Volume JCI Index - financial.sinarmassekuritas.co.idfinancial.sinarmassekuritas.co.id/info/research... · 26/11/2019 · Palimanan (Cipali) sebesar 10% oleh perusahaan investasi

1

Today’s Market:

IHSG diperkirakan bergerak mixed dengan kecenderungan

menguat. Bursa AS ditutup menguat pada perdagangan

Senin (25/11). Harga batubara stabil di level USD 66,75 per

Mt. Crude oil naik ke level USD 57,95 per barrel. Rupiah

stabil terhadap Dollar AS di level Rp 14.086. 10Yr Govern-

ment Bonds Yield stabil di level 7,07%.

Dari dalam negeri, bank sentral Indonesia memproyeksi-

kan pertumbuhan ekonomi sebesar 5,10%. Angka ini lebih

tinggi dibandingkan dengan hasil revisi pemerintah dalam

outlook 2019 yang sebesar 5,08%.

Sehubungan dengan emiten, Bank Tabungan Negara

(BBTN) menargetkan penyaluran kredit untuk 2020 di

kisaran 6% - 8%.

Sehubungan dengan emiten, Astra International (ASII) me-

lalui anak usahanya akan menambah kepemilikan saham

dari konsesi tol Cikopo—Palimanan (Cipali) sebesar 10%

oleh perusahaan investasi asal Malaysia, Khazanah Na-

sional Berhad.

Sehubungan dengan emiten, Deltamas (DMAS) akan mem-

bagikan dividen sebesar Rp 21 per saham kepada

pemegang saham perseroan. Keputusan tersebut diambil

oleh Direksi Perseroan. Jadwal Cum dividen di Pasar Reg-

uler adalah tanggal 3 Desember 2019 dan pembayaran

dividen tanggal 18 Desember 2019.

Secara teknikal indeks hari Selasa (26/11), IHSG diprediksi

bergerak di kisaran 6047-6118.

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

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

Tuesday, November 26, 2019

ID X Stat ist ics C lo sing

JCI 6,070.76

Transaction Value Regular M arket (IDR tn) 4.486

Transaction Volume Regular M arket (mn shares) 4,846

Foreign Net Buy (Sell) (IDR bn) (324)

Foreign Net Buy (Sell) 3.06

Total M arket Capitalization (IDR tn) 7,011.29

LQ45 967.76 (0.99) (1.52)

EIDO 24.50 (0.04) (1.29)

IDX 22.11 (0.36) 1.61

DOW JONES 28,066.47 0.68 20.32

S&P 500 3,133.64 0.75 25.00

NASDAQ 8,632.49 1.32 30.10

FTSE 7,396.29 0.95 9.93

NIKKEI 23,292.81 0.78 16.38

HANG SENG 26,993.04 1.50 4.44

STRAITS TIM ES 3,220.63 (0.16) 4.95

KLSE 1,591.35 (0.34) (5.87)

USD/IDR 14,086.00 0.00 (2.16)

EUR/IDR 15,506.87 (0.17) (6.06)

JPY/IDR 129.18 (0.22) (1.11)

SGD/IDR 10,318.38 (0.11) (2.31)

AUD/IDR 9,544.76 (0.28) (6.54)

GBP/IDR 18,166.63 0.28 (0.86)

Crude Oil (USD/barrel) 57.95 8:04:55 AM 27.62

Coal (USD/mn tons) 66.75 11/25/2019 (34.59)

Natural Gas (USD/mmBtu) 2.52 7:58:28 AM (14.35)

Gold (USD/ounce) 1,453.25 8:15:13 AM 13.32

Nickel (USD/mn tons) 14,540.00 8:15:13 AM 36.01

Tins (USD/mn tons) 16,470.00 11/25/2019 (15.43)

CPO (M YR/mn tons) 2,650.00 11/25/2019 32.24

Rubber (JPY/kg) 170.00 8:10:04 AM (1.16)

Wheat (USD/bushel) 529.25 8:05:11 AM 5.22

Corn (USD/bushel) 368.75 8:05:07 AM (1.67)

C o mmo dit ies

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

C hg (%)

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

C hg (%)

P riceLast

T ransact io n

YT D

C hg (%)

IHSG turun sebanyak 29.5 poin (0.48%) ke level 6070.76.

Sementara LQ45 turun sebanyak 9.7 poin (0.99%) ke level

967.76. Foreign net sell sebesar Rp 324.1 miliar.

02,000

4,000

6,000

8,00010,000

12,000

14,00016,000

18,000

3,000

3,500

4,000

4,500

5,000

5,500

6,000

6,500

7,000

Nov-

18

Dec-

18

Jan-

19

Feb-

19

Mar-

19

Apr-

19

May-

19

Jun-

19

Jul-

19

Aug-

19

Sep-

19

Oct-

19

Nov-

19

Millions

Volume JCI Index

2

Daily Corporate and Industry News

International Monetary Fund (IMF) kembali memangkas proyeksi pertumbuhan ekonomi Jepang pada tahun ini men-jadi sebesar 0,8% dari sebelumnya sebesar 0,9%. Source: Bisnis Indonesia Dalam laporan kuartalan yang dirilis kemarin, bank sentral memproyeksikan pertumbuhan ekonomi sebesar 5,10%. Angka ini lebih tinggi dibandingkan dengan hasil revisi pemerintah dalam outlook 2019 yang sebesar 5,08%. Source: Bisnis Indonesia Komisi VII Dewan Perwakilan Rakyat (DPR) meminta pemerintah menunda penyesuaian tarif listrik yang rencananya diterapkan pada awal 2020 mendatang. Padahal penyesuaian tarif listrik berdasarkan keputusan DPR periode 2014-2019. Dalam kesimpulan Rapat Dengar Pendapat Komisi VII DPR juga meminta PT PLN memberi data akurat pelang-gan subsidi dan non subsidi. Source: Investor Daily Menteri Perhubungan (Menhub) Budi Karya Sumadi membuka opsi adanya pemasok bahan bakar avtur selain Per-tamina agar menyediakan harga yang lebih kompetitif. Source: Investor Daily Industri perbankan mulai memberikan rencana bisnis bank (RBB) tahun 2020 ke Otoritas Jasa Keuangan (OJK). Ta-hun depan, perbankan memproyeksikan pertumbuhan kredit yang konservatif karena permintaan (demand) kredit diperkirakan belum meningkat signifikan. Source: Investor Daily Uni-Charm Indonesia membidik perolehan dana sekitar Rp 1,2 triliun dari penawaran umum perdana (initial public offering/IPO) saham. Aksi ini membuat perseroan menjadi yang pertama go public, di luar Jepang dari kelompok usaha Unicharm Corporation. Source: Investor Daily Astra International (ASII) melalui anak usahanya akan menambah kepemilikan saham dari konsesi tol Cikopo—Palimanan (Cipali) sebesar 10% oleh perusahaan investasi asal Malaysia, Khazanah Nasional Berhad. Source: Bisnis Indonesia Deltamas (DMAS) akan membagikan dividen sebesar Rp 21 per saham kepada pemegang saham perseroan. Kepu-tusan tersebut diambil oleh Direksi Perseroan. Jadwal Cum dividen di Pasar Reguler adalah tanggal 3 Desember 2019 dan pembayaran dividen tanggal 18 Desember 2019. Source: Investor Daily Bank Tabungan Negara (BBTN) menargetkan penyaluran kredit untuk 2020 di kisaran 6% - 8%. Source: Bisnis In-donesia Urban Jakarta Propertindo (URBN) menganggarkan dana belanja modal (capital expenditure/ capex) sebesar Rp800 miliar pada 2020. Source: Bisnis Indonesia Barito Pacific (BRPT) berencana menerbitkan obligasi berkelanjutan I tahap I senilai Rp 750 miliar. Obligasi ini ber-tujuan untuk rebalancing profile perseroan. Source: Investor Daily Urban Jakarta Propertindo (URBN) tengah menjajaki akuisisi salah satu perusahaan properti yang memiliki proyek di sekitar stasiun Lintas Rel Terpadu (Light Rail Transit/LRT). Source: Investor Daily


3

World Equity Indices

Source: Bloomberg, Sinarmas Investment Research


WOR LD EQUIT Y IN D IC ES

N O T IC KER

1 INDU Index 28,090.21 21,712.53 4,739.01 20.32 19.32 18.98 4.17 4.07 7,853.62 7,853.62

2 SPX Index 3,133.83 2,346.58 626.79 25.00 20.82 19.10 3.51 3.40 26,798.76 26,798.76

3 CCM P Index 8,633.15 6,190.17 1,997.21 30.10 31.82 26.22 4.64 4.73 13,147.60 13,147.60

4 SPTSX Index 17,048.47 13,776.88 2,710.00 18.92 17.33 15.77 1.82 1.70 2,606.46 1,960.19

5 M EXBOL Index 45,599.57 38,265.51 1,894.84 4.55 16.93 15.37 2.08 2.00 5,408.95 278.58

6 SX5E Index 3,733.45 2,908.70 706.26 23.53 20.03 15.60 1.76 1.72 3,265.57 3,594.09

7 UKX Index 7,727.49 6,536.53 668.16 9.93 17.85 13.56 1.71 1.74 1,973.32 2,543.42

8 CAC Index 5,966.79 4,555.99 1,194.17 25.24 21.22 16.16 1.73 1.68 1,818.74 2,001.71

9 DAX Index 13,374.27 10,279.20 2,687.49 25.45 24.53 15.82 1.65 1.62 1,231.36 1,355.24

10 IBEX Index 9,587.60 8,286.20 780.00 9.13 15.18 13.00 1.31 1.28 585.14 644.00

11 FTSEM IB Index 23,827.58 17,914.03 5,143.22 28.07 14.14 12.08 1.21 1.18 529.90 583.21

12 AEX Index 602.37 472.19 108.78 22.30 17.78 17.74 1.91 1.93 703.51 774.28

13 SM I Index 10,472.94 8,138.56 2,039.32 24.19 24.45 17.71 2.70 2.52 1,254.32 1,258.34

14 AS51 Index 6,875.50 5,410.20 1,137.60 20.15 20.01 17.83 2.18 2.11 2,015.15 1,364.46

15 AS30 Index 6,958.70 5,478.40 1,176.20 20.60 20.64 17.38 2.12 2.10 2,193.35 1,485.12

16 SHSZ300 Index 4,126.09 2,935.83 867.56 28.82 13.66 12.66 1.75 1.67 30,912.54 4,393.23

17 SHASHR Index 3,444.44 2,555.84 433.48 16.60 14.06 11.69 1.42 1.34 32,411.22 4,606.22

18 SZASHR Index 1,881.65 1,287.89 348.46 26.29 33.21 19.21 2.34 2.51 21,780.57 3,095.41

19 HSI Index 30,280.12 24,896.87 1,147.34 4.44 11.45 10.72 1.26 1.16 17,408.21 2,224.15

20 HSCEI Index 11,881.68 9,731.89 504.13 4.98 8.98 8.35 1.19 1.08 12,364.45 1,579.74

21 SENSEX Index 40,931.71 34,426.29 4,820.90 13.37 29.16 22.60 2.95 2.91 73,137.14 1,020.19

22 NIFTY Index 12,103.05 10,333.85 1,211.20 11.15 26.36 21.50 2.91 2.81 89,538.37 1,248.97

23 JCI Index 6,636.33 5,767.40 (123.74) (2.00) 19.00 15.83 2.01 2.12 7,011,290.08 497.64

24 LQ45 Index 1,059.65 888.02 (14.97) (1.52) 16.46 15.69 2.31 2.21 4,554,209.59 323.25

25 KSE100 Index 41,766.93 28,670.98 1,145.61 3.09 8.96 6.63 1.19 1.07 6,235.50 40.14

26 NKY Index 23,591.09 18,948.58 3,486.79 17.42 18.72 17.91 1.79 1.71 383,088.67 3,515.87

27 NEY Index 348.73 284.63 47.21 15.68 14.65 12.88 1.14 1.09 451,915.92 4,147.54

28 TPX Index 1,716.17 1,408.89 219.98 14.72 15.58 14.35 1.23 1.21 648,534.58 5,952.04

29 FBM KLCI Index 1,732.27 1,548.45 (101.01) (5.97) 19.59 16.66 1.60 1.46 1,020.41 244.59

30 NZSE Index 1,892.54 1,505.56 319.00 20.84 26.92 25.07 2.24 2.25 151.64 97.02

31 PCOM P Index 8,419.59 7,332.43 305.60 4.09 16.85 16.74 1.96 1.90 9,697.56 190.93

32 FSSTI Index 3,415.18 2,993.42 162.23 5.29 12.24 13.11 1.08 1.11 563.74 412.81

33 KOSPI Index 2,252.05 1,891.81 91.12 4.46 16.61 15.01 0.83 0.91 1,374,650.65 1,170.04

34 TWSE Index 11,668.20 9,319.28 1,834.17 18.86 18.97 17.64 1.74 1.85 34,766.71 1,139.37

35 SET Index 1,748.15 1,546.62 50.92 3.26 18.92 17.30 1.75 1.79 16,925.24 559.75

36 SET50 Index 1,164.72 1,031.45 44.75 4.28 18.52 17.57 2.04 1.90 11,910.14 393.89

37 VNINDEX Index 1,028.97 861.85 83.81 9.39 16.02 16.41 2.33 2.63 3,327,987.94 143.45

A sia/ P acif ic

A merica

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

Euro pe

H IGH LOW P OIN T %T railing

12M2019E

T railing

12M2019E

D o main

C urrencyUSD

4

LQ45



LQ45 Index

HIGH LOW POINT %Trailing

12M2019E

Trailing

12M2019E

1 ADRO IJ 1,310 1,510 1,010 95 7.82 5.82 6.64 0.77 0.76 41,901,610

2 AKRA IJ 3,310 5,875 3,300 (980) (22.84) 18.39 15.74 1.62 1.54 13,288,640

3 ANTM IJ 815 1,175 595 50 6.54 24.35 20.39 0.98 0.96 19,585,073

4 ASII IJ 6,500 8,775 6,250 (1,725) (20.97) 12.85 12.20 1.84 1.75 263,143,095

5 BBCA IJ 31,375 31,900 24,800 5,375 20.67 27.36 26.77 4.61 4.47 773,550,939

6 BBNI IJ 7,500 10,250 6,650 (1,300) (14.77) 8.99 8.92 1.18 1.17 139,864,923

7 BBRI IJ 4,130 4,730 3,450 470 12.84 15.00 14.48 2.56 2.51 509,418,195

8 BBTN IJ 2,080 2,860 1,780 (460) (18.11) 16.08 15.97 0.91 0.90 22,027,200

9 BMRI IJ 6,975 8,175 6,275 (400) (5.42) 11.98 11.85 1.65 1.66 325,500,000

10 BRPT IJ 1,285 1,300 396 807 168.83 154.38 45.62 6.85 1.01 114,379,351

11 BSDE IJ 1,320 1,580 1,120 65 5.18 8.43 9.81 0.88 0.85 25,405,639

12 BTPS IJ 3,850 4,220 1,650 2,055 114.48 29.62 22.79 7.42 5.66 29,659,245

13 CPIN IJ 6,750 8,825 4,190 (475) (6.57) 30.41 31.56 5.53 5.24 110,686,500

14 CTRA IJ 1,030 1,335 855 20 1.98 18.89 18.96 1.30 1.26 19,117,112

15 ERAA IJ 1,525 2,590 965 (675) (30.68) 13.68 11.99 1.04 0.95 4,864,750

16 EXCL IJ 3,550 3,730 1,875 1,570 79.29 - 62.01 2.01 2.00 37,942,260

17 GGRM IJ 52,175 100,975 49,175 (31,450) (37.61) 10.83 10.36 2.12 2.02 100,389,291

18 HMSP IJ 2,010 4,080 1,995 (1,700) (45.82) 16.68 16.13 7.32 6.47 233,799,335

19 ICBP IJ 11,400 12,550 8,850 950 9.09 26.69 26.60 5.55 5.52 132,945,751

20 INCO IJ 3,290 4,320 2,410 30 0.92 402.77 46.72 1.23 1.19 32,690,554

21 INDF IJ 7,950 8,050 5,850 500 6.71 14.30 14.87 1.92 1.96 69,804,391

22 INDY IJ 1,260 2,260 1,155 (325) (20.50) #N/A N/A 6.39 0.52 0.50 6,564,842

23 INKP IJ 7,375 13,800 5,325 (4,175) (36.15) 9.24 - 0.72 - 40,348,499

24 INTP IJ 20,000 22,875 17,000 1,550 8.40 43.21 45.25 3.29 3.15 73,624,634

25 ITMG IJ 11,525 24,475 11,400 (8,725) (43.09) 5.49 6.44 0.98 1.03 13,022,386

26 JPFA IJ 1,630 3,100 1,280 (520) (24.19) 12.37 11.89 1.90 1.79 19,114,318

27 JSMR IJ 4,980 6,450 3,920 700 16.36 18.69 17.45 1.99 1.93 36,144,199

28 KLBF IJ 1,515 1,690 1,260 (5) (0.33) 27.65 27.15 4.63 4.43 71,015,810

29 LPPF IJ 3,560 7,325 2,940 (2,040) (36.43) 12.81 6.71 5.57 4.41 9,985,384

30 MEDC IJ 650 1,060 615 (35) (5.11) - 9.23 0.65 0.59 11,598,634

31 MNCN IJ 1,355 1,540 675 665 96.38 7.61 8.98 1.52 1.59 19,344,120

32 PGAS IJ 1,915 2,720 1,775 (205) (9.67) 15.26 13.60 1.27 1.19 46,422,488

33 PTBA IJ 2,500 4,520 2,110 (1,800) (41.86) 6.36 6.52 1.62 1.58 28,801,648

34 PTPP IJ 1,505 2,550 1,485 (300) (16.62) 7.98 6.32 0.72 0.65 9,330,846

35 PWON IJ 560 815 560 (60) (9.68) 9.26 10.11 1.87 1.77 26,969,377

36 SCMA IJ 1,210 2,030 1,080 (660) (35.29) 14.48 12.76 3.41 3.36 17,870,224

37 SMGR IJ 12,100 14,450 10,075 600 5.22 31.40 35.31 2.30 2.24 71,771,392

38 SRIL IJ 246 376 244 (112) (31.28) 4.09 3.49 0.61 - 5,031,236

39 TKIM IJ 11,200 14,450 5,575 100 0.90 16.47 - 1.80 - 34,868,104

40 TLKM IJ 3,950 4,500 3,431 252 6.82 19.31 18.32 3.93 3.60 391,295,756

41 TPIA IJ 9,025 9,925 4,680 3,100 52.32 114.35 106.80 6.45 6.41 160,947,520

42 UNTR IJ 22,350 32,000 19,650 (5,000) (18.28) 7.80 7.50 1.49 1.38 83,368,520

43 UNVR IJ 42,075 50,525 40,500 (3,325) (7.32) 43.89 43.02 46.61 45.25 321,032,250

44 WIKA IJ 1,915 2,500 1,360 260 15.71 7.72 8.47 1.09 1.05 17,177,457

45 WSKT IJ 1,370 2,230 1,335 (310) (18.45) 13.41 5.96 1.02 0.86 18,596,313

MARKET CAP

(Mn)LQ45 Index

CHANGE YTD PER (x) PBV (x)

25-Nov-19

52-WEEK

5

Macro data



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

Property (0.97) (3.55) (5.09) 9.43

Basic Industry 1.11 (1.65) 1.40 9.82

Trade 0.20 (0.37) (2.68) (0.49)

Finance (0.71) 0.20 (1.24) 7.92

M iscellaneous Industry (1.48) (1.31) (3.82) (16.68)

Consumer (0.15) (0.92) (3.30) (20.54)

Infrastructure (1.81) (1.54) (8.79) 4.43

Agriculture 0.75 2.37 4.64 (9.14)

M ining (0.43) (1.99) (5.89) (17.19)

Oct-19 Sep-19

2.22 3.61

3.13 3.39

0.02 -0.27

126.70 124.33

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

USD/IDR 14,086.00 - (0.34) 2.16

USD/CNY 7.04 0.04 0.41 (2.24)

USD/EUR 0.91 0.02 0.82 4.14

USD/JPY 109.02 (0.08) (0.06) 0.61

USD/SGD 1.37 (0.01) (0.21) (0.15)

USD/AUD 1.48 0.03 0.92 4.01

USD/GBP 0.78 0.03 (0.27) (1.08)

( in %)

5.79

0.95

1.46

6.49

7.07

7.48

Inflation M oM (in %)

Foreign Reserves (in USD bn)

Secto rs

Eco no mic Indicato rs

Inflation YTD (in %)

Eco no mic P arameters

Inflation YoY (in %)

Indonesia 5-Year Government Bonds Yield



Lending and D epo sit R ates

JIBOR (in IDR)

LIBOR (in GBP)

SIBOR ( in USD)

Technical Corner


JCI : MIXED MENGUAT

Last price : 6.070

Support : 6.047, 6.022

Resistance : 6.086, 6.122

JCI pada hari ini kami perkirakan akan bergerak MIXED MENGUAT dengan range 6.047 - 6.118. JCI bertahandiatas Support Trendline 6.067, berpeluang mencoba Resistance 6.086 dan 6.122, Namun, jika JCI gagalbertahan diatas 6.067, berpeluang menguji Support 6.047 dan 6.022. Indikator MACD dan Stoc oscmengindikasikan pola Downtrend.

Jakarta Composite Index (JCI)

Summary of portfolio:

Stock Recommendation Comment

BBNI HOLD BBNI gagal bertahan diatas Resistance 7.625, berpeluang melanjutkanpelemahan dengan menguji Support 7.450 dan 7.350.

MACD REDUCE MEDC berhasil break Support 640 sebagai level Stop Loss, MEDC masihberpeluang melanjutkan pelemahan dengan menguji Support 635 dan 625.

INDF HOLD INDF bertahan diatas Resistance 7.925, berpeluang mencoba Resistance 8.025dan 8.125. Namun, jika INDF gagal bertahan diatas Resistance 7.925, akan

menguji Support 7.825 dan 7.750.

PTBA HOLD PTBA berhasil breakout Resistance 2.490, berpeluang mencoba Resistance2.520 dan 2.560.

Bank Negara Indonesia Tbk ( BBNI )

Medco Energi Internasional Tbk ( MEDC )


BBNI : HOLD

Last price : 7.500Target price : 7.950 (4.6%)Stop Loss : 7.350 (-3.3%)

BBNI gagal bertahan diatas Resistance 7.625, berpeluang melanjutkan pelemahan dengan menguji Support 7.450 dan7.350. Namun, jika BBNI bertahan diatas 7.625, akan mencoba Resistance Trendline 7.700 dan 7.775. IndikatorMACD dan Indikator Stoc osc mengindikasikan pola Downtrend.

MEDC : REDUCE

Last price : 650Stop loss : 640 (-2.3%)

MEDC berhasil break Support 640 sebagai level Stop Loss, MEDC masih berpeluang melanjutkan pelemahan denganmenguji Support 635 dan 625. Namun, jika MEDC bertahan diatas Resistance 655, berpeluang mencoba Resistance670 dan 685. Indikator MACD mengindikasikan pola Uptrend dan Stoc osc mengindikasikan pola Downtrend.

Support : 7.450, 7.350Resistance : 7.625, 7.700

Support : 635, 625Resistance : 670, 685

INDF : HOLD

Last price : 7.950Target price : 8.025 (4.2%)Stop Loss : 7.500 (-2.6%)

INDF bertahan diatas Resistance 7.925, berpeluang mencoba Resistance 8.025 dan 8.125. Namun, jika INDF gagalbertahan diatas Resistance 7.925, akan menguji Support 7.825 dan 7.750. INDF dilihat dari Indikator MACDmengindikasikan pola Uptrend dan Stoc osc mengindikasikan pola Overbought.

PTBA : HOLD

Last price : 2.500Target price : 2.520 (5.0%)Stop loss : 2.310 (-3.8%)

PTBA berhasil breakout Resistance 2.490, berpeluang mencoba Resistance 2.520 dan 2.560. Namun, jika PTBA gagalbertahan diatas Resistance 2.490, akan menguji Support 2.450 dan 2.400. PTBA dilihat dari Indikator Stochastic danMACD mengindikasikan pola Reversal.



Tambang Batubara Bukit AsamTbk ( PTBA )

Indofood Sukses MakmurTbk ( INDF )


PT Sinarmas Sekuritas

Sinarmas Land Plaza Tower 3, 6th Fl.

Jl. M. H. Thamrin no. 51

Tel: +62 21 392 5550

Fax: +62 21 392 5540

[email protected]

www.sinarmassekuritas.co.id

Equity Research Team

HEAD OF RESEARCH

Evan Lie Hadiwidjaja

Banking, Automotive

Tel: +62 21 3925550 Ext: 615

[email protected]

DEPUTY HEAD OF RESEARCH

Wilbert

Consumer Goods, Plantation, Pulp and Paper

Tel: +62 21 3925550 Ext: 611

[email protected]

EQUITY ANALYST

Richard Suherman

Commodities

Tel: +62 21 3925550 Ext: 610

[email protected]

EQUITY ANALYST

Richardson Raymond

Property, Industrial Estate

Tel: +62 21 3925550 Ext: 159

[email protected]

EQUITY ANALYST

Paulina

Retail, Cement, Digital

Tel: +62 21 3925550 Ext: 610

[email protected]

EQUITY ANALYST

Anthony Angkawijaya

Construction, Infrastructure, Petrochemical

Tel: +62 21 3925550 Ext: 611

[email protected]

TECHNICAL ANALYST

Eddy Wijaya

Tel: +62 21 3925550 Ext: 159

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