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Wednesday, November 12, 2014
DAILY RESEARCH
Sinarmas Investment Research/+6221 3925550/[email protected]
JCI Index
ID X S ta tis tic s
C lo s in g
J CI
5 ,0 3 2 .2 8
Tra n s a c tio n Va lu e (Rp tn )
5,060
5 .3 5 7
Tra n s a c tio n Vo lu me (mn s h a re s )
5,040
Fo re ig n Ne t Bu y (S e ll) (Rp b n )
5,020
Fo re ig n Ne t Bu y (S e ll) YTD (Rp tn )
5 ,17 3
9 3 4 .8 2
4 9 .4 1
a s p e rc e n ta g e o f la s t ye a r's
5,000
4 .11
To ta l Ma rke t Ca p ita liza tio n (Rp tn )
4,980
Ke y In d ic e s
4,960
Last Price
Previous day
Closed at 5032.28
Previous Day:
C lo s in g
J CI
Today’s Market:
Secara teknikal indeks hari Rabu (12/11) diperkirakan akan
bergerak menguat di level 5015-5060. Adanya respon positif
dari para pelaku pasar atas pidato yang dilakukan oleh Presiden Jokowi di KTT APEC diprediksi masih menjadi sentimen
utama terhadap pergerakan indeks. Sementara itu, masih dinantikan rencana kenaikan harga bahan bakar minyak (BBM)
bersubsidi.
1.3 5
17 .7
8 5 9 .0
1.8 4
2 0 .8
EIDO
2 6 .9 9
1.4 7
18 .2
2 4 .8
1.4 7
16 .6
DO W J O NES
17 ,6 14 .9
0 .0 1
6 .3
S &P 5 0 0
2 ,0 3 9 .7
0 .0 7
10 .4
NAS DAQ
4 ,6 6 0 .6
0 .19
11.6
FTS E
6 ,6 2 7 .4
0 .2 4
(1.8 )
NIKKEI
17 ,12 4 .1
2 .0 5
6 .6
2 3 ,8 0 8 .3
0 .0 8
2 .2
HANG S ENG
S TRAITS TIMES
3 ,2 9 2 .2
(0 .2 7 )
3 .9
KLS E
1,8 2 3 .4
(0 .0 9 )
(2 .3 )
F O R EX
R a te (ID R )
Y TD
Ch a n g e
%
12 ,2 2 2
0 .4 4
(0 .3 )
EUR/IDR
15 ,17 1
(0 .0 5 )
10 .2
J P Y/IDR
10 6
(1.0 6 )
9 .8
S G D/IDR
9 ,4 3 3
(0 .0 6 )
1.8
AUD/IDR
10 ,5 0 7
(0 .3 9 )
2 .4
G BP /IDR
19 ,3 6 5
P ric e
0 .2 0
1 Da y
R e tu rn
%
3 .6
Y TD
Ch a n g e
%
7 7 .9
0 .7 0
(2 1.3 )
7 1.5
NA
(12 .8 )
4 .2
(0 .19 )
(0 .8 )
1,16 4 .3
1.12
(3 .6 )
NICKEL (US D) / MT
15 ,4 3 0 .0
1.18
11.2
TIN (US D) / MT
2 0 ,0 5 0 .0
CO AL (US D) / MT
NATURAL G AS
(US D) / mmBtu
G O LD (US D) / O UNCE
See important disclaimer at the end of this report
Ch a n g e
%
US D/IDR
CRUDE O IL
(US D)/BARREL
UNDERVALUED STOCKS 2014:
ROTI 1,460
Y TD
Ch a n g e
%
5 ,0 3 2 .3
C o mmo d itie s
Top Technical Buys:
PGAS, TLKM, BMRI, WIKA
1 Da y
R e tu rn
%
LQ 4 5
IDX
Pada penutupan perdagangan hari Selasa (11/11), IHSG naik
sebanyak 66,89 poin (1,35%) ke level 5032,28. Ada sebanyak
192 saham yang naik, 107 saham yang mengalami koreksi,
dan 78 saham yang stagnan. Total perdagangan sebanyak Rp
5,357 triliun. LQ45 naik 15,50 poin (1,84%) ke level 859,04.
Sektor-sektor di zona hijau adalah sektor infrastruktur naik
2,16%, sektor aneka industri naik 1,92%, dan sektor agrikultur naik 1,87%. Foreign net buy sebesar Rp 934,82 miliar.
Indeks Nikkei naik 2,05%, Indeks Hang Seng menguat 1,25%.
Indeks Indeks Strait times melemah 0,31%.
4 ,7 2 0 .6 5
(0 .8 9 )
(9 .6 )
2 ,2 0 5 .0
0 .5 9
(15 .0 )
RUBBER (J P Y)/KG
18 9 .0
0 .4 3
(3 1.4 )
WHEAT/BUS HEL
5 2 5 .3
1.5 5
(13 .0 )
CO RN/BUS HEL
3 7 3 .8
1.2 2
(11.4 )
CP O (MYR) / MT
Wed nesd ay, November 12, 2014
CORPORATE & INDUSTRY NEWS
•
•
•
•
PT XL Axiata Tbk (EXCL) dan PT Indosat Tbk (ISAT) fokus ke pelanggan produktif untuk mendorong
pendapatan. Secara kuartalan, EXCL kehilangan 4 juta pelanggan sedangkan ISAT kehilangan 700 ribu pelanggan. Perusahaan akan mendorong konsumsi layanan seluler dan data pada pelanggan existing daripada
akuisisi pelanggan baru di kuartal akhir tahun ini. (Neutral) Source: Indonesia Finance Today
PT Tower Bersama Infrastructure Tbk (TBIG) menjajaki pinjaman US$ 1 miliar atau setara dengan Rp
12 triliun. Perusahaan menara telekomunikasi ini akan mengkombinasikan pinjaman berdenominasi dolar
Amerika Serikat (AS) dan Rupiah. (Neutral) Source: Investor Daily
Laba derivatif angkat performa PT Indo Tambangraya Megah Tbk (ITMG). Keuntungan transaksi derivative yang melonjak mencapai 418,11% berhasil mengangkat perolehan laba bersih ITMG di tengah penurunan kinerja penjualan. Berdasarkan laporan keuangan kuartal III-2014, perusahaan membukukan pertumbuhan laba bersih sebesar 8,53% selama Sembilan bulan pertama 2014 menjadi US$ 168,85 juta dari
periode yang sama tahun lalu sebesar US$ 155,86 juta. (Positive) Source: Bisnis Indonesia
PT Bumi Serpong Damai Tbk (BSDE) ekspansi bangun proyek residensial di Surabaya pada 2016. Pemilihan kawasan Wiyung sebagai lokasi ekspansi karena wilayah tersebut akan dilintasi jalan lingkar luar Surabaya. Langkah ekspansi ini seiring dengan rencana perusahaan untuk memulai pengembangan kawasan
industri di Benowo, Surabaya pada tahun yang sama. (Positive) Source: Indonesia Finance Today
See important disclaimer at the end of this report
2
Wed nesd ay, November 12, 2014
TRADING VIEW
Eddy Wijaya/ Technical Analyst/62 21 3925550
These recommendations are more based on technical and just for one day trading
RESEARCH DEPARTMENT
TICKER
RECOMMENDATION
PRICE
ENTRY
EXIT
S2
S1
R1
R2
EXPLANATION
AGRICULTURE
AALI
Trading Buy
23600
23600
23850
23300
23500
23850
BWPT
Trading Sell
500
500
490
480
490
515
24000 Morning star
LSIP
Buy on Weakness
1930
1910
1950
1880
1910
1950
Trading Buy
10525
10525
10625
10350
10500
10625
10700 Stoc osc : reversal
BBRI
Trading Buy
10925
10925
11050
10750
10850
11050
11150 Morning star
BBNI
Trading Buy
5800
5800
5900
5600
5700
5900
BBCA
Trading Buy
12825
12825
12925
12650
12750
12925
6525
11175
60250
30525
3820
6450
11175
59800
30525
3800
6600
11225
60400
30600
3840
6400
10950
59500
30150
3780
6450
11075
59800
30350
3800
6600
11225
60400
30600
3840
2280
2280
2320
2190
2240
2320
525 Rsi : downtrend
1980 Rsi : reversal
BANK & FINANCE
BMRI
6050 White spinning top
13100 Morning star
CONSUMER GOODS
INDF
ICBP
GGRM
UNVR
CPIN
Buy on Weakness
Trading Buy
Buy on Weakness
Trading Buy
Buy on Weakness
MAIN
Trading Buy
6725
11275`
60800
30750
3860
White spinning top
Macd : reversal
Falling window
Stoc osc : reversal
Stoc osc : reversal
2350 Morning star
BASIC & MISC INDUSTRY
ASII
Trading Buy
6875
6875
6950
6750
6800
6950
7100 Rsi : reversal
SMGR
Buy on Weakness
15300
15175
15450
15050
15175
15450
15600 Rsi : reversal
INTP
Trading Buy
23175
23175
23225
22700
22950
23225
23450 Morning star
INFRASTRUCTURE
TLKM
Trading Buy
2715
2715
2730
2650
2690
2730
2750 Stoc osc : reversal
PGAS
Trading Buy
6000
6000
6100
5850
5950
6100
6200 White spinning top
JSMR
Buy on Weakness
6400
6350
6450
6275
6350
6450
6550 Rsi : reversal
TBIG
Buy on Weakness
9000
8900
9100
8800
8900
9100
9250 Stoc osc : downtrend
MAPI
Trading Buy
5100
5100
5150
4950
5050
5150
5250 Stoc osc : golden cross
RALS
Buy on Weakness
830
820
835
810
820
835
ACES
Trading Buy
815
815
825
795
805
825
MPPA
Trading Sell
3085
3085
3050
3020
3050
3100
PTBA
Trading Buy
12875
12875
12925
12675
12800
12925
ADRO
Buy on Weakness
1090
1080
1110
1065
1080
1110
ITMG
Trading Buy
20075
20075
20150
19900
20000
20150
ANTM
Trading Sell
920
920
910
900
910
930
TINS
Buy on Weakness
1220
1210
1230
1185
1210
1230
UNTR
Buy on Weakness
19125
18950
19300
18800
18950
19300
RETAIL
845 Rsi : reversal
835 Macd : uptrend
3150 Black spinning top
MINING
13000 Rsi : uptrend
1125 Gravestone doji
20350 Rsi : uptrend
945 Macd : downtrend
1245 Doji
19450 Macd : uptrend
PROPERTY
ASRI
Buy on Weakness
448
445
452
442
445
452
456 Rsi : reversal
LPKR
Buy on Weakness
1030
1020
1040
1005
1020
1040
1060 Rsi : reversal
CTRA
Trading Buy
1150
1150
1165
1130
1145
1165
1175 Stoc osc : reversal
APLN
Trading Sell
327
327
324
321
324
330
SMRA
Trading Buy
1260
1260
1275
1235
1250
1275
1290 Rsi : uptrend
SSIA
Buy on Weakness
750
740
760
725
740
760
775 Rsi : uptrend
333 Macd : downtrend
BSDE
Buy on Weakness
1535
1520
1540
1500
1520
1540
WIKA
Trading Buy
2880
2880
2915
2815
2850
2915
2950 Morning star
PTPP
Trading Buy
2785
2785
2810
2740
2765
2810
2835 Rsi : uptrend
ADHI
Trading Buy
2580
2580
2615
2530
2565
2615
2650 Macd : reversal
See important disclaimer at the end of this report
1560 Inverted hammer
3
Wednesday, November 12, 2014
Global Equity Indices
Description
YTD Change %
LQ45
Nikkei 225
JCI
FTSE 100
ASX 200
DJIA
S&P500
STI
CAC 40
Shanghai Composite
DAX
KOSPI
Hang Seng
Euro Stoxx
12-Nov-14
20.8
6.4
17.7
(1.8)
2.4
6.3
10.4
3.9
(1.2)
16.7
(1.9)
(2.4)
2.2
(0.1)
Forward 2014 P/E Ratio (Best Est.)
859
17,333
5,032
6,627
5,480
17,615
2,040
3,292
4,244
2,470
9,369
1,963
23,808
3,105
16.2
19.2
16.5
13.9
15.3
15.5
17.0
14.3
14.7
10.1
13.1
10.8
11.0
14.2
Selected Indonesian Equities
Description
AALI
ADRO
AKRA
ANTM
ASII
ASRI
BBCA
BBNI
BBRI
BBTN
BDMN
BHIT
BKSL
BMRI
BMTR
BSDE
BUMI
BWPT
CPIN
EXCL
GGRM
GIAA
HRUM
YTD Change %
12-Nov-14
(6.0)
0.0
4.3
(15.6)
1.1
4.2
33.6
46.8
50.7
27.0
8.9
(5.0)
(44.6)
34.1
(5.8)
19.0
(60.7)
(62.4)
13.2
1.4
43.5
0.8
(46.5)
23,600
ICBP
1,090
IMAS
4,565
INCO
920
INDF
6,875
INDY
448
INTP
12,825
ITMG
5,800
JSMR
10,925
KLBF
1,105
LPKR
4,110
LSIP
323
MAIN
87
MAPI
10,525
MNCN
1,790
PGAS
1,535
PTBA
118
SMCB
500
SMGR
3,820
SSIA
5,275
TLKM
60,250
UNTR
500
UNVR
1,470 JAKPROP
INDEX
JAKBIND INDEX
YTD Change %
12-Nov-14
9.6
(26.5)
41.5
(1.1)
(0.8)
15.9
(29.6)
35.4
35.2
13.2
0.0
(28.2)
(7.3)
(7.0)
34.1
26.2
(0.2)
8.1
33.9
27.5
0.7
17.4
11,175
3,600
3,750
6,525
585
23,175
20,075
6,400
1,690
1,030
1,930
2,280
5,100
2,440
6,000
12,875
2,270
15,300
750
2,715
19,125
30,525
JAKFIN INDEX
Sectors
Description
Description
1-mth Return %
Property
Basic Industry
Trade
Finance
Miscellaneous Industry
Consumer
Infrastructure
Agriculture
Mining
See important disclaimer at the end of this report
5.9
2.1
1.5
4.3
0.1
4.0
(0.3)
6.0
(3.0)
JAKCONS INDEX
JAKMIND INDEX
JAKINFR INDEX
JAKAGRI INDEX
JAKMINE INDEX
4
Wednesday, November 12, 2014
Dividend
Ticker
Status
DPS
(IDR)
Cum Date
Ex Date
Recording
Payment
GMTD
Final
50
31 October 2014
3 Oktober 2014
6 Oktober 2014
19 November 2014
ISSP
Final
2
11 November 2014
4 November 2014
7 November 2014
20 November 2014
ADMF
Final
2700
11 November 2014
12 November 2014
14 November 2014
28 November 2014
MAIN
Final
20
11 November 2014
12 November 2014
14 November 2014
28 November 2014
BWPT
Final
6
13 November 2014
14 November 2014
18 November 2014
2 December 2014
SMSM
Final
60
24 November 2014
25 November 2014
27 November 2014
11 December 2014
Rights Issue
Ticker
NS:OS
Price
(Rp)
Cum Date
EX Date
AKKU
132:20
100
17 Oktober 2014
20 Oktober 2014
24 Oktober-30 Oktober
ARTI
4:1
117
6 November 2014
7 November 2014
13 November - 20 November
BWPT
6:1
390-411
17 November 2014
18 November 2014
24 November -28 November
BBRM
43:100
230
20 November 2014
21 November 2014
27 November-3 Desember
BPFI
7:10
500
26 November 2014
27 November 2014
3 Desember -7 Desember
BNII
1:9
221
5 December 2014
8 December 2014
12 December—18 December
MLBI
100:1
TBA
TBA
Trading (2014)
TBA
TBA
Upcoming IPO
Company
Business
Price (Rp)
PT Karisma Aksara Mediatama
Book Store
Trade & Services
175-240
535.82
TBA
TBA
BCA Sekuritas
Maybank Kim Eng
Shipping
Transportation
600-800
2,571.43
24 Nov-26 Nov
2 Dec
Mandiri Sekuritas
RHB OSK Securities
PT Soechi Lines
See important disclaimer at the end of this report
Issued
Shares
(Mn)
Offering date
(2014)
Listing
(2014)
Underwriter
5
Wednesday, November 12, 2014
Global Reference Rates
FOREX
%
Rate (USD) Change %
FED Rate
0.25
USDIDR
12,201
0.17
BI Rate
7.50
USDEUR
0.80
0.14
ECB Rate
0.05
USDJPY
116
(0.02)
BOJ Rate
0.10
USDSGD
1.29
(0.15)
BOE Rate
0.50
USDAUD
1.15
0.08
PBOC Rate
6.00
USDGBP
0.63
0.06
Description
Inflation YTD (%)
October
September
4.19
3.71
JIBOR (IDR) (%)
8.00
1.01
Lending & Deposit Rates
Inflation YOY (%)
4.83
4.53
LIBOR (GBP) (%)
Inflation MOM (%)
0.47
0.27
SIBOR (USD) (%)
1.46
111.97
111.16
INDOGB 5Y YIELD (%)
7.87
GDP YOY Growth Rate 3Q14 (%)
5.01
INDOGB 10Y YIELD (%)
8.01
GDP Growth Rate 2014 (%)
2.96
INDOGB 15Y YIELD (%)
8.36
Foreign Reserves (USD bn)
Dual Listed
MACRO INDICATORS
Price (IDR) Change %
TLKM (US)
2,672.02
(1.57)
ANTM (GR)
851.09
0.00
APBN-P 2014
APBN 2014
GDP Growth (%)
5.5
6.0
Inflation (%)
5.3
5.5
11.600
10,500
3 Months SPN (%)
6.0
5.5
Indonesian Crude Oil (USD/barrel)
105
105
Oil Lifting (barrel/day)
818,000
870,000
Gas Lifting (BOE/day)
1,224,000
1,240,000
1,635
1,667
Exchange rate (USD/IDR)
Total APBN (IDR tn)
DISCLAIMER
This material is issued by PT Sinarmas Sekuritas, a member of Indonesia Stock Exchanges, represent the opinion of PT Sinarmas Sekuritas,
derived its judgment from sources deemed reliable, however, PT Sinarmas Sekuritas and its affiliated cannot guarantee its accuracy and
completeness. PT Sinarmas Sekuritas or its affiliates may be involved in transactions contrary to any opinion herein or have positions in the
securities recommended herein and may seek or will seek investment banking or other business relationships with the companies in this
material. PT Sinarmas Sekuritas, its employees and its affiliates, expressly disclaim any and all liability for representation or warranties,
expressed or implied, here in or omission there from or for any loss how so ever arising from any use of this material or its contents or
otherwise arising in connection there with. Opinion expressed in this material are our present view and are subject to change without notice.
6

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