20150813 - trimegah.com · Title: 20150813 Author: Rovandi Created Date: 8/13/2015 8:48:16 AM

TRIM DAILY PT Trimegah Securities Tbk - www.trimegah.com 1

JCI is looking cheap following yesterday’s correction. Index has passed its

support level at 4500 and now trades at 13x forward PE versus the average

of 15x. Reshuffle is done and marginally better than previous team. Howev-

er, systemic weakness is abound and short-selling by foreign will likely per-

sist. Although valuation is increasingly attractive, we suggest investors to

remain cautious and bottom fish slowly (and be more aggressive when we

start seeing Rupiah stabilizing).

TRIM Daily

TRIM Highlights

Aug 13, 2015

Jakarta Composite Index (JCI) down 143 point or 3.0% to 4479 yesterday.

Index movers were mostly driven by agriculture, basic industry, & infrastruc-

ture. Total transaction value was Rp6.0tr. IDX recorded Rp763bn net sell by

foreign investors. Regional market still opened in the negative territory this

morning, we expect JCI to move between negative and positive territories

with higher potential upside, Support and resistance levels for JCI today are

4,425 - 4,614

Technical Market View

Yuan currency has lost 3.5% against USD in the last two days post devalua-tion. Data on Chinese factory activity growth and retail sales on Wednesday underlined sluggish growth, while fiscal expenditures jumped 24.% in July, reflecting china's efforts to stimulate economic activity.

Global Wrap

Technical analysis: trading picks

JCI 4,479.5

Global Indices

Dual Listing (NYSE)

Others

(USD) (Rp) Chg %

41.4 14,269 -1.35 -3.2TLKM

Change -3.10%

Transaction Volume (m) 5,419

Transaction Value (Rpbn) 5,960

Mkt Cap (Rptr) 4,591

Market 2015 P/E (x) 12.0

Market Div. Yield (%) 2.4%

Price Chg %

Dow Jones 17,402.5 -0.3 -0.0

Nasdaq 5,044.4 7.6 0.2

Nikkei 20,392.8 -328.0 -1.6

ST Times 3,061.5 -91.6 -2.9

FTSE 6,571.2 -93.4 -1.4

Hang Seng 23,916.0 -582 -2.4

Chg %

USD IDR 13,800 193 1.410 yr Indo Govt bond (%) 8.79 0.2 2.310 yr US govt bond (%) 2.1 -0.02 -0.8

Spread (%) 6.65 0.22 3.1EIDO 20.3 -1.0 -4.8Foreign YtD (USDmn) (1,351) -55 4

Stock Price Rating Reason

ASRI 426 Spec Buy

After selling pressures for 11% yesterday, we expect ASRI to form a technical re-bound within today’s trading range of 418-440

PWON 359 Spec Buy

Despite its deep correction in the last few weeks, we believe PWON has a potential upside to close its 382 price-gap. PWON’s support and resistance levels for today are 340-382

TLKM 2800 Spec Buy

TLKM is a long term bullish. However, we expect the stock would form a short-term uptrend. TLKM is a Speculative Buy with today’s trading range of 2730-2880

BBNI 4510 Spec Buy BBNI is a long term bullish with possible upside movement for today between the range of 4450-4600

GGRM 46675 Buy

GGRM formed hammer candle and sto-chastic oscillator golden cross. GGRM sup-port-resistance level for today is 45100-47200.

BBRI 9700 Buy

In short term, BBRI has the opportunity for a technical rebound with today’s trad-ing range of 9300-10100.

PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 2

News of the Day

Economy: Darmin Nasution replacing Sofyan Djalil

as economic chief minister.

As one of the sixth minister been reshuffled, Jokowi

appoints Darmin Nasution for the new economic chief

minister. During his service as former BI’s governor

(2009-2013), Darmin Nasution has applied pro-growth

policy by lowering BI rate significantly from 7% to 5.75%

and also support bond market to ensure low interest rate

took place. Prior to his service as BI governor, Darmin

Nasution lead the tax department under finance ministry

(2006-2009) and he launched tax sunset policy.

([email protected])

Gaikindo revises its 4W wholesales FY15 target to

~950k-1m units, a -17% to -21% decline YoY

Note that 7M15 4W sales only reached 581.9k units (-

2 6 % Y o Y ) . S o u r c e : B i s n i s I n d o n e s i a

([email protected])

Comment:

This is the 2nd time Gaikindo revises its FY15 sales from

initially 1.2m units to 1.05-1.1m units.

Kepodang block production will be delayed given

PGAS’ Kalija-1 pipe project has not been finished

yet

Note that the Kepodang development has been finished

since end of 2014. PGAS’ Kalija project is supposed to be

finished this August 2015. The Kalija-1 207 km pipe (203

km offshore, 4 km onshore) has been installed. Note that

120mmscfd will be distributed to Tambak Lorok, Sema-

rang (Central Java). Source: Bisnis Indonesia

([email protected])

BBRI: targets 15% YoY micro loan growth this year

The company will utilize KUR (government-sponsored

micro loans) to achieve the abovementioned target.

According to the CEO, Asmawi Syam, the KUR launching

will be at August 14th and focus on the main sectors such

as fishery, agriculture, manufacturing, and trading. More-

over, BBRI also plans to issue Rp2tr negotiable certificate

of deposits (NCD) with 4.25%-6% coupon rate with

maximum tenor of 9 months to support its funding.

Source: Kontan & IFT ([email protected])

ISAT: To cut its debt

In H2, the company plans to pay down Rp1.48tn of debt.

Company intends to settle around US$30mn loan and

Rp1tn loan. ISAT has redeemed its US$650mn bond

which matures in 2020. source: Kontan

([email protected])

SSIA: Plans to issue SG$100mn bond

This represents a downsizing from its original plan to

issue US$200mn loan. Proceeds will be used for land

acquisition 500ha in Subang. source: Kontan

([email protected])

HMSP: Conducts rights issue with maximum target

proceeds of IDR26.7trn

HM Sampoerna (HMSP IJ) conducts rights issue by issuing

269.7m new shares (6.2% of its enlarged shares). Each 65

existing shares will be entitled 4 new shares with price at

IDR63,000 – IDR99,000/share. The potential maximum

rights issue proceeds is IDR26.7trn. Source: Bisnis Indone-

sia ([email protected])

DMAS confirms sales of 60Ha land

PT SGMW Motor Indonesia, an automotive-sector JV by

SAIC motor, General Motors, and Liuzhou Wuling motors

confirms 60Ha land purchase in Deltamas, Cikarang,

Bekasi. The sales marks 78% of their 2015 land sales

target, and projects 2015 marketing sales target of

Rp1.9tr. DMAS will also launch their Japanese-themed

residential development worth Rp1tr by 2015, which will be

50% funded by IPO proceeds. Source: Investor Daily

([email protected])

E-commerce: Transaction value could achieve

USD130bn in 2020E

E-commerce transactions in Indonesia could achieve

USD130bn in 2020E if e-commerce roadmap completed

and implemented in Indonesia. Minister of Communication

and Informatics said he expects the road map to complete

this August. During last year, the e-commerce transaction

value in Indonesia achieved ~USD12bn (~50%

YoY).Source: Bisnis Indonesia


News of the Day

Name Position Background

Luhut Binsar Pandjaitan Coordinating Political, Legal and Security Affairs minister

- Former Trade and Industry Minister - Solid military career

Pramono Agung Cabinet Secretary - Senior PDI-P politician

Darmin Nasution Coordinating Economic Minister - Former Central Bank's Governor - Former Director General of Taxation

Thomas Trikasih Lembong Trade Minister - Former Head of Division and Senior Vice-President for the Indonesian Bank Restructuring Agency (BPPN)

Sofyan Djalil National Development Planning Minister

- Former SOE Minister and State Minister for Information and Communication - Joined Jusuf Kalla’s presidential campaign team in 2004

Rizal Ramli Coordinating Maritime Affairs Minister

- Former Coordinating Economic Minister and Finance Minister

Newly Appointed Ministers

Source: thejakartapost.com

Jokowi reshuffles ministry cabinets

Jokowi recently reshuffled several of its ministry cabinets (refer to below chart). Source: The Jakarta Post

Comment:

Darmin Nasution as Coordinating Economic Minister should somehow gives a positive reaction to the market

given its precedent pro-growth policy measures.


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

Sep-1

4

Sep-1

4

Oct-

14

Nov-1

4

Nov-1

4

Dec-14

Jan-15

Jan-15

Feb-15

Mar-

15

Mar-

15

Apr-

15

May-15

Jun-1

5

Jun-1

5

Jul-

15

Aug-15

(%) Bond Yield US Ind 5yr Bond Yield Indo in USD

-145-64

-559

-181

26

-122

-310

-200

-1,112

-585

32

471

(1,200)

(1,000)

(800)

(600)

(400)

(200)

0

200

400

600

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

Sep-1

4

Sep-1

4

Oct-

14

Nov-1

4

Nov-1

4

Dec-14

Jan-15

Jan-15

Feb-15

Mar-

15

Apr-

15

Apr-

15

May-15

Jun-1

5

Jun-1

5

Jul-

15

Aug-15

(USD/ Troy oz.)(USD)

Brent Crude Oil (bbl) (LHS) Coal (mt) (LHS) Gold (RHS)

500

700

900

1,100

1,300

1,500

1,700

-

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)


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

Sep-1

4

Sep-1

4

Oct-

14

Nov-1

4

Nov-1

4

Dec-14

Jan-15

Jan-15

Feb-15

Mar-

15

Apr-

15

Apr-

15

May-15

Jun-1

5

Jun-1

5

Jul-

15

Aug-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

Sep-1

4

Sep-1

4

Oct-

14

Nov-1

4

Nov-1

4

Dec-14

Jan-15

Jan-15

Feb-15

Mar-

15

Apr-

15

Apr-

15

May-15

Jun-1

5

Jun-1

5

Jul-

15

Aug-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

Sep-1

4

Sep-1

4

Oct-

14

Nov-1

4

Nov-1

4

Dec-14

Jan-15

Jan-15

Feb-15

Mar-

15

Apr-

15

Apr-

15

May-15

Jun-1

5

Jun-1

5

Jul-

15

Aug-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

Sep-1

4

Sep-1

4

Oct-

14

Nov-1

4

Nov-1

4

Dec-14

Jan-15

Jan-15

Feb-15

Mar-

15

Apr-

15

Apr-

15

May-15

Jun-1

5

Jun-1

5

Jul-

15

Aug-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

Sep-1

4

Sep-1

4

Oct-

14

Nov-1

4

Nov-1

4

Dec-14

Jan-15

Jan-15

Feb-15

Mar-

15

Apr-

15

Apr-

15

May-15

Jun-1

5

Jun-1

5

Jul-

15

Aug-15

(USD bbl)(Rp)

GIAA (LHS) Crude Oil Brent (RHS)


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

8/11/2015 CH New Yuan Loans CNY Jul 750 1,480.0 1,279

CH Money Supply M2 YoY (%) Jul 11.7 13.3 11.8

US NFIB Small Business Optimism Jul 95.4 95.4 94.1

US Wholesale Inventories MoM (%) Jun 0.4 0.1 0.8

EC ZEW Survey Expectations Aug -- 47.6 42.7

CH Retail Sales YoY (%) Jul 10.6 10.5 10.6

CH Industrial Production YoY (%) Jul 6.6 6.0 6.8

8/12/2015 CH Industrial Production YTD YoY (%) Jul 6.4 6.3 6.3

US MBA Mortgage Applications (%) 7-Aug -- 0.1 4.7

8/13/2015 US Monthly Budget Statement (USD bn) Jul -140 -149.2 -94.6

US Retail Sales Advance MoM (%) Jul 0.6 -- -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 -1.2 -- -0.1

US Initial Jobless Claims (000's) 8-Aug 270 -- 270

US Continuing Claims (000's) 1-Aug 2245 -- 2,255

EC Industrial Production SA MoM (%) Jun -0.1 -- -0.4

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


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


Statistics

-1.6

-3.0

-3.3

-3.8

-4.0

-4.4

-4.6

-4.8

-6.1

-7.9

ASII

BBCA

BBNI

BMRI

UNVR

BBRI

PGAS

TLKM

KLBF

LPPF7.4

4.9

4.0

2.6

1.7

1.7

1.2

0.9

0.9

0.7

MEGA

AMAG

MASA

AMRT

BNII

COWL

MKPI

LPKR

GGRM

MYRX

456

441

391

251

214

189

167

115

110

109

- 200 400 600

BBRI

BMRI

BBCA

TLKM

KLBF

BBNI

ASII

SILO

LPPF

INTP

445

326

199

179

147

136

129

115

109

89

0 200 400 600

SIAP

SRIL

PWON

ENRG

KLBF

ASRI

SIMA

ADRO

META

TLKM

14,770

10,846

8,640

8,562

8,078

7,744

7,048

6,876

5,354

5,164

SRIL

TLKM

KLBF

BMRI

BBNI

BBRI

ADRO

PGAS

PWON

BBCA

JCI Winners (%) JCI Losers (%) JCI Value (Rpbn) JCI Volume (mn Lot) JCI Freq (x)

YTD (Rp) -14.30% 5,419

YTD (USD) 21.55% 5,960

Moving Avg 20day 4,789 4,591

Moving Avg 50day 4,898 12.0

Moving Avg 200day 5,168 2.4%

Indonesia & Sectors +/- (%)YTD (%)

MSCI Indonesia 5,195.9 -199.7 -3.7 -16.2

JII 585.3 -22.4 -3.7 -15.3

LQ45 752.3 -28.8 -3.7 -16.3

JAKFIN Index 654.8 -20.2 -3.0 -10.5

JAKINFR Index 931.9 -35.5 -3.7 -19.7

JAKMINE Index 922.6 -27.9 -2.9 -32.6

JAKCONS Index 2,010.1 -63.4 -3.1 -7.7

JAKTRAD Index 885.1 -24.7 -2.7 0.7

JAKMIND Index 1,057.5 -23.5 -2.2 -19.1

JAKBIND Index 348.6 -13.3 -3.7 -35.9

JAKPROP Index 471.3 -15.2 -3.1 -10.2

JAKAGRI Index 1,729.8 -84.5 -4.7 -26.4

Commodities +/- (%)YTD (%)

CRB Index 198.9 -0.4 -0.21 -13.5

Oil & Gas

Brent Crude Oil (USD/bbl) 49.7 0.5 0.98 -13.3

Nymex Oil (USD/bbl) 43.3 0.2 0.51 -18.8

Natural Gas 2.9 0.1 3.06 1.1

COAL (AUS Daily) 58.6 -0.9 -1.51 -5.5

Industrial Metals

Aluminum (USD/tonne) 1,573.8 2.0 0.13 -14.2

Nickel (USD/tonne) 10,600 -155 -1.44 -30.0

Tin (USD/tonne) 15,125 -175 -1.14 -22.0

Precious Metal

Gold (USD/t oz.) 1,123.3 15.8 1.43 -5.1

Silver (USD/t oz.) 15.5 0.2 1.26 -0.8

Soft Commodities

CPO (Malaysia - Rm/tonne) 1,986 -44.0 -2.17 -13.3

Rubber (JPY/kg) 1,504 -0.9 -0.06 -8.4

Corn (USD/bu.) 357 -19.3 -5.11 -10.0

Wheat (USD/bu.) 492 -15.0 -2.96 -16.6

Soybeans (USD/bu.) 919 -62.5 -6.37 -9.9

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 1,742.4 -7.21 -0.41 1.91

SPX S&P 500 2,086.1 1.98 0.10 1.32

US

17,402.5 -0.3 -0.00 -2.36

Nasdaq US 5,044.4 7.60 0.15 6.51

Europe

EURO 50 Europe 383.0 -10.62 -2.70 11.82

FTSE London 6,571.2 -93.35 -1.40 0.08

DAX Jerman 10,924.6 -369.0 -3.27 11.41

CAC France 4,925.4 -173.60 -3.40 15.27

SMI Swiss 9,183.9 -240.53 -2.55 2.23

BRIC

BOVESPA Brazil 48,388.1 -684 -1.39 -3.24

MICEX Russia 1,697.7 -0.22 -0.01 21.56

SENSEX India 27,512.3 -353.8 -1.27 0.05

NIFTY India 8,349.5 -112.9 -1.33 0.81

SHCOMP China 3,886.3 -41.59 -1.06 20.14

SZCOMP China 2,249.2 -35.09 -1.54 58.93

Nikkei Japan 20,392.8 -328.0 -1.58 16.86

TPX Japan 1,665.8 -21.85 -1.29 18.35

HSI Hong kong 23,916.0 -582 -2.38 1.32

KOSPI S.Korea 1,975.5 -11.18 -0.56 3.13

TAIEX Taiwan 8,283.4 -110.8 -1.32 -11.00

FSSTI Singapore 3,061.5 -91.57 -2.90 -9.03

ASEAN

SET Thailand 1,408.3 0.00 0.00 -5.97

PCOMP Philipines 7,495.4 -75.0 -0.99 3.66

KLCI Malaysia 1,609.9 -26.78 -1.64 -8.59

VNINDEX Vietnam 604.2 -8.81 -1.44 10.75

Developed ASIA

Dow Jones Industrial

Kurs Region +/- (%) YT D (%)

USDEUR Euro 0.896 -0.009 -1.0 12.0

USDGBP UK 0.641 -0.002 -0.3 6.7

USDCHF Switzerland 0.975 -0.013 -1.3 -2.5

USDCAD Canada 1.298 -0.014 -1.0 8.1

USDAUD Australia 1.355 -0.014 -1.0 12.9

USDNZD New Zealand 1.511 -0.020 -1.3 16.2

USDJPY Japan 124.21 -0.920 -0.7 3.7

USDCNY China 6.39 0.06 1.0 3.0

USDHKD Hongkong 7.757 -0.005 -0.1 -0.6

USDSGD Singapore 1.399 -0.002 -0.2 7.6

Rupiah Indonesia 13,800 193.0 1.4 11.4

JCI 4,479.5 (143.1) -3.1%


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


JCI 4,903 Profit taking

4,857 -0.94% Correct

PTPP 4,175 Buy


GGRM 53,650 Buy

51,000 -4.94% Incorrect

ASRI 535 Buy

515 -3.74% Incorrect

ADRO 595 Buy


ICBP 12,475 Sell

12,425 -0.40% Correct

MPPA 2,990 Sell

2,955 -1.17% Correct


JCI 4,907 Strenghtening


GGRM 52,000 Buy

53,650 3.17% Correct

UNTR 18,375 Buy

18,650 1.50% Correct

TLKM 2,865 Buy


PWON 440 Buy


ASRI 530 Buy

535 0.94% Correct

ADHI 2,760 Buy



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


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




PGAS 4,240 Buy


GGRM 49,000 Buy


BBNI 5,300 Buy


BBRI 10,500 Buy

10,125 -3.57% Incorrect

KLBF 1,695 Buy

1,695 0.00% Correct

ADHI 2,635 Sell






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



JCI 4,859 Reebound

4,894 0.72% Correct

BWPT 407 Buy


ADRO 635 Buy


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


JCI 4,838 Reebound

4,859 0.43% Correct

BBRI 10,300 Buy

10,475 1.70% Correct

BWPT 411 Buy


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


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


KLBF 1,655 Buy


BMRI 9,950 Sell

9,900 -0.50% Correct

JSMR 5,875 Sell

5,700 -2.98% Correct


JCI 4,906 Rebound


BBRI 10,475 Buy

10,225 -2.39% Incorrect

BBNI 5,550 Buy


SMRA 1,775 Buy


WSKT 1,720 Buy

1,775 3.20% Correct

PTPP 3,880 Buy

3,955 1.93% Correct

ASRI 565 Buy




JCI 4,917 Weakening

4,906 -0.22% Correct

AALI 25,825 Buy

25,950 0.48% Correct

LSIP 1,655 Buy


TLKM 2,930 Buy


ASRI 550 Buy

565 2.73% Correct

GJTL 860 Buy


ASII 7,000 Buy



JCI 4,983 Weakening

4,917 -1.33% Correct

AALI 25,500 Buy

25,825 1.27% Correct

LSIP 1,660 Buy


TLKM 2,930 Buy


ASRI 575 Buy


GJTL 850 Buy

860 1.18% Correct

ASII 7,050 Buy




4,983 0.77% Correct

LSIP 1,585 Buy


AALI 25,000 Buy

25,500 2.00% Correct

BBNI 5,575 Buy


BBRI 10,875 Buy

10,825 -0.46% Incorrect

PTPP 3,690 Buy


ANTM 675 Sell

675 0.00% Correct

Ticker Last Technical Call 2-Jun-15 Chg (%) Recommendation


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


UNVR 43,200 Buy


GGRM 47,000 Sell


GIAA 485 Sell

485 0.00% Correct



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


PGAS 4,315 Sell





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



JCI 4,883 Weakining


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




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


BBRI 10,300 Sell

10,200 -0.97% Correct


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


BKSL 96 Buy

100 4.17% Correct

GGRM 45,950 Sell

45,300 -1.41% Correct



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


Research Team

Sebastian Tobing, CFA

Head of Research & Institutional Business

([email protected])

Gina Novrina Nasution, CSA

Technical Analyst

([email protected])

Paula Ruth

Equity Analyst

([email protected])

Angga Aditya Assaf

Equity Analyst

([email protected])

Willinoy Sitorus

Equity Analyst

([email protected])

M. Dian Octiana

Equity Analyst

([email protected])

Wisnu Budhiargo

Equity Analyst

([email protected])

Tim Alamsyah

Equity Analyst

([email protected])

Dini Agmivia Anggraeni

Fixed Income/Macro Analyst

([email protected])

Yeni Simanjuntak

On-the-ground Analyst

([email protected])

Rovandi

Research Associate

([email protected])

Institutional Sales Team

Daniel Dwi Seputro

Head of Institutional Equity Sales

([email protected])

Dewi Yusnita

Equity Institutional Sales

([email protected])

Meitawati


([email protected])

Fachruly Fiater


([email protected])

Henry Sidarta


([email protected])

Raditya Andyono


([email protected])

Nancy Pardede


([email protected])

Retail Sales Team

JAKARTA AREA

Nathanael Benny Prasetyo

Head of Retail ECM

([email protected])

Ariawan Anwar

Artha Graha, Jakarta

([email protected])

Windra Djulnaily

Pluit, Jakarta

([email protected])

Ferry Zabur

Kelapa Gading, Jakarta

([email protected])

Eddy Sumarli

Puri Kencana, Jakarta

([email protected])

Very Wijaya

BSD, Tangerang

([email protected])

SUMATERA

Juliana Effendy

Medan, Sumatera Utara

([email protected])

Tantie Rivi Watie

Pekanbaru, Riau

([email protected])

Nathanael Benny Prasetyo

Palembang, Sumatera Selatan

([email protected])

EAST INDONESIA

Sonny Muljadi

Surabaya, Jawa Timur

([email protected]

Ni Made Dwi Hapsari Wijayanti

Denpasar, Bali

([email protected])

Ivan Jaka Perdana

Malang, Jawa Timur

([email protected])

Arifin Pribadi

Makasar, Sulawesi Selatan

([email protected])

CENTRAL JAVA, AREA

Agus Bambang Suseno

Solo, Jawa Tengah

([email protected])

Mariana Kusuma Wati

Semarang, Jawa Tengah

[email protected])

WEST JAVA

Asep Saepudin

Bandung, Jawa Barat

([email protected])

Ariffianto

Cirebon, Jawa Barat

([email protected])

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

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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

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Documents

20150813 - trimegah.com · Title: 20150813 Author: Rovandi Created Date: 8/13/2015 8:48:16 AM