October 3, 2017

Indonesia

Daily Focus
Taye Shim +62-21-515-1140 taye.shim@miraeasset.com

To subscribe to our Daily Focus, please contact us at research@miraeasset.co.id

Market Index (BRPT) Geothermal business: From the bottom up

Last Trade Chg (%) MoM YoY
Barito Pacific (BRPT/Not rated) is engaged in the petrochemical, forestry,
JCI 5,914.0 0.2 0.6 8.0 property, and plantation businesses.
MSCI Indonesia 26.5 -0.6 -1.4 0.9
MSCI EM 1,083.0 0.1 -0.9 18.7
Star Energy’s geothermal business: From the bottom up
HANG SENG 27,554.3 0.5 -1.9 17.7 Star Energy (Not listed) is an independent energy company and a subsidiary of
KOSPI 2,373.1 0.9 0.7 16.1 Barito Pacific. As the largest geothermal operator in Indonesia, Star Energy has
FTSE 7,438.8 0.9 -0.9 5.6 installed capacity of 875MW across three operating sites (Darajat, Salak, and
DJIA 22,557.6 0.7 1.9 22.7 Wayang Windu). With regard to Star Energy’s geothermal business, we
NASDAQ 6,516.7 0.3 0.9 22.5 highlight the following:
Valuation • Management guided conservative capacity expansion over the next six
2017F P/E (x) P/B (x) ROE (%)
years (2023). Although we see limited organic expansion in the near-
JCI 17.6 2.6 18.1 term horizon, we firmly believe the inorganic acquisition of Star
Key Rates Energy will reduce the cyclicality of the petrochemical-driven business
Last Trade Chg (bps) MoM YoY portfolio.
BI 7-Day RR 4.25 0 -25 -100
• Despite ample room for geothermal business expansion, Indonesia has
3yr 6.05 1 -21 -64
been unable to attract new investments into the geothermal business.
10yr 6.51 1 -19 -51
One of the key reasons for the weak geothermal investment appetite
FX was a highly restrictive regulation on geothermal activities. However,
Last Trade Chg (%) MoM YoY with the regulation now lifted, we expect to see more private sector
USD/IDR 13,540.00 0.5 1.0 3.8 involvement.
USD/KRW 1,149.05 0.7 2.0 4.6 • Indonesia’s recent renewable energy regulation (establishing a pricing
USD/JPY 112.77 0.2 2.8 10.9 scheme, with the national BPP as the reference price) may dampen the
USD/CNY 6.65 0.3 1.0 -0.1 appetite for investment. However, given that Star Energy's weighted
Commodities average tariff (USc7/kWh) is on par with the national BPP
Last Trade Chg (%) MoM YoY (USc7.5/kWh), we see the regulatory change having a limited impact.
WTI 50.6 -2.1 5.4 -4.5 On a positive note, we expect to see more tenders for renewable
Gold 1,271.1 -0.7 -4.7 -3.1 energy projects, as the new regulation is likely to reduce the financial
Coal 95.9 1.1 0.1 32.8 burden on state electricity operator Perusahaan Listrik Negara (PLN).
Palm Oil 2,689.0 1.2 2.9 -0.6 • In 2016, BRPT announced that it would acquire a majority stake in Star
Rubber 130.9 0.0 -4.7 7.3 Energy Group Holdings Pte. Ltd (Not listed). BRPT is currently
Nickel 10,500.0 0.6 -12.8 -0.7 finalizing the audit process for Star Energy. Although management has
Copper 6,493.0 0.2 -5.0 34.7 yet to announce details of the acquisition, we do not believe BRPT will
Tin 20,675.0 0.0 0.2 3.2 surprise investors. We value Star Energy at USD1.4bn-1.6bn and
JCI Index VS MSCI Emerging Markets expect BRPT to use a combination of capital reserves, loans, and new
shares issuance.
(pt)
(pt) JCI MSCI EM
6,000 1,250 Site visit to Salak geothermal power plant
We conducted a site visit to Star Energy Geothermal Salak (SEGS), located on
5,500 1,100
Mount Salak, West Java. The site was very clean and well-organized, as one
5,000 950 would expect from a national park. One aspect of the site visit surprised us,
however – the traffic.
4,500 800
09/16 12/16 03/17 06/17 09/17

(pt) JCI MSCI EM (pt)

1,100
5,500
950
Mirae Asset Sekuritas Indonesia
4,500
800
 Indonesia Daily Focus October 3, 2017

Local flash

WOMF: Wahana Makmur Buy WOM Finance shares. PT Wahana Makmur Sejati, the
main dealer of motorcycle sales in Jakarta and Tangerang, purchased 17.44 million
shares of PT Wahana Ottomitra Multiartha Tbk (WOMF) with a purchase price of IDR
3.8 billion. The share purchase transaction took place on Tuesday, September 26, 2017.
(Kontan)

WSKT: Waskita The new contract pocket works of IDR 44.5 T. PT Waskita Karya Tbk
(WSKT) has managed to pocket a new contract of IDR 44.5 trillion during January-
September 2017. The achievement is equal to 74.16% of total company target this
year. Most of the new contracts are obtained from infrastructure projects mainly
related to toll roads (Kontan)

MPPA: Hypermart is ready to expand this month. Sentiment of weakening purchasing

power does not seem to discourage retail business actors to continue expanding. They
are optimistic, economic growth is predicted to improve in the future will have a
positive impact on the performance of retail issuers. One of the issuers in the second
semester is PT Matahari Putra Prima Tbk (MPPA). Danny Kojongian, Corporate
Secretary of MPPA, said that the company in charge of Hypermart and Foodmart
outlets is scheduling additional stores in the second semester. "It's still on the agenda,
although until now there has been no realization of the new opening, it will only begin
in the third week of this month," (Kontan)

UNTR: UNTR shares interim dividend of IDR 282 per share. PT United Tractors Tbk
(UNTR) will distribute interim dividends to shareholders. Based on the information
disclosure of Kustodian Sentral Efek Indonesia (KSEI), Monday (2/10), the interim
dividend distributed was IDR 282 per share, up 97% compared to last year's interim
dividend of IDR 143 per share. The number of outstanding shares of UNTR is 3.73
billion shares. Thus, the value of interim dividends distributed this time amounting to
Rp 533.39 billion. (Kontan)

AUTO: AUTO distributes interim dividend of IDR 13 per share. PT Astra Otoparts Tbk
(AUTO) will distribute interim dividends to shareholders. Based on the information
disclosure of Kustodian Sentral Efek Indonesia (KSEI), Monday (2/10), the interim
dividend distributed by IDR 13 per share, up 44% compared to last year's interim
dividend, IDR 9 per share. AUTO outstanding shares amounted to 4.82 billion shares.
Thus, the value of interim dividends distributed this time is IDR 62.65 billion. (Kontan)

BLTZ: BLTZ is targeting 100 cinemas until 2020. PT Graha Layar Prima Tbk is
currently preparing to expand. Until the year 2020, BLTZ-coded stock issuers are
targeting 100 cinemas. Bernard Kent Sondakh, President Director of PT Graha Layar
Prima Tbk, said the company already has 35 CGV to date. Meanwhile, in April 2018,
BLTZ will inaugurate the 50th CGV. And, until the end of 2018, he hopes to finish
about 13 CGV. (Kontan)

2
Mirae Asset Sekuritas Indonesia
 Indonesia Daily Focus October 3, 2017

Technical analysis
Tasrul +62-21-515-1140 tasrul@miraeasset.co.id

Jakarta Composite Index (JCI) – Limited Upside

Summary
Item Data Item Data
Close (Oct 2, 2017) 5,914.0 (+0.2%)Trading range 5,892 - 5,935
Average index performance (%) 2.99Target
Period 126 - Daily 5,935
r-squared 0.8402 - Weekly 5,950
Volatility (+/-, %) +0.36 / -0.37 - Monthly 5,995
Volatility (+/-, point) +21.29 / -21.88 Stop loss 5,864
Source: Mirae Asset Sekuritas Indonesia Research

Figure 1. Daily trend – Uptrend

^JKSE [ ^JKSE ] - Daily - 10/2/2017 Open: 5,918 High: 5,936 Low: 5,909 Close: 5,914 Chg. 0.2% Vol. 5,038,041,600
Prev. Avg. Price: 5,919.8 6,054.95
R-Squared: 0.8402
Period: 126
Std.: 1.41 5,984.8
Volatility (+) : 0.0036 5,924.33
_____ 5,941.0 5,924.33
Volatility (-) : -0.0037
V-Ratio : 0.97 5,914.03
_____ 5,897.9

5,863.86
5,860.05

5,793.71

Optimization Trading System - ©2010

^JKSE - Volume = 5,038,041,600.00, EMA(Volume,38) = 5,864,465,920.00

5,864,465,920
5,038,041,600

Apr May Jun Jul Aug Sep Oct

Created w ith AmiBroker - advanced charting and technical analysis softw are. http://w w w .amibroker.com

Source: Mirae Asset Sekuritas Indonesia Research

Mirae Asset Sekuritas Indonesia

3
 Indonesia Daily Focus October 3, 2017

Figure 2. Daily MFI optimized ,W%R optimized,RSI optimized , Stochastic %D optimized & Bollinger Band optimized
^JKSE - MFI Smoothed = 63.72
63.718

^JKSE - Will%R Smoothed = -27.44

-27.4361

^JKSE - RSI Smoothed = 74.43

74.4314

^JKSE - Stochastic %D = 58.90, MA = 49.33

58.9025
49.3296

^JKSE - Daily 10/2/2017 Open 5917.75, Hi 5936.14, Lo 5909.11, Close 5914.03 (0.2%) BBTop(Close,38,1.41) = 5,918.48, BBBot(Close,38,1.41) = 5,804.92, SMA Typical Price(Average,38) = 5,859.42

5,914.03
5,859.42

^JKSE [ ^JKSE ] - Daily - 10/2/2017 Open: 5,918 High: 5,936 Low: 5,909 Close: 5,914 Chg. 0.2% Vol. 5,038,041,600
Prev. Avg. Price: 5,919.8
R-Squared: 0.8402
Period: 126 _____ 5,941.0
_____ 5,897.9 5,914.03
Std.: 1.41
Volatility (+) : 0.0036 5,882.73
Volatility (-) : -0.0037 5,860.05
V-Ratio : 0.97

Optimization Trading System - ©2010

^JKSE - Volume = 5,038,041,600.00, EMA(Volume,38) = 5,864,465,920.00

5,864,465,920
5,038,041,600

25 May 8 15 22 29 Jun 12 19 Jul 10 17 24 31Aug 7 14 21 28 Sep 11 18 25 Oct

Created w ith AmiBroker - advanced charting and technical analysis softw are. http://w w w .amibroker.com

Source: Mirae Asset Sekuritas Indonesia Research

4
Mirae Asset Sekuritas Indonesia
 Indonesia Daily Focus October 3, 2017

Figure 3. Weekly Trend – Uptrend, MFI optimized,RSI optimized , Stochastic %D & Bollinger Band optimized
^JKSE - MFI Smoothed = 29.21

29.209

^JKSE - RSI Smoothed = 74.08

74.0762

^JKSE - Stochastic %D = 76.91, MA = 56.81 76.9062

56.8066

^JKSE - Weekly 10/8/2017 Open 5917.75, Hi 5936.14, Lo 5909.11, Close 5914.03 (0.2%) BBTop(Average,17,2) = 5,945.16, BBBot(Average,17,2) = 5,713.58, SMA Typical Price(Average,17) = 5,829.37

5,914.03
5,829.37

^JKSE [ ^JKSE ] - Weekly - 10/8/2017 Open: 5,918 High: 5,936 Low: 5,909 Close: 5,914 Chg. 0.2% Vol. 5,038,041,600
Prev. Avg. Price: 5,919.8
R-Squared: 0.9244 6,121.25
Period: 47 _____ 5,979.4 5,993.48
Std.: 1.78 _____ 5,866.6 5,914.03
Volatility (+) : 0.0101 5,865.71
Volatility (-) : -0.0090
V-Ratio : 1.12

Optimization Trading System - ©2010

^JKSE - Volume = 5,038,041,600.00, EMA(Volume,17) = 25,925,120,000.00

25,925,120,000
5,038,041,600
24Apr May Jun Jul Aug Sep Oct Nov Dec 2017 Feb Mar Apr May Jun 22Jul Aug 31Sep Oct
Created w ith AmiBroker - advanced charting and technical analysis softw are. http://w w w .amibroker.com

Source: Mirae Asset Sekuritas Indonesia Research

Figure 4. Daily : 5,892– 5,935 Figure 5. Weekly : 5,893– 5,950 Figure 6. Monthly : 5,841 – 5,995
^JKSE [ ^JKSE ] - Daily - 10/2/2017 Open: 5,918 High: 5,936
Prev. Avg. Price: 5,919.8 Prev. Avg. Price: 5,919.8 x
^JKSE [ ^JKSE ] - Weekly - 10/8/2017 Open: 5,918 High: 5,936
x
^JKSE [ ^JKSE ] - Monthly - 10/31/2017 Open: 5,918 High: 5,936
Prev. Avg. Price: 5,919.8
R-Squared: 0.8402 R-Squared: 0.9244 R-Squared: 0.7795
Period: 126 Period: 47 Period: 30
Std.Dev: 1.41 _____ 5,941.0 Std.Dev: 1.78 Std.Dev: 1.22
Volatility (+) : 0.0036 5,935.3 Volatility (+) : 0.0101 Volatility (+) : 0.0252
_____ 6,069.2
Volatility (-) : -0.0037 Volatility (-) : -0.0090 Volatility (-) : -0.0265
V-Ratio : 0.97 V-Ratio : 1.12 _____ 5,979.4 V-Ratio : 0.95 5,994.5
Chg.: 0.2% Chg.: 0.2% Chg.: 0.2%
5,949.6 5,914.03
5,919.8
5,919.8
5,919.8 5,914.03 5,914.03 5,841.3
_____ 5,762.8

5,893.2
_____ 5,866.6
_____ 5,897.9

5,892.1

^JKSE - Volume = 5,038,041,600.00 ^JKSE - Volume = 5,038,041,600.00 ^JKSE - Volume = 5,038,041,600.00

5,038,041,600
5,038,041,600 5,038,041,600
18 25 Oct Jun 22Jul Aug 31Sep Oct Jul Oct 2017 Apr Jul Oct
Created w ith AmiBroker - advanced charting and technical analysis sof tw are. http://w w w .amibroker.com Created w ith AmiBroker - advanced charting and technical analysis sof tw are. http://w w w .amibroker.com Created w ith AmiBroker - advanced charting and technical analysis sof tw are. http://w w w .amibroker.com

Source: Mirae Asset Sekuritas Indonesia Research Source: Mirae Asset Sekuritas Indonesia Research Source: Mirae Asset Sekuritas Indonesia Research

Mirae Asset Sekuritas Indonesia

5
 Indonesia Daily Focus October 3, 2017

Chart 7. JCI Vs. USD/IDR Chart 8. JCI performance (absolute vs. relative)
(pt) JCI (L) USD/IDR (R) (IDR) (%, %p) Absolute Relative
6,000 13,800 12
8.2
13,700 8
5,900
13,600
4
1.6
13,500 0.2 0.1 0.3 0.1 0.9
5,800 0
13,400
-4
13,300
5,700
13,200 -8

5,600 13,100 -12 -10.6

7/3 7/31 8/28 9/25 1D 1W 1M 1Y
Note: Relative to MSCI EM Index
Source: Bloomberg, Mirae Asset Sekuritas Indonesia
Source: Bloomberg, Mirae Asset Sekuritas Indonesia

Chart 9. Foreigner’s net purchase (EM) Chart 10. Energy price

(USDmn) 1 Day 5 Days (D-3M=100)

600 506 130 CPO WTI Coal

400 125

200 120
66 39 86
0 115
-2 -5
-200 -95 110
-118
-400 -290 105

-600 100
-588
-800 -711 95

-1,000 -897 90
Korea Taiwan Indonesia Thailand Philippines India 7/3 7/31 8/28 9/25

Note: The latest figure for India are Sept 28th, 2017
Source: Bloomberg, Mirae Asset Sekuritas Indonesia
Source: Bloomberg, Mirae Asset Sekuritas Indonesia

Chart 11. Non-ferrous metal price Chart 12. Precious metal price
(D-3M=100) Copper Nickel Tin (D-3M=100) Silver Gold Platinum
135 115

110

120 105

100

105 95

90

90 85
7/3 7/31 8/28 9/25 7/3 7/31 8/28 9/25

Source: Bloomberg, Mirae Asset Sekuritas Indonesia Source: Bloomberg, Mirae Asset Sekuritas Indonesia

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Mirae Asset Sekuritas Indonesia
 Indonesia Daily Focus October 3, 2017

Table. Key valuation metrics

Price Market Cap Price Performance (%) P/E(X)* P/B(X)* ROE(%)*
Company Name Ticker
(IDR) (IDRbn) 1D 1W 1M 1Y FY16 FY17 FY16 FY17 FY16 FY17
Jakarta Composite Index JCI 5,914 6,496,433 0.2 0.3 0.9 10.2 17.6 15.6 2.6 2.3 18.1 12.2
FINANCIALS
Bank Central Asia BBCA 20,325 501,113 0.1 3.3 7.3 29.5 18.5 21.9 3.4 3.8 20.4 18.8
Bank Mandiri Persero BMRI 6,700 312,667 -0.4 1.9 2.3 19.6 19.6 16.6 1.8 1.9 10.3 12.5
Bank Rakyat Indonesia Persero BBRI 15,250 376,205 -0.2 -2.7 0.8 25.0 10.9 13.3 1.9 2.3 20.2 18.2
Bank Negara Indonesia Persero BBNI 7,475 139,399 1.0 -0.3 1.7 34.7 9.1 10.6 1.2 1.5 13.9 14.3
Bank Tabungan Negara Persero BBTN 3,030 32,088 -3.8 -7.3 0.7 57.8 13.3 12.9 1.0 1.3 7.6 10.6
CONSUMER
HM Sampoerna HMSP 3,950 459,456 2.3 1.0 8.5 0.0 34.8 35.1 13.0 12.7 38.6 37.5
Gudang Garam GGRM 64,775 124,633 -1.6 -3.5 -6.4 4.5 18.4 17.1 3.1 2.9 17.3 17.5
Indofood CBP Sukses Makmur ICBP 8,875 103,499 1.7 -0.3 1.7 -6.3 27.8 26.6 5.7 5.3 21.8 21.0
Indofood Sukses Makmur INDF 8,550 75,073 1.5 -0.9 2.1 -1.7 18.3 16.8 2.4 2.4 14.7 14.2
Kalbe Farma KLBF 1,675 78,516 0.6 -1.8 -2.0 -2.3 30.9 31.3 6.0 5.9 20.6 19.9
Unilever Indonesia UNVR 50,150 382,645 2.4 0.9 -0.8 12.6 46.3 51.9 62.9 69.1 134.1 144.6
AGRICULTURAL
Astra Agro Lestari AALI 14,975 28,822 0.7 0.8 1.5 1.0 14.8 13.5 1.9 1.6 14.1 12.0
PP London Sumatera Indonesia LSIP 1,410 9,620 0.0 0.4 2.5 -5.7 20.0 12.1 1.6 1.2 7.9 9.8
Sawit Sumbermas Sarana SSMS 1,505 14,335 -1.0 0.3 0.3 -3.2 22.5 22.6 3.9 3.7 18.3 16.2
INFRASTRUCTURE
XL Axiata EXCL 3,700 39,545 -1.1 -2.1 2.8 37.0 60.8 129.1 1.2 1.8 2.1 1.4
Jasa Marga JSMR 5,675 41,188 1.3 -0.4 -2.6 23.7 15.6 19.5 2.3 2.6 15.7 13.9
Perusahaan Gas Negara PGAS 1,560 37,817 -1.0 -1.3 -26.4 -45.6 15.3 11.5 1.5 0.9 9.8 8.0
Tower Bersama Infrastructure TBIG 6,475 29,341 -1.5 -1.5 0.8 6.1 17.4 23.6 14.3 13.1 83.6 61.9
Telekomunikasi Indonesia TLKM 4,680 471,744 0.0 0.6 -0.2 9.1 20.3 19.8 4.7 4.8 24.3 25.4
Soechi Lines SOCI 276 1,948 -2.8 -6.1 -1.4 -34.0 8.2 4.1 0.6 N/A 7.4 8.9
Garuda Indonesia GIAA 330 8,543 -1.2 0.0 1.2 -22.9 31.7 18.1 2.6 2.3 8.6 12.2
BASIC-INDUSTRIES
Semen Indonesia SMGR 10,200 60,502 0.7 2.5 -2.6 1.0 12.0 19.0 1.9 2.0 16.3 10.2
Charoen Pokphand Indonesia CPIN 2,750 45,095 0.4 1.1 -0.7 -21.4 22.6 16.2 3.6 2.8 16.5 16.8
Indocement Tunggal Prakarsa INTP 19,250 70,864 1.9 2.4 -2.8 11.0 14.6 27.1 2.2 2.7 15.5 9.6
Japfa Comfeed Indonesia JPFA 1,255 14,320 -1.2 8.2 4.6 -27.7 7.7 9.1 1.9 1.5 28.6 16.7
MINING
Indo Tambangraya Megah ITMG 19,600 22,147 -3.2 0.5 0.8 79.8 10.4 7.4 1.5 1.6 15.0 22.5
Adaro Energy ADRO 1,775 56,775 -2.7 1.1 -2.7 47.3 12.0 9.3 1.3 1.2 11.1 12.8
Aneka Tambang ANTM 640 15,380 0.0 -1.5 -13.5 -22.0 298.3 64.2 1.2 0.9 0.4 0.8
Vale Indonesia INCO 2,600 25,834 0.4 -1.9 -12.5 -11.9 N/A 191.7 1.1 1.0 0.1 0.1
Tambang Batubara Bukit Asam PTBA 10,050 23,157 -3.8 0.8 -18.8 4.4 13.1 7.0 2.5 1.9 20.5 26.5
TRADE
United Tractors UNTR 32,100 119,737 0.3 6.0 5.9 81.4 15.8 17.0 1.9 2.8 12.7 16.2
AKR Corporindo AKRA 7,150 28,601 0.7 1.1 5.5 10.9 23.5 24.6 3.5 3.7 15.7 15.7
Global Mediacom BMTR 595 8,448 5.3 1.7 21.9 -33.1 41.8 N/A 0.9 N/A 2.0 N/A
Matahari Department Store LPPF 9,675 28,231 4.3 -0.8 -3.3 -47.6 21.9 13.6 23.8 11.3 136.4 87.4
Media Nusantara Citra MNCN 1,410 20,129 6.8 4.1 -5.4 -30.2 17.7 12.6 2.7 2.0 15.4 16.4
Matahari Putra Prima MPPA 660 3,549 0.8 1.5 -0.8 -62.7 211.4 N/A 3.3 1.5 1.6 -2.6
Surya Citra Media SCMA 2,140 31,290 -2.3 -4.0 -3.2 -23.6 27.2 18.4 11.9 7.9 45.7 44.9
Siloam International Hospital SILO 10,000 13,006 0.0 0.3 -8.9 -1.3 150.3 107.9 4.5 3.6 3.5 3.7
PROPERTY
Bumi Serpong Damai BSDE 1,790 34,452 1.1 0.6 -2.5 -18.6 18.8 12.9 1.6 1.4 9.1 11.7
Adhi Karya ADHI 2,000 7,122 0.0 -1.0 -1.0 -15.3 23.6 12.3 1.4 1.2 5.9 9.3
Alam Sutera Realty ASRI 382 7,506 1.1 -5.0 6.7 -17.3 13.6 8.7 1.0 1.0 7.5 11.4
Ciputra Development CTRA 1,185 21,994 -0.8 2.6 1.3 -25.5 19.9 19.3 2.2 1.7 9.8 9.3
Lippo Karawaci LPKR 740 17,077 2.1 -1.3 -5.7 -25.3 18.6 16.0 0.9 0.8 5.0 5.5
Pembangunan Perumahan PTPP 2,430 15,066 5.2 -3.2 -13.5 -39.0 23.1 11.0 2.4 1.4 14.4 12.9
Pakuwon Jati PWON 615 29,618 0.8 -4.7 -8.2 -8.9 16.3 15.3 3.1 2.8 21.0 19.0
Summarecon Agung SMRA 1,100 15,869 3.3 3.8 5.3 -37.3 61.3 45.8 3.1 2.3 5.1 5.5
Wijaya Karya WIKA 1,805 16,191 0.8 -2.2 -9.1 -30.4 14.4 13.0 1.8 1.3 12.9 10.0
Waskita Karya WSKT 1,810 24,569 2.0 -2.9 -18.5 -30.9 17.3 9.7 3.1 1.6 16.6 17.6
MISCELLANEOUS
Astra International ASII 7,925 320,832 0.3 1.6 0.6 -3.9 22.1 16.3 3.0 2.6 14.2 16.0
Source: Bloomberg, Mirae Asset Sekuritas Indonesia
*Note: Valuation metrics based on Bloomberg consensus estimates

Mirae Asset Sekuritas Indonesia

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 Indonesia Daily Focus October 3, 2017

Sector performance Top 10 market cap performance

Name Index Chg (%) Ticker Price Market Cap (IDRbn) Chg (%)
Agricultural 1,788.8 0.1 BBMD IJ 1535 6,278 24.80
Mining 1,410.9 -1.7 BTEK IJ 171 7,914 6.88
Basic-Industry 619.8 0.2 MNCN IJ 1410 20,129 6.8
Miscellaneous Industry 1,332.1 0.1 TKIM IJ 2590 8,063 6.15
Consumer Goods 2,534.8 1.4 BSSR IJ 2490 6,515 5.96
Property & Construction 497.2 -0.6 BMTR IJ 595 8,448 5.3
Infrastructure 1,215.0 -0.1 PTPP IJ 2430 15,066 5.19
Finance 1,013.3 0.0 INKP IJ 4390 24,018 4.77
Trade 922.9 0.3 LPPF IJ 9675 28,231 4.31
Composite 5,914.0 0.2 SMRA IJ 1100 15,869 3.3
Source: Bloomberg

Top 5 leading movers Top 5 lagging movers

Name Chg (%) Close Name Chg (%) Close
HMSP IJ 2.3 3,950 PLIN IJ -21.9 3,790
UNVR IJ 2.4 50,150 GGRM IJ -1.6 64,775
ICBP IJ 1.7 8,875 BUMI IJ -13.1 173
BBNI IJ 1.0 7,475 ADRO IJ -2.7 1,775
INTP IJ 1.9 19,250 BBTN IJ -3.8 3,030
Source: Bloomberg

Economic Calendar
Time Currency Detail Forecast Previous
1:00am USD FOMC Member Kaplan Speaks
6:50am JPY Monetary Base y/y 17.2% 16.3%
7:00am AUD HIA New Home Sales m/m -3.7%
All Day CNY Bank Holiday
7:30am AUD Building Approvals m/m 1.1% -1.7%
10:30am AUD Cash Rate 1.50% 1.50%
10:30am AUD RBA Rate Statement
10:45am JPY 10-y Bond Auction 0.01|4.0
12:00pm JPY BOJ Core CPI y/y 0.4%
12:00pm JPY Consumer Confidence 43.5 43.3
12:30pm AUD Commodity Prices y/y 20.1%
2:00pm EUR Spanish Unemployment Change 21.3K 46.4K
All Day EUR German Bank Holiday
3:30pm GBP Construction PMI 51.2 51.1
3:30pm GBP FPC Meeting Minutes
4:00pm EUR PPI m/m 0.1% 0.0%
7:30pm USD FOMC Member Powell Speaks
Tentative NZD GDT Price Index 0.9%
All Day USD Total Vehicle Sales 16.6M 16.1M
11:30pm CAD Gov Council Member Leduc Speaks
Note: Time is based on Indonesian local time
Source: Forex Factory

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Mirae Asset Sekuritas Indonesia
 Indonesia Daily Focus October 3, 2017

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