TRIM DAILY PT Trimegah Securities Tbk - www.trimegah.com 1
With no major macro/corporate announcement expected this week, strength-
ening USD vs Rupiah, and earnings downgrade cycle still ongoing, we may
continue seeing rather thin volume and sustained downward pressure
(despite Jokowi’s planned visit to Indonesia Stock Exchange today). More
upbeat news on RALS though, which has proposed buyback of up to 8% of
shares outstanding (40% current free float) in an EGM on 16 Sep. Other
companies with balance sheets strong enough for buybacks: TLKM, KLBF,
ITMG, HRUM, INCO.
TRIM Daily
TRIM Highlights
Aug 10, 2015
Jakarta Composite Index (JCI) down 36 poin or 0.7% to 4770 yesterday.
Index movers were mostly driven by miscellaneous Industry infrastructure &
finance. Total transaction value was Rp3.4tr. IDX recorded Rp256bn net sell
by foreign investors. JCI is expected continued to weakening within the
support and resistance levels of 4750-4833.
Technical Market View
U.S. showed solid labor indicator as the unemployment rate for July stood at 5.3%, same level with the previous month and near Fed’s target of 5.0-5.2%. Labor force participation rate also steady at 62.6%.
Global Wrap
Technical analysis: trading picks
JCI 4,770.3
Global Indices
Dual Listing (NYSE)
Others
(USD) (Rp) Chg %
43.4 14,675 0.10 0.2TLKM
Change -0.75%
Transaction Volume (m) 4,101
Transaction Value (Rpbn) 3,428
Mkt Cap (Rptr) 4,897
Market 2015 P/E (x) 12.8
Market Div. Yield (%) 2.4%
Price Chg %
Dow Jones 17,373.4 -46.4 -0.3
Nasdaq 5,043.5 -12.9 -0.3
Nikkei 20,724.6 60.1 0.3
ST Times 3,196.7 0.0 0.0
FTSE 6,718.5 -28.6 -0.4
Hang Seng 24,552.5 177 0.7
Chg %
USD IDR 13,541 12 0.1
10 yr Indo Govt bond (%) 8.45 0.0 0.2
10 yr US govt bond (%) 2.2 -0.04 -2.0
Spread (%) 6.26 0.06 2.2
EIDO 22.2 -0.3 -1.4
Foreign YtD (USDmn) (1,244) -19 2
Stock Price Rating Reason
KLBF 1660 Buy
AALI formed a doji star, MACD indicates positive signal of a potential upside and we expect to continued upward movement for KLBF with support-resistance level at 1610-1720
PWON 408 Buy
MACD indicates positive signal of a poten-tial technical rebound for PWON. PWON’s today trading range is around 404-415 Speculative Buy PWON at level 404
ASRI 505 Sell We expect ASRI to further decrease today with support and resistance levels of 495-515
ADHI 2265 Buy
With a doji formation ADHI and potential golden cross on its stochastic oscillator ADHI is a Speculative Buy. ADHI’s support and resistance level ranging between 2205-2345 for today.
APLN 345 Buy
APLN formed a doji candle, which indicates potential upside within the range of 342-351 for today.
UNTR 20200 Buy
UNTR has a potensial upsite today with strong resistance in 20500. range for today 19800 - 20500
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 2
News of the Day
Economy: FX reserves declined from USD 108bn to
USD 107.6bn in July
Indonesia’s official reserve assets position as of July 2015
stood at USD107.6 bn, lower than June 2015 level which
registered at USD108.0 bn. This development was at-
tributable to increase in foreign exchange demand for
Government foreign debt payments and the use of for-
eign exchange to stabilize rupiah exchange rate. On the
other side, the increase in foreign exchange receipts
derived from the issuance of Government’s Euro Bond is
able to withstand a further decline.
With these developments, official reserve assets at the
end of July 2015 can adequately cover 7.0 months of
imports or 6.8 months of imports and servicing of Gov-
ernment external debt repayment, well above the inter-
national standards of reserves adequacy at 3 months of
imports. ([email protected])
Banks: Construction NPL remains on the watchlist
Macroprudential Policy Director from BI, Yati Kurniati,
said that construction NPL ratio has reached 5.5% and
will not move much until the end of the year. The cause
of high NPL is delayed payments due to postponed execu-
tion of construction projects in some regions. The project
managers in the respective regions were concerned about
executing the projects because of nomenclature changes.
Source: Bisnis Indonesia ([email protected])
Gaikindo guides 13 new model launching in H215
Toyota Astra Motor will launch 4 new models (Grand New
Avanza, Veloz, All New Hilux and Alphard Hybrid),
Daihatsu will release Great New Xenia, and a new look for
Ayla. Honda Prospect Motor also intend to launch Honda
BRV. Ford will launch All New Everest, Focus and Ranger.
Last year there were 20 new models launched.
Ministry of Finance is confident tax shortfall would
not exceed Rp120tn
As stated by MoF Bambang Brodjonegoro, the tax short-
fall would not exceed Rp120tn and aims for higher tax
collection in H2. Based on latest data by Directorate
General of Tax, tax revenues per 31 July has reached
Rp531.1tn, or 41% of APBNP. The figure is flat YoY from
Rp530.8tn July 2014.
Trakindo Group to enter property business
The group has property company Triyasa Propertindo that
will develop high rise projects. Triyasa has acquired 1.4ha
land in Gandaria for hi-rise project. Co is also looking to
buy 10-50ha land around Jakarta for landed residential.
It is also developing a second office tower next to Grand
Rubins Business Park in Kuningan. Company targets
Rp400bn revenue this year and Rp1tn next year. Source:
Kontan ([email protected])
August tender by Ministry of Public Works delayed to
September
The ministry is taking its time to choose which project to
tender out. The tender will be held on 4-5 September.
Total project ready to be tendered out is Rp14tn. Source:
Kontan ([email protected])
Government will sign power purchase agreement
10GW out of 35GW project
Director General of Electricity Jarman stated that construc-
tion can start as soon as the PPA is signed. Out of the
35GW project, there are 20 coal fired power plants, 13 gas
fired and the remaining with renewable energy. Coal fired
power plants take 36 months to construct and gas fired
take 18 months. Government hopes that most project will
be completed by 2019. Source: Kontan
Ministry of ESDM to restrict LPG 3kg (subsidized)
misuse
The Ministry of ESDM to launch a new restricted program
for subsidized LPG (3 kg) so that subsidy will not miss
t a r g e t . S o u r c e : T h e J a k a r t a P o s t
The government to develop local electric car industry
The Industry Ministry is preparing a set of regulations on
t h e i s s u e . S o u r c e : T h e J a k a r t a P o s t
10 licenses are shifted to the one stop service gate
system (PTSP)
10 O&G licenses are directed to the one stop service gate
system (PTSP) from Ministry of ESDM which is centred in
BKPM starting 1 August 2015. 20 licenses will be shifted to
PTSP on 1 September and 12 licenses on 1 October 2015.
Source: Bisnis Indonesia ([email protected])
TAM targets 10k sales in GIIAS event
Toyota Astra Motor (TAM) targets more than 10,000 of
sales in Gaikindo Indonesia International Automotive
(GIIAS) show on 20-30 August. TAM will launch new
models in the event which are New Hilux, Grand New
Avanza, Grand New Velos and Alphard Hybrid. Source:
Bisnis Indonesia ([email protected])
Comment:
This less than 2 week sales expectancy accounts 3% of
TAM sales in 2014 and 1% of total national sales in 2014.
Pertamina increases prices of Non-subsidized fuels
Pertamina increased its Pertamax (ron 92) price by
IDR150/litre to IDR9,450/litre in Greater Jakarta, Banten
and West Java. In addition, it has also pushed price of
Pertamax Plus by IDR200/litre to IDR10,500/litre. Source:
The Jakarta Post ([email protected])
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 3
News of the Day
PLN to use more local content for its power trans-
mission line
The Ministry of ESDM will ask PLN to use more local
content for its power transmission line after the govt
turned down an option to allow private players to take
part in the development of 47,000km transmission
network. Govt propose to raise use of more than 80% of
local content as capacity of domestic companies has
improved. Also, the Ministry of ESDM plans to speed up
land acquisition process. Source: The Jakarta Post
ASII: Explore possiblity to acquire 43% of META
ASII through its subsidiary, PT Astratel Nusantara
(Astratel), aims to acquire 43.32% of META (21% from
Rajawali Group and 22.32 from Eagle Infrastructure).
According to Astratel, the planned acquisition will devel-
op Astra business in toll road sector. Source: Investor
Daily
TELE: To build smartphone factory
TELE cooperates with Arima Communications Corp.
(manufacturing company from Taiwan) to build
smartphone factory this year. TELE will own 55%, while
Arima 45%, for the initial capital. Source: Investor Daily
EXCL, ISAT withdraw from LINK acquisition
Based on an anonymous source, EXCL and ISAT have
withdrawn from the bidding process to acquire LINK
from CVC. EXCL has stated that they are busy with
integration and is in no position to acquire LINK. ISAT
has no official comment. MNC Group is now the only
bidder.
BALI: Have conducted stock split
Bali Towerindo conducted 1:5 split bringing the book
value per share to Rp20 from Rp100/share. Source:
Kontan ([email protected])
BIKA: IPO funds to be used for property projects
and debt refinancing
Binakarya Jaya Abadi has recently concluded its IPO to
raise Rp150bn. Rp62bn is used to pay down debt and
the rest to finance construction in many projects. BIKA
is currently working on Pluit Sea View apartment, Para-
dise Mansion Apartnent, Casablanca East Residence,
Apartment Foresque. Company also intend to acquire
300ha in Samarinda, East Kalimantan. Company is
targeting topline growth of 35%. Source: Kontan
Wilmar Group to build Wilmar Integrated Industrial
Estate
The location is in Serang, Banten with total investment of
Rp7tn. The group has spent Rp1.7tn year to date. The
estate will have a total land of 1,744ha. Wilmar will do
land reclamation of 544ha to build a port. Source: Kontan
SSIA: Downgrades its industrial presales guidance
Management has downgraded guidance from 60ha indus-
trial land sales to 20ha this year. Year to date sales is
6.9ha. However, ASP has increased 23.5% yoy throughout
H1 to US$157.7/sqm. SSIA currently plan to acquire land
in three locations: 400ha in Karawang, 500ha in Subang
and 500ha in Bekasi. Source: Kontan
PGAS: Delays in Kalija pipeline prevents gas delivery
Petronas's Kepodang field has started producing since 13
August 2015 but construction of the pipeline, by PGAS and
BNBR, is delayed. The gas from Kepodang is intended for
gas fired power plant in Tambak Lorok, Semarang. The
gas could produce up to 600MW of electricty from the
installed capacity of 1,000MW in Tambak Lorok. Source:
Kontan ([email protected])
CTRS: To develop Losari reclamation project
Company will create Ciputra World Makassar project and
part of Citra Land City Losari Makassar with total area of
107ha. Total investment is Rp4tn. Source: Kontan
RANC: Guides Rp1.8tn revenue this year
This is against last year revenue of Rp1.65tn. Company
will open 3 new outlets this year. 2 have been opened in
Serpong and Surabaya. Source: Kontan
PTRO: Acquire 51.29% of PT Mahaka Industri Per-
dana
PTRO acquired 51.29% of PT Mahaka Industri Perdana
worth ~USD1.1mn. Source: Investor Daily
RALS: Plan to buyback max. ~567mn shares (8%)
According to RALS’ disclosure, the company intends to
buyback its ~567mn shares (8%) gradually within max.
18 days after approval by AGM (scheduled on 16 Sep
2015). Source: Bisnis Indonesia
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 4
Table
Indo Market PE vs Regional (Weekly)
Indo Market PE vs 10yr Bond Yield
Oil Price (Brent), Coal Price (Newcastle), Gold
Foreign Fund Flow in last 5 & 30 days
5yr Bond Yield Indo (USD) vs US Bond Yield
CPO Price, Soybean Price (both 1m Futures)
6.0
8.0
10.0
12.0
14.0
16.0
18.0
20.0
22.0
2010
2010
2011
2012
2013
2014
2015
(x)
Weekly Hang Seng Singapore Thailand Philippines Malaysia Indonesia
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
Aug-14
Aug-14
Sep-1
4
Oct-
14
Oct-
14
Nov-1
4
Dec-14
Jan-15
Jan-15
Feb-15
Mar-
15
Mar-
15
Apr-
15
May-15
May-15
Jun-1
5
Jul-
15
Jul-
15
(%) Bond Yield US Ind 5yr Bond Yield Indo in USD
-67 -7-186 -172
11
323
-132 -201
-1,554
-786
18
536
(2,000)
(1,500)
(1,000)
(500)
0
500
1,000
IND
ON
ESIA
PH
ILIP
PIN
ES
SO
UTH
KO
REA
TH
AIL
AN
D
VIE
TN
AM
IND
IA
(USDmn) 5 Days 30 Days
500
700
900
1,100
1,300
1,500
40
50
60
70
80
90
100
110
Aug-14
Aug-14
Sep-1
4
Oct-
14
Oct-
14
Nov-1
4
Dec-14
Jan-15
Jan-15
Feb-15
Mar-
15
Mar-
15
Apr-
15
May-15
May-15
Jun-1
5
Jul-
15
Jul-
15
(USD/ Troy oz.)(USD)
Brent Crude Oil (bbl) (LHS) Coal (mt) (LHS) Gold (RHS)
500
600
700
800
900
1,000
1,100
1,200
-
500
1,000
1,500
2,000
2,500
3,000
Aug-14
Sep-1
4
Oct-
14
Nov-1
4
Dec-14
Jan-15
Feb-15
Mar-
15
Apr-
15
May-15
Jun-1
5
Jul-
15
(USD Bushels)(MYR Tons)
CPO Malaysia (LHS) Soybean (RHS)
6.0
6.5
7.0
7.5
8.0
8.5
9.0
12.0
12.5
13.0
13.5
14.0
14.5
15.0
15.5
16.0
Aug-
14
Sep-
14
Oct-
14
Nov-
14
Dec-
14
Jan-
15
Feb-
15
Mar-
15
Apr-
15
May-
15
Jun-
15
Jul-
15
Aug-
15
(%)(X) JCI PE (LHS) Indo 10Yr Bond Yield (RHS)
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 5
Table
INCO, ANTM vs Nickel price (LME)
Coal Price (Newcastle) vs Coal Sector
TINS vs Tin price (LME)
ANTM vs Gold price
CPO Price (1m Futures in Malaysia) vs CPO Sector
GIAA vs Brent Crude Oil
150
175
200
225
250
275
50
55
60
65
70
75
Aug-14
Sep-1
4
Oct-
14
Nov-1
4
Dec-14
Jan-15
Feb-15
Mar-
15
Apr-
15
May-15
Jun-1
5
Jul-
15
(USD/MT)Coal (LHS) COAL Sector (RHS)
50
55
60
65
70
75
80
85
1,500
1,600
1,700
1,800
1,900
2,000
2,100
2,200
2,300
2,400
2,500
Aug-14
Aug-14
Sep-1
4
Oct-
14
Oct-
14
Nov-1
4
Dec-14
Jan-15
Jan-15
Feb-15
Mar-
15
Mar-
15
Apr-
15
May-15
May-15
Jun-1
5
Jul-
15
Jul-
15
(MYR / Ton)
CPO Malaysia (LHS) CPO Sector (RHS)
-
5,000
10,000
15,000
20,000
25,000
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
Aug-14
Aug-14
Sep-1
4
Oct-
14
Oct-
14
Nov-1
4
Dec-14
Jan-15
Jan-15
Feb-15
Mar-
15
Mar-
15
Apr-
15
May-15
May-15
Jun-1
5
Jul-
15
Jul-
15
(USD /MT)(Rp)
INCO (LHS) ANTM (LHS) Nickel LME (RHS)
500
600
700
800
900
1,000
1,100
1,200
1,300
1,400
500
600
700
800
900
1,000
1,100
1,200
1,300
Aug-14
Aug-14
Sep-1
4
Oct-
14
Oct-
14
Nov-1
4
Dec-14
Jan-15
Jan-15
Feb-15
Mar-
15
Mar-
15
Apr-
15
May-15
May-15
Jun-1
5
Jul-
15
Jul-
15
(USD troy oz.)(Rp) ANTM (LHS) Gold (RHS)
14,000
15,000
16,000
17,000
18,000
19,000
20,000
21,000
22,000
23,000
500
700
900
1,100
1,300
1,500
1,700
Aug-14
Aug-14
Sep-1
4
Oct-
14
Oct-
14
Nov-1
4
Dec-14
Jan-15
Jan-15
Feb-15
Mar-
15
Mar-
15
Apr-
15
May-15
May-15
Jun-1
5
Jul-
15
Jul-
15
(USD/MT)(Rp) TINS (LHS) Tin LME (RHS)
40
50
60
70
80
90
100
110
300
350
400
450
500
550
600
650
700
Aug-14
Aug-14
Sep-1
4
Oct-
14
Oct-
14
Nov-1
4
Dec-14
Jan-15
Jan-15
Feb-15
Mar-
15
Mar-
15
Apr-
15
May-15
May-15
Jun-1
5
Jul-
15
Jul-
15
(USD bbl)(Rp)
GIAA (LHS) Crude Oil Brent (RHS)
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 6
World Economic Calendar
Date Time Country Event Period Survey Actual Prior
8/4/2015 US Factory Orders (%) Jun 1.6 1.8 -1.0
ID GDP YoY (%) 2Q 4.6 4.7 4.6
8/5/2015 US MBA Mortgage Applications (%) 31-Jul -- 4.7 0.8
US ADP Employment Change (000's) Jul 215.0 185.0 237.0
US Trade Balance (USDbn) Jun -43.0 -43.8 -41.9
US Markit US Composite PMI Jul F -- 55.7 55.2
US Markit US Services PMI Jul F 55.2 55.7 55.2
US ISM Non-Manf. Composite Jul 56.2 60.3 56.0
EC Markit Eurozone Services PMI Jul F 53.8 54.0 53.8
EC Markit Eurozone Composite PMI Jul F 53.7 53.9 53.7
EC Retail Sales MoM (%) Jun -0.2 -0.6 0.2
EC Retail Sales YoY (%) Jun 2.0 1.2 2.4
CH Caixin China PMI Composite Jul -- 50.2 50.6
CH Caixin China PMI Services Jul -- 53.8 51.8
8/6/2015 US Initial Jobless Claims (000's) 1-Aug 272 270 267
US Continuing Claims (000's) 25-Jul 2249 2255 2262
8/7/2015 US Bloomberg Consumer Comfort 2-Aug -- 40.3 40.5
US Change in Nonfarm Payrolls Jul 225.0 215.0 223.0
US Change in Manufact. Payrolls (000's) Jul 5 15 4
US Unemployment Rate (%) Jul 5.3 5.3 5.3
CH Exports YoY (%) Jul -1.4 -8.3 2.8
ID Foreign Reserves (USD mn) Jul -- 107.6 108
08/08/2015 CH Imports YoY (%) Jul -5.2 -8.6 -6.1
CH Trade Balance (USDbn) Jul 54.4 43.0 46.5
CH CPI YoY (%) Jul 1.6 1.6 1.4
8/9/2015 CH PPI YoY (%) Jul -5 -5.4 -4.8
CH New Yuan Loans CNY Jul 725 -- 1,279
8/10/2015 CH Money Supply M2 YoY (%) Jul 11.7 -- 11.8
US NFIB Small Business Optimism Jul 95.3 -- 94.1
US Wholesale Inventories MoM (%) Jun 0.5 -- 0.8
8/11/2015 EC ZEW Survey Expectations Aug -- -- 42.7
EC Industrial Production SA MoM (%) Jun -0.1 -- -0.4
US MBA Mortgage Applications (%) 7-Aug -- -- 4.7
CH Retail Sales YoY (%) Jul 10.6 -- 10.6
CH Industrial Production YoY (%) Jul 6.6 -- 6.8
8/12/2015 CH Industrial Production YTD YoY (%) Jul 6.4 -- 6.3
US Monthly Budget Statement (USD bn) Jul -126.8 -- -94.6
US Retail Sales Advance MoM (%) Jul 0.5 -- -0.3
US Retail Sales Ex Auto MoM (%) Jul 0.4 -- -0.1
US Retail Sales Ex Auto and Gas (%) Jul 0.5 -- -0.2
US Import Price Index MoM (%) Jul -1.1 -- -0.1
US Initial Jobless Claims (000's) 8-Aug 270 -- 270
US Continuing Claims (000's) 1-Aug 2245 -- 2,255
8/13/2015 US Bloomberg Consumer Comfort 9-Aug -- -- 40.3
US PPI Final Demand MoM (%) Jul 0.1 -- 0.4
US PPI Ex Food and Energy MoM (%) Jul 0.1 -- 0.3
US PPI Final Demand YoY (%) Jul -0.9 -- -0.7
US PPI Ex Food and Energy YoY (%) Jul 0.5 -- 0.8
US Industrial Production MoM (%) Jul 0.3 -- 0.3
US Capacity Utilization (%) Jul 78 -- 78.4
US U. of Mich. Sentiment Aug P 93.6 -- 93.1
EC GDP SA QoQ (%) 2Q A 0.4 -- 0.4
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 7
Corporate Action
Code Price
Exercise Maturity Emiten Description
INVS-W 165 8-May-15 Inovisi Infracom WARAN SERI I INOVISI INFRACOM
SUGI-W 100 21-May-15 Sugih Energy WARAN SERI II SUGIH ENERGY
MCOR-W 200 10-Jul-15 Bank Windu Kentjana International WARAN SERI I BANK WINDU KENTJANA INTERNATIONAL
GAMA-W 105 16-Jul-15 Gading Development WARAN SERI I GADING DEVELOPMENT
SUPR-W 4800 28-Aug-15 Solusi Tunas Pratama WARAN SERI I SOLUSI TUNAS PRATAMA
NIRO-W 110 11-Sep-15 Nirvana Development WARAN SERI I NIRVANA DEVELOPMENT
BSIM-W 149 11-Dec-15 Bank Sinar Mas WARAN SERI I BANK SINAR MAS
Warrant
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 8
Statistics
-1.5
-2.1
-2.2
-3.0
-3.4
-3.7
-4.0
-4.7
-5.8
-6.5
BMRI
BBRI
ASII
BDMN
BBNI
SCMA
CPIN
TBIG
PGAS
EXCL18.6
10.4
5.5
4.9
4.7
2.6
2.1
0.9
0.8
0.7
MSKY
MDIA
BWPT
JRPT
UNTR
MKPI
BTPN
TLKM
SMGR
UNVR
201
150
147
135
113
112
110
104
85
76
- 100 200 300
TLKM
ASII
BMRI
BBNI
BBRI
SSMS
SILO
PGAS
SIAP
SRIL
455
206
178
122
103
102
96
90
85
76
0 200 400 600
SIAP
BRMS
SRIL
ENRG
IATA
META
DSFI
SUGI
BIPI
BWPT
7,504
6,686
5,180
4,331
4,078
4,075
3,970
3,789
2,896
2,756
PGAS
SRIL
TLKM
KLBF
DSFI
BBNI
BMRI
SCMA
UNTR
CPIN
JCI Winners (%) JCI Losers (%) JCI Value (Rpbn) JCI Volume (mn Lot) JCI Freq (x)
YTD (Rp) -8.74% 4,101
YTD (USD) 21.55% 3,428
Moving Avg 20day 4,827 4,897
Moving Avg 50day 4,939 12.8
Moving Avg 200day 5,173 2.4%
Indonesia & Sectors +/- (%)YTD (%)
MSCI Indonesia 5,601.1 -56.6 -1.0 -9.7
JII 631.8 -2.9 -0.5 -8.6
LQ45 811.5 -7.4 -0.9 -9.7
JAKFIN Index 696.3 -9.6 -1.4 -4.8
JAKINFR Index 986.0 -12.0 -1.2 -15.0
JAKMINE Index 974.8 -12.9 -1.3 -28.8
JAKCONS Index 2,140.3 2.3 0.1 -1.7
JAKTRAD Index 924.6 2.6 0.3 5.2
JAKMIND Index 1,151.2 -24.2 -2.1 -11.9
JAKBIND Index 385.5 -2.8 -0.7 -29.1
JAKPROP Index 501.8 -1.4 -0.3 -4.4
JAKAGRI Index 1,894.1 -1.0 -0.1 -19.4
Commodities +/- (%)YTD (%)
CRB Index 198.3 -0.2 -0.11 -13.8
Oil & Gas
Brent Crude Oil (USD/bbl) 48.6 -0.9 -1.84 -15.2
Nymex Oil (USD/bbl) 43.9 -0.8 -1.77 -17.7
Natural Gas 2.8 -0.0 -0.53 -3.5
COAL (AUS Daily) 59.9 -0.5 -0.75 -3.4
Industrial Metals
Aluminum (USD/tonne) 1,575.5 -3.3 -0.21 -14.1
Nickel (USD/tonne) 10,800 -50 -0.46 -28.7
Tin (USD/tonne) 15,300 -200 -1.29 -21.1
Precious Metal
Gold (USD/t oz.) 1,093.8 4.0 0.37 -7.6
Silver (USD/t oz.) 14.8 0.1 0.98 -5.0
Soft Commodities
CPO (Malaysia - Rm/tonne) 2,038 -4.0 -0.20 -11.0
Rubber (JPY/kg) 1,506 -23.6 -1.54 -8.3
Corn (USD/bu.) 373 3.0 0.81 -6.1
Wheat (USD/bu.) 511 3.5 0.69 -13.5
Soybeans (USD/bu.) 976 19.5 2.04 -4.3
Volume (m)
Value (Rpbn)
Mkt Cap (Rptr)
Market 2015 P/E (x)
Market Div. Yield (%)
CPO (Malaysia - Rm/tonne)
Indices Region +/- (%) YT D (%)
MXWO MSCI Word 1,747.3 -5.33 -0.30 2.20
SPX S&P 500 2,077.6 -5.99 -0.29 0.91
US
17,373.4 -46.4 -0.27 -2.52
Nasdaq US 5,043.5 -12.90 -0.26 6.49
Europe
EURO 50 Europe 397.1 -3.63 -0.91 15.93
FTSE London 6,718.5 -28.60 -0.42 2.32
DAX Jerman 11,490.8 -94.3 -0.81 17.19
CAC France 5,154.8 -37.36 -0.72 20.64
SMI Swiss 9,408.3 -49.72 -0.53 4.73
BRIC
BOVESPA Brazil 48,577.3 -1,434 -2.87 -2.86
MICEX Russia 1,690.4 14.73 0.88 21.04
SENSEX India 28,236.4 -61.7 -0.22 2.68
NIFTY India 8,564.6 -24.0 -0.28 3.40
SHCOMP China 3,744.2 82.67 2.26 15.75
SZCOMP China 2,177.2 63.51 3.00 53.84
Nikkei Japan 20,724.6 60.1 0.29 18.76
TPX Japan 1,679.2 5.61 0.34 19.30
HSI Hong kong 24,552.5 177 0.73 4.01
KOSPI S.Korea 2,010.2 -3.06 -0.15 4.94
TAIEX Taiwan 8,442.3 -7.3 -0.09 -9.29
FSSTI Singapore 3,196.7 0.00 0.00 -5.01
ASEAN
SET Thailand 1,428.8 -1.79 -0.13 -4.60
PCOMP Philipines 7,532.5 -57.4 -0.76 4.18
KLCI Malaysia 1,682.7 -11.99 -0.71 -4.47
VNINDEX Vietnam 603.8 2.72 0.45 10.66
Developed ASIA
Dow Jones Industrial
Kurs Region +/- (%) YT D (%)
USDEUR Euro 0.912 -0.003 -0.4 14.0
USDGBP UK 0.645 0.001 0.1 7.6
USDCHF Switzerland 0.984 0.003 0.3 -1.6
USDCAD Canada 1.313 0.002 0.2 9.4
USDAUD Australia 1.348 -0.013 -1.0 12.3
USDNZD New Zealand 1.510 -0.017 -1.1 16.1
USDJPY Japan 124.24 -0.500 -0.4 3.7
USDCNY China 6.21 - 0.0 0.2
USDHKD Hongkong 7.752 0.001 0.0 -0.6
USDSGD Singapore 1.385 0.001 0.1 6.5
Rupiah Indonesia 13,541 12.0 0.1 9.3
JCI 4,770.3 (36.3) -0.8%
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 9
Historical Technical Trading Ideas (1)
Ticker Last Technical Call 27-Jul-15 Chg (%) Recommendation
JCI 4,857 Weakening
4,771 -1.76% Correct
MNCN 1,945 Buy
2,050 5.40% Correct
BMTR 1,155 Buy
1,160 0.43% Correct
GGRM 51,000 Buy
50,000 -1.96% Incorrect
JSMR 5,900 Buy
5,650 -4.24% Incorrect
ICBP 12,425 Sell
12,200 -1.81% Correct
BBCA 13,725 Sell
13,450 -2.00% Correct
Ticker Last Technical Call 24-Jul-15 Chg (%) Recommendation
JCI 4,903 Profit taking
4,857 -0.94% Correct
PTPP 4,175 Buy
4,060 -2.75% Incorrect
GGRM 53,650 Buy
51,000 -4.94% Incorrect
ASRI 535 Buy
515 -3.74% Incorrect
ADRO 595 Buy
560 -5.88% Incorrect
ICBP 12,475 Sell
12,425 -0.40% Correct
MPPA 2,990 Sell
2,955 -1.17% Correct
Ticker Last Technical Call 23-Jul-15 Chg (%) Recommendation
JCI 4,907 Strenghtening
4,903 -0.08% Incorrect
GGRM 52,000 Buy
53,650 3.17% Correct
UNTR 18,375 Buy
18,650 1.50% Correct
TLKM 2,865 Buy
2,845 -0.70% Incorrect
PWON 440 Buy
436 -0.91% Incorrect
ASRI 530 Buy
535 0.94% Correct
ADHI 2,760 Buy
2,665 -3.44% Incorrect
Ticker Last Technical Call 22-Jul-15 Chg (%) Recommendation
JCI 4,870 Reebound
4,907 0.76% Correct
GGRM 49,550 Buy
52,000 4.94% Correct
TLKM 2,825 Buy
2,865 1.42% Correct
INCO 2,525 Buy
2,380 -5.74% Incorrect
AALI 24,975 Buy
24,350 -2.50% Incorrect
ADHI 2,730 Buy
2,760 1.10% Correct
PTPP 4,010 Sell
4,040 0.75% Incorrect
Ticker Last Technical Call 15-Jul-15 Chg (%) Recommendation
JCI 4,902 Strenghtening
4,870 -0.65% Incorrect
PGAS 4,240 Buy
4,215 -0.59% Incorrect
GGRM 49,000 Buy
49,550 1.12% Incorrect
BBNI 5,300 Buy
5,075 -4.25% Incorrect
BBRI 10,500 Buy
10,125 -3.57% Incorrect
KLBF 1,695 Buy
1,695 0.00% Correct
ADHI 2,635 Sell
2,730 3.61% Incorrect
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 10
Historical Technical Trading Ideas (2)
Ticker Last Technical Call 14-Jul-15 Chg (%) Recommendation
JCI 4,894 Strenghtening
4,902 0.16% Correct
PGAS 4,085 Buy
4,240 3.79% Correct
BBCA 13,500 Buy
13,600 0.74% Correct
UNTR 19,200 Buy
19,300 0.52% Correct
ADHI 2,500 Buy
2,635 5.40% Correct
GGRM 47,600 Buy
49,000 2.94% Correct
INCO 2,490 Sell
2,530 1.61% Incorrect
Ticker Last Technical Call 13-Jul-15 Chg (%) Recommendation
JCI 4,859 Reebound
4,894 0.72% Correct
BWPT 407 Buy
398 -2.21% Incorrect
ADRO 635 Buy
620 -2.36% Incorrect
BBCA 13,300 Buy
13,500 1.50% Correct
BSDE 1,785 Buy
1,865 4.48% Correct
MPPA 3,050 Buy
3,085 1.15% Correct
SRIL 411 Sell
398 -3.16% Correct
Ticker Last Technical Call 10-Jul-15 Chg (%) Recommendation
JCI 4,838 Reebound
4,859 0.43% Correct
BBRI 10,300 Buy
10,475 1.70% Correct
BWPT 411 Buy
407 -0.97% Incorrect
MPPA 2,860 Buy
3,050 6.64% Correct
LSIP 1,565 Buy
1,590 1.60% Correct
WIKA 2,985 Buy
3,095 3.69% Correct
ADHI 2,285 Buy
2,380 4.16% Correct
Ticker Last Technical Call 9-Jul-15 Chg (%) Recommendation
JCI 4,872 Weakening
4,838 -0.68% Correct
BSDE 1,720 Buy
1,720 0.00% Correct
TELE 950 Buy
950 0.00% Correct
TAXI 1,030 Buy
1,005 -2.43% Incorrect
KLBF 1,655 Buy
1,635 -1.21% Incorrect
BMRI 9,950 Sell
9,900 -0.50% Correct
JSMR 5,875 Sell
5,700 -2.98% Correct
Ticker Last Technical Call 8-Jul-15 Chg (%) Recommendation
JCI 4,906 Rebound
4,872 -0.70% Incorrect
BBRI 10,475 Buy
10,225 -2.39% Incorrect
BBNI 5,550 Buy
5,400 -2.70% Incorrect
SMRA 1,775 Buy
1,740 -1.97% Incorrect
WSKT 1,720 Buy
1,775 3.20% Correct
PTPP 3,880 Buy
3,955 1.93% Correct
ASRI 565 Buy
560 -0.88% Incorrect
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 11
Historical Technical Trading Ideas (3)
JCI 4,917 Weakening
4,906 -0.22% Correct
AALI 25,825 Buy
25,950 0.48% Correct
LSIP 1,655 Buy
1,620 -2.11% Incorrect
TLKM 2,930 Buy
2,870 -2.05% Incorrect
ASRI 550 Buy
565 2.73% Correct
GJTL 860 Buy
855 -0.58% Incorrect
ASII 7,000 Buy
6,900 -1.43% Incorrect
Ticker Last Technical Call 6-Jul-15 Chg (%) Recommendation
JCI 4,983 Weakening
4,917 -1.33% Correct
AALI 25,500 Buy
25,825 1.27% Correct
LSIP 1,660 Buy
1,655 -0.30% Incorrect
TLKM 2,930 Buy
2,930 0.00% Incorrect
ASRI 575 Buy
550 -4.35% Incorrect
GJTL 850 Buy
860 1.18% Correct
ASII 7,050 Buy
7,000 -0.71% Incorrect
Ticker Last Technical Call 3-Jul-15 Chg (%) Recommendation
JCI 4,945 Strenghtening
4,983 0.77% Correct
LSIP 1,585 Buy
1,660 4.73% Incorrect
AALI 25,000 Buy
25,500 2.00% Correct
BBNI 5,575 Buy
5,625 0.90% Incorrect
BBRI 10,875 Buy
10,825 -0.46% Incorrect
PTPP 3,690 Buy
3,725 0.95% Incorrect
ANTM 675 Sell
675 0.00% Correct
Ticker Last Technical Call 2-Jun-15 Chg (%) Recommendation
JCI 5,214 Strenghtening
5,214 0.00% Correct
LSIP 1,710 Buy
1,710 0.00% Correct
TLKM 2,845 Buy
2,845 0.00% Correct
KLBF 1,790 Buy
1,790 0.00% Incorrect
UNVR 43,200 Buy
43,200 0.00% Incorrect
GGRM 47,000 Sell
47,000 0.00% Incorrect
GIAA 485 Sell
485 0.00% Correct
Ticker Last Technical Call 1-Jul-15 Chg (%) Recommendation
JCI 4,911 Strenghtening
4,904 -0.13% Correct
ASII 7,075 Buy
7,025 -0.71% Correct
TLKM 2,930 Buy
2,920 -0.34% Correct
GGRM 45,100 Buy
45,025 -0.17% Correct
BBNI 5,300 Buy
5,300 0.00% Correct
BBRI 10,350 Buy
10,550 1.93% Incorrect
PGAS 4,315 Sell
4,280 -0.81% Incorrect
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 12
Historical Technical Trading Ideas (4)
Ticker Last Technical Call 30-Jun-15 Chg (%) Recommendation
JCI 4,883 Reebond
4,911 0.58% Correct
ASII 6,875 Buy
7,075 2.91% Correct
AALI 22,650 Buy
22,950 1.32% Correct
BMRI 10,025 Buy
10,050 0.25% Correct
BBNI 5,250 Buy
5,300 0.95% Correct
ADHI 2,015 Spec Buy
2,020 0.25% Correct
PTPP 3,525 Spec Buy
3,470 -1.56% Incorrect
Ticker Last Technical Call 29-Jun-15 Chg (%) Recommendation
JCI 4,883 Weakining
4,883 0.58% Incorrect
GGRM 43,800 Buy
43,800 2.91% Correct
UNTR 20,200 Buy
20,200 1.32% Correct
TLKM 2,905 Buy
2,905 0.25% Correct
ASRI 580 Buy
580 0.95% Correct
SSMS 1,850 Buy
1,850 0.25% Correct
AALI 22,650 Buy
22,650 -1.56% Incorrect
Ticker Last Technical Call 25-Jun-15 Chg (%) Recommendation
JCI 4,954 Strenghtening
4,920 -0.68% Incorrect
JSMR 5,650 Sell
5,550 -1.77% Correct
ERAA 600 Sell
595 -0.83% Correct
BWPT 418 Sell
418 0.00% Correct
BKSL 100 Buy
99 -1.00% Incorrect
BBNI 5,500 Buy
5,350 -2.73% Incorrect
BBRI 10,300 Sell
10,200 -0.97% Correct
Ticker Last Technical Call 24-Jun-15 Chg (%) Recommendation
JCI 4,938 Correction
4,954 0.32% Correct
JSMR 5,650 Buy
5,650 0.00% Correct
ERAA 600 Buy
600 0.00% Correct
UNTR 20,325 Buy
20,225 -0.49% Incorrect
BWPT 419 Buy
418 -0.24% Incorrect
BKSL 96 Buy
100 4.17% Correct
GGRM 45,950 Sell
45,300 -1.41% Correct
Ticker Last Technical Call 23-Jun-15 Chg (%) Recommendation
JCI 4,959 Strenghtening
4,938 -0.44% Correct
ICBP 12,975 Buy
12,900 -0.58% Correct
BWPT 378 Buy
419 10.85% Correct
RALS 710 Buy
705 -0.70% Correct
AISA 1,805 Buy
1,815 0.55% Correct
MPPA 3,260 Buy
3,285 0.77% Correct
BBNI 5,600 Sell
5,575 -0.45% Correct
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 13
Research Team
Sebastian Tobing, CFA
Head of Research & Institutional Business
Gina Novrina Nasution, CSA
Technical Analyst
Paula Ruth
Equity Analyst
Angga Aditya Assaf
Equity Analyst
Willinoy Sitorus
Equity Analyst
M. Dian Octiana
Equity Analyst
Wisnu Budhiargo
Equity Analyst
Tim Alamsyah
Equity Analyst
Dini Agmivia Anggraeni
Fixed Income/Macro Analyst
Yeni Simanjuntak
On-the-ground Analyst
Rovandi
Research Associate
Institutional Sales Team
Daniel Dwi Seputro
Head of Institutional Equity Sales
Dewi Yusnita
Equity Institutional Sales
Meitawati
Equity Institutional Sales
Fachruly Fiater
Equity Institutional Sales
Henry Sidarta
Equity Institutional Sales
Raditya Andyono
Equity Institutional Sales
Nancy Pardede
Equity Institutional Sales
Retail Sales Team
JAKARTA AREA
Nathanael Benny Prasetyo
Head of Retail ECM
Ariawan Anwar
Artha Graha, Jakarta
Windra Djulnaily
Pluit, Jakarta
Ferry Zabur
Kelapa Gading, Jakarta
Eddy Sumarli
Puri Kencana, Jakarta
Very Wijaya
BSD, Tangerang
SUMATERA
Juliana Effendy
Medan, Sumatera Utara
Tantie Rivi Watie
Pekanbaru, Riau
Nathanael Benny Prasetyo
Palembang, Sumatera Selatan
EAST INDONESIA
Sonny Muljadi
Surabaya, Jawa Timur
Ni Made Dwi Hapsari Wijayanti
Denpasar, Bali
Ivan Jaka Perdana
Malang, Jawa Timur
Arifin Pribadi
Makasar, Sulawesi Selatan
CENTRAL JAVA, AREA
Agus Bambang Suseno
Solo, Jawa Tengah
Mariana Kusuma Wati
Semarang, Jawa Tengah
WEST JAVA
Asep Saepudin
Bandung, Jawa Barat
Ariffianto
Cirebon, Jawa Barat
PT Trimegah Securities Tbk
Gedung Artha Graha 18th Floor
Jl. Jend. Sudirman Kav. 52-53
Jakarta 12190, Indonesia
t. +62-21 2924 9088
f. +62-21 2924 9150
www.trimegah.com
DISCLAIMER
This report has been prepared by PT Trimegah Securities Tbk on behalf of itself and its affiliated companies and is provided for information
purposes only. Under no circumstances 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 Trimegah Securities.
While all reasonable care has been taken to ensure that information contained herein is not untrue or misleading at the time of publication,
Trimegah Securities makes no representation as to its accuracy or completeness and it should not be relied upon as such. This report is
provided solely for the information of clients of Trimegah Securities who are expected to make their own investment decisions without reliance
on this report. Neither Trimegah Securities nor any officer or employee of Trimegah Securities accept any liability whatsoever for any direct or
consequential loss arising from any use of this report or its contents. Trimegah Securities and/or persons connected with it may have acted
upon or used the information herein contained, or the research or analysis on which it is based, before publication. Trimegah Securities may in
future participate in an offering of the company’s equity securities.
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