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OSODaily 13 Juni 2019

ODAY TOP STOCK TRADED (LQ45) JAKARTA COMPOSITE INDEX

6,276.18 (29.82)

-0.47% Previous 6,305.99 Lowest

6,257.44

Highest 6,296.82 Val IDR bn

7,475.10 Volbn 12.66 Mkt Cap IDRtr

7,148.93

Net Forg 1DIDRbn (189.52) Net ForgYTDIDRbn

58,690.01 Return YTD (%) 1.32 Month to date (%)

1.08

Indices 6,033.14 Last Chg% YTD% Americas

Dow Jones United States 26,004.83 (0.17) 11.48 S&P 500 United States 2,879.84 (0.20) 14.88 Nasdaq United States 7,792.72 (0.38) 17.44 EIDO United States 25.48 (1.28) 2.66 EMEA

FTSE 100 United Kingdom 7,367.62 (0.42) 9.50

CAC 40 France 5,374.92 (0.62) 13.62 D DAX Germany 12,115.68 (0.33) 14.74

Asia Pacific Nikkei Japanese 21,204.28 (0.35) 5.57 Shanghai China 2,925.72 (0.56) 16.66 TWSE Taiwan 10,607.76 0.07 9.13 KOSPI Korea 2,108.75 (0.22) 3.09 KLSE Malaysia 1,651.20 (0.03) (2.36) ST – Times Singapore 3,209.58 (0.06) 4.53 Sensex India 39,950.46 (0.48) 10.23 Hangseng Hongkong 27,789.34 (1.73) 5.66

Sectoral Previous Last Chg% YTD% AGRICULTURE 1,388.27 1,387.95 (0.02) (11.28) MINING 1,655.89 1,627.54 (1.71) (8.39) MISC INDUSTRY 1,315.78 1,299.82 (1.21) (6.79) BASIC INDUSTRY 768.31 763.97 (0.57) (10.62) CONSUMER GOODS 2,461.65 2,468.27 0.27 (3.93) PROPERTY 469.24 469.14 (0.02) 4.78 INFRASTRUKTUR 1,184.35 1,167.79 (1.40) 9.72 FINANCE 1,279.05 1,272.81 (0.49) 8.26 MANUFAKTURE 1,521.25 1,518.45 (0.18) (6.16) TRADE 809.90 810.01 0.01 3.33 LQ 45 1,002.32 996.19 (0.61) 1.37

Commodities Previous Lastest Chg% YTD% Oil (USD/bbl) 53.27 51.14 (4.00) 12.82 Nickel (USD/mt. ton) 11,646.00 11,885.00 2.05 10.77 Tins (USD/mt. ton) 19,240.00 19,160.00 (0.42) (0.90) Gold (USD tr.oz) 1,326.85 1,333.63 0.51 3.99 Copper (USD/mt.ton) 5,874.00 5,876.00 0.03 (1.89) CPO (MYR/ton) 1,971.00 1,986.00 0.76 (2.64) Coal (USD/ton) 76.15 75.75 (0.53) (29.17)

Currencies

Last Chg% YTD% IDR / USD

14,241.00 0.06 1.05

IDR / AUD

9,894.98 0.31 2.74 IDR / EUR

16,137.12 (0.24) 1.92

IDR /SGD

10,439.74 (0.16) 1.11 IDR / JPY

131.56 (0.24) (0.71)

IDR / GBP

18,143.17 (0.34) 0.97 Global Macro Economics CB Rate CPI YoY GDP YoY United States 2.50 2.00 3.20 Euro Area 0.00 1.20 1.20 United Kingdom 0.75 2.10 1.80 Japan 0.10 0.90 0.90 China 4.35 2.70 6.40 Domestic macro Economics Lastest Chg% YTD% Jibor 5.00 (15.02) 28.20 GovBonds (5y) 7.31 (0.21) (7.51) GovBonds (10y) 7.72 - (3.80)

Inflasi YoY 3.32

Inflasi MoM 0.68 Bi rate 6.00 GDP Growth YoY (%) 5.07

Foreign Reserve (Bn) 124.29 Government Bonds Yield% Wow% Ytd% 7 Year 7.74 7.74 7.74 15 Year 8.06 8.06 8.06 20 Year 8.22 8.22 8.22 30 Year 8.66 8.66 8.66

Source: Bloomberg LP & OSO Research Team

Market Review Pada perdagangan kemarin (12/06) IHSG ditutup melemah sebesar 0.47% ke level 6.276,18. Delapan dari sepuluh indeks sektoral berakhir dalam zona merah, dimana sektor Pertambangan dan Infrastruktur memimpin pelemahan masing-masing sebesar 1.71% dan 1.40%. Adapun saham yang menjadi pemberat indeks diantaranya: BBCA, TLKM, ASII, BYAN, TKIM. Sementara itu pelaku pasar asing membukukan aksi jual bersih (Netsell) sebesar Rp 189 miliar. Nilai tukar rupiah terdepresiasi sebesar -0.06% ke level 14,421. Global Review Pada perdagangan semalam (12/06) bursa saham Wall Street kompak ditutup dalam teritori negatif, dimana Dow Jones turun 0.17%, S&P 500 melemah 0.20% dan Nasdaq Composite negatif 0.38%. Pelemahan tersebut seiring dengan melemahnya sektor energi yang tercatat sebesar 1.4%, hal ini dibebani oleh penurunan harga minyak WTI yang lebih dari 4% pada perdagangan semalam akibat dari kekhawatiran kenaikan stok minyak mentah Amerika Serikat diluar perkiraan atau sebanyak 2.21 juta barel. Sementara itu rilisnya data Inflasi yang tercatat sebesar 0.1% dari sebelumnya 0.3% (MoM) juga menjadi salah satu sentimen negatif indeks. JCI Prediction IHSG ditutup melemah sebesar 0.5% ke level 6.276. IHSG

ditutup bullish candle. Adapun indikator Stochastic dead

cross dan MACD histogram bergerak positif dengan

Volume meningkat. kami perkirakan IHSG kembali

lanjutkan pelelemahan untuk menutup area gap terlebih

dahulu dengan pergerakan di kisaran 6.209 – 6.321.

Major Economic Release

Inflation Rate China pada Mei 2019 tercatat stagnan sebesar 0% dibandingkan sebelumnya yang naik sebesar 0.1% (MoM).

Machinery Orders Japan pada April 2019 naik sebesar 5.2% lebih tinggi dibandingkan sebelumnya 3.8% (MoM).

Consumer Confidence Indonesia pada Mei 2019 naik ke level 128.2 dari sebelumnya di level 128.1.

Inflation Rate United States pada Mei 2019 tercatat sebesar 0.1% dari sebelumnya sebesar 0.3% (MoM).



TODAY TOP STOCK TRADED (LQ45)

Top Gainers

Last Chg% YTD% MC (T) Beta

AKRA IJ Equity

4,210 5.25 (1.86) 16.90 1.20

INDY IJ Equity

1,450 4.32 (8.52) 7.55 1.35

CPIN IJ Equity

5,075 3.15 (29.76) 83.22 1.46

JSMR IJ Equity

5,825 2.19 36.10 42.28 1.04

TLKM IJ Equity

3,940 2.17 5.07 390.31 0.78

Top Losers

Last Chg% YTD% MC (T) Beta

TKIM IJ Equity

10,225 (10.70) (7.88) 31.83 2.25

INKP IJ Equity

7,050 (7.24) (38.96) 38.57 2.30

SMGR IJ Equity

11,600 (3.13) 0.87 68.81 1.51

LPPF IJ Equity

3,650 (2.67) (34.82) 10.65 0.89

PTPP IJ Equity

2,020 (2.42) 11.91 12.52 1.81

Top Volume

Last Volume (Mn) YTD% MC (T) Beta

TLKM IJ Equity

3,940 134.7 5.1 390.31 0.78

BBRI IJ Equity

4,210 92.9 15.0 519.29 1.60

ERAA IJ Equity

1,325 88.7 (39.8) 4.23 0.71

ANTM IJ Equity

785 54.7 2.6 18.86 1.61

PWON IJ Equity

750 52.1 21.0 36.12 1.42

Top Value

Last Value (Bn) YTD% MC (T) Beta

BBRI IJ Equity

4,210 489.5 15.0 519.29 1.60

BBCA IJ Equity

29,225 426.1 12.4 720.54 1.02

BMRI IJ Equity

7,875 421.9 6.8 367.50 1.54

TLKM IJ Equity

3,940 350.1 5.1 390.31 0.78

ASII IJ Equity

7,500 280.4 (8.8) 303.63 1.32

BENCHMARK INDICES COMPARISON Indices Country Latest P/E PBV Target 2019F Asia Pacific

IHSG

Indonesia 6,276 19.87 2.18 7,100 Nikkei

Japanese 21,130 15.73 1.60 24,101

Shanghai

China 2,909 14.07 1.44 3,353 TWSE

Taiwan 10,616 15.92 1.57 11,256

KOSPI

Korea 2,109 12.00 0.85 2,664 KLSE

Malaysia 1,651 21.00 1.69 1,726

ST - Times

Singapore 3,208 13.02 1.08 3,663 Sensex

India 39,727 28.30 3.10 42,993

Hangseng

Hongkong 27,308 10.72 1.21 33,332

JAKARTA COMPOSITE INDEX MOVERS

Movers

Latest Chg% YTD% MC (T) Beta

UNVR IJ Equity

45000 1.58 (0.88) 343 1.07

PLIN IJ Equity

4360 24.57 51.39 15 0.14

CPIN IJ Equity

5075 3.15 (29.76) 83 1.46

SMBR IJ Equity

740 24.37 (57.71) 7 0.91

JPFA IJ Equity

1605 6.29 (25.35) 19 1.06

Laggard


BBCA Equity

29225 (1.10) 12.40 721 1.02

TLKM IJ Equity

3940 2.17 5.07 390 0.78

BYAN IJ Equity

17150 (9.26) (13.71) 57 (0.05)

ASII IJ Equity

7500 (1.64) (8.81) 304 1.32

TKIM IJ Equity

10225 (10.70) (7.88) 32 2.25

Movers


OSO MANAJEMEN INVESTASI

Mutual Fund Latest 1 Month (%)

Oso Sustainability Fund

1,489.23 0.24 Oso Syariah Equity Fund

1,348.93 (4.12)

Source: Bloomberg LP & OSO Research Team



COMPARATION OF JCI PERFORMANCE (SEAG)


OSODaily 05 April 2019


MACRO ECONOMIC & INDUSTRY NEWS. Bank Indonesia (BI) baru saja merilis Indeks Keyakinan Konsumen (IKK) Mei 2019 mengalami peningkatan 0,1 dari bulan sebelumnya menjadi 128,1. Kenaikan IKK ini dikarenakan sebagai dampak bulan Ramadhan dan Lebaran tahun 2019. Malaysian Palm Oil Board (MPOB) produksi CPO di Malaysia pada Mei 2019 mencapai 1,67 juta ton, atau lebih tinggi dari April 2019 sebanyak 1,64 juta ton. Sementara itu, ekspor CPO Malaysia pada Mei 2019 mencapai 301.619, atau naik 3.035 ton dari bulan sebelumnya. Kenaikan produksi CPO Malaysia menjadi sentimen negatif bagi harga CPO, di tengah masih lemahnya harga CPO. Australia dilaporkan memangkas perkiraan produksi gandum mereka untuk panen 2019/2020 lebih dari 11%, karena kekeringan yang melanda sepanjang pantai timur, mengancam tanaman tersebut. Akibatnya, pembeli tradisional gandum Australia seperti pabrik Indonesia dan Jepang akan terpaksa mencari pasar alternatif seperti Rusia pada saat harga sedang reli. Didukung oleh proyeksi Australia ini, harga gandum patokan global telah meningkat sekitar 15% sejak Mei.

CORPORATES NEWS PT Sri Rejeki Isman Tbk (SRIL) mendapat keuntungan dari kondisi perang dagang Amerika Serikat dan China. Saat ini pertumbuhan penjualan SRIL ke AS meningkat cukup signifikan sampai 40% kenaikannya sekitar US$ 25 juta-US$ 30 juta sampai saat ini. PT United Tractors Tbk (UNTR) meminjamkan dana sebesar Rp 280 miliar ke anak usahanya PT Patria Maritime Line (PML). Pinjaman ini akan digunakan untuk membeli kapal. PT Eka Sari Lorena Transport Tbk (LRNA) tidak melanjutkan kerjasama dengan PT Transjakarta sebagai operator bus. Hal itu karena jarak tempuh LRNA per hari tidak pernah mencapai target. Dari target pendapatan sebesar Rp 23,2 miliar pada 2018 lalu, realisasinya tidak sampai setengahnya atau hanya sebesar Rp 10,21 miliar. PT Plaza Indonesia Realty Tbk (PLIN) akan membagikan dividen tunai Rp 588 per saham. Dividen ini merupakan bagian dari laba tahun buku 2018 dan saldo laba PLIN tahun-tahun sebelumnya. PT Intergra Indocabinet Tbk (WOOD) memperoleh untung di tengah perang dagang yang semakin membara. Perusahaan asal Amerika Serikat mengalihkan ordernya ke negara Asean seperti Indonesia.Sampai saat ini permintaan AS ke produk WOOD terus meningkat. PT Kioson Komersial Indonesia Tbk (KIOS) telah merealisasikan pembukaan 10.000 outlet baru dalam tiga bulan pertama 2019. Realisasi tersebut menyebabkan kewajiban ekspansi outlet mereka dalam sembilan bulan berikutnya menjadi lebih ringan. PT Aneka Gas industri (AGII), sudah mengantongi proyek baru dari perusahaan sawit. Proyek ini akan direalisasikan di tahun 2020.

Sumber: Kontan, Bisnis Indonesia, Iqplus

NOTE: Positive Sentiment Negative Sentiment Netral




Technical

Medium/Minor trend : Uptrend MACD line/histogram : Positif Stochastic : Golden Cross Volume : Meningkat

Recommendation : BUY Entry Buy : 4.140 – 4.210 Target Price : 4.390 – 4.450 Support : 4.100 – 4.140 Cutloss : 4.090

DAILY TECHNICAL

AKRA Hentikan Penjualan BBM Bersubsidi Badan Pengatur Hilir Minyak dan Gas Bumi menyebutkan bahwa AKR Corporindo Tbk (AKRA) menghentikan penjualan bahan bakar minyak bersubsidi akibat aturan formula harga yang dianggap menekan perseroan. Dua stasiun pengisian bahan bakar umum (SPBU) milik AKRA tidak lagi menjual produk solar bersubsidi. Kedua stasiun tersebut adalah Stasiun Pengisian Bahan Bakar Nelayan (SPBN) AKR Lempasing dan Stasiun Pengisian Bahan Bakar Kendaraan Bermotor (SPBKB) AKR di Katibung, Lampung Selatan yang telah menghentikan sementara penjualan solar subsidi sejak 12 Mei 2019.

Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 4.390 Apabila break 4.390 next harga ke level 4.450. Hati-hati jika harga tidak mampu break up atau menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 4.090 jika sudah melewati support 4.100 – 4.140.

|AKRA |PE : 20.95x | PBV : 1.66x | ROE: 7.93% | NPM : 4.0% | DER : 0.86x | Fair Value : 4.700|

Souce: OSO Research Team

BUY

NOTE:




Technical

Medium/Minor trend : Uptrend MACD line/histogram : Positif Stochastic : Golden Cross Volume : Meningkat


DAILY TECHNICAL

PT Indika Energy Tbk (INDY) Memacu Proyek Non-Batubara Dalam jangka lima tahun ke depan, PT Indika Energy Tbk (INDY) menargetkan pendapatan dari bisnis non batubara bakal berkontribusi 25% dari total pendapatan, oleh karena itu mereka terus mendiversifikasi bisnis. Salah satunya dengan merambah ke bisnis pembangkit listrik tenaga uap (PLTU) Cirebon unit II melalui anak usahanya yakni PT Cirebon Electric Power. Head of Corporate Communication INDY, Leonardus Herwindo menjelaskan pengerjaan proyek PLTU Cirebon II saat ini berjalan sesuai rencana. Hingga Mei 2019, pengerjaan konstruksi telah mencapai 27%, sementara progres secara keseluruhan telah mencapai 45%.

Harga menguji resistance terdekat. Harga berpeluang menguat dengan menguji target harga 1.490. Jika tembus next target 1.520. Apabila tidak mampu menguji atau bertahan di atas 1.490 diharapkan hati-hati. Batasi resiko dengan tetap memperhatikan support 1.410 – 1.430. Cutloss di level 1.405 jika sudah melewati support.

|INDY |PE : 11.34x | PBV : 0.47x | ROE: 4.15% | NPM : 1.66% | DER : 2.34x | Fair Value : 2.000|


BUY

NOTE:




Technical

Medium/Minor trend : Uptrend MACD line/histogram : Positif Stochastic : Bullish Volume : Meningkat Tipis


DAILY TECHNICAL

1,1 Juta Pemudik dengan Mobil Telah Kembali ke Jakarta Lima hari setelah Lebaran atau Selasa (11/6/2019) kemarin, PT Jasa Marga (Persero) Tbk mencatat sudah 1.106.896 atau 91 persen kendaraan roda empat yang telah kembali ke Jakarta dari total 1,21 juta kendaraan yang meninggalkan Jakarta selama H-7 hingga H-1 Lebaran. "Sehingga terdapat sisa 9 persen atau sebanyak 109 ribu kendaraan yang masih belum melakukan perjalanan ke Jakarta, Jumlah kendaraan yang sudah menuju Jakarta dalam lima hari tersebut naik sebesar 59,53 persen dari lalu lintas harian rata-rata (LHR) normal sebesar 693.862 kendaraan

Harga ditutup bullish candle dan menguji resistance. Harga berpeluang menguji level 5.950. Apabila break 5.950 next harga ke level 6.025. Hati-hati jika harga tidak mampu tembus 5.950 atau menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 5.650 jika sudah melewati support 5.675 – 5.750.

|JSMR|PE : 18.09x | PBV : 2.03x | ROE: 11.24% | NPM : 7.65% | DER : 3.14x | Fair Value : 6.100|


BUY

NOTE:




SECTOR ROTATION Mingguan

Bulanan



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 3,400 - 42.26 3.58 52.78 4.88 1.13 5.21 98.23 2,895 -15% Sell

CPIN IJ Equity 5,075 3.15 (29.76) 4.12 19.08 11.83 16.10 23.71 22.95 4,942 -3% Sell

INKP IJ Equity 7,050 (7.24) (38.96) 0.70 5.35 2.46 6.03 14.02 113.83 11,300 60% Buy

INTP IJ Equity 20,650 0.49 11.92 3.22 59.45 30.36 4.55 5.28 0.50 20,143 -2% Sell

SMGR IJ Equity 11,600 (3.13) 0.87 2.20 23.45 9.79 4.60 9.69 30.13 14,240 23% Buy

TKIM IJ Equity 10,225 (10.70) (7.88) 1.74 9.08 16.67 8.79 21.17 120.71 13,000 27% Buy

TPIA IJ Equity 5,025 0.50 (15.19) 3.53 49.93 16.45 4.18 7.14 34.35 4,506 -10% Sell

WSBP IJ Equity 398 (1.00) 5.85 1.19 11.66 6.34 6.05 11.05 69.31 487 22% Buy

Industry Average in LQ45 2.54 28.85 12.35 6.43 12.16 61.25

Total of Industry Average 1.68 31.30 13.12 2.91 4.09 101.08

SECTOR CONSUMER GOODS

GGRM IJ Equity 79,775 (0.28) (4.60) 3.23 18.59 10.92 12.80 18.03 38.38 92,804 16% Buy

HMSP IJ Equity 3,380 - (8.89) 10.17 28.57 21.64 25.33 36.38 0.33 4,081 21% Buy

ICBP IJ Equity 10,150 - (2.87) 5.13 25.16 15.48 13.09 21.56 9.06 10,953 8% Hold

INDF IJ Equity 7,025 (0.35) (5.70) 1.75 14.25 5.21 4.53 12.81 59.18 8,045 15% Buy

KLBF IJ Equity 1,450 (0.68) (4.61) 4.47 27.60 18.42 13.50 16.93 2.34 1,506 4% Hold

UNVR IJ Equity 45,000 1.58 (0.88) 37.89 38.08 26.30 42.66 112.21 20.26 45,439 1% Hold



SECTOR INFRASTRUCTURE

EXCL IJ Equity 2,900 (1.36) 46.46 1.68 130.48 3.36 (5.68) (16.26) 125.77 3,392 17% Buy

JSMR IJ Equity 5,825 2.19 36.10 2.42 19.18 6.62 2.58 13.30 157.26 6,303 8% Buy

PGAS IJ Equity 1,985 (0.75) (6.37) 1.28 11.67 2.40 4.15 9.84 109.43 2,588 30% Buy

TLKM IJ Equity 3,940 2.17 5.07 3.71 21.07 6.33 8.70 18.19 37.58 4,237 8% Hold


Total of Industry Average 2.86 50.01 13.09 (3.82) (1.95) 131.06

Source: Bloomber LP





SECTOR MINING

ADRO IJ Equity 1,285 0.39 5.76 0.77 6.25 2.26 6.70 12.63 32.95 1,729 35% Buy

AKRA IJ Equity 4,210 5.25 (1.86) 1.97 23.48 13.18 4.85 10.75 42.61 5,700 35% Buy

ANTM IJ Equity 785 (1.26) 2.61 0.95 23.57 6.89 2.47 4.14 50.26 1,121 43% Buy

ELSA IJ Equity 352 (0.56) 2.33 0.76 9.13 3.19 5.09 8.66 24.89 700 99% Buy

INCO IJ Equity 2,940 0.34 (9.82) 1.10 60.69 12.13 1.56 1.82 1.94 3,538 20% Buy

INDY IJ Equity 1,450 4.32 (8.52) 0.55 16.00 1.03 0.89 3.44 129.53 2,450 69% Buy

ITMG IJ Equity 17,100 0.59 (15.56) 1.54 5.41 2.91 17.14 28.17 - 23,767 39% Buy

MEDC IJ Equity 780 (0.64) 13.87 0.78 9.06 1.60 (0.88) (3.52) 202.38 1,043 34% Buy

PTBA IJ Equity 2,880 (1.71) (33.02) 1.76 6.44 4.63 19.44 29.25 5.12 4,134 44% Buy



SECTOR MISC INDUSTRY

ASII IJ Equity 7,500 (1.64) (8.81) 2.14 13.85 7.91 6.60 16.18 49.27 8,638 15% Buy

SRIL IJ Equity 338 (1.17) (5.59) 0.89 6.74 2.50 5.27 13.85 139.64 Neutral #VALUE! #VALUE!


Total of Industry Average 2.64 18.48 5.65 3.29 (2.45) 94.72

SECTOR PROPERTY

ADHI IJ Equity 1,535 - (3.15) 0.86 8.46 2.95 2.26 10.53 136.09 2,115 38% Buy

BSDE IJ Equity 1,355 (1.81) 7.97 0.96 17.14 9.74 2.98 5.72 46.06 1,617 19% Buy

PTPP IJ Equity 2,020 (2.42) 11.91 0.97 8.24 4.15 3.22 12.42 74.03 2,769 37% Buy

PWON IJ Equity 750 - 20.97 2.71 13.37 10.36 10.95 22.32 36.44 769 3% Hold

WIKA IJ Equity 2,340 (1.27) 41.39 1.39 11.36 4.94 3.41 13.23 78.93 2,719 16% Buy

WSKT IJ Equity 1,870 (2.09) 11.31 1.36 8.04 3.58 2.63 18.45 224.10 2,264 21% Buy



Source: Bloomber LP





SECTOR TRADE

ERAA IJ Equity 1,325 (0.38) (39.77) 0.81 6.00 2.93 6.01 16.15 88.81 1,519 15% Buy

LPPF IJ Equity 3,650 (2.67) (34.82) 5.75 10.74 5.95 18.60 45.60 - 5,242 44% Buy

MNCN IJ Equity 1,235 0.82 78.99 1.51 8.60 4.62 11.24 18.61 42.22 1,306 6% Hold

SCMA IJ Equity 1,690 1.81 (9.63) 5.00 16.20 11.33 24.66 33.18 0.33 2,173 29% Buy

UNTR IJ Equity 26,775 0.28 (2.10) 1.78 8.58 4.15 11.57 22.26 17.95 33,580 25% Buy



Last Price Change (%) Chg. Ytd (%) PBV (x) PE (x) LDR (%) NPL NIM (%) DER (x) Fair Value Up-Side Recommendation

SECTOR FINANCE

BBCA IJ Equity 29,225 (1.10) 12.40 4.54 27.28 88.15 1.40 6.58 6.30 28,452 -3% Sell

BBRI IJ Equity 4,210 (0.47) 15.03 2.67 15.54 90.10 2.27 7.34 64.57 4,547 8% Hold

BBNI IJ Equity 8,600 0.29 (2.27) 1.41 10.38 92.85 1.90 5.44 82.33 10,200 19% Buy

BBTN IJ Equity 2,580 0.78 1.57 1.11 9.61 103.45 2.82 4.00 188.00 2,764 7% Hold

BMRI IJ Equity 7,875 - 6.78 1.93 13.93 100.47 2.75 5.50 56.75 8,679 10% Buy



Source: Bloomber LP



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 1,535 (3.2) Negatif Trading Positif 1,360 1,475 1,590 1,535 1,520 1,505 1,550 1,565 1,480 Hold

ADRO IJ Equity 1,285 5.8 Negatif Trading Positif 1,170 1,255 1,335 1,280 1,260 1,250 1,290 1,310 1,230 Hold

AKRA IJ Equity 4,210 (1.9) Positif Trading Positif 3,820 4,045 4,275 4,100 3,970 3,850 4,220 4,350 3,790 Speculative Buy

ANTM IJ Equity 785 2.6 Negatif Trading Positif 665 730 790 795 775 765 805 825 750 Hold

ASII IJ Equity 7,500 (8.8) Negatif OverBought Positif 6,625 7,150 7,675 7,500 7,450 7,375 7,575 7,625 7,275 Sell

BBCA IJ Equity 29,225 12.4 Negatif OverBought Positif 26,125 27,975 29,825 29,250 29,025 28,850 29,425 29,650 28,425 Sell

BBNI IJ Equity 8,600 (2.3) Negatif Trading Positif 8,025 8,475 8,925 8,575 8,525 8,450 8,650 8,700 8,325 Hold

BBRI IJ Equity 4,210 15.0 Negatif OverBought Positif 3,630 3,980 4,330 4,190 4,170 4,150 4,210 4,230 4,090 Sell

BBTN IJ Equity 2,580 1.6 Negatif OverBought Positif 2,205 2,385 2,560 2,570 2,545 2,520 2,595 2,620 2,480 Sell

BMRI IJ Equity 7,875 6.8 Negatif OverBought Positif 7,100 7,500 7,900 7,875 7,850 7,775 7,950 7,975 7,650 Sell

BRPT IJ Equity 3,400 42.3 Positif Oversold Negatif 3,325 3,715 4,100 3,395 3,360 3,315 3,440 3,475 3,265 Speculative Buy

BSDE IJ Equity 1,355 8.0 Negatif Trading Positif 1,125 1,265 1,400 1,370 1,345 1,320 1,395 1,420 1,300 Hold

CPIN IJ Equity 5,075 (29.8) Negatif Trading Positif 4,225 4,710 5,200 5,025 4,860 4,710 5,175 5,350 4,640 Hold

ELSA IJ Equity 352 2.3 Negatif Trading Positif 329 348 366 352 349 346 355 358 340 Hold

ERAA IJ Equity 1,325 (39.8) Negatif Trading Positif 955 1,105 1,255 1,345 1,280 1,250 1,375 1,440 1,230 Hold

EXCL IJ Equity 2,900 46.5 Negatif OverBought Positif 2,520 2,790 3,065 2,930 2,880 2,810 3,000 3,050 2,770 Sell

GGRM IJ Equity 79,775 (4.6) Negatif Trading Positif 76,900 80,350 83,775 79,825 79,450 79,025 80,250 80,625 77,850 Hold

HMSP IJ Equity 3,380 (8.9) Negatif Trading Positif 3,175 3,355 3,530 3,400 3,325 3,300 3,425 3,500 3,250 Hold

ICBP IJ Equity 10,150 (2.9) Negatif OverBought Positif 9,325 9,675 10,025 10,150 10,075 10,000 10,225 10,300 9,850 Sell

INCO IJ Equity 2,940 (9.8) Negatif Trading Positif 2,425 2,705 2,990 2,965 2,885 2,855 2,995 3,075 2,810 Hold

INDF IJ Equity 7,025 (5.7) Negatif OverBought Positif 5,925 6,475 7,000 7,050 7,000 6,925 7,125 7,175 6,825 Sell

INDY IJ Equity 1,450 (8.5) Positif Trading Positif 1,175 1,385 1,600 1,425 1,380 1,340 1,465 1,510 1,320 Speculative Buy

INKP IJ Equity 7,050 (39.0) Negatif Trading Positif 5,250 6,525 7,800 7,325 7,025 6,675 7,675 7,975 6,575 Hold

source: Bloomberg Lp



TECHNICAL ANALYSIS (LQ 45)

Ticker Last YtD% MA5 RSI Rec MACD Trend

Bollinger Band

Pivot Point

Support Resistance Stop Loss

Level Recommendation

Lower Middle Upper 1 2 1 2

INTP IJ Equity 20,650 11.9 Negatif Trading Positif 17,650 19,575 21,525 20,475 20,300 20,025 20,750 20,925 19,725 Hold

ITMG IJ Equity 17,100 (15.6) Negatif Oversold Positif 16,250 17,200 18,125 17,050 16,950 16,825 17,175 17,275 16,575 Speculative Buy

JSMR IJ Equity 5,825 36.1 Negatif Trading Positif 5,075 5,475 5,875 5,775 5,700 5,625 5,850 5,925 5,525 Hold

KLBF IJ Equity 1,450 (4.6) Negatif Trading Positif 1,250 1,385 1,520 1,445 1,425 1,415 1,455 1,475 1,390 Hold

LPPF IJ Equity 3,650 (34.8) Negatif Trading Positif 3,585 3,765 3,940 3,700 3,630 3,570 3,760 3,830 3,515 Hold

MEDC IJ Equity 780 13.9 Negatif Trading Positif 720 775 825 785 775 770 790 800 755 Hold

MNCN IJ Equity 1,235 79.0 Negatif Strong Sell Positif 775 1,000 1,220 1,230 1,210 1,190 1,250 1,270 1,170 Sell

PGAS IJ Equity 1,985 (6.4) Negatif Trading Positif 1,825 2,000 2,175 1,995 1,970 1,960 2,005 2,030 1,930 Hold

PTBA IJ Equity 2,880 (33.0) Positif Oversold Positif 2,665 2,965 3,265 2,905 2,870 2,835 2,940 2,975 2,790 Buy

PTPP IJ Equity 2,020 11.9 Negatif Trading Positif 1,680 1,930 2,180 2,045 2,020 1,995 2,070 2,095 1,965 Hold

PWON IJ Equity 750 21.0 Negatif OverBought Positif 605 670 735 750 735 715 770 785 705 Sell

SCMA IJ Equity 1,690 (9.6) Negatif Trading Positif 1,430 1,590 1,750 1,675 1,655 1,630 1,700 1,720 1,605 Hold

SMGR IJ Equity 11,600 0.9 Negatif Trading Positif 10,150 11,100 12,075 11,700 11,425 11,250 11,875 12,150 11,075 Hold

SRIL IJ Equity 338 (5.6) Negatif Trading Positif 322 336 349 340 337 336 341 344 330 Hold

TKIM IJ Equity 10,225 (7.9) Negatif OverBought Positif 4,400 7,825 11,250 10,775 10,150 9,450 11,475 12,100 9,300 Sell

TLKM IJ Equity 3,940 5.1 Negatif OverBought Positif 3,465 3,755 4,045 3,905 3,855 3,795 3,965 4,015 3,735 Sell

TPIA IJ Equity 5,025 (15.2) Positif Trading Negatif 4,745 5,100 5,475 4,975 4,925 4,800 5,100 5,150 4,730 Hold

UNTR IJ Equity 26,775 (2.1) Negatif Trading Positif 23,750 25,475 27,225 26,525 26,150 25,825 26,850 27,225 25,425 Hold

UNVR IJ Equity 45,000 (0.9) Negatif Trading Positif 41,225 43,225 45,225 44,600 44,200 43,700 45,100 45,500 43,050 Hold

WIKA IJ Equity 2,340 41.4 Negatif OverBought Positif 1,845 2,140 2,440 2,340 2,320 2,300 2,360 2,380 2,265 Sell

WSBP IJ Equity 398 5.9 Negatif Trading Positif 359 389 420 401 397 395 403 407 389 Hold

WSKT IJ Equity 1,870 11.3 Negatif Trading Positif 1,630 1,805 1,980 1,885 1,860 1,845 1,900 1,925 1,815 Hold

source: Bloomberg Lp



MAJOR ECONOMIC RELEASE CALENDAR

Event Country Act Prev Cons

12-Jun-19 Japan, Machinery Orders YoY APR JPY 2.50% -0.7%

Japan, Machinery Orders MoM APR JPY 5.20% 3.8%

Japan, PPI MoM MAY JPY -0.10% 0.30%

Japan, PPI YoY MAY JPY 0.70% 1.20%

China, Inflation Rate YoY MAY CNY 2.70% 2.50%

China, Inflation Rate MoM MAY CNY 0% 0.1%

China, PPI YoY MAY CNY 0.60% 0.9%

Indonesia, Consumer Confidence MAY IDN 128.2 128.1

US Inflation Rate YoY MAY USD 1.80% 2%

US Inflation Rate MoM MAY USD 0.10% 0.3%

US EIA Crude Oil Stocks Change 07/JUN USD 2.206M

US EIA Gasoline Stocks Change 07/JUN USD 0.764M

13-Jun-19 Japan, Foreign Bond Investment JUN/08 JPY

Japan, Stock Investment by Foreigners JUN/08 JPY

Japan, BSI Large Manufacturing QoQ Q2 JPY -7.3

US Continuing Jobless Claims JUN/01 USD

US Export Prices YoY MAY USD 0.3%

US Export Prices MoM MAY USD 0.2%

US Import Prices YoY MAY USD -0.2%

US Import Prices MoM MAY USD 0.2%

US Initial Jobless Claims JUN/08 USD

US EIA Natural Gas Stocks Change 07/JUN USD

14-Jun-19 China, Fixed Asset Investment (YTD) YoY MAY CNY 6.1%

China, Industrial Production YoY MAY CNY 5.4%

China, Retail Sales YoY MAY CNY 7.2%

China, New Yuan Loans MAY CNY CNY1020B

China, Total Social Financing MAY CNY CNY2097B

Japan, Capacity Utilization MoM APR JPY -0.4%

Japan, Industrial Production YoY Final APR JPY -4.3%

Japan, Industrial Production MoM Final APR JPY -0.6%

Indonesia, Motorbike Sales YoY MAY USD -0.2%

Indonesia, Retail Sales YoY APR USD 10.1%

US Retail Sales MoM MAY USD 3.1%

US Retail Sales YoY APR USD 3.1%

US Manufacturing Production MoM MAY USD

US Manufacturing Production YoY MAY USD -0.2%

US Business Inventories MoM APR USD 0%

Source: Bloomberg Lp

https://tradingeconomics.com/japan/machinery-ordershttps://tradingeconomics.com/japan/machinery-ordershttps://tradingeconomics.com/japan/producer-priceshttps://tradingeconomics.com/japan/producer-prices-changehttps://tradingeconomics.com/china/inflation-cpihttps://tradingeconomics.com/china/inflation-rate-momhttps://tradingeconomics.com/china/producer-prices-changehttps://tradingeconomics.com/indonesia/consumer-confidencehttps://tradingeconomics.com/united-states/inflation-cpihttps://tradingeconomics.com/united-states/inflation-rate-momhttps://tradingeconomics.com/united-states/crude-oil-stocks-changehttps://tradingeconomics.com/united-states/gasoline-stocks-change



CORPORATE ACTION RUPS

Date Time Company Event Place

12-Jun-19 9:30 MBAP RUPSLB 10:00 AGII RUPS UGM Samator Gedung B 10:00 LRNA RUPS Zest Hotel International 10:00 OCAP RUPSLB Deutsche Bank Building Lt 15

13-Jun-19 10:00 PCAR RUPS Hotel Noormans 14:00 HDFA RUPSLB Gedung Blugreen Boutique Office

14:00 PEGE RUPS BEI Tower II Lantai 1

14-Jun-19 9:00 PBSA RUPSLB 10:00 ATPK RUPS Hotel Amaris Tebet 10:00 BMSR RUPSLB Gedung Graha BIP 10:00 POOL RUPSLB BEI Tower II Lantai 1 13:30 POLA RUPSLB BEI Tower II Lantai 1

IPO Company Underwriter Offering Date Listing Date IPO Price Shares (Mn)

Bali Bintang Sejahtera Tbk Buana Capital Sekuritas 17 - 21 Mei 2019 17-Jun-19 175 2,000

Communication Cable Systems Tbk UOB Kay Hian Sekuritas 11 - 12 Juni 2019 18-Jun-19 250 200

Indonesian Tobacco Tbk Phillip Sekuritas 25 Juni - 1 Juli 2019 4-Jul-19 180 - 230 274

Arkha Jayanti Persada Tbk UOB Kay Hian Sekuritas TBA TBA 275 - 300 500



Dividend

Code Status Cum- Date Ex-Date Recording Date Pay -Date Ammount (IDR)/Share

CPIN Cash Dividen 10-Jun-19 11-Jun-19 12-Jun-19 18-Jun-19 118 IMPC Cash Dividen 10-Jun-19 11-Jun-19 12-Jun-19 26-Jun-19 10 JSPT Cash Dividen 10-Jun-19 11-Jun-19 12-Jun-19 26-Jun-19 19 MICE Cash Dividen 10-Jun-19 11-Jun-19 12-Jun-19 26-Jun-19 10 TALF Cash Dividen 10-Jun-19 11-Jun-19 12-Jun-19 26-Jun-19 6 TSPC Cash Dividen 10-Jun-19 11-Jun-19 12-Jun-19 26-Jun-19 40 DYAN Cash Dividen 11-Jun-19 12-Jun-19 13-Jun-19 26-Jun-19 2

GHON Cash Dividen 11-Jun-19 12-Jun-19 13-Jun-19 27-Jun-19 13 PSSI Cash Dividen 11-Jun-19 12-Jun-19 13-Jun-19 26-Jun-19 7 RALS Cash Dividen 11-Jun-19 12-Jun-19 13-Jun-19 27-Jun-19 60 RANC Cash Dividen 11-Jun-19 12-Jun-19 13-Jun-19 27-Jun-19 7 SMSM Cash Dividen 11-Jun-19 12-Jun-19 13-Jun-19 25-Jun-19 10

SPTO Cash Dividen 11-Jun-19 12-Jun-19 13-Jun-19 27-Jun-19 38

TIFA Cash Dividen 11-Jun-19 12-Jun-19 13-Jun-19 27-Jun-19 7 TLKM Cash Dividen 11-Jun-19 12-Jun-19 13-Jun-19 27-Jun-19 163 INDR Cash Dividen 12-Jun-19 13-Jun-19 14-Jun-19 28-Jun-19 340 JTPE Cash Dividen 12-Jun-19 13-Jun-19 14-Jun-19 27-Jun-19 30

MPMX Cash Dividen 12-Jun-19 13-Jun-19 14-Jun-19 28-Jun-19 480 MTDL Cash Dividen 12-Jun-19 13-Jun-19 14-Jun-19 27-Jun-19 25 PBID Cash Dividen 12-Jun-19 13-Jun-19 14-Jun-19 25-Jun-19 50

SKRN Cash Dividen 12-Jun-19 13-Jun-19 14-Jun-19 27-Jun-19 25 AKPI Cash Dividen 13-Jun-19 14-Jun-19 17-Jun-19 21-Jun-19 12 BFIN Cash Dividen 13-Jun-19 14-Jun-19 17-Jun-19 28-Jun-19 49 BISI Cash Dividen 13-Jun-19 14-Jun-19 17-Jun-19 24-Jun-19 100 LSIP Cash Dividen 13-Jun-19 14-Jun-19 17-Jun-19 27-Jun-19 19 NELY Cash Dividen 13-Jun-19 14-Jun-19 17-Jun-19 28-Jun-19 6

ICBP Cash Dividen 14-Jun-19 17-Jun-19 18-Jun-19 4-Jul-19 137 INDF Cash Dividen 14-Jun-19 17-Jun-19 18-Jun-19 8-Jul-19 171 KINO Cash Dividen 14-Jun-19 17-Jun-19 18-Jun-19 28-Jun-19 32

Source: KSEI and OSO Research Team



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Research Team

Ike Widiawati Head of Research +62 21 2991 5300 ([email protected])

Rifqiyati Research Analyst +62 21 2991 5300 (Rifqiyati @oso-securities.com)

Sukarno Alatas Research Analyst +62 21 2991 5300 ([email protected])

Mochammad Cahyo Research Analyst +62 21 2991 5300 ([email protected])

Michelle Abadi Research Associate +62 21 2991 5300 ([email protected])

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

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Documents

OSODaily - oso-securities.comoso-securities.com/sipitung/files/OSO Daily 13 Juni 2019.pdf · PT Eka Sari Lorena Transport Tbk (LRNA) tidak melanjutkan kerjasama dengan PT Transjakarta