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TRIM DAILY

PT Trimegah Securities Tbk - www.trimegah.com 1


We continue to suggest buy on weakness on the market as we expect the equity
market to be in a lull this week, waiting for next weeks formal announcement of
the new president from KPU commission election!" We highlight continued inter#
est in oil and gas ser$ices last week w% &'() up *"+, and W-.( up 1/," 0ow#
e$er, '&)1 2uy, 3P /*44! was only up by 5," 631, '&)1 still lags &'() by 77,
and W-.( by 71," '&)1 trades at 18x 8417P& and 9"+x 841+P&, lower than
W-.( 17x 8417P&, 18x 841+P& and &'()s 1/x 8417P&, 17x 841+P&" -n addi#
tion, there are also news on construction sector: P3PP 5+, of ;68417, W(K3
5<, of ;68417 $s" last year P3PP achie$ed 7<,, W(K3 7/, of ;6 target at end
of 10" =ther construction companies ha$e not announced their 10 contract
achie$ements"
3>-? 1aily

3>-? 0ighlights
Jul 14, 2014
@akarta Aomposite -ndex @A-! down by /+"7 points or 1"8<, to +458"/ yester#
day" -ndex mo$ers were mostly dri$en by misc industry sector #8"9*,!, mining
sector #1"94,! and consumer (ector #1"<<,!" 3otal transaction $alue was
>p*"9tr with regular market transaction of >p+"4tr" -1B recorded >p895<bn net
buy by foreign in$estors" @A- today is expected to continue its weakening trend
and trade in 79<4#+4+/ range"
?arket Ciew
Derman AP- rose 4"5, ?o? in @une $s ?ay17: #4"1, ?o?!, in line with market
consensus and preliminary estimate" =n yearly basis, Derman AP- rose by 1"4,
6o6 in @une from 4"9, 6o6 in prior month, in line with market consensus and
preliminary estimate"
Dlobal Wrap
@A- and 3raders Pick
JCI 5,032.6
Dlobal -ndices
>eksa 1ana 3rimegah
)sset ?anagement
1ual 'isting .6(&!
=thers
U(1! >p! Ahg ,
77"+ 18,<91"* 4"/4 1"7
3'K?
Ahange #1"8<,
3ransaction Colume m! /,887"7
3ransaction Calue >pbn! *,9*7"7
?kt Aap >ptr! 7,9*/"9
?arket P%& x! 17"/
?arket 1i$" 6ield ,! 8"4
Price Ahg ,
1ow @ones 1/,975"< 8<"* 4"8
.asdaq 7,71+"+ 19"5 4"7
.ikkei 1+,1/7"4 #+8"7 #4"5
(3 3imes 5,895"* 87"8 4"*
;3(& /,/94"8 1*"< 4"5
0ang (eng 85,855"+ #+"+ #4"4
.)2 Ahg ,
3rim Kapital <,+<<"8 #15/ #1"+/
3rim Kapital E 5,1/1"+ #+4"+ #1"+*
3rim (yariah (0? 1,/11"< #8/"+ #1"/8
3ram Aonsumption E1,748"9 #88"1 #1"++
3rim Komb 8 1,<94"4 #81"9 #1"1+
3rim (yariah 2 8,8*5"9 #54"* #1"55
3rim 1ana (tabil 8,14<"7 #4"4 #4"44
3rim 1ana 3etap 8 1,/*9"9 4"1 4"41
3ram P1P3 U(1 1"1 #4"4 #4"4+
3ram >eguler -.A 997"* 4"4 4"44
3ram (trategic ;und 1,4*/"/ #5"1 #4"89
3rim Kas 8 1,4<9"* 4"8 4"48
Ahg ,
USD IDR
11,+<< 17 4"1
10 yr Indo Govr bond (%)
<"49 4"1 4"<
10 yr US govt bond (%)
8"+ #4"41 #4"7
Spread (%) +"+/ 4"4< 1"8
EIDO
8<"/ #4"5 #4"9
Foreign YtD (USDmn)
7,/79 8++ +"<
Ticker Last S2 S1 R1 R2 Technical Call
@A- +,455 7,9+7 7,9<4 +4+/ +14+ contF declining
)1>= 1,154 1,4/4 1,4<+ 11++ 1844 2=W
)(-- *,++4 *,58+ *,744 */+4 *<8+ 2=W
22>- 11,+44 11,18+ 11,58+ 11/*+ 11<8+ 2=W
22A) 11,544 14,944 11,48+ 11744 11/+4 2=W
U.3> 85,+44 88,/*+ 88,9+4 859+4 87/*+ 2=W
U.C> 54,744 89,5+4 89,*44 54<44 51++4 2=W
?PP) 8,97+ 8,<+4 8,<<+ 89<+ 54+4 2=W
22.- +,4+4 7,</4 7,98+ +11+ +874 2uy
2.-- 89+ 8<9 895 89< 899 (ell
(?2> 711 5<5 748 789 75* (ell
-.KP 1,5+4 1,51+ 1,574 15<+ 174+ (ell
(?D> 1//+4 1+98+ 1/1*+ 1/*44 1/9*+ (pec 2uy

PT Trimegah Securities Tbk - www.trimegah.com
TRIM DAILY
8
PTPP: New cntract in 1!1" reache# 35$ % &' tar(et
.ew contract secured in 1017 reached >p<"7tr or 5+, of ;6
target" .ew contract is targeted to reach >p87"4tr this year,
up 84,6o6" 3he company allocates 8417 capex amounting
>p774bn" Source: Investor Dai!
Comment:
"e s#oke with Mr. Tumi!ana$ PTPP%s &'($ to cari)! PTPP%s
*+,- target. &urrent!$ PTPP is sti intact with its targets set
at the beginning o) the !ear. Revenues is targete. to reach
R#,/.0tr 12003 YoY4 whie earnings is targete. to reach
R#5*,bn 12*63 YoY4. "e are reviewing our )orecast an.
recommen.ation on PTPP since the shares #rice has exceed#
ed our TP o) R#,6++7sh.

)S*T: New cntract sec+re# in 1!1" reache# 3,$ %
&' tar(et
W(K3 secured new contract in 1017 amounting >p*"1tr or
5<, of ;6 target" W(K3 is targeted 8417 new contract of
>p1<"<tr, grow 78, 6o6" (e$eral new contracts which ha$e
been secured are: 0usein )irport >p18* bn!, (adira PlaGa
>p1+8bn!, the extension of 3erminal 5 at (oekarno 0atta
)irport >p547bn!" Source: Investor Dai!

-PLN: .arketin( sales shrank /22$ '' c01are# t
the sa0e 1eri# last 2ear
)P'. claimed that the companys marketing sales during the
first / months of this year shrank #88, 6o6 compared to the
same period last year" )s of 1H17, )P'. posted marketing
sales of >p8"7*tr, as compared to achie$ing >p5"1<tr last
year" 3o date, )P'. has achie$ed 5<, of their full year
target of >p/"+tr" 3he company claims that the elections are
the main cause for the delay in the property market" 3hat is
why )P'. will only begin to launch two new proIects in the
second half of this year" 3hese proIects include the 0arco
Dlodok shopping center in Dlodok =rchard Park 2atam in
2atam" 2oth proIects contribute 58, and 8/, to marketing
sales respecti$ely" 3he remaining will come from old proIects
such as Podomoro Aity extension, 2orneo 2ay >esidences
and Drand 3aruma" Source: 8ontan
Comment:
"e have a 9(LD on APL: with target #rice 1TP4 o) R#*5+7sh
1,/.;3 .ownsi.e #otentia4. &urrent! the stock is tra.e. at
50./3 Discount to :A< 1vs. #eers average o) 5*.634.

34CL: 351ects t 6enerate 7S8 500 0n %r0 Telec0/
0+nicatin Twer Sales This 'ear
Aurrently ha$ing <444 towers, B' )xiata &BA'! is looking to
sell 8444 towers for U(1 +44mn >p +"<tn! to repay its
debts" )t least, there are 7 listed companies: 32-D, 3=W>,
(UP>, and -2(3, interested in purchasing the towers" -n
/?17 &BA' has acquired loan facilities of U(1 1"8bn, mostly
used to fund the U(1 </+mns acquisition of )xis 3elecom
-ndonesia and the rest for debt refinancing, capex and other
operation acti$ities" 0istorically, 32-D acquired 8+44 towers
.ews of the 1ay
from -ndosat -()3! for U(1 74/mn, while 3=W> acquired
5"/98 towers from 0utchinson AP 3elecommunications 0A-P!
for U(1 +44mn" Source: Investor Dai!
Comment:
Another teecommunication com#an!$ In.osat 1ISAT4$ #ans to
se its towers ne=t !ear. ISAT owns 6+++ towers with ;+++
towers avaiabe )or sae. &urrent!$ ISAT is )ocusing on com-
#eting network mo.erni>ation an. bon. issuance o) ?SD
/5+mn.

.9RN: Plan t ha:e 1ri:ate 1lace0ent %r ;/3le:en
?1>.s &D? appro$ed non#preempti$e right issue plan of
maximum around 71+"<mn of shares 14, of shares issued
and paid#up capital! totaling at least >p8*5"85bn using price
assumption of at least >p/+*per share closing price >p//4%
sh!" -t would dilute the publics ownership to 7+"<*, from
+4"7+," Proceeds would be used for *#&le$en business expan#
sion" 3he &D? also appro$ed pri$ate placement from in$estors
from &ast )sia" ProIected fund needed for expansion until
841+ is >p*44bn using equity, bank loan, and pri$ate place#
ment" 3he pri$ate placements purpose is also to increase the
shares trading liquidity" Source: investor.co.i.

<RN-: <+#(ete# R1.150=n %r ca1e5
2erlina 2>.)! has budgeted >p"1+4bn to increase its produc#
tion capacity" <4, of the fund obtained from loans by =A2A,
0(2A and 2?>- where they also obtained hedging and letter
of credit" <4, of the capex is designed to boost production to
8<,5*+tons from last years 88,*44tons" 3he company has
targeted 8+, increase in sales to >p"1"8 #1"5bn from last
year" 2>.) targets >p"++bn increase in net profit, /94, from
last years net lost" 3he company is optimistic about the target
as 1H17 re$enue had increased 59, 6o6" 3his years re$enue
growth will also be supported by the newly built factory with
capacity of 7<44tons per year operated by 2>.)s subsidiary
.atura Plastindo" Source: In.onesia 'inance To.a!









PT Trimegah Securities Tbk - www.trimegah.com
TRIM DAILY
5
L(in# Sa0+#ra .ak0+r >L3-9? :s. 3LS- an# )INS
.ews of the 1ay
TIC*3R Price >R1? .kt. Ca1 TP 71s. 3PS >4?
3PS 6rwth
>$?
P@3 >4? 9i:. 'iel# >$?
11/J+l >R1=n? Rec 201" >$? 201" 2015 201" 2015 201" 2015 201" 2015
W-.( 1,554

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2uy

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PT Trimegah Securities Tbk - www.trimegah.com
TRIM DAILY
7
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JCI )inners >$? JCI Lsers >$? JCI Bal+e >R10n? JCI Bl+0e >Lt? JCI &reC >Lt?
631 >p! 1*"*7, /,887"7
631 U(1! 8+"<<, *,9*7
?o$ing )$g 84day 7,949"* 7,9*/"9
?o$ing )$g +4day 7,915"7 17"/
?o$ing )$g 844day 7,/41"7 1+"4
In#nesia D Sectrs E@/ >$?'T9 >$?
?(A- -ndonesia +,99/"1 #9*"4 #1"/ 88"8
@-- /*9"9 #15"4 #1"9 1/"8
'H7+ </1"8 #17"7 #1"/ 81"1
@)K;-. -ndex /<8"5 #+"< #4"< 8/"5
@)K-.;> -ndex 1,147"+ #+"+ #4"+ 1<"*
@)K?-.& -ndex 1,7+9"5 #8<"5 #1"9 8"1
@)KA=.( -ndex 8,4+4"8 #59"5 #1"9 1+"4
@)K3>)1 -ndex 945"9 #18"1 #1"5 1/"7
@)K?-.1 -ndex 1,51+"/ #74"5 #5"4 9"8
@)K2-.1 -ndex ++8"/ #1"< #4"5 1+"4
@)KP>=P -ndex 778"< #<"5 #1"< 51"7
@)K)D>- -ndex 8,8*<"* #55"/ #1"+ /"+
C00#ities E@/ >$?'T9 >$?
A>2 -ndex 89*"1 #8"/ #4"<< /"4
Fil D 6as
Arude =il U(1%bbl! 144"< #8"1 #8"47 8"7
.atural Das 7"1 4"4 4"/5 #8"4
A=)' )ustralia,wk! *4"8 4"4 4"44 #1*"4
A=)' )U( 1aily! /9"8 #4"8 #4"89 #84"*
In#+strial .etals
)lumunium U(1%tonne! 1,95/"4 19"< 1"45 9"9
.ickel U(1%tonne! 19,5<4 154 4"/< 59"7
3in U(1%tonne! 88,144 +4"4 4"85 #1"1
Preci+s .etal
Dold U(1%t oG"! 1,55*"7 #1"< #4"15 11"8
(il$er U(1%t oG"! 81"+ #4"4 #4"88 11"4
S%t C00#ities
AP= ?alaysia # >m%tonne! 8,5** #74"4 #1"/+ #9"/
>ubber @P6%kg! 1,947 #4"8 #4"41 #8<"7
Aorn U(1%bu"! 5*< #<"4 #8"4* #14"7
Wheat U(1%bu"! +8/ #88"+ #7"14 #15"1
(oybeans U(1%bu"! 1,19/ #5*"4 #5"44 #<"9
>ice -ndonesia! >p%kg! <,/44 4"4 4"44 4"4
Colume m!
.ilai >pbn!
?kt Aap >ptr!
?arket P%& x!
?arket 1i$" 6ield ,!
AP= ?alaysia # >m%tonne!
In#ices Re(in E@/ >$?
YTD ( %)
?BW= ?(A- Word 1,*5/"4 1"+8 4"49 7"+1
(PB (JP +44 1,9/*"/ 8"<9 4"1+ /"7+
7S
1/,975"< 8<"* 4"1* 8"81
.asdaq U( 7,71+"+ 19"89 4"77 +"*8
3+r1e
&U>= +4 &urope 55/"9 4"+7 4"1/ 8"/7
;3(& 'ondon /,/94"8 1*"<4 4"8* #4"<*
1)B @erman 9,///"5 *"8 4"4* 1"84
A)A ;rance 7,51/"+ 1+"87 4"5+ 4"7<
(?- (wiss <,7/<"+ #+"*1 #4"4* 5"87
<RIC
2=C&(P) 2raGil +7,*<+"9 195"8 4"5+ /"5*
?-A&B >ussia 1,799"< 7"94 4"55 #4"87
(&.(&B -ndia 8+,487"7 #57<"7 #1"5* 1<"5*
.-;36 -ndia *,7+9"/ #14<"8 #1"75 1<"5<
(0A=?P Ahina 8,47*"4 <"/8 4"78 #5"8/
(KA=?P Ahina 1,14*"< /"9+ 4"/5 7"*7
.ikkei @apan 1+,1/7"4 #+8"7 #4"57 #/"98
3PB @apan 1,8++"8 #7"4/ #4"58 #5"/8
0(- 0ong kong 85,855"+ #+"+ #4"48 #4"51
K=(P- ("Korea 1,9<<"* #17"14 #4"*4 #1"18
3)-&B 3aiwan 9,79+"< #/9"8< #4"*8 14"8*
;((3- (ingapore 5,895"* 87"85 4"*7 5"99
-S3-N
(&3 3hailand 1,+1<"4 4"44 4"44 1/"<9
PA=?P Philipines /,941"1 #5/"1 #4"+8 1*"1*
K'A- ?alaysia 1,<<5"8 #9"7* #4"+4 4"<*
C.-.1&B Cietnam +<8"< #8"11 #4"5/ 1+"7<
9e:el1e# -SI-
1ow @ones -ndustrial
*+rs Re(in E@/ >$?
YTD ( %)
U(1&U> &uro 4"*5+ 4"444 4"41 1"11
U(1D2P UK 4"+<7 4"441 4"18 #5"1<
U(1A0; (witGerland 4"<98 #4"444 #4"41 4"4*
U(1A)1 Aanada 1"4*5 4"44< 4"*9 4"<+
U(1)U1 )ustralia 1"4/+ 4"444 4"47 #+"5<
U(1.K1 .ew Kealand 1"15+ 4"441 4"14 #*"44
U(1@P6 @apan 141"54 #4"474 #4"47 #5"*+
U(1A.6 Ahina /"84 4"44 4"45 8"7+
U(10K1 0ongkong *"*+4 4"444 4"44 #4"4+
U(1(D1 (ingapore 1"871 #4"441 #4"4+ #1"*7
>upiah -ndonesia 11,+<< 17"44 4"18 #7"*9
JCI 5,032.6 >65."? /1.3$

PT Trimegah Securities Tbk - www.trimegah.com
TRIM DAILY
+
World &conomic Aalendar
9ate Ti0e C+ntr2 3:ent Peri# S+r:e2 -ct+al Prir
7#@ul#17 &A ?arkit &uroGone >etail P?- @un ## +4"4 79"9
D& ;actory =rders ?o? ,! ?ay #1"1 #1"* 5"7
*#@ul#17 -1 ;oreign >eser$es U(1 bn! @un ## 14*"* 14*"4
D& -ndustrial Production () ?o? ,! ?ay 4"4 #1"< #4"5
<#@ul#17 U( .;-2 (mall 2usiness =ptimism @un 9*"4 9+"4 9/"/
U( @='3s @ob =penings ?ay 7744 7/5+ 77/7
@. 2oP Aurrent )ccount 2alance @P6 bn! ?ay 71*"+ +88"< 1<*"7
9#@ul#17 U( ;ed >eleases ?inutes from @une 1*#1< ;=?A ?eeting
A0 PP- 6o6 ,! @un #1"4 #1"1 #1"7
A0 AP- 6o6 ,! @un 8"7 8"5 8"+
14#@ul#17 -1 2ank -ndonesia >eference >ate ,! 14#@ul *"+4 *"+4 *"+4
U( -nitial @obless Alaims 444Fs! +#@ul 51+ 547 51+
U( Wholesale -n$entories ?o? ,! ?ay 4"/ 4"+ 1"4
A0 3rade 2alance U(1 bn! @un 5/"9+ 51"+/ 5+"98
A0 &xports 6o6 ,! @un 14"7 *"8 *"4
A0 -mports 6o6 ,! @un /"4 +"+ #1"/
@. ?achine =rders ?o? ,! ?ay 4"* #19"+ #9"1
11#@ul#17 D& AP- ?o? ,! @un ; 4"5 4"5 4"5
D& AP- 6o6 ,! @un ; 1"4 1"4 1"4
17#@ul#17 &A -ndustrial Production () ?o? ,! ?ay ## ## 4"<
&A -ndustrial Production W1) 6o6 ,! ?ay ## ## 1"7
@. -ndustrial Production ?o? ,! ?ay ; ## ## 4"+
@. -ndustrial Production 6o6 ,! ?ay ; ## ## 4"<
1+#@ul#17 U( >etail (ales )d$ance ?o? ,! @un 4"/ ## 4"5
U( &mpire ?anufacturing @ul 1*"8+ ## 19"8<
&A K&W (ur$ey &xpectations @ul ## ## +<"7
D& K&W (ur$ey Aurrent (ituation @ul ## ## /*"*
D& K&W (ur$ey &xpectations @ul ## ## 89"<
1/#@ul#17 U( PP- ;inal 1emand ?o? ,! @un 4"8 ## #4"8
U( PP- ;inal 1emand 6o6 ,! @un ## ## 8"4
U( -ndustrial Production ?o? ,! @un 4"5 ## 4"/
A0 D1P 6o6 ,! 8H *"7 ## *"7
1*#@ul#17 U( 0ousing (tarts 444Fs! @un 1484 ## 1441
U( 2uilding Permits 444Fs! @un 147< ## 991
1<#@ul#17 U( Uni$" of ?ichigan Aonfidence @ul P <5"+ ## <8"+
U( 'eading -ndex ,! @un 4"+ ## 4"+
81#@ul#17 U( Ahicago ;ed .at )cti$ity -ndex @un ## ## 4"81
D& PP- ?o? ,! @un ## ## #4"8
D& PP- 6o6 ,! @un ## ## #4"<
88#@ul#17 U( AP- ?o? ,! @un ## ## 4"7
U( AP- 6o6 ,! @un ## ## 8"1
U( AP- &x ;ood and &nergy 6o6 ,! @un ## ## 8"4
U( &xisting 0ome (ales mn! @un ## ## 7"<9

PT Trimegah Securities Tbk - www.trimegah.com
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/
Stock (Rp) Cum Date Recording Date Distribuon Date
3>(3 + <#@ul#17 17#@ul#17 47#)ug#17
K2'- 7 14#@ul#17 1+#@ul#17 8+#@ul#17
?KP- 84+ 14#@ul#17 1+#@ul#17 4+#)ug#17
-A2P 194 14#@ul#17 1+#@ul#17 4+#)ug#17
16). 5 17#@ul#17 1*#@ul#17 4/#)ug#17
-.1; 178 1+#@ul#17 1<#@ul#17 4<#)ug#17
A'P- U(14"441< 1*#@ul#17 88#@ul#17 18#)ug#17
)'1= 1"+ 1*#@ul#17 88#@ul#17 18#)ug#17
P&D& 14 88#@ul#17 8+#@ul#17 1+#)ug#17
3(PA *+ 87#@ul#17 4+#)ug#17 19#)ug#17
2;-. 188"81 87#@ul#17 4+#)ug#17 19#)ug#17
?)() 1 8+#@ul#17 4/#)ug#17 84#)ug#17
1P.( 84 47#)UD#8417 4*#)ug#17 81#)ug#17
?1>. 8 47#)UD#8417 4*#)ug#17 81#)ug#17
D&?) * 47#)UD#8417 4*#)ug#17 81#)ug#17
&3W) 1"/8 47#)UD#8417 4*#)ug#17 81#)ug#17
'-=. 744 4/#)UD#8417 11#)ug#17 8+#)ug#17
1)>3 8< 4/#)UD#8417 11#)ug#17 8+#)ug#17
'?(0 844 4/#)UD#8417 11#)ug#17 8+#)ug#17
(?)> + 4<#)UD#8417 15#)ug#17 8*#)ug#17
1D-K 8"+ 18#)UD#8417 1+#)ug#17 88#)ug#17
>U-( *"+ 18#)UD#8417 1+#)ug#17 89#)ug#17
K-)( 1"+1 18#)UD#8417 1+#)ug#17 89#)ug#17
@)W) 1"< 89#)UD#8417 5#(ep#17 1*#(ep#17
.&'6 7 1#(ep#17 7#(ep#17 1<#(ep#17
9i:i#en#
Aorporate )ction

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*
C#e
Price
35ercise
.at+rit2 30iten 9escri1tin
A;-.#W 7+4 /#=ct#17 Alipan ;inance -ndonesia W)>). A'-P). ;-.).A& -.1=.&(-) (&>- C
)?)D#W 1*+ 9#=ct#17 )suransi ?ulti )rtha Duna W)>). (&>- -- )(U>).(- ?U'3- )>30) DU.)
P.';#W 154 *#.o$#17 Panin ;inancial W)>). (&>- C P).-. ;-.).A-)'
'ADP#W 4 14#.o$#17 &ureka Prima @akarta W)>). (&>- - &U>&K) P>-?) @)K)>3)
1K;3#W 8+4 +#1ec#17 Aentral =mega >esources W)>). (&>- - A&.3>)' =?&D) >&(=U>A&(
2&(3#W 844 14#)pr#1+ 2ekasi ;aIar -ndustrial &state W)>). (&>- - 2&K)(- ;)@)> -.1U(3>-)' &(3)3&
-.C(#W 1/+ <#?ay#1+ -no$isi -nfracom W)>). (&>- - -.=C-(- -.;>)A=?
(UD-#W 144 81#?ay#1+ (ugih &nergy W)>). (&>- -- (UD-0 &.&>D6
?A=>#W 844 14#@ul#1+ 2ank Windu KentIana -nternational W)>). (&>- - 2).K W-.1U K&.3@).) -.3&>.)3-=.)'
D)?)#W 14+ 1/#@ul#1+ Dading 1e$elopment W)>). (&>- - D)1-.D 1&C&'=P?&.3
(UP>#W 7<44 8<#)ug#1+ (olusi 3unas Pratama W)>). (&>- - (='U(- 3U.)( P>)3)?)
.->=#W 114 11#(ep#1+ .ir$ana 1e$elopment W)>). (&>- - .->C).) 1&C&'=P?&.3
2(-?#W 179 11#1ec#1+ 2ank (inar ?as W)>). (&>- - 2).K (-.)> ?)(
)arrant
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