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OSODaily 21 Agustus 2019

ODAY TOP STOCK TRADED (LQ45) JAKARTA COMPOSITE INDEX

6,295.74 (0.98)

-0.02% Previous 6,296.72 Lowest

6,279.57

Highest 6,317.69 Val IDR bn

8.454 Volbn 14.980 Mkt Cap IDRtr

7,221.52

Net Forg 1DIDRbn (191.38) Net ForgYTDIDRbn

62,322.91 Return YTD (%) 1.63 Month to date (%)

(1.48)

Indices

Last Chg% YTD% Americas

Dow Jones United States 25,962.44 (0.66) 11.30 S&P 500 United States 2,900.51 (0.79) 15.70 Nasdaq United States 7,948.56 (0.68) 19.79 EIDO United States 24.63 (0.40) (0.77) EMEA

FTSE 100 United Kingdom 7,125.00 (0.90) 5.90

CAC 40 France 5,344.64 (0.50) 12.98 D DAX Germany 11,651.18 (0.55) 10.34

Asia Pacific Nikkei Japanese 20,677.22 (0.62) 2.67 Shanghai China 2,883.10 (0.11) 15.48 TWSE Taiwan 10,488.75 0.32 8.17 KOSPI Korea 1,960.25 (0.06) (4.02) KLSE Malaysia 1,596.45 0.39 (5.20) ST – Times Singapore 3,128.45 0.24 2.19 Sensex India 37,402.49 (0.20) 3.49 Hangseng Hongkong 26,291.84 (0.23) 1.49

Sectoral Previous Last Chg% YTD% AGRICULTURE 1,367.02 1,349.16 (1.31) (13.76) MINING 1,602.51 1,600.31 (0.14) (9.92) MISC INDUSTRY 1,152.48 1,151.94 (0.05) (17.39) BASIC INDUSTRY 849.32 848.69 (0.07) (0.71) CONSUMER GOODS 2,407.44 2,425.96 0.77 (5.58) PROPERTY 504.68 504.80 0.02 12.74 INFRASTRUKTUR 1,216.91 1,229.88 1.07 15.56 FINANCE 1,269.47 1,260.44 (0.71) 7.21 MANUFAKTURE 1,510.99 1,517.27 0.42 (6.23) TRADE 790.42 788.73 (0.21) 0.62 LQ 45 984.13 982.70 (0.15) (0.00)

Commodities Previous Lastest Chg% YTD%

Oil (USD/bbl) 56.21 56.13 (0.14) 23.85 Gold (USD tr.oz) 1,495.92 1,507.18 0.75 17.47 Nickel (USD/mtrc ton) 15,920.00 15,860.00 (0.38) 48.36 Tin (USD/mtrc ton) 16,475.00 16,475.00 - (15.40) Copper (USD/mtrc ton) 5,774.00 5,711.00 (1.09) (4.26) CPO (MYR/ton) 2,105.00 2,129.00 1.14 6.24 Coal (USD/ton) 66.00 65.85 (0.23) (35.76)

Currencies

Last Chg% YTD% IDR / USD

14,268.00 (0.20) 0.86

IDR / AUD

9,665.48 (0.06) 5.17 IDR / EUR

15,800.70 (0.11) 4.09

IDR /SGD

10,291.93 (0.32) 2.56 IDR / JPY

134.06 (0.11) (2.56)

IDR / GBP

17,246.66 0.27 6.21 Global Macro Economics CB Rate CPI YoY GDP YoY United States 2.25 1.80 2.30 Euro Area 0.00 1.00 1.10 United Kingdom 0.75 2.10 1.20 Japan 0.10 0.70 1.20 China 4.35 2.80 6.20 Domestic macro Economics Lastest Chg% YTD% Jibor 5.00 (15.02) 28.20 GovBonds (5y) 6.82 0.53 (13.79) GovBonds (10y) 7.35 0.47 (8.41)

Inflasi YoY 3.32

Inflasi MoM 0.31 Bi rate 5.75 GDP Growth YoY (%) 5.05

Foreign Reserve (Bn) 125.90 Government Bonds Yield% Wow% Ytd% 7 Year 7.25 7.25 7.25 15 Year 7.73 7.73 7.73 20 Year 7.85 7.85 7.85 30 Year 8.04 8.04 8.04

Source: Bloomberg LP & OSO Research Team

Market Review Pada perdagangan kemarin (20/08) IHSG ditutup melemah tipis sebesar 0.02% ke level 6.295.74. Enam dari sepuluh indeks sektoral berakhir dalam zona merah, dimana sektor perkebunan dan keuangan memimpin pelemahan masing-masing sebesar 1.31% dan 0.71%. Adapun saham yang menjadi pemberat indeks diantaranya ; BBRI, BBCA, BBNI, INKP, PGAS. Pelaku pasar asing membukukan aksi jual bersih (Netsell) senilai Rp 191 miliar. Nilai tukar rupiah terdepresiasi sebesar 0.20% ke level 14.268. Global Review Pada perdagangan semalam (20/08) bursa saham Wall Street kompak ditutup dalam zona merah, dimana Dow Jones, S&P 500 dan Nasdaq melemah masing-masing sebesar 0.66%, 0.79% dan 0.68%. Pelemahan tersebut seiring dengan penantian para pelaku pasar terhadap rilisnya notulen rapat The Fed yang akan rilis pada sore ini waktu setempat. Selain itu pelaku pasar juga menantikan pidato gubernur The Fed Jerome Powell pada konferensi bankir The Fed di Jackson Hole, pertemuan ini akan menentukan arah kebijakan The Fed selanjutnya. JCI Prediction IHSG ditutup melemah sebesar 0.02% ke level 6.295. IHSG ditutup bearish candle. Adapun indikator Stochastic mendekati area overbought dan MACD histogram bergerak positif dengan Volume turun. Kami perkirakan IHSG bergerak mixed dengan kecederungan menguat dengan dengan pergerakan di kisaran 6274-6353. Major Economic Release

Redbook United States periode 17 Agustus

turun sebesar 1.7% lebih rendah

dibandingkan penurunan sebelumnya

sebesar 2% (MoM).

API Crude Oil Stock Change United States

periode 16 Agustus naik sebesar 3.5 juta

barel.



TODAY TOP STOCK TRADED (LQ45) Top Gainers

Last Chg% YTD% MC (T) Beta

ELSA IJ Equity

348 4.82 1.16 2.54 1.55

TPIA IJ Equity

8,275 4.42 39.66 147.57 0.78

ICBP IJ Equity

11,900 3.25 13.88 138.78 0.63

TLKM IJ Equity

4,470 3.00 20.89 442.81 0.79

WIKA IJ Equity

2,350 1.73 41.99 21.08 1.55

Top Losers

Last Chg% YTD% MC (T) Beta

INKP IJ Equity

7,150 (4.98) (38.10) 39.12 2.42

SCMA IJ Equity

1,185 (4.44) (36.63) 17.50 1.43

PGAS IJ Equity

1,920 (3.76) (9.43) 46.54 1.84

TKIM IJ Equity

10,100 (3.35) (9.01) 31.44 2.34

ANTM IJ Equity

1,050 (3.23) 37.25 25.23 1.70

Top Volume

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

TLKM IJ Equity

4,470 143.2 20.9 442.81 0.79

ANTM IJ Equity

1,050 117.0 37.3 25.23 1.70

BBRI IJ Equity

4,100 102.6 12.0 505.72 1.63

ELSA IJ Equity

348 85.4 1.2 2.54 1.55

PGAS IJ Equity

1,920 83.1 (9.4) 46.54 1.84

Top Value

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

TLKM IJ Equity

4,470 384.5 20.9 442.81 0.79

BBRI IJ Equity

4,100 247.5 12.0 505.72 1.63

ASII IJ Equity

6,425 203.8 (21.9) 260.11 1.29

BBCA IJ Equity

29,925 183.3 15.1 737.80 1.02

BMRI IJ Equity

7,375 142.2 - 344.17 1.54

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

IHSG

Indonesia 6,296 19.29 2.16 6,800

Nikkei

Japanese 20,677 14.69 1.57 24,108

Shanghai

China 2,880 13.88 1.44 3,243

TWSE

Taiwan 10,523 16.80 1.61 11,388

KOSPI

Korea 1,960 12.63 0.78 2,571

KLSE

Malaysia 1,603 20.40 1.63 1,725

ST - Times

Singapore 3,138 12.34 1.05 3,599

Sensex

India 37,393 25.99 2.82 42,694

Hangseng

Hongkong 26,232 10.43 1.18 32,717

JAKARTA COMPOSITE INDEX MOVERS

Movers

Latest Chg% YTD% MC (T) Beta

TLKM IJ Equity

4470 3.00 20.89 443 0.79

TPIA IJ Equity

8275 4.42 39.66 148 0.78

UNVR IJ Equity

45175 1.52 (0.50) 345 1.05

ICBP IJ Equity

11900 3.25 13.88 139 0.63

MEGA IJ Equity

6200 6.90 26.53 43 (0.35)

Laggard


BBRI IJ Equity

4100 (1.91) 12.02 506 1.63

BBCA IJ Equity

29925 (0.50) 15.10 738 1.02

BBNI IJ Equity

7750 (1.59) (11.93) 145 1.61

INKP IJ Equity

7150 (4.98) (38.10) 39 2.42

PGAS IJ Equity

1920 (3.76) (9.43) 47 1.84

Movers


OSO MANAJEMEN INVESTASI

Mutual Fund Latest 1 Month (%)

Oso Sustainability Fund

1,462.95 (3.33) Oso Syariah Equity Fund

1,348.97 1.51

Source: Bloomberg LP & OSO Research Team



COMPARATION OF JCI PERFORMANCE (SEAG)


OSODaily 05 April 2019


MACRO ECONOMIC & INDUSTRY NEWS Inflasi rendah, Bank Indonesia (BI) diperkirakan akan menurunkan suku bunga 25 basis poin menjadi 5,5% di

pertemuan tengah pekan ini. Tahun ini, inflasi tahun diproyeksikan di bawah 3,5% dan di tahun 2020 kan inflasi

diasumsikan hanya 3,1%. Periode inflasi yang rendah itu biasanya disertai dengan bunga acuan yang rendah.

Current Account Deficit (CAD) Indonesia pada Q2-2019 melebar hingga 3% dari PDB. Sementara pada kuartal

sebelumnya, hanya ada di level 2,6%. Hal ini dipengaruhi oleh repatriasi dividen musiman, pembayaran pinjaman

luar negeri, dan penurunan ekspor.

Penjualan dari pabrikan ke dealer (wholesales) yang diolah Astra tercatat penjualan dari bulan Juni ke Juli 2019

meningkat. Dari data penjualan wholesales Juli 2019 pada periode juli 2019 naik menjadi 89.110 unit. Atau naik

dari periode juni 2019 tercatat sebesar 59.539 unit. Meski demikian, penjualan Januari-Juli 2019 sebesar 570.331

unit.Atau turun dibandingkan periode sama tahun lalu sebesar 661.247 unit.

CORPORATES NEWS Pada paruh pertama tahun 2019, PT Kalbe Farma Tbk (KLBF) mencatatkan kenaikan utang bank jangka panjangnya

tercatat naik signifikan dari sebelumnya Rp 32,11 miliar di semester I 2018 menjadi Rp 573,47 miliar.

PT Alam Sutera Realty Tbk (ASRI) di semester I 2019 baru merealisasikan marketing sales sebesar Rp 1,3 triliun.

Jumlah itu baru sebesar 32,5% dari target marketing sales ASRI tahun ini sebesar Rp 4 triliun.

PT Mitrabara Adiperdana Tbk (MBAP) tertekan penurunan harga batubara. Sepanjang semester pertama tahun ini

pendapatan MBAP turun tipis 0,12% menjadi US$ 127,93 juta, padahal pada periode yang sama tahun sebelumnya

MBAP masih mengantongi pendapatan US$ 128,09 juta.

PT Waskita Karya Tbk (WSKT) mulai agresif mencari sumber pendanaan. Selain menerbitkan obligasi dan divestasi,

WSKT juga akan menerbitkan instrumen reksa dana penyertaan terbatas (RDPT) dengan aset penyertaan ruas tol

Bekasi Cakung Kampung Melayu (Becakayu).

PT Energi Mega Persada Tbk (ENRG) melalui anak usahanya Buzi Hydrocarbons Pte. Ltd (BHPL) menyetujui

kesepakatan kerjasama dengan Empressa Nacional de Hidrocarbonetos (ENH). BHPL dan ENH memiliki masing-

masing 75% dan 25% saham di Blok Buzi EPCC di Mozambique, Afrika. Kesepakatan ini meliputi rencana BHPL

untuk mengeksplorasi dan mengembangkan blok Buzi EPCC dengan estimasi nilai investasi sebesar US$ 50 juta.

PT Perusahaan Gas Negara Tbk (PGAS) mencatatkan pendapatan sebesar US$ 1,79 miliar. Bila dikonversikan ke

rupiah dengan kurs rata-rata semester I tahun 2019 Rp 14.195 per dolar Amerika Serikat (AS), maka pendapatan

PGAS sekitar Rp 25,4 triliun. Angka ini turun 6,77% bila dibandingkan pendapatan PGAS pada semester I 2018 lalu

sebesar US$ 1,92 miliar.

PT Jaya Trishindo Tbk (HELI) menyebut, gelaran politik di semester I membuat kinerja perusahaan penyewaan

helikopter ini naik pada semester pertama lalu. sepanjang semester I HELI mencetak pendapatan Rp 27,01 miliar

naik 6,84% dari sebelumnya Rp 25,28 miliar.

Sumber: Kontan, Bisnis Indonesia, Iqplus

NOTE: Positive Sentiment Negative Sentiment Netral




Technical

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

Recommendation : BUY Entry Buy : 1.255 – 1.265 Target Price : 1.295 – 1.330 Support : 1.235 – 1.245 Cutloss : 1.230

DAILY TECHNICAL

Strategi Ciputra Development (CTRA) Menghadapi Kelebihan Pasokan Perkantoran PT Ciputra Development Tbk (CTRA) mengatakan saat ini pihaknya masih fokus dalam pengembangan residensial. Sebab untuk perkantoran, menurutnya kondisi saat ini masih over supply seiring dengan masih banyaknya unit perkantoran yang barus selesai dibangun. dapun, pada semester dua ini, CTRA akan merilis empat proyek baru. Proyek tersebut adalah perumahan di Puri Semanan, township di Sentul, apartemen di Ciracas dan proyek mixed-use di Driyorejo, Gresik.

Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 1.295. Apabila break 1.295 next harga ke level 1.330. Hati-hati jika harga tidak mampu break up atau menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 1.230 jika sudah melewati support 1.235 – 1.245.

|CTRA|PE : 39.53x | PBV : 1.40x | ROE: 3.53% | NPM : 9.42% | DER : 1.08x | Fair Value : 1.500|

Souce: OSO Research Team

BUY

NOTE:




Technical

Medium/Minor trend : Uptrend MACD line/histogram : Ke Arah Positif Stochastic : Bullish Volume : Turun Tipis


DAILY TECHNICAL

BUY |SILO |PE : 1066x | PBV : 1.64x | ROE: 0.15% | NPM : 0.14% | DER : 0.23x | Fair Value : 7.000|

Pendapatan SILO Semester I/2019 Tumbuh 18,66%, Harga Sahamnya Pun Ikut Terkerek PT Siloam International Hospitals Tbk (SILO ) pada semester I/2019 cukup positif dan tercermin dari pendapatan sebesar Rp3,37 triliun, naik 18,66% dari posisi Rp2,84 triliun pada periode yang sama tahun sebelumnya. Adapun pendapatan SILO bersumber dari pendapatan rawat inap Rp2,01 triliun dan rawat jalan Rp1,36 triliun. Sementara untuk laba yang dapat diatribusikan kepada entitas induk sebesar Rp4,89 miliar per Juni 2019. Padahal SILO masih mencatatkan rugi bersih Rp25,05 miliar pada semester I/2018.


Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 6.550. Apabila berhasil menguji 6.550 next harga ke level 6.650. Hati-hati jika harga tidak mampu break up atau berbalik menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 6.250 jika sudah melewati support 6.275 – 6.325..

NOTE:




Technical

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


DAILY TECHNICAL

BUY |WIKA|PE : 11.81x | PBV : 1.18x | ROE: 10% | NPM : 7.83% | DER : 2.34x | Fair Value : 2.600|

Ekspansi ke Afrika, BUMN Bidik Kontrak Rp11,7 Triliun Pemerintah Indonesia dan Afrika melakukan penandatanganan kerjasama di bidang infrastruktur dan transportasi. Nilai kerjasamanya ditaksir mencapai US$822 juta atau sekitar Rp11,7 triliun. Sejumlah BUMN yang terlibat dalam kerjasama tersebut antara lain, PT Wijaya Karya (Persero) Tbk, PT Waskita Karya (Persero) Tbk, PT Kimia Farma Tbk, PT Bio Farma (Persero) Tbk, PT INKA (Persero), PT Len Industri (Persero), dan PT Kereta Api Indonesia (Persero). Menteri BUMN Rini M. Soemarno menambahkan, kesepakatan ini merupakan bentuk kepercayaan pemerintah Afrika kepada pemerintah Indonesia melalui BUMN-BUMN tersebut.


Harga ditutup bullish candle dan menguji resistance. Harga berpeluang menguji level 2.400. Apabila break 2.400 next harga ke level 2.430. Hati-hati jika harga tidak mampu tembus 2.400 atau malah berbailk menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 2.270 jika sudah melewati support 2.280 – 2.310.

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 725 (2.03) 51.67 3.81 56.13 5.18 1.13 5.21 98.23 635 -12% Sell

CPIN IJ Equity 4,610 (1.91) (36.19) 3.94 19.66 12.15 13.99 21.19 22.95 4,594 0% Sell

INKP IJ Equity 7,150 (4.98) (38.10) 0.71 6.99 2.49 6.03 14.02 113.83 11,300 58% Buy

INTP IJ Equity 22,550 (0.22) 22.22 3.80 58.02 31.23 5.47 6.48 0.50 19,358 -14% Sell

JPFA IJ Equity 1,530 (1.29) (28.84) 1.84 9.46 4.33 8.00 20.16 59.63 1,718 12% Buy

SMGR IJ Equity 13,225 (0.19) 15.00 2.59 30.27 11.12 4.11 8.74 30.13 13,761 4% Hold

TKIM IJ Equity 10,100 (3.35) (9.01) 1.66 10.86 16.53 6.95 16.45 120.71 13,000 29% Buy

TPIA IJ Equity 8,275 4.42 39.66 5.80 82.01 27.02 4.18 7.14 34.35 4,568 -45% Sell

Industry Average in LQ45 3.02 34.18 13.76 6.23 12.42 60.04

Total of Industry Average 1.62 24.22 10.25 2.82 (23.11) 101.08

SECTOR CONSUMER GOODS

GGRM IJ Equity 77,000 0.49 (7.92) 3.34 17.39 10.26 12.84 20.01 38.38 92,353 20% Buy

HMSP IJ Equity 3,020 - (18.60) 12.33 24.80 18.74 32.64 50.51 0.33 3,656 21% Buy

ICBP IJ Equity 11,900 3.25 13.88 6.09 28.54 17.00 13.48 22.92 9.06 11,925 0% Hold

INDF IJ Equity 7,775 1.30 4.36 1.95 14.35 5.61 4.98 14.36 59.18 8,274 6% Hold

KLBF IJ Equity 1,570 0.32 3.29 5.02 29.45 19.55 13.62 17.85 2.34 1,590 1% Hold

UNVR IJ Equity 45,175 1.52 (0.50) 67.92 37.16 25.16 43.81 183.94 20.26 45,194 0% Hold


Total of Industry Average 6.32 25.90 21.99 8.92 19.63 46.26

SECTOR INFRASTRUCTURE

EXCL IJ Equity 3,250 - 64.14 1.86 130.48 3.61 (5.11) (14.59) 125.77 3,861 19% Buy

JSMR IJ Equity 5,700 (0.87) 33.18 2.34 18.66 6.17 2.50 13.33 157.26 6,460 13% Buy

PGAS IJ Equity 1,920 (3.76) (9.43) 1.29 15.30 2.56 3.11 7.41 109.43 2,580 34% Buy

TLKM IJ Equity 4,470 3.00 20.89 4.71 21.69 6.76 9.77 22.82 37.58 4,705 5% Hold


Total of Industry Average 3.00 39.29 176.48 (3.89) (2.18) 130.89

Source: Bloomber LP





SECTOR MINING

ADRO IJ Equity 1,050 0.48 (13.58) 0.63 5.09 1.84 6.70 12.63 32.95 1,617 54% Buy

AKRA IJ Equity 4,010 (0.74) (6.53) 1.95 22.17 12.71 4.78 11.01 42.61 4,929 23% Buy

ANTM IJ Equity 1,050 (3.23) 37.25 1.27 31.53 9.21 2.47 4.14 50.26 1,204 15% Buy

INCO IJ Equity 3,410 (2.01) 4.60 1.28 452.52 19.89 0.23 0.27 1.94 3,825 12% Buy

INDY IJ Equity 1,380 (0.36) (12.93) 0.55 31.14 1.05 0.46 1.74 129.53 2,125 54% Buy

ITMG IJ Equity 12,925 (0.19) (36.17) 1.12 4.33 2.40 17.45 25.70 - 19,503 51% Buy

MEDC IJ Equity 775 - 13.14 0.77 9.06 1.49 (1.14) (5.07) 202.38 1,043 35% Buy

PTBA IJ Equity 2,460 0.41 (42.79) 1.50 5.50 3.96 19.44 29.25 5.12 3,559 45% Buy



SECTOR MISC INDUSTRY

ASII IJ Equity 6,425 - (21.88) 1.83 12.33 6.78 6.60 16.18 49.27 8,104 26% Buy

SRIL IJ Equity 338 (0.59) (5.59) 0.84 5.24 2.30 6.72 17.23 139.64 Neutral #VALUE! #VALUE!



SECTOR PROPERTY

BSDE IJ Equity 1,330 (2.21) 5.98 0.94 16.82 9.56 2.98 5.72 46.06 1,683 27% Buy

CTRA IJ Equity 1,265 2.02 25.25 1.62 18.02 8.81 3.84 9.39 50.80 1,347 7% Hold

PTPP IJ Equity 1,975 (0.50) 9.42 0.96 8.85 4.12 2.84 11.34 74.03 2,655 34% Buy

PWON IJ Equity 680 (1.45) 9.68 2.40 11.79 8.72 11.10 22.42 36.44 765 13% Buy

WIKA IJ Equity 2,350 1.73 41.99 1.37 10.01 5.13 3.70 14.89 78.93 2,813 20% Buy

WSKT IJ Equity 1,845 (0.54) 9.82 1.39 12.71 4.96 1.58 11.35 224.10 2,288 24% Buy



Source: Bloomber LP





SECTOR TRADE

ERAA IJ Equity 1,875 (2.85) (14.77) 1.29 11.66 4.98 4.54 11.78 88.81 1,916 2% Hold

LPPF IJ Equity 3,160 (2.17) (43.57) 4.90 9.84 5.27 15.33 45.23 - 4,851 53% Buy

MNCN IJ Equity 1,260 (1.18) 82.61 1.48 7.65 4.44 12.35 20.53 42.22 1,541 22% Buy

SCMA IJ Equity 1,185 (4.44) (36.63) 3.49 12.18 8.81 20.52 29.07 0.33 1,889 59% Buy

UNTR IJ Equity 20,550 (0.72) (24.86) 1.40 6.83 3.06 10.84 21.57 17.95 31,546 54% 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 29,925 (0.50) 15.10 4.62 27.03 88.15 1.40 6.53 6.30 30,658 2% Hold

BBRI IJ Equity 4,100 (1.91) 12.02 2.66 14.90 90.10 2.27 7.06 64.57 4,691 14% Buy

BBNI IJ Equity 7,750 (1.59) (11.93) 1.26 9.50 92.85 1.90 5.14 82.33 10,082 30% Buy

BBTN IJ Equity 2,230 (3.04) (12.20) 0.96 8.79 103.45 2.82 3.81 188.00 2,698 21% Buy

BMRI IJ Equity 7,375 0.34 - 1.85 13.05 100.47 2.75 5.36 56.75 8,971 22% Buy

BTPS IJ Equity 3,200 (4.48) 78.27 6.17 24.62 454.49 1.39 38.72 149.94 3,498 9% 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

ADRO IJ Equity 1,050 (13.6) Negatif Oversold Negatif 960 1,150 1,340 1,050 1,040 1,020 1,070 1,080 1,005 Speculative Buy

AKRA IJ Equity 4,010 (6.5) Negatif Trading Positif 3,710 3,935 4,160 4,050 3,995 3,940 4,105 4,160 3,880 Hold

ANTM IJ Equity 1,050 37.3 Negatif OverBought Positif 820 985 1,150 1,060 1,045 1,015 1,090 1,105 1,000 Sell

ASII IJ Equity 6,425 (21.9) Positif Oversold Negatif 6,375 6,900 7,400 6,450 6,400 6,325 6,525 6,575 6,225 Speculative Buy

BBCA IJ Equity 29,925 15.1 Positif Trading Negatif 29,350 30,475 31,600 30,050 29,925 29,800 30,175 30,300 29,350 Hold

BBNI IJ Equity 7,750 (11.9) Negatif Oversold Positif 7,650 8,150 8,650 7,825 7,750 7,625 7,950 8,025 7,525 Speculative Buy

BBRI IJ Equity 4,100 12.0 Positif Oversold Negatif 4,115 4,350 4,580 4,145 4,085 4,035 4,195 4,255 3,970 Speculative Buy

BBTN IJ Equity 2,230 (12.2) Positif Trading Positif 2,200 2,345 2,490 2,270 2,215 2,170 2,315 2,370 2,135 Speculative Buy

BMRI IJ Equity 7,375 - Negatif Oversold Negatif 7,150 7,575 8,000 7,400 7,325 7,250 7,475 7,550 7,125 Speculative Buy

BRPT IJ Equity 725 51.7 Positif Trading Negatif 705 750 790 735 720 705 750 765 695 Hold

BSDE IJ Equity 1,330 6.0 Negatif Trading Positif 1,275 1,365 1,455 1,360 1,330 1,305 1,385 1,415 1,285 Hold

BTPS IJ Equity 3,200 78.3 Positif Trading Negatif 3,065 3,300 3,535 3,305 3,170 3,065 3,410 3,545 3,020 Hold

CPIN IJ Equity 4,610 (36.2) Negatif Trading Negatif 4,445 4,960 5,475 4,665 4,605 4,545 4,725 4,785 4,475 Sell

CTRA IJ Equity 1,265 25.2 Negatif Trading Negatif 1,165 1,235 1,305 1,255 1,230 1,205 1,280 1,305 1,185 Sell

ERAA IJ Equity 1,875 (14.8) Positif Trading Negatif 1,775 1,975 2,180 1,910 1,855 1,810 1,955 2,010 1,785 Hold

EXCL IJ Equity 3,250 64.1 Positif Trading Negatif 3,105 3,260 3,410 3,260 3,210 3,180 3,290 3,340 3,130 Hold

GGRM IJ Equity 77,000 (7.9) Negatif Trading Positif 70,725 74,675 78,600 76,500 75,975 75,450 77,025 77,550 74,300 Hold

HMSP IJ Equity 3,020 (18.6) Negatif Trading Positif 2,790 2,940 3,090 3,005 2,970 2,915 3,060 3,095 2,870 Hold

ICBP IJ Equity 11,900 13.9 Negatif OverBought Positif 10,300 11,000 11,700 11,825 11,675 11,475 12,025 12,175 11,300 Sell

INCO IJ Equity 3,410 4.6 Negatif OverBought Positif 2,685 3,120 3,550 3,430 3,380 3,330 3,480 3,530 3,280 Sell

INDF IJ Equity 7,775 4.4 Negatif OverBought Positif 6,675 7,225 7,750 7,725 7,675 7,625 7,775 7,825 7,500 Sell

INDY IJ Equity 1,380 (12.9) Negatif Oversold Negatif 1,265 1,455 1,650 1,385 1,370 1,350 1,405 1,420 1,330 Speculative Buy

INKP IJ Equity 7,150 (38.1) Negatif Trading Positif 6,450 7,325 8,200 7,350 7,100 6,875 7,575 7,825 6,775 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 22,550 22.2 Negatif OverBought Negatif 21,250 22,050 22,850 22,475 22,300 21,925 22,850 23,025 21,600 Strong Sell

ITMG IJ Equity 12,925 (36.2) Positif Strong Buy Negatif 12,725 15,650 18,600 13,025 12,875 12,750 13,150 13,300 12,550 Buy

JPFA IJ Equity 1,530 (28.8) Negatif Trading Negatif 1,500 1,570 1,640 1,545 1,525 1,505 1,565 1,585 1,480 Sell

JSMR IJ Equity 5,700 33.2 Negatif Trading Negatif 5,550 5,800 6,050 5,750 5,700 5,650 5,800 5,850 5,575 Sell

KLBF IJ Equity 1,570 3.3 Negatif OverBought Positif 1,385 1,460 1,535 1,570 1,555 1,545 1,580 1,595 1,520 Sell

LPPF IJ Equity 3,160 (43.6) Negatif Oversold Negatif 2,995 3,450 3,905 3,190 3,130 3,060 3,260 3,320 3,015 Speculative Buy

MEDC IJ Equity 775 13.1 Positif Oversold Negatif 750 815 880 780 765 755 790 805 745 Speculative Buy

MNCN IJ Equity 1,260 82.6 Positif Trading Negatif 1,220 1,335 1,445 1,255 1,230 1,175 1,310 1,335 1,155 Hold

PGAS IJ Equity 1,920 (9.4) Negatif Trading Positif 1,925 1,985 2,040 1,950 1,915 1,880 1,985 2,020 1,850 Hold

PTBA IJ Equity 2,460 (42.8) Negatif Oversold Negatif 2,330 2,610 2,890 2,455 2,415 2,375 2,495 2,535 2,335 Speculative Buy

PTPP IJ Equity 1,975 9.4 Negatif Trading Positif 1,750 1,975 2,200 1,990 1,965 1,945 2,010 2,035 1,915 Hold

PWON IJ Equity 680 9.7 Positif Trading Negatif 660 695 730 685 675 665 695 705 655 Hold

SCMA IJ Equity 1,185 (36.6) Negatif Oversold Negatif 1,155 1,350 1,540 1,215 1,180 1,140 1,255 1,290 1,120 Speculative Buy

SMGR IJ Equity 13,225 15.0 Negatif OverBought Positif 12,275 12,725 13,200 13,200 13,125 12,950 13,375 13,450 12,750 Sell

SRIL IJ Equity 338 (5.6) Negatif Trading Negatif 331 345 359 339 338 337 340 341 332 Sell

TKIM IJ Equity 10,100 (9.0) Negatif Trading Positif 8,500 10,800 13,100 10,250 9,950 9,625 10,575 10,875 9,475 Hold

TLKM IJ Equity 4,470 20.9 Negatif OverBought Positif 4,115 4,240 4,365 4,410 4,345 4,280 4,475 4,540 4,215 Sell

TPIA IJ Equity 8,275 39.7 Negatif Strong Sell Positif 5,525 6,800 8,075 8,125 7,950 7,775 8,300 8,475 7,650 Sell

UNTR IJ Equity 20,550 (24.9) Positif Oversold Negatif 19,375 23,725 28,075 20,700 20,525 20,325 20,900 21,075 20,025 Speculative Buy

UNVR IJ Equity 45,175 (0.5) Negatif Trading Positif 43,225 44,600 45,975 45,100 44,950 44,825 45,225 45,375 44,150 Hold

WIKA IJ Equity 2,350 42.0 Negatif Trading Positif 2,180 2,305 2,430 2,335 2,305 2,285 2,355 2,385 2,250 Hold

WSKT IJ Equity 1,845 9.8 Negatif Trading Negatif 1,655 1,910 2,170 1,860 1,835 1,815 1,880 1,905 1,785 Sell

source: Bloomberg Lp



MAJOR ECONOMIC RELEASE CALENDAR

Date Event Country Act Prev Cons

20-Aug-19 GB CBI Industrial Trends Orders AUG GBR -13 -34

US Redbook YoY 17/AUG USD 4.90% 4.4%

US Redbook MoM 17/AUG USD -1.7% -2%

US API Crude Oil Stock Change AUG/16 USD 3.5M 3.7M

21-Aug-19 GB Public Sector Net Borrowing JUL GBR £-6.50B

US MBA 30-Year Mortgage Rate 16/AUG USD 3.93%

US MBA Mortgage Applications 16/AUG USD 21.70%

US Existing Home Sales MoM JUL USD -1.7% 2.50%

US Existing Home Sales JUL USD 5.27M 5.4M

US EIA Gasoline Stocks Change 16/AUG USD -1.412M 0.025M

US EIA Crude Oil Stocks Change 16/AUG USD 1.58M

22-Aug-19 Japan, Foreign Bond Investment AUG/17 JPY ¥173.1B

Japan, Stock Investment by Foreigners AUG/17 JPY ¥-187B

Japan, All Industry Activity Index MoM JUN JPY 0.3%

Indonesia, Interest Rate Decision IDN 5.75%

Indonesia, Deposit Facility Rate AUG IDN 5%

Indonesia, Lending Facility Rate AUG IDN 6.5%

US Initial Jobless Claims AUG/17 USD 220K 216K

US Continuing Jobless Claims AUG/10 USD 1726K

US Markit Composite PMI Flash AUG USD 52.6

US Markit Manufacturing PMI Flash AUG USD 50.4 50.5

US Markit Services PMI Flash AUG USD 53 52.9

US CB Leading Index MoM JUL USD -0.3% 0.20%

Source: Bloomberg Lp

https://tradingeconomics.com/united-states/existing-home-saleshttps://tradingeconomics.com/united-states/gasoline-stocks-changehttps://tradingeconomics.com/united-states/jobless-claimshttps://tradingeconomics.com/united-states/manufacturing-pmihttps://tradingeconomics.com/united-states/services-pmi



CORPORATE ACTION RUPS

Date Time Company Event Place

21-Aug-19 14:00 MAYA RUPSLB Gedung Mayapada Tower 2

14:00 MYOH RUPSLB Crowne Plaza Hotel

23-Aug-19 10:00 LUCK RUPSLB Ruang Seminar I BEI

26-Aug-19 9:00 PEHA RUPSLB

10:00 LAND RUPSLB Ruang Meeting, Sahid Serpong

28-Aug-19 9:30 NRCA RUPSLB Hotel Gran Meli Lt 1

14:00 BMRI RUPSLB

29-Aug-19 10:00 LINK RUPSLB 10:00 TRIL RUPSLB Jl Guntur No 45

14:00 BBTN RUPSLB

30-Aug-19 9:30 CNTX RUPSLB Pabrik Perseroan

14:00 ASRM RUPSLB Hotel Borobudur Banda B Room

14:00 BBNI RUPSLB Menara BNI Lt 6

14:00 PGAS RUPSLB

2-Sep-19 10:00 BTPS RUPSLB Menara BTPN, CBD Mega Kuningan 14:00 BBRI RUPSLB Dividend

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

IKBI Cash Dividen 30-Jul-19 31-Jul-19 1-Aug-19 22-Aug-19 8.8 AKRA Cash Dividen 5-Aug-19 6-Aug-19 7-Aug-19 16-Aug-19 50 SMSM Cash Dividen 8-Aug-19 9-Aug-19 12-Aug-19 23-Aug-19 15

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

Kencana Energy Tbk Bahana, RHB, Mirae Asset Sekuritas TBA TBA 250 - 420 977

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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