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Jasa Adhimulya, Head of Research M. Adityo Nugroho, Equity Analyst
Banking, Economist Retail, FMCG

A. Zamzami Nasr, Equity Analyst Dwi Prisetyowati, Equity Analyst

Cement, Precast Property

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 JCI Indication

Index & Commodities Last % Change

Bearish DJIA

S&P 500
25,053

2,728
2.13

2.06

Support / Resistance: 5,630 - 5,783 NIKKEI 22,590 3.89

MSCI Indonesia 6,258 2.67

Market Drivers: EIDO 21.10 0.24

WTI Crude ($/bbl) 70.97 3.00

2nd day of Market Rout
 Worries about the economic impact of a Sino-U.S. trade war Brent ($/bbl) 83.09 3.33

 So far this week Chinese and U.S. shares are among the Gold ($/troy ounce) 1,228 2.90

worst performers Coal ($/ton) – Jan’19 107.65 1.55

 Overly ambitious tech valuations CPO (MYR/ton) Jan’19 2,233 1.15

 A spike in U.S. bond yields this week Nickel ($/ton) – Jan’19 12,680 0.05
 Fears that rising borrowing costs could slow down the
economy.
 Caution ahead of 3Q18 earnings seasons
 Expectations are high
 S&P 500 earnings is expected to grow 19%

Investors loaded up on traditional safe havens

 U.S. gold futures added 2.9% at $1,228 an ounce
 Market News

KINO PT Kino Indonesia Tbk

KINO
Close: 1,740 KINO will buy all shares owned by Morinaga & Co. Ltd. at PT Morinaga Kino
Indonesia (MKI), the acquisition transaction value of IDR 74.90 bn. This
P/E: 17.40 P/BV: 1.20
transaction is targeted to be completed next year.
ANTM PT Aneka Tambang Tbk
INDY
Close 785 ANTM has signed the) Head of Agreement project of East Halmahera Blast
Furnace nickel pig iron (NPI) with Ocean Energy Nickel International Pte Ltd
P/E: 27.07 P/BV: 1.00
(OENI). The project is worth around to USD 320 million
PPRE PT PP Presisi Tbk
PPRE
Close: 368 PPRE has diversified its business into the mining services sector. In this year PPRE
has obtained 4 coal hauling, toll and overburden removal contracts with a total of
P/E: 12.69 P/BV: 1.48 IDR 4 Trillion.
JSMR PT Jasa Marga (Persero) Tbk
JSMR
Close: 4,310 JSMR obtained two sources fund from Mandiri Group to issue close-end mutual
P/E: 14.97 P/BV: 1.62 fund (RDPT) with Allianz, AIA, Taspen and Wana Artha Life; The total value of
contract was USD 224 mn. JSMR will also issue Infrastructure investment trust
(KIK-DINFRA) with total value of USD 112 mn.
 Foreign Flow Analysis in Equity (YTD)
October 11, 2018: Net SELL (RG) IDR 1.07 tn
Total YTD: Net SELL IDR 49.27 tn

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 What’s next for JCI?
Previous scenarios

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 What’s next for JCI?

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