PEFINDO BETA STOCK

Edition: 03-February-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

1. AALI Astra Agro Lestari Tbk. 1.656 1.438
2. ABBA Mahaka Media Tbk. 0.621 0.747
3. ABDA Asuransi Bina Dana Arta Tbk. 0.350 0.567
4. ABMM ABM Investama Tbk. 0.244 0.496
5. ACES Ace Hardware Indonesia Tbk. 0.776 0.850
6. ACST Acset Indonusa Tbk. 2.580 2.053
7. ADES Akasha Wira International Tbk. 0.854 0.903
8. ADHI Adhi Karya (Persero) Tbk. 2.622 2.081
9. ADMF Adira Dinamika Multi Finance Tbk. 0.774 0.849
10. ADMG Polychem Indonesia Tbk. 1.434 1.289
11. ADRO Adaro Energy Tbk. 1.138 1.092
12. AGII Aneka Gas Industri Tbk. 1.437 1.292
13. AGRO Bank Rakyat Indonesia Agroniaga Tbk. 2.886 2.257
14. AGRS Bank Agris Tbk. 0.602 0.735
15. AHAP Asuransi Harta Aman Pratama Tbk. 0.097 0.398
16. AIMS Akbar Indo Makmur Stimec Tbk. 0.255 0.503
17. AISA Tiga Pilar Sejahtera Food Tbk. 0.483 0.656
18. AKPI Argha Karya Prima Industry Tbk. 1.005 1.003
19. AKRA AKR Corporindo Tbk. 1.399 1.266
20. AKSI Majapahit Inti Corpora Tbk. 1.512 1.342
21. ALKA Alakasa Industrindo Tbk. 0.052 0.368
22. ALMI Alumindo Light Metal Industry Tbk. 0.874 0.916
23. AMAG Asuransi Multi Artha Guna Tbk. 0.049 0.366
24. AMFG Asahimas Flat Glass Tbk. 0.596 0.731
25. AMIN Ateliers Mecaniques D Indonesie Tbk. 0.332 0.554
26. AMRT Sumber Alfaria Trijaya Tbk. 0.442 0.628
27. ANDI Andira Agro Tbk. 0.048 0.365
28. ANJT Austindo Nusantara Jaya Tbk. 0.802 0.868
29. ANTM Aneka Tambang (Persero) Tbk. 1.964 1.643
30. APEX Apexindo Pratama Duta Tbk. 1.274 1.183
31. APIC Pacific Strategic Financial Tbk. 0.145 0.430
32. APII Arita Prima Indonesia Tbk. 0.002 0.335
33. APLI Asiaplast Industries Tbk. 0.753 0.836
34. APLN Agung Podomoro Land Tbk. 1.916 1.610
35. ARGO Argo Pantes Tbk. 0.539 0.693
36. ARII Atlas Resources Tbk. 0.234 0.490
37. ARMY Armidian Karyatama Tbk. 0.120 0.414
38. ARNA Arwana Citramulia Tbk. 0.724 0.816
39. ARTA Arthavest Tbk. 0.480 0.653
40. ASBI Asuransi Bintang Tbk. 0.008 0.339

Page 1 of 16
 PEFINDO BETA STOCK
Edition: 03-February-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

41. ASDM Asuransi Dayin Mitra Tbk. 0.130 0.420
42. ASGR Astra Graphia Tbk. 0.726 0.817
43. ASII Astra International Tbk. 1.499 1.333
44. ASJT Asuransi Jasa Tania Tbk. 0.990 0.993
45. ASMI Asuransi Mitra Maparya Tbk. 0.416 0.611
46. ASRI Alam Sutera Realty Tbk. 1.862 1.575
47. ASRM Asuransi Ramayana Tbk. 0.229 0.486
48. ASSA Adi Sarana Armada Tbk. 1.567 1.378
49. ATIC Anabatic Technologies Tbk. 0.204 0.469
50. AUTO Astra Otoparts Tbk. 1.271 1.180
51. BABP Bank MNC Internasional Tbk. 0.556 0.704
52. BAJA Saranacentral Bajatama Tbk. 0.491 0.660
53. BALI Bali Towerindo Sentra Tbk. 0.333 0.556
54. BAPA Bekasi Asri Pemula Tbk. 0.178 0.452
55. BATA Sepatu Bata Tbk. 0.022 0.348
56. BBCA Bank Central Asia Tbk. 0.957 0.971
57. BBHI Bank Harda Internasional Tbk. 2.652 2.101
58. BBKP Bank Bukopin Tbk. 2.399 1.933
59. BBLD Buana Finance Tbk. 0.049 0.366
60. BBMD Bank Mestika Dharma Tbk. 0.888 0.926
61. BBNI Bank Negara Indonesia (Persero) Tbk. 1.961 1.641
62. BBRI Bank Rakyat Indonesia (Persero) Tbk. 1.617 1.412
63. BBTN Bank Tabungan Negara (Persero) Tbk. 2.101 1.734
64. BBYB Bank Yudha Bhakti Tbk. 0.792 0.861
65. BCAP MNC Kapital Indonesia Tbk. 0.272 0.514
66. BCIC Bank JTrust Indonesia Tbk. 0.084 0.389
67. BCIP Bumi Citra Permai Tbk. 0.388 0.592
68. BDMN Bank Danamon Indonesia Tbk. 1.818 1.545
69. BEEF Estika Tata Tiara Tbk. 1.200 1.133
70. BEKS Bank Pundi Indonesia Tbk. 0.012 0.341
71. BEST Bekasi Fajar Industrial Estate Tbk. 1.195 1.130
72. BFIN BFI Finance Indonesia Tbk. 1.427 1.285
73. BGTG Bank Ganesha Tbk. 1.057 1.038
74. BHIT MNC Investama Tbk. 0.788 0.859
75. BIKA Binakarya Jaya Abadi Tbk. 0.425 0.617
76. BIMA Primarindo Asia Infrastructure Tbk. 0.195 0.463
77. BINA Bank Ina Perdana Tbk. 0.006 0.337
78. BIPI Benakat Petroleum Energy Tbk. 0.023 0.349
79. BIPP Bhuwanatala Indah Permai Tbk. 0.089 0.393
80. BIRD Blue Bird Tbk. 1.855 1.570

Page 2 of 16
 PEFINDO BETA STOCK
Edition: 03-February-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

81. BISI BISI International Tbk. 1.006 1.004
82. BJBR Bank Pembangunan Daerah Jawa Barat dan Bante 1.393 1.262
83. BJTM Bank Pembangunan Daerah Jawa Timur Tbk. 1.170 1.113
84. BKDP Bukit Darmo Property Tbk. 0.159 0.439
85. BKSL Sentul City Tbk. 0.331 0.554
86. BKSW Bank QNB Indonesia Tbk. 0.866 0.911
87. BLTA Berlian Laju Tanker Tbk. 0.098 0.398
88. BLTZ Graha Layar Prima Tbk. 0.001 0.334
89. BMAS Bank Maspion Indonesia Tbk. 0.723 0.815
90. BMRI Bank Mandiri (Persero) Tbk. 1.574 1.383
91. BMSR Bintang Mitra Semestaraya Tbk. 0.638 0.759
92. BMTR Global Mediacom Tbk. 1.606 1.404
93. BNBA Bank Bumi Arta Tbk. 1.647 1.431
94. BNBR Bakrie & Brothers Tbk. 0.009 0.339
95. BNGA Bank CIMB Niaga Tbk. 1.215 1.143
96. BNII Bank Maybank Indonesia Tbk. 1.356 1.238
97. BNLI Bank Permata Tbk. 0.832 0.888
98. BOLT Garuda Metalindo Tbk. 0.736 0.824
99. BOSS Borneo Olah Sarana Sukses Tbk. 1.798 1.532
100. BPFI Batavia Prosperindo Finance Tbk. 0.305 0.537
101. BRAM Indo Kordsa Tbk. 0.800 0.866
102. BRIS Bank BRIsyariah Tbk. 2.331 1.887
103. BRMS Bumi Resources Minerals Tbk. 0.243 0.495
104. BRNA Berlina Tbk. 0.055 0.370
105. BRPT Barito Pacific Tbk. 1.654 1.436
106. BSDE Bumi Serpong Damai Tbk. 1.500 1.334
107. BSIM Bank Sinarmas Tbk. 0.302 0.535
108. BSSR Baramulti Suksessarana Tbk. 0.324 0.549
109. BTEK Bumi Teknokultura Unggul Tbk. 0.070 0.380
110. BTEL Bakrie Telecom Tbk. 0.000 0.333
111. BTON Betonjaya Manunggal Tbk. 1.121 1.081
112. BTPN Bank Tabungan Pensiunan Nasional Tbk. 1.163 1.109
113. BTPS Bank Tabungan Pensiunan Nasional Syariah Tbk. 1.642 1.428
114. BUDI Budi Starch & Sweetener Tbk. 0.298 0.532
115. BUKK Bukaka Teknik Utama Tbk. 0.295 0.530
116. BULL Buana Listya Tama Tbk. 0.469 0.646
117. BUMI Bumi Resources Tbk. 0.998 0.999
118. BUVA Bukit Uluwatu Villa Tbk. 0.335 0.557
119. BVIC Bank Victoria International Tbk. 0.747 0.831
120. BWPT Eagle High Plantations Tbk. 1.890 1.593

Page 3 of 16
 PEFINDO BETA STOCK
Edition: 03-February-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

121. BYAN Bayan Resources Tbk. 0.616 0.744
122. CAKK Cahayaputra Asa Keramik Tbk. 0.336 0.558
123. CAMP Campina Ice Cream Industry Tbk. 1.105 1.070
124. CARS Industri dan Perdagangan Bintraco Dharma Tbk. 0.772 0.848
125. CASS Cardig Aero Services Tbk. 0.184 0.456
126. CEKA Wilmar Cahaya Indonesia Tbk. 0.775 0.850
127. CENT Centrin Online Tbk. 1.269 1.180
128. CFIN Clipan Finance Indonesia Tbk. 0.866 0.911
129. CINT Chitose Internasional Tbk. 0.330 0.553
130. CITA Cita Mineral Investindo Tbk. 0.456 0.638
131. CITY Natura City Developments Tbk. 0.608 0.739
132. CLAY Citra Putra Realty Tbk. 0.122 0.415
133. CLEO Sariguna Primatirta Tbk. 0.671 0.781
134. CLPI Colorpak Indonesia Tbk. 0.914 0.943
135. CMNP Citra Marga Nusaphala Persada Tbk. 0.337 0.558
136. CMPP Rimau Multi Putra Pratama Tbk. 0.117 0.411
137. CNKO Exploitasi Energi Indonesia Tbk. 0.000 0.334
138. CNTX Century Textile Industry Tbk. 0.274 0.516
139. COWL Cowell Development Tbk. 0.217 0.478
140. CPIN Charoen Pokphand Indonesia Tbk. 1.191 1.128
141. CPRO Central Proteinaprima Tbk. 0.031 0.354
142. CSAP Catur Sentosa Adiprana Tbk. 0.497 0.665
143. CSIS Cahayasakti Investindo Sukses Tbk. 0.719 0.813
144. CTBN Citra Tubindo Tbk. 0.475 0.650
145. CTRA Ciputra Development Tbk. 1.771 1.514
146. CTTH Citatah Tbk. 0.193 0.462
147. DEFI Danasupra Erapacific Tbk. 0.094 0.396
148. DEWA Darma Henwa Tbk. 0.050 0.367
149. DGIK Nusa Konstruksi Enjiniring Tbk. 0.222 0.481
150. DIGI Arkadia Digital Media Tbk. 0.105 0.403
151. DILD Intiland Development Tbk. 0.932 0.955
152. DIVA Distribusi Voucher Nusantara Tbk. 1.751 1.501
153. DKFT Central Omega Resources Tbk. 1.615 1.410
154. DLTA Delta Djakarta Tbk. 0.725 0.817
155. DMAS Puradelta Lestari Tbk. 1.595 1.397
156. DOID Delta Dunia Makmur Tbk. 2.283 1.855
157. DPNS Duta Pertiwi Nusantara Tbk. 0.708 0.805
158. DSFI Dharma Samudera Fishing Industries Tbk. 0.721 0.814
159. DSNG Dharma Satya Nusantara Tbk. 0.940 0.960
160. DSSA Dian Swastatika Sentosa Tbk. 0.194 0.463

Page 4 of 16
 PEFINDO BETA STOCK
Edition: 03-February-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

161. DUCK Jaya Bersama Indo Tbk. 1.791 1.527
162. DUTI Duta Pertiwi Tbk. 0.303 0.536
163. DVLA Darya-Varia Laboratoria Tbk. 0.149 0.433
164. DWGL Dwi Guna Laksana Tbk. 0.061 0.374
165. DYAN Dyandra Media International Tbk. 0.590 0.727
166. ECII Electronic City Indonesia Tbk. 0.430 0.620
167. EKAD Ekadharma International Tbk. 0.777 0.852
168. ELSA Elnusa Tbk. 1.859 1.573
169. EMDE Megapolitan Developments Tbk. 0.039 0.359
170. EMTK Elang Mahkota Teknologi Tbk. 0.332 0.555
171. ENRG Energi Mega Persada Tbk. 0.920 0.947
172. EPMT Enseval Putera Megatrading Tbk. 0.156 0.438
173. ERAA Erajaya Swasembada Tbk. 1.931 1.621
174. ERTX Eratex Djaja Tbk. 0.178 0.452
175. ESSA Surya Esa Perkasa Tbk. 1.339 1.226
176. ETWA Eterindo Wahanatama Tbk. 0.467 0.645
177. EXCL XL Axiata Tbk. 1.359 1.239
178. FAST Fast Food Indonesia Tbk. 0.478 0.652
179. FASW Fajar Surya Wisesa Tbk. 0.121 0.414
180. FILM MD Pictures Tbk. 0.918 0.945
181. FIRE Alfa Energi Investama Tbk. 1.589 1.393
182. FISH FKS Multi Agro Tbk. 1.156 1.104
183. FOOD Sentra Food Indonesia Tbk. 0.701 0.800
184. FORU Fortune Indonesia Tbk. 0.794 0.863
185. FPNI Lotte Chemical Titan Tbk. 1.459 1.306
186. FREN Smartfren Telecom Tbk. 1.555 1.370
187. GAMA Gading Development Tbk. 0.019 0.346
188. GDST Gunawan Dianjaya Steel Tbk. 0.841 0.894
189. GDYR Goodyear Indonesia Tbk. 0.582 0.722
190. GEMA Gema Grahasarana Tbk. 0.068 0.379
191. GEMS Golden Energy Mines Tbk. 0.051 0.367
192. GGRM Gudang Garam Tbk. 0.905 0.937
193. GHON Gihon Telekomunikasi Indonesia Tbk. 0.263 0.509
194. GIAA Garuda Indonesia (Persero) Tbk. 1.756 1.504
195. GJTL Gajah Tunggal Tbk. 1.607 1.405
196. GLOB Global Teleshop Tbk. 0.030 0.353
197. GMFI Garuda Maintenance Facility Aero Asia Tbk. 1.497 1.331
198. GMTD Gowa Makassar Tourism Development Tbk. 0.001 0.334
199. GOLD Golden Retailindo Tbk. 0.626 0.751
200. GOOD Garudafood Putra Putri Jaya Tbk. 0.602 0.735

Page 5 of 16
 PEFINDO BETA STOCK
Edition: 03-February-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

201. GPRA Perdana Gapuraprima Tbk. 0.683 0.789
202. GTBO Garda Tujuh Buana Tbk. 0.771 0.848
203. GWSA Greenwood Sejahtera Tbk. 1.473 1.316
204. GZCO Gozco Plantations Tbk. 0.042 0.361
205. HDFA HD Finance Tbk. 0.063 0.375
206. HEAL Medikaloka Hermina Tbk. 0.844 0.896
207. HELI Jaya Trishindo Tbk. 0.003 0.335
208. HERO Hero Supermarket Tbk. 0.210 0.473
209. HEXA Hexindo Adiperkasa Tbk. 0.880 0.920
210. HITS Humpuss Intermoda Transportasi Tbk. 0.296 0.531
211. HKMU HK Metals Utama Tbk. 1.295 1.196
212. HMSP H.M. Sampoerna Tbk. 0.948 0.965
213. HOKI Buyung Poetra Sembada Tbk. 0.815 0.876
214. HRTA Hartadinata Abadi Tbk. 0.510 0.674
215. HRUM Harum Energy Tbk. 0.711 0.807
216. IATA Indonesia Air Transport Tbk. 0.215 0.477
217. IBFN Intan Baruprana Finance Tbk. 1.061 1.041
218. ICBP Indofood CBP Sukses Makmur Tbk. 0.420 0.613
219. ICON Island Concepts Indonesia Tbk. 0.465 0.643
220. IDPR Indonesia Pondasi Raya Tbk. 1.266 1.177
221. IGAR Champion Pacific Indonesia Tbk. 0.773 0.849
222. IIKP Inti Agri Resources Tbk. 0.310 0.540
223. IKAI Intikeramik Alamasri Industri Tbk. 0.045 0.364
224. IKBI Sumi Indo Kabel Tbk. 0.582 0.721
225. IMAS Indomobil Sukses Internasional Tbk. 2.264 1.842
226. IMJS Indomobil Multi Jasa Tbk. 1.798 1.532
227. IMPC Impack Pratama Industri Tbk. 0.214 0.476
228. INAF Indofarma Tbk. 0.601 0.734
229. INAI Indal Aluminium Industry Tbk. 0.287 0.525
230. INCF Amstelco Indonesia Tbk 1.038 1.025
231. INCI Intanwijaya Internasional Tbk. 0.664 0.776
232. INCO Vale Indonesia Tbk. 1.485 1.323
233. INDF Indofood Sukses Makmur Tbk. 0.619 0.746
234. INDR Indo-Rama Synthetics Tbk. 1.260 1.173
235. INDS Indospring Tbk. 0.627 0.751
236. INDY Indika Energy Tbk. 2.108 1.739
237. INKP Indah Kiat Pulp & Paper Tbk. 1.955 1.637
238. INPC Bank Artha Graha Internasional Tbk. 0.929 0.952
239. INPP Indonesian Paradise Property Tbk. 0.427 0.618
240. INPS Indah Prakasa Sentosa Tbk. 0.999 0.999

Page 6 of 16
 PEFINDO BETA STOCK
Edition: 03-February-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

241. INTA Intraco Penta Tbk. 0.668 0.779
242. INTP Indocement Tunggal Prakasa Tbk. 1.209 1.139
243. IPCC Indonesia Kendaraan Terminal Tbk. 1.653 1.435
244. IPCM Jasa Armada Indonesia Tbk. 1.495 1.330
245. IPOL Indopoly Swakarsa Industry Tbk. 0.987 0.991
246. ISAT Indosat Tbk. 2.062 1.708
247. ISSP Steel Pipe Industry of Indonesia Tbk. 1.121 1.081
248. ITMA Sumber Energi Andalan Tbk. 1.167 1.111
249. ITMG Indo Tambangraya Megah Tbk. 1.642 1.428
250. JAWA Jaya Agra Wattie Tbk. 0.359 0.573
251. JGLE Graha Andrasentra Propertindo Tbk. 0.033 0.355
252. JIHD Jakarta International Hotels & Development Tbk. 0.157 0.438
253. JKON Jaya Konstruksi Manggala Pratama Tbk. 0.030 0.353
254. JMAS Asuransi Jiwa Syariah Jasa Mitra Abadi Tbk. 0.868 0.912
255. JPFA Japfa Comfeed Indonesia Tbk. 1.415 1.277
256. JRPT Jaya Real Property Tbk. 0.889 0.926
257. JSKY Sky Energy Indonesia Tbk. 0.073 0.382
258. JSMR Jasa Marga (Persero) Tbk. 1.381 1.254
259. JSPT Jakarta Setiabudi Internasional Tbk. 0.032 0.355
260. JTPE Jasuindo Tiga Perkasa Tbk. 0.323 0.549
261. KAEF Kimia Farma Tbk. 0.365 0.576
262. KARW ICTSI Jasa Prima Tbk. 0.021 0.348
263. KBLI KMI Wire & Cable Tbk. 0.691 0.794
264. KBLM Kabelindo Murni Tbk. 0.154 0.436
265. KBRI Kertas Basuki Rachmat Indonesia Tbk. 0.007 0.338
266. KDSI Kedawung Setia Industrial Tbk. 1.037 1.025
267. KIAS Keramika Indonesia Assosiasi Tbk. 0.236 0.490
268. KIJA Kawasan Industri Jababeka Tbk. 0.961 0.974
269. KINO Kino Indonesia Tbk. 0.763 0.842
270. KIOS Kioson Komersial Indonesia Tbk. 0.965 0.977
271. KKGI Resource Alam Indonesia Tbk. 1.288 1.192
272. KLBF Kalbe Farma Tbk. 0.874 0.916
273. KMTR Kirana Megatara Tbk. 1.040 1.027
274. KOBX Kobexindo Tractors Tbk. 0.856 0.904
275. KOIN Kokoh Inti Arebama Tbk. 0.661 0.774
276. KOPI Mitra Energi Persada Tbk. 0.161 0.441
277. KPAL Steadfast Marine Tbk. 1.067 1.045
278. KPAS Cottonindo Ariesta Tbk. 0.409 0.606
279. KPIG MNC Land Tbk. 0.175 0.450
280. KRAH Grand Kartech Tbk. 1.185 1.123

Page 7 of 16
 PEFINDO BETA STOCK
Edition: 03-February-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

281. KRAS Krakatau Steel (Persero) Tbk. 2.111 1.741
282. KREN Kresna Graha Sekurindo Tbk. 0.715 0.810
283. LAND Trimitra Propertindo Tbk. 0.724 0.816
284. LCGP Laguna Cipta Griya Tbk. 0.010 0.340
285. LCKM LCK Global Kedaton Tbk. 0.082 0.388
286. LEAD Logindo Samudramakmur Tbk. 0.104 0.403
287. LINK Link Net Tbk. 0.710 0.806
288. LION Lion Metal Works Tbk. 0.817 0.878
289. LMAS Limas Centric Indonesia Tbk. 1.443 1.295
290. LMPI Langgeng Makmur Industri Tbk. 0.153 0.435
291. LPCK Lippo Cikarang Tbk. 1.983 1.656
292. LPIN Multi Prima Sejahtera Tbk. 0.987 0.991
293. LPKR Lippo Karawaci Tbk. 1.584 1.390
294. LPLI Star Pacific Tbk. 0.033 0.355
295. LPPF Matahari Department Store Tbk. 1.614 1.409
296. LPPS Lippo Securities Tbk. 0.253 0.502
297. LRNA Eka Sari Lorena Transport Tbk. 0.477 0.651
298. LSIP PP London Sumatra Indonesia Tbk. 1.356 1.237
299. LTLS Lautan Luas Tbk. 0.622 0.748
300. MABA Marga Abhinaya Abadi Tbk. 0.074 0.382
301. MAGP Multi Agro Gemilang Plantation Tbk. 0.006 0.337
302. MAIN Malindo Feedmill Tbk. 1.749 1.499
303. MAPA Map Aktif Adiperkasa Tbk. 1.492 1.328
304. MAPB MAP Boga Adiperkasa Tbk. 0.465 0.643
305. MAPI Mitra Adiperkasa Tbk. 1.572 1.382
306. MARI Mahaka Radio Integra Tbk. 0.429 0.619
307. MARK Mark Dynamics Indonesia Tbk. 1.074 1.049
308. MASA Multistrada Arah Sarana Tbk. 0.779 0.853
309. MAYA Bank Mayapada Internasional Tbk. 0.736 0.824
310. MBAP Mitrabara Adiperdana Tbk. 0.984 0.989
311. MBSS Mitrabahtera Segara Sejati Tbk. 1.259 1.173
312. MBTO Martina Berto Tbk. 0.346 0.564
313. MCAS M Cash Integrasi Tbk. 1.790 1.527
314. MCOR Bank Windu Kentjana International Tbk. 1.260 1.173
315. MDIA Intermedia Capital Tbk. 0.222 0.481
316. MDKA Merdeka Copper Gold Tbk. 0.857 0.905
317. MDKI Emdeki Utama Tbk. 0.566 0.711
318. MDLN Modernland Realty Ltd. Tbk. 1.255 1.170
319. MEDC Medco Energi International Tbk. 1.787 1.525
320. MEGA Bank Mega Tbk. 0.185 0.457

Page 8 of 16
 PEFINDO BETA STOCK
Edition: 03-February-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

321. MERK Merck Tbk. 1.187 1.124
322. META Nusantara Infrastructure Tbk. 1.149 1.099
323. MFIN Mandala Multifinance Tbk. 0.362 0.575
324. MFMI Multifiling Mitra Indonesia Tbk. 0.691 0.794
325. MGNA Magna Finance Tbk. 0.000 0.333
326. MGRO Mahkota Group Tbk. 0.645 0.764
327. MICE Multi Indocitra Tbk. 0.129 0.420
328. MIDI Midi Utama Indonesia Tbk. 0.183 0.455
329. MIKA Mitra Keluarga Karyasehat Tbk. 0.525 0.683
330. MINA Sanurhasta Mitra Tbk. 0.164 0.443
331. MITI Mitra Investindo Tbk. 0.202 0.468
332. MKNT Mitra Komunikasi Nusantara Tbk. 0.096 0.398
333. MKPI Metropolitan Kentjana Tbk. 0.058 0.372
334. MLBI Multi Bintang Indonesia Tbk. 0.734 0.823
335. MLIA Mulia Industrindo Tbk. 0.576 0.718
336. MLPL Multipolar Tbk. 0.674 0.783
337. MLPT Multipolar Technology Tbk. 1.096 1.064
338. MMLP Mega Manunggal Property Tbk. 0.381 0.588
339. MNCN Media Nusantara Citra Tbk. 1.464 1.310
340. MPMX Mitra Pinasthika Mustika Tbk. 0.695 0.797
341. MPOW Megapower Makmur Tbk. 0.329 0.553
342. MPPA Matahari Putra Prima Tbk. 0.351 0.567
343. MPRO Propertindo Mulia Investama Tbk. 0.967 0.978
344. MRAT Mustika Ratu Tbk. 0.487 0.658
345. MSIN MNC Studios International Tbk. 0.548 0.699
346. MSKY MNC Sky Vision Tbk. 0.081 0.388
347. MTDL Metrodata Electronics Tbk. 1.144 1.096
348. MTLA Metropolitan Land Tbk. 0.522 0.682
349. MTRA Mitra Pemuda Tbk. 0.038 0.358
350. MTWI Malacca Trust Wuwungan Insurance Tbk. 0.389 0.593
351. MYOH Samindo Resources Tbk. 0.509 0.673
352. MYOR Mayora Indah Tbk. 0.565 0.710
353. MYRX Hanson International Tbk. 0.048 0.365
354. NASA Ayana Land International Tbk. 0.085 0.390
355. NFCX NFC Indonesia Tbk. 0.433 0.622
356. NIKL Pelat Timah Nusantara Tbk. 1.785 1.523
357. NIPS Nipress Tbk. 0.204 0.469
358. NISP Bank OCBC NISP Tbk. 0.283 0.522
359. NOBU Bank Nationalnobu Tbk. 0.031 0.354
360. NRCA Nusa Raya Cipta Tbk. 0.830 0.886

Page 9 of 16
 PEFINDO BETA STOCK
Edition: 03-February-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

361. NUSA Sinergi Megah Internusa Tbk. 0.171 0.447
362. OASA Protech Mitra Perkasa Tbk. 0.453 0.635
363. OKAS Ancora Indonesia Resources Tbk. 0.609 0.739
364. OMRE Indonesia Prima Property Tbk. 0.568 0.712
365. PADI Minna Padi Investama Tbk. 0.344 0.563
366. PALM Provident Agro Tbk. 0.486 0.658
367. PANI Pratama Abadi Nusa Industri Tbk. 2.191 1.794
368. PANR Panorama Sentrawisata Tbk. 2.685 2.123
369. PANS Panin Sekuritas Tbk. 1.299 1.200
370. PBID Panca Budi Idaman Tbk. 0.650 0.767
371. PBRX Pan Brothers Tbk. 0.871 0.914
372. PBSA Paramita Bangun Sarana Tbk. 0.663 0.775
373. PCAR Prima Cakrawala Abadi Tbk. 0.767 0.845
374. PDES Destinasi Tirta Nusantara Tbk. 1.536 1.357
375. PEGE Panca Global Securities Tbk. 0.057 0.371
376. PEHA Phapros Tbk. 0.989 0.993
377. PGAS PT Perusahaan Gas Negara Tbk. 2.269 1.846
378. PGLI Pembangunan Graha Lestari Indah Tbk. 0.051 0.367
379. PICO Pelangi Indah Canindo Tbk. 0.775 0.850
380. PJAA Pembangunan Jaya Ancol Tbk. 1.325 1.217
381. PKPK Perdana Karya Perkasa Tbk. 0.448 0.632
382. PLIN Plaza Indonesia Realty Tbk. 0.188 0.459
383. PNBN Bank Pan Indonesia Tbk. 1.529 1.353
384. PNBS Bank Panin Syariah Tbk. 0.296 0.530
385. PNIN Panin Insurance Tbk. 1.039 1.026
386. PNLF Panin Financial Tbk. 1.292 1.195
387. POLA Pool Advista Finance Tbk. 1.828 1.552
388. POLI Pollux Investasi Internasional Tbk. 0.211 0.474
389. POLY Asia Pacific Fibers Tbk. 0.421 0.614
390. POOL Pool Advista Indonesia Tbk. 0.231 0.487
391. PORT Nusantara Pelabuhan Handal Tbk. 0.155 0.436
392. POWR Cikarang Listrindo Tbk. 0.916 0.944
393. PPRE PP Presisi Tbk. 1.882 1.588
394. PPRO PP Properti Tbk. 1.163 1.109
395. PRAS Prima Alloy Steel Universal Tbk. 0.051 0.367
396. PRDA Prodia Widyahusada Tbk. 0.385 0.590
397. PRIM Royal Prima Tbk. 0.413 0.609
398. PSAB J Resources Asia Pasifik Tbk. 0.803 0.869
399. PSDN Prasidha Aneka Niaga Tbk. 0.361 0.574
400. PSKT Pusako Tarinka Tbk. 0.019 0.346

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 PEFINDO BETA STOCK
Edition: 03-February-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

401. PSSI Pelita Samudera Shipping Tbk. 0.604 0.736
402. PTBA Tambang Batubara Bukit Asam (Persero) Tbk. 1.168 1.112
403. PTIS Indo Straits Tbk. 0.836 0.891
404. PTPP PP (Persero) Tbk. 2.605 2.070
405. PTRO Petrosea Tbk. 1.170 1.113
406. PTSN Sat Nusapersada Tbk. 1.319 1.213
407. PTSP Pioneerindo Gourmet International Tbk. 0.038 0.359
408. PUDP Pudjiadi Prestige Tbk. 0.857 0.905
409. PWON Pakuwon Jati Tbk. 1.641 1.427
410. PYFA Pyridam Farma Tbk. 0.849 0.900
411. PZZA Sarimelati Kencana Tbk. 1.299 1.200
412. RAJA Rukun Raharja Tbk. 1.591 1.394
413. RALS Ramayana Lestari Sentosa Tbk. 1.611 1.407
414. RANC Supra Boga Lestari Tbk. 0.511 0.674
415. RBMS Ristia Bintang Mahkotasejati Tbk. 0.376 0.584
416. RDTX Roda Vivatex Tbk. 0.188 0.459
417. RICY Ricky Putra Globalindo Tbk. 0.038 0.359
418. RIGS Rig Tenders Indonesia Tbk. 0.574 0.716
419. RIMO Rimo International Lestari Tbk. 0.044 0.362
420. RISE Jaya Sukses Makmur Sentosa Tbk. 0.088 0.392
421. RMBA Bentoel Internasional Investama Tbk. 0.185 0.457
422. RODA Pikko Land Development Tbk. 0.341 0.561
423. ROTI Nippon Indosari Corpindo Tbk. 0.256 0.504
424. RUIS Radiant Utama Interinsco Tbk. 0.592 0.728
425. SAFE Steady Safe Tbk. 0.183 0.456
426. SAME Sarana Meditama Metropolitan Tbk. 0.679 0.786
427. SAPX Satria Antaran Prima Tbk. 0.127 0.418
428. SATU Kota Satu Properti Tbk. 0.377 0.585
429. SCCO Supreme Cable Manufacturing & Commerce Tbk. 0.091 0.394
430. SCMA Surya Citra Media Tbk. 1.588 1.392
431. SDMU Sidomulyo Selaras Tbk. 0.116 0.410
432. SDPC Millennium Pharmacon International Tbk. 0.905 0.936
433. SDRA Bank Woori Saudara Indonesia 1906 Tbk. 0.080 0.386
434. SGRO Sampoerna Agro Tbk. 0.254 0.503
435. SHIP Sillo Maritime Perdana Tbk. 0.316 0.544
436. SIDO Industri Jamu dan Farmasi Sido Muncul Tbk. 0.443 0.628
437. SILO Siloam International Hospitals Tbk. 0.387 0.591
438. SIMA Siwani Makmur Tbk. 0.334 0.556
439. SIMP Salim Ivomas Pratama Tbk. 1.452 1.301
440. SIPD Sierad Produce Tbk. 0.287 0.525

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 PEFINDO BETA STOCK
Edition: 03-February-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

441. SKLT Sekar Laut Tbk. 0.175 0.450
442. SKRN Superkrane Mitra Utama Tbk. 0.653 0.768
443. SKYB Skybee Tbk. 0.015 0.344
444. SMAR Smart Tbk. 0.957 0.971
445. SMBR Semen Baturaja (Persero) Tbk. 3.023 2.349
446. SMCB Holcim Indonesia Tbk. 1.130 1.087
447. SMDM Suryamas Dutamakmur Tbk. 0.425 0.617
448. SMDR Samudera Indonesia Tbk. 1.096 1.064
449. SMGR Semen Indonesia (Persero) Tbk. 1.391 1.261
450. SMMA Sinarmas Multiartha Tbk. 0.046 0.364
451. SMMT Golden Eagle Energy Tbk. 0.865 0.910
452. SMRA Summarecon Agung Tbk. 1.786 1.524
453. SMRU SMR Utama Tbk. 0.327 0.551
454. SMSM Selamat Sempurna Tbk. 0.825 0.884
455. SOCI Soechi Lines Tbk. 1.565 1.376
456. SONA Sona Topas Tourism Industry Tbk. 0.146 0.431
457. SOSS Shield On Service Tbk. 0.076 0.384
458. SPMA Suparma Tbk. 0.411 0.607
459. SPTO Surya Pertiwi Tbk. 0.890 0.927
460. SQMI Renuka Coalindo Tbk. 0.893 0.928
461. SRAJ Sejahteraraya Anugrahjaya Tbk. 0.471 0.647
462. SRIL Sri Rejeki Isman Tbk. 1.302 1.201
463. SRSN Indo Acidatama Tbk. 0.184 0.456
464. SRTG Saratoga Investama Sedaya Tbk. 0.539 0.693
465. SSIA Surya Semesta Internusa Tbk. 1.070 1.046
466. SSMS Sawit Sumbermas Sarana Tbk. 0.116 0.411
467. SSTM Sunson Textile Manufacture Tbk. 0.466 0.644
468. STAR Star Petrochem Tbk. 0.217 0.478
469. SULI SLJ Global Tbk. 0.126 0.417
470. SUPR Solusi Tunas Pratama Tbk. 0.211 0.474
471. SWAT Sriwahana Adityakarta Tbk. 0.647 0.764
472. TBIG Tower Bersama Infrastructure Tbk. 1.012 1.008
473. TBLA Tunas Baru Lampung Tbk. 1.310 1.206
474. TBMS Tembaga Mulia Semanan Tbk. 0.230 0.487
475. TCID Mandom Indonesia Tbk. 0.157 0.438
476. TCPI Transcoal Pacific Tbk. 0.683 0.789
477. TDPM Tridomain Performance Materials Tbk. 0.754 0.836
478. TELE Tiphone Mobile Indonesia Tbk. 1.299 1.199
479. TFCO Tifico Fiber Indonesia Tbk. 0.431 0.621
480. TGRA Terregra Asia Energy Tbk. 1.295 1.196

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 PEFINDO BETA STOCK
Edition: 03-February-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

481. TIFA Tifa Finance Tbk. 0.128 0.419
482. TINS Timah (Persero) Tbk. 2.026 1.684
483. TKIM Pabrik Kertas Tjiwi Kimia Tbk. 2.312 1.875
484. TLKM Telekomunikasi Indonesia (Persero) Tbk. 0.919 0.946
485. TMAS Pelayaran Tempuran Emas Tbk. 0.430 0.620
486. TMPO Tempo Intimedia Tbk. 0.195 0.463
487. TNCA Trimuda Nuansa Citra Tbk. 0.589 0.726
488. TOBA Toba Bara Sejahtra Tbk. 0.216 0.477
489. TOPS Totalindo Eka Persada Tbk. 0.499 0.666
490. TOTL Total Bangun Persada Tbk. 1.038 1.026
491. TOTO Surya Toto Indonesia Tbk. 0.663 0.775
492. TOWR Sarana Menara Nusantara Tbk. 0.708 0.806
493. TPIA Chandra Asri Petrochemical Tbk. 1.002 1.001
494. TPMA Trans Power Marine Tbk. 0.272 0.515
495. TRAM Trada Maritime Tbk. 0.142 0.428
496. TRIL Triwira Insanlestari Tbk. 0.001 0.334
497. TRIM Trimegah Securities Tbk. 0.272 0.515
498. TRIO Trikomsel Oke Tbk. 1.047 1.031
499. TRST Trias Sentosa Tbk. 0.398 0.599
500. TRUK Guna Timur Raya Tbk. 0.780 0.853
501. TSPC Tempo Scan Pacific Tbk. 0.762 0.841
502. TUGU Asuransi Tugu Pratama Indonesia Tbk. 0.530 0.687
503. TURI Tunas Ridean Tbk. 0.026 0.351
504. ULTJ Ultra Jaya Milk Industry & Trading Company, Tbk. 0.411 0.607
505. UNIC Unggul Indah Cahaya Tbk. 0.684 0.790
506. UNIT Nusantara Inti Corpora Tbk. 0.596 0.730
507. UNSP Bakrie Sumatra Plantations Tbk. 1.253 1.168
508. UNTR United Tractors Tbk. 1.015 1.010
509. UNVR Unilever Indonesia Tbk. 0.555 0.703
510. VIVA Visi Media Asia Tbk. 0.169 0.446
511. VOKS Voksel Electric Tbk. 0.385 0.590
512. VRNA Verena Multi Finance Tbk. 0.072 0.382
513. WEGE Wijaya Karya Bangunan Gedung Tbk. 1.710 1.473
514. WEHA WEHA Transportasi Indonesia Tbk. 1.161 1.107
515. WIIM Wismilak Inti Makmur Tbk. 2.101 1.734
516. WIKA Wijaya Karya (Persero) Tbk. 2.158 1.772
517. WINS Wintermar Offshore Marine Tbk. 0.791 0.861
518. WOMF Wahana Ottomitra Multiartha Tbk. 0.871 0.914
519. WOOD Integra Indocabinet Tbk. 1.060 1.040
520. WSBP Waskita Beton Precast Tbk. 1.880 1.586

Page 13 of 16
 PEFINDO BETA STOCK
Edition: 03-February-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

521. WSKT Waskita Karya (Persero) Tbk. 2.594 2.062
522. WTON Wijaya Karya Beton Tbk. 1.843 1.562
523. YELO Yelooo Integra Datanet Tbk. 0.992 0.995
524. YPAS Yanaprima Hastapersada Tbk. 0.816 0.877
525. YULE Yulie Sekurindo Tbk. 0.742 0.828
526. ZINC Kapuas Prima Coal Tbk. 1.248 1.165
527. ZONE Mega Perintis Tbk. 0.122 0.415

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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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