OSODailyoso-securities.com/sipitung/files/OSO Daily 18 Oktober... · 2019-10-18 · merilis laporan keuangan sebesar 82% diantaranya berhasil mencatatkan kinerja laba positif atau

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OSODaily 18 Oktober 2019

ODAY TOP STOCK TRADED (LQ45) JAKARTA COMPOSITE INDEX

6,181.01 11.42

0.19%

Previous 6,169.59 Lowest

6,161.39 Highest 6,197.94 Val IDR bn

9,238

Volbn 16.61 Mkt Cap IDRtr

7,106.88 Net Forg 1DIDRbn 208.67 Net ForgYTDIDRbn

49,272.00

Return YTD (%) (0.22) Month to date (%)

0.19

Indices

Last Chg% 6,306.74 Americas

Dow Jones United States 27,025.88 0.09 15.85 S&P 500 United States 2,997.95 0.28 19.59 Nasdaq United States 8,156.85 0.40 22.93 EIDO United States 24.75 0.28 (0.28) EMEA

FTSE 100 United Kingdom 7,182.32 0.20 6.75

CAC 40 France 5,673.07 (0.42) 19.92 D DAX Germany 12,654.95 (0.12) 19.85

Asia Pacific

Nikkei Japanese 22,451.86 0.51 12.75 Shanghai China 2,978.71 (0.05) 19.38 TWSE Taiwan 11,162.83 0.22 15.00 KOSPI Korea 2,077.94 0.20 2.01 KLSE Malaysia 1,574.90 (0.03) (6.87) ST – Times Singapore 3,134.71 (0.27) 1.87 Sensex India 38,598.99 1.17 8.27 Hangseng Hongkong 26,664.28 0.69 3.88

Sectoral Previous Last Chg% YTD% AGRICULTURE 1,338.50 1,351.50 0.97 (13.61) MINING 1,597.38 1,588.88 (0.53) (10.56) MISC INDUSTRY 1,143.33 1,182.17 3.40 (15.22) BASIC INDUSTRY 890.80 901.70 1.22 5.49 CONSUMER GOODS 2,176.77 2,162.05 (0.68) (15.85) PROPERTY 504.29 503.12 (0.23) 12.37 INFRASTRUKTUR 1,207.77 1,204.53 (0.27) 13.18 FINANCE 1,245.42 1,246.67 0.10 6.04 MANUFAKTURE 1,446.59 1,454.08 0.52 (10.14) TRADE 801.52 805.46 0.49 2.75 LQ 45 962.61 967.77 0.54 (1.52)

Commodities Previous Lastest Chg% YTD%

Oil (USD/bbl) 53.36 53.93 1.07 18.81 Gold (USD tr.oz) 1,490.18 1,491.92 0.12 16.40 Nickel (USD/mtrc ton) 16,450.00 16,270.00 (1.09) 52.20 Tin (USD/mtrc ton) 16,875.00 17,150.00 1.63 (11.94) Copper (USD/mtrc ton) 5,730.00 5,739.00 0.16 (3.79) CPO (MYR/ton) 2,189.00 2,192.00 0.14 9.38 Coal (USD/ton) 68.45 68.70 0.37 (32.98)

Currencies

Last Chg% YTD% IDR / USD

14,155.00 0.08 1.66

IDR / AUD

9,630.71 (0.47) 5.55 IDR / EUR

15,695.50 (0.49) 4.78

IDR /SGD

10,356.37 (0.20) 1.92 IDR / JPY

130.06 0.54 0.44

IDR / GBP

18,114.44 (1.06) 1.13 Global Macro Economics CB Rate CPI YoY GDP YoY United States 2.00 1.70 2.30 Euro Area 0.00 0.80 1.20 United Kingdom 0.75 1.70 1.30 Japan 0.10 0.30 1.00 China 4.35 3.00 6.20 Domestic macro Economics Lastest Chg% YTD% Jibor 5.00 (15.02) 28.20 GovBonds (5y) 6.64 0.08 (16.09) GovBonds (10y) 7.16 (0.31) (10.78)

Inflasi YoY 3.39

Inflasi MoM (0.27) Bi rate 5.25 GDP Growth YoY (%) 5.05

Foreign Reserve (Bn) 124.33 Government Bonds Yield% Wow% Ytd% 7 Year 7.16 6.95 6.95 15 Year 7.59 7.59 7.59 20 Year 7.80 7.80 7.80 30 Year 7.98 7.98 7.98

Source: Bloomberg LP & OSO Research Team

Market Review Pada perdagangan kemarin (17/10) IHSG ditutup menguat sebesar 0.19% ke level 6,181.01. Enam dari sepuluh indeks sektoral berakhir dalam zona hijau, dimana sektor Aneka Industri dan Industri Dasar memimpin penguatan masing-masing sebesar 3.44% dan 1.22%. Adapun saham yang menjadi penggerak indeks diantaranya ; ASII, BBRI, BMRI, CPIN, ICBP. Pelaku pasar asing membukukan aksi beli bersih (Netbuy) senilai Rp 208 miliar. Nilai tukar rupiah terapresiasi sebesar 0.08% ke level Rp 14,155. Global Review Pada perdagangan semalam (17/10) bursa saham Wall Street kompak ditutup dalam zona hijau, dimana Nasdaq memimpin penguatan sebesar 0.40% disusul S&P dan Dow Jones yang masing-masing naik sebesar 0.28% dan 0.09%. Penguatan tersebut terjadi seiring dengan optimisme pasar terhadap rilis laporan keuangan emiten Kuartal III 2019, tercatat dari 63 emiten S&P yang sudah merilis laporan keuangan sebesar 82% diantaranya berhasil mencatatkan kinerja laba positif atau lebih tinggi dibandingkan Kuartal III 2018, sementara itu saat ini pasar tengah menantikan rilisnya laporan keuangan beberapa emiten seperti Facebook, Google, Amazon dan emiten besar lainnya. Sedangkan dari sisi ekonomi AS, kenaikan Indeks sedikit tertahan karena terbebani dari beberapa rilisnya data ekonomi semalam, dimana produksi pabrik bulan september turun sebesar 0.5% dibandingkan bulan sebelumnya tumbuh sebesar 0.6%, kemudian produksi industri bulan September juga turun sebesar 0.4% dibandingkan bulan sebelumnya tumbuh sebesar 0.8%. JCI Prediction IHSG ditutup menguat sebesar 0.18% ke level 6.181. IHSG ditutup bullish candle. Adapun indikator Stochastic overbought dan MACD histogram bergerak positif dengan Volume meningkat. Kami perkirakan IHSG bergerak mixed cenderung melemah antisipasi aksi profit taking dengan pergerakan di kisaran 6.143 - 6.213. Major Economic Release

Industrial Production United States pada

September 2019 turun sebesar 0.1%

dibandingkan sebelumnya yang tumbuh sebesar

0.4% (YoY).

Manufacturing Production United States pada

September 2019 turun sebesar 0.5%

dibandingkan sebelumnya yang tumbuh sebesar

0.6% (MoM).

Housing Starts United States pada September

2019 turun sebesar 9.4% dibandingkan

sebelumnya yang tumbuh sebesar 15.1% (MoM).



TODAY TOP STOCK TRADED (LQ45)

Top Gainers

Last Chg% YTD% MC (T) Beta

SRIL IJ Equity

294 - (17.88) 6.01 0.65

SMGR IJ Equity

12,700 0.79 10.43 74.74 1.54

UNVR IJ Equity

44,750 (1.86) (1.43) 347.93 1.07

BSDE IJ Equity

1,410 - 12.35 27.14 1.62

INTP IJ Equity

20,350 2.39 10.30 73.16 1.73

Top Losers

Last Chg% YTD% MC (T) Beta

BTPS IJ Equity

3,670 1.38 104.46 27.89 0.40

UNTR IJ Equity

20,375 0.12 (25.50) 75.91 0.94

ANTM IJ Equity

955 (0.52) 24.84 23.07 1.74

ITMG IJ Equity

12,450 (1.78) (38.52) 14.32 1.38

INCO IJ Equity

3,510 (2.23) 7.67 35.67 1.81

Top Volume

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

SRIL IJ Equity

294 250.4 (17.9) 6.01 0.65

BBRI IJ Equity

4,050 104.5 10.7 492.15 1.64

BMRI IJ Equity

6,700 75.0 (9.2) 309.17 1.58

ANTM IJ Equity

955 57.8 24.8 23.07 1.74

ERAA IJ Equity

1,695 53.8 (23.0) 5.07 0.97

Top Value

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

BBCA IJ Equity

30,575 402.2 17.6 766.15 1.00

BMRI IJ Equity

6,700 398.6 (9.2) 309.17 1.58

BBRI IJ Equity

4,050 332.1 10.7 492.15 1.64

TLKM IJ Equity

4,170 294.2 12.8 413.09 0.78

BBNI IJ Equity

7,375 241.5 (16.2) 135.20 1.64

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

IHSG

Indonesia 6,181 19.43 2.10 6,800

Nikkei

Japanese 22,452 16.12 1.72 23,955

Shanghai

China 2,977 14.45 1.50 3,282

TWSE

Taiwan 11,187 17.88 1.71 11,682

KOSPI

Korea 2,078 13.56 0.83 2,552

KLSE

Malaysia 1,575 19.05 1.59 1,687

ST - Times

Singapore 3,126 11.55 1.05 3,555

Sensex

India 39,087 26.65 2.89 43,412

Hangseng

Hongkong 26,848 10.38 1.18 31,988

JAKARTA COMPOSITE INDEX MOVERS

Movers

Latest Chg% YTD% MC (T) Beta

ASII IJ Equity

6625 3.92 (19.45) 268 1.28

BBRI IJ Equity

4050 1.50 10.66 500 1.64

BMRI IJ Equity

6700 1.13 (9.15) 313 1.58

CPIN IJ Equity

5800 3.11 (19.72) 95 1.52

ICBP IJ Equity

11550 1.99 10.53 135 0.57

Laggard


BBCA IJ Equity

30575 (1.61) 17.60 754 1.00

UNVR IJ Equity

44750 (1.86) (1.43) 341 1.07

HMSP IJ Equity

2270 (1.30) (38.81) 264 1.31

GGRM IJ Equity

54100 (1.01) (35.31) 104 1.06

BRPT IJ Equity

940 (1.05) 96.65 84 1.34

Movers


OSO MANAJEMEN INVESTASI

Mutual Fund Latest 1 Month (%) YTD% Oso Sustainability Fund

1,371.04 (3.56) (9.17)

Oso Syariah Equity Fund

984.71 (15.46) 101.75

Source: Bloomberg LP & OSO Research Team



COMPARATION OF JCI PERFORMANCE (SEAG)


OSODaily 05 April 2019


MACRO ECONOMIC & INDUSTRY NEWS

Penerimaan pajak Usaha Mikro Kecil Menengah (UMKM) sepanjang Januari-Agustus turun. Pemerintah beralasan

hal tersebut terjadi lantaran sejak diberlakukannya penurunan tarif pajak UMKM dari 1% menjadi 0,5%.

Berdasarkan data Kementerian Keuangan Penerimaan Pajak Penghasilan (PPh) Final UMKM pada laporan Anggaran

Pendapatan dan Belanja Negara (APBN) Agustus mencapai Rp 4,84 triliun. Angka tersebut lebih terkontraksi 21,8%

dibandingkan pencapaian periode sama tahun 2018 sebesar Rp 6,19 triliun.

Harga emas kembali menembus level US$ 1.490, lantaran investor fokus pada ketidakpastian yang melekat atas

hubungan perdagangan Amerika Serikat (AS)-China. Harga emas di pasar spot naik 0,42% menjadi US$ 1.496,50 per

ons troi. Sementara harga emas berjangka AS naik 0,32% ke level US$ 1.498,80. Sedang harga emas dalam mata

uang sterling merosot sedalam 1,6% ke level terendah sejak 26 Juli di £ 1.141,86 per ons troi, setelah Inggris dan

Uni Eropa menyetujui kesepakatan Brexit baru.

CORPORATES NEWS PT Indika Energy Tbk (INDY} mulai melirik bisnis lain di luar penambangan batubara. INDY ini pun telah memiliki

dua anak usaha yang bergerak di bidang teknologi yang dimaksud adalah PT Xapiens Teknologi Indonesia (Xapiens)

serta PT Zebra Cross Teknologi (ZebraX). Pada dasarnya INDY berupaya terus melihat peluang untuk diversifikasi

usaha selain penambangan batubara yang menjadi bisnis utama perusahaan ini.

Penjualan semen PT Indocement Tunggal Prakarsa Tbk (INTP) sepanjang September 2019 mengalami kenaikan.

Tercatat, penjualan semen untuk periode September 2019 sebanyak 1,69 juta ton atau naik 6,2% dibandingkan

realisasi penjualan semen sepanjang Agustus 2019 yang sebesar 1,6 juta ton.

PT Tiphone Mobile Indonesia Tbk (TELE) menjalin kerjasama strategis bersama PT Bank Negara Indonesia Tbk

(BBNI). Sedikitnya 250.000 reseller TELE di seluruh Indonesia bakal memperoleh dana pengembangan usaha

berupa kredit BNI Wira Usaha (BWU) dari BBNI.

Laba PT Unilever Indonesia Tbk (UNVR) di kuartal III-2019 turun 24,31% bila dibandingkan periode yang sama

tahun lalu (yoy). Dalam laporan keuangan sembilan bulan ini, Unilever Indonesia hanya mencatatkan laba bersih Rp

5,51 triliun. Padahal di kuartal III-2018 membukukan laba Rp 7,28 triliun.

Likuiditas PT Kota Satu Properti Tbk (SATU) pada semester I-2019 terbilang cukup ketat. Posisi kas pada semester

I-2019 hanya sebesar Rp 5,97 miliar. Turun 84,32% dari posisi awal periode yang tercatat Rp 38,07 miliar. Salah

satu penyebabnya adalah penurunan kas operasi yang signifikan. Pada semester I-2019, kas operasi SATU tercatat

negatif Rp 19,48 miliar. Padahal di Juni 2018, arus kas operasi masih positif Rp 3,24 miliar.

PT Logindo Samudramakmur Tbk (LEAD) tengah mengoptimalkan kinerja dari aset yang ada saat ini. Perusahaan

terus meningkatkan utilisasi kapal dari kuartal sebelumnya. Saat ini, LEAD memiliki total kapal sebanyak 44 unit

dengan tingkat utilisasi pada kuartal III-2019 menembus 70%. Padahal pada awal tahun ini tingkat utilisasi armada

mereka berada di sekitar 50%.

PT Arwana Citramulya Tbk (ARNA) membukukan pertumbuhan pendapatan dan laba yang positif pada sembilan

bulan pertama tahun ini. Melansir laporan keuangan kuartal III ARNA, pendapatan ARNA tumbuh 11,48% secara

year on year (yoy) dari sebelumnya Rp 1,46 triliun di kuartal III 2018 menjadi Rp 1,63 triliun.

Sumber: Kontan, Bisnis Indonesia, Iqplus

NOTE: Positive Sentiment Negative Sentiment Netral




Technical

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

Recommendation : Buy Entry Buy : 1.395 - 1.410 Target Price : 1.440 - 1.450 Support : 1.385 - 1.395 Cutloss : 1.380

DAILY TECHNICAL

BSDE Optimis Target Marketing Sales 2019 Tercapai Demi mengejar target tahun ini, pada kuartal IV/2019, PT Bumi Serpong Damai Tbk (BSDE ) berencana meluncurkan produk baru. Adapun, mengacu data keuangan Juni 2019, marketing sales BSDE baru mencapai Rp 2,73 triliun atau setara 44% dari target tahun ini yang sebesar Rp 6,2 triliun. Meski demikian, manajemen menegaskan tidak akan merevisi targetnya, lantaran pada akhir September 2019 BSDE akan meluncurkan proyek barunya yaitu Fleek Hauz. Fleek Hauz merupakan kompleks perumahan yang mengusung konsep simple dan stylish sesuai dengan pasar yang dibidik yaitu milenial.

Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 1.440. Apabila break 1.440 next harga ke level 1.450. Hati-hati jika harga tidak mampu break up atau menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 1.380 jika sudah melewati support 1.385 - 1.395.

|BSDE|PE : 6.50x | PBV : 0.83x | ROE: 12.83% | NPM : 58.10% | DER : 0.63x | Fair Value : -|

Souce: OSO Research Team

BUY

NOTE:

https://stocks.asia/go?h=4c2a02b45a36c2a0e5bf06d0f2b81804




Technical

Medium/Minor trend : Uptrend MACD line/histogram : Ke Arah Positif Stochastic : Bullish Volume : Meningkat Recommendation : Buy Entry Buy : 1.145 - 1.170 Target Price : 1.205 - 1.225 Support : 1.135 - 1.145 Cutloss : 1.130

DAILY TECHNICAL

BUY |SCMA|PE : 11.04x | PBV : 3.08x | ROE: 27.85% | NPM : 28.28% | DER : 0.22x | Fair Value : -|

Pangsa Pemirsa Trans Group Naik Signifikan, Caplok Pasar Pesaing Pangsa pemirsa televisi Trans Group naik signifikan pada September 2019. Pangsa pemirsa Trans Group naik signifikan, terutama untuk waktu prime time. Dua stasiun televisinya, Trans dan Trans 7 membukukan kenaikan pangsa masing-masing 120 basis poin (bps) dan 170 bps. Sedangkan di luar waktu prime time, pangsa pemirsa Trans Group naik 170 bps menjadi 18,8%. Sehingga all time audience share (pangsa pemirsa untuk keseluruhan waktu) Trans Group naik cukup signifikan sebesar 220 bps secara bulanan.


Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 1.205. Apabila berhasil menguji 1.205 next harga ke level 1.225. Hati-hati jika harga tidak mampu break up atau berbalik menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 1.130 jika sudah melewati support 1.135 - 1.145.

NOTE:

https://stocks.asia/go?h=fa7e604b52d051d719f348e7c9e7424b




Technical

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

Recommendation : Buy Entry Buy : 348 - 364 Target Price : 384 - 412 Support : 340 - 348 Cutloss : 338

DAILY TECHNICAL

BUY |TELE|PE : 7.74x | PBV : 0.65x | ROE: 8.29% | NPM : 1.35% | DER : 1.09x | Fair Value : - |

TELE Kerjasama Dengan Perusahaan Platform Grab Indonesia Tiphone Mobile Indonesia Tbk (TELE) bekerjasama dengan perusahaan platform Grab Indonesia (Grab) dengan meluncurkan GrabGift. GrabGift shop yang berada dalam aplikasi Grab merupakan e-voucher yang memiliki normal potongan untuk layanan GrabCar. GrabGift, merupakan langkah perseroan dalam mendukung mitra bisnis melalui kolaborasi dengan grab sebagai salah satu distributor resmi GrabGift. GrabGift dapat ditemukan di portal GrabGift Shop ataupun mitra reseller TIPhone (Telesindo Shop, Simpatindo, Megafon, dan Teleshop).


Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 384. Apabila break 384 next harga ke level 412. Hati-hati jika harga tidak mampu break up atau menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 338 jika sudah melewati support 340 - 348.

NOTE:

https://stocks.asia/go?h=33cdfba2d15efc63da8fa6437b8b6a03




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 940 (1.05) 96.65 4.99 112.49 8.85 0.60 3.53 98.23 633 -33% Sell

CPIN IJ Equity 5,800 3.11 (19.72) 4.96 24.73 15.29 13.99 21.19 22.95 4,753 -18% Sell

INKP IJ Equity 6,975 - (39.61) 0.70 6.84 2.74 4.61 10.66 113.83 11,300 62% Buy

INTP IJ Equity 20,350 2.39 10.30 3.43 52.36 28.18 5.47 6.48 0.50 19,955 -2% Sell

JPFA IJ Equity 1,655 4.75 (23.02) 1.99 10.24 4.69 8.00 20.16 59.63 1,754 6% Hold

SMGR IJ Equity 12,700 0.79 10.43 2.49 29.07 10.68 4.11 8.74 30.13 14,014 10% Buy

TKIM IJ Equity 10,725 1.42 (3.38) 1.78 11.64 17.72 6.95 16.45 120.71 13,000 21% Buy

TPIA IJ Equity 9,325 1.36 57.38 6.64 117.69 39.43 3.21 5.68 34.35 4,733 -49% Sell

Industry Average in LQ45 3.37 45.63 15.95 5.87 11.61 60.04

Total of Industry Average 1.75 25.46 10.09 2.09 (24.04) 101.08

SECTOR CONSUMER GOODS

GGRM IJ Equity 54,100 (1.01) (35.31) 2.34 12.22 7.21 12.84 20.01 38.38 71,978 33% Buy

HMSP IJ Equity 2,270 (1.30) (38.81) 9.27 18.64 14.07 32.64 50.51 0.33 2,859 26% Buy

ICBP IJ Equity 11,550 1.99 10.53 5.91 27.70 16.50 13.48 22.92 9.06 12,661 10% Buy

INDF IJ Equity 7,650 0.99 2.68 1.92 14.12 5.52 4.98 14.36 59.18 8,664 13% Buy

KLBF IJ Equity 1,655 - 8.88 5.29 31.04 20.61 13.62 17.85 2.34 1,702 3% Hold

UNVR IJ Equity 44,750 (1.86) (1.43) 49.57 46.68 30.53 35.85 92.26 20.26 46,426 4% Hold


Total of Industry Average 5.68 24.53 17.18 9.09 18.08 44.69

SECTOR INFRASTRUCTURE

EXCL IJ Equity 3,530 - 78.28 2.02 130.48 3.92 (5.11) (14.59) 125.77 3,961 12% Buy

JSMR IJ Equity 5,650 (0.44) 32.01 2.32 18.50 6.11 2.50 13.33 157.26 6,566 16% Buy

PGAS IJ Equity 2,230 0.45 5.19 1.52 17.94 3.00 3.11 7.41 109.43 2,403 8% Hold

TLKM IJ Equity 4,170 - 12.77 4.40 20.24 6.31 9.77 22.82 37.58 4,751 14% Buy


Total of Industry Average 3.05 39.12 213.54 (3.05) (62.33) 131.60

Source: Bloomber LP





SECTOR MINING

ADRO IJ Equity 1,315 (1.13) 8.23 0.79 5.71 2.28 7.45 14.21 32.95 1,525 16% Buy

AKRA IJ Equity 4,230 1.20 (1.40) 2.05 23.39 13.41 4.78 11.01 42.61 4,870 15% Buy

ANTM IJ Equity 960 (2.54) 25.49 1.17 25.76 8.58 2.76 4.64 50.26 1,181 23% Buy

INCO IJ Equity 3,590 (2.45) 10.12 1.35 479.48 21.07 0.23 0.27 1.94 3,988 11% Buy

INDY IJ Equity 1,300 (0.38) (17.98) 0.52 29.52 0.99 0.46 1.74 129.53 2,167 67% Buy

ITMG IJ Equity 12,675 (2.50) (37.41) 1.10 4.27 2.37 17.45 25.70 - 15,942 26% Buy

MEDC IJ Equity 650 (0.76) (5.11) 0.65 9.06 1.26 (1.14) (5.07) 202.38 1,043 61% Buy

PTBA IJ Equity 2,260 - (47.44) 1.56 5.48 3.77 19.91 29.69 5.12 3,055 35% Buy



SECTOR MISC INDUSTRY

ASII IJ Equity 6,375 (0.39) (22.49) 1.85 12.23 6.63 6.40 15.79 49.27 7,879 24% Buy

SRIL IJ Equity 294 2.08 (17.88) 0.74 4.59 2.02 6.72 17.23 139.64 Neutral #VALUE! #VALUE!



SECTOR PROPERTY

BSDE IJ Equity 1,410 1.44 12.35 0.94 9.00 8.90 5.69 11.01 46.06 1,726 22% Buy

CTRA IJ Equity 1,165 1.30 15.35 1.49 16.59 8.12 3.84 9.39 50.80 1,361 17% Buy

PTPP IJ Equity 1,685 (0.59) (6.65) 0.82 7.55 3.51 2.84 11.34 74.03 2,527 50% Buy

PWON IJ Equity 620 0.81 - 2.19 10.75 8.37 11.10 22.42 36.44 767 24% Buy

WIKA IJ Equity 1,910 (0.52) 15.41 1.12 8.13 4.17 3.70 14.89 78.93 2,789 46% Buy

WSKT IJ Equity 1,575 0.32 (6.25) 1.19 10.85 4.24 1.58 11.35 224.10 2,200 40% Buy



Source: Bloomber LP





SECTOR MINING

ADRO IJ Equity 1,320 0.38 8.64 0.79 5.75 2.29 7.45 14.21 32.95 1,511 14% Buy

AKRA IJ Equity 4,240 0.24 (1.17) 2.06 23.44 13.44 4.78 11.01 42.61 4,870 15% Buy

ANTM IJ Equity 955 (0.52) 24.84 1.16 25.62 8.53 2.76 4.64 50.26 1,181 24% Buy

INCO IJ Equity 3,510 (2.23) 7.67 1.33 470.17 20.66 0.23 0.27 1.94 3,988 14% Buy

INDY IJ Equity 1,315 1.15 (17.03) 0.53 29.95 1.01 0.46 1.74 129.53 2,167 65% Buy

ITMG IJ Equity 12,450 (1.78) (38.52) 1.09 4.21 2.33 17.45 25.70 - 15,942 28% Buy

MEDC IJ Equity 660 1.54 (3.65) 0.66 9.06 1.28 (1.14) (5.07) 202.38 1,043 58% Buy

PTBA IJ Equity 2,220 (1.77) (48.37) 1.53 5.39 3.71 19.91 29.69 5.12 3,055 38% Buy



SECTOR MISC INDUSTRY

ASII IJ Equity 6,625 3.92 (19.45) 1.92 12.71 6.89 6.40 15.79 49.27 7,879 19% Buy

SRIL IJ Equity 294 - (17.88) 0.74 4.60 2.02 6.72 17.23 139.64 Neutral #VALUE! #VALUE!



SECTOR PROPERTY

BSDE IJ Equity 1,410 - 12.35 0.94 9.00 8.90 5.69 11.01 46.06 1,726 22% Buy

CTRA IJ Equity 1,135 (2.58) 12.38 1.45 16.16 7.91 3.84 9.39 50.80 1,361 20% Buy

PTPP IJ Equity 1,700 0.89 (5.82) 0.82 7.62 3.54 2.84 11.34 74.03 2,527 49% Buy

PWON IJ Equity 620 - - 2.19 10.75 8.37 11.10 22.42 36.44 767 24% Buy

WIKA IJ Equity 1,900 (0.52) 14.80 1.11 8.09 4.15 3.70 14.89 78.93 2,789 47% Buy

WSKT IJ Equity 1,575 - (6.25) 1.19 10.85 4.24 1.58 11.35 224.10 2,200 40% Buy



Source: Bloomber LP





SECTOR TRADE

ERAA IJ Equity 1,695 6.60 (22.95) 1.16 10.54 4.50 4.54 11.78 88.81 1,940 14% Buy

LPPF IJ Equity 4,200 (0.47) (25.00) 6.51 13.08 7.01 15.33 45.23 - 4,611 10% Buy

MNCN IJ Equity 1,300 (1.52) 88.41 1.53 7.89 4.59 12.35 20.53 42.22 1,574 21% Buy

SCMA IJ Equity 1,170 4.93 (37.43) 3.44 12.03 8.70 20.52 29.07 0.33 1,811 55% Buy

UNTR IJ Equity 20,375 0.12 (25.50) 1.39 6.77 3.04 10.84 21.57 17.95 28,228 39% 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 30,575 (1.61) 17.60 4.72 27.61 88.15 1.40 6.53 6.30 31,629 3% Hold

BBRI IJ Equity 4,050 1.50 10.66 2.63 14.72 90.10 2.27 7.35 64.57 4,715 16% Buy

BBNI IJ Equity 7,375 1.72 (16.19) 1.20 9.04 92.85 1.90 5.14 82.33 9,509 29% Buy

BBTN IJ Equity 1,905 (0.26) (25.00) 0.82 7.51 103.45 2.82 3.81 188.00 2,420 27% Buy

BMRI IJ Equity 6,700 1.13 (9.15) 1.68 11.86 100.47 2.75 5.36 56.75 8,877 32% Buy

BTPS IJ Equity 3,670 1.38 104.46 7.07 28.23 454.49 1.39 38.72 149.94 3,704 1% Hold



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

ADRO IJ Equity 1,320 8.6 Negatif Trading Negatif 1,225 1,305 1,380 1,315 1,305 1,290 1,330 1,340 1,270 Sell

AKRA IJ Equity 4,240 (1.2) Negatif OverBought Positif 3,560 3,985 4,410 4,250 4,210 4,180 4,280 4,320 4,115 Sell

ANTM IJ Equity 955 24.8 Positif Trading Positif 915 990 1,065 955 935 925 965 985 910 Speculative Buy

ASII IJ Equity 6,625 (19.5) Negatif Trading Negatif 6,225 6,475 6,725 6,475 6,350 6,175 6,650 6,775 6,100 Sell

BBCA IJ Equity 30,575 17.6 Negatif OverBought Positif 29,625 30,350 31,050 30,775 30,500 30,250 31,025 31,300 29,800 Sell

BBNI IJ Equity 7,375 (16.2) Negatif Trading Positif 6,500 7,175 7,850 7,325 7,225 7,150 7,400 7,500 7,025 Hold

BBRI IJ Equity 4,050 10.7 Negatif Trading Positif 3,780 4,025 4,270 4,025 3,995 3,965 4,055 4,085 3,905 Hold

BBTN IJ Equity 1,905 (25.0) Negatif Oversold Positif 1,660 1,990 2,320 1,905 1,880 1,865 1,920 1,945 1,835 Speculative Buy

BMRI IJ Equity 6,700 (9.2) Negatif Trading Positif 6,200 6,725 7,250 6,675 6,625 6,600 6,700 6,750 6,500 Hold

BRPT IJ Equity 940 96.7 Negatif Trading Negatif 885 965 1,040 940 930 910 960 970 895 Sell

BSDE IJ Equity 1,410 12.4 Positif Trading Positif 1,300 1,370 1,440 1,410 1,400 1,390 1,420 1,430 1,365 Speculative Buy

BTPS IJ Equity 3,670 104.5 Negatif Trading Positif 2,890 3,420 3,950 3,690 3,570 3,500 3,760 3,880 3,450 Hold

CPIN IJ Equity 5,800 (19.7) Negatif OverBought Positif 4,865 5,225 5,600 5,700 5,575 5,425 5,850 5,975 5,350 Sell

CTRA IJ Equity 1,135 12.4 Negatif OverBought Positif 1,020 1,095 1,170 1,150 1,130 1,110 1,170 1,190 1,090 Sell

ERAA IJ Equity 1,695 (23.0) Negatif Trading Negatif 1,425 1,750 2,080 1,650 1,600 1,550 1,700 1,750 1,525 Sell

EXCL IJ Equity 3,530 78.3 Negatif Trading Positif 3,295 3,435 3,575 3,530 3,505 3,460 3,575 3,600 3,405 Hold

GGRM IJ Equity 54,100 (35.3) Negatif Trading Positif 48,425 52,200 55,950 54,425 53,675 53,000 55,100 55,850 52,200 Hold

HMSP IJ Equity 2,270 (38.8) Negatif Trading Positif 2,105 2,255 2,400 2,295 2,260 2,215 2,340 2,375 2,180 Hold

ICBP IJ Equity 11,550 10.5 Negatif Oversold Negatif 11,300 11,900 12,475 11,450 11,325 11,225 11,550 11,675 11,050 Speculative Buy

INCO IJ Equity 3,510 7.7 Positif Trading Positif 3,360 3,640 3,915 3,515 3,470 3,435 3,550 3,595 3,385 Speculative Buy

INDF IJ Equity 7,650 2.7 Positif Trading Negatif 7,525 7,700 7,875 7,625 7,575 7,525 7,675 7,725 7,400 Hold

INDY IJ Equity 1,315 (17.0) Negatif Trading Positif 1,235 1,320 1,410 1,310 1,305 1,290 1,325 1,330 1,270 Hold

INKP IJ Equity 6,975 (39.6) Negatif Trading Positif 5,775 6,475 7,175 6,950 6,900 6,750 7,100 7,150 6,650 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 20,350 10.3 Negatif Trading Positif 17,175 19,050 20,900 20,125 19,800 19,300 20,625 20,950 19,025 Hold

ITMG IJ Equity 12,450 (38.5) Positif Trading Positif 11,950 12,575 13,225 12,575 12,425 12,225 12,775 12,925 12,050 Speculative Buy

JPFA IJ Equity 1,655 (23.0) Negatif Trading Positif 1,445 1,530 1,620 1,620 1,575 1,535 1,660 1,705 1,510 Hold

JSMR IJ Equity 5,650 32.0 Negatif Trading Positif 5,375 5,600 5,825 5,650 5,625 5,550 5,725 5,750 5,475 Hold

KLBF IJ Equity 1,655 8.9 Negatif Trading Negatif 1,640 1,660 1,685 1,655 1,655 1,645 1,665 1,665 1,620 Sell

LPPF IJ Equity 4,200 (25.0) Negatif OverBought Positif 2,775 3,575 4,375 4,200 4,160 4,110 4,250 4,290 4,050 Sell

MEDC IJ Equity 660 (3.6) Negatif Oversold Positif 595 680 760 655 650 635 670 675 625 Speculative Buy

MNCN IJ Equity 1,300 88.4 Negatif OverBought Positif 1,200 1,260 1,320 1,315 1,295 1,275 1,335 1,355 1,255 Sell

PGAS IJ Equity 2,230 5.2 Negatif OverBought Positif 1,965 2,135 2,305 2,240 2,215 2,200 2,255 2,280 2,165 Sell

PTBA IJ Equity 2,220 (48.4) Positif Trading Positif 2,130 2,285 2,440 2,235 2,200 2,165 2,270 2,305 2,135 Speculative Buy

PTPP IJ Equity 1,700 (5.8) Negatif Trading Positif 1,555 1,675 1,800 1,695 1,675 1,660 1,710 1,730 1,635 Hold

PWON IJ Equity 620 - Positif Trading Positif 580 635 690 620 610 605 625 635 595 Speculative Buy

SCMA IJ Equity 1,170 (37.4) Negatif Trading Negatif 1,080 1,160 1,240 1,145 1,125 1,095 1,175 1,195 1,080 Sell

SMGR IJ Equity 12,700 10.4 Negatif Trading Positif 10,725 11,850 12,975 12,650 12,550 12,350 12,850 12,950 12,150 Hold

SRIL IJ Equity 294 (17.9) Negatif Oversold Negatif 267 304 342 296 290 286 300 306 282 Speculative Buy

TKIM IJ Equity 10,725 (3.4) Negatif Trading Positif 9,525 10,200 10,850 10,650 10,575 10,375 10,850 10,925 10,225 Hold

TLKM IJ Equity 4,170 12.8 Negatif Trading Negatif 4,065 4,205 4,350 4,165 4,145 4,125 4,185 4,205 4,060 Sell

TPIA IJ Equity 9,325 57.4 Negatif OverBought Positif 7,800 8,450 9,075 9,250 9,175 9,075 9,350 9,425 8,950 Sell

UNTR IJ Equity 20,375 (25.5) Negatif Trading Positif 19,500 20,725 21,925 20,375 20,175 20,000 20,550 20,750 19,700 Hold

UNVR IJ Equity 44,750 (1.4) Negatif Trading Negatif 43,350 45,625 47,900 45,275 44,550 44,025 45,800 46,525 43,375 Sell

WIKA IJ Equity 1,900 14.8 Negatif Trading Positif 1,785 1,905 2,025 1,910 1,895 1,885 1,920 1,935 1,855 Hold

WSKT IJ Equity 1,575 (6.3) Negatif Trading Positif 1,460 1,575 1,690 1,575 1,555 1,540 1,590 1,610 1,520 Hold

source: Bloomberg Lp



MAJOR ECONOMIC RELEASE CALENDAR

Date Event Country Act Prev Cons

17-Oct-19 GB Retail Sales MoM SEP GBR 0% -0.30% 0%

GB Retail Sales YoY SEP GBR 3.10% 2.60%

US Industrial Production YoY SEP USD -0.10% 0.40%

US Industrial Production MoM SEP USD -0.40% 0.80%

US Manufacturing Production YoY SEP USD -0.90% -0.40%

US Manufacturing Production MoM SEP USD -0.50% 0.60%

US Building Permits MoM SEP USD -12.30% 7.10% -26%

US Housing Starts MoM SEP USD -9.40% 15.1% -8.6%

US Initial Jobless Claims OCT/12 USD 214K 210K 215K

US Continuing Jobless Claims OCT/05 USD 1679K 1684K 1682K

18-Oct-19 Japan, Inflation Rate YoY SEP JPY

0.3% 0.4%

Japan, Inflation Rate MoM SEP JPY

0.00%

Japan, Foreign Bond Investment OCT/12 JPY

¥-428.3B

Japan, Stock Investment by Foreigners OCT/12 JPY

¥1072.5B

China, GDP Growth Rate YoY Q3 CNY

6.2% 6.1%

China, GDP Growth Rate QoQ Q3 CNY

1.6% 1.5%

US CB Leading Index MoM SEP USD

0% 0.1%

21-Oct-19 Japan, Balance of Trade SEP JPY

¥-136.3B ¥487.2B

Japan, Exports YoY SEP JPY

-8.2% -4.9%

Japan, Imports YoY SEP JPY

-12% -5.2%

China, Loan Prime Rate 1Y CNY

4.20% China, Loan Prime Rate 5Y CNY

4.85%

China, House Price Index YoY SEP CNY

8.8% Indonesia, Foreign Direct Investment YoY Q3 IDN

9.6%

Source: Bloomberg Lp

https://tradingeconomics.com/united-kingdom/retail-sales

https://tradingeconomics.com/united-kingdom/retail-sales

https://tradingeconomics.com/united-kingdom/retail-sales-annual

https://tradingeconomics.com/united-states/industrial-production

https://tradingeconomics.com/united-states/industrial-production-mom

https://tradingeconomics.com/united-states/manufacturing-production

https://tradingeconomics.com/united-states/calendar

https://tradingeconomics.com/south-africa/building-permits

https://tradingeconomics.com/united-states/housing-starts

https://tradingeconomics.com/united-states/jobless-claims

https://tradingeconomics.com/united-states/continuing-jobless-claims

https://tradingeconomics.com/japan/inflation-cpi

https://tradingeconomics.com/china/gdp-growth-annual

https://tradingeconomics.com/china/gdp-growth

https://tradingeconomics.com/japan/balance-of-trade

https://tradingeconomics.com/japan/exports

https://tradingeconomics.com/japan/imports



CORPORATE ACTION

RUPS

Date Time Company Event Place

14-Oct-19 10:00 IBST RUPSLB TBA

15-Oct-19 10:00 IPCM RUPSLB Ruang Seminar II BEI

16-Oct-19 9:30 PJAA RUPSLB MPH Candi Bentar Ancol

17-Oct-19 10:00 IKAI RUPSLB Hotel The Westin

18-Oct-19 10:00 SSTM RUPSLB Kantor Perseroan, Sumedang, Bandung

13:30 VOKS RUPSLB Gedung Menara Karya Lt 3

14:00 ZINC RUPSLB Hotel Mercure Pantai Indah Kapuk

22-Oct-19 10:00 BSWD RUPSLB Kantor Perseroan 11:00 LIFE RUPSLB Sinarmas Land Plaza Dividend

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

ASII Cash Dividen 4-Oct-19 7-Oct-19 8-Oct-19 30-Oct-19 57

UNTR Cash Dividen 7-Oct-19 8-Oct-19 9-Oct-19 23-Oct-19 408 HEXA Cash Dividen 7-Oct-19 8-Oct-19 9-Oct-19 25-Oct-19 US$ 0.0358 AUTO Cash Dividen 8-Oct-19 9-Oct-19 10-Oct-19 23-Oct-19 19 ASGR Cash Dividen 9-Oct-19 10-Oct-19 11-Oct-19 23-Oct-19 25

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

Digital Mediatama Maxima Tbk Trimegah Sekuritas 14 - 16 Oktober 2019 21-Oct-19 230 2,692

Stock Split

Code Ratio

Cum Date Ex Date Recording Date Trade Date Old New

MDKA 1 5 17-Oct-19 18-Oct-19 21-Oct-19 18-Oct-19

Source: KSEI and OSO Research Team



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 ([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

to securities

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