20140430 Daily Research

Previous Day:

Pada penutupan perdagangan hari Selasa (29/4), IHSG naik sebanyak 0,923 poin (0,02%) ke level 4819,68. Ada sebanyak 164 saham yang naik, 108 saham yang mengalami koreksi, dan 96 saham yang stagnan. Total perdagangan hari ini seban-yak Rp 5,221 triliun. LQ45 turun 1,64 poin (-0,20%) ke level 812,09. Sektor-sektro di zona hijau adalah sektor agrikultur naik 1,74%, sektor perdagangan naik 0,98%, dan sektor con-sumer goods naik 0,84%. Sektor-sektor di zona merah adalah sektor infrastruktur turun 1,67%, sektor aneka industri turun 1,35%, dan sektor pertambangan turun 0,91%. Foreign net sell sebesar Rp 497,94 miliar. Indeks Nikkei turun 0,98%. Indeks Straits Times jatuh 0,15%. Indeks Hang Seng naik 1,45%. Indeks Shanghai naik 0,82%. Todays Market:

Secara teknikal indeks hari Rabu (30/4) diperkirakan akan bergerak mixed di level 4783-4858. Bank Indonesia mengesti-masikan neraca perdagangan Maret 2014 surplus lebih dari US$ 800 juta menunjukan perbaikan perdagangan bulan Ma-ret 2014 merupakan penopang surplus perdagangan kuartal I-2014. Hal ini dapat memberikan sentimen positif terhadap indeks hari ini.

Top Technical Buys:

PTPP, UNTR, BBCA, BWPT

Sinarmas Investment Research/ 62 21 3925550/[email protected] DAILY RESEARCH

UNDERVALUED STOCKS 2014:

MYOR 34,600

ROTI 1,330

Closing

JCI

Transaction Value (Rp tn)

Transaction Volume (mn shares)

Foreign Net Buy (Sell) (Rp bn) (497.94)

Foreign Net Buy (Sell) YTD (Rp tn) 33.52

as percentage of last year's 0.44

Total Market Capitalization (Rp tn) 4,477.38

Closing1 Day

Return %

YTD

Change

%

4,819.68 0.02 12.8

812.09 (0.20) 14.2

27.57 2.22 20.7

25.18 1.53 18.4

16,535.37 0.53 (0.2)

1,878.33 0.48 1.6

4,103.54 0.72 (1.7)

6,769.91 1.04 0.3

14,288.23 (0.98) (11.7)

22,132.53 1.45 (3.7)

3,242.71 (0.15) 2.2

1,859.34 0.19 (0.4)

FOREX Change

YTD

Change

%

USD/IDR (22.50) 5.6

EUR/IDR (92.20) 5.2

JPY/IDR (0.01) 2.9

SGD/IDR (20.43) 4.8

AUD/IDR 22.01 1.5

GBP/IDR 4.41 3.7

Price1 Day

Return %

YTD

Change

%

CRUDE OIL

(USD)/BARREL 100.49 (0.78) 2.1

COAL (USD) / MT 76.90 0.07 (5.9)

NATURAL GAS

(USD) / mmBtu 4.84 0.08 14.3

GOLD (USD) / OUNCE 1,295.30 (0.05) 7.4

NICKEL (USD) / MT 18,199.00 0.27 30.9

TIN (USD) / MT 23,166.00 (0.13) 3.7

CPO (MYR) / MT 2,690.00 (0.99) 2.4

RUBBER (JPY)/KG 206.00 0.83 (26.4)

WHEAT/BUSHEL 7.06 (0.32) 16.6

CORN/BUSHEL 5.15 (0.10) 22.1

4,819.68

5.221

5,179

IDX Statistics

Commodities

JCI

LQ45

EIDO

IDX

9,180.43

10,699.25

19,403.39

Key Indices

STRAITS TIMES

KLSE

Rate (IDR)

11,526.30

15,923.25

112.48

HANG SENG

DOW JONES

S&P 500

NASDAQ

FTSE

NIKKEI

See important disclaimer at the end of this report

Wednesday, April 30, 2014

4,795

4,805

4,815

4,825

JCI Index

Last Price Previous day Closed at 4819.68

2

CORPORATE NEWS

PT Intiland Development Tbk (DILD) membukukan kenaikan laba bersih 51,82% di kuartal I-2014 men-

capai Rp 121,52 miliar dibandingkan periode yang sama di tahun sebelumnya Rp 80,04 miliar. Kenaikan laba bersih ditopang lonjakan pendapatan usaha. Pendapatan usaha pada kuartal I-2014 naik sebesar 8% menjadi Rp 452,60 miliar. (Positive) Source: Indonesia Finance Today

PT Waskita Karya Tbk (WSKT) akan investasi Rp 5 triliun untuk membangun superblock di Surabaya,

Jawa Timur. Pengerjaan konstruksi akan dilakukan secara bertahap oleh perusahaan dalam kurun waktu lima tahun kedepan. (Positive) Source: Indonesia Finance Today

PT Jasa Marga Tbk (JSMR) membukukan kenaikan laba bersih 16,74% menjadi Rp 376,05 miliar dari pe-

riode yang sama tahun sebelumnya Rp 322,1 miliar. Kenaikan laba ini ditopang oleh kemampuan perusa-haan menekan beban. Beban usaha perusahaan menyusut 22,48% dari Rp 1,69 triliun menjadi Rp 1,31 tril-iun. (Positive) Source: Kontan

PT Summarecon Agung Tbk (SMRA) mengantongi pinjaman Rp 2,21 triliun dari PT Bank Central Asia

Tbk (BBCA) dan PT Bank Mandiri Tbk (BMRI). Fasilitas tersebut dijamin dengan asset tanah dan bangunan milik perusahaan yang tersebar di Jakarta, Banten, dan Bali. (Positive) Source: Investor Daily



3

Eddy Wijaya/ Technical Analyst/62 21 3925550 TRADING VIEW



By: Rheza, T iesha, R ichardRESEARCH DEPARTMENT By: Eddy Wijaya (+6221-3925550) TICKER RECOMMENDATION PRICE ENTRY EXIT S2 S1 R1 R2 EXPLANATION

AGRICULTURE

AALI Buy on Weakness 29000 28600 29400 28200 28600 29400 29800 Rsi : uptrend

BWPT Trading Buy 1400 1400 1415 1380 1390 1415 1430 Macd : uptrend

LSIP Buy on Weakness 2450 2420 2480 2400 2420 2480 2510 Rsi : uptrend

BANK & FINANCE

BMRI Buy on Weakness 9800 9725 9900 9650 9725 9900 10000 Macd : downtrend

BBRI Buy on Weakness 9775 9700 9850 9650 9700 9850 9950 Stoc osc : downtrend

BBNI Trading Sell 4835 4835 4805 4795 4805 4845 4885 Falling window

BBCA Trading Buy 11000 11000 11100 10800 10900 11100 11225 Rsi : reversal

CONSUMER GOODS

INDF Buy on Weakness 7025 6950 7050 6850 6950 7050 7150 White spinning top

ICBP Buy on Weakness 10000 9900 10100 9800 9900 10100 10200 Stoc osc :uptrend

GGRM Trading Buy 55750 55750 56200 54900 55350 56200 56600 Rsi : uptrend

UNVR Buy on Weakness 29000 28900 29300 28650 28900 29300 29600 Macd : downtrend

CPIN Trading Sell 3825 3825 3805 3785 3805 3835 3855 Macd : downtrend

MAIN Buy on Weakness 2975 2960 3000 2940 2960 3000 3040 Black spinning top

BASIC & MISC INDUSTRY

ASII Trading Sell 7475 7475 7400 7300 7400 7550 7650 Black spinning top

SMGR Trading Sell 14975 14975 14800 14600 14800 15050 15200 Macd : downtrend

INTP Trading Sell 21875 21875 21700 21500 21700 22000 22250 Black spinning top

INFRASTRUCTURE

TLKM Trading Sell 2270 2270 2250 2225 2250 2290 2305 Macd : downtrend

PGAS Trading Sell 5300 5300 5250 5200 5250 5350 5400 Macd : death cross

JSMR Buy on Weakness 5850 5800 5925 5750 5800 5925 6000 Black spinning top

TBIG Buy on Weakness 6300 6200 6350 6100 6200 6350 6450 Inverted hammer

RETAIL

MAPI Buy on Weakness 6100 6050 6150 6000 6050 6150 6225 Gravestone doji

RALS Trading Sell 1235 1235 1225 1210 1225 1245 1260 Black spinning top

ACES Trading Sell 750 750 740 730 740 760 780 Macd : downtrend

MPPA Buy on Weakness 2765 2745 2770 2725 2745 2770 2790 Stoc osc : downtrend

MINING

PTBA Trading Sell 9800 9800 9700 9600 9700 9900 10000 Falling window

ADRO Buy on Weakness 1125 1115 1140 1100 1115 1140 1160 Black spinning top

ITMG Trading Sell 24875 24875 24800 24700 24800 25000 25100 Gravestone doji

ANTM Buy on Weakness 1200 1180 1220 1160 1180 1220 1240 Long legged doji

TINS Buy on Weakness 1545 1530 1560 1510 1530 1560 1590 Rsi : downtrend

UNTR Trading Buy 21900 21900 22100 21350 21600 22100 22250 Morning star

PROPERTY

ASRI Buy on Weakness 535 525 540 515 525 540 560 White spinning top

LPKR Buy on Weakness 1070 1060 1070 1050 1060 1070 1090 White spinning top

CTRA Trading Sell 1030 1030 1010 980 1010 1045 1060 Macd : downtrend

APLN Trading Sell 263 263 261 258 261 267 273 Macd : downtrend

SMRA Buy on Weakness 1090 1080 1100 1060 1080 1100 1120 White spinning top

SSIA Buy on Weakness 850 835 865 815 835 865 880 Long legged doji

BSDE Buy on Weakness 1565 1550 1580 1540 1550 1580 1600 Rsi : reversal

WIKA Buy on Weakness 2295 2285 2315 2270 2285 2315 2330 White spinning top

PTPP Buy on Weakness 1830 1820 1850 1800 1820 1850 1880 Rsi : reversal

ADHI Buy on Weakness 2975 2950 3000 2920 2950 3000 3050 Black spinning top

4

Global Equity Indices

Description YTD Change % 30-Apr-14 Forward 2014 P/E Ratio (Best Est.)

LQ45 14.2 812

Nikkei 225 (11.7) 14,390

JCI 12.8 4,820

FTSE 100 0.3 6,770

ASX 200 2.4 5,480

DJIA (0.2) 16,535

S&P500 1.6 1,878

STI 2.2 3,238

CAC 40 4.7 4,498

Shanghai Composite (4.5) 2,020

DAX 0.3 9,584

KOSPI (2.0) 1,972

Hang Seng (3.7) 22,454

Euro Stoxx 3.2 3,209

Description YTD Change % 30-Apr-14 Description YTD Change % 30-Apr-14

AALI 15.5 29,000 ICBP (2.0) 10,000

ADRO 3.2 1,125 IMAS (2.2) 4,790

AKRA 9.0 4,770 INCO 36.2 3,610

ANTM 10.1 1,200 INDF 6.4 7,025

ASII 9.9 7,475 INDY 3.4 610

ASRI 24.4 535 INTP 9.4 21,875

BBCA 14.6 11,000 ITMG (12.7) 24,875

BBNI 22.4 4,835 JSMR 23.8 5,850

BBRI 34.8 9,775 KLBF 22.0 1,525

BBTN 32.8 1,155 LPKR 17.6 1,070

BDMN 13.9 4,300 LSIP 26.9 2,450

BHIT (9.7) 307 MAIN (6.3) 2,975

BKSL 8.9 171 MAPI 10.9 6,100

BMRI 24.8 9,800 MNCN 2.5 2,690

BMTR 13.9 2,165 PGAS 18.4 5,300

BSDE 21.3 1,565 PTBA (3.9) 9,800

BUMI (35.3) 194 SMCB 24.8 2,840

BWPT 5.3 1,400 SMGR 5.8 14,975

CPIN 13.3 3,825 SSIA 51.8 850

EXCL (7.1) 4,830 TLKM 6.6 2,270

GGRM 32.7 55,750 UNTR 15.3 21,900

GIAA (7.7) 458 UNVR 11.5 29,000

HRUM (14.2) 2,360 JAKPROP INDEXJAKBIND INDEX

Sectors JAKFIN INDEX

Description JAKCONS INDEX

Property (2.0) JAKMIND INDEX

Basic Industry (3.6) JAKINFR INDEXTrade (0.4) JAKAGRI INDEXFinance 1.6 JAKMINE INDEXMiscellaneous Industry 1.3

Consumer (0.2)

Infrastructure 2.0

Agriculture 5.5

Mining 5.8

1-mth Return %

Selected Indonesian Equities

14.9

16.2

15.1

13.9

15.4

14.8

16.0

14.3

14.3

7.9

13.5

7.6

10.4

13.9



5

Dividend

Upcoming IPO


Company Business Offering

Date

Share

in Rp.

Price in Rp. Listing Date

PT Dwi Aneka Jaya Kemasindo Kemasan

PT Puradelta Lestari Properti 205-255

Ticker Status DPS (Rp) Cum Date Ex Date Recording Payment

MPPA Final 186 5 Mei 2014 6 Mei 2014 8 Mei 2014 19 Mei 2014

AISA Final 75.5 8 Mei 2014 9 Mei 2014 13 Mei 2014 30 Mei 2014

SDRA Final 11 9 Mei 2014 12 Mei 2014 14 Mei 2014 2 Juni 2014

AALI Final 355 9 Mei 2014 12 Mei 2014 14 Mei 2014 2 Juni 2014

EXCL Final TBA 13 Mei 2014 14 Mei 2014 19 Mei 2014 4 Juni 2014

UNTR Final 340 14 Mei 2014 16 Mei 2014 20 Mei 2014 5 Juni 2014

MLPL Final 21.2 16 Mei 2014 19 Mei 2014 21 Mei 2014 5 Juni 2014

ASGR Final 44 16 Mei 2014 19 Mei 2014 21 Mei 2014 6 Juni 2014

ROTI Final 3.12 19 Mei 2014 20 Mei 2014 22 Mei 2014 5 Juni 2014

AUTO Final 61.5 21 Mei 2014 22 Mei 2014 26 Mei 2014 11 Juni 2014

LPPF Final 157.7 11 Juni 2014 12 Juni 2014 16 Juni 2014 30 Juni 2014

MLPT Final 1.60 5 Mei 2014 6 Mei 2014 8 Mei 2014 22 Mei 2014

MFMI Final 1.60 5 Mei 2014 6 Mei 2014 8 Mei 2014 19 Mei 2014

Ticker NS:OS Price (Rp) Cum Date Ex Date Recording Trading

IBST 2:11 3176 28 April 2014 29 April 2014 2 Mei 2014 6 Mei-13 Mei 2014

Rights Issue


6

Global Reference Rates FOREX Rate (USD) Change %

FED Rate 0.25 USDIDR 11,526 0.20

BI Rate 7.50 USDEUR 0.72 0.01

ECB Rate 0.25 USDJPY 103 0.10

BOJ Rate 0.10 USDSGD 1.26 0.02

BOE Rate 0.50 USDAUD 1.08 (0.17)

PBOC Rate 6.00 USDGBP 0.59 0.00

Description March February

Inflation YTD (%) 1.41 1.33 8.40

Inflation YOY (%) 7.32 7.75 0.92

Inflation MOM (%) 0.08 0.26 1.46

Foreign Reserves (USD bn) 102.60 7.65

GDP YOY Growth Rate Q42013 (%) 5.72 7.94

GDP Growth Rate 2013 (%) 5.78 8.42

GDP YOY (USD bn) 878.04

Dual Listed Price (IDR) Change %

TLKM (US) 2,189.94 (5.00)

ANTM (GR) 1,034.65 0.00

%

Lending & Deposit Rates

INDOGB 15Y YIELD (%)

JIBOR (IDR) (%)

LIBOR (GBP) (%)

SIBOR (USD) (%)

INDOGB 5Y YIELD (%)

INDOGB 10Y YIELD (%)

MACRO INDICATORS RAPBN 2014 APBN-P 2013 APBN 2013

GDP (%) 5.8-6.1 6.3 6.8

Inflation (%) 4.5-5.5 7.2 4.9

IDR/USD (IDR) 10,000-10,500 9,600 9,300

SBI3 Months (%) 5.5 5.0 5.0

Crude Oil (USD/brl) 106 108 100

Oil Production (bpd) 870,000 840,000 900,000

Total APBN (IDR tn) 1,240 1,726 1,683

DISCLAIMER This material is issued by PT Sinarmas Sekuritas, a member of Indonesia Stock Exchanges, represent the opinion of PT Sinarmas Sekuritas,

derived its judgment from sources deemed reliable, however, PT Sinarmas Sekuritas and its affiliated cannot guarantee its accuracy and

completeness. PT Sinarmas Sekuritas or its affiliates may be involved in transactions contrary to any opinion herein or have positions in the

securities recommended herein and may seek or will seek investment banking or other business relationships with the companies in this

material. PT Sinarmas Sekuritas, its employees and its affiliates, expressly disclaim any and all liability for representation or warranties,

expressed or implied, here in or omission there from or for any loss how so ever arising from any use of this material or its contents or

otherwise arising in connection there with. Opinion expressed in this material are our present view and are subject to change without no-

tice.


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20140430 Daily Research