Volume JCI Index - Sinarmas Sekuritas...2020/02/26 · World Equity Indices Source: Bloomberg,...

1

Today’s Market:

IHSG diperkirakan bergerak mixed dengan kecenderungan

melemah. Bursa AS ditutup melemah pada perdagangan

Selasa (25/02). Harga batubara stabil di level USD 67,90

per Mt. Crude oil turun ke level USD 50,23 per barrel. Ru-

piah melemah terhadap Dollar AS di level Rp 13.885. 10Yr

Government Bonds Yield stabil di level 6,55%.

Dari dalam negeri, pemerintah memutuskan memberikan

stimulus berupa insentif transportasi kepariwisataan. Dis-

kon berkisar 40-50% dari tarif riil yang berlaku untuk 25%

dari total kursi yang tersedia dari tiap penerbangan.

Sehubungan dengan emiten, United Tractors (UNTR) men-

catatkan penjualan alat berat Komatsu sepanjang 2019

sebesar 2,926 units (-40% YoY). Penjualan bulan Januari

2020 sebesar 250 units (-46% YoY).

Sehubungan dengan emiten, Acset Indonusa (ACST) men-

catat pendapatan sepanjang 2019 sebesar Rp 3,95 tn

(+5,9% YoY). Rugi tercatat sebesar Rp 1,14 tn (vs laba Rp

4,83 bn pada 2018).

Sehubungan dengan emiten, Siloam International Hospi-

tals (SILO) melepas 5% sahamnya kepada perusahaan

asal Jepang, Marubeni Corporation.

Secara teknikal indeks hari Rabu (26/02), IHSG diprediksi

bergerak di kisaran 5730-5815.

Source: Bloomberg, Sinarmas Investment Research See pg. 6-8 for Technical Corner

www.sinarmassekuritas.co.id See important disclaimer at the end of this report

Wednesday, February 26, 2020

ID X Stat ist ics C lo sing

JCI 5,787.14

Transaction Value Regular M arket (IDR tn) 4.449

Transaction Volume Regular M arket (mn shares) 3,950

Foreign Net Buy (Sell) (IDR bn) (847)

Foreign Net Buy (Sell) (0.14)

Total M arket Capitalization (IDR tn) 6,718.43

LQ45 941.68 0.02 (7.18)

EIDO 22.87 (0.87) (10.87)

IDX 20.11 (0.35) (11.10)

DOW JONES 27,081.36 (3.15) (5.11)

S&P 500 3,128.21 (3.03) (3.17)

NASDAQ 8,965.61 (2.77) (0.08)

FTSE 7,017.88 (1.94) (6.95)

NIKKEI 22,605.41 (3.34) (4.44)

HANG SENG 26,893.23 0.27 (4.60)

STRAITS TIM ES 3,158.24 0.51 (2.00)

KLSE 1,500.88 0.73 (5.53)

USD/IDR 13,885.00 0.12 0.14

EUR/IDR 15,095.04 0.28 (3.05)

JPY/IDR 126.16 0.57 (1.41)

SGD/IDR 9,930.00 (0.15) (3.96)

AUD/IDR 9,155.15 (0.13) (6.16)

GBP/IDR 18,049.46 0.69 (0.96)

Crude Oil (USD/barrel) 50.23 7:51:49 AM (17.74)

Coal (USD/mn tons) 67.90 2/25/2020 0.30

Natural Gas (USD/mmBtu) 1.84 7:19:03 AM (15.99)

Gold (USD/ounce) 1,641.89 8:01:52 AM 8.16

Nickel (USD/mn tons) 12,545.00 8:01:52 AM (10.52)

Tins (USD/mn tons) 16,750.00 8:01:51 AM (2.47)

CPO (M YR/mn tons) 2,480.00 2/25/2020 (18.45)

Rubber (JPY/kg) 178.10 6:45:01 AM 0.45

Wheat (USD/bushel) 539.00 2/25/2020 (3.53)

Corn (USD/bushel) 372.50 2/25/2020 (3.93)

P riceLast

T ransact io n

YT D

C hg (%)C o mmo dit ies

Other Indices C lo sing 1-D ay C hg (%)YT D

C hg (%)

C urrency Spo t R ate R ate ( ID R ) 1-D ay C hg (%)YT D

C hg (%)

IHSG turun sebanyak 19.9 poin (0.34%) ke level 5787.14.

Sementara LQ45 naik sebanyak 0.2 poin (0.02%) ke level

941.68. Foreign net sell sebesar Rp 846.53 miliar.

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

3,000

3,500

4,000

4,500

5,000

5,500

6,000

6,500

7,000

Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20

Millio

ns

Volume JCI Index

2

Daily Corporate and Industry News

Menteri Koordinator Bidang Kemaritiman dan Investasi Luhut B Pandjaitan mengungkapkan, Presiden Joko Widodo (Jokowi) dan Presiden Amerika Serikat (AS) Donald Trump akan bertemu dalam waktu dekat, di antaranya untuk membahas investasi di ibu kota negara (IKN) baru di Kalimantan Timur (Kaltim). Source: Investor Daily Pemerintah memutuskan memberikan stimulus berupa insentif transportasi kepariwisataan yang telah disetujui Ke-menterian Keuangan dan telah disepakati sesuai hasil Rapat Terbatas hari ini Selasa di Jakarta yang dipimpin lang-sung oleh Presiden Joko Widodo terkait larangan penerbangan akibat penyebaran virus Corona COVID 19. Stimulus ini berupa insentif yang diberikan terhadap tarif penerbangan menuju ke daerah pariwisata yaitu Batam, Denpasar, Yogyakarta, Labuan Bajo, Lombok, Malang, Manado, Toba(Silangit), Tanjung Pandan dan Tanjung Pinang selama tiga bulan. Source: IQPlus Perusahaan Listrik Negara wajib mengumumkan adanya penyesuaian tarif (tariff adjustment) tenaga listrik kepada konsumen paling lambat 1 bulan sebelum pelaksanaannya. Ketentuan itu tertuang dalam Peraturan Menteri ESDM No. 3 Tahun 2020 tentang Perubahan Keempat atas Peraturan Menteri ESDM No. 28 Tahun 2016 tentang Tarif Tena-ga Listrik yang disediakan oleh PT Perusahaan Listrik Negara (Persero). Source: Bisnis indonesia Pertamina (Persero) meminta insentif untuk bisnis hulu migasnya agar dapat menekan harga gas hulu menjadi han-ya US$ 4,5 per juta british thermal unit (million british thermal unit/mmbtu). Source: Investor Daily Marubeni Corporation dan Lippo Karawaci (LPKR) mengumumkan kemitraan strategis. Marubeni memiliki 5% saham Siloam International Hospitals (SILO). Source: Kontan Multi Bintang Indonesia (MLBI) mencatatkan penjualan sepanjang 2019 sebesar Rp 3,71 tn (+3,9% YoY), dan laba bersih Rp 1,2 tn (-1,6% YoY). Source: Kontan Urban Jakarta Propertindo (URBN) akan mengakuisisi 51% saham PT Jakarta River City dari PT Ciptaruang Persada Property (CPP). Source: Investor Daily Siloam International Hospitals (SILO) melepas 5% sahamnya kepada perusahaan asal Jepang, Marubeni Corpora-tion. Source: Bisnis Indonesia


3

World Equity Indices

Source: Bloomberg, Sinarmas Investment Research


WOR LD EQUIT Y IN D IC ES

N O T IC KER

1 INDU Index 29,568.57 24,680.57 (1,457.08) (5.11) 19.20 17.16 4.03 3.87 8,087.80 8,087.80

2 SPX Index 3,393.52 2,722.27 (102.57) (3.17) 20.64 18.02 3.46 3.22 27,774.08 27,774.08

3 CCM P Index 9,838.37 7,292.21 (6.99) (0.08) 34.28 24.32 4.70 3.57 14,272.62 14,272.62

4 SPTSX Index 17,970.51 15,891.94 113.94 0.67 17.28 15.57 1.86 1.68 2,681.00 2,019.89

5 M EXBOL Index 45,955.41 38,265.51 (495.34) (1.14) 16.54 14.10 2.10 1.85 5,427.20 284.66

6 SX5E Index 3,867.28 3,239.20 (172.64) (4.61) 19.36 13.88 1.68 1.58 3,134.55 3,411.34

7 UKX Index 7,727.49 7,004.43 (524.56) (6.95) 18.94 12.81 1.70 1.61 1,873.79 2,438.17

8 CAC Index 6,111.41 5,152.30 (298.38) (4.99) 21.09 14.20 1.63 1.54 1,742.06 1,895.89

9 DAX Index 13,795.24 11,266.48 (458.52) (3.46) 23.96 13.88 1.57 1.49 1,183.74 1,288.27

10 IBEX Index 10,100.20 8,409.20 (298.40) (3.12) 20.06 12.19 1.35 1.23 581.35 632.68

11 FTSEM IB Index 25,483.05 19,535.50 (415.93) (1.77) 15.28 11.48 1.16 1.10 516.81 562.44

12 AEX Index 632.12 528.68 (21.87) (3.62) 19.77 16.12 1.89 1.84 781.89 850.93

13 SM I Index 11,270.00 9,228.86 (138.43) (1.30) 22.10 16.54 2.66 2.50 1,256.46 1,288.28

14 AS51 Index 7,197.20 6,096.80 40.02 0.60 20.19 17.97 2.15 2.07 2,066.47 1,364.70

15 AS30 Index 7,289.70 6,181.10 5.40 0.08 20.47 17.86 2.10 2.05 2,246.45 1,483.56

16 SHSZ300 Index 4,223.51 3,556.26 27.27 0.67 14.73 12.04 1.88 1.63 32,927.71 4,694.84

17 SHASHR Index 3,444.44 2,814.01 (38.54) (1.21) 14.52 11.02 1.47 1.27 34,763.48 4,956.58

18 SZASHR Index 2,035.92 1,524.76 230.91 12.81 40.78 19.11 2.85 2.80 26,862.69 3,830.09

19 HSI Index 30,280.12 24,899.93 (1,296.52) (4.60) 11.08 10.38 1.18 1.09 17,713.45 2,273.87

20 HSCEI Index 11,881.68 9,731.89 (588.14) (5.27) 8.53 8.12 1.12 1.01 12,976.76 1,665.82

21 SENSEX Index 42,273.87 35,714.16 (972.54) (2.36) 24.65 21.73 3.15 3.05 74,959.33 1,043.38

22 NIFTY Index 12,430.50 10,637.15 (370.55) (3.05) 23.07 20.87 2.87 2.77 87,906.77 1,223.59

23 JCI Index 6,636.33 5,752.34 (512.40) (8.13) 17.80 13.76 1.66 1.92 6,718,428.58 481.30

24 LQ45 Index 1,059.65 888.02 (72.80) (7.18) 15.68 13.84 2.25 2.08 4,345,045.54 311.27

25 KSE100 Index 43,468.22 28,670.98 (1,876.63) (4.61) 9.10 6.41 1.19 1.04 6,215.59 40.29

26 NKY Index 24,115.95 20,110.76 (1,341.14) (5.67) 19.68 17.54 1.66 1.62 370,662.34 3,368.74

27 NEY Index 356.77 298.20 (19.88) (5.68) 13.74 13.32 1.08 1.05 435,775.92 3,960.52

28 TPX Index 1,747.20 1,462.41 (122.14) (7.10) 14.92 13.98 1.13 1.13 615,451.75 5,593.49

29 FBM KLCI Index 1,726.00 1,481.46 (87.88) (5.53) 16.62 15.07 1.51 1.40 967.63 228.51

30 NZSE Index 2,019.39 1,605.93 10.80 0.56 27.99 27.24 2.32 2.37 160.48 101.57

31 PCOM P Index 8,419.59 7,129.19 (627.82) (8.03) 15.71 14.24 1.82 1.62 8,940.81 175.09

32 FSSTI Index 3,415.18 3,040.16 (64.59) (2.00) 11.67 12.98 1.06 1.05 556.61 397.75

33 KOSPI Index 2,277.23 1,891.81 (125.11) (5.69) 18.40 11.52 0.81 0.85 1,361,061.44 1,119.44

34 TWSE Index 12,197.64 10,180.04 (456.91) (3.81) 18.26 15.47 1.72 1.79 34,858.92 1,147.85

35 SET Index 1,748.15 1,416.40 (140.74) (8.91) 16.59 14.95 1.53 1.53 15,444.99 486.82

36 SET50 Index 1,164.72 952.09 (100.58) (9.41) 16.29 15.37 1.77 1.62 10,845.34 341.84

37 VNINDEX Index 1,028.97 891.85 (51.32) (5.34) 14.16 12.92 2.10 2.11 3,114,359.70 133.86

A sia/ P acif ic

A merica

52-WEEK C H A N GE YT D P ER (x) P B V (x) M A R KET C A P (B n)

Euro pe

H IGH LOW P OIN T %T railing

12M2020E

T railing

12M2020E

D o main

C urrencyUSD

4

LQ45



LQ45 Index

HIGH LOW POINT %Trailing

12M2020E

Trailing

12M2020E

1 ADRO IJ 1,285 1,715 1,010 (270) (17.36) 5.80 11.58 0.77 0.77 41,101,961

2 AKRA IJ 2,990 5,800 2,920 (960) (24.30) 16.61 13.93 1.46 1.41 12,003,938

3 ANTM IJ 685 1,175 660 (155) (18.45) 20.46 17.65 0.83 0.81 16,461,074

4 ASII IJ 6,100 8,025 5,925 (825) (11.91) 12.06 10.33 1.73 #N/A N/A 246,949,674

5 BBCA IJ 32,625 35,300 25,700 (800) (2.39) 28.16 24.09 4.62 #N/A N/A 804,369,701

6 BBNI IJ 7,575 10,250 6,650 (275) (3.50) 9.18 8.54 1.15 #N/A N/A 141,263,573

7 BBRI IJ 4,490 4,760 3,660 90 2.05 15.98 13.63 2.66 #N/A N/A 553,822,687

8 BBTN IJ 1,820 2,750 1,675 (300) (14.15) 93.45 9.27 0.81 #N/A N/A 19,273,800

9 BMRI IJ 7,775 8,175 6,275 100 1.30 13.20 11.87 1.77 #N/A N/A 362,833,333

10 BRPT IJ 1,110 1,525 564 (400) (26.49) 554.26 40.02 5.98 1.25 98,808,370

11 BSDE IJ 1,085 1,580 1,060 (170) (13.55) 6.86 12.06 0.72 0.73 20,882,665

12 BTPS IJ 4,250 5,125 2,050 0 0.00 32.69 24.95 8.19 6.25 32,740,725

13 CPIN IJ 6,450 8,000 4,190 (50) (0.77) 29.06 30.78 5.29 4.97 105,767,100

14 CTRA IJ 940 1,335 855 (100) (9.62) 17.24 15.86 1.19 1.15 17,446,685

15 ERAA IJ 1,740 2,260 965 (55) (3.06) 15.61 18.71 1.18 1.09 5,550,600

16 EXCL IJ 2,520 3,730 2,310 (630) (20.00) 38.00 #N/A N/A 1.41 #N/A N/A 26,933,660

17 GGRM IJ 55,250 100,975 49,175 2,250 4.25 11.46 12.10 2.24 #N/A N/A 106,305,862

18 HMSP IJ 1,905 4,030 1,900 (195) (9.29) 15.81 16.88 6.94 #N/A N/A 221,585,936

19 ICBP IJ 11,025 12,550 8,950 (125) (1.12) 25.82 22.67 5.37 #N/A N/A 128,572,536

20 INCO IJ 3,010 4,320 2,410 (630) (17.31) 37.37 24.11 1.14 1.03 29,908,380

21 INDF IJ 7,200 8,300 5,850 (725) (9.15) 12.95 12.06 1.74 #N/A N/A 63,219,071

22 ACES IJ 1,510 1,920 1,395 15 1.00 25.97 23.31 5.78 #N/A N/A 25,896,500

23 INKP IJ 6,100 12,425 5,325 (1,600) (20.78) 7.76 - 0.61 - 33,372,996

24 INTP IJ 15,900 22,875 15,250 (3,125) (16.43) 34.35 32.26 2.62 #N/A N/A 58,531,584

25 ITMG IJ 10,650 24,475 9,800 (825) (7.19) 6.52 8.00 0.95 0.97 12,033,701

26 JPFA IJ 1,525 2,430 1,280 (10) (0.65) 11.57 11.50 1.78 1.66 17,883,027

27 JSMR IJ 4,960 6,450 4,500 (215) (4.15) 18.62 20.12 1.99 #N/A N/A 35,999,041

28 KLBF IJ 1,355 1,690 1,260 (265) (16.36) 24.73 22.79 4.15 #N/A N/A 63,515,790

29 LPPF IJ 3,300 6,025 2,940 (910) (21.62) 11.87 6.35 5.17 #N/A N/A 9,256,115

30 TBIG IJ 1,180 1,365 608 (50) (4.07) 37.32 #N/A N/A 7.19 #N/A N/A 26,735,259

31 MNCN IJ 1,355 1,780 725 (275) (16.87) 7.61 #N/A N/A 1.52 #N/A N/A 19,344,120

32 PGAS IJ 1,480 2,690 1,445 (690) (31.80) 11.98 #N/A N/A 1.00 0.97 35,877,432

33 PTBA IJ 2,350 4,260 2,110 (310) (11.65) 5.98 6.85 1.52 1.46 27,073,549

34 PTPP IJ 1,335 2,550 1,330 (250) (15.77) 7.08 #N/A N/A 0.64 #N/A N/A 8,276,863

35 PWON IJ 540 815 510 (30) (5.26) 8.93 11.50 1.80 1.80 26,006,185

36 SCMA IJ 1,205 1,870 1,080 (205) (14.54) 14.42 13.59 3.40 3.48 17,803,480

37 SMGR IJ 11,250 14,450 10,075 (750) (6.25) 29.20 22.88 2.14 #N/A N/A 66,729,600

38 SRIL IJ 210 372 208 (50) (19.23) 3.54 3.03 0.53 - 4,294,957

39 TKIM IJ 7,325 13,475 5,575 (2,950) (28.71) 10.94 - 1.20 - 22,804,363

40 TLKM IJ 3,640 4,500 3,431 (330) (8.31) 17.80 16.57 3.62 #N/A N/A 360,586,468

41 TOWR IJ 865 900 600 60 7.45 21.19 16.82 5.15 #N/A N/A 44,127,651

42 UNTR IJ 17,900 28,900 17,225 (3,625) (16.84) 6.24 7.44 1.20 #N/A N/A 66,769,419

43 UNTR IJ 17,900 28,900 17,225 (3,625) (16.84) 6.24 7.44 1.20 #N/A N/A 66,769,419

44 WIKA IJ 1,970 2,500 1,710 (20) (1.01) 7.94 #N/A N/A 1.12 #N/A N/A 17,670,804

45 WSKT IJ 1,075 2,230 1,075 (410) (27.61) 10.52 #N/A N/A 0.80 #N/A N/A 14,591,997

MARKET CAP

(Mn)LQ45 Index

CHANGE YTD PER (x) PBV (x)

24-Feb-20

52-WEEK

5

Macro data


D escript io n 1-D ay (%) 5-D ays (%) 1-M o nth (%) YT D (%)

Property (0.20) (3.38) (6.32) (12.01)

Basic Industry (2.86) (5.47) (14.90) (15.43)

Trade (0.01) (2.02) (7.07) (10.53)

Finance 0.03 (1.02) (4.13) (2.44)

M iscellaneous Industry 1.76 1.37 (9.94) (10.66)

Consumer (0.56) (1.82) (9.20) (8.73)

Infrastructure (0.27) (0.98) (8.67) (11.75)

Agriculture 0.28 (3.18) (8.66) (17.70)

M ining (0.43) 0.09 (3.46) (7.91)

Jan-20 D ec-19

0.38 3.61

2.68 2.72

0.39 0.34

131.70 129.18

F OR EX Spo t R ate 1-D ay (%) 1-M o nth (%) YT D (%)

USD/IDR 13,885.00 - (1.94) (0.14)

USD/CNY 7.01 0.23 (1.46) (0.72)

USD/EUR 0.92 0.11 1.38 3.15

USD/JPY 110.24 (0.04) (1.22) (1.48)

USD/SGD 1.40 (0.11) (3.04) (3.88)

USD/AUD 1.52 0.13 2.54 6.43

USD/GBP 0.77 0.04 0.44 1.99

( in %)

5.42

0.85

1.46

5.69

6.55

7.06

Inflation M oM (in %)

Foreign Reserves (in USD bn)

Secto rs

Eco no mic Indicato rs

Inflation YTD (in %)

Eco no mic P arameters

Inflation YoY (in %)

Indonesia 5-Year Government Bonds Yield



Lending and D epo sit R ates

JIBOR (in IDR)

LIBOR (in GBP)

SIBOR ( in USD)


Technical Corner


JCI : MIXED MELEMAH

Last price : 5.787

Support : 5.767, 5.730

Resistance : 5.815, 5.843

JCI pada hari ini kami perkirakan akan bergerak MIXED MELEMAH dengan range 5.730 - 5.815. JCI

breakdown Support 5.815, berpeluang menguji Support 5.767 dan 5.730. Namun, jika JCI bertahan diatas

Resistance 5.815 ,berpeluang mencoba Resistance 5.767 dan 5.730. Indikator Stoc osc dan MACD masih

membentuk pola Downtrend.

Jakarta Composite Index (JCI)

Summary of portfolio:

Stock Recommendation Comment

DMAS HOLD Entry point 274 (25/2) sudah tercapai. DMAS bertahan pada Support 274,berpeluang menguji 270 dan 266, Namun, jika DMAS berhasil break diatas

280, akan mencoba Resistance 286 dan 290.

HMSP BUY ON WEAKNESS HMSP bertahan pada Support 1.860, berpeluang mencoba Resistance 1.900dan 1.940, Namun, jika HMSP gagal bertahan diatas 1.860, akan menguji

Support 1.840 dan 1.800.

BMRI HOLD BMRI bertahan pada Resistance 7.800, berpeluang mencoba Resistance 7.900dan 7.975.

ADRO HOLD ADRO bertahan diatas Support 1.265, berpeluang mencoba Resistance 1.300dan 1.320. Namun, jika ADRO gagal bertahan diatas 1.265, akan kembali

menguji Support 1.245 dan 1.235.

DMAS : HOLD

Last price : 274Target price : 296 (8.0%)Stop loss : 260 (-5.1%)

Entry point 274 (25/2) sudah tercapai. DMAS bertahan pada Support 274, berpeluang menguji 270 dan 266, Namun,jika DMAS berhasil break diatas 280, akan mencoba Resistance 286 dan 290. Indikator macd dan stoc osc masihmengindikasikan pola Downtrend. Candle chart membentuk pola black spinning top.

HMSP : BUY ON WEAKNESS

Last price : 1.860Target price : 1.940 (5.4%)Entry point : 1.840Stop loss : 1.800 (-2.2%)

HMSP bertahan pada Support 1.860, berpeluang mencoba Resistance 1.900 dan 1.940, Namun, jika HMSP gagalbertahan diatas 1.860, akan menguji Support 1.840 dan 1.800. HMSP dilihat dari Indikator MACD dan Stoc oscmengindikasikan pola Oversold.

Support : 270, 266Resistance : 280, 286

Support : 1.840, 1.800Resistance : 1.900, 1.940

H.M Sampoerna Tbk (HMSP)

Puredelta Lestari Tbk ( DMAS )


Bank Mandiri (Persero)Tbk (BMRI)

Adaro Energy Tbk (ADRO)


BMRI : HOLD

Last price : 7.800Target price : 8.125 (4.2%)Stop loss : 7.600 (-2.6%)

BMRI bertahan pada Resistance 7.800, berpeluang mencoba Resistance 7.900 dan 7.975. Namun, jika BMRI gagalbertahan diatas 7.800, akan menguji Support 7.750 dan 7.675. BMRI dilihat dari Indikator MACD dan indikator Stocosc mengindikasikan pola Downtrend. Candle chart membentuk pola White spinning top.

ADRO : HOLD

Last price : 1.285Target price : 1.385 (4.9%)Stop loss : 1.265 (-4.2%)

ADRO bertahan diatas Support 1.265, berpeluang mencoba Resistance 1.300 dan 1.320. Namun, jika ADRO gagalbertahan diatas 1.265, akan kembali menguji Support 1.245 dan 1.235. Indikator MACD dan Stoc osc mengindikasikanpola Downtrend.



PT Sinarmas Sekuritas

Sinarmas Land Plaza Tower 3, 6th Fl.

Jl. M. H. Thamrin no. 51

Tel: +62 21 392 5550

Fax: +62 21 392 5540

[email protected]

www.sinarmassekuritas.co.id

Equity Research Team

HEAD OF RESEARCH

Evan Lie Hadiwidjaja

Banking, Automotive

Tel: +62 21 3925550 Ext: 615

[email protected]

DEPUTY HEAD OF RESEARCH

Wilbert

Consumer Goods, Plantation, Pulp and Paper

Tel: +62 21 3925550 Ext: 611

[email protected]

EQUITY ANALYST

Richard Suherman

Commodities

Tel: +62 21 3925550 Ext: 610

[email protected]

EQUITY ANALYST

Richardson Raymond

Property, Industrial Estate

Tel: +62 21 3925550 Ext: 159

[email protected]

EQUITY ANALYST

Paulina

Retail, Cement, Digital

Tel: +62 21 3925550 Ext: 610

[email protected]

EQUITY ANALYST

Anthony Angkawijaya

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