View
221
Download
0
Category
Preview:
Citation preview
www.oso-securities.com Disclaimer on.
OSODaily 02 Agustus 2019
ODAY TOP STOCK TRADED (LQ45) JAKARTA COMPOSITE INDEX
6,381.54 (8.96)
-0.14%
Previous 6,390.51 Lowest
6,372.71 Highest 6,404.58 Val IDR bn
9.824
Volbn 15.484 Mkt Cap IDRtr
7,318.69 Net Forg 1DIDRbn 43.50 Net ForgYTDIDRbn
68,169.27
Return YTD (%) 3.02 Month to date (%)
(0.14)
Indices
Last Chg% YTD% Americas
Dow Jones United States 26,583.42 (1.05) 13.96 S&P 500 United States 2,953.56 (0.90) 17.82 Nasdaq United States 8,111.12 (0.79) 22.24 EIDO United States 25.34 (1.48) 2.10 EMEA
FTSE 100 United Kingdom 7,584.87 (0.03) 12.73
CAC 40 France 5,557.41 0.70 17.48 D DAX Germany 12,253.15 0.53 16.05
Asia Pacific
Nikkei Japanese 21,540.99 (1.84) 5.64 Shanghai China 2,932.51 (0.81) 16.64 TWSE Taiwan 10,823.81 (0.85) 10.32 KOSPI Korea 2,017.34 (1.02) (2.17) KLSE Malaysia 1,634.87 0.26 (3.05) ST – Times Singapore 3,300.75 (0.27) 7.27 Sensex India 37,481.12 (1.23) 2.63 Hangseng Hongkong 27,777.75 (0.76) 6.65
Sectoral Previous Last Chg% YTD% AGRICULTURE 1,360.10 1,354.39 (0.42) (13.43) MINING 1,635.93 1,624.28 (0.71) (8.57) MISC INDUSTRY 1,239.97 1,242.74 0.22 (10.88) BASIC INDUSTRY 837.37 839.05 0.20 (1.84) CONSUMER GOODS 2,355.42 2,387.44 1.36 (7.08) PROPERTY 498.86 492.45 (1.29) 9.98 INFRASTRUKTUR 1,206.10 1,203.51 (0.21) 13.08 FINANCE 1,323.97 1,316.99 (0.53) 12.02 MANUFAKTURE 1,502.85 1,515.79 0.86 (6.32) TRADE 817.37 809.88 (0.92) 3.32 LQ 45 1,022.43 1,016.75 (0.56) 3.46
Commodities Previous Lastest Chg% YTD% Oil (USD/bbl) 58.58 53.95 (7.90) 20.04 Nickel (USD/mt. ton) 14,360.00 14,490.00 0.91 36.53 Tins (USD/mt. ton) 17,450.00 17,315.00 (0.77) (11.04) Gold (USD tr.oz) 1,413.90 1,445.20 2.21 12.23 Copper (USD/mt.ton) 5,948.00 5,927.00 (0.35) (1.11) CPO (MYR/ton) 2,008.00 2,019.00 0.55 0.55 Coal (USD/ton) 69.55 69.35 (0.29) (28.98)
Currencies
Last Chg% YTD% IDR / USD
14,116.00 (0.62) 1.94
IDR / AUD
9,674.10 (0.11) 5.08 IDR / EUR
15,594.51 0.24 5.46
IDR /SGD
10,264.04 (0.27) 2.84 IDR / JPY
129.41 (0.19) 0.94
IDR / GBP
17,100.58 (0.18) 7.12 Global Macro Economics CB Rate CPI YoY GDP YoY United States 2.25 1.60 2.30 Euro Area 0.00 1.10 1.10 United Kingdom 0.75 2.00 1.80 Japan 0.10 0.70 0.90 China 4.35 2.70 6.20 Domestic macro Economics Lastest Chg% YTD% Jibor 5.00 (15.02) 28.20 GovBonds (5y) 6.93 1.27 (12.38) GovBonds (10y) 7.48 1.46 (6.74)
Inflasi YoY 3.32
Inflasi MoM 0.31 Bi rate 5.75 GDP Growth YoY (%) 5.07
Foreign Reserve (Bn) 123.82 Government Bonds Yield% Wow% Ytd% 7 Year 7.32 7.32 7.32 15 Year 7.80 7.80 7.80 20 Year 7.95 7.95 7.95 30 Year 8.06 8.06 8.06
Source: Bloomberg LP & OSO Research Team
Market Review Pada perdagangan Kamis (01/08) IHSG ditutup melemah sebesar 0.14% ke level 6.381.54. Enam dari sepuluh indeks sektoral berakhir dalam zona merah, dimana sektor Properti dan Perdagangan memimpin pelemahan masing-masing sebesar 1.29% dan 0.92%. Adapun saham yang menjadi pemberat indeks diantaranya ; BMRI, BBNI, BBRI, AMRT, CPIN. Pelaku pasar asing membukukan aksi beli bersih (Netbuy) senilai Rp 43 miliar. Nilai tukar rupiah terdepresiasi sebesar 0.62% ke level 14.116.
Global Review Pada perdagangan semalam (01/08) bursa saham Wall Street kompak ditutup dalam teritori negatif, dimana Dow Jones turun lebih dari 1%, sedangkan S&P 500 dan Nasdaq melemah masing-masing sebesar 0.90% dan 0.79%. Pelemahan tersebut dipicu oleh komentar presiden Amerika Serikat (AS) terkait perang dagang China-AS. Melalui Twitter Donald Trump menyatakan akan kembali memberlakukan tambahan tarif sebesar 10% menjadi senilai US$ 300 miliar untuk produk China. Pernyataan tersebut langsung direspon negatif oleh pasar mereka memperkirakan hubungan diantara keduanya akan kembali memanas ditengah perundingan yang tidak menemui kesepakatan.
JCI Prediction IHSG ditutup melemah sebesar 0.14% ke level 6.381. IHSG ditutup beariish candle, tidak mampu tutup di atas resistance. Adapun indikator Stochastic bullish dan MACD histogram bergerak ke arah positif dengan Volume turun. Kami perkirakan IHSG kembali melemah dengan pergerakan di kisaran 6.324 – 6.404.
Major Economic Release
Markit Manufacturing Indonesia bulan Juli turun
ke level 49.6 dari sebelumnya di level 50.6.
Jibun Bank Manufacturing Japan pada Juli 2019
naik ke level 49.4 dari sebelumnya di level 49.3.
Inflation Rate Indonesia bulan Juli tercatat
sebesar 0.31% lebih rendah dibandingkan
sebelumnya sebesar 0.55% (Mom).
BoE Interest Rate Decision United Kingdom
bertahan di level 0.75%.
Markit Manufacturing United States bulan Juli
turun ke level 50.4 dari sebelumnya di level 50.6.
www.oso-securities.com Disclaimer on.
OSODaily 02 Agustus 2019
TODAY TOP STOCK TRADED (LQ45)
Top Gainers
Last Chg% YTD% MC (T) Beta
UNVR IJ Equity
45,550 4.47 0.33 347.55 1.07
TPIA IJ Equity
6,550 4.38 10.55 116.81 0.72
INDF IJ Equity
7,225 2.12 (3.02) 63.44 1.29
INDY IJ Equity
1,510 1.68 (4.73) 7.87 1.47
EXCL IJ Equity
3,280 1.55 65.66 35.06 1.16
Top Losers
Last Chg% YTD% MC (T) Beta
PTPP IJ Equity
1,985 (7.67) 9.97 12.31 1.85
WSKT IJ Equity
1,930 (5.85) 14.88 26.20 1.64
ERAA IJ Equity
1,990 (5.24) (9.55) 6.35 0.88
SCMA IJ Equity
1,470 (5.16) (21.39) 21.71 1.38
LPPF IJ Equity
3,540 (5.09) (36.79) 9.93 0.77
Top Volume
Last Volume (Mn) YTD% MC (T) Beta
SRIL IJ Equity
344 204.7 (3.9) 7.04 0.61
BBRI IJ Equity
4,450 143.6 21.6 548.89 1.60
HMSP IJ Equity
3,040 104.9 (18.1) 353.61 1.27
TLKM IJ Equity
4,280 94.9 15.7 423.99 0.79
PWON IJ Equity
710 74.9 14.5 34.19 1.42
Top Value
Last Value (Bn) YTD% MC (T) Beta
TLKM IJ Equity
4,280 752.2 15.7 423.99 0.79
HMSP IJ Equity
3,040 516.2 (18.1) 353.61 1.27
BBRI IJ Equity
4,450 471.0 21.6 548.89 1.60
ASII IJ Equity
7,025 432.1 (14.6) 284.40 1.27
BBCA IJ Equity
31,050 398.2 19.4 765.54 1.01
BENCHMARK INDICES COMPARISON Indices Country Latest P/E PBV Target 2019F Asia Pacific
IHSG
Indonesia 6,382 19.76 2.18 7,100
Nikkei
Japanese 21,541 16.44 1.64 24,187
Shanghai
China 2,909 14.11 1.45 3,306
TWSE
Taiwan 10,732 16.58 1.60 18,720
KOSPI
Korea 2,017 12.42 0.81 2,615
KLSE
Malaysia 1,639 20.76 1.67 1,734
ST - Times
Singapore 3,292 13.39 1.11 3,617
Sensex
India 36,834 25.95 2.91 43,155
Hangseng
Hongkong 27,566 10.80 1.22 33,061
JAKARTA COMPOSITE INDEX MOVERS
Movers
Latest Chg% YTD% MC (T) Beta
UNVR IJ Equity
45550 4.47 0.33 348 1.07
TPIA IJ Equity
6550 4.38 10.55 117 0.74
BBCA IJ Equity
31050 0.32 19.42 766 1.00
BTPS IJ Equity
3460 9.15 92.76 27 0.49
BTPN IJ Equity
3250 (1.81) (5.52) 26 0.24
Laggard
Latest Chg% YTD% MC (T) Beta
BMRI IJ Equity
7775 (2.51) 5.42 363 1.51
BBNI IJ Equity
8250 (2.65) (6.25) 154 1.59
BBRI IJ Equity
4450 (0.67) 21.58 549 1.60
AMRT IJ Equity
900 (6.25) (3.74) 37 (0.07)
CPIN IJ Equity
5250 (2.33) (27.34) 86 1.55
Movers
Latest Chg% YTD% MC (T) Beta
OSO MANAJEMEN INVESTASI
Mutual Fund Latest 1 Month (%)
Oso Sustainability Fund
1,500.51 (1.09) Oso Syariah Equity Fund
1,386.40 2.92
Source: Bloomberg LP & OSO Research Team
www.oso-securities.com Disclaimer on.
OSODaily 02 Agustus 2019
COMPARATION OF JCI PERFORMANCE (SEAG)
www.oso-securities.com Disclaimer on.
OSODaily 05 April 2019
OSODaily 02 Agustus 2019
MACRO ECONOMIC & INDUSTRY NEWS
Badan Pusat Statistik (BPS) mencatat inflasi Juli 2019 sebesar 3,32% secara tahunan (yoy). Angka ini naik tipis
dibanding pencapaian Juli sebesar 3,28% yoy. Di sisi lain, secara bulanan (mom) inflasi Juli tercatat 0,31%, atau
lebih rendah daripada bulan sebelumnya di level 0,55%. Adapun komponen penyumbang inflasi berdasarkan
kelompok pengeluaran antara lain.
Badan Pusat Statistik (BPS) mencatat pertumbuhan produksi industri manufaktur besar dan sedang (IBS) pada
kuartal II-2019 tumbuh sebesar 3,62% year on year (yoy). Pertumbuhan tersebut akibat kontribusi kenaikan
produksi industri pakaian jadi sebesar 25,79%.
BPS mencatat daya beli petani (NTP) nasional naik 0,29% (MoM), yaitu dari 102,33 menjadi 102,63 pada Juli.
Kenaikan NTP Juli 2019 disebabkan kenaikan indeks harga yang diterima petani (lt) lebih besar dari indeks harga
barang yang dibayarkan petani (lb). Perbandingan kenaikan lt dan lb adalah sebesar 0,70% : 0,40%.
CORPORATES NEWS
PT Dharma Satya Nusantara Tbk (DSNG) masih mampu membukukan laba operasi pada semester I 2019 sebesar
Rp 330 miliar, laba operasi hanya turun sekitar 4% dibandingkan periode yang sama tahun lalu sebesar Rp 342
miliar, meskipun rata-rata harga penjualan CPO Perseroan selama enam bulan pertama tahun ini telah turun 18%
dari Rp 7,8 juta per ton pada semester I tahun lalu menjadi Rp 6,4 juta per ton pada semester pertama tahun ini.
PT Bank QNB Indonesia Tbk (BKSW) masih menanggung kerugian sepanjang paruh pertama 2019. Namun,
kerugian yang dialami bank ini sudah mengempis jika dibanding periode yang sama tahun sebelumnya. Perseroan
menorehkan rugi tahun berjalan sebesar Rp 52,98 miliar semester I 2019 yang sudah turun tajam jika dibanding
paruh pertama 2018 yang membukukan rugi Rp 95,5 miliar.
PT Bank Ina Perdana Tbk (BINA) berhasil mencatatkan kinerja keuangan positif sepanjang semester I 2019. Laba
bersih perseroan tercatat mengalami pertumbuhan sebesar 12,1% secara year on year (yoy). Perseroan tercatat
membukukan laba bersih Rp 3,51 miliar per Juni 2019. Sementara net profit yang dikantongi pada periode yang
sama tahun sebelum hanya Rp 3,13 miliar.
PT Semen Indonesia Tbk (SMGR) masih menunjukkan kinerja yang prima di separuh pertama 2019. SMGR
mencatatkan laba bersih sebesar Rp 484,78 miliar tetapi menurun 50,09% dari tahun sebelumnya yang mencapai
Rp 971,34 miliar. Laba bersih SMGR merosot di tengah kenaikan pendapatan disebabkan oleh lonjakan beban
keuangan yang mencapai Rp 1,50 triliun.
PT Jaya Konstruksi Manggala Pratama Tbk (JKON) masih merugi di sepanjang semester I 2019, walau mengalami
peningkatan pendapatan sebesar 24,62% pada semester I 2019. Namun, karena adanya penundaan beberapa
proyek karena gelaran Pemilu 2019, JKON harus mengantongi rugi periode berjalan yang diatribusikan kepada
entitas induk senilai Rp 19,76 miliar.
PT Surya Citra Media Tbk (SCMA) mencatatkan penurunan laba bersih sebesar 7,34% atau Rp 782,48 miliar di
semester pertama 2019. Pada periode yang sama tahun lalu, SCMA meraup laba Rp 844,47 miliar. Salah satu
penyebab turunnya laba adalah beban usaha yang naik 17,42% atau Rp 604,48 miliar dibandingkan periode yang
sama tahun sebelumnya sebesar Rp 514,76 miliar.
Sumber: Kontan, Bisnis Indonesia, Iqplus
NOTE: Positive Sentiment Negative Sentiment Netral
www.oso-securities.com Disclaimer on.
OSODaily 08 April 2019
OSODaily 02 Agustus 2019
Technical
Medium/Minor trend : Uptrend MACD line/histogram : Ke Arah Positif Stochastic : Golden Cross Volume : Meningkat
Recommendation : BUY Entry Buy : 3.360 – 3.420 Target Price : 3.530 – 3.590 Support : 3.360 – 3.380 Cutloss : 3.350
DAILY TECHNICAL
BUY |BTPS |PE : 23.07x | PBV : 6.22x | ROE: 26.93% | NPM : 29.51% | DER : 1.92x | Fair Value : 3.500|
PT Bank Tabungan Pensiunan Nasional Syariah Tbk (BTPS) mencatat laba bersih menjadi Rp610 miliar per 30 Juni 2019 atau naik 36% dari Rp449 miliar pada periode yang sama tahun 2018. Sementara untuk pembiayaan mengalami kenaikan 24% menjadi Rp8,5 triliun dari Rp6,8 triliun. Pertumbuhan ini sejalan dengan kualitas kredit yang terjaga pada tingkat rasio pembiayaan bermasalah atau Non Performing Financing (NPF) sebesar 1,34% dari 1,6%. Sementara untuk total aset perseroan naik 30% menjadi Rp13,9 triliun dari Rp10,7 triliun. Sedangkan untuk total Dana Pihak Ketiga (DPK) naik 27% menjadi Rp7,02 triliun. Untuk posisi CAR di posisi 39,4%.
Souce: OSO Research Team
Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 3.530. Apabila berhasil menguji 3.530 next harga ke level 3.590. Hati-hati jika harga tidak mampu break up atau berbalik menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 3.350 jika sudah melewati support 3.360 – 3.380.
NOTE:
www.oso-securities.com Disclaimer on.
OSODaily 08 April 2019
OSODaily 02 Agustus 2019
Technical
Medium/Minor trend : Uptrend MACD line/histogram : Ke Arah Positif Stochastic : Golden Cross Volume : Meningkat
Recommendation : BUY Entry Buy : 620 – 630 Target Price : 650 – 665 Support : 600 – 610 Cutloss : 595
DAILY TECHNICAL
Semester pertama 2019, PT KMI Wire and Cable Tbk (KBLI) membukukan penjualan Rp1,87 triliun naik 16,32% dibandingkan dengan penjualan pada periode yang sama tahun lalu sebesar Rp1,61 triliun. Penjualan berasal dari pasar domestik sebesar Rp1,73 triliun, diikuti kontrak konstruksi Rp80,98 miliar. Juga ke pihak berelasi PT Gajah Tunggal Tbk. Rp39,29 miliar dan ekspor Rp19,26 miliar. Produsen kabel ini mampu menjaga kenaikan beban pokok penjualan sebesar 7,17% menjadi Rp1,54 triliun. KBLI terbantu oleh mega proyek pengadaan kapasitas pembangkit listrik sebesar 35.000 MW oleh pemerintah. Proyek ini tentu dapat mendatangkan banyak permintaan kabel produksi KBLI. Disamping itu juga harga komoditas tembaga sebagai bahan baku kabel dakam tren penurunan yang artinya biaya bahan baku turun.
Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 650. Apabila break 650 next harga ke level 665. Hati-hati jika harga tidak mampu break up atau menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 595 jika sudah melewati support 600 – 610.
|KBLI|PE : 7.10x | PBV : 1.16x | ROE: 16.39% | NPM : 9.45% | DER : 0.42x | Fair Value : 750|
Souce: OSO Research Team
BUY
NOTE:
www.oso-securities.com Disclaimer on.
OSODaily 08 April 2019
OSODaily 02 Agustus 2019
Technical
Medium/Minor trend : Uptrend MACD line/histogram : Positif Stochastic : Bullish Volume : Meningkat
Recommendation : BUY Entry Buy : 1.475 – 1.500 Target Price : 1.540 – 1.560 Support : 1.460 – 1.475 Cutloss : 1.455
DAILY TECHNICAL
BUY |PNBN|PE : 11.36x | PBV : 0.85x | ROE: 7.54% | NPM : 16.09% | DER : 4.05x | Fair Value : 1.700|
PNBN Cetak Laba Bersih Sebesar Rp1,68 Triliun Bank Panin Tbk (PNBN) membukukan laba semester I 2019 sebesar Rp1,68 triliun atau naik 23,86% YoY. Pertumbuhan laba tersebut terutama ditopang oleh pendapatan bunga bersih perseroan Rp4,35 triliun, dan pendapatan operasional termasuk pendapatan komisi yang mencapai Rp1,1 triliun. Penyaluran kredit per Juni 2019 tercatat sebesar Rp153,50 triliun, tumbuh 3,74% YoY. Dari total kredit tersebut porsi segmen ritel dan segmen komersial mencapai 56% dari total kredit, sedangkan sisanya berasal dari kredit ke korporasi. Rasio Non Performing Loan (NPL) per Juni 2019 tercatat sebesar 3,0% (gross) dan 0,96% (net).
Souce: OSO Research Team
Harga ditutup bullish candle dan menguji resistance. Harga berpeluang menguji level 1.540. Apabila break 1.540 next harga ke level 1.560. Hati-hati jika harga tidak mampu tembus 1.540 atau malah berbailk menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 1.455 jika sudah melewati support 1.460 – 1.475.
NOTE:
www.oso-securities.com Disclaimer on.
OSODaily 08 April 2019
OSODaily 02 Agustus 2019
Sector Rotation
Mingguan
Bulanan
www.oso-securities.com Disclaimer on.
OSODaily 02 Agustus 2019
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 3,880 (0.77) 61.09 4.09 60.21 5.56 1.13 5.21 98.23 3,100 -20% Sell
CPIN IJ Equity 5,375 (2.33) (27.34) 4.49 22.39 13.84 13.99 21.19 22.95 4,615 -14% Sell
INKP IJ Equity 7,475 (0.67) (35.71) 0.75 7.34 2.61 6.03 14.02 113.83 11,300 51% Buy
INTP IJ Equity 22,475 (0.33) 21.41 3.78 57.63 31.02 5.47 6.48 0.50 19,015 -15% Sell
SMGR IJ Equity 12,875 1.36 13.48 2.56 29.87 10.97 4.11 8.74 30.13 13,503 5% Hold
TKIM IJ Equity 12,000 (3.75) 4.05 1.99 12.59 18.97 8.79 21.17 120.71 13,000 8% Buy
TPIA IJ Equity 6,275 4.38 10.55 4.64 65.56 21.60 4.18 7.14 34.35 4,568 -27% Sell
WSBP IJ Equity 364 1.10 (2.13) 1.10 12.11 5.87 6.05 11.05 69.31 500 37% Buy
Industry Average in LQ45 2.92 33.46 13.80 6.22 11.87 61.25
Total of Industry Average 1.69 24.33 11.50 2.92 4.15 101.08
SECTOR CONSUMER GOODS
GGRM IJ Equity 75,500 (1.16) (10.76) 3.23 16.86 9.94 12.84 20.01 38.38 93,258 24% Buy
HMSP IJ Equity 3,030 0.33 (18.06) 12.41 24.96 18.79 32.64 50.51 0.33 3,705 22% Buy
ICBP IJ Equity 10,700 - 2.39 5.48 25.66 15.28 13.48 22.92 9.06 11,231 5% Hold
INDF IJ Equity 7,075 2.12 (3.02) 1.81 13.33 5.21 4.98 14.36 59.18 8,023 13% Buy
KLBF IJ Equity 1,470 1.02 (2.30) 4.75 27.85 18.49 13.62 17.85 2.34 1,526 4% Hold
UNVR IJ Equity 43,600 4.47 0.33 68.48 37.47 25.98 43.81 183.94 20.26 45,477 4% Hold
Industry Average in LQ45 16.03 24.35 15.62 20.23 51.60 21.59
Total of Industry Average 6.50 25.70 18.98 8.80 19.52 46.26
SECTOR INFRASTRUCTURE
EXCL IJ Equity 3,230 1.55 65.66 1.88 130.48 3.64 (5.11) (14.59) 125.77 3,600 11% Buy
JSMR IJ Equity 6,000 (2.08) 37.27 2.41 19.24 6.36 2.50 13.33 157.26 6,407 7% Hold
PGAS IJ Equity 2,050 (2.44) (5.66) 1.30 11.84 2.44 4.15 9.84 109.43 2,635 29% Buy
TLKM IJ Equity 4,300 (0.47) 15.75 4.51 20.77 6.47 9.77 22.82 37.58 4,481 4% Hold
Industry Average in LQ45 2.53 45.58 4.73 2.83 7.85 107.51
Total of Industry Average 2.94 38.50 164.04 (3.88) (2.25) 130.89
Source: Bloomber LP
www.oso-securities.com Disclaimer on.
OSODaily 02 Agustus 2019
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 1,270 (3.54) 0.82 0.74 6.00 2.17 6.70 12.63 32.95 1,661 31% Buy
AKRA IJ Equity 4,000 - (6.76) 1.94 22.12 12.68 4.78 11.01 42.61 5,433 36% Buy
ANTM IJ Equity 935 (1.07) 20.92 1.12 27.77 8.12 2.47 4.14 50.26 1,094 17% Buy
ELSA IJ Equity 360 (2.22) 2.33 0.76 8.47 3.09 5.36 9.30 24.89 #N/A N/A #VALUE! #VALUE!
INCO IJ Equity 3,030 (2.97) (9.82) 1.11 61.14 12.22 1.56 1.82 1.94 3,894 29% Buy
INDY IJ Equity 1,485 1.68 (4.73) 0.61 34.42 1.16 0.46 1.74 129.53 2,125 43% Buy
ITMG IJ Equity 16,825 0.15 (16.79) 1.53 5.37 2.89 17.14 28.17 - 21,434 27% Buy
MEDC IJ Equity 850 (4.12) 18.98 0.82 9.06 1.69 (0.88) (3.52) 202.38 1,078 27% Buy
PTBA IJ Equity 2,740 (0.36) (36.51) 1.66 6.11 4.39 19.44 29.25 5.12 3,708 35% Buy
Industry Average in LQ45 1.14 20.05 5.38 6.34 10.50 54.41
Total of Industry Average 2.31 19.22 104.49 3.80 4.13 94.98
SECTOR MISC INDUSTRY
ASII IJ Equity 7,000 0.36 (14.59) 2.01 13.48 7.41 6.60 16.18 49.27 8,307 19% Buy
SRIL IJ Equity 350 (1.71) (3.91) 0.87 5.39 2.37 6.72 17.23 139.64 Neutral #VALUE! #VALUE!
Industry Average in LQ45 1.44 9.43 4.89 6.66 16.71 94.46
Total of Industry Average 2.73 402.23 5.83 2.99 (4.93) 94.73
SECTOR PROPERTY
ADHI IJ Equity 1,485 (1.68) (7.89) 0.82 8.04 2.78 2.23 10.51 136.09 2,007 35% Buy
BSDE IJ Equity 1,420 (2.46) 10.36 0.98 17.52 9.96 2.98 5.72 46.06 1,666 17% Buy
PTPP IJ Equity 2,150 (7.67) 9.97 0.95 8.90 4.08 3.22 12.42 74.03 2,703 26% Buy
PWON IJ Equity 735 (3.40) 14.52 2.51 12.31 9.11 11.10 22.42 36.44 768 4% Hold
WIKA IJ Equity 2,340 - 41.39 1.37 9.96 5.11 3.70 14.89 78.93 2,758 18% Buy
WSKT IJ Equity 2,050 (5.85) 14.88 1.45 13.29 5.19 1.58 11.35 224.10 2,290 12% Buy
Industry Average in LQ45 1.35 11.67 6.04 4.14 12.89 99.28
Total of Industry Average 2.47 29.83 13.98 4.50 9.68 47.63
Source: Bloomber LP
www.oso-securities.com Disclaimer on.
OSODaily 02 Agustus 2019
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 2,100 (5.24) (9.55) 1.22 12.37 4.40 6.01 16.15 88.81 1,790 -15% Sell
LPPF IJ Equity 3,730 (5.09) (36.79) 5.49 11.03 5.91 15.33 45.23 - 4,986 34% Buy
MNCN IJ Equity 1,375 1.09 101.45 1.63 8.44 4.90 12.35 20.53 42.22 1,434 4% Hold
SCMA IJ Equity 1,550 (5.16) (21.39) 4.33 15.11 10.93 20.52 29.07 0.33 2,137 38% Buy
UNTR IJ Equity 24,925 (1.91) (10.60) 1.66 8.13 3.64 10.84 21.57 17.95 33,519 34% Buy
Industry Average in LQ45 2.87 11.01 5.96 13.01 26.51 29.86
Total of Industry Average 6.80 32.53 22.13 0.68 2.49 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 30,950 0.32 19.42 4.80 28.04 88.15 1.40 6.53 6.30 30,304 -2% Sell
BBRI IJ Equity 4,480 (0.67) 21.58 2.82 16.43 90.10 2.27 7.34 64.57 4,689 5% Hold
BBNI IJ Equity 8,475 (2.65) (6.25) 1.35 10.11 92.85 1.90 5.14 82.33 10,144 20% Buy
BBTN IJ Equity 2,460 (2.44) (5.51) 1.04 8.94 103.45 2.82 4.00 188.00 2,731 11% Buy
BMRI IJ Equity 7,975 (2.51) 5.42 1.95 13.76 100.47 2.75 5.36 56.75 8,867 11% Buy
Industry Average in LQ45 2.39 15.46 95.00 2.23 5.68 79.59
Total of Industry Average 2.17 30.04 110.09 3.03 7.61 84.38
Source: Bloomber LP
www.oso-securities.com Disclaimer on.
OSODaily 02 Agustus 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
ADHI IJ Equity 1,460 (7.9) Positif Trading Negatif 1,470 1,575 1,685 1,495 1,460 1,445 1,510 1,545 1,420 Hold
ADRO IJ Equity 1,225 0.8 Positif Trading Negatif 1,205 1,310 1,410 1,265 1,240 1,240 1,265 1,290 1,220 Hold
AKRA IJ Equity 4,000 (6.8) Positif Oversold Negatif 3,905 4,160 4,415 3,960 3,905 3,860 4,005 4,060 3,800 Speculative Buy
ANTM IJ Equity 925 20.9 Positif OverBought Negatif 780 885 985 935 925 915 945 955 900 Sell
ASII IJ Equity 7,025 (14.6) Positif Trading Negatif 6,975 7,250 7,525 7,100 7,000 6,900 7,200 7,300 6,800 Hold
BBCA IJ Equity 31,050 19.4 Positif OverBought Negatif 29,400 30,550 31,700 31,025 30,850 30,725 31,150 31,325 30,275 Sell
BBNI IJ Equity 8,250 (6.3) Positif Oversold Negatif 8,250 8,900 9,575 8,350 8,225 8,125 8,450 8,575 8,000 Speculative Buy
BBRI IJ Equity 4,450 21.6 Negatif OverBought Negatif 4,370 4,465 4,560 4,480 4,445 4,420 4,505 4,540 4,350 Strong Sell
BBTN IJ Equity 2,400 (5.5) Positif Trading Negatif 2,395 2,435 2,475 2,435 2,405 2,395 2,445 2,475 2,355 Hold
BMRI IJ Equity 7,775 5.4 Negatif Trading Negatif 7,650 7,900 8,150 7,850 7,750 7,675 7,925 8,025 7,575 Sell
BRPT IJ Equity 3,850 61.1 Positif Trading Negatif 3,265 3,605 3,945 3,745 3,580 3,445 3,880 4,045 3,395 Hold
BSDE IJ Equity 1,385 10.4 Positif Trading Negatif 1,365 1,470 1,570 1,425 1,395 1,375 1,445 1,475 1,355 Hold
CPIN IJ Equity 5,250 (27.3) Positif Trading Negatif 4,945 5,350 5,750 5,275 5,100 4,925 5,450 5,625 4,850 Hold
ELSA IJ Equity 352 2.3 Positif Trading Negatif 344 366 388 356 347 342 361 370 336 Hold
ERAA IJ Equity 1,990 (9.5) Negatif Trading Negatif 1,835 1,990 2,150 2,015 1,900 1,840 2,075 2,190 1,810 Sell
EXCL IJ Equity 3,280 65.7 Negatif OverBought Positif 2,725 3,025 3,320 3,305 3,250 3,165 3,390 3,445 3,120 Sell
GGRM IJ Equity 74,625 (10.8) Positif Oversold Negatif 73,650 76,800 79,975 75,075 73,650 73,150 75,575 77,000 72,050 Speculative Buy
HMSP IJ Equity 3,040 (18.1) Positif Trading Negatif 2,870 3,070 3,265 2,990 2,915 2,850 3,055 3,130 2,805 Hold
ICBP IJ Equity 10,700 2.4 Negatif OverBought Negatif 9,900 10,425 10,950 10,675 10,650 10,550 10,775 10,800 10,400 Strong Sell
INCO IJ Equity 2,940 (9.8) Positif Trading Negatif 2,840 3,005 3,165 3,000 2,950 2,940 3,010 3,060 2,895 Hold
INDF IJ Equity 7,225 (3.0) Positif Trading Negatif 6,725 6,925 7,150 7,050 6,950 6,825 7,175 7,275 6,700 Hold
INDY IJ Equity 1,510 (4.7) Positif Trading Negatif 1,500 1,650 1,805 1,500 1,475 1,425 1,550 1,575 1,400 Hold
INKP IJ Equity 7,425 (35.7) Positif Trading Negatif 7,250 8,175 9,100 7,500 7,375 7,225 7,650 7,775 7,100 Hold
source: Bloomberg Lp
www.oso-securities.com Disclaimer on.
OSODaily 02 Agustus 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 22,400 21.4 Negatif Trading Positif 20,800 21,850 22,875 22,175 21,850 20,975 23,050 23,375 20,650 Hold
ITMG IJ Equity 16,850 (16.8) Positif Oversold Negatif 16,725 17,225 17,700 16,825 16,800 16,750 16,875 16,900 16,500 Speculative Buy
JSMR IJ Equity 5,875 37.3 Positif Trading Negatif 5,475 5,850 6,225 5,900 5,800 5,675 6,025 6,125 5,600 Hold
KLBF IJ Equity 1,485 (2.3) Negatif Trading Negatif 1,405 1,450 1,500 1,470 1,460 1,430 1,500 1,510 1,405 Sell
LPPF IJ Equity 3,540 (36.8) Positif OverBought Positif 2,995 3,425 3,850 3,715 3,580 3,495 3,800 3,935 3,445 Hold
MEDC IJ Equity 815 19.0 Positif Trading Positif 790 835 875 855 830 830 855 880 815 Speculative Buy
MNCN IJ Equity 1,390 101.4 Negatif OverBought Negatif 1,195 1,360 1,525 1,390 1,380 1,355 1,415 1,425 1,335 Strong Sell
PGAS IJ Equity 2,000 (5.7) Positif Trading Negatif 1,970 2,065 2,165 2,015 1,960 1,925 2,050 2,105 1,895 Hold
PTBA IJ Equity 2,730 (36.5) Positif Oversold Negatif 2,675 2,870 3,065 2,720 2,695 2,680 2,735 2,760 2,635 Speculative Buy
PTPP IJ Equity 1,985 10.0 Positif Trading Negatif 2,040 2,145 2,245 2,090 2,030 2,020 2,100 2,160 1,990 Hold
PWON IJ Equity 710 14.5 Negatif Trading Negatif 670 715 760 730 715 705 740 755 695 Sell
SCMA IJ Equity 1,470 (21.4) Negatif Oversold Negatif 1,375 1,515 1,650 1,470 1,385 1,340 1,515 1,600 1,320 Speculative Buy
SMGR IJ Equity 13,050 13.5 Negatif Trading Negatif 12,275 12,500 12,725 12,625 12,300 11,850 13,075 13,400 11,675 Sell
SRIL IJ Equity 344 (3.9) Positif Trading Negatif 329 346 362 346 341 338 349 354 332 Hold
TKIM IJ Equity 11,550 4.1 Positif Trading Negatif 11,525 12,375 13,200 11,600 11,150 10,825 11,925 12,375 10,675 Hold
TLKM IJ Equity 4,280 15.7 Negatif Trading Negatif 4,160 4,245 4,330 4,260 4,215 4,170 4,305 4,350 4,105 Sell
TPIA IJ Equity 6,550 10.5 Negatif Strong Sell Positif 4,165 5,325 6,475 6,300 6,325 6,175 6,450 6,425 6,100 Sell
UNTR IJ Equity 24,450 (10.6) Positif Oversold Negatif 25,775 27,325 28,875 25,025 24,675 24,525 25,175 25,525 24,150 Speculative Buy
UNVR IJ Equity 45,550 0.3 Positif Oversold Negatif 43,500 44,850 46,200 43,725 43,775 42,725 44,775 44,725 42,075 Speculative Buy
WIKA IJ Equity 2,340 41.4 Positif Trading Negatif 2,295 2,390 2,485 2,380 2,330 2,280 2,430 2,480 2,245 Hold
WSBP IJ Equity 368 (2.1) Positif Oversold Negatif 371 404 438 374 365 356 383 392 350 Speculative Buy
WSKT IJ Equity 1,930 14.9 Positif Trading Negatif 1,915 2,060 2,200 2,020 1,965 1,935 2,050 2,105 1,905 Hold
source: Bloomberg Lp
www.oso-securities.com Disclaimer on.
OSODaily 02 Agustus 2019
MAJOR ECONOMIC RELEASE CALENDAR
Date Event Country Act Prev Cons
1-Aug-19 Japan, Foreign Exchange Reserves JUL JPY ¥-162.2B $1029B Indonesia, Markit Manufacturing PMI JUL IDN 49.6 50.6
Indonesia, Inflation Rate YoY JUL IDN 3.32% 3.28% 3.18%
Indonesia, Inflation Rate MoM JUL IDN 0.31% 0.55% 0.46%
Indonesia, Tourist Arrivals YoY JUN IDN 9.94% 1.1% GB BoE Interest Rate Decision GBR 0.75% 0.75% 0.75%
US Continuing Jobless Claims JUL/20 USD 1699K 1676K
US Initial Jobless Claims JUL/27 USD 215K 206K US Construction Spending MoM JUN USD -1.3% -0.5% US EIA Natural Gas Stocks Change 26/JUL USD 65Bcf 36Bcf
US Markit Manufacturing PMI JUL USD 50.4 50.6 2-Aug-19 Indonesia, Motorbike Sales YoY JUN IDN
-4.7%
GB Construction PMI JUL GBR
43.1 46
US Balance of Trade JUN USD
$-55.5B $-54.6B
US Non Farm Payrolls JUL USD
224K 162K
US Average Hourly Earnings MoM JUL USD
0.2% 0.2%
US Unemployment Rate JUL USD
3.7% 3.7%
US Average Hourly Earnings YoY JUL USD
3.1% 3.1%
US Average Weekly Hours JUL USD
34.4 34.4
US Manufacturing Payrolls JUL USD
17K 5K
US Participation Rate JUL USD
62.9%
US Government Payrolls JUL USD
33K US Nonfarm Payrolls Private JUL USD
191K 160
US Exports JUN USD
$210.636B
US Imports JUN USD
$266.16B
5-Aug-19 Japan, Jibun Bank Composite PMI Final JUL JPY
50.8 51.2
Japan, Jibun Bank Services PMI Final JUL JPY
51.9 52.3
Indonesia, GDP Growth Rate YoY Q2 IDN
5.07% Indonesia, GDP Growth Rate QoQ Q2 IDN
-0.52%
Indonesia, Business Confidence Q2 IDN
102.1
GB New Car Sales YoY JUL GBR
-4.9%
GB Markit/CIPS UK Services PMI JUL GBR
50.2 51.0
US Markit Composite PMI Final JUL USD
51.5 51.6
US Markit Services PMI Final JUL USD
51.5 52.2
US Total Vehicle Sales JUL USD
17.3M 16.9M
6-Aug-19 Japan, Household Spending MoM JUN JPY
5.5% 1.2%
Japan, Household Spending YoY JUN JPY
4% 1.6%
Japan, Average Cash Earnings YoY JUN JPY
-0.2%
Japan, Coincident Index Prel JUN JPY
103.4 Japan, Leading Economic Index Prel JUN JPY
94.9
Indonesia, Consumer Confidence JUL IDN
126.4 US IBD/TIPP Economic Optimism AUG USD
56.6
US JOLTs Job Openings JUN USD
7.323M 7.268M
Source: Bloomberg Lp
www.oso-securities.com Disclaimer on.
OSODaily 02 Agustus 2019
CORPORATE ACTION
RUPS
Date Time Company Event Place
7-Aug-19 10:00 ITMA RUPSLB Sahid Sudirman 56th Floor
8-Aug-19 10:00 LPPF RUPSLB Kantor Perseroan
13:00 GMFI RUPSLB Ruang Monas 2, Mezzaine Aryaduta Hotel
9-Aug-19 13:00 AISA RUPSLB TBA
14-Aug-19 10:00 ATIC RUPSLB Jakarta
15-Aug-19 11:00 MLBI RUPSLB Hotel Darmawangsa
16-Aug-19 TBA INCO RUPSLB TBA
19-Aug-19 10:00 JAST RUPS Gedung E-Trade Lt 7
20-Aug-19 10:00 DWGL RUPSLB
14:00 AHAP RUPSLB Hotel Ibis
21-Aug-19 14:00 MAYA RUPSLB Gedung Mayapada Tower 2
14:00 MYOH RUPSLB Crowne Plaza Hotel
23-Aug-19 10:00 LUCK RUPSLB Ruang Seminar I BEI
26-Aug-19 9:00 PEHA RUPSLB
10:00 LAND RUPSLB Ruang Meeting, Sahid Serpong
28-Aug-19 9:30 NRCA RUPSLB Hotel Gran Meli Lt 1
14:00 BMRI RUPSLB
29-Aug-19 10:00 LINK RUPSLB
10:00 TRIL RUPSLB Jl Guntur No 45
14:00 BBTN RUPSLB
30-Aug-19 9:30 CNTX RUPSLB Pabrik Perseroan
14:00 ASRM RUPSLB Hotel Borobudur Banda B Room
14:00 BBNI RUPSLB Menara BNI Lt 6
14:00 PGAS RUPSLB
2-Sep-19 10:00 BTPS RUPSLB Menara BTPN, CBD Mega Kuningan
14:00 BBRI RUPSLB
Dividend
Code Status Cum- Date Ex-Date Recording Date Pay -Date Ammount (IDR)/Share
ATIC Cash Dividen 5-Jul-19 8-Jul-19 8-Jul-19 31-Jul-19 7 CSAP Cash Dividen 5-Jul-19 8-Jul-19 8-Jul-19 31-Jul-19 4 INKP Cash Dividen 5-Jul-19 8-Jul-19 9-Jul-19 31-Jul-19 100
TELE Cash Dividen 5-Jul-19 8-Jul-19 8-Jul-19 31-Jul-19 6 ZINC Cash Dividen 8-Jul-19 9-Jul-19 10-Jul-19 1-Aug-19 0.4 IKBI Cash Dividen 30-Jul-19 31-Jul-19 1-Aug-19 22-Aug-19 8.8
IPO Company Underwriter Offering Date Listing Date IPO Price Shares (Mn)
Kencana Energy Tbk Bahana, RHB, Mirae Asset Sekuritas 09 - 14 Agustus 2019 20-Aug-19 250 - 420 977
Source: KSEI and OSO Research Team
www.oso-securities.com Disclaimer on.
OSODaily 02 Agustus 2019
Disclaimer This report has been prepared by PT OSO Sekuritas Indonesia on behalf of itself and its affiliated companies and is provided for information purposes only. Under no circumstance.is it to be used or considered as an offer to sell, or a solicitation of any offer to buy. This report has been produced independently and the forecasts, opinions and expectations contained herein are entirely those of PT. OSO Sekuritas Indonesia. We expressly disclaim any responsibility or liability (express or implied) of PT. OSO Sekuritas Indonesia, its affiliated companies and their respective employees and agents whatsoever and howsoever arising (including, without limitation for any claims, proceedings, action , suits, losses, expenses, damages or costs) which may be brought against or suffered by any person as a results of acting in reliance upon the whole or any part of the contents of this report and neither PT. OSO Sekuritas Indonesia, its affiliated companiesor their respective employees or agents accepts liability for any errors, omissions or mis-statements, negligent or otherwise, in the report and any liability in respect of the report or any inaccuracy therein or omission there from which might otherwise arise is hereby expresses disclaimed. The information contained in this report is not be taken as any recommendation made by PT. OSO Sekuritas Indonesia or any other person to enter into any agreement with regard to any investment mentioned in this document. This report is prepared for general circulation. It does not have regards tothe specific person who may receive this report. In considering any investments you should make your own independent assessment and seek your own professional financial and legal advice.
Research Team
Ike Widiawati Head of Research +62 21 2991 5300 (ike@oso-securities.com)
Rifqiyati Research Analyst +62 21 2991 5300 (Rifqiyati @oso-securities.com)
Sukarno Alatas Research Analyst +62 21 2991 5300 (sukarno@oso-securities.com)
Mochammad Cahyo Research Analyst +62 21 2991 5300 (cahyo@oso-securities.com)
Michelle Abadi Research Associate +62 21 2991 5300 (michelle@oso-securities.com)
Disclosure Of Interests
As of the date of this report, 1. The research analysts primarily responsible for the preparation of all or part of this report hereby certify that:
the views expressed in this research report accurately reflect the personal views of each such analyst about the subject securities
and issuers; and
no part of the analyst’s compensation was, is, or will be directly or indirectly, related to the specific recommendations or views
expressed in this research report.
2. The research analysts primarily responsible for the preparation of all or part of this report, or his/her associate(s), do not have any interest (including any direct or indirect ownership of securities, arrangement for financial accommodation or serving as an officer) in any company mentioned in this report
3. PT OSO Securities Indonesia on a business in Indonesia in investment banking, proprietary trading or agency broking in relation
to securities
PT OSO Sekuritas Indonesia - Research Cyber 2 Tower, 22
nd Floor
Jl. HR. Rasuna Said Blok X-5 No. 13 JakartaSelatan, 12950
Telp: +62-21-299-15-300 Fax : +62-21-290-21-497
Recommended