hingga US$ 20 juta. Anggaran ini diambil dari total belanja modal tahun ini sebesar Rp
1,2 triliun. Jika tak ada aral melintang, tahun 2020 pabrik anyar ini akan mulai
beroperasi. (Kontan)
LPCK: Lippo Cikarang menargetkan marketing sales capai Rp 10,52 triliun. PT Lippo
Cikarang Tbk (LPCK) membukukan capaian marketing sales sebesar Rp 1,95 triliun pada
kuartal I-2018. Jika diperbandingkan dengan kuartal I-2017, marketing sales LPCK
meningkat 1.058,57%. Berdasarkan materi paparan publik dalam keterbukaan
informasi di Bursa Efek Indonesia (BEI), kontribusi terbesar marketing sales LPCK di
kuartal I-2018 ini masih disumbang oleh marketing sales Meikarta, yang mencapai Rp
1,9 triliun. (Kontan)
PZZA: Kuartal I/2018, Laba Sarimelati Kencana Naik 79%. PT Sarimelati Kencana Tbk.
membukukan laba periode tahun berjalan kuartal I/2018 senilai Rp32,69 miliar, tumbuh
hingga 79,22% year on year dari posisi Rp18,24 miliar pada periode yang sama tahun
sebelumnya. Dalam laporan keuangan kuartal I/2018 yang dirilis pada Selasa (5/6/2018),
raihan laba tersebut didongkrak oleh peningkatan penjualan menjadi Rp802,79 miliar,
tumbuh 18,38% dari posisi Rp678,11 miliar. (Bisnis Indonesia)
EXCL: XL Axiata akan habiskan mayoritas capex untuk ekspansi luar Jawa. Tahun ini,
XL Axiata sudah menganggarkan anggaran belanja modal atau capital expenditure Rp 7
triliun. Sebesar 70% akan digunakan untuk pembangunan infrastruktur data di luar
Jawa. Sedangkan sisanya untuk peningkatan kualitas sistem teknologi informasi (TI),
pengembangan big data dan customer analitics. (Kontan)
WSKT: Anak Usaha WSKT Tambah Modal Di Trans Jabar Tol. PT Waskita Toll Road
selaku anak usaha PT Waskita Karya Tbk dengan kepemilikan 77,11% telah
meningkatkan modal disetor dan ditempatkan secara tunai pada PT Trans Jabar Tol
(TJT). Menurut keterangan perseroan Selasa disebutkan, TJT merupakan anak
perusahaan WTR dengan kepemilikan 99,99% dan selau pemegang konsensi jalan tol
ruas Bogor-Ciawi-Sukabumi. Adapun nilai peningkatan modal sebesar Rp114,099 miliar.
(Kontan)
INTP: Kerek Margin, Indocement Tunggal Prakarsa Pertimbangkan Kerek Harga. PT
Indocement Tunggal Prakasa Tbk. mempertimbangkan untuk mengerek harga jual
produk di level 1%—2% pada semester II/2018, untuk mengantisipasi kinerja finansial
perusahaan yang terdampak pasokan semen nasional yang berlimpah. Direktur Utama
Indocement Tunggal Prakasa Christian Kartawijaya mengungkapkan selama kuartal
I/2018, biaya produksi perseroan telah mengalami kenaikan 11% dibandingkan dengan
kuartal I/2017 (yoy), namun harga jual justru melemah lebih dari 7%. (Bisnis Indonesia)
Juni 6, 2018
4
Embun Pagi
Mirae Asset Sekuritas Indonesia
Technical analysis
Tasrul +62-21-515-1140 [email protected]
Jakarta Composite Index (JCI) – Test Resistance at 6,120
IHSG akan coba menguji abnormal upper band pada downtrend channel jangka
pendek.
IHSG dalam pergerakkan jangka pendek terlihat masih bergerak dalam downtrend relatif
valid (r-squared = 0.8316) sejak 89 hari terakhir dimana bergerak normal dalam rentang
+/-1.38 std.deviasi dari centerline dan baru konfirm mematahkan pola downtrend
cahnnel jika mampu tembus dan bertahan diatas level 6,123. Peluang IHSG bergerak di
luar pergerakan normal sekitar 16.88% atau sekitar 15 bar chart. Rata-rata volatilitas
normal pergerakan IHSG secara harian saat ini antara +0.51% / - 0.68% atau +31.05/ -
42.41 point (rata-rata pergerakan normal positif / negatif selama periode analisis)
sebagaimana terlihat pada Figure 1.
Summary
Item Data Item Data
Close (June 5, 2017) 6,088.79(+1.23%) Trading range 6,068 - 6,120
Average index performance (%) (3.87) Target
Period 89 - Daily 6,120
r-squared 0.8316 - Weekly 6,139
Volatility (+/-, %) +0.51/ -0.68 - Monthly 6,217
Volatility (+/-, point) +31.05/ -41.41 Stop loss 5,840
031 Source: Mirae Asset Sekuritas Indonesia Research
Figure 1. Daily , Short term trend – Dowtrend
Source: Mirae Asset Sekuritas Indonesia Research
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 6,098.4
_____ 6,026.3
Optimization Trading System - ©2010 Optimization Trading System - ©2010 Optimization Trading System - ©2010 Optimization Trading System - ©2010 Optimization Trading System - ©2010
^JKSE [ ^JKSE ] - Daily - 6/5/2018 Open: 6,031 High: 6,089 Low: 6,026 Close: 6,089 Vol. 7,130,862,592
Prev . Av g. Price: 6,067.7
R-Squared: 0.8316
Period: 89
Std.Dev : 1.38
Volatility (+) : 0.0051
Volatility (-) : -0.0068
V-Ratio : 0.74
Chg.: 1.23%
6,088.79
6,034.44
6,000.61
5,910.24
5,840.36
5,840.36
5,680.11
5,557.74
6,122.98
6,144.7
Feb Mar Apr May Jun
^JKSE - Volume = 7,130,862,592.00, EMA(Volume,24) = 6,850,094,080.00
7,130,862,592
6,850,094,080
Juni 6, 2018
5
Embun Pagi
Mirae Asset Sekuritas Indonesia
Kenaikan indikator teknikal pada pergerakan daily dan weekly masih terlihat.
Pada Figure 2, terlihat dari hasil optimalisasi terakhir pada periode daily, kenaikan pada
indikator MFI optimized dan indikator W%R optimized masih terlihat. Pada Figure 3
pada periode weekly ,indikator MFI optimized, indikator RSI optimized dan
Stochastic %D optimized masih cenderung bergerak naik. Daily resistance terdekat di
6,120 dan support di 6,068. Cut loss level di 5,840.
Figure 2. Daily, Short term trend, MFI optimized & W%R optimized
Source: Mirae Asset Sekuritas Indonesia Research
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
^JKSE - MFI Smoothed = 65.40
65.3961
^JKSE - Will%R Smoothed = -8.92-8.92452
_____ 6,098.1
_____ 6,025.9
Optimization Trading System - ©2010 Optimization Trading System - ©2010 Optimization Trading System - ©2010
^JKSE [ ^JKSE ] - Daily - 6/5/2018 Open: 6,031 High: 6,089 Low: 6,026 Close: 6,089 Vol. 7,130,862,592
Prev . Av g. Price: 6,067.7
R-Squared: 0.8316
Period: 89
Std.Dev : 1.38
Volatility (+) : 0.0050
Volatility (-) : -0.0069
V-Ratio : 0.73
Chg.: 1.23%
6,088.79
6,034.44
5,910.24
6,144.7
Nov Dec 2018 Feb Mar Apr May Jun
^JKSE - Volume = 7,130,862,592.00, EMA(Volume,24) = 6,850,094,080.00
7,130,862,592
6,850,094,080
Juni 6, 2018
6
Embun Pagi
Mirae Asset Sekuritas Indonesia
Figure 3. Weekly Trend – Uptrend, MFI optimized,RSI optimized & Stochastic %D optimized
Source: Mirae Asset Sekuritas Indonesia Research
IHSG akan coba bertahan diatas level 6,067
Pada pergerakkan daily, rata-rata kenaikan normal sekitar +0.51%, saat ini di +1.23% .
Sementara itu pada pergerakkan weekly potensi kenaikan normal rata-rata sekitar
+1.31%, sementara saat ini di level +1.76%. Pada pergerakan monthly saat ini di level
+1.76%, normal kenaikan sekitar +2.60 %..Dengan demikian potensi kenaikan masih
terlihat. Pada Figure 4,5 dan 6 terlihat perkiraan normal trading range untuk masing-
masing periode.
Figure 4. Daily : 6,068 – 6,120 Figure 5. Weekly : 5,987– 6,139 Figure 6. Monthly : 5,898 – 6,217
x
x
Source: Mirae Asset Sekuritas Indonesia Research
Source: Mirae Asset Sekuritas Indonesia Research
Source: Mirae Asset Sekuritas Indonesia Research
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 6,098.4
_____ 6,026.3
6,067.7
6,119.8
^JKSE [ ^JKSE ] - Daily - 6/5/2018 Open: 6,031
Prev . Av g. Price: 6,067.7
R-Squared: 0.8316
Period: 89
Std.Dev : 1.38
Volatility (+) : 0.0051
Volatility (-) : -0.0068
V-Ratio : 0.74
Chg.: 1.23%
6,088.79
21 28 Jun
^JKSE - Volume = 7,130,862,592.00
7,130,862,592
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 6,138.9
_____ 5,987.0
6,059.6
^JKSE [ ^JKSE ] - Weekly - 6/5/2018 Open:
Prev . Av g. Price: 6,059.6
R-Squared: 0.9196
Period: 145
Std.Dev : 1.75
Volatility (+) : 0.0131
Volatility (-) : -0.0120
V-Ratio : 1.09
Chg.: 1.76%
6,088.79
Apr May Jun
^JKSE - Volume = 14,943,258,624.00
14,943,258,624
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 6,217.1
_____ 5,898.4
6,059.6
^JKSE [ ^JKSE ] - Monthly - 6/5/2018 Open:
Prev . Av g. Price: 6,059.6
R-Squared: 0.9145
Period: 35
Std.Dev : 1.72
Volatility (+) : 0.0260
Volatility (-) : -0.0266
V-Ratio : 0.98
Chg.: 1.76%
6,088.79
Jul Oct 2018
^JKSE - Volume = 14,943,258,624.00
14,943,258,624
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
^JKSE - MFI Smoothed = 86.73 86.7328
^JKSE - RSI Smoothed = 55.73
55.7324
^JKSE - Stochastic %D = 57.24, MA = 30.88
57.2379
30.877
Optimization Trading System - ©2010 Optimization Trading System - ©2010 Optimization Trading System - ©2010
^JKSE [ ^JKSE ] - Weekly - 6/5/2018 Open: 6,004 High: 6,089 Low: 6,001 Close: 6,089 Vol. 14,943,258,624
Prev . Av g. Price: 6,059.6
R-Squared: 0.9196
Period: 145
Std.Dev : 1.75
Volatility (+) : 0.0131
Volatility (-) : -0.0120
V-Ratio : 1.09
Chg.: 1.76%
6,755.91
6,441.12
6,441.12
6,126.33
6,088.79
6,056.14
5,930.55
6,951.7
Jul Oct 2016 Apr Jul Oct 2017 Apr Jul Oct 2018 Apr
^JKSE - Volume = 14,943,258,624.00, EMA(Volume,9) = 26,983,700,480.00
14,943,258,624
26,983,700,480
Juni 6, 2018
7
Embun Pagi
Mirae Asset Sekuritas Indonesia
Stocks on our focus list
Ace Hardware Indonesia (ACES) - Weekly, Trading Buy
Harga akan coba naik dan tembus center line pada uptrend channel.
Secara umum harga saham ini masih bergerak pada uptrend channel yang masih
relatif valid (r-squared = 0.88) selama 78 hari terakhir yang bergerak normal dalam
rentang +/- 1.38 std.deviasi dari center line. Peluang harga keluar dari pergerakan
normal sekitar +16.95 % (sekitar 13 bar chart ). Rata-rata volatilitas normal pergerakan
harga saat ini antara +3.91%/ -3.97% atau -48.88 rupiah / -49.63 rupiah (rata-rata
pergerakan normal positif / negatif, selama periode analisis) sebagaimana terlihat pada
Figure 7.
Summary
Item Data Item Data
Close (June 5, 2017) 1,250 (+0.0%) Trading range 1,190 - 1,290
0Relative Avg. Price performance to JCI (%) 27.07 Target
β (beta) 1.12 - Daily 1,270
Corelation 0.88 - Weekly 1,290
Period 78 - Monthly 1,340
r-squared 0.831 Stop loss 1,150
Volatility (+/-, %) +3.91/ -3.97
Volatility (+/-, Rp.) +48.88/ -49.63
Source: Mirae Asset Sekuritas Indonesia Research
Figure 7. Weekly trend – Uptrend
Source: Mirae Asset Sekuritas Indonesia Research
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 1,288.5
_____ 1,190.7
Optimization Trading System - ©2010 Optimization Trading System - ©2010 Optimization Trading System - ©2010
Ace Hardware Ind [ ACES.JK ] - Weekly - 6/5/2018 Open: 1,250 High: 1,260 Low: 1,210 Close: 1,250 Vol. 16,832,700
Prev . Av g. Price: 1,240.0
R-Squared: 0.8305
Period: 78
Std.Dev : 1.38
Volatility (+) : 0.0391
Volatility (-) : -0.0397
V-Ratio : 0.98
Chg.: 0.000%
1,250
1,149.14
1,263.86
1,290.56
1,405
1,405
1,519.45
1,660.87
Oct 2017 Apr Jul Oct 2018 Apr
ACES.JK - Volume = 16,832,700.00, EMA(Volume,29) = 37,293,752.00
16,832,700
37,293,752
Juni 6, 2018
8
Embun Pagi
Mirae Asset Sekuritas Indonesia
Aliran dana masuk dan volatilitas harga naik masih terlihat.
Pada Figure 8, terlihat dari hasil optimalisasi terakhir terlihat pada indikator MFI
optimized , indikator W%R optimized dan indikator Stochastic%D masih cenderung
naik. Weekly support di 1,190 dan weekly resistance di 1,290.Cut loss level di 1,150.
Figure 8. Weekly, MFI optimized , W%R optimized & Stochastic %D optimized
Source: Mirae Asset Sekuritas Indonesia Research
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
ACES.JK - MFI Smoothed = 55.44
55.437
ACES.JK - Will%R Smoothed = -38.61
-38.6087
ACES.JK - Stochastic %D = 67.57, MA = 44.32
67.5676
44.317
_____ 1,287.6
_____ 1,191.8
Optimization Trading System - ©2010
Ace Hardware Ind [ ACES.JK ] - Weekly - 6/5/2018 Open: 1,250 High: 1,260 Low: 1,210 Close: 1,250 Vol. 16,832,700
Prev . Av g. Price: 1,240.0
R-Squared: 0.8305
Period: 78
Std.Dev : 1.38
Volatility (+) : 0.0384
Volatility (-) : -0.0389
V-Ratio : 0.99
Chg.: 0.00%
1,250
1,263.86
2016 Apr Jul Oct 2017 Apr Jul Oct 2018 Apr
ACES.JK - Volume = 16,832,700.00, EMA(Volume,29) = 37,293,752.00
16,832,700
37,293,752
Juni 6, 2018
9
Embun Pagi
Mirae Asset Sekuritas Indonesia
Harga akan coba naik dan bertahan diatas rata-rata pada masing-masing periode.
Untuk mampu naik lebih lanjut, harga saham saat ini harus mampu minimal bertahan
diatas rata-rata masing-masing periode (positive area). Pada pergerakkan daily harga
saat ini di level +2.88% , normal kenaikan sekitar +1.85%.Sementara itu pada
pergerakkan weekly harga di level +0.0%, normal kenaikan sekitar +3.91 %. Sementara
itu pada pergerakan monthly masih terlihat potensi kenaikan sekitar +7.97% dan saat
ini sekitar +0.0%, Dengan demikian potensi kenaikan masih terlihat. Pada Figure 9,10
dan 11 terlihat perkiraan normal trading range untuk masing-masing periode.
Figure 9. Daily : 1,240 – 1,270 Figure 10. Weekly : 1,190 – 1,290 Figure 11. Monthly : 1,150– 1,340
x`x`
Source: Mirae Asset Sekuritas Indonesia Research
Source: Mirae Asset Sekuritas Indonesia Research
Source: Mirae Asset Sekuritas Indonesia Research
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 1,288.5
_____ 1,190.7
1,240
Ace Hardware Ind [ ACES.JK ] - Weekly - 6/5/2018
Prev . Av g. Price: 1,240.0
R-Squared: 0.8305
Period: 78
Std.Dev : 1.38
Volatility (+) : 0.0391
Volatility (-) : -0.0397
V-Ratio : 0.98
Chg.: 0.00%
1,250
Apr May Jun
ACES.JK - Volume = 16,832,700.00
16,832,700
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 1,338.8
_____ 1,146.5
1,240
Ace Hardware Ind [ ACES.JK ] - Monthly - 6/5/2018
Prev . Av g. Price: 1,240.0
R-Squared: 0.8156
Period: 39
Std.Dev : 1.32
Volatility (+) : 0.0797
Volatility (-) : -0.0754
V-Ratio : 1.06
Chg.: 0.00%
1,250
Jul Oct 2018
ACES.JK - Volume = 16,832,700.00
16,832,700
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 1,262.9
_____ 1,216.6
1,285.0
1,240
1,274.6
Ace Hardware Ind [ ACES.JK ] - Daily - 6/5/2018
Prev . Av g. Price: 1,240.0
R-Squared: 0.8397
Period: 359
Std.Dev : 1.41
Volatility (+) : 0.0185
Volatility (-) : -0.0189
V-Ratio : 0.98
Chg.: 2.88%
1,250
21 28 Jun
ACES.JK - Volume = 7,132,800.00
7,132,800
Juni 6, 2018
10
Embun Pagi
Mirae Asset Sekuritas Indonesia
Barito Pacific (BRPT) - Weekly, Trading Buy
Harga akan coba naik mendekati normal lower band pada uptrend channel.
Secara umum harga saham ini juga masih bergerak dalam pola uptrend channel yang
masih relatif valid (r-squared = 0.94) selama 114 minggu terakhir dan bergerak normal
dalam rentang +/- 1.93 std.deviasi dari center line. Peluang harga keluar dari
pergerakan normal sekitar +5.41 % (sekita 6 bar chart ). Rata-rata volatilitas normal
pergerakan harga saat ini antara +6.38 %/ -4.37 atau +138.45 rupiah / -94.83 rupiah
(rata-rata pergerakan normal positif / negatif, selama periode analisis) sebagaimana
sebagaimana terlihat pada Figure 12.
Summary
Item Data Item Data
Close (June 5, 2017) 2,170 (+2.36%) Trading range 2,070 - 2,300
Relative Avg. Price performance to JCI (%) 54.72 Target
β (beta) 0.56 - Daily 2,200
Corelation 0.94 - Weekly 2,300
Period 114 - Monthly 2,640
r-squared 0.946 Stop loss 2,040
Volatility (+/-, %) +6.38/ -4.37
Volatility (+/-, Rp.) +138.45/ -94.83
Source: Mirae Asset Sekuritas Indonesia Research
Figure 12. Weekly trend – Uptrend
Source: Mirae Asset Sekuritas Indonesia Research
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 2,297.8
_____ 2,065.6
Optimization Trading System - ©2010 Optimization Trading System - ©2010 Optimization Trading System - ©2010 Optimization Trading System - ©2010
Barito Pacific T [ BRPT.JK ] - Weekly - 6/5/2018 Open: 2,120 High: 2,210 Low: 2,100 Close: 2,170 Vol. 42,483,900
Prev . Av g. Price: 2,160.0
R-Squared: 0.9459
Period: 114
Std.Dev : 1.93
Volatility (+) : 0.0638
Volatility (-) : -0.0437
V-Ratio : 1.46
Chg.: 2.36%
2,170
2,100
2,041.14
2,346.96
2,366.68
2,732.24
2,732.24
3,097.8
3,364.48
Oct 2016 Apr Jul Oct 2017 Apr Jul Oct 2018 Apr
BRPT.JK - Volume = 42,483,900.00, EMA(Volume,16) = 103,685,848.00
42,483,900
103,685,848
Juni 6, 2018
11
Embun Pagi
Mirae Asset Sekuritas Indonesia
Aliran dana keluar dan volatilitas harga turun mulai terbatas.
Pada Figure 13, terlihat dari hasil optimalisasi indikator MFI optimized dan
stochastic %D optimized sudah berada sekitar support trend line. Daily dan Weekly
resistance di 2,200 dan 2,300. Sementara itu daily dan weekly support di 2,120 dan
2,070. Cut loss level di 2,040.
Figure 13. Weekly, MFI optimized & Stochastic % D optimized
Source: Mirae Asset Sekuritas Indonesia Research
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
BRPT.JK - MFI Smoothed = 0.94
0.935823
BRPT.JK - Stochastic %D = 28.28, MA = 35.53
28.2828
35.5263
_____ 2,297.8
_____ 2,065.6
Optimization Trading System - ©2010 Optimization Trading System - ©2010
Barito Pacific T [ BRPT.JK ] - Weekly - 6/5/2018 Open: 2,120 High: 2,210 Low: 2,100 Close: 2,170 Vol. 42,483,900
Prev . Av g. Price: 2,160.0
R-Squared: 0.9459
Period: 114
Std.Dev : 1.93
Volatility (+) : 0.0638
Volatility (-) : -0.0437
V-Ratio : 1.46
Chg.: 2.36%
2,170
2,041.14
2,346.96
Jul Oct 2017 Apr Jul Oct 2018 Apr
BRPT.JK - Volume = 42,483,900.00, EMA(Volume,16) = 103,685,848.00
42,483,900
103,685,848
Juni 6, 2018
12
Embun Pagi
Mirae Asset Sekuritas Indonesia
Harga saat ini akan coba naik dan bertahan diatas rata-rata pada masing-masing
Periode.
Untuk mampu naik lebih lanjut, harga saham saat ini harus mampu minimal bertahan
diatas rata-rata masing-masing periode (positive area) . Lebih lanjut potensi kenaikan
normal harga pada pergerakkan daily sekitar +1.42%, saat ini di level +1.88%. Sementara
itu pada pergerakkan weekly kenaikan normal sekitar +6.38% saat ini harga di level
+2.36%. Dengan demikian potensi kenaikan masih terlihat. Pada Figure 14,15 dan 16
terlihat perkiraan normal trading range untuk masing-masing periode.
Figure 14. Daily : 2,120 – 2,200 Figure 15. Weekly : 2,070– 2,300 Figure 16. Monthly : 2,010 – 2.640
x
Source: Mirae Asset Sekuritas Indonesia Research
Source: Mirae Asset Sekuritas Indonesia Research
Source: Mirae Asset Sekuritas Indonesia Research
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 27,626.8
_____ 25,245.1
26,250
Indo Tambangraya [ ITMG.JK ] - Weekly -
Prev . Av g. Price: 26,250.0
R-Squared: 0.9228
Period: 131
Std.Dev : 1.77
Volatility (+) : 0.0524
Volatility (-) : -0.0383
V-Ratio : 1.37
Chg.: 2.32%
26,425
Apr May Jun
ITMG.JK - Volume = 1,392,700.00
1,392,700
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 29,782.7
_____ 23,764.6
26,250
Indo Tambangraya [ ITMG.JK ] - Monthly -
Prev . Av g. Price: 26,250.0
R-Squared: 0.9087
Period: 32
Std.Dev : 1.69
Volatility (+) : 0.1346
Volatility (-) : -0.0947
V-Ratio : 1.42
Chg.: 2.32%
26,425
Jul Oct 2018
ITMG.JK - Volume = 1,392,700.00
1,392,700
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 2,204.1
_____ 2,118.8
2,173.3
Barito Pacific T [ BRPT.JK ] - Daily - 6/5/2018
Prev . Av g. Price: 2,173.3
R-Squared: 0.8094
Period: 30
Std.Dev : 1.30
Volatility (+) : 0.0142
Volatility (-) : -0.0251
V-Ratio : 0.56
Chg.: 1.88%
2,170
21 28 Jun
BRPT.JK - Volume = 19,694,400.00
19,694,400
Juni 6, 2018
13
Embun Pagi
Mirae Asset Sekuritas Indonesia
Indika Energy (INDY) – Weekly, Trading Buy
Harga akan coba naik mendekati center lina pada uptrend channel.
Secara umum harga akan coba naik mendekati center line pada uptrend channel yang
masih relatif valid dengan r-squared = 0.867selama 66 minggu terakhir dan bergerak
normal dalam rentang +/-1.51 std.deviasi dari centerline. Peluang harga keluar dari
pergerakan normalnya sekitar 13.26 % (sekitar 9 bar chart ). Rata-rata volatilitas
normal pergerakan harga saat ini antara + 8.42/ -4.78 % atau +335.96 rupiah / -190.72
rupiah (rata-rata pergerakan normal positif / negatif, selama periode analisis)
sebagaimana terlihat pada Figure 17.
Summary
Item Data Item Data
Close (June 5, 2017) 3,990(+6.68%) Normal trading range 3,930 - 4,250
Relative Avg. Price performance to JCI (%) 218.04 Target
β (beta) 1.09 - Daily 4,060
Corelation 0.84 - Weekly 4,250
Period 66 - Monthly 5,070
r-squared 0.867 Stop loss 3,610
Volatility (+/-, %) +8.42/ -4.78
Volatility (+/-, Rp.) +335.96/ -190.72
Source: Mirae Asset Sekuritas Indonesia Research
Figure 17. Weekly Trend – Uptrend
Source: Mirae Asset Sekuritas Indonesia Research
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
Optimization Trading System - ©2010 Optimization Trading System - ©2010
_____ 4,253.5
_____ 3,735.7
Optimization Trading System - ©2010
Indika Energy Tb [ INDY.JK ] - Weekly - 6/5/2018 Open: 3,770 High: 4,070 Low: 3,710 Close: 3,990 Vol. 79,362,600
Prev . Av g. Price: 3,923.3
R-Squared: 0.8674
Period: 66
Std.Dev : 1.51
Volatility (+) : 0.0842
Volatility (-) : -0.0478
V-Ratio : 1.76
Chg.: 6.68%
5,157.01
4,426.89
4,426.89
3,990
3,897.2
3,696.77
3,608.6
5,245.18
2017 Apr Jul Oct 2018 Apr
INDY.JK - Volume = 79,362,600.00, EMA(Volume,20) = 89,389,056.00
79,362,600
89,389,056
Juni 6, 2018
14
Embun Pagi
Mirae Asset Sekuritas Indonesia
Aliran dana masuk dan volatilitas harga naik masih terlihat.
Pada Figure 18, terlihat dari hasil optimalisasi, indikator MFI optimized indikator
Stochastic %W optimized serta indikator Stochastic %D optimized cenderung naik.
Dengan demikian diperkirakan potensi kenaikan masih terlihat. Perkiraan daily dan
weekly resistance di 4,060 dan 4,250. Daily support dan weekly support di 3,860
dan 3,930. Cut loss level di 3,610.
Figure 18. Weekly ,MFI optimized, W&R optimized & Stochastic %D optimized
Source: Mirae Asset Sekuritas Indonesia Research
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
INDY.JK - MFI Smoothed = 49.98
49.9833
INDY.JK - Will%R Smoothed = -23.21
-23.2101
INDY.JK - Stochastic %D = 62.13, MA = 40.66
62.1302
40.6565
_____ 4,253.5
_____ 3,735.7
Optimization Trading System - ©2010
Indika Energy Tb [ INDY.JK ] - Weekly - 6/5/2018 Open: 3,770 High: 4,070 Low: 3,710 Close: 3,990 Vol. 79,362,600
Prev . Av g. Price: 3,923.3
R-Squared: 0.8674
Period: 66
Std.Dev : 1.51
Volatility (+) : 0.0842
Volatility (-) : -0.0478
V-Ratio : 1.76
Chg.: 6.68%
3,990
3,897.2
2016 Apr Jul Oct 2017 Apr Jul Oct 2018 Apr
INDY.JK - Volume = 79,362,600.00, EMA(Volume,20) = 89,389,056.00
79,362,600
89,389,056
Juni 6, 2018
15
Embun Pagi
Mirae Asset Sekuritas Indonesia
Harga akan coba bertahan diatas rata-rata pada masing-masing periode.
Untuk mampu naik lebih lanjut, harga saham saat ini harus mampu minimal bertahan
diatas rata-rata masing-masing periode (positive area) . Jika dilihat lebih lanjut potensi
kenaikan normal pada pergerakkan daily sekitar +2.8%, saat ini di level +6.68 %. Pada
pergerakkan weekly kenaikan normal sekitar +8.42 %, saat ini di level +6.68%.
Sementara itu pada pergerakan monthly, potensi kenaikan normal +29.25%, saat ini di
+6.68%.. Pada Figure 19,20 dan 21 terlihat perkiraan normal trading range untuk
masing-masing periode.
Figure 19. Daily : 3,860 – 4,060 Figure 20. Weekly : 3,930 – 4,250 Figure 21. Monthly : 3,620 – 5,070
Source: Mirae Asset Sekuritas Indonesia Research
Source: Mirae Asset Sekuritas Indonesia Research
Source: Mirae Asset Sekuritas Indonesia Research
Relative Avg.Price Performance to JCI (%) : Persentase kenaikan harga saham dari rata-rata sejak IHSG memulai uptrend-nya β (beta) : Indikator sensitivitas harga saham terhadap IHSG, beta diatas 1 berarti harga makin sensitif terhadap pergerakan IHSG dan sebaliknya Correlation : Ukuran kuat hubungan (korelasi) pergerakan harga saham dibanding dengan pergerakan IHSG selama periode analisis. Period : Periode uptrend / downtrend yang valid dari pergerakan harga saham. r-squared : Koefisien determinasi, menunjukkan persentase gerakan yang dapat dijelaskan dengan regresi linier.Nilai R2 terletak antara 0 – 1, dan kecocokan model dikatakan lebih baik kalau R2 semakin mendekati 1 (validitas uptrend atau downtrend makin valid) Volatility (+/-%) : Besaran volatilitas normal positif/negatif dari pergerakan harga harian selama harga saham bergerak normal pada trend channel dalam persentase. Volatility (+/- point or Rp) : Besaran volatilitas normal positifl/negatif dari pergerakan harga harian selama harga saham bergerak dalam periode analisis.
Buy: : Beli, harga sudah menyentuh atau jatuh di bawah support dan indikator teknikal berada di oversold area. Sell: : Jual, harga sudah menyentuh atau tembus resistance normal dan indikator berada di overbought area. BoW: : Buy on Weakness, beli ketika harga sudah melemah, dimana volume tekanan jual mulai berkurang dan harga mendekati support, serta indikator teknikal sudah berada di oversold area. SoS: : Sell on Strength, jual ketika kenaikan harga sudah mulai terbatas dimana volume beli mulai berkurang dan harga mendekati resistance, serta indikator teknikal sudah berada di overbought area. Trading Buy: : Beli dan jual kembali secepatnya jika harga sudah mencapai level resistance terdekat, karena kenaikan harga relatif tidak stabil atau hanya sementara. Trading Sell : Jual dan beli kembali secepatnya jika harga sudah mencapai level support terdekat karena koreksi harga relatif tidak stabil atau hanya sementara.
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 4,064.2
_____ 3,864.2
3,953.3
Indika Energy Tb [ INDY.JK ] - Daily - 6/5/2018
Prev . Av g. Price: 3,953.3
R-Squared: 0.8522
Period: 258
Std.Dev : 1.45
Volatility (+) : 0.0280
Volatility (-) : -0.0225
V-Ratio : 1.24
Chg.: 6.68% 3,990
21 28 Jun
INDY.JK - Volume = 60,947,700.00 60,947,700
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 4,253.5
_____ 3,735.7
3,923.3
Indika Energy Tb [ INDY.JK ] - Weekly - 6/5/2018
Prev . Av g. Price: 3,923.3
R-Squared: 0.8674
Period: 66
Std.Dev : 1.51
Volatility (+) : 0.0842
Volatility (-) : -0.0478
V-Ratio : 1.76
Chg.: 6.68%
3,990
Apr May Jun
INDY.JK - Volume = 79,362,600.00
79,362,600
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 5,071.0
_____ 3,624.53,923.3
Indika Energy Tb [ INDY.JK ] - Monthly - 6/5/2018
Prev . Av g. Price: 3,923.3
R-Squared: 0.7711
Period: 31
Std.Dev : 1.20
Volatility (+) : 0.2925
Volatility (-) : -0.0762
V-Ratio : 3.84
Chg.: 6.68%
3,990
Jul Oct 2018
INDY.JK - Volume = 79,362,600.00
79,362,600
Juni 6, 2018
16
Embun Pagi
Mirae Asset Sekuritas Indonesia
Chart 22. JCI Vs. USD/IDR Chart 23. JCI performance (absolute vs. relative)
Source: Bloomberg, Mirae Asset Sekuritas Indonesia Note: Relative to MSCI EM Index
Source: Bloomberg, Mirae Asset Sekuritas Indonesia
Chart 24. Foreigner’s net purchase (EM) Chart 25. Energy price
Note: The latest figure for India are June 4tt, 2018
Source: Bloomberg, Mirae Asset Sekuritas Indonesia Source: Bloomberg, Mirae Asset Sekuritas Indonesia
Chart 26. Non-ferrous metal price Chart 27. Precious metal price
Source: Bloomberg, Mirae Asset Sekuritas Indonesia Source: Bloomberg, Mirae Asset Sekuritas Indonesia
13,200
13,600
14,000
14,400
5,600
6,000
6,400
6,800
3/6 4/3 5/1 5/29
(IDR) (pt) JCI (L) USD/IDR (R)
1.2 1.9
5.1
6.7
1.4
-1.0
4.4
-6.0 -8
-4
0
4
8
1D 1W 1M 1Y
Absolute Relative(%, %p)
-9
86 6
-7 -13
444
722
-20 -17
-388
-50
301
-600
-400
-200
0
200
400
600
800
Korea Taiwan Indonesia Thailand Philippines India
1 Day 5 Days (USDmn) (USDmn)
80
90
100
110
120
3/6 4/3 5/1 5/29
CPO WTI Coal(D-3M=100) (D-3M=100)
90
95
100
105
110
115
03/18 04/18 05/18 05/18
(D-3M=100) Copper Nickel Tin
90
95
100
105
110
03/18 04/18 05/18 05/18
(D-3M=100) Silver Gold Platinum
Juni 6, 2018
17
Embun Pagi
Mirae Asset Sekuritas Indonesia
Table. Key valuation metrics
Company Name Ticker Price Market Cap Price Performance (%) P/E(X)* P/B(X)* ROE(%)*
(IDR) (IDRbn) 1D 1W 1M 1Y FY18 FY19 FY18 FY19 FY18 FY19
Jakarta Composite Index JCI 6,089 6,842,704 1.2 1.9 5.1 6.7 15.8 14.1 2.4 2.2 17.7 8.4
FINANCIALS
Bank Central Asia BBCA 22,725 560,285 -0.9 0.8 3.2 29.5 23.2 24.3 4.1 4.3 19.1 19.0
Bank Mandiri Persero BMRI 7,350 343,000 -0.3 5.0 10.9 17.6 18.1 16.8 2.2 2.1 13.0 12.8
Bank Rakyat Indonesia Persero BBRI 3,110 383,605 -0.6 -0.3 2.6 6.0 15.3 13.8 2.7 2.3 18.5 18.2
Bank Negara Indonesia Persero BBNI 8,275 154,318 -2.4 3.8 10.7 27.3 13.6 11.5 1.9 1.6 14.7 14.7
Bank Tabungan Negara Persero BBTN 3,000 31,770 -3.2 0.0 13.2 24.0 18.1 15.3 1.7 1.5 9.9 10.5
CONSUMER
HM Sampoerna HMSP 3,800 442,009 3.0 0.8 15.9 -1.6 43.4 34.0 16.1 12.5 37.1 37.4
Gudang Garam GGRM 69,100 132,954 0.9 0.3 2.8 -7.1 20.8 17.8 3.8 3.1 19.0 18.1
Indofood CBP Sukses Makmur ICBP 8,775 102,333 1.2 5.7 7.0 0.3 27.3 26.5 5.3 5.2 20.5 20.7
Indofood Sukses Makmur INDF 7,200 63,219 2.5 2.5 13.4 -18.9 16.1 14.5 2.1 2.0 13.9 14.4
Kalbe Farma KLBF 1,415 66,328 3.7 3.3 1.8 -9.0 33.0 27.2 6.0 5.0 19.1 19.3
Unilever Indonesia UNVR 46,800 357,084 3.1 0.0 3.2 -0.1 60.9 49.4 82.4 66.9 141.8 143.6
AGRICULTURAL
Astra Agro Lestari AALI 12,250 23,577 -0.2 -3.5 4.7 -14.2 12.6 11.9 1.4 1.3 11.4 11.2
PP London Sumatera Indonesia LSIP 1,170 7,983 0.4 -5.3 2.2 -21.5 12.7 9.9 1.2 1.0 9.7 10.0
Sawit Sumbermas Sarana SSMS 1,195 11,382 -0.8 0.4 -7.0 -28.0 18.2 15.5 3.5 2.9 21.0 19.4
INFRASTRUCTURE
XL Axiata EXCL 2,540 27,147 7.2 11.4 38.8 -24.0 84.6 65.9 1.5 1.3 1.8 1.8
Jasa Marga JSMR 4,700 34,112 1.5 8.8 14.1 -6.0 21.1 14.8 3.1 2.1 15.3 14.9
Perusahaan Gas Negara PGAS 2,250 54,543 2.7 8.2 16.6 -5.9 21.5 20.3 1.0 1.2 4.5 5.6
Tower Bersama Infrastructure TBIG 5,000 22,657 -0.5 0.2 -5.7 -15.6 12.3 18.6 9.2 11.1 99.8 61.6
Telekomunikasi Indonesia TLKM 3,830 386,064 5.2 7.6 3.6 -10.3 19.9 16.4 4.7 4.0 25.0 25.9
Soechi Lines SOCI 198 1,398 -1.0 1.5 2.6 -35.3 5.6 2.9 0.4 N/A 7.1 11.3
Garuda Indonesia GIAA 248 6,420 -1.6 0.8 -9.5 -31.5 23.0 11.5 1.9 1.3 8.3 11.4
BASIC-INDUSTRIES
Semen Indonesia SMGR 8,800 52,197 1.4 0.3 -2.2 -5.4 29.1 23.0 2.0 1.8 7.0 7.8
Charoen Pokphand Indonesia CPIN 3,740 61,329 2.2 -0.3 3.0 21.4 19.7 24.1 3.1 3.9 16.8 16.4
Indocement Tunggal Prakarsa INTP 17,650 64,974 2.6 -4.3 3.8 -1.7 43.4 31.5 3.3 2.5 7.3 8.1
Japfa Comfeed Indonesia JPFA 1,610 18,371 0.3 -0.6 -0.6 22.0 14.8 15.4 1.6 1.9 11.0 12.8
MINING
Indo Tambangraya Megah ITMG 28,200 31,864 6.7 12.1 25.5 72.5 6.6 9.3 1.7 2.2 27.1 25.3
Adaro Energy ADRO 2,030 64,932 3.0 10.9 23.8 26.5 9.1 9.1 1.3 1.4 14.6 14.1
Aneka Tambang ANTM 885 21,267 0.6 1.7 6.6 22.9 110.0 N/A 0.8 1.2 0.7 -0.5
Vale Indonesia INCO 4,030 40,043 2.8 4.9 30.4 117.8 N/A N/A 1.2 1.6 -0.8 -0.6
Tambang Batubara Bukit Asam PTBA 4,000 46,083 1.0 6.7 19.4 81.0 5.8 12.3 1.9 3.3 37.3 29.3
TRADE
United Tractors UNTR 36,500 136,150 2.1 -2.7 8.6 35.4 17.8 18.0 2.9 3.2 17.2 17.2
AKR Corporindo AKRA 4,800 19,271 -2.6 5.0 6.4 -25.9 28.1 17.0 3.4 2.5 16.7 15.2
Global Mediacom BMTR 570 8,093 7.5 7.5 0.9 -7.3 16.5 N/A 0.9 N/A 5.3
Matahari Department Store LPPF 9,000 26,261 0.0 -4.3 -6.3 -39.2 15.3 13.3 12.5 9.9 91.2 90.4
Media Nusantara Citra MNCN 1,130 16,132 -3.4 -8.9 -10.0 -42.2 11.8 11.2 1.9 1.5 16.3 15.4
Matahari Putra Prima MPPA 290 1,560 -5.2 -0.7 -4.0 -61.6 N/A N/A 2.1 0.8 -69.0 -11.5
Surya Citra Media SCMA 2,450 35,823 -0.4 5.6 5.2 -6.1 27.2 23.6 9.3 9.3 36.3 41.9
Siloam International Hospital SILO 6,400 10,405 -4.8 -4.8 6.7 -44.0 140.2 91.8 2.5 1.7 2.0 2.5
PROPERTY
Bumi Serpong Damai BSDE 1,730 33,297 1.8 0.6 8.5 -2.8 6.6 11.2 1.3 1.4 21.4 12.9
Adhi Karya ADHI 1,930 6,872 0.5 -1.0 6.6 -14.2 13.0 13.4 1.1 1.2 9.1 8.5
Alam Sutera Realty ASRI 352 6,917 0.6 2.3 0.0 6.7 5.1 5.9 0.8 0.9 17.8 12.8
Ciputra Development CTRA 1,085 20,138 4.8 8.5 11.3 -3.6 24.7 20.4 1.6 1.5 6.9 8.6
Lippo Karawaci LPKR 370 8,542 -0.5 -2.1 -11.9 -43.1 18.1 8.6 0.5 0.4 3.0 5.3
Pembangunan Perumahan PTPP 2,600 16,120 0.4 -1.9 17.1 -15.9 11.3 11.3 1.4 1.5 13.8 13.1
Pakuwon Jati PWON 570 27,451 0.9 6.5 0.9 -5.8 17.6 14.0 3.2 2.6 19.7 19.6
Summarecon Agung SMRA 975 14,066 0.5 4.8 9.6 -22.6 37.6 49.2 2.1 2.0 5.7 4.9
Wijaya Karya WIKA 1,655 14,845 0.3 0.3 20.8 -24.8 11.6 12.1 1.1 1.2 10.0 10.0
Waskita Karya WSKT 2,400 32,577 2.1 3.4 23.1 5.3 7.8 9.9 2.1 2.1 31.0 22.7
MISCELLANEOUS
Astra International ASII 7,000 283,385 0.0 -3.4 -3.4 -21.1 17.8 14.5 2.7 2.3 16.0 15.9
Source: Bloomberg, Mirae Asset Sekuritas Indonesia
*Note: Valuation metrics based on Bloomberg consensus estimates
Juni 6, 2018
18
Embun Pagi
Mirae Asset Sekuritas Indonesia
Sector performance Top 10 market cap performance
Name Index Chg (%) Ticker Price Market Cap (IDRbn) Chg (%)
Agricultural 1,553.4 -0.6 FASW IJ 7475 18,522 18.7
Mining 1,951.4 1.5
IMAS IJ 3750 10,370 11.9
Basic-Industry 828.2 3.0 INKP IJ 20350 111,335 10.6
Miscellaneous Industry 1,231.0 0.6 BMTR IJ 570 8,093 7.5
Consumer Goods 2,498.2 2.3 EXCL IJ 2540 27,147 7.2
Property & Construction 476.9 1.4
AMRT IJ 740 30,728 6.8
Infrastructure 1,073.7 3.5 TKIM IJ 16100 50,123 6.8
Finance 1,072.3 -0.6 ITMG IJ 28200 31,864 6.7
Trade 911.3 0.7 TRAM IJ 382 18,959 6.7
Composite 6,088.8 1.2 INDY IJ 3990 20,789 6.7 Source: Bloomberg
Top 5 leading movers Top 5 lagging movers
Name Chg (%) Close Name Chg (%) Close
TLKM IJ 5.2 3,830 BBCA IJ -0.9 22,725
HMSP IJ 3.0 3,800 BBNI IJ -2.4 8,275
UNVR IJ 3.1 46,800 BBRI IJ -0.6 3,110
INKP IJ 10.6 20,350 SMBR IJ -4.4 3,260
TKIM IJ 6.8 16,100 BMRI IJ -0.3 7,350 Source: Bloomberg
Economic Calendar
Time Currency Detail Forecast Previous
3:15am CHF CPI m/m 0.3% 0.2%
4:10am EUR Retail PMI 48.6
6:40am GBP MPC Member Tenreyro Speaks
8:30am CAD Trade Balance -3.4B -4.1B
8:30am CAD Building Permits m/m -1.0% 3.1%
8:30am USD Revised Nonfarm Productivity q/q 0.7% 0.7%
8:30am USD Revised Unit Labor Costs q/q 2.7% 2.7%
8:30am USD Trade Balance -50.0B -49.0B
10:00am CAD Ivey PMI 69.7 71.5
10:30am USD Crude Oil Inventories -2.0M -3.6M
12:00pm GBP MPC Member McCafferty Speaks
6:30pm AUD AIG Construction Index 55.4
9:30pm AUD Trade Balance 0.98B 1.53B
Tentative AUD HIA New Home Sales m/m -2.0%
Note: Time is based on Indonesian local time
Source: Forex Factory
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