Friday, August 7, 2020 - Sinarmas Sekuritas · 2020. 8. 7. · pembahasan lintas kementerian....
Transcript of Friday, August 7, 2020 - Sinarmas Sekuritas · 2020. 8. 7. · pembahasan lintas kementerian....
1
Today’s Market:
IHSG diperkirakan bergerak mixed dengan kecenderungan
menguat. Bursa AS ditutup menguat pada perdagangan
Kamis (06/08) seiring dengan pembahasan pembaharuan
stimulus ekonomi AS. Harga batubara turun ke level USD
50.20 per Mt. Crude oil turun ke level USD 42.15 per bar-
rel. Rupiah sedikit melemah terhadap Dollar AS di level Rp
14,585. 10Yr Government Bonds Yield turun ke level
6.79%.
Dari global, AS mencatatkan klaim pengangguran awal
minggu pertama Agustus di level 1.18 juta (vs 1.43 juta
minggu sebelumnya), lebih baik dari estimasi.
Dari dalam negeri, Bank Indonesia (BI) mencatatkan In-
deks Keyakinan Konsumer bulan Juli meningkat ke level
86.2 (vs 83.8 pada bulan sebelumnya). BI dijadwalkan
mengumumkan data cadangan devisa pada hari ini.
Dari dalam negeri, Badan Penyelenggara Jaminan Sosial
(BP Jamsostek) menyatakan bahwa rencana pemotongan
iuran hingga 90% akan segera terealisasi seiring dengan
pembahasan lintas kementerian.
Sehubungan dengan emiten, Elnusa (ELSA) akan
melakukan penawaran umum berkelanjutan melalui sukuk
ijarah berkelanjutan I dengan target perolehan dana sebe-
sar Rp 1.5 triliun.
Secara teknikal indeks hari Jumat (07/08), IHSG diprediksi
bergerak di kisaran 5135-5228.
Source: Bloomberg, Sinarmas Investment Research See pg. 6-8 for Technical Corner
www.sinarmassekuritas.co.id See important disclaimer at the end of this report
Friday, August 7, 2020
IHSG naik sebanyak 51.2 poin (1%) ke level 5178.27.
Sementara LQ45 naik sebanyak 9.9 poin (1.23%) ke level
811.59. Foreign net sell sebesar Rp 9.47 miliar.
ID X Stat ist ics C lo sing
JCI 5,178.27
Transaction Value Regular M arket (IDR tn) 8.497
Transaction Volume Regular M arket (mn shares) 9,085
Foreign Net Buy (Sell) (IDR bn) (9)
Foreign Net Buy (Sell) (1.44)
Total M arket Capitalization (IDR tn) 6,019.83
LQ45 811.59 1.23 (24.81)
EIDO 19.22 0.63 (32.40)
IDX 17.45 0.35 (29.75)
DOW JONES 27,386.98 0.68 10.79
S&P 500 3,349.16 0.64 25.27
NASDAQ 11,108.07 1.00 60.91
FTSE 6,026.94 (1.27) (21.60)
NIKKEI 22,418.15 (0.43) (1.52)
HANG SENG 24,930.58 (0.69) (16.67)
STRAITS TIM ES 2,559.10 1.04 (24.80)
KLSE 1,588.57 1.30 (11.59)
USD/IDR 14,585.00 0.00 4.93
EUR/IDR 17,319.77 0.20 10.18
JPY/IDR 138.17 0.32 7.56
SGD/IDR 10,654.71 0.31 3.23
AUD/IDR 10,546.74 0.54 7.86
GBP/IDR 19,161.92 0.25 4.89
Crude Oil (USD/barrel) 42.15 7:52:26 AM (30.97)
Coal (USD/mn tons) 50.20 8/6/2020 (25.85)
Natural Gas (USD/mmBtu) 2.17 7:51:55 AM (0.96)
Gold (USD/ounce) 2,065.00 8:02:34 AM 36.10
Nickel (USD/mn tons) 14,478.00 8/6/2020 3.23
Tins (USD/mn tons) 17,840.00 8/6/2020 3.87
CPO (M YR/mn tons) 2,895.00 8/6/2020 (4.80)
Rubber (JPY/kg) 164.20 7:39:57 AM (7.39)
Wheat (USD/bushel) 502.50 7:52:33 AM (10.07)
Corn (USD/bushel) 311.25 7:52:31 AM (19.73)
C o mmo dit ies
Other Indices C lo sing 1-D ay C hg (%)YT D
C hg (%)
C urrency Spo t R ate R ate ( ID R ) 1-D ay C hg (%)YT D
C hg (%)
P riceLast
T ransact io n
YT D
C hg (%)
2
Daily Corporate and Industry News
Pemerintah akan memberikan pinjaman tanpa bunga untuk rumah tangga (RT) sebagai bagian dari rangkaian stimu-lus percepatan pemulihan ekonomi. Saat ini pemerintah sedang menyusun skema pinjaman tanpa bunga tersebut. Source: Investor Daily Badan Penyelenggara Jaminan Sosial atau BP Jamsostek menyatakan bahwa rencana pemotongan iuran hingga 90% segera terealisasi karena telah dibahas lebih lanjut. Source: Bisnis Indonesia Bank Indonesia mencatat bahwa Indeks Keyakinan Konsumen (IKK) meningkat dari 83,8 pada Juni 2020 menjadi 86,2 pada Juli 2020. Indeks Keyakinan Konsumen pada Juli 2020 dinilai masih berada pada level yang pesimistis meski terjadi peningkatan dari bulan sebelumya. Kemunculan kasus baru positif Covid-19 yang terbilang tinggi dapat menjadi batu sandungan bagi penguatan keyakinan tersebut. Source: Bisnis Indonesia Menteri Keuangan Sri Mulyani mengestimasi kebutuhan dana untuk stimulus itu sekitar Rp31,2 triliun. Nantinya, penerima subsidi gaji akan dikucurkan dana Rp600.000 per bulan dalam 4 bulan berturut-turut. Stimulus yang di-rencanakan bergulir dengan skema cash transfer itu dinilai dapat mendorong konsumsi masyarakat. Source: Bisnis Indonesia Kontrak emas paling aktif untuk pengiriman Desember di divisi COMEX New York Mercantile Exchange, melonjak lagi 20,1 dolar AS atau 0,98 persen, menjadi ditutup pada 2.069,40 dolar AS per ounce. Harga emas berjangka ter-angkat 28,3 dolar AS atau 1,4 persen menjadi 2.049,30 dolar AS sehari sebelumnya (5/8/2020). Source: IQPlus Elnusa (ELSA) akan melakukan penawaran umum berkelanjutan melalui sukuk ijarah berkelanjutan I dengan target dana sebesar Rp 1,5 triliun. Source: Kontan Bursa Efek Indonesia (BEI) menghentikan sementara perdagangan saham Indofarma (INAF) dan Kimia Farma (KAEF) mulai 7 Agustus 2020 ini. Menurut keterangan BEI disebutkan suspensi dilakukan sehubungan dengan pen-ingkatan harga kumulatif yang signifikan dalam rangka cooling down. Source: IQPlus
www.sinarmassekuritas.co.id See important disclaimer at the end of this report
3
World Equity Indices
Source: Bloomberg, Sinarmas Investment Research
www.sinarmassekuritas.co.id See important disclaimer at the end of this report
WOR LD EQUIT Y IN D IC ES
N O T IC KER
1 INDU Index 29,568.57 18,213.65 (1,151.46) (4.03) 23.00 24.69 4.07 3.94 8,724.21 8,724.21
2 SPX Index 3,393.52 2,191.86 118.38 3.66 26.00 25.96 3.78 3.60 28,921.71 28,921.71
3 CCM P Index 11,121.19 6,631.42 2,135.47 23.80 60.51 39.13 6.06 5.61 17,431.57 17,431.57
4 SPTSX Index 17,970.51 11,172.73 (484.33) (2.84) 23.14 25.29 1.71 1.55 2,529.55 1,903.64
5 M EXBOL Index 45,955.41 32,503.25 (5,542.68) (12.73) 22.35 18.86 1.77 0.92 4,933.69 221.14
6 SX5E Index 3,867.28 2,302.84 (504.76) (13.48) 37.05 20.68 1.60 1.52 2,842.09 3,376.41
7 UKX Index 7,689.67 4,898.79 (1,515.50) (20.09) 58.37 19.57 1.50 1.25 1,652.29 2,174.24
8 CAC Index 6,111.41 3,632.06 (1,092.93) (18.28) 43.21 24.43 1.49 1.46 1,535.30 1,823.94
9 DAX Index 13,795.24 8,255.65 (657.33) (4.96) 38.61 19.89 1.58 1.48 1,157.19 1,374.75
10 IBEX Index 10,100.20 5,814.50 (2,591.30) (27.14) #N/A N/A 28.28 1.10 1.04 443.95 527.41
11 FTSEM IB Index 25,483.05 14,153.09 (4,031.22) (17.15) 76.31 22.50 1.04 1.01 450.28 534.94
12 AEX Index 632.12 389.60 (46.12) (7.63) 64.72 23.86 s 1.72 767.66 911.98
13 SM I Index 11,270.00 7,650.23 (549.81) (5.18) 22.40 19.43 2.51 2.44 1,185.71 1,302.54
14 AS51 Index 7,197.20 4,402.50 (674.98) (10.10) 19.77 21.35 1.90 1.87 1,874.45 1,356.35
15 AS30 Index 7,289.70 4,429.10 (651.10) (9.57) 20.11 22.17 1.91 1.88 2,074.98 1,501.45
16 SHSZ300 Index 4,878.08 3,503.19 666.18 16.26 18.16 15.76 2.14 1.99 39,020.58 5,611.65
17 SHASHR Index 3,625.48 2,773.54 353.64 11.07 17.02 14.36 1.63 1.48 40,329.03 5,799.82
18 SZASHR Index 2,442.26 1,540.52 609.79 33.83 53.66 25.72 3.30 3.52 32,296.65 4,644.66
19 HSI Index 29,174.92 21,139.26 (3,259.17) (11.56) 11.64 11.62 1.03 0.97 17,446.92 2,251.16
20 HSCEI Index 11,502.47 8,290.34 (965.65) (8.65) 8.53 8.82 1.07 1.00 14,154.89 1,826.39
21 SENSEX Index 42,273.87 25,638.90 (3,228.29) (7.83) 27.13 24.41 2.79 2.75 74,398.94 993.05
22 NIFTY Index 12,430.50 7,511.10 (968.30) (7.96) 26.73 23.76 2.65 2.58 87,623.25 1,169.56
23 JCI Index 6,414.48 3,911.72 (1,121.27) (17.80) 18.35 18.56 1.45 1.84 6,019,825.41 412.51
24 LQ45 Index 1,036.62 566.05 (202.89) (20.00) 13.94 17.72 1.96 1.94 3,829,337.57 262.41
25 KSE100 Index 43,468.22 27,046.71 (568.96) (1.40) 9.24 7.79 1.16 1.01 6,169.02 36.60
26 NKY Index 24,115.95 16,358.19 (1,300.24) (5.50) 31.68 22.10 1.74 1.66 342,567.57 3,247.70
27 NEY Index 356.77 249.78 (28.03) (8.01) 21.80 20.55 1.10 1.06 416,295.66 3,946.68
28 TPX Index 1,747.20 1,199.25 (173.18) (10.06) 22.78 18.83 1.14 1.12 590,785.33 5,600.92
29 FBM KLCI Index 1,620.76 1,207.80 (0.19) (0.01) 20.55 20.72 1.66 1.56 1,024.76 244.66
30 NZSE Index 2,019.39 1,356.73 9.92 0.52 37.43 29.16 2.27 1.96 161.53 107.82
31 PCOM P Index 8,216.92 4,039.15 (1,912.68) (24.47) 14.79 17.76 1.47 1.41 7,381.94 150.34
32 FSSTI Index 3,285.72 2,208.42 (663.73) (20.59) 15.21 15.48 0.90 0.88 450.39 329.06
33 KOSPI Index 2,362.24 1,439.43 152.89 6.96 28.70 17.07 0.93 0.98 1,529,762.18 1,291.24
34 TWSE Index 13,031.70 8,523.63 916.36 7.64 21.55 19.84 1.99 2.11 39,053.68 1,327.95
35 SET Index 1,681.81 969.08 (246.62) (15.61) 19.19 22.06 1.49 1.51 14,414.51 463.15
36 SET50 Index 1,118.99 628.97 (204.45) (19.13) 19.08 22.03 1.66 1.57 9,697.87 311.60
37 VNINDEX Index 1,028.97 649.10 (120.95) (12.59) 14.01 15.35 1.86 2.01 2,956,612.74 127.64
T railing F o rwardD o main
C urrencyUSDLOW P OIN T % T railing F o rward
A sia/ P acif ic
A merica
52-WEEK C H A N GE YT D P ER (x) P B V (x) M A R KET C A P (B n)
Euro pe
H IGH
4
LQ45
Source: Bloomberg, Sinarmas Investment Research
www.sinarmassekuritas.co.id See important disclaimer at the end of this report
LQ45 Index
HIGH LOW POINT % Trailing Forward Trailing Forward
1 ACES IJ 1,650 1,890 970 155 10.37 32.49 32.81 5.65 32.81 28,297.50
2 ADRO IJ 1,115 1,715 610 (440) (28.30) 6.36 7.63 0.65 7.63 35,664.35
3 AKRA IJ 2,780 4,350 1,405 (1,170) (29.62) 14.72 14.03 1.30 14.03 11,160.85
4 ANTM IJ 835 1,175 338 (5) (0.60) #N/A N/A 88.44 1.11 88.44 20,065.69
5 ASII IJ 5,225 7,250 3,220 (1,700) (24.55) 9.08 13.83 1.38 13.83 211,526.57
6 BBCA IJ 31,300 35,300 21,625 (2,125) (6.36) 27.61 33.55 4.56 33.55 771,701.81
7 BBNI IJ 4,640 8,175 2,970 (3,210) (40.89) 5.56 13.76 0.80 13.76 86,529.77
8 BBRI IJ 3,110 4,760 2,160 (1,290) (29.32) 11.08 17.90 2.15 17.90 383,605.47
9 BBTN IJ 1,340 2,350 720 (780) (36.79) #N/A N/A 12.93 0.83 12.93 14,190.60
10 BMRI IJ 5,775 8,050 3,660 (1,900) (24.76) 9.57 17.44 1.55 17.44 269,500.00
11 BRPT IJ 920 1,525 426 (590) (39.07) 214.87 62.96 4.57 62.96 85,916.96
12 BSDE IJ 695 1,485 585 (560) (44.62) 21.28 9.87 0.47 9.87 14,714.10
13 BTPS IJ 3,600 5,125 1,790 (650) (15.29) 19.81 28.14 5.14 28.14 27,733.32
14 CPIN IJ 6,275 7,750 3,800 (225) (3.46) 28.97 32.36 4.53 32.36 102,897.45
15 CTRA IJ 645 1,295 394 (395) (37.98) 11.51 13.79 0.80 13.79 11,971.40
16 ERAA IJ 1,525 2,250 805 (270) (15.04) 16.29 20.27 0.98 20.27 4,864.75
17 EXCL IJ 2,530 3,730 1,315 (620) (19.68) 12.44 20.36 1.31 20.36 27,086.21
18 GGRM IJ 51,575 77,000 30,625 (1,425) (2.69) 9.52 10.84 1.81 10.84 99,234.84
19 HMSP IJ 1,675 3,080 1,085 (425) (20.24) 16.39 17.52 7.32 17.52 194,832.78
20 ICBP IJ 10,325 12,550 7,750 (825) (7.40) 20.61 20.91 4.41 20.91 120,409.20
21 INCO IJ 3,690 4,320 1,340 50 1.37 18.37 36.07 1.26 36.07 36,665.09
22 INDF IJ 7,025 8,300 5,000 (900) (11.36) 11.85 11.52 1.52 11.52 61,682.50
23 INKP IJ 8,600 8,825 3,020 900 11.69 9.73 - 0.77 - 47,050.45
24 INTP IJ 12,350 22,700 8,650 (6,675) (35.09) 27.30 29.36 1.93 29.36 45,463.21
25 ITMG IJ 7,975 16,400 5,650 (3,500) (30.50) 5.70 8.27 0.69 8.27 9,011.15
26 JPFA IJ 1,055 1,860 760 (480) (31.27) 11.38 10.39 1.15 10.39 12,371.54
27 JSMR IJ 4,070 5,900 2,230 (1,105) (21.35) 23.57 27.51 1.57 27.51 29,539.54
28 KLBF IJ 1,600 1,695 830 (20) (1.23) 28.45 28.01 4.59 28.01 75,000.20
29 LPPF IJ 1,260 4,500 1,080 (2,950) (70.07) #N/A N/A #N/A N/A 3.20 #N/A N/A 3,534.15
30 MNCN IJ 885 1,780 750 (745) (45.71) 5.40 5.71 0.87 5.71 12,634.35
31 PGAS IJ 1,235 2,460 605 (935) (43.09) 40.77 10.56 0.79 10.56 29,938.26
32 PTBA IJ 2,080 2,870 1,385 (580) (21.80) 6.02 8.03 1.18 8.03 23,962.97
33 PTPP IJ 940 2,020 484 (645) (40.69) 10.01 13.08 0.53 13.08 5,827.90
34 PWON IJ 388 715 266 (182) (31.93) 10.17 9.64 1.32 9.64 18,685.93
35 SCMA IJ 1,255 1,625 600 (155) (10.99) 20.70 17.01 3.54 17.01 18,542.21
36 SMGR IJ 9,600 13,500 5,475 (2,400) (20.00) 22.61 25.62 1.74 25.62 56,942.59
37 SRIL IJ 192 344 113 (68) (26.15) 3.04 - 0.43 - 3,926.82
38 TBIG IJ 1,305 1,365 730 75 6.10 28.72 26.31 4.99 26.31 29,567.38
39 TKIM IJ 6,725 12,475 3,750 (3,550) (34.55) 9.46 - 0.97 - 20,936.43
40 TLKM IJ 3,020 4,440 2,417 (897) (22.90) 16.35 14.38 2.81 14.38 299,167.89
41 TOWR IJ 1,150 1,180 575 345 42.86 21.85 21.81 6.26 21.81 58,666.82
42 UNTR IJ 23,775 23,900 12,000 2,250 10.45 9.05 11.02 1.51 11.02 88,683.96
43 UNVR IJ 8,175 9,795 5,275 (225) (2.68) 42.57 40.10 35.41 40.10 311,876.25
44 WIKA IJ 1,130 2,390 675 (860) (43.22) 4.83 8.59 0.71 8.59 10,136.05
45 WSKT IJ 625 1,885 394 (860) (57.91) 32.06 39.35 0.53 39.35 8,483.72
MARKET CAP
(Bn)LQ45 Index
CHANGE YTD PER (x) PBV (x)6-Aug-20
52-WEEK
5
Macro data
Source: Bloomberg, Sinarmas Investment Research
www.sinarmassekuritas.co.id
D escript io n 1-D ay (%) 5-D ays (%) 1-M o nth (%) YT D (%)
Property 0.86 (2.65) (8.28) (42.10)
Basic Industry 1.15 0.81 0.43 (22.53)
Trade 1.96 0.73 3.62 (18.45)
Finance 0.71 0.99 4.72 (16.54)
M iscellaneous Industry 2.83 1.97 6.46 (23.91)
Consumer 0.39 2.54 6.14 (6.51)
Infrastructure 0.31 1.01 0.72 (20.26)
Agriculture 1.95 1.98 12.17 (22.75)
M ining 2.70 4.74 11.70 (7.18)
Jul-20 Jun-20
0.98 3.61
1.54 1.96
-0.10 0.18
131.70 130.54
F OR EX Spo t R ate 1-D ay (%) 1-M o nth (%) YT D (%)
USD/IDR 14,585.00 - (0.65) (4.93)
USD/CNY 6.95 (0.24) 0.94 0.14
USD/EUR 0.84 0.05 (5.02) (5.55)
USD/JPY 105.58 (0.03) 1.84 2.87
USD/SGD 1.37 (0.04) 1.88 (1.71)
USD/AUD 1.38 0.09 (3.90) (2.93)
USD/GBP 0.76 0.07 (4.49) 0.94
( in %)
4.68
0.29
1.46
5.88
6.79
7.27
Inflation M oM (in %)
Foreign Reserves (in USD bn)
Secto rs
Eco no mic Indicato rs
Inflation YTD (in %)
Eco no mic P arameters
Inflation YoY (in %)
Indonesia 5-Year Government Bonds Yield
Indonesia 10-Year Government Bonds Yield
Indonesia 15-Year Government Bonds Yield
Lending and D epo sit R ates
JIBOR (in IDR)
LIBOR (in GBP)
SIBOR ( in USD)
Technical Corner
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JCI : MIXED MENGUAT
Last price : 5.178
Support : 5.135, 5.075
Resistance : 5.187, 5.228
JCI pada hari ini kami perkirakan akan bergerak MIXED MENGUAT dengan range 5.135 – 5.228. JCI berhasil
breakout Resistance di 5.135, berpeluang mencoba Resistance 5.187 dan 5.228, Namun, jika JCI gagal bertahan
diatas Resistance 5.135, maka akan menguji Support 5.075. Indikator MACD mulai membentuk pola Reversal
dan Stoc osc mengindikasikan pola Uptrend.
Jakarta Composite Index (JCI)
Summary of portfolio:
Stock Recommendation Comment
AALI HOLD AALI belum berhasil bertahan pada Resistance 9.750, berpeluang mengujiSupport di 9.650 dan 9.550. Namun, jika AALI bertahan diatas Resistance
9.750, akan mencoba Resistance 9.800 dan 9.975.
INDF HOLD INDF berhasil bertahan diatas Resistance 7.000, berpeluang mencobaResistance 7.150 dan 7.250. Namun, jika INDF gagal bertahan diatas
Resistance 7.000, maka akan menguji Support 6.800 dan 6.650.
DMAS HOLD Entry point 228 sudah tercapai (6/8), DMAS breakout Resistance 234,berpeluang melanjutkan penguatan dengan mencoba Resistance 242 dan 250.
INKP TAKE PROFIT INKP sudah mencapai Trget price 8.575 (6/8), kami merekomendasikan Takeprofit INKP, Namun, jika INKP bertahan diatas 8.575, akan mencoba
Resistance 8.775 dan 8.975.
AALI : HOLD
Last price : 9.700Target price : 10.300 (7.9%)Stop loss : 9.200 (-3.7%)
AALI belum berhasil bertahan pada Resistance 9.750, berpeluang menguji Support di 9.650 dan 9.550. Namun, jikaAALI bertahan diatas Resistance 9.750, akan mencoba Resistance 9.800 dan 9.975. Indikator Stoc osc mulaimembentuk pola Reversal dan MACD mengindikasikan pola Neutral.
INDF : HOLD
Last price : 7.025Target price : 7.250 (8.2%)Stop loss : 6.475 (-3.4%)
INDF berhasil bertahan diatas Resistance 7.000, berpeluang mencoba Resistance 7.150 dan 7.250. Namun, jika INDFgagal bertahan diatas Resistance 7.000, maka akan menguji Support 6.800 dan 6.650. Indikator MACD dan Stoc oscmengindikasikan pola Uptrend.
Support : 9.650, 9.550Resistance : 9.800, 9.975
Support : 6.900, 6.800Resistance : 7.150, 7.250
Indofood Sukses Makmur Tbk (INDF)
Astra Agro Lestari Tbk (AALI)
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Puradelta Lestari Tbk (DMAS)
Indah Kiat Pulp & Paper Tbk (INKP)
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DMAS : HOLD
Last price : 236Target price : 250 (9.6%)Stop loss : 216 (-5.3%)
Entry point 228 sudah tercapai (6/8), DMAS breakout Resistance 234, berpeluang melanjutkan penguatan denganmencoba Resistance 242 dan 250. Namun, jika DMAS gagal bertahan diatas Resistance 234, masih berpeluang mengujiSupport 226. DMAS dilihat dari Indikator MACD mulai membentuk pola Reversal dan Stoc osc mengindikasikan polaUptrend.
INKP : TAKE PROFIT
Last price : 8.600Target price : 8.575 (5.2%)
INKP sudah mencapai Trget price 8.575 (6/8), kami merekomendasikan Take profit INKP, Namun, jika INKPbertahan diatas 8.575, akan mencoba Resistance 8.775 dan 8.975. INKP dilihat dari Indikator MACD mengindikasikanpola Golden cross dan Stoc osc mengindikasikan pola Uptrend.
Support : 232, 226Resistance : 242, 250
Support : 8.450, 8.250Resistance : 8.775, 8.975
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Equity Research Team
HEAD OF RESEARCH
Evan Lie Hadiwidjaja
Banking, Automotive
Tel: +62 21 3925550 Ext: 615
EQUITY ANALYST
Richard Suherman
Commodities
Tel: +62 21 3925550 Ext: 610
EQUITY ANALYST
Richardson Raymond
Property, Industrial Estate
Tel: +62 21 3925550 Ext: 159
EQUITY ANALYST
Paulina
Consumer, Retail, Cement
Tel: +62 21 3925550 Ext: 610
RESEARCH ASSOCIATE
Andrianto Saputra
Tobacco, Plantation
Tel: +62 21 3925550 Ext: 159
RESEARCH ASSOCIATE
Kharel Devin Fielim
Media, Poultry, Construction
Tel: +62 21 3925550 Ext: 159
TECHNICAL ANALYST
Eddy Wijaya
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