PEFINDO BETA STOCK

Edition: 30-June-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

1. AALI Astra Agro Lestari Tbk. 1.675 1.450
2. ABBA Mahaka Media Tbk. 0.748 0.832
3. ABDA Asuransi Bina Dana Arta Tbk. 0.281 0.520
4. ABMM ABM Investama Tbk. 0.194 0.463
5. ACES Ace Hardware Indonesia Tbk. 0.747 0.832
6. ACST Acset Indonusa Tbk. 2.521 2.014
7. ADES Akasha Wira International Tbk. 0.713 0.808
8. ADHI Adhi Karya (Persero) Tbk. 2.521 2.014
9. ADMF Adira Dinamika Multi Finance Tbk. 0.793 0.862
10. ADMG Polychem Indonesia Tbk. 1.336 1.224
11. ADRO Adaro Energy Tbk. 1.183 1.122
12. AGII Aneka Gas Industri Tbk. 1.616 1.410
13. AGRO Bank Rakyat Indonesia Agroniaga Tbk. 2.742 2.162
14. AGRS Bank Agris Tbk. 0.578 0.719
15. AHAP Asuransi Harta Aman Pratama Tbk. 0.007 0.338
16. AIMS Akbar Indo Makmur Stimec Tbk. 0.213 0.476
17. AISA Tiga Pilar Sejahtera Food Tbk. 0.530 0.686
18. AKPI Argha Karya Prima Industry Tbk. 1.057 1.038
19. AKRA AKR Corporindo Tbk. 1.326 1.217
20. AKSI Majapahit Inti Corpora Tbk. 1.441 1.294
21. ALKA Alakasa Industrindo Tbk. 0.000 0.334
22. ALMI Alumindo Light Metal Industry Tbk. 0.794 0.862
23. AMAG Asuransi Multi Artha Guna Tbk. 0.076 0.384
24. AMFG Asahimas Flat Glass Tbk. 0.637 0.758
25. AMIN Ateliers Mecaniques D Indonesie Tbk. 0.310 0.540
26. AMRT Sumber Alfaria Trijaya Tbk. 0.586 0.724
27. ANJT Austindo Nusantara Jaya Tbk. 0.796 0.864
28. ANTM Aneka Tambang (Persero) Tbk. 1.922 1.615
29. APEX Apexindo Pratama Duta Tbk. 1.246 1.164
30. APIC Pacific Strategic Financial Tbk. 0.089 0.393
31. APLI Asiaplast Industries Tbk. 0.613 0.742
32. APLN Agung Podomoro Land Tbk. 1.756 1.504
33. ARGO Argo Pantes Tbk. 0.524 0.683
34. ARII Atlas Resources Tbk. 0.221 0.481
35. ARMY Armidian Karyatama Tbk. 0.121 0.414
36. ARNA Arwana Citramulia Tbk. 0.745 0.830
37. ARTA Arthavest Tbk. 0.281 0.520
38. ASBI Asuransi Bintang Tbk. 0.006 0.337
39. ASDM Asuransi Dayin Mitra Tbk. 0.152 0.435
40. ASGR Astra Graphia Tbk. 0.791 0.861

Page 1 of 16
 PEFINDO BETA STOCK
Edition: 30-June-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

41. ASII Astra International Tbk. 1.497 1.331
42. ASJT Asuransi Jasa Tania Tbk. 0.847 0.898
43. ASMI Asuransi Mitra Maparya Tbk. 0.514 0.676
44. ASRI Alam Sutera Realty Tbk. 1.874 1.583
45. ASRM Asuransi Ramayana Tbk. 0.181 0.454
46. ASSA Adi Sarana Armada Tbk. 1.576 1.384
47. ATIC Anabatic Technologies Tbk. 0.201 0.467
48. AUTO Astra Otoparts Tbk. 1.284 1.189
49. BABP Bank MNC Internasional Tbk. 0.608 0.738
50. BAJA Saranacentral Bajatama Tbk. 0.501 0.667
51. BALI Bali Towerindo Sentra Tbk. 0.479 0.652
52. BAPA Bekasi Asri Pemula Tbk. 0.222 0.481
53. BATA Sepatu Bata Tbk. 0.006 0.337
54. BAYU Bayu Buana Tbk. 0.065 0.377
55. BBCA Bank Central Asia Tbk. 0.949 0.966
56. BBHI Bank Harda Internasional Tbk. 2.560 2.040
57. BBKP Bank Bukopin Tbk. 2.283 1.855
58. BBLD Buana Finance Tbk. 0.065 0.377
59. BBMD Bank Mestika Dharma Tbk. 0.911 0.941
60. BBNI Bank Negara Indonesia (Persero) Tbk. 1.934 1.622
61. BBRI Bank Rakyat Indonesia (Persero) Tbk. 1.598 1.399
62. BBTN Bank Tabungan Negara (Persero) Tbk. 2.048 1.698
63. BBYB Bank Yudha Bhakti Tbk. 0.841 0.894
64. BCAP MNC Kapital Indonesia Tbk. 1.064 1.043
65. BCIC Bank JTrust Indonesia Tbk. 0.028 0.352
66. BCIP Bumi Citra Permai Tbk. 0.319 0.546
67. BDMN Bank Danamon Indonesia Tbk. 1.628 1.419
68. BEEF Estika Tata Tiara Tbk. 1.003 1.002
69. BEKS Bank Pundi Indonesia Tbk. 0.018 0.345
70. BEST Bekasi Fajar Industrial Estate Tbk. 1.043 1.029
71. BFIN BFI Finance Indonesia Tbk. 1.429 1.286
72. BGTG Bank Ganesha Tbk. 0.964 0.976
73. BHIT MNC Investama Tbk. 0.772 0.848
74. BIKA Binakarya Jaya Abadi Tbk. 0.483 0.655
75. BIMA Primarindo Asia Infrastructure Tbk. 0.136 0.424
76. BIPI Benakat Petroleum Energy Tbk. 0.376 0.584
77. BIPP Bhuwanatala Indah Permai Tbk. 0.110 0.407
78. BIRD Blue Bird Tbk. 1.917 1.611
79. BISI BISI International Tbk. 1.028 1.019
80. BJBR Bank Pembangunan Daerah Jawa Barat dan Bante 1.304 1.202

Page 2 of 16
 PEFINDO BETA STOCK
Edition: 30-June-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

81. BJTM Bank Pembangunan Daerah Jawa Timur Tbk. 1.128 1.085
82. BKDP Bukit Darmo Property Tbk. 0.123 0.415
83. BKSL Sentul City Tbk. 0.248 0.498
84. BKSW Bank QNB Indonesia Tbk. 0.850 0.900
85. BLTA Berlian Laju Tanker Tbk. 0.105 0.403
86. BLTZ Graha Layar Prima Tbk. 0.073 0.382
87. BMAS Bank Maspion Indonesia Tbk. 0.741 0.827
88. BMRI Bank Mandiri (Persero) Tbk. 1.580 1.387
89. BMSR Bintang Mitra Semestaraya Tbk. 0.890 0.927
90. BMTR Global Mediacom Tbk. 1.641 1.428
91. BNBA Bank Bumi Arta Tbk. 1.583 1.388
92. BNBR Bakrie & Brothers Tbk. 0.012 0.342
93. BNGA Bank CIMB Niaga Tbk. 1.189 1.126
94. BNII Bank Maybank Indonesia Tbk. 1.261 1.174
95. BNLI Bank Permata Tbk. 0.702 0.802
96. BOLA Bali Bintang Sejahtera Tbk. 1.045 1.030
97. BOLT Garuda Metalindo Tbk. 0.680 0.787
98. BOSS Borneo Olah Sarana Sukses Tbk. 1.864 1.576
99. BPFI Batavia Prosperindo Finance Tbk. 0.152 0.435
100. BRAM Indo Kordsa Tbk. 0.567 0.711
101. BRIS Bank BRIsyariah Tbk. 2.245 1.830
102. BRMS Bumi Resources Minerals Tbk. 0.438 0.625
103. BRPT Barito Pacific Tbk. 1.696 1.464
104. BSDE Bumi Serpong Damai Tbk. 1.388 1.259
105. BSIM Bank Sinarmas Tbk. 0.258 0.505
106. BSSR Baramulti Suksessarana Tbk. 0.258 0.505
107. BTEK Bumi Teknokultura Unggul Tbk. 0.021 0.348
108. BTEL Bakrie Telecom Tbk. 0.000 0.333
109. BTON Betonjaya Manunggal Tbk. 0.900 0.933
110. BTPN Bank Tabungan Pensiunan Nasional Tbk. 1.189 1.126
111. BTPS Bank Tabungan Pensiunan Nasional Syariah Tbk. 1.601 1.401
112. BUDI Budi Starch & Sweetener Tbk. 0.282 0.521
113. BUKK Bukaka Teknik Utama Tbk. 0.276 0.517
114. BULL Buana Listya Tama Tbk. 0.461 0.641
115. BUMI Bumi Resources Tbk. 1.021 1.014
116. BUVA Bukit Uluwatu Villa Tbk. 0.372 0.581
117. BVIC Bank Victoria International Tbk. 0.803 0.869
118. BWPT Eagle High Plantations Tbk. 1.909 1.606
119. BYAN Bayan Resources Tbk. 0.633 0.756
120. CAKK Cahayaputra Asa Keramik Tbk. 0.219 0.479

Page 3 of 16
 PEFINDO BETA STOCK
Edition: 30-June-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

121. CAMP Campina Ice Cream Industry Tbk. 1.130 1.087
122. CARS Industri dan Perdagangan Bintraco Dharma Tbk. 0.768 0.845
123. CASA Capital Financial Indonesia Tbk. 0.073 0.382
124. CASS Cardig Aero Services Tbk. 0.105 0.403
125. CCSI Communication Cable Systems Indonesia Tbk. 0.751 0.834
126. CEKA Wilmar Cahaya Indonesia Tbk. 0.663 0.775
127. CENT Centrin Online Tbk. 1.339 1.226
128. CFIN Clipan Finance Indonesia Tbk. 0.876 0.917
129. CINT Chitose Internasional Tbk. 0.313 0.542
130. CITA Cita Mineral Investindo Tbk. 0.425 0.617
131. CITY Natura City Developments Tbk. 0.696 0.797
132. CLAY Citra Putra Realty Tbk. 0.139 0.426
133. CLEO Sariguna Primatirta Tbk. 0.769 0.846
134. CLPI Colorpak Indonesia Tbk. 0.873 0.915
135. CMNP Citra Marga Nusaphala Persada Tbk. 0.359 0.572
136. CMPP Rimau Multi Putra Pratama Tbk. 0.330 0.553
137. CNKO Exploitasi Energi Indonesia Tbk. 0.000 0.334
138. CNTX Century Textile Industry Tbk. 0.267 0.511
139. COWL Cowell Development Tbk. 0.108 0.405
140. CPIN Charoen Pokphand Indonesia Tbk. 0.996 0.997
141. CPRI Capri Nusa Satu Properti Tbk. 0.064 0.376
142. CPRO Central Proteinaprima Tbk. 0.070 0.380
143. CSAP Catur Sentosa Adiprana Tbk. 0.495 0.663
144. CSIS Cahayasakti Investindo Sukses Tbk. 0.567 0.711
145. CTBN Citra Tubindo Tbk. 0.478 0.652
146. CTRA Ciputra Development Tbk. 1.662 1.441
147. CTTH Citatah Tbk. 0.180 0.453
148. DEFI Danasupra Erapacific Tbk. 0.027 0.351
149. DEWA Darma Henwa Tbk. 0.163 0.442
150. DFAM Dafam Property Indonesia Tbk. 0.255 0.503
151. DGIK Nusa Konstruksi Enjiniring Tbk. 0.269 0.512
152. DIGI Arkadia Digital Media Tbk. 0.101 0.401
153. DILD Intiland Development Tbk. 0.867 0.912
154. DIVA Distribusi Voucher Nusantara Tbk. 1.597 1.398
155. DKFT Central Omega Resources Tbk. 1.667 1.445
156. DLTA Delta Djakarta Tbk. 0.733 0.822
157. DMAS Puradelta Lestari Tbk. 1.540 1.360
158. DOID Delta Dunia Makmur Tbk. 2.460 1.973
159. DPNS Duta Pertiwi Nusantara Tbk. 0.710 0.807
160. DSFI Dharma Samudera Fishing Industries Tbk. 0.699 0.800

Page 4 of 16
 PEFINDO BETA STOCK
Edition: 30-June-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

161. DSNG Dharma Satya Nusantara Tbk. 1.019 1.013
162. DSSA Dian Swastatika Sentosa Tbk. 0.141 0.428
163. DUCK Jaya Bersama Indo Tbk. 1.771 1.514
164. DUTI Duta Pertiwi Tbk. 0.200 0.467
165. DVLA Darya-Varia Laboratoria Tbk. 0.223 0.482
166. DYAN Dyandra Media International Tbk. 0.618 0.745
167. ECII Electronic City Indonesia Tbk. 0.386 0.590
168. EKAD Ekadharma International Tbk. 0.764 0.843
169. ELSA Elnusa Tbk. 1.843 1.562
170. EMDE Megapolitan Developments Tbk. 0.059 0.372
171. EMTK Elang Mahkota Teknologi Tbk. 0.521 0.680
172. ENRG Energi Mega Persada Tbk. 0.937 0.958
173. EPMT Enseval Putera Megatrading Tbk. 0.155 0.437
174. ERAA Erajaya Swasembada Tbk. 1.606 1.404
175. ERTX Eratex Djaja Tbk. 0.134 0.423
176. ESSA Surya Esa Perkasa Tbk. 1.510 1.340
177. ESTI Ever Shine Tex Tbk. 0.055 0.370
178. ETWA Eterindo Wahanatama Tbk. 0.403 0.602
179. EXCL XL Axiata Tbk. 1.355 1.237
180. FAST Fast Food Indonesia Tbk. 0.420 0.613
181. FASW Fajar Surya Wisesa Tbk. 0.110 0.406
182. FILM MD Pictures Tbk. 0.975 0.983
183. FIRE Alfa Energi Investama Tbk. 1.939 1.626
184. FISH FKS Multi Agro Tbk. 0.962 0.975
185. FITT Hotel Fitra International Tbk. 1.098 1.065
186. FOOD Sentra Food Indonesia Tbk. 0.597 0.731
187. FORU Fortune Indonesia Tbk. 1.034 1.023
188. FPNI Lotte Chemical Titan Tbk. 1.332 1.221
189. FREN Smartfren Telecom Tbk. 1.549 1.366
190. GAMA Gading Development Tbk. 0.001 0.334
191. GDST Gunawan Dianjaya Steel Tbk. 0.786 0.857
192. GDYR Goodyear Indonesia Tbk. 0.571 0.714
193. GEMA Gema Grahasarana Tbk. 0.071 0.381
194. GEMS Golden Energy Mines Tbk. 0.018 0.345
195. GGRM Gudang Garam Tbk. 0.942 0.962
196. GHON Gihon Telekomunikasi Indonesia Tbk. 0.241 0.494
197. GIAA Garuda Indonesia (Persero) Tbk. 1.747 1.498
198. GJTL Gajah Tunggal Tbk. 1.573 1.382
199. GMFI Garuda Maintenance Facility Aero Asia Tbk. 1.442 1.295
200. GOLD Golden Retailindo Tbk. 0.660 0.773

Page 5 of 16
 PEFINDO BETA STOCK
Edition: 30-June-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

201. GOOD Garudafood Putra Putri Jaya Tbk. 0.557 0.704
202. GPRA Perdana Gapuraprima Tbk. 0.708 0.805
203. GTBO Garda Tujuh Buana Tbk. 0.586 0.724
204. GWSA Greenwood Sejahtera Tbk. 1.477 1.318
205. GZCO Gozco Plantations Tbk. 0.422 0.615
206. HDFA HD Finance Tbk. 0.072 0.381
207. HDTX Panasia Indo Resources Tbk. 0.003 0.335
208. HEAL Medikaloka Hermina Tbk. 0.840 0.893
209. HELI Jaya Trishindo Tbk. 0.072 0.381
210. HERO Hero Supermarket Tbk. 0.203 0.468
211. HEXA Hexindo Adiperkasa Tbk. 0.918 0.945
212. HITS Humpuss Intermoda Transportasi Tbk. 0.474 0.650
213. HKMU HK Metals Utama Tbk. 1.269 1.180
214. HMSP H.M. Sampoerna Tbk. 0.907 0.938
215. HOKI Buyung Poetra Sembada Tbk. 0.883 0.922
216. HRME Menteng Heritage Realty Tbk. 0.219 0.480
217. HRTA Hartadinata Abadi Tbk. 0.513 0.675
218. HRUM Harum Energy Tbk. 0.769 0.846
219. IATA Indonesia Air Transport Tbk. 0.754 0.836
220. IBFN Intan Baruprana Finance Tbk. 1.207 1.138
221. ICBP Indofood CBP Sukses Makmur Tbk. 0.341 0.561
222. ICON Island Concepts Indonesia Tbk. 0.449 0.633
223. IDPR Indonesia Pondasi Raya Tbk. 1.198 1.132
224. IGAR Champion Pacific Indonesia Tbk. 0.740 0.827
225. IIKP Inti Agri Resources Tbk. 0.027 0.351
226. IKBI Sumi Indo Kabel Tbk. 0.553 0.702
227. IMAS Indomobil Sukses Internasional Tbk. 2.268 1.846
228. IMJS Indomobil Multi Jasa Tbk. 1.707 1.472
229. IMPC Impack Pratama Industri Tbk. 0.228 0.486
230. INAF Indofarma Tbk. 0.562 0.708
231. INAI Indal Aluminium Industry Tbk. 0.280 0.520
232. INCF Amstelco Indonesia Tbk 0.737 0.825
233. INCI Intanwijaya Internasional Tbk. 0.657 0.772
234. INCO Vale Indonesia Tbk. 1.491 1.327
235. INDF Indofood Sukses Makmur Tbk. 0.541 0.694
236. INDR Indo-Rama Synthetics Tbk. 1.164 1.110
237. INDS Indospring Tbk. 0.631 0.754
238. INDY Indika Energy Tbk. 2.077 1.718
239. INKP Indah Kiat Pulp & Paper Tbk. 1.734 1.489
240. INPC Bank Artha Graha Internasional Tbk. 0.863 0.909

Page 6 of 16
 PEFINDO BETA STOCK
Edition: 30-June-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

241. INPP Indonesian Paradise Property Tbk. 0.363 0.575
242. INPS Indah Prakasa Sentosa Tbk. 0.701 0.801
243. INTA Intraco Penta Tbk. 0.774 0.850
244. INTP Indocement Tunggal Prakasa Tbk. 1.116 1.078
245. IPCC Indonesia Kendaraan Terminal Tbk. 1.647 1.431
246. IPCM Jasa Armada Indonesia Tbk. 1.349 1.232
247. IPOL Indopoly Swakarsa Industry Tbk. 0.991 0.994
248. ISAT Indosat Tbk. 1.884 1.589
249. ISSP Steel Pipe Industry of Indonesia Tbk. 1.064 1.043
250. ITMA Sumber Energi Andalan Tbk. 1.109 1.072
251. ITMG Indo Tambangraya Megah Tbk. 1.584 1.389
252. JAST Jasnita Telekomindo Tbk. 1.262 1.175
253. JAWA Jaya Agra Wattie Tbk. 0.314 0.543
254. JAYA Armada Berjaya Trans Tbk. 0.907 0.938
255. JGLE Graha Andrasentra Propertindo Tbk. 0.033 0.355
256. JIHD Jakarta International Hotels & Development Tbk. 0.123 0.415
257. JKON Jaya Konstruksi Manggala Pratama Tbk. 0.195 0.463
258. JMAS Asuransi Jiwa Syariah Jasa Mitra Abadi Tbk. 0.890 0.927
259. JPFA Japfa Comfeed Indonesia Tbk. 1.245 1.163
260. JRPT Jaya Real Property Tbk. 0.902 0.934
261. JSMR Jasa Marga (Persero) Tbk. 1.343 1.229
262. JSPT Jakarta Setiabudi Internasional Tbk. 0.038 0.358
263. JTPE Jasuindo Tiga Perkasa Tbk. 0.355 0.570
264. KAEF Kimia Farma Tbk. 0.299 0.533
265. KBLI KMI Wire & Cable Tbk. 0.827 0.885
266. KBLM Kabelindo Murni Tbk. 0.137 0.425
267. KBRI Kertas Basuki Rachmat Indonesia Tbk. 0.007 0.338
268. KDSI Kedawung Setia Industrial Tbk. 1.013 1.009
269. KIAS Keramika Indonesia Assosiasi Tbk. 0.222 0.481
270. KIJA Kawasan Industri Jababeka Tbk. 0.953 0.968
271. KINO Kino Indonesia Tbk. 0.907 0.938
272. KIOS Kioson Komersial Indonesia Tbk. 0.774 0.849
273. KKGI Resource Alam Indonesia Tbk. 1.160 1.107
274. KLBF Kalbe Farma Tbk. 0.749 0.833
275. KMTR Kirana Megatara Tbk. 0.963 0.975
276. KOBX Kobexindo Tractors Tbk. 0.804 0.870
277. KOIN Kokoh Inti Arebama Tbk. 0.597 0.731
278. KOPI Mitra Energi Persada Tbk. 0.155 0.436
279. KPAL Steadfast Marine Tbk. 0.564 0.709
280. KPAS Cottonindo Ariesta Tbk. 0.286 0.524

Page 7 of 16
 PEFINDO BETA STOCK
Edition: 30-June-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

281. KPIG MNC Land Tbk. 0.292 0.528
282. KRAH Grand Kartech Tbk. 1.185 1.124
283. KRAS Krakatau Steel (Persero) Tbk. 2.012 1.675
284. KREN Kresna Graha Sekurindo Tbk. 0.601 0.734
285. LAND Trimitra Propertindo Tbk. 0.285 0.523
286. LCGP Laguna Cipta Griya Tbk. 0.008 0.339
287. LCKM LCK Global Kedaton Tbk. 0.046 0.364
288. LEAD Logindo Samudramakmur Tbk. 0.052 0.368
289. LINK Link Net Tbk. 0.695 0.797
290. LION Lion Metal Works Tbk. 0.856 0.904
291. LMAS Limas Centric Indonesia Tbk. 1.299 1.200
292. LMPI Langgeng Makmur Industri Tbk. 0.118 0.412
293. LPCK Lippo Cikarang Tbk. 1.791 1.528
294. LPGI Lippo General Insurance Tbk. 0.150 0.434
295. LPIN Multi Prima Sejahtera Tbk. 0.842 0.894
296. LPKR Lippo Karawaci Tbk. 1.586 1.391
297. LPLI Star Pacific Tbk. 0.018 0.345
298. LPPF Matahari Department Store Tbk. 1.625 1.417
299. LPPS Lippo Securities Tbk. 0.263 0.509
300. LRNA Eka Sari Lorena Transport Tbk. 0.749 0.833
301. LSIP PP London Sumatra Indonesia Tbk. 1.412 1.274
302. LTLS Lautan Luas Tbk. 0.525 0.683
303. MABA Marga Abhinaya Abadi Tbk. 0.039 0.359
304. MAGP Multi Agro Gemilang Plantation Tbk. 0.006 0.337
305. MAIN Malindo Feedmill Tbk. 1.649 1.433
306. MAPA Map Aktif Adiperkasa Tbk. 1.380 1.253
307. MAPB MAP Boga Adiperkasa Tbk. 0.483 0.655
308. MAPI Mitra Adiperkasa Tbk. 1.551 1.367
309. MARI Mahaka Radio Integra Tbk. 0.382 0.588
310. MARK Mark Dynamics Indonesia Tbk. 1.084 1.056
311. MASA Multistrada Arah Sarana Tbk. 0.700 0.800
312. MAYA Bank Mayapada Internasional Tbk. 0.838 0.892
313. MBAP Mitrabara Adiperdana Tbk. 0.866 0.911
314. MBSS Mitrabahtera Segara Sejati Tbk. 1.260 1.173
315. MBTO Martina Berto Tbk. 0.341 0.560
316. MCAS M Cash Integrasi Tbk. 1.790 1.527
317. MCOR Bank Windu Kentjana International Tbk. 1.287 1.191
318. MDIA Intermedia Capital Tbk. 0.234 0.490
319. MDKA Merdeka Copper Gold Tbk. 0.966 0.977
320. MDKI Emdeki Utama Tbk. 0.535 0.690

Page 8 of 16
 PEFINDO BETA STOCK
Edition: 30-June-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

321. MDLN Modernland Realty Ltd. Tbk. 1.357 1.238
322. MEDC Medco Energi International Tbk. 1.724 1.483
323. MEGA Bank Mega Tbk. 0.232 0.488
324. MERK Merck Tbk. 1.186 1.124
325. META Nusantara Infrastructure Tbk. 1.170 1.113
326. MFIN Mandala Multifinance Tbk. 0.422 0.615
327. MFMI Multifiling Mitra Indonesia Tbk. 0.684 0.789
328. MGNA Magna Finance Tbk. 0.000 0.333
329. MGRO Mahkota Group Tbk. 0.548 0.699
330. MICE Multi Indocitra Tbk. 0.165 0.443
331. MIDI Midi Utama Indonesia Tbk. 0.260 0.507
332. MIKA Mitra Keluarga Karyasehat Tbk. 0.545 0.697
333. MINA Sanurhasta Mitra Tbk. 0.374 0.582
334. MITI Mitra Investindo Tbk. 0.126 0.417
335. MKNT Mitra Komunikasi Nusantara Tbk. 0.109 0.406
336. MKPI Metropolitan Kentjana Tbk. 0.026 0.350
337. MLBI Multi Bintang Indonesia Tbk. 0.812 0.874
338. MLIA Mulia Industrindo Tbk. 0.576 0.717
339. MLPL Multipolar Tbk. 0.572 0.715
340. MLPT Multipolar Technology Tbk. 1.011 1.008
341. MMLP Mega Manunggal Property Tbk. 0.429 0.620
342. MNCN Media Nusantara Citra Tbk. 1.559 1.373
343. MPMX Mitra Pinasthika Mustika Tbk. 0.821 0.880
344. MPOW Megapower Makmur Tbk. 0.356 0.571
345. MPPA Matahari Putra Prima Tbk. 0.346 0.564
346. MPRO Propertindo Mulia Investama Tbk. 0.860 0.907
347. MRAT Mustika Ratu Tbk. 0.390 0.594
348. MSIN MNC Studios International Tbk. 0.727 0.818
349. MSKY MNC Sky Vision Tbk. 0.267 0.512
350. MTDL Metrodata Electronics Tbk. 1.045 1.030
351. MTLA Metropolitan Land Tbk. 0.503 0.669
352. MTRA Mitra Pemuda Tbk. 0.063 0.375
353. MTWI Malacca Trust Wuwungan Insurance Tbk. 0.340 0.560
354. MYOH Samindo Resources Tbk. 0.439 0.626
355. MYOR Mayora Indah Tbk. 0.515 0.677
356. MYRX Hanson International Tbk. 0.048 0.365
357. NASA Ayana Land International Tbk. 0.085 0.390
358. NFCX NFC Indonesia Tbk. 0.287 0.525
359. NIKL Pelat Timah Nusantara Tbk. 1.753 1.502
360. NISP Bank OCBC NISP Tbk. 0.307 0.538

Page 9 of 16
 PEFINDO BETA STOCK
Edition: 30-June-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

361. NOBU Bank Nationalnobu Tbk. 0.087 0.391
362. NRCA Nusa Raya Cipta Tbk. 0.785 0.856
363. NUSA Sinergi Megah Internusa Tbk. 0.027 0.352
364. OASA Protech Mitra Perkasa Tbk. 0.388 0.592
365. OKAS Ancora Indonesia Resources Tbk. 0.609 0.739
366. OMRE Indonesia Prima Property Tbk. 0.553 0.702
367. PADI Minna Padi Investama Tbk. 0.276 0.517
368. PALM Provident Agro Tbk. 0.578 0.719
369. PANI Pratama Abadi Nusa Industri Tbk. 2.303 1.868
370. PANR Panorama Sentrawisata Tbk. 2.722 2.148
371. PANS Panin Sekuritas Tbk. 1.343 1.228
372. PBID Panca Budi Idaman Tbk. 0.669 0.780
373. PBRX Pan Brothers Tbk. 0.943 0.962
374. PBSA Paramita Bangun Sarana Tbk. 0.689 0.792
375. PCAR Prima Cakrawala Abadi Tbk. 0.719 0.813
376. PDES Destinasi Tirta Nusantara Tbk. 1.589 1.392
377. PEHA Phapros Tbk. 0.825 0.883
378. PGAS PT Perusahaan Gas Negara Tbk. 2.143 1.762
379. PGLI Pembangunan Graha Lestari Indah Tbk. 0.188 0.459
380. PICO Pelangi Indah Canindo Tbk. 0.728 0.818
381. PJAA Pembangunan Jaya Ancol Tbk. 1.340 1.226
382. PKPK Perdana Karya Perkasa Tbk. 0.360 0.573
383. PLIN Plaza Indonesia Realty Tbk. 0.230 0.487
384. PNBN Bank Pan Indonesia Tbk. 1.557 1.371
385. PNBS Bank Panin Syariah Tbk. 0.258 0.505
386. PNIN Panin Insurance Tbk. 1.088 1.059
387. PNLF Panin Financial Tbk. 1.361 1.241
388. POLA Pool Advista Finance Tbk. 1.607 1.405
389. POLU Golden Flower Tbk. 0.550 0.700
390. POLY Asia Pacific Fibers Tbk. 0.251 0.501
391. POOL Pool Advista Indonesia Tbk. 0.274 0.516
392. PORT Nusantara Pelabuhan Handal Tbk. 0.093 0.395
393. POSA Bliss Properti Indonesia Tbk. 0.090 0.393
394. POWR Cikarang Listrindo Tbk. 0.918 0.945
395. PPRE PP Presisi Tbk. 1.935 1.623
396. PPRO PP Properti Tbk. 1.055 1.036
397. PRDA Prodia Widyahusada Tbk. 0.425 0.616
398. PRIM Royal Prima Tbk. 0.362 0.575
399. PSAB J Resources Asia Pasifik Tbk. 0.718 0.812
400. PSDN Prasidha Aneka Niaga Tbk. 0.189 0.459

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 PEFINDO BETA STOCK
Edition: 30-June-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

401. PSKT Pusako Tarinka Tbk. 0.130 0.420
402. PSSI Pelita Samudera Shipping Tbk. 0.491 0.661
403. PTBA Tambang Batubara Bukit Asam (Persero) Tbk. 1.062 1.042
404. PTIS Indo Straits Tbk. 0.610 0.740
405. PTPP PP (Persero) Tbk. 2.486 1.990
406. PTRO Petrosea Tbk. 1.184 1.123
407. PTSN Sat Nusapersada Tbk. 1.008 1.006
408. PTSP Pioneerindo Gourmet International Tbk. 0.006 0.337
409. PUDP Pudjiadi Prestige Tbk. 0.819 0.879
410. PWON Pakuwon Jati Tbk. 1.595 1.397
411. PYFA Pyridam Farma Tbk. 0.808 0.872
412. PZZA Sarimelati Kencana Tbk. 1.236 1.157
413. RAJA Rukun Raharja Tbk. 1.521 1.347
414. RALS Ramayana Lestari Sentosa Tbk. 1.702 1.468
415. RANC Supra Boga Lestari Tbk. 0.511 0.674
416. RBMS Ristia Bintang Mahkotasejati Tbk. 0.232 0.488
417. RDTX Roda Vivatex Tbk. 0.195 0.463
418. RIGS Rig Tenders Indonesia Tbk. 0.566 0.710
419. RIMO Rimo International Lestari Tbk. 0.039 0.359
420. RMBA Bentoel Internasional Investama Tbk. 0.271 0.514
421. RODA Pikko Land Development Tbk. 0.127 0.418
422. ROTI Nippon Indosari Corpindo Tbk. 0.267 0.511
423. RUIS Radiant Utama Interinsco Tbk. 0.645 0.763
424. SAFE Steady Safe Tbk. 0.236 0.491
425. SAME Sarana Meditama Metropolitan Tbk. 0.743 0.829
426. SAPX Satria Antaran Prima Tbk. 0.044 0.362
427. SATU Kota Satu Properti Tbk. 0.343 0.562
428. SCCO Supreme Cable Manufacturing & Commerce Tbk. 0.056 0.371
429. SCMA Surya Citra Media Tbk. 1.473 1.316
430. SDMU Sidomulyo Selaras Tbk. 0.296 0.531
431. SDPC Millennium Pharmacon International Tbk. 0.846 0.897
432. SDRA Bank Woori Saudara Indonesia 1906 Tbk. 0.110 0.407
433. SFAN Surya Fajar Capital Tbk. 0.530 0.687
434. SGRO Sampoerna Agro Tbk. 0.281 0.521
435. SHID Hotel Sahid Jaya International Tbk. 0.118 0.412
436. SHIP Sillo Maritime Perdana Tbk. 0.298 0.532
437. SIDO Industri Jamu dan Farmasi Sido Muncul Tbk. 0.377 0.585
438. SILO Siloam International Hospitals Tbk. 0.466 0.644
439. SIMA Siwani Makmur Tbk. 0.037 0.358
440. SIMP Salim Ivomas Pratama Tbk. 1.402 1.268

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 PEFINDO BETA STOCK
Edition: 30-June-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

441. SIPD Sierad Produce Tbk. 0.331 0.554
442. SKBM Sekar Bumi Tbk. 0.012 0.341
443. SKLT Sekar Laut Tbk. 0.138 0.425
444. SKRN Superkrane Mitra Utama Tbk. 0.595 0.730
445. SKYB Skybee Tbk. 0.097 0.398
446. SMAR Smart Tbk. 0.940 0.960
447. SMBR Semen Baturaja (Persero) Tbk. 2.615 2.077
448. SMCB Holcim Indonesia Tbk. 1.035 1.023
449. SMDM Suryamas Dutamakmur Tbk. 0.426 0.617
450. SMDR Samudera Indonesia Tbk. 1.032 1.021
451. SMGR Semen Indonesia (Persero) Tbk. 1.263 1.175
452. SMMA Sinarmas Multiartha Tbk. 0.055 0.370
453. SMMT Golden Eagle Energy Tbk. 1.041 1.028
454. SMRA Summarecon Agung Tbk. 1.684 1.456
455. SMRU SMR Utama Tbk. 0.063 0.375
456. SMSM Selamat Sempurna Tbk. 0.850 0.900
457. SOCI Soechi Lines Tbk. 1.702 1.468
458. SONA Sona Topas Tourism Industry Tbk. 0.012 0.342
459. SOSS Shield On Service Tbk. 0.019 0.346
460. SPMA Suparma Tbk. 0.351 0.567
461. SPTO Surya Pertiwi Tbk. 0.809 0.873
462. SQMI Renuka Coalindo Tbk. 0.967 0.978
463. SRAJ Sejahteraraya Anugrahjaya Tbk. 0.404 0.603
464. SRIL Sri Rejeki Isman Tbk. 1.307 1.205
465. SRSN Indo Acidatama Tbk. 0.144 0.429
466. SRTG Saratoga Investama Sedaya Tbk. 0.654 0.769
467. SSIA Surya Semesta Internusa Tbk. 0.997 0.998
468. SSMS Sawit Sumbermas Sarana Tbk. 0.113 0.409
469. SSTM Sunson Textile Manufacture Tbk. 0.459 0.639
470. STAR Star Petrochem Tbk. 0.175 0.450
471. SUPR Solusi Tunas Pratama Tbk. 0.574 0.716
472. SWAT Sriwahana Adityakarta Tbk. 0.537 0.691
473. TBIG Tower Bersama Infrastructure Tbk. 0.845 0.896
474. TBLA Tunas Baru Lampung Tbk. 1.237 1.158
475. TBMS Tembaga Mulia Semanan Tbk. 0.262 0.508
476. TCID Mandom Indonesia Tbk. 0.111 0.408
477. TCPI Transcoal Pacific Tbk. 0.902 0.935
478. TDPM Tridomain Performance Materials Tbk. 0.767 0.845
479. TELE Tiphone Mobile Indonesia Tbk. 1.293 1.195
480. TFCO Tifico Fiber Indonesia Tbk. 0.514 0.676

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 PEFINDO BETA STOCK
Edition: 30-June-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

481. TGRA Terregra Asia Energy Tbk. 1.335 1.224
482. TIFA Tifa Finance Tbk. 0.057 0.371
483. TINS Timah (Persero) Tbk. 2.054 1.703
484. TIRT Tirta Mahakam Resources Tbk. 0.025 0.350
485. TKIM Pabrik Kertas Tjiwi Kimia Tbk. 1.939 1.626
486. TLKM Telekomunikasi Indonesia (Persero) Tbk. 0.897 0.931
487. TMAS Pelayaran Tempuran Emas Tbk. 0.369 0.579
488. TMPO Tempo Intimedia Tbk. 0.212 0.474
489. TNCA Trimuda Nuansa Citra Tbk. 0.295 0.530
490. TOBA Toba Bara Sejahtra Tbk. 0.221 0.481
491. TOPS Totalindo Eka Persada Tbk. 0.529 0.686
492. TOTL Total Bangun Persada Tbk. 0.984 0.990
493. TOTO Surya Toto Indonesia Tbk. 0.639 0.760
494. TOWR Sarana Menara Nusantara Tbk. 0.638 0.759
495. TPIA Chandra Asri Petrochemical Tbk. 1.079 1.053
496. TPMA Trans Power Marine Tbk. 0.350 0.567
497. TRAM Trada Maritime Tbk. 0.072 0.381
498. TRIL Triwira Insanlestari Tbk. 0.001 0.334
499. TRIM Trimegah Securities Tbk. 0.271 0.514
500. TRIO Trikomsel Oke Tbk. 0.416 0.611
501. TRST Trias Sentosa Tbk. 0.392 0.594
502. TRUK Guna Timur Raya Tbk. 0.662 0.775
503. TSPC Tempo Scan Pacific Tbk. 0.742 0.828
504. TUGU Asuransi Tugu Pratama Indonesia Tbk. 0.494 0.663
505. TURI Tunas Ridean Tbk. 0.005 0.336
506. ULTJ Ultra Jaya Milk Industry & Trading Company, Tbk. 0.409 0.606
507. UNIC Unggul Indah Cahaya Tbk. 0.536 0.690
508. UNIT Nusantara Inti Corpora Tbk. 0.583 0.722
509. UNSP Bakrie Sumatra Plantations Tbk. 1.284 1.189
510. UNTR United Tractors Tbk. 0.988 0.992
511. UNVR Unilever Indonesia Tbk. 0.313 0.542
512. VIVA Visi Media Asia Tbk. 0.091 0.394
513. VOKS Voksel Electric Tbk. 0.407 0.604
514. VRNA Verena Multi Finance Tbk. 0.059 0.372
515. WEGE Wijaya Karya Bangunan Gedung Tbk. 1.605 1.403
516. WEHA WEHA Transportasi Indonesia Tbk. 1.165 1.110
517. WIIM Wismilak Inti Makmur Tbk. 2.000 1.667
518. WIKA Wijaya Karya (Persero) Tbk. 2.084 1.723
519. WINS Wintermar Offshore Marine Tbk. 0.754 0.836
520. WOMF Wahana Ottomitra Multiartha Tbk. 0.898 0.932

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 PEFINDO BETA STOCK
Edition: 30-June-2022

No. TICKER COMPANY RAW BETA ADJUSTED BETA

521. WOOD Integra Indocabinet Tbk. 1.150 1.100
522. WSBP Waskita Beton Precast Tbk. 1.819 1.546
523. WSKT Waskita Karya (Persero) Tbk. 2.523 2.015
524. WTON Wijaya Karya Beton Tbk. 1.768 1.512
525. YELO Yelooo Integra Datanet Tbk. 0.790 0.860
526. YPAS Yanaprima Hastapersada Tbk. 1.035 1.024
527. YULE Yulie Sekurindo Tbk. 0.645 0.763
528. ZINC Kapuas Prima Coal Tbk. 1.293 1.195
529. ZONE Mega Perintis Tbk. 0.399 0.599

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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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