Online Trading RHB Sekuritas Indonesia
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Tetaplah terhubung dengan RHBTradeSmartID & bergabung menjadi member Channel Telegram Online Trading RHB Sekuritas Indonesia untuk mendapatkan information terkini mengenai kondisi market dan saham-saham pilihan terbaik dari tim research kami
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Dear Valued Stakeholders,

Please be advised that our office will be relocated to:


REVENUE TOWER 10-11TH FLOOR
DISTRICT 8, SCBD LOT 13
JL. JENDRAL SUDIRMAN KAV. 52-53
JAKARTA, 12190

Kindly note that effective October 14, 2019 our phone numbers will be changed to 021-50939888 (Hunting RHB SI) and 021-50939700 (Support OLT)

Thank you for your continued support!
PT. RHB Sekuritas Indonesia
🇲🇨 Indonesia - *[Strategy]*: *Jokowi’s Second Term Inauguration*

Andrey WIJAYA, Michael SETJOADI - RHB Sekuritas

Link to report: https://bit.ly/2J9adrr

♦️ *Maintain JCI 12-month 7,000 target, 13% upside*. We believe President Joko Widodo (Jokowi) and Vice President Ma’ruf Amin’s inauguration *should end the political overhang*.

♦️Jokowi emphasised the national target to reach *developed country status by 2045*, becoming the world’s fifth-largest country with *GDP per capita of IDR320m (USD22,000)* and *gross domestic product of USD7trn*.

♦️ The Government’s *focus over the next five years*:
_1) Human capital_
_2) Infrastructure_
_3) Policy simplification_
_4) Bureaucracy simplification_
_5) Economic transformation)_

♦️ In line with our 18 Oct 2019 *note on the 2020 State Budget*. We are positive that the Government’s next 5-year programmes should achieve their targets. Moreover, *the development of massive infrastructure will continue*, which should create a multiplier impact to industry and tourism development.
Sri Mulyani retains her position as Finance Minister. Negative for cigarette sector as excise tax hike could continue to be aggressive.
Michael W Setjoadi - RHB Sekuritas Indonesia

Maintain Underweight on the sector. Neutral on both GGRM and HMSP.