daily research template

1 www.samuel.co.id

DAILY

RESEAR

CH

Market

Market Activity

Market Index : 6,126.9

Index Movement : +48.7 0.80%

Market Volume : 18,552 Mn shrs

Market Value : 9,128 Bn rupiah

Last

Close +/- %

Leading Movers

ARTO 14,650 600 4.3

BBRI 3,930 60 1.6

BBCA 33,000 300 0.9

ASII 5,350 100 1.9

Lagging Movers

DCII 46,025 -1,975 -4.1

POLL 3,060 -230 -7.0

TPIA 7,550 -50 -0.7

BDMN 2,690 -100 -3.6

Foreign Net Buy / Sell (Regular Market)

Net Buy (IDR bn) Net Sell (IDR bn)

TLKM 89 ARTO 73

UNTR 63 BBRI 45

PTBA 51 PGAS 31

BBCA 33 UNVR 15

ADRO 28 BSDE 11

Money Market

Last

Close +/- %

USD/IDR 14,263 -10.0 0.1

JIBOR O/N 5.9 0.0

Dual Listing Securities

Last

Close +/- %

TLKM 23.8 0.2 0.8

EIDO 21.6 0.3 1.6

Global Indices

Last

Close +/- %

DJIA 35,369 -75 -0.21

S&P 500 4,535 -2 -0.03

Euro Stoxx 4,202 -30 -0.71

MSCI World 3,164 3 0.08

STI 3,084 -5 -0.16

Nikkei 29,128 -4,372 2.05

Hang Seng 25,902 -188 -0.7

Commodities

Last

Close +/- %

Brent Oil 72.6 -0.4 -0.72

Coal (ICE) 178.8 3.7 1.00

CPO Malay 4,310 69.0 1.63

Gold 1,828 18.1 1.00

Nickel 19,801 320.3 1.64

Tin 33,500 -445.0 -1.33

Changes

Changes

Changes

Changes

Changes

Friday, 03 Sep 2021

IHSG Diperkirakan Melanjutkan Pergerakan Flat Semalam (7/9), bursa AS tutup dikarenakan merayakan Labor Day. Minggu ini

investor global kami perkirakan akan mengantisipasi hasil pertemuan ECB dan data

initial jobless claims AS bulan September, yang akan dirilis pada Kamis (9/9)

mendatang.

Pasar komoditas terpantau bergerak mixed kemarin. WTI naik +0.1% ke level USD

68.9/bbl, Brent bergerak turun (-0.5% ke level USD 72/bbl), batubara turun -0.6%

ke level USD 178/ton, nikel -1.3% ke level USD 19,622/ton, CPO naik +0.5% ke level

MYR 4,330/ton. Harga emas terpantau melemah -0.5% ke level USD 1,824/toz.

Bursa Asia kemarin ditutup naik: Kospi +0.1%, Hang Seng +1.0%, Shanghai +1.1%,

Nikkei +1.8%. IHSG ditutup flat +0.0% pada perdagangan hari Senin (7/9) di level

6,127, dengan net buy asing sebesar IDR 366.9 miliar. Net buy asing tertinggi

dicatatkan oleh BBCA (IDR 79.6 miliar), TLKM (IDR 79.0 miliar), dan BUKA (IDR 52.1

miliar). Net sell asing di pasar regular dicetak oleh TOWR (IDR 42.2 miliar), ARTO

(IDR 36.9 miliar), dan UNVR (IDR 17.7 miliar). Top leading movers adalah BMRI,

EMTK, dan ASII sedangkan top lagging movers adalah BBRI, DCII, dan TPIA.

Kasus harian COVID-19 kembali menurun. Terjadi penambahan 4,413 kasus baru

COVID-19 pada hari Senin (6/9) (Minggu: 5,403 kasus) dengan positive rate sebesar

4.6%. Sejauh ini, telah ditemukan sebanyak 4.1 juta kasus COVID-19 di Indonesia,

dengan 3.85 juta di antaranya sembuh (recovery rate: 93.2%, active case: 146 ribu).

Terkait vaksinasi, sejauh ini 67.1 juta orang di Indonesia telah menerima dosis

pertama vaksin COVID-19 (+372 ribu pada Senin) dan 38.4 juta telah menerima dosis

kedua (+248 ribu pada Senin), merefleksikan 32.3% dari total target.

Pagi ini pasar regional dibuka mixed, dengan Kospi -0.19%, dan Nikkei +0.72%. Kami

memproyeksikan IHSG melanjutkan pergerakan flat mengikuti pergerakan bursa

regional.

DAILY RESEARCH

AKRA : Penandatanganan Perjanjian Pengembangan Pelabuhan

dengan Freeport Indonesia

7 September 2021

Highlights

Equity Research│7 September 2021

www.samuel.co.id 2

COMMODITIESGold: Gold 100 Oz Futures (USD/Troi oz) Oil: Generic 1st Crude Oil, Brent (USD/Barel)

Coal: Newcastle Coal (USD/MT) CPO: Bursa Malaysia Crude Palm Oil (MYR/MT)

Pulp: Generic Bleached Softwood Craft Pulp (CNY/MT) Nickel: London Metal Exchange Nickel Future (USD/MT)

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COVID-19 Data

Indonesia

7 Day Running Covid-19 Data

Total 1D Change Daily 1D Change Total Daily Total Daily Total Closed Cases

Cases % Cases % Recovered Recovered Deaths Deaths Active Cases %

9/6/2021 4,133,433 0.11 4,413 - 2,947,646 - 136,473 612 1,049,314 74.61

9/5/2021 4,129,020 0.13 5,403 - 2,947,646 - 135,861 392 1,045,513 74.68

9/4/2021 4,123,617 0.16 6,727 (59.84) 2,947,646 - 135,469 539 1,040,502 74.77

9/3/2021 4,116,890 0.41 16,752 #DIV/0! 2,947,646 - 134,930 1,254 1,034,314 74.88

9/2/2021 4,100,138 - - (100.00) 2,947,646 - 133,676 - 1,018,816 75.15

9/1/2021 4,100,138 0.25 10,337 (1.87) 2,947,646 - 133,676 653 1,018,816 75.15

8/31/2021 4,089,801 0.26 10,534 93.78 2,947,646 - 133,023 532 1,009,132 75.33

Average 7,738 - 569 74.94

Source: SSI Research, Bloomberg


www.samuel.co.id 3

AKRA: Penandatanganan Perjanjian Pengembangan Pelabuhan dengan Freeport Indonesia

PT Berlian Manyar Sejahtera (BMS), perusahaan yang terafiliasi dengan PT AKR Corporindo Tbk (AKRA) dan PT Freeport

Indonesia (PTFI) telah menandatangani perjanjian pengembangan fasilitas pelabuhan di pelabuhan laut JIIPE di

Manyar, Gresik, Jawa Timur. PTFI bermaksud menggunakan fasilitas dermaga pelabuhan yang akan dibangun oleh

BMS untuk bongkar muat barang PTFI secara eksklusif, termasuk pemasangan peralatan untuk mendukung kegiatan

bongkar muat tersebut. (Press Release)

Comment:

Perjanjian ini memberikan hak eksklusif kepada PTFI untuk menggunakan dan mengakses infrastruktur BMS

selama 40 tahun, untuk mendukung pembangunan dan pengoperasian proyek smelter tembaga dan kilang logam

mulia di KEK JIIPE Gresik. AKRA sendiri mendapatkan pendapatan sewa dari PTFI sebesar IDR 116 miliar pada

FY20. Kami memperkirakan angka tersebut akan meningkat pada FY21F, dan menyumbang 1.4% dari total

pendapatan AKRA di periode tersebut. Kami melihat bahwa kerjasama dengan PTFI ini berpotensi untuk

meningkatkan recurring income AKRA di tahun – tahun mendatang. AKRA: BUY: 15.4x PE '21E, 1.7x PBV '21E,

TP: IDR 4,400


www.samuel.co.id 4

Stock Rec. JCI Wgt Last price TP SSI TP Cons SSI Upside PE (x) PE (x) PBV (x) PBV (x) ROE (%) ROE (%)

(%) (IDR) (IDR) (IDR) (%) 20A 21E 20A 21E 20A 21E

Banks

BBCA BUY 10.9 32,875 40,500 36,437 23.2 29.9 25.5 4.4 4.0 14.7 15.7

BBRI BUY 6.4 3,850 5,300 4,786 37.7 24.5 14.5 2.5 2.3 10.3 15.8

BMRI BUY 3.9 6,200 8,000 7,887 29.0 16.9 12.2 1.5 1.5 9.1 12.1

BBNI BUY 1.4 5,450 8,500 7,115 56.0 34.1 7.9 0.9 0.8 2.6 9.7

BBTN BUY 0.2 1,460 2,300 2,009 57.5 9.6 6.0 0.8 0.7 8.1 11.4

Average 20.2 8.7 1.1 1.0 6.6 11.1

Consumer (Staples)

ICBP BUY 1.4 8,525 12,000 11,211 40.8 19.7 15.1 3.9 3.4 19.9 22.1

INDF BUY 0.8 6,475 9,500 8,448 46.7 11.6 11.7 1.4 1.3 11.9 11.0

KLBF BUY 0.9 1,480 1,750 1,726 18.2 25.1 22.8 4.0 3.7 16.0 16.0

UNVR BUY 2.2 4,250 5,900 5,331 38.8 22.6 22.4 32.9 32.4 145.7 145.0

SIDO BUY 0.3 785 970 940 23.6 25.2 21.7 7.3 6.8 29.1 31.5

Average 20.9 18.7 9.9 9.5 44.5 45.1

Cigarette

HMSP SELL 1.6 1,015 870 1,198 -14.3 13.7 13.9 3.9 3.9 28.5 28.1

GGRM BUY 0.9 33,075 38,240 35,112 15.6 7.5 7.3 1.1 1.0 14.2 13.9

Average 10.6 10.6 2.5 2.5 21.4 21.0

Healthcare

MIKA BUY 0.5 2,350 3,500 3,073 48.9 39.4 37.1 6.9 6.2 17.5 16.8

SILO BUY 0.2 8,100 10,800 10,544 33.3 112.5 31.0 2.2 2.1 2.0 6.8

HEAL BUY 0.3 1,245 1,380 1,426 10.8 11.4 9.9 1.5 1.3 13.3 13.5

Average 54.5 26.0 3.5 3.2 10.9 12.4

Poultry

CPIN BUY 1.4 6,325 7,300 7,348 15.4 35.9 27.6 4.9 4.5 13.7 16.4

JPFA BUY 0.3 1,795 2,400 2,512 33.7 22.4 11.8 1.8 1.5 8.0 13.1

MAIN BUY 0.0 750 1,380 1,098 84.0 n/a 11.0 0.8 0.7 -0.9 6.8

WMUU BUY 0.0 164 370 370 125.6 n/a 6.9 n/a 1.6 n/a 23.1

Average 29.2 16.8 2.5 2.3 7.0 12.1

Retail

MAPI BUY 0.2 760 975 853 28.3 n/a 21.1 2.4 4.9 -10.4 23.1

RALS BUY 0.1 665 900 736 35.3 n/a 14.1 1.1 1.1 -1.5 7.7

ACES BUY 0.3 1,400 1,900 1,514 35.7 29.8 21.9 4.8 4.3 16.1 19.6

LPPF SELL 0.1 2,950 1,100 2,127 -62.7 n/a 22.9 5.0 7.8 -35.0 34.1

Average 29.8 19.0 2.7 3.4 1.4 16.8

Pulp and Paper

INKP SELL 0.6 7,825 7,000 9,900 -10.5 9.0 10.8 0.7 0.7 7.6 6.0

Average 9.0 10.8 0.7 0.7 7.6

Media

MNCN BUY 0.2 870 1,650 1,355 89.7 5.4 4.5 0.7 0.7 13.6 14.6

SCMA HOLD 0.4 2,050 2,200 2,331 7.3 25.6 23.3 6.3 5.5 24.4 23.7

Average 15.5 13.9 3.5 3.1 19.0 19.1

Telco

EXCL BUY 0.4 2,640 3,000 3,333 13.6 75.4 38.3 1.5 1.4 1.9 3.8

ISAT BUY 0.5 5,650 7,250 7,271 28.3 n/a 65.7 2.4 0.3 -5.6 0.4

TLKM BUY 4.6 3,390 4,050 4,223 19.5 16.1 15.0 2.8 2.6 17.2 17.7

Average 45.8 39.7 2.2 1.4 4.5 7.3

Telco Retail

ERAA BUY 0.1 600 1,625 801 170.8 3.2 2.6 0.4 0.3 11.0 11.9

Telco Infra

TBIG SELL 1.0 3,120 2,500 3,189 -19.9 65.0 61.2 10.7 9.5 16.5 15.6

TOWR SELL 1.0 1,380 1,300 1,605 -5.8 23.8 21.6 6.5 5.5 27.2 25.3

Average 44.4 41.4 8.6 7.5 21.9 20.4


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Auto

ASII BUY 3.0 5,425 6,750 6,573 24.4 12.2 11.0 1.1 1.1 9.0 9.6

Average 12.2 11.0 1.1 1.1 9.0

Mining Contracting

UNTR BUY 1.1 21,750 31,000 27,456 42.5 11.7 8.7 1.3 1.2 11.2 13.8

Average 11.7 8.7 1.3 1.2 11.2

Property

BSDE BUY 0.3 985 1,350 1,419 37.1 14.7 11.1 0.6 0.5 4.0 4.9

PWON BUY 0.3 464 530 595 14.2 35.7 12.5 0.9 1.5 2.6 12.1

ASRI SELL 0.0 177 130 218 -26.6 13.6 6.3 0.3 0.3 2.3 4.7

LPKR HOLD 0.1 140 140 193 0.0 n/a n/a 0.3 0.3 -0.5 -0.2

SMRA BUY 0.2 875 1,200 1,046 37.1 51.5 30.2 1.7 1.6 3.4 5.4

CTRA BUY 0.2 950 1,100 1,327 15.8 22.6 17.6 1.2 1.1 5.1 6.2

Average 27.6 15.5 0.8 0.9 2.8 5.5

Industrial Estate

SSIA BUY 0.0 484 700 810 44.6 n/a 44.0 0.6 0.6 -1.6 1.3

DMAS BUY 0.1 190 250 252 31.6 12.7 11.2 1.2 1.4 9.6 12.7

KIJA SELL 0.0 159 150 N/A -5.7 14.5 12.2 0.6 0.4 4.0 3.4

Average 13.6 22.5 0.8 0.8 4.0 5.6

Construction

PTPP BUY 0.1 1,035 1,900 1,259 83.6 47.0 8.4 0.4 0.4 0.9 4.9

ADHI BUY 0.0 840 1,800 1,084 114.3 35.0 8.2 0.5 0.5 1.5 6.1

WSKT BUY 0.2 890 1,400 1,003 57.3 n/a n/a 0.7 0.8 -44.6 -7.4

WIKA BUY 0.1 1,075 1,400 1,337 30.2 11.2 7.3 0.6 0.5 5.0 7.1

Average 31.1 8.0 0.6 0.6 -9.3 2.6

Cement

INTP BUY 0.6 11,200 16,250 14,136 45.1 31.1 25.9 1.8 1.8 5.8 6.9

SMGR BUY 0.7 9,200 13,050 11,975 41.8 24.1 19.4 1.5 1.4 6.3 7.4

Average 27.6 22.6 1.7 1.6 6.1 7.2

Precast

WSBP BUY 0.1 148 230 140 55.4 13.5 4.0 0.4 0.4 2.9 8.9

WTON BUY 0.0 264 450 324 70.5 24.0 7.1 0.7 0.6 2.9 8.9

Average 18.7 5.6 0.5 0.5 2.9 8.9

Oil and Gas

PGAS BUY 0.4 1,095 1,700 1,494 55.3 19.9 15.6 0.7 0.6 3.3 4.1

AKRA BUY 0.2 3,890 4,400 4,207 13.1 16.9 15.4 1.8 1.7 10.6 11.0

MEDC BUY 0.2 494 1,090 888 120.6 n/a 6.8 0.7 0.7 -9.9 9.7

Average 18.4 12.6 1.1 1.0 1.3 8.3

Chemical

TPIA BUY 2.2 7,400 10,250 8,971 38.5 510.3 85.1 5.1 5.1 1.0 6.0

BRPT BUY 1.3 1,010 1,150 1,093 13.9 211.1 129.0 5.4 5.4 2.5 4.2

ESSA SELL 0.1 348 225 593 -35.3 n/a n/a 2.4 1.2 -20.0 -0.5

Average 360.7 107.0 4.3 3.9 -5.5 3.2

Utilities

JSMR BUY 0.4 4,090 5,000 5,108 22.2 62.0 20.6 1.2 1.1 2.0 5.6

Metal

ANTM BUY 0.8 2,380 3,230 3,376 35.7 38.4 23.3 3.0 2.7 7.7 11.7

MDKA HOLD 0.9 2,860 3,000 3,315 4.9 n/a 15.5 10.4 11.3 15.7 72.9

INCO BUY 0.7 5,075 6,700 6,459 32.0 43.8 26.9 1.7 1.6 3.9 6.1

TINS BUY 0.2 1,505 1,775 1,883 17.9 n/a 1710.2 2.1 2.6 -4.2 0.1

Average 41.1 444.0 4.3 4.6 5.8 22.7


www.samuel.co.id 6



Coal

ITMG SELL 0.3 16,875 13,550 18,521 -19.7 28.9 5.6 1.6 1.2 5.4 22.1

ADRO BUY 0.6 1,365 1,530 1,691 12.1 7.6 12.7 1.0 0.8 12.8 6.6

PTBA BUY 0.4 2,310 2,900 2,754 25.5 10.8 9.3 1.6 1.3 14.6 14.2

Average 15.8 9.2 1.4 1.1 10.9 14.3

Plantation

AALI BUY 0.2 8,650 12,300 11,934 42.2 20.0 14.3 0.9 0.8 4.4 5.9

LSIP BUY 0.1 1,095 1,370 1,563 25.1 10.7 8.8 0.8 0.7 7.5 8.3

TBLA BUY 0.1 800 980 990 22.5 6.6 5.4 0.6 0.6 8.9 10.3

SIMP SELL 0.1 432 388 N/A -10.2 39.3 25.4 0.5 0.5 1.2 1.8

SSMS BUY 0.1 835 1,500 1,080 79.6 24.6 10.6 1.8 1.6 7.4 15.0

Average 20.2 12.9 0.9 0.8 5.9 8.3

Source: SSI Research, Bloomberg

Note: GIAA, INKP, PGAS, ITMG, ADRO, MEDC, BRPT, INCO, DOID, TPIA report in USD.


www.samuel.co.id 7

Chg (Pts)

1D 1D 1W 1M 3M YTD 1YR High Low

World 3,170 5.66 0.18 0.90 2.31 5.62 17.83 31.63 3,171 2,276

U.S. (S&P) 4,535 (1.52) (0.03) 0.58 2.23 7.22 20.75 32.35 4,546 3,209

U.S. (DOW) 35,369 (74.73) (0.21) (0.24) 0.46 1.76 15.56 25.72 35,631 26,144

Europe 4,246 44.15 1.05 1.13 1.71 3.62 19.52 28.12 4,253 2,921

Emerging Market 1,324 8.46 0.64 1.20 2.46 (4.07) 2.56 21.00 1,449 1,053

FTSE 100 7,187 48.83 0.68 0.55 0.90 1.55 11.25 21.05 7,224 5,526

CAC 40 6,744 53.51 0.80 0.84 (1.08) 3.06 21.47 33.44 6,914 4,513

Dax 15,932 150.92 0.96 0.28 1.08 1.63 16.13 21.62 16,030 11,450

Indonesia 6,127 0.02 0.00 (0.29) (1.23) 0.94 2.47 17.15 6,505 4,755

Japan 29,914 253.99 0.86 6.49 7.53 3.08 9.00 29.55 30,715 22,879

Australia 7,532 3.31 0.04 (0.04) (0.09) 3.43 14.34 26.70 7,633 5,763

Korea 3,194 (9.68) (0.30) (0.18) (2.35) (1.80) 11.14 33.95 3,316 2,267

Singapore 3,101 17.23 0.56 (0.03) (2.40) (2.35) 9.05 23.49 3,237 2,421

Malaysia 1,582 (7.60) (0.48) (0.54) 6.16 0.20 (2.80) 4.30 1,696 1,452

Hong Kong 26,164 261.64 1.01 2.44 (0.06) (9.11) (3.92) 6.40 31,183 23,124

China 3,622 40.13 1.12 2.66 4.73 0.62 4.28 10.00 3,732 3,202

Taiwan 17,495 (21.62) (0.12) 0.57 (0.18) 2.41 18.75 38.84 18,034 12,150

Thailand 1,648 (1.96) (0.12) 0.89 8.32 2.22 13.73 25.64 1,658 1,187

Philipines 6,877 (20.03) (0.29) 1.33 5.16 1.67 (3.68) 15.86 7,432 5,772


Foreign Reserves (US$Bn) 137.34 0.18 (1.05) 1.06 1.68 138.80 133.60

Inflation Rate (yoy, %) 1.59 1.68 1.33

Gov Bond Yld (10yr, %) 6.10 (11.62) 7.02 5.86

US Fed Rate (%) 0.25 0.25 0.25

Chg (Pts)


Indonesia 14,223 (40.00) 0.28 1.03 0.91 0.30 (1.22) 3.64 14,950 13,865

Japan 109.81 (0.05) 0.05 0.19 0.44 (0.51) (5.97) (3.22) 111.66 102.59

UK 1.38 0.00 0.07 0.66 (0.01) (2.38) 1.29 5.16 1.42 1.27

Euro 1.19 0.00 0.06 0.58 1.19 (2.57) (2.78) 0.51 1.23 1.16

China 6.46 0.00 (0.05) 0.13 0.39 (0.94) 1.07 5.76 6.86 6.36

Chg (Pts)


Oil (Brent) 72.30 0.08 0.11 (0.95) 2.26 1.13 39.58 72.10 77.84 35.74

CPO 4,435 6.00 0.14 (2.74) 0.34 5.57 13.98 53.35 4,839 2,745

Coal 178.35 (0.40) (0.22) 4.09 13.63 61.77 121.55 253.87 180.00 50.00

Tin 32,890 (165.00) (0.50) (2.11) (5.35) 6.56 61.82 80.22 35,955 16,960

Nickel 19,654 (135.00) (0.68) 3.38 2.29 9.07 18.30 28.52 20,110 14,045

Copper 9,451 19.50 0.21 0.43 (0.18) (5.07) 21.69 40.84 10,748 6,269

Gold 1,826 2.54 0.14 0.67 5.54 (3.86) (3.82) (5.58) 1,974 1,677

Silver 24.70 0.02 0.07 3.37 5.33 (11.44) (6.45) (7.95) 30 22

Source: Bloomberg, SSI Research

Change (%) 1 Year

Change (%) 1 Year

Change (%) 1 Year

Commodity Indicators Last Price

Regional Indices Last Price

Exchange Rate (per USD) Last Price

DISCLAIMER: Analyst Certification: The views expressed in this research accurately reflect the personal views of the analyst(s) about the subject securities or issuers and no part of the compensation of the analyst(s) was, is, or will be directly or indirectly related to the inclusion of specific recommendations or views in his research. The analyst(s) principally responsible for the preparation of this research has taken reasonable care to achieve and maintain independence and objectivity in making any recommendations. This document is for information only and for the use of the recipient. It is not to be reproduced or copied or made available to others. Under no circumstances is it to be considered as an offer to sell or solicitation to buy any security. Any recommendation contained in this report may not be suitable for all investors. Moreover, although the information contained herein has been obtained from sources believed to be reliable, its accuracy, completeness and reliability cannot be guaranteed. All rights reserved by PT Samuel Sekuritas Indonesia


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Research Team

Suria Dharma Head of Equity Research, Strategy, Banking, Consumer Staples [email protected] +6221 2854 8148

Lionel Priyadi Macro Strategy and Equity [email protected] +6221 2854 8854

Fikri Permana Senior Economist [email protected] +6221 2854 8144

William Mamudi, CFTe, CMT Technical Analyst [email protected] +6221 2854 8382

Muhamad Alfatih, CSA, CTA, CFTe Senior Technical Portfolio Advisor [email protected] +6221 2854 8129

Yosua Zisokhi Cement , Cigarette,Paper, Plantation,Telco Infra, Chemical [email protected] +6221 2854 8387

Dessy Lapagu Aviation, Coal, Metal, Retail [email protected] +6221 2854 8392

Olivia Laura Anggita Healthcare, Property [email protected] +6221 2854 8346

Farras Farhan Media, Poultry [email protected] +6221 2854 8346

Calista Muskitta Retail, Research Associate [email protected] +6221 2854 8331

Ashalia Fitri Yuliana Research Associate [email protected] +6221 2854 8189

Equity Institutional Team

Benny Bambang Soebagjo Head of Institutional Equity Sales [email protected] +6221 2854 8312

Ronny Ardianto Institutional Equity Sales [email protected] +6221 2854 8399

Anthony Yunus Institutional Equity Sales [email protected] +6221 2854 8314

Henry Sutanto Institutional Equity Sales [email protected] +6221 2854 8329

Fachruly Fiater Sales Trader [email protected] +6221 2854 8325

Lucia Irawati Sales Trader [email protected] +6221 2854 8173

Suryanti Salim Sales Trader [email protected] +6221 2854 8173

Muhammad Faisal Dealer [email protected] +6221 2854 8173

Private Wealth Management

Evelyn Satyono Head of PWM Equity Sales [email protected] +6221 2854 8380

Clarice Wijana PWM Equity Sales [email protected] +6221 2854 8395

Gitta Wahyu Retnani PWM Equity Sales [email protected] +6221 2854 8365

Wahyudi Budiyono Dealer [email protected] +6221 2854 8152

Fixed Income Sales Team

R. Virine Tresna Sundari Head of Fixed Income [email protected] +6221 2854 8170

Rudianto Nugroho Fixed Income Sales [email protected] +6221 2854 8306

Sany Rizal Keliobas Fixed Income Sales [email protected] +6221 2854 8337

Julio Simangunsong Fixed Income Sales [email protected] +6221 28548384

Equity Retail / Online Team

Joseph Soegandhi Head of OLT [email protected] +6221 2854 8872

Nugroho Nuswantoro Head of Marketing Online Trading [email protected] +6221 2854 8372

Damargumilang Head of Equity Retail [email protected] +6221 2854 8309

Salt World Widjaja Retail Equity Sales [email protected] +6221 2854 8163

Michael Alexander Equity Retail [email protected] +6221 2854 8163

Albertha Palma Equity Assistant [email protected] +6221 2854 8163

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