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  • 7/24/2019 20151120_2

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    TRIM DAILYPT Trimegah Securities Tbk - www.trimegah.com 1

    We publish strategy report with JCI target of Rp4,537 and Rp5,27 in !"15#1$, on the ba%& of e%ono'i% growth re%o(ery, 'a)or sti'ulus, and possibilityof earnings upgrade in !"1$* We add +II -./", 0 Rp7,2, ..RI -./", 0Rp13,3, and ! -./", 0 Rp1,* We also release 'a%ro outloo& for!"1$, bullish with 6 re%o(ery at 58, inflation to 'oderate at 58, androo' for lower interest rate ne9t year* We 'et with ..:I -./", 0 Rp5,5,%o'e with ta&eaways; potential downside ris&s fro' lending 'ore ?@+ with ertagas issue raised againafter a year= a positi(e spe%ulation play, still ha(e so'e te%hni%al upsideloo&ing at histori%al ?@+ news flows*

    0RI? aily

    0RI? Aighlights

    Nov 20, 2015

    Ja&arta Co'posite Inde9 -JCI up by 21 point to 451 yesterday* Inde9'o(ers were 'ostly dri(en by 'ining -B1*$8 property -B1*18 and'is%elanious industry -#1*28* 0otal transa%tion (alue was Rp4*tr* JCIre%orded R$$bn net sell by foreign in(estors* JCI today is e9pe%ted tostrengtenen trend and trade in 4435#455 range

    0e%hni%al ?ar&et iew

    6er'anyDs 'oderate e%ono'i% upswing is %ontinue despite rising ris&s lin&edto a %ooling in e'erging 'ar&ets as robust pri(ate %onsu'ption re'ains the&ey growth dri(er* 6er'an e%ono'y grew *3 per%ent in the third Euarterafter e9panding *4 per%ent in the prior three 'onths with net foreign tradebeing a drag while pri(ate and publi% %onsu'ption both in%reased*

    6lobal Wrap

    0e%hni%al analysisF trading pi%&s

    JCI 4,518.9

    6lobal Indi%es

    ual isting -:"G

    Stock Price Rating Reason

    /:0R 172 .uy/:0R a potential upside today with tradingrange 17#1755

    WH: 43 .uyWH: for'ed a white %andle yesterday,WH: ha(e a potential upward 'o(e'ent attrading range 415#445

    ?+ 22 .uy?+ for'ed a bla%& %andle, for today 0

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

    Key akea!ays "ro# #eeting !it$ %%&I S#a''

    %siness i*ision irectors

    Key takea!ays "ro# #eeting !it$ Pak %a#bang Setyat#o+o (%%&I rop -ea o" S#a'' %siness

    /anage#ent) an Pak /. ri 0$i to#o (%%&I /anager, S#a'' %siness i*ision)

    ..:I e9pe%ts to pro(ide Rp1tn go(ern'ent#sponsored 'i%ro loans -

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    PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 3

    :ews of the ay

    C/&P2 3yeing to'' roa pro+ects !ort$ S5.bn in

    t$e ne6t 5 years

    With total length of 35&', C?: will wor& with the

    go(erne'ent to add inter%onne%ting toll roads and open#

    ing up new pro)e%ts in Indonesia* C?: also entered into

    a strategi% allian%e with se(eral global players that ha(e

    the e9pertise in te%hnology, funding and %onstru%tion for

    toll road* C?: also allo%ates Rp2*tn to %ontinue epo

    +ntasari and oreang#asir

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    PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 4

    :ews of the ay

    &R2 51 Scania bses !i'' be arri*e in Jakarta

    soon

    +bout 51 weden#'ade %ania buses will arri(e in Ja&ar#

    ta ne9t 'onth* 0hose buses to add nu'ber of ar'adas

    operating in 0rans)a&arta %orridors* 0he Ja&arta +d'in#

    istration pur%hased the %ania buses for Rp4bn per bus*

    Source: Tem(o

    Comment:

    The Scania bus im(ort is (art o' TR/s business. The

    com(an! has $istributorshi( agreements with Scania 01

    Aktiebog %Swe$en* 'or the e2cusive right to se the

    (ro$uct in In$onesia. As "akarta A$ministration reai3e

    that Scania/s 4uait! is much better than 0hina-ma$e

    buses5 the bus or$er 'or TR seems to be increase in

    the 'uture. %!eni.siman&untak)trimegah.com*

    IS02 Rebran to AInosat Boreo yesteray

    0his 'ade Indosat the th operator in Horedo 6roup to

    adopt the Horedo brand* 0he %o'pany also announ%ed

    its 3#year strategy to a%hie(e top ran& in digital re(enue,

    digital %usto'er e9perioen%e, and digital brand prefer#

    en%e* Regarding 46, the %o'pany delayed its laun%hing

    plan to ne9t wee&* I+0 opti'ists to a%hie(e 46 speed

    up to 112'bps and pro'oting M46 %onne%tion with 36

    tariffN to it subs%ribers* Source: #oomberg5 #isnis In$o-

    nesia

    Comment:+e think this is (art o' the reasons ISAT signe$ icense

    agreement with 6ore$oo. ISAT is tra$ing at 72 89;