PEFINDO BETA STOCK

Edition: 09-October-2020

No. TICKER COMPANY RAW BETA ADJUSTED BETA

1. AALI Astra Agro Lestari Tbk. 1.679 1.453
2. ABBA Mahaka Media Tbk. 0.497 0.665
3. ABDA Asuransi Bina Dana Arta Tbk. 0.343 0.562
4. ABMM ABM Investama Tbk. 0.050 0.367
5. ACES Ace Hardware Indonesia Tbk. 0.986 0.990
6. ACST Acset Indonusa Tbk. 2.046 1.697
7. ADES Akasha Wira International Tbk. 0.880 0.920
8. ADHI Adhi Karya (Persero) Tbk. 1.962 1.641
9. ADMF Adira Dinamika Multi Finance Tbk. 0.907 0.938
10. ADMG Polychem Indonesia Tbk. 1.356 1.238
11. ADRO Adaro Energy Tbk. 1.203 1.135
12. AGII Aneka Gas Industri Tbk. 0.930 0.954
13. AGRO Bank Rakyat Indonesia Agroniaga Tbk. 2.084 1.722
14. AGRS Bank Agris Tbk. 0.739 0.826
15. AHAP Asuransi Harta Aman Pratama Tbk. 0.084 0.390
16. AIMS Akbar Indo Makmur Stimec Tbk. 0.141 0.428
17. AISA Tiga Pilar Sejahtera Food Tbk. 0.003 0.335
18. AKKU Alam Karya Unggul Tbk. 0.100 0.400
19. AKPI Argha Karya Prima Industry Tbk. 0.514 0.676
20. AKRA AKR Corporindo Tbk. 1.522 1.348
21. AKSI Majapahit Inti Corpora Tbk. 1.019 1.013
22. ALDO Alkindo Naratama Tbk. 0.205 0.470
23. ALKA Alakasa Industrindo Tbk. 0.304 0.536
24. ALMI Alumindo Light Metal Industry Tbk. 1.054 1.036
25. ALTO Tri Banyan Tirta Tbk. 0.003 0.335
26. AMFG Asahimas Flat Glass Tbk. 0.511 0.674
27. AMIN Ateliers Mecaniques D Indonesie Tbk. 0.251 0.501
28. AMRT Sumber Alfaria Trijaya Tbk. 0.330 0.554
29. ANJT Austindo Nusantara Jaya Tbk. 0.571 0.714
30. ANTM Aneka Tambang (Persero) Tbk. 1.916 1.611
31. APEX Apexindo Pratama Duta Tbk. 0.119 0.413
32. APIC Pacific Strategic Financial Tbk. 0.228 0.485
33. APLI Asiaplast Industries Tbk. 0.600 0.734
34. APLN Agung Podomoro Land Tbk. 1.576 1.384
35. ARGO Argo Pantes Tbk. 0.487 0.658
36. ARII Atlas Resources Tbk. 0.483 0.655
37. ARNA Arwana Citramulia Tbk. 0.569 0.712
38. ARTA Arthavest Tbk. 0.988 0.992
39. ASBI Asuransi Bintang Tbk. 0.080 0.387
40. ASDM Asuransi Dayin Mitra Tbk. 0.102 0.401

Page 1 of 13
 PEFINDO BETA STOCK
Edition: 09-October-2020

No. TICKER COMPANY RAW BETA ADJUSTED BETA

41. ASGR Astra Graphia Tbk. 0.639 0.760
42. ASII Astra International Tbk. 1.503 1.335
43. ASJT Asuransi Jasa Tania Tbk. 0.648 0.765
44. ASMI Asuransi Mitra Maparya Tbk. 0.415 0.610
45. ASRI Alam Sutera Realty Tbk. 1.479 1.319
46. ASRM Asuransi Ramayana Tbk. 0.199 0.466
47. ASSA Adi Sarana Armada Tbk. 1.800 1.533
48. AUTO Astra Otoparts Tbk. 1.047 1.031
49. BABP Bank MNC Internasional Tbk. 0.105 0.403
50. BAJA Saranacentral Bajatama Tbk. 0.459 0.639
51. BALI Bali Towerindo Sentra Tbk. 0.378 0.585
52. BAPA Bekasi Asri Pemula Tbk. 0.199 0.466
53. BATA Sepatu Bata Tbk. 0.125 0.417
54. BBCA Bank Central Asia Tbk. 0.930 0.953
55. BBHI Bank Harda Internasional Tbk. 1.239 1.160
56. BBKP Bank Bukopin Tbk. 1.922 1.615
57. BBMD Bank Mestika Dharma Tbk. 0.885 0.923
58. BBNI Bank Negara Indonesia (Persero) Tbk. 1.866 1.577
59. BBRI Bank Rakyat Indonesia (Persero) Tbk. 1.547 1.364
60. BBRM Pelayaran Nasional Bina Buana Raya Tbk. 0.093 0.395
61. BBTN Bank Tabungan Negara (Persero) Tbk. 2.000 1.667
62. BBYB Bank Yudha Bhakti Tbk. 0.371 0.580
63. BCIC Bank JTrust Indonesia Tbk. 0.258 0.506
64. BCIP Bumi Citra Permai Tbk. 0.301 0.534
65. BDMN Bank Danamon Indonesia Tbk. 1.786 1.524
66. BEST Bekasi Fajar Industrial Estate Tbk. 1.555 1.370
67. BFIN BFI Finance Indonesia Tbk. 1.255 1.170
68. BGTG Bank Ganesha Tbk. 0.638 0.759
69. BHIT MNC Investama Tbk. 0.716 0.811
70. BIKA Binakarya Jaya Abadi Tbk. 0.185 0.456
71. BIMA Primarindo Asia Infrastructure Tbk. 0.053 0.369
72. BINA Bank Ina Perdana Tbk. 0.196 0.464
73. BIPI Benakat Petroleum Energy Tbk. 0.338 0.558
74. BIPP Bhuwanatala Indah Permai Tbk. 0.203 0.469
75. BIRD Blue Bird Tbk. 1.478 1.318
76. BISI BISI International Tbk. 0.938 0.958
77. BJBR Bank Pembangunan Daerah Jawa Barat dan Bante 1.121 1.081
78. BJTM Bank Pembangunan Daerah Jawa Timur Tbk. 1.075 1.050
79. BKDP Bukit Darmo Property Tbk. 0.282 0.522
80. BKSL Sentul City Tbk. 0.795 0.863

Page 2 of 13
 PEFINDO BETA STOCK
Edition: 09-October-2020

No. TICKER COMPANY RAW BETA ADJUSTED BETA

81. BKSW Bank QNB Indonesia Tbk. 0.428 0.619
82. BLTZ Graha Layar Prima Tbk. 0.166 0.444
83. BMAS Bank Maspion Indonesia Tbk. 0.421 0.614
84. BMRI Bank Mandiri (Persero) Tbk. 1.601 1.401
85. BMSR Bintang Mitra Semestaraya Tbk. 0.754 0.836
86. BMTR Global Mediacom Tbk. 1.783 1.522
87. BNBA Bank Bumi Arta Tbk. 0.490 0.660
88. BNBR Bakrie & Brothers Tbk. 0.068 0.379
89. BNGA Bank CIMB Niaga Tbk. 1.401 1.267
90. BNII Bank Maybank Indonesia Tbk. 1.228 1.152
91. BNLI Bank Permata Tbk. 0.947 0.965
92. BOGA Bintang Oto Global Tbk. 0.008 0.339
93. BOLT Garuda Metalindo Tbk. 0.491 0.661
94. BPFI Batavia Prosperindo Finance Tbk. 0.757 0.838
95. BPII Batavia Prosperindo Internasional Tbk. 0.109 0.406
96. BRAM Indo Kordsa Tbk. 1.029 1.020
97. BRMS Bumi Resources Minerals Tbk. 0.306 0.537
98. BRNA Berlina Tbk. 0.216 0.477
99. BRPT Barito Pacific Tbk. 1.758 1.506
100. BSDE Bumi Serpong Damai Tbk. 1.434 1.289
101. BSIM Bank Sinarmas Tbk. 0.187 0.458
102. BSSR Baramulti Suksessarana Tbk. 0.249 0.499
103. BTEK Bumi Teknokultura Unggul Tbk. 0.275 0.517
104. BTON Betonjaya Manunggal Tbk. 1.244 1.163
105. BTPN Bank Tabungan Pensiunan Nasional Tbk. 1.109 1.073
106. BUDI Budi Starch & Sweetener Tbk. 0.573 0.715
107. BUKK Bukaka Teknik Utama Tbk. 0.208 0.472
108. BULL Buana Listya Tama Tbk. 0.795 0.863
109. BUMI Bumi Resources Tbk. 0.678 0.785
110. BUVA Bukit Uluwatu Villa Tbk. 0.505 0.670
111. BVIC Bank Victoria International Tbk. 0.300 0.533
112. BWPT Eagle High Plantations Tbk. 1.834 1.556
113. BYAN Bayan Resources Tbk. 0.130 0.420
114. CARS Industri dan Perdagangan Bintraco Dharma Tbk. 0.909 0.939
115. CASA Capital Financial Indonesia Tbk. 0.419 0.612
116. CEKA Wilmar Cahaya Indonesia Tbk. 0.891 0.927
117. CENT Centrin Online Tbk. 1.328 1.219
118. CFIN Clipan Finance Indonesia Tbk. 0.839 0.892
119. CINT Chitose Internasional Tbk. 0.159 0.440
120. CITA Cita Mineral Investindo Tbk. 0.086 0.391

Page 3 of 13
 PEFINDO BETA STOCK
Edition: 09-October-2020

No. TICKER COMPANY RAW BETA ADJUSTED BETA

121. CLEO Sariguna Primatirta Tbk. 0.784 0.856
122. CLPI Colorpak Indonesia Tbk. 0.828 0.886
123. CMNP Citra Marga Nusaphala Persada Tbk. 0.395 0.597
124. CNKO Exploitasi Energi Indonesia Tbk. 0.000 0.334
125. CNTX Century Textile Industry Tbk. 0.298 0.532
126. COWL Cowell Development Tbk. 0.163 0.442
127. CPIN Charoen Pokphand Indonesia Tbk. 1.599 1.400
128. CSAP Catur Sentosa Adiprana Tbk. 0.308 0.539
129. CSIS Cahayasakti Investindo Sukses Tbk. 0.486 0.657
130. CTBN Citra Tubindo Tbk. 0.497 0.664
131. CTRA Ciputra Development Tbk. 1.864 1.576
132. CTTH Citatah Tbk. 0.148 0.432
133. DART Duta Anggada Realty Tbk. 0.042 0.361
134. DEFI Danasupra Erapacific Tbk. 0.023 0.349
135. DEWA Darma Henwa Tbk. 0.080 0.387
136. DGIK Nusa Konstruksi Enjiniring Tbk. 0.240 0.494
137. DILD Intiland Development Tbk. 0.593 0.729
138. DKFT Central Omega Resources Tbk. 1.090 1.060
139. DLTA Delta Djakarta Tbk. 0.705 0.804
140. DMAS Puradelta Lestari Tbk. 1.903 1.602
141. DOID Delta Dunia Makmur Tbk. 2.386 1.924
142. DPNS Duta Pertiwi Nusantara Tbk. 0.602 0.735
143. DPUM Dua Putra Utama Makmur Tbk. 0.081 0.387
144. DSFI Dharma Samudera Fishing Industries Tbk. 0.546 0.697
145. DSNG Dharma Satya Nusantara Tbk. 0.607 0.738
146. DUTI Duta Pertiwi Tbk. 0.279 0.519
147. DVLA Darya-Varia Laboratoria Tbk. 0.403 0.602
148. DYAN Dyandra Media International Tbk. 0.612 0.741
149. ECII Electronic City Indonesia Tbk. 0.344 0.563
150. EKAD Ekadharma International Tbk. 0.907 0.938
151. ELSA Elnusa Tbk. 1.566 1.378
152. EMDE Megapolitan Developments Tbk. 0.034 0.356
153. EMTK Elang Mahkota Teknologi Tbk. 0.020 0.347
154. ENRG Energi Mega Persada Tbk. 1.042 1.028
155. EPMT Enseval Putera Megatrading Tbk. 0.080 0.387
156. ERAA Erajaya Swasembada Tbk. 1.731 1.488
157. ESSA Surya Esa Perkasa Tbk. 1.802 1.535
158. ESTI Ever Shine Tex Tbk. 0.259 0.506
159. ETWA Eterindo Wahanatama Tbk. 0.369 0.579
160. EXCL XL Axiata Tbk. 1.417 1.278

Page 4 of 13
 PEFINDO BETA STOCK
Edition: 09-October-2020

No. TICKER COMPANY RAW BETA ADJUSTED BETA

161. FAST Fast Food Indonesia Tbk. 0.401 0.600
162. FASW Fajar Surya Wisesa Tbk. 0.080 0.386
163. FISH FKS Multi Agro Tbk. 0.733 0.822
164. FORU Fortune Indonesia Tbk. 0.301 0.534
165. FPNI Lotte Chemical Titan Tbk. 0.983 0.989
166. FREN Smartfren Telecom Tbk. 1.909 1.606
167. GAMA Gading Development Tbk. 0.052 0.368
168. GDST Gunawan Dianjaya Steel Tbk. 0.372 0.581
169. GDYR Goodyear Indonesia Tbk. 0.526 0.684
170. GEMA Gema Grahasarana Tbk. 0.256 0.504
171. GGRM Gudang Garam Tbk. 1.041 1.028
172. GIAA Garuda Indonesia (Persero) Tbk. 1.709 1.473
173. GJTL Gajah Tunggal Tbk. 1.703 1.469
174. GLOB Global Teleshop Tbk. 0.498 0.666
175. GMTD Gowa Makassar Tourism Development Tbk. 0.026 0.350
176. GOLD Golden Retailindo Tbk. 0.417 0.611
177. GPRA Perdana Gapuraprima Tbk. 0.398 0.599
178. GTBO Garda Tujuh Buana Tbk. 1.356 1.237
179. GWSA Greenwood Sejahtera Tbk. 1.170 1.114
180. GZCO Gozco Plantations Tbk. 0.182 0.455
181. HADE HD Capital Tbk. 0.041 0.361
182. HDFA HD Finance Tbk. 0.141 0.427
183. HERO Hero Supermarket Tbk. 0.011 0.340
184. HEXA Hexindo Adiperkasa Tbk. 0.936 0.958
185. HITS Humpuss Intermoda Transportasi Tbk. 0.278 0.519
186. HMSP H.M. Sampoerna Tbk. 1.054 1.036
187. HOKI Buyung Poetra Sembada Tbk. 0.497 0.665
188. HRTA Hartadinata Abadi Tbk. 0.314 0.543
189. HRUM Harum Energy Tbk. 0.600 0.734
190. IBFN Intan Baruprana Finance Tbk. 0.531 0.687
191. ICBP Indofood CBP Sukses Makmur Tbk. 0.515 0.677
192. ICON Island Concepts Indonesia Tbk. 0.533 0.688
193. IDPR Indonesia Pondasi Raya Tbk. 0.994 0.996
194. IGAR Champion Pacific Indonesia Tbk. 0.757 0.838
195. IKAI Intikeramik Alamasri Industri Tbk. 0.647 0.765
196. IKBI Sumi Indo Kabel Tbk. 0.473 0.649
197. IMAS Indomobil Sukses Internasional Tbk. 1.334 1.223
198. IMJS Indomobil Multi Jasa Tbk. 1.467 1.312
199. IMPC Impack Pratama Industri Tbk. 0.161 0.441
200. INAF Indofarma Tbk. 0.476 0.651

Page 5 of 13
 PEFINDO BETA STOCK
Edition: 09-October-2020

No. TICKER COMPANY RAW BETA ADJUSTED BETA

201. INAI Indal Aluminium Industry Tbk. 0.305 0.537
202. INCF Amstelco Indonesia Tbk 0.660 0.774
203. INCI Intanwijaya Internasional Tbk. 0.365 0.576
204. INCO Vale Indonesia Tbk. 1.710 1.473
205. INDF Indofood Sukses Makmur Tbk. 0.881 0.921
206. INDR Indo-Rama Synthetics Tbk. 0.435 0.623
207. INDS Indospring Tbk. 0.842 0.895
208. INDX Tanah Laut Tbk. 0.315 0.543
209. INDY Indika Energy Tbk. 1.685 1.457
210. INKP Indah Kiat Pulp & Paper Tbk. 2.193 1.795
211. INPC Bank Artha Graha Internasional Tbk. 0.253 0.502
212. INPP Indonesian Paradise Property Tbk. 0.778 0.852
213. INRU Toba Pulp Lestari Tbk. 0.029 0.353
214. INTA Intraco Penta Tbk. 0.660 0.773
215. INTD Inter Delta Tbk. 0.255 0.503
216. INTP Indocement Tunggal Prakasa Tbk. 1.326 1.217
217. IPOL Indopoly Swakarsa Industry Tbk. 0.788 0.859
218. ISAT Indosat Tbk. 1.951 1.634
219. ISSP Steel Pipe Industry of Indonesia Tbk. 1.071 1.047
220. ITMA Sumber Energi Andalan Tbk. 1.173 1.115
221. ITMG Indo Tambangraya Megah Tbk. 1.313 1.209
222. JGLE Graha Andrasentra Propertindo Tbk. 0.267 0.512
223. JIHD Jakarta International Hotels & Development Tbk. 0.122 0.415
224. JPFA Japfa Comfeed Indonesia Tbk. 1.603 1.402
225. JRPT Jaya Real Property Tbk. 0.670 0.780
226. JSMR Jasa Marga (Persero) Tbk. 1.462 1.308
227. JSPT Jakarta Setiabudi Internasional Tbk. 0.146 0.431
228. JTPE Jasuindo Tiga Perkasa Tbk. 0.403 0.602
229. KAEF Kimia Farma Tbk. 0.219 0.479
230. KARW ICTSI Jasa Prima Tbk. 0.578 0.719
231. KBLI KMI Wire & Cable Tbk. 0.769 0.846
232. KBLM Kabelindo Murni Tbk. 0.146 0.430
233. KDSI Kedawung Setia Industrial Tbk. 0.993 0.996
234. KIAS Keramika Indonesia Assosiasi Tbk. 0.190 0.460
235. KIJA Kawasan Industri Jababeka Tbk. 1.086 1.057
236. KINO Kino Indonesia Tbk. 1.051 1.034
237. KIOS Kioson Komersial Indonesia Tbk. 0.721 0.814
238. KKGI Resource Alam Indonesia Tbk. 1.124 1.083
239. KLBF Kalbe Farma Tbk. 1.132 1.088
240. KMTR Kirana Megatara Tbk. 1.171 1.114

Page 6 of 13
 PEFINDO BETA STOCK
Edition: 09-October-2020

No. TICKER COMPANY RAW BETA ADJUSTED BETA

241. KOBX Kobexindo Tractors Tbk. 0.868 0.912
242. KOIN Kokoh Inti Arebama Tbk. 0.236 0.491
243. KONI Perdana Bangun Pusaka Tbk. 1.032 1.021
244. KOPI Mitra Energi Persada Tbk. 0.105 0.403
245. KPIG MNC Land Tbk. 0.152 0.435
246. KRAH Grand Kartech Tbk. 1.261 1.174
247. KRAS Krakatau Steel (Persero) Tbk. 2.211 1.808
248. KREN Kresna Graha Sekurindo Tbk. 0.992 0.995
249. LEAD Logindo Samudramakmur Tbk. 0.609 0.740
250. LINK Link Net Tbk. 0.652 0.768
251. LION Lion Metal Works Tbk. 0.596 0.731
252. LMAS Limas Centric Indonesia Tbk. 1.204 1.136
253. LMPI Langgeng Makmur Industri Tbk. 0.092 0.395
254. LPCK Lippo Cikarang Tbk. 2.024 1.682
255. LPIN Multi Prima Sejahtera Tbk. 0.544 0.696
256. LPKR Lippo Karawaci Tbk. 1.220 1.147
257. LPPF Matahari Department Store Tbk. 1.726 1.484
258. LPPS Lippo Securities Tbk. 0.532 0.688
259. LRNA Eka Sari Lorena Transport Tbk. 0.192 0.461
260. LSIP PP London Sumatra Indonesia Tbk. 1.283 1.188
261. LTLS Lautan Luas Tbk. 0.738 0.825
262. MAGP Multi Agro Gemilang Plantation Tbk. 0.006 0.337
263. MAIN Malindo Feedmill Tbk. 1.877 1.585
264. MAPB MAP Boga Adiperkasa Tbk. 0.397 0.598
265. MAPI Mitra Adiperkasa Tbk. 1.472 1.315
266. MARK Mark Dynamics Indonesia Tbk. 1.118 1.079
267. MASA Multistrada Arah Sarana Tbk. 0.232 0.488
268. MAYA Bank Mayapada Internasional Tbk. 0.464 0.643
269. MBAP Mitrabara Adiperdana Tbk. 0.916 0.944
270. MBSS Mitrabahtera Segara Sejati Tbk. 1.633 1.422
271. MBTO Martina Berto Tbk. 0.365 0.577
272. MCOR Bank Windu Kentjana International Tbk. 1.222 1.148
273. MDKA Merdeka Copper Gold Tbk. 0.669 0.779
274. MDKI Emdeki Utama Tbk. 0.274 0.516
275. MDLN Modernland Realty Ltd. Tbk. 1.408 1.272
276. MEDC Medco Energi International Tbk. 1.858 1.572
277. MERK Merck Tbk. 1.161 1.107
278. META Nusantara Infrastructure Tbk. 0.648 0.765
279. MFIN Mandala Multifinance Tbk. 0.558 0.705
280. MFMI Multifiling Mitra Indonesia Tbk. 0.360 0.573

Page 7 of 13
 PEFINDO BETA STOCK
Edition: 09-October-2020

No. TICKER COMPANY RAW BETA ADJUSTED BETA

281. MICE Multi Indocitra Tbk. 0.285 0.523
282. MIDI Midi Utama Indonesia Tbk. 0.029 0.353
283. MIKA Mitra Keluarga Karyasehat Tbk. 0.708 0.805
284. MINA Sanurhasta Mitra Tbk. 0.476 0.650
285. MKNT Mitra Komunikasi Nusantara Tbk. 0.119 0.413
286. MLBI Multi Bintang Indonesia Tbk. 0.628 0.752
287. MLIA Mulia Industrindo Tbk. 0.422 0.615
288. MLPL Multipolar Tbk. 1.259 1.173
289. MLPT Multipolar Technology Tbk. 0.506 0.671
290. MMLP Mega Manunggal Property Tbk. 0.424 0.616
291. MNCN Media Nusantara Citra Tbk. 1.436 1.291
292. MPMX Mitra Pinasthika Mustika Tbk. 0.441 0.627
293. MPOW Megapower Makmur Tbk. 0.680 0.787
294. MPPA Matahari Putra Prima Tbk. 1.481 1.320
295. MRAT Mustika Ratu Tbk. 0.402 0.601
296. MSKY MNC Sky Vision Tbk. 0.294 0.530
297. MTDL Metrodata Electronics Tbk. 1.140 1.093
298. MTLA Metropolitan Land Tbk. 0.678 0.786
299. MTSM Metro Realty Tbk. 0.013 0.342
300. MYOH Samindo Resources Tbk. 0.587 0.724
301. MYOR Mayora Indah Tbk. 0.471 0.647
302. NASA Ayana Land International Tbk. 0.102 0.401
303. NIKL Pelat Timah Nusantara Tbk. 1.371 1.247
304. NIRO Nirvana Development Tbk. 0.061 0.374
305. NISP Bank OCBC NISP Tbk. 0.209 0.472
306. NRCA Nusa Raya Cipta Tbk. 0.806 0.871
307. OASA Protech Mitra Perkasa Tbk. 0.663 0.776
308. OKAS Ancora Indonesia Resources Tbk. 0.858 0.905
309. OMRE Indonesia Prima Property Tbk. 2.349 1.899
310. PADI Minna Padi Investama Tbk. 0.284 0.523
311. PALM Provident Agro Tbk. 0.299 0.532
312. PANR Panorama Sentrawisata Tbk. 1.386 1.257
313. PANS Panin Sekuritas Tbk. 1.016 1.011
314. PBRX Pan Brothers Tbk. 0.858 0.905
315. PBSA Paramita Bangun Sarana Tbk. 0.646 0.764
316. PDES Destinasi Tirta Nusantara Tbk. 0.672 0.781
317. PGAS PT Perusahaan Gas Negara Tbk. 2.331 1.887
318. PICO Pelangi Indah Canindo Tbk. 1.054 1.036
319. PJAA Pembangunan Jaya Ancol Tbk. 1.114 1.076
320. PLIN Plaza Indonesia Realty Tbk. 0.225 0.483

Page 8 of 13
 PEFINDO BETA STOCK
Edition: 09-October-2020

No. TICKER COMPANY RAW BETA ADJUSTED BETA

321. PNBN Bank Pan Indonesia Tbk. 1.569 1.380
322. PNBS Bank Panin Syariah Tbk. 0.275 0.517
323. PNIN Panin Insurance Tbk. 1.260 1.174
324. PNLF Panin Financial Tbk. 1.332 1.222
325. PORT Nusantara Pelabuhan Handal Tbk. 0.173 0.449
326. POWR Cikarang Listrindo Tbk. 0.695 0.797
327. PPRO PP Properti Tbk. 0.693 0.795
328. PRDA Prodia Widyahusada Tbk. 0.526 0.684
329. PSAB J Resources Asia Pasifik Tbk. 0.944 0.963
330. PSDN Prasidha Aneka Niaga Tbk. 0.256 0.504
331. PTBA Tambang Batubara Bukit Asam (Persero) Tbk. 1.116 1.078
332. PTIS Indo Straits Tbk. 0.806 0.870
333. PTPP PP (Persero) Tbk. 2.532 2.021
334. PTRO Petrosea Tbk. 1.590 1.393
335. PTSN Sat Nusapersada Tbk. 2.225 1.816
336. PTSP Pioneerindo Gourmet International Tbk. 0.211 0.474
337. PUDP Pudjiadi Prestige Tbk. 0.305 0.537
338. PWON Pakuwon Jati Tbk. 1.662 1.441
339. PYFA Pyridam Farma Tbk. 0.879 0.919
340. RAJA Rukun Raharja Tbk. 1.240 1.160
341. RALS Ramayana Lestari Sentosa Tbk. 1.505 1.336
342. RANC Supra Boga Lestari Tbk. 0.591 0.727
343. RBMS Ristia Bintang Mahkotasejati Tbk. 0.455 0.637
344. RDTX Roda Vivatex Tbk. 0.517 0.678
345. RICY Ricky Putra Globalindo Tbk. 0.078 0.385
346. RIGS Rig Tenders Indonesia Tbk. 1.168 1.112
347. RMBA Bentoel Internasional Investama Tbk. 0.204 0.469
348. RODA Pikko Land Development Tbk. 0.494 0.662
349. ROTI Nippon Indosari Corpindo Tbk. 0.341 0.561
350. RUIS Radiant Utama Interinsco Tbk. 0.600 0.733
351. SAFE Steady Safe Tbk. 0.266 0.510
352. SAME Sarana Meditama Metropolitan Tbk. 0.310 0.540
353. SCCO Supreme Cable Manufacturing & Commerce Tbk. 0.123 0.415
354. SCMA Surya Citra Media Tbk. 1.504 1.336
355. SDMU Sidomulyo Selaras Tbk. 0.401 0.601
356. SDPC Millennium Pharmacon International Tbk. 0.924 0.950
357. SDRA Bank Woori Saudara Indonesia 1906 Tbk. 0.098 0.398
358. SHIP Sillo Maritime Perdana Tbk. 0.153 0.435
359. SIDO Industri Jamu dan Farmasi Sido Muncul Tbk. 0.554 0.703
360. SILO Siloam International Hospitals Tbk. 0.534 0.690

Page 9 of 13
 PEFINDO BETA STOCK
Edition: 09-October-2020

No. TICKER COMPANY RAW BETA ADJUSTED BETA

361. SIMP Salim Ivomas Pratama Tbk. 1.399 1.266
362. SIPD Sierad Produce Tbk. 0.407 0.605
363. SKLT Sekar Laut Tbk. 0.126 0.417
364. SMAR Smart Tbk. 0.898 0.932
365. SMBR Semen Baturaja (Persero) Tbk. 2.109 1.739
366. SMCB Holcim Indonesia Tbk. 1.282 1.188
367. SMDM Suryamas Dutamakmur Tbk. 0.596 0.731
368. SMDR Samudera Indonesia Tbk. 1.665 1.444
369. SMGR Semen Indonesia (Persero) Tbk. 1.559 1.373
370. SMMA Sinarmas Multiartha Tbk. 0.228 0.486
371. SMMT Golden Eagle Energy Tbk. 0.867 0.912
372. SMRA Summarecon Agung Tbk. 2.101 1.734
373. SMSM Selamat Sempurna Tbk. 0.805 0.870
374. SOCI Soechi Lines Tbk. 1.494 1.329
375. SONA Sona Topas Tourism Industry Tbk. 0.071 0.380
376. SPMA Suparma Tbk. 0.655 0.770
377. SQMI Renuka Coalindo Tbk. 0.720 0.813
378. SRAJ Sejahteraraya Anugrahjaya Tbk. 0.315 0.544
379. SRIL Sri Rejeki Isman Tbk. 1.144 1.096
380. SRSN Indo Acidatama Tbk. 0.308 0.539
381. SRTG Saratoga Investama Sedaya Tbk. 0.339 0.560
382. SSIA Surya Semesta Internusa Tbk. 1.223 1.149
383. SSTM Sunson Textile Manufacture Tbk. 0.154 0.436
384. STAR Star Petrochem Tbk. 0.672 0.781
385. SULI SLJ Global Tbk. 0.504 0.669
386. SUPR Solusi Tunas Pratama Tbk. 0.097 0.398
387. TAMU Pelayaran Tamarin Samudra Tbk. 0.089 0.393
388. TBIG Tower Bersama Infrastructure Tbk. 1.206 1.138
389. TBLA Tunas Baru Lampung Tbk. 1.283 1.189
390. TBMS Tembaga Mulia Semanan Tbk. 0.126 0.417
391. TCID Mandom Indonesia Tbk. 0.031 0.354
392. TFCO Tifico Fiber Indonesia Tbk. 0.625 0.750
393. TGKA Tigaraksa Satria Tbk. 0.252 0.501
394. TGRA Terregra Asia Energy Tbk. 0.684 0.789
395. TIFA Tifa Finance Tbk. 0.768 0.846
396. TINS Timah (Persero) Tbk. 2.097 1.731
397. TIRA Tira Austenite Tbk. 0.110 0.407
398. TIRT Tirta Mahakam Resources Tbk. 0.098 0.399
399. TKIM Pabrik Kertas Tjiwi Kimia Tbk. 2.104 1.736
400. TLKM Telekomunikasi Indonesia (Persero) Tbk. 0.701 0.800

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 PEFINDO BETA STOCK
Edition: 09-October-2020

No. TICKER COMPANY RAW BETA ADJUSTED BETA

401. TMAS Pelayaran Tempuran Emas Tbk. 0.253 0.502
402. TMPO Tempo Intimedia Tbk. 0.093 0.395
403. TOBA Toba Bara Sejahtra Tbk. 0.032 0.354
404. TOPS Totalindo Eka Persada Tbk. 0.555 0.703
405. TOTL Total Bangun Persada Tbk. 0.890 0.927
406. TOTO Surya Toto Indonesia Tbk. 0.618 0.745
407. TOWR Sarana Menara Nusantara Tbk. 1.011 1.008
408. TPIA Chandra Asri Petrochemical Tbk. 0.960 0.973
409. TPMA Trans Power Marine Tbk. 0.389 0.592
410. TRIM Trimegah Securities Tbk. 0.187 0.458
411. TRIS Trisula International Tbk. 0.018 0.345
412. TRST Trias Sentosa Tbk. 0.438 0.625
413. TRUS Trust Finance Indonesia Tbk. 0.012 0.341
414. TSPC Tempo Scan Pacific Tbk. 0.725 0.816
415. TURI Tunas Ridean Tbk. 0.000 0.334
416. ULTJ Ultra Jaya Milk Industry & Trading Company, Tbk. 0.470 0.647
417. UNIC Unggul Indah Cahaya Tbk. 0.707 0.805
418. UNIT Nusantara Inti Corpora Tbk. 0.443 0.629
419. UNSP Bakrie Sumatra Plantations Tbk. 1.174 1.116
420. UNTR United Tractors Tbk. 0.986 0.991
421. UNVR Unilever Indonesia Tbk. 0.661 0.774
422. VINS Victoria Insurance Tbk. 0.093 0.395
423. VIVA Visi Media Asia Tbk. 0.478 0.652
424. VOKS Voksel Electric Tbk. 0.516 0.677
425. VRNA Verena Multi Finance Tbk. 0.149 0.432
426. WAPO Wahana Pronatural Tbk. 0.136 0.424
427. WEHA WEHA Transportasi Indonesia Tbk. 1.159 1.106
428. WIIM Wismilak Inti Makmur Tbk. 2.228 1.819
429. WIKA Wijaya Karya (Persero) Tbk. 2.290 1.860
430. WINS Wintermar Offshore Marine Tbk. 0.696 0.797
431. WOMF Wahana Ottomitra Multiartha Tbk. 0.904 0.936
432. WOOD Integra Indocabinet Tbk. 0.840 0.893
433. WSBP Waskita Beton Precast Tbk. 1.700 1.467
434. WSKT Waskita Karya (Persero) Tbk. 2.451 1.967
435. WTON Wijaya Karya Beton Tbk. 1.745 1.497
436. YPAS Yanaprima Hastapersada Tbk. 0.200 0.467
437. YULE Yulie Sekurindo Tbk. 0.252 0.502
438. ZBRA Zebra Nusantara Tbk. 0.486 0.657

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 Criteria and Calculation Methodology of PEFINDO Beta Stock

PEFINDO Beta Stock report was created for the purpose of providing additional information to capital
market participants. For investors who use fundamental approach, PEFINDO Beta Stock report can be
used as one of the source in calculating the fair value of stocks according to the definitions of Capital
Asset Pricing Model (CAPM). For those who use technical approach, information on the PEFINDO
Beta Stock report may provide additional information of stocks’ systematic risk compared with the
Jakarta Composite Index (JCI).

The value of Beta in the PEFINDO Beta Stock report is determined by the following criterias and
methodologies:
1. The stock has been listed and traded on the Indonesia Stock Exchange for at least 36 months.
2. The stock is not being suspended for the last 10 days.
3. The value of Raw Beta is not negative.
4. The value of Adjusted Beta is not greater than 3.
5. The interval observation is based the time series data over the last 3 years with a rolling return
over the last 4 weeks on each Wednesday.
6. Steps on calculating the PEFINDO Beta Stock :
1. First is to calculate the rate of return on each stock and the market index every
Wednesday, with 4 weeks of intervals. The formula for computing the rate of return is:

Where:
Rit = return of stock i or market index at t period.
Pit = stock price of i or market index at t period.
Pit-1 = stock price of i or market index at t-1 period.
2. Perform a regression between stock price returns and market index returns for the period
of 3 years, to measure the value of Raw Beta with the formula as follows:

Where:
β_i is a Raw Beta for stock i.
Rit is a return of stock i at period t.
R_mt is a return of market index at period t.
α_i is constanta.
e_it is residual reggresion that expected to be white noise (mean of error is zero).

3. Calculate the Adjusted Beta to normalize the Raw Beta, in order to obtain a good
characteristic of beta, which is closer to 1. The formula is as follows:

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 DISCLAIMER

The PEFINDO Beta Saham report issued by PEFINDO is not a recommendation to buy, sell or hold a
particular stock, and cannot be considered as an investment advice of PEFINDO. Investors should
obtain other comprehensive and adequate information to make investment decisions.

PEFINDO is not responsible for any errors or omissions arising from the use of this PEFINDO Beta
Saham report. This report is not intended for particular investor and cannot be used as part of
investment objective on particular shares and neither an investment recommendation on a particular
stock and / or an investment strategy. Before taking action on the results of this report, investors are
advised to first consider the suitable situation and condition. If needed, ask for help from a financial
advisor.

The entire process of calculating PEFINDO Beta Saham is free from human intervention and influence
and / or coercion from other parties. The entire calculation process of PEFINDO Beta Saham is done
through a computer application that automatically calculates the value of stocks’ beta, based on the
stock transaction data submitted by Indonesia Stock Exchange.

PEFINDO Beta Saham report is published on our website (www.pefindo.com).

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