PEFINDO BETA STOCK

Edition: 07-December-2023

No. TICKER COMPANY RAW BETA ADJUSTED BETA

1. AALI Astra Agro Lestari Tbk. 1.310 1.207
2. ABBA Mahaka Media Tbk. 0.125 0.417
3. ABMM ABM Investama Tbk. 0.899 0.933
4. ACES Ace Hardware Indonesia Tbk. 0.614 0.743
5. ACST Acset Indonusa Tbk. 2.122 1.748
6. ADHI Adhi Karya (Persero) Tbk. 2.016 1.677
7. ADMF Adira Dinamika Multi Finance Tbk. 0.507 0.671
8. ADMG Polychem Indonesia Tbk. 0.932 0.955
9. ADRO Adaro Energy Tbk. 1.707 1.471
10. AGAR Asia Sejahtera Mina Tbk. 0.120 0.413
11. AGII Aneka Gas Industri Tbk. 2.785 2.190
12. AGRO Bank Rakyat Indonesia Agroniaga Tbk. 3.160 2.440
13. AGRS Bank Agris Tbk. 1.660 1.440
14. AHAP Asuransi Harta Aman Pratama Tbk. 1.431 1.287
15. AIMS Akbar Indo Makmur Stimec Tbk. 0.869 0.912
16. AISA Tiga Pilar Sejahtera Food Tbk. 0.933 0.955
17. AKPI Argha Karya Prima Industry Tbk. 1.846 1.564
18. AKRA AKR Corporindo Tbk. 0.829 0.886
19. AKSI Majapahit Inti Corpora Tbk. 0.649 0.766
20. ALKA Alakasa Industrindo Tbk. 0.554 0.703
21. ALMI Alumindo Light Metal Industry Tbk. 0.038 0.359
22. ALTO Tri Banyan Tirta Tbk. 0.526 0.684
23. AMAG Asuransi Multi Artha Guna Tbk. 0.068 0.379
24. AMAN Makmur Berkah Amanda Tbk. 0.258 0.505
25. AMAR Bank Amar Indonesia Tbk. 0.521 0.680
26. AMFG Asahimas Flat Glass Tbk. 0.590 0.726
27. AMIN Ateliers Mecaniques D Indonesie Tbk. 1.021 1.014
28. AMRT Sumber Alfaria Trijaya Tbk. 0.771 0.847
29. ANJT Austindo Nusantara Jaya Tbk. 1.134 1.089
30. ANTM Aneka Tambang (Persero) Tbk. 2.411 1.941
31. APEX Apexindo Pratama Duta Tbk. 1.464 1.309
32. APIC Pacific Strategic Financial Tbk. 0.652 0.768
33. APII Arita Prima Indonesia Tbk. 0.327 0.551
34. APLI Asiaplast Industries Tbk. 0.244 0.496
35. APLN Agung Podomoro Land Tbk. 1.244 1.163
36. ARGO Argo Pantes Tbk. 0.296 0.530
37. ARII Atlas Resources Tbk. 0.656 0.771
38. ARMY Armidian Karyatama Tbk. 0.131 0.421
39. ARNA Arwana Citramulia Tbk. 0.879 0.919
40. ARTA Arthavest Tbk. 0.505 0.670

Page 1 of 16
 PEFINDO BETA STOCK
Edition: 07-December-2023

No. TICKER COMPANY RAW BETA ADJUSTED BETA

41. ARTO Bank Artos Indonesia Tbk. 2.494 1.996
42. ASBI Asuransi Bintang Tbk. 0.371 0.581
43. ASDM Asuransi Dayin Mitra Tbk. 0.295 0.530
44. ASGR Astra Graphia Tbk. 0.617 0.745
45. ASII Astra International Tbk. 1.414 1.276
46. ASJT Asuransi Jasa Tania Tbk. 0.587 0.724
47. ASMI Asuransi Mitra Maparya Tbk. 0.956 0.971
48. ASPI Andalan Sakti Primaindo Tbk. 0.897 0.931
49. ASRI Alam Sutera Realty Tbk. 1.407 1.271
50. ASRM Asuransi Ramayana Tbk. 0.225 0.483
51. ASSA Adi Sarana Armada Tbk. 1.478 1.319
52. ATIC Anabatic Technologies Tbk. 1.826 1.550
53. AUTO Astra Otoparts Tbk. 0.774 0.849
54. BABP Bank MNC Internasional Tbk. 3.065 2.377
55. BACA Bank Capital Indonesia Tbk. 0.638 0.759
56. BAJA Saranacentral Bajatama Tbk. 0.224 0.483
57. BALI Bali Towerindo Sentra Tbk. 0.610 0.740
58. BAPA Bekasi Asri Pemula Tbk. 1.238 1.158
59. BATA Sepatu Bata Tbk. 0.154 0.436
60. BAYU Bayu Buana Tbk. 0.280 0.520
61. BBCA Bank Central Asia Tbk. 0.974 0.983
62. BBKP Bank Bukopin Tbk. 2.087 1.724
63. BBLD Buana Finance Tbk. 0.311 0.541
64. BBMD Bank Mestika Dharma Tbk. 0.258 0.506
65. BBNI Bank Negara Indonesia (Persero) Tbk. 1.589 1.393
66. BBRI Bank Rakyat Indonesia (Persero) Tbk. 1.324 1.216
67. BBSI Bank Bisnis Internasional Tbk. 0.704 0.803
68. BBSS Bumi Benowo Sukses Sejahtera Tbk. 0.956 0.971
69. BBTN Bank Tabungan Negara (Persero) Tbk. 1.587 1.391
70. BBYB Bank Yudha Bhakti Tbk. 3.362 2.575
71. BCIP Bumi Citra Permai Tbk. 0.162 0.441
72. BDMN Bank Danamon Indonesia Tbk. 0.867 0.911
73. BEEF Estika Tata Tiara Tbk. 0.606 0.738
74. BEKS Bank Pundi Indonesia Tbk. 0.302 0.535
75. BESS Batulicin Nusantara Maritim Tbk. 2.184 1.789
76. BEST Bekasi Fajar Industrial Estate Tbk. 1.055 1.036
77. BFIN BFI Finance Indonesia Tbk. 1.291 1.194
78. BGTG Bank Ganesha Tbk. 3.101 2.401
79. BHAT Bhakti Multi Artha Tbk. 0.348 0.566
80. BHIT MNC Investama Tbk. 1.061 1.041

Page 2 of 16
 PEFINDO BETA STOCK
Edition: 07-December-2023

No. TICKER COMPANY RAW BETA ADJUSTED BETA

81. BIKA Binakarya Jaya Abadi Tbk. 1.139 1.093
82. BIMA Primarindo Asia Infrastructure Tbk. 0.822 0.881
83. BINA Bank Ina Perdana Tbk. 0.257 0.505
84. BIPI Benakat Petroleum Energy Tbk. 1.823 1.549
85. BIPP Bhuwanatala Indah Permai Tbk. 0.177 0.451
86. BIRD Blue Bird Tbk. 1.123 1.082
87. BISI BISI International Tbk. 0.502 0.668
88. BJBR Bank Pembangunan Daerah Jawa Barat dan Bante 0.829 0.886
89. BJTM Bank Pembangunan Daerah Jawa Timur Tbk. 0.773 0.849
90. BKDP Bukit Darmo Property Tbk. 0.451 0.634
91. BKSL Sentul City Tbk. 0.023 0.348
92. BKSW Bank QNB Indonesia Tbk. 1.451 1.300
93. BLTA Berlian Laju Tanker Tbk. 0.238 0.492
94. BLUE Berkah Prima Perkasa Tbk. 0.386 0.590
95. BMRI Bank Mandiri (Persero) Tbk. 1.272 1.181
96. BMTR Global Mediacom Tbk. 1.329 1.219
97. BNBR Bakrie & Brothers Tbk. 0.188 0.459
98. BNGA Bank CIMB Niaga Tbk. 0.890 0.927
99. BNII Bank Maybank Indonesia Tbk. 1.470 1.313
100. BNLI Bank Permata Tbk. 0.520 0.680
101. BOGA Bintang Oto Global Tbk. 0.384 0.590
102. BOLA Bali Bintang Sejahtera Tbk. 2.496 1.997
103. BOSS Borneo Olah Sarana Sukses Tbk. 0.828 0.885
104. BPFI Batavia Prosperindo Finance Tbk. 0.032 0.355
105. BRAM Indo Kordsa Tbk. 0.112 0.408
106. BRIS Bank BRIsyariah Tbk. 2.048 1.699
107. BRMS Bumi Resources Minerals Tbk. 2.121 1.748
108. BRPT Barito Pacific Tbk. 0.963 0.975
109. BSDE Bumi Serpong Damai Tbk. 0.739 0.826
110. BSIM Bank Sinarmas Tbk. 0.248 0.499
111. BSSR Baramulti Suksessarana Tbk. 0.708 0.805
112. BTEK Bumi Teknokultura Unggul Tbk. 0.081 0.387
113. BTEL Bakrie Telecom Tbk. 0.000 0.333
114. BTPN Bank Tabungan Pensiunan Nasional Tbk. 0.409 0.606
115. BTPS Bank Tabungan Pensiunan Nasional Syariah Tbk. 1.555 1.370
116. BUKK Bukaka Teknik Utama Tbk. 0.579 0.720
117. BULL Buana Listya Tama Tbk. 0.475 0.650
118. BUMI Bumi Resources Tbk. 3.292 2.528
119. BVIC Bank Victoria International Tbk. 2.269 1.846
120. BWPT Eagle High Plantations Tbk. 1.672 1.448

Page 3 of 16
 PEFINDO BETA STOCK
Edition: 07-December-2023

No. TICKER COMPANY RAW BETA ADJUSTED BETA

121. CAKK Cahayaputra Asa Keramik Tbk. 0.326 0.551
122. CAMP Campina Ice Cream Industry Tbk. 0.034 0.356
123. CANI Capitol Nusantara Indonesia Tbk. 0.228 0.485
124. CARE Metro Healthcare Indonesia Tbk. 0.532 0.688
125. CARS Industri dan Perdagangan Bintraco Dharma Tbk. 1.109 1.073
126. CASA Capital Financial Indonesia Tbk. 0.205 0.470
127. CASS Cardig Aero Services Tbk. 0.324 0.549
128. CBMF Cahaya Bintang Medan Tbk. 0.803 0.868
129. CCSI Communication Cable Systems Indonesia Tbk. 0.315 0.543
130. CEKA Wilmar Cahaya Indonesia Tbk. 0.013 0.342
131. CENT Centrin Online Tbk. 1.386 1.257
132. CFIN Clipan Finance Indonesia Tbk. 0.931 0.954
133. CINT Chitose Internasional Tbk. 0.877 0.918
134. CITA Cita Mineral Investindo Tbk. 0.730 0.820
135. CITY Natura City Developments Tbk. 1.604 1.403
136. CLAY Citra Putra Realty Tbk. 0.565 0.710
137. CLEO Sariguna Primatirta Tbk. 0.119 0.413
138. CLPI Colorpak Indonesia Tbk. 0.044 0.363
139. CMPP Rimau Multi Putra Pratama Tbk. 1.387 1.258
140. CNKO Exploitasi Energi Indonesia Tbk. 0.000 0.334
141. CNTX Century Textile Industry Tbk. 0.829 0.886
142. COCO Wahana Interfood Nusantara Tbk. 0.549 0.699
143. COWL Cowell Development Tbk. 0.200 0.466
144. CPRI Capri Nusa Satu Properti Tbk. 0.054 0.370
145. CPRO Central Proteinaprima Tbk. 0.797 0.864
146. CSAP Catur Sentosa Adiprana Tbk. 0.952 0.968
147. CSIS Cahayasakti Investindo Sukses Tbk. 0.342 0.561
148. CSMI Cipta Selera Murni Tbk. 0.022 0.348
149. CSRA Cisadane Sawit Raya Tbk. 1.793 1.528
150. CTRA Ciputra Development Tbk. 1.101 1.067
151. DART Duta Anggada Realty Tbk. 0.511 0.674
152. DAYA Duta Intidaya Tbk. 0.637 0.758
153. DEAL Dewata Freightinternational Tbk. 0.097 0.398
154. DEWA Darma Henwa Tbk. 1.230 1.153
155. DFAM Dafam Property Indonesia Tbk. 1.341 1.227
156. DGIK Nusa Konstruksi Enjiniring Tbk. 0.877 0.918
157. DIGI Arkadia Digital Media Tbk. 0.203 0.469
158. DILD Intiland Development Tbk. 0.880 0.920
159. DKFT Central Omega Resources Tbk. 1.519 1.346
160. DLTA Delta Djakarta Tbk. 0.350 0.567

Page 4 of 16
 PEFINDO BETA STOCK
Edition: 07-December-2023

No. TICKER COMPANY RAW BETA ADJUSTED BETA

161. DMAS Puradelta Lestari Tbk. 0.595 0.730
162. DMND Diamond Food Indonesia Tbk. 0.387 0.591
163. DNAR Bank Dinar Indonesia Tbk. 1.114 1.076
164. DOID Delta Dunia Makmur Tbk. 1.346 1.230
165. DPNS Duta Pertiwi Nusantara Tbk. 0.261 0.507
166. DSFI Dharma Samudera Fishing Industries Tbk. 1.098 1.065
167. DSNG Dharma Satya Nusantara Tbk. 1.323 1.215
168. DSSA Dian Swastatika Sentosa Tbk. 1.484 1.322
169. DUCK Jaya Bersama Indo Tbk. 0.171 0.447
170. DUTI Duta Pertiwi Tbk. 0.427 0.618
171. EAST Eastparc Hotel Tbk. 0.223 0.482
172. ECII Electronic City Indonesia Tbk. 0.073 0.382
173. EKAD Ekadharma International Tbk. 0.149 0.433
174. ELSA Elnusa Tbk. 1.523 1.348
175. EMDE Megapolitan Developments Tbk. 0.079 0.386
176. EMTK Elang Mahkota Teknologi Tbk. 2.391 1.927
177. ENRG Energi Mega Persada Tbk. 2.391 1.927
178. ENZO Morenzo Abadi Perkasa Tbk. 0.109 0.406
179. EPMT Enseval Putera Megatrading Tbk. 0.213 0.475
180. ERAA Erajaya Swasembada Tbk. 1.037 1.025
181. ESIP Sinergi Inti Plastindo Tbk. 1.271 1.180
182. ESSA Surya Esa Perkasa Tbk. 1.994 1.662
183. EXCL XL Axiata Tbk. 0.951 0.967
184. FAST Fast Food Indonesia Tbk. 0.349 0.566
185. FASW Fajar Surya Wisesa Tbk. 0.016 0.344
186. FILM MD Pictures Tbk. 1.439 1.292
187. FIRE Alfa Energi Investama Tbk. 0.635 0.756
188. FISH FKS Multi Agro Tbk. 0.817 0.878
189. FITT Hotel Fitra International Tbk. 1.153 1.102
190. FOOD Sentra Food Indonesia Tbk. 0.425 0.616
191. FORU Fortune Indonesia Tbk. 2.784 2.190
192. FPNI Lotte Chemical Titan Tbk. 1.991 1.660
193. FREN Smartfren Telecom Tbk. 1.420 1.280
194. GDST Gunawan Dianjaya Steel Tbk. 1.436 1.291
195. GDYR Goodyear Indonesia Tbk. 1.114 1.076
196. GEMA Gema Grahasarana Tbk. 0.101 0.401
197. GEMS Golden Energy Mines Tbk. 0.410 0.607
198. GGRM Gudang Garam Tbk. 0.471 0.648
199. GGRP Gunung Raja Paksi Tbk. 1.700 1.467
200. GHON Gihon Telekomunikasi Indonesia Tbk. 0.639 0.760

Page 5 of 16
 PEFINDO BETA STOCK
Edition: 07-December-2023

No. TICKER COMPANY RAW BETA ADJUSTED BETA

201. GIAA Garuda Indonesia (Persero) Tbk. 0.312 0.541
202. GJTL Gajah Tunggal Tbk. 0.907 0.938
203. GMFI Garuda Maintenance Facility Aero Asia Tbk. 0.089 0.393
204. GMTD Gowa Makassar Tourism Development Tbk. 0.192 0.461
205. GOLD Golden Retailindo Tbk. 0.692 0.795
206. GOOD Garudafood Putra Putri Jaya Tbk. 0.873 0.915
207. GPRA Perdana Gapuraprima Tbk. 0.666 0.778
208. GSMF Equity Development Investment Tbk. 0.987 0.991
209. GWSA Greenwood Sejahtera Tbk. 1.474 1.316
210. GZCO Gozco Plantations Tbk. 2.702 2.135
211. HDFA HD Finance Tbk. 0.929 0.953
212. HDIT Hensel Davest Indonesia Tbk. 3.773 2.849
213. HELI Jaya Trishindo Tbk. 1.725 1.483
214. HERO Hero Supermarket Tbk. 0.400 0.600
215. HEXA Hexindo Adiperkasa Tbk. 0.724 0.816
216. HITS Humpuss Intermoda Transportasi Tbk. 0.592 0.728
217. HMSP H.M. Sampoerna Tbk. 0.278 0.519
218. HOKI Buyung Poetra Sembada Tbk. 1.384 1.256
219. HOMI Grand House Mulia Tbk. 0.461 0.640
220. HOTL Saraswati Griya Lestari Tbk. 0.022 0.348
221. HRME Menteng Heritage Realty Tbk. 0.213 0.475
222. HRTA Hartadinata Abadi Tbk. 0.180 0.453
223. HRUM Harum Energy Tbk. 2.173 1.782
224. IATA Indonesia Air Transport Tbk. 2.952 2.301
225. IBFN Intan Baruprana Finance Tbk. 1.880 1.587
226. IBST Inti Bangun Sejahtera Tbk. 1.346 1.231
227. IDPR Indonesia Pondasi Raya Tbk. 0.701 0.801
228. IFSH Ifishdeco Tbk. 0.322 0.548
229. IIKP Inti Agri Resources Tbk. 0.303 0.535
230. IKAI Intikeramik Alamasri Industri Tbk. 0.042 0.362
231. IKAN Era Mandiri Cemerlang Tbk. 0.422 0.614
232. IKBI Sumi Indo Kabel Tbk. 0.944 0.963
233. IMAS Indomobil Sukses Internasional Tbk. 1.399 1.266
234. IMJS Indomobil Multi Jasa Tbk. 0.092 0.395
235. IMPC Impack Pratama Industri Tbk. 0.399 0.599
236. INAF Indofarma Tbk. 1.190 1.127
237. INAI Indal Aluminium Industry Tbk. 0.060 0.373
238. INCF Amstelco Indonesia Tbk 1.661 1.441
239. INCI Intanwijaya Internasional Tbk. 0.534 0.690
240. INCO Vale Indonesia Tbk. 1.686 1.457

Page 6 of 16
 PEFINDO BETA STOCK
Edition: 07-December-2023

No. TICKER COMPANY RAW BETA ADJUSTED BETA

241. INDO Royalindo Investa Wijaya Tbk. 1.323 1.215
242. INDR Indo-Rama Synthetics Tbk. 0.733 0.822
243. INDS Indospring Tbk. 0.234 0.489
244. INDY Indika Energy Tbk. 2.449 1.966
245. INKP Indah Kiat Pulp & Paper Tbk. 1.537 1.358
246. INOV Inocycle Technology Group Tbk. 1.515 1.343
247. INPC Bank Artha Graha Internasional Tbk. 2.463 1.975
248. INPS Indah Prakasa Sentosa Tbk. 0.947 0.964
249. INRU Toba Pulp Lestari Tbk. 1.126 1.084
250. INTA Intraco Penta Tbk. 1.069 1.046
251. INTP Indocement Tunggal Prakasa Tbk. 0.516 0.678
252. IPCC Indonesia Kendaraan Terminal Tbk. 0.699 0.799
253. IPCM Jasa Armada Indonesia Tbk. 0.477 0.652
254. IPOL Indopoly Swakarsa Industry Tbk. 1.028 1.018
255. IPTV MNC Vision Networks Tbk. 1.483 1.322
256. IRRA Itama Ranoraya Tbk. 2.108 1.739
257. ISAT Indosat Tbk. 0.886 0.924
258. ISSP Steel Pipe Industry of Indonesia Tbk. 1.123 1.082
259. ITIC Indonesian Tobacco Tbk. 0.309 0.540
260. ITMA Sumber Energi Andalan Tbk. 1.292 1.195
261. ITMG Indo Tambangraya Megah Tbk. 1.446 1.298
262. JAST Jasnita Telekomindo Tbk. 1.501 1.334
263. JAYA Armada Berjaya Trans Tbk. 0.218 0.478
264. JECC Jembo Cable Company Tbk. 0.597 0.731
265. JGLE Graha Andrasentra Propertindo Tbk. 0.033 0.355
266. JIHD Jakarta International Hotels & Development Tbk. 0.520 0.680
267. JKON Jaya Konstruksi Manggala Pratama Tbk. 1.274 1.183
268. JMAS Asuransi Jiwa Syariah Jasa Mitra Abadi Tbk. 0.212 0.475
269. JRPT Jaya Real Property Tbk. 0.311 0.541
270. JSKY Sky Energy Indonesia Tbk. 0.327 0.551
271. JSMR Jasa Marga (Persero) Tbk. 0.802 0.868
272. JTPE Jasuindo Tiga Perkasa Tbk. 0.202 0.468
273. KAEF Kimia Farma Tbk. 1.351 1.234
274. KBLI KMI Wire & Cable Tbk. 0.047 0.365
275. KBLM Kabelindo Murni Tbk. 0.662 0.775
276. KBLV First Media Tbk. 0.869 0.913
277. KBRI Kertas Basuki Rachmat Indonesia Tbk. 0.007 0.338
278. KDSI Kedawung Setia Industrial Tbk. 0.301 0.534
279. KEEN Kencana Energi Lestari Tbk. 0.586 0.724
280. KEJU Mulia Boga Raya Tbk. 0.302 0.534

Page 7 of 16
 PEFINDO BETA STOCK
Edition: 07-December-2023

No. TICKER COMPANY RAW BETA ADJUSTED BETA

281. KIAS Keramika Indonesia Assosiasi Tbk. 0.204 0.469
282. KICI Kedaung Indah Can Tbk. 0.424 0.616
283. KIJA Kawasan Industri Jababeka Tbk. 0.403 0.602
284. KINO Kino Indonesia Tbk. 1.287 1.191
285. KIOS Kioson Komersial Indonesia Tbk. 2.282 1.854
286. KKGI Resource Alam Indonesia Tbk. 1.606 1.404
287. KMDS Kurniamitra Duta Sentosa Tbk. 0.576 0.717
288. KMTR Kirana Megatara Tbk. 0.134 0.423
289. KOIN Kokoh Inti Arebama Tbk. 1.836 1.558
290. KOPI Mitra Energi Persada Tbk. 0.454 0.636
291. KOTA DMS Propertindo Tbk. 0.548 0.699
292. KPIG MNC Land Tbk. 1.045 1.030
293. KRAH Grand Kartech Tbk. 0.060 0.374
294. KRAS Krakatau Steel (Persero) Tbk. 1.764 1.509
295. LCGP Laguna Cipta Griya Tbk. 0.021 0.347
296. LCKM LCK Global Kedaton Tbk. 0.146 0.431
297. LEAD Logindo Samudramakmur Tbk. 0.281 0.521
298. LINK Link Net Tbk. 0.599 0.733
299. LMAS Limas Centric Indonesia Tbk. 0.313 0.542
300. LMPI Langgeng Makmur Industri Tbk. 0.067 0.378
301. LPCK Lippo Cikarang Tbk. 0.651 0.768
302. LPIN Multi Prima Sejahtera Tbk. 0.298 0.532
303. LPKR Lippo Karawaci Tbk. 1.072 1.048
304. LPLI Star Pacific Tbk. 0.601 0.734
305. LPPF Matahari Department Store Tbk. 0.005 0.337
306. LSIP PP London Sumatra Indonesia Tbk. 1.498 1.332
307. LTLS Lautan Luas Tbk. 0.299 0.533
308. MAGP Multi Agro Gemilang Plantation Tbk. 0.006 0.337
309. MAIN Malindo Feedmill Tbk. 0.388 0.592
310. MAPA Map Aktif Adiperkasa Tbk. 0.893 0.928
311. MAPB MAP Boga Adiperkasa Tbk. 0.374 0.583
312. MAPI Mitra Adiperkasa Tbk. 0.535 0.690
313. MARI Mahaka Radio Integra Tbk. 2.353 1.902
314. MARK Mark Dynamics Indonesia Tbk. 1.827 1.551
315. MASA Multistrada Arah Sarana Tbk. 1.740 1.493
316. MAYA Bank Mayapada Internasional Tbk. 0.959 0.972
317. MBAP Mitrabara Adiperdana Tbk. 0.944 0.963
318. MBSS Mitrabahtera Segara Sejati Tbk. 0.988 0.992
319. MBTO Martina Berto Tbk. 0.124 0.416
320. MCAS M Cash Integrasi Tbk. 0.826 0.884

Page 8 of 16
 PEFINDO BETA STOCK
Edition: 07-December-2023

No. TICKER COMPANY RAW BETA ADJUSTED BETA

321. MCOR Bank Windu Kentjana International Tbk. 1.324 1.216
322. MDIA Intermedia Capital Tbk. 0.533 0.689
323. MDKA Merdeka Copper Gold Tbk. 2.189 1.793
324. MDKI Emdeki Utama Tbk. 0.613 0.742
325. MDLN Modernland Realty Ltd. Tbk. 1.651 1.434
326. MEDC Medco Energi International Tbk. 1.707 1.471
327. MEGA Bank Mega Tbk. 1.426 1.284
328. MERK Merck Tbk. 0.720 0.814
329. META Nusantara Infrastructure Tbk. 0.692 0.795
330. MFIN Mandala Multifinance Tbk. 0.529 0.686
331. MFMI Multifiling Mitra Indonesia Tbk. 0.503 0.669
332. MGRO Mahkota Group Tbk. 0.071 0.381
333. MICE Multi Indocitra Tbk. 0.460 0.640
334. MIDI Midi Utama Indonesia Tbk. 0.288 0.525
335. MITI Mitra Investindo Tbk. 0.874 0.916
336. MLBI Multi Bintang Indonesia Tbk. 0.672 0.781
337. MLIA Mulia Industrindo Tbk. 0.802 0.868
338. MLPT Multipolar Technology Tbk. 1.577 1.385
339. MMLP Mega Manunggal Property Tbk. 0.286 0.524
340. MNCN Media Nusantara Citra Tbk. 1.098 1.065
341. MOLI Madusari Murni Indah Tbk. 0.314 0.543
342. MPMX Mitra Pinasthika Mustika Tbk. 0.239 0.493
343. MPRO Propertindo Mulia Investama Tbk. 1.766 1.510
344. MREI Maskapai Reasuransi Indonesia Tbk. 0.048 0.365
345. MSIN MNC Studios International Tbk. 1.174 1.116
346. MSKY MNC Sky Vision Tbk. 1.538 1.359
347. MTDL Metrodata Electronics Tbk. 1.163 1.108
348. MTLA Metropolitan Land Tbk. 0.345 0.563
349. MTRA Mitra Pemuda Tbk. 0.007 0.338
350. MYOH Samindo Resources Tbk. 0.048 0.365
351. MYRX Hanson International Tbk. 0.047 0.365
352. NATO Nusantara Properti Internasional Tbk. 0.210 0.473
353. NELY Pelayaran Nelly Dwi Putri Tbk. 0.208 0.472
354. NFCX NFC Indonesia Tbk. 0.524 0.683
355. NIKL Pelat Timah Nusantara Tbk. 1.467 1.311
356. NIPS Nipress Tbk. 0.198 0.465
357. NISP Bank OCBC NISP Tbk. 0.654 0.770
358. NOBU Bank Nationalnobu Tbk. 1.334 1.222
359. NRCA Nusa Raya Cipta Tbk. 0.329 0.553
360. NUSA Sinergi Megah Internusa Tbk. 0.146 0.431

Page 9 of 16
 PEFINDO BETA STOCK
Edition: 07-December-2023

No. TICKER COMPANY RAW BETA ADJUSTED BETA

361. OASA Protech Mitra Perkasa Tbk. 0.638 0.759
362. OCAP Onix Capital Tbk. 0.063 0.375
363. OKAS Ancora Indonesia Resources Tbk. 1.439 1.293
364. OPMS Optima Prima Metal Sinergi Tbk. 0.120 0.414
365. PALM Provident Agro Tbk. 1.625 1.416
366. PAMG Bima Sakti Pertiwi Tbk. 0.178 0.452
367. PANR Panorama Sentrawisata Tbk. 2.119 1.746
368. PANS Panin Sekuritas Tbk. 1.233 1.155
369. PBID Panca Budi Idaman Tbk. 0.427 0.618
370. PBRX Pan Brothers Tbk. 1.377 1.251
371. PBSA Paramita Bangun Sarana Tbk. 1.261 1.174
372. PDES Destinasi Tirta Nusantara Tbk. 0.886 0.924
373. PEGE Panca Global Securities Tbk. 0.736 0.824
374. PEHA Phapros Tbk. 0.755 0.836
375. PGAS PT Perusahaan Gas Negara Tbk. 1.405 1.270
376. PGJO Tourindo Guide Indonesia Tbk. 0.693 0.795
377. PGLI Pembangunan Graha Lestari Indah Tbk. 0.371 0.580
378. PGUN Pradiksi Gunatama Tbk. 0.685 0.790
379. PICO Pelangi Indah Canindo Tbk. 0.942 0.961
380. PJAA Pembangunan Jaya Ancol Tbk. 0.568 0.712
381. PKPK Perdana Karya Perkasa Tbk. 1.230 1.154
382. PLAN Planet Properindo Jaya Tbk. 0.702 0.801
383. PLIN Plaza Indonesia Realty Tbk. 0.289 0.526
384. PMJS Putra Mandiri Jembar Tbk. 0.891 0.927
385. PNBN Bank Pan Indonesia Tbk. 1.287 1.191
386. PNBS Bank Panin Syariah Tbk. 0.434 0.623
387. PNGO Pinago Utama Tbk. 0.506 0.671
388. PNIN Panin Insurance Tbk. 0.917 0.945
389. PNLF Panin Financial Tbk. 0.757 0.838
390. PNSE Pudjiadi & Sons Tbk. 1.549 1.366
391. POLA Pool Advista Finance Tbk. 0.719 0.812
392. POLL Pollux Properti Indonesia Tbk. 2.028 1.685
393. POLU Golden Flower Tbk. 0.434 0.623
394. POLY Asia Pacific Fibers Tbk. 0.878 0.919
395. POOL Pool Advista Indonesia Tbk. 0.324 0.549
396. PORT Nusantara Pelabuhan Handal Tbk. 0.902 0.935
397. POSA Bliss Properti Indonesia Tbk. 0.165 0.443
398. POWR Cikarang Listrindo Tbk. 0.431 0.621
399. PPGL Prima Globalindo Logistik Tbk. 0.139 0.426
400. PPRE PP Presisi Tbk. 1.345 1.230

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 PEFINDO BETA STOCK
Edition: 07-December-2023

No. TICKER COMPANY RAW BETA ADJUSTED BETA

401. PPRO PP Properti Tbk. 0.249 0.499
402. PRAS Prima Alloy Steel Universal Tbk. 0.610 0.740
403. PSAB J Resources Asia Pasifik Tbk. 0.919 0.946
404. PSDN Prasidha Aneka Niaga Tbk. 0.772 0.848
405. PSGO Palma Serasih Tbk. 1.302 1.202
406. PSKT Pusako Tarinka Tbk. 1.565 1.376
407. PSSI Pelita Samudera Shipping Tbk. 0.218 0.478
408. PTBA Tambang Batubara Bukit Asam (Persero) Tbk. 0.972 0.981
409. PTPP PP (Persero) Tbk. 2.135 1.757
410. PTPW Pratama Widya Tbk. 0.737 0.825
411. PTRO Petrosea Tbk. 0.383 0.589
412. PTSN Sat Nusapersada Tbk. 0.210 0.473
413. PTSP Pioneerindo Gourmet International Tbk. 1.495 1.330
414. PUDP Pudjiadi Prestige Tbk. 1.519 1.346
415. PURE Trinitan Metals and Minerals Tbk. 0.314 0.543
416. PURI Puri Global Sukses Tbk. 0.809 0.873
417. PWON Pakuwon Jati Tbk. 1.154 1.103
418. PYFA Pyridam Farma Tbk. 0.241 0.494
419. PZZA Sarimelati Kencana Tbk. 0.454 0.636
420. RAJA Rukun Raharja Tbk. 0.872 0.915
421. RALS Ramayana Lestari Sentosa Tbk. 1.033 1.022
422. RANC Supra Boga Lestari Tbk. 1.029 1.019
423. RIGS Rig Tenders Indonesia Tbk. 0.296 0.531
424. RIMO Rimo International Lestari Tbk. 0.047 0.365
425. RMBA Bentoel Internasional Investama Tbk. 0.143 0.429
426. ROCK Rockfields Properti Indonesia Tbk. 0.440 0.626
427. RODA Pikko Land Development Tbk. 0.015 0.343
428. RONY Aesler Grup Internasional Tbk. 0.047 0.365
429. ROTI Nippon Indosari Corpindo Tbk. 0.137 0.424
430. RUIS Radiant Utama Interinsco Tbk. 0.175 0.450
431. SAFE Steady Safe Tbk. 0.643 0.762
432. SAME Sarana Meditama Metropolitan Tbk. 0.564 0.709
433. SAPX Satria Antaran Prima Tbk. 0.334 0.556
434. SBAT Sejahtera Bintang Abadi Textile Tbk. 0.705 0.803
435. SCCO Supreme Cable Manufacturing & Commerce Tbk. 0.002 0.334
436. SCMA Surya Citra Media Tbk. 1.109 1.072
437. SCNP Selaras Citra Nusantara Perkasa Tbk. 0.179 0.453
438. SDMU Sidomulyo Selaras Tbk. 0.620 0.746
439. SDPC Millennium Pharmacon International Tbk. 0.043 0.362
440. SDRA Bank Woori Saudara Indonesia 1906 Tbk. 0.434 0.623

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 PEFINDO BETA STOCK
Edition: 07-December-2023

No. TICKER COMPANY RAW BETA ADJUSTED BETA

441. SFAN Surya Fajar Capital Tbk. 0.239 0.493
442. SGER Sumber Global Energy Tbk. 2.703 2.135
443. SGRO Sampoerna Agro Tbk. 0.931 0.954
444. SHID Hotel Sahid Jaya International Tbk. 1.410 1.274
445. SIDO Industri Jamu dan Farmasi Sido Muncul Tbk. 0.085 0.390
446. SILO Siloam International Hospitals Tbk. 0.017 0.345
447. SIMA Siwani Makmur Tbk. 0.459 0.639
448. SIMP Salim Ivomas Pratama Tbk. 0.867 0.911
449. SKBM Sekar Bumi Tbk. 0.871 0.914
450. SKRN Superkrane Mitra Utama Tbk. 0.304 0.536
451. SKYB Skybee Tbk. 0.036 0.358
452. SMAR Smart Tbk. 0.545 0.697
453. SMBR Semen Baturaja (Persero) Tbk. 1.629 1.419
454. SMCB Holcim Indonesia Tbk. 0.307 0.538
455. SMDM Suryamas Dutamakmur Tbk. 0.434 0.622
456. SMDR Samudera Indonesia Tbk. 0.893 0.928
457. SMGR Semen Indonesia (Persero) Tbk. 0.677 0.785
458. SMKL Satyamitra Kemas Lestari Tbk. 0.090 0.393
459. SMMT Golden Eagle Energy Tbk. 1.847 1.565
460. SMRA Summarecon Agung Tbk. 0.699 0.799
461. SMRU SMR Utama Tbk. 0.310 0.540
462. SMSM Selamat Sempurna Tbk. 0.361 0.574
463. SOCI Soechi Lines Tbk. 0.967 0.978
464. SOFA Boston Furniture Industries Tbk. 1.430 1.286
465. SOSS Shield On Service Tbk. 0.514 0.676
466. SOTS Satria Mega Kencana Tbk. 1.266 1.177
467. SPTO Surya Pertiwi Tbk. 0.544 0.696
468. SQMI Renuka Coalindo Tbk. 1.288 1.192
469. SRAJ Sejahteraraya Anugrahjaya Tbk. 0.332 0.555
470. SRIL Sri Rejeki Isman Tbk. 0.308 0.538
471. SRSN Indo Acidatama Tbk. 0.062 0.374
472. SRTG Saratoga Investama Sedaya Tbk. 2.220 1.814
473. SSIA Surya Semesta Internusa Tbk. 0.573 0.715
474. SSMS Sawit Sumbermas Sarana Tbk. 1.300 1.200
475. SSTM Sunson Textile Manufacture Tbk. 0.611 0.741
476. STTP Siantar Top Tbk. 0.359 0.573
477. SUPR Solusi Tunas Pratama Tbk. 1.279 1.186
478. SWAT Sriwahana Adityakarta Tbk. 1.361 1.241
479. TALF Tunas Alfin Tbk. 0.143 0.429
480. TAMA Lancartama Sejati Tbk. 0.575 0.717

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 PEFINDO BETA STOCK
Edition: 07-December-2023

No. TICKER COMPANY RAW BETA ADJUSTED BETA

481. TBIG Tower Bersama Infrastructure Tbk. 0.086 0.390
482. TBLA Tunas Baru Lampung Tbk. 0.794 0.863
483. TCID Mandom Indonesia Tbk. 0.266 0.510
484. TCPI Transcoal Pacific Tbk. 0.649 0.766
485. TDPM Tridomain Performance Materials Tbk. 0.101 0.401
486. TEBE Dana Brata Luhur Tbk. 1.011 1.007
487. TELE Tiphone Mobile Indonesia Tbk. 0.479 0.653
488. TFCO Tifico Fiber Indonesia Tbk. 0.253 0.502
489. TGRA Terregra Asia Energy Tbk. 1.600 1.400
490. TINS Timah (Persero) Tbk. 2.359 1.906
491. TIRA Tira Austenite Tbk. 0.194 0.463
492. TIRT Tirta Mahakam Resources Tbk. 1.050 1.034
493. TKIM Pabrik Kertas Tjiwi Kimia Tbk. 1.512 1.341
494. TLKM Telekomunikasi Indonesia (Persero) Tbk. 0.849 0.899
495. TMPO Tempo Intimedia Tbk. 0.300 0.533
496. TNCA Trimuda Nuansa Citra Tbk. 0.960 0.974
497. TOBA Toba Bara Sejahtra Tbk. 1.285 1.190
498. TOTL Total Bangun Persada Tbk. 0.690 0.793
499. TOTO Surya Toto Indonesia Tbk. 0.436 0.624
500. TOWR Sarana Menara Nusantara Tbk. 0.013 0.342
501. TPIA Chandra Asri Petrochemical Tbk. 0.867 0.911
502. TPMA Trans Power Marine Tbk. 1.186 1.124
503. TRIM Trimegah Securities Tbk. 1.705 1.470
504. TRIN Perintis Triniti Properti Tbk. 1.443 1.295
505. TRIO Trikomsel Oke Tbk. 0.854 0.903
506. TRJA Transkon Jaya Tbk. 0.753 0.835
507. TRST Trias Sentosa Tbk. 0.324 0.549
508. TRUK Guna Timur Raya Tbk. 1.405 1.270
509. TRUS Trust Finance Indonesia Tbk. 0.670 0.780
510. TSPC Tempo Scan Pacific Tbk. 0.364 0.576
511. TUGU Asuransi Tugu Pratama Indonesia Tbk. 1.286 1.191
512. UCID Uni-Charm Indonesia Tbk. 0.255 0.503
513. ULTJ Ultra Jaya Milk Industry & Trading Company, Tbk. 0.099 0.399
514. UNIC Unggul Indah Cahaya Tbk. 0.055 0.370
515. UNIT Nusantara Inti Corpora Tbk. 0.651 0.767
516. UNSP Bakrie Sumatra Plantations Tbk. 1.072 1.048
517. UNTR United Tractors Tbk. 1.273 1.182
518. URBN Urban Jakarta Propertindo Tbk. 0.358 0.572
519. VICO Victoria Investama Tbk. 0.109 0.406
520. VRNA Verena Multi Finance Tbk. 0.564 0.709

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 PEFINDO BETA STOCK
Edition: 07-December-2023

No. TICKER COMPANY RAW BETA ADJUSTED BETA

521. WEGE Wijaya Karya Bangunan Gedung Tbk. 1.200 1.133
522. WEHA WEHA Transportasi Indonesia Tbk. 0.392 0.595
523. WIIM Wismilak Inti Makmur Tbk. 0.313 0.542
524. WIKA Wijaya Karya (Persero) Tbk. 1.672 1.448
525. WINS Wintermar Offshore Marine Tbk. 1.019 1.013
526. WOMF Wahana Ottomitra Multiartha Tbk. 0.820 0.880
527. WOOD Integra Indocabinet Tbk. 0.729 0.819
528. WSBP Waskita Beton Precast Tbk. 0.840 0.893
529. WSKT Waskita Karya (Persero) Tbk. 2.161 1.774
530. WTON Wijaya Karya Beton Tbk. 1.476 1.317
531. YELO Yelooo Integra Datanet Tbk. 2.138 1.759
532. YPAS Yanaprima Hastapersada Tbk. 1.752 1.501
533. YULE Yulie Sekurindo Tbk. 0.730 0.820
534. ZONE Mega Perintis Tbk. 0.179 0.453

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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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