PEFINDO BETA STOCK

Edition: 21-August-2020

No. TICKER COMPANY RAW BETA ADJUSTED BETA

1. AALI Astra Agro Lestari Tbk. 1.722 1.481
2. ABBA Mahaka Media Tbk. 0.502 0.668
3. ABDA Asuransi Bina Dana Arta Tbk. 0.323 0.549
4. ABMM ABM Investama Tbk. 0.081 0.387
5. ACES Ace Hardware Indonesia Tbk. 1.027 1.018
6. ACST Acset Indonusa Tbk. 1.984 1.656
7. ADES Akasha Wira International Tbk. 0.776 0.850
8. ADHI Adhi Karya (Persero) Tbk. 2.000 1.667
9. ADMF Adira Dinamika Multi Finance Tbk. 0.907 0.938
10. ADMG Polychem Indonesia Tbk. 1.487 1.325
11. ADRO Adaro Energy Tbk. 1.261 1.174
12. AGII Aneka Gas Industri Tbk. 0.972 0.981
13. AGRO Bank Rakyat Indonesia Agroniaga Tbk. 1.841 1.561
14. AGRS Bank Agris Tbk. 0.583 0.722
15. AHAP Asuransi Harta Aman Pratama Tbk. 0.080 0.386
16. AIMS Akbar Indo Makmur Stimec Tbk. 0.112 0.408
17. AKKU Alam Karya Unggul Tbk. 0.132 0.421
18. AKPI Argha Karya Prima Industry Tbk. 0.522 0.682
19. AKRA AKR Corporindo Tbk. 1.522 1.348
20. AKSI Majapahit Inti Corpora Tbk. 1.650 1.433
21. ALDO Alkindo Naratama Tbk. 0.180 0.453
22. ALKA Alakasa Industrindo Tbk. 0.248 0.499
23. ALMI Alumindo Light Metal Industry Tbk. 1.057 1.038
24. ALTO Tri Banyan Tirta Tbk. 0.000 0.334
25. AMFG Asahimas Flat Glass Tbk. 0.534 0.690
26. AMIN Ateliers Mecaniques D Indonesie Tbk. 0.323 0.549
27. AMRT Sumber Alfaria Trijaya Tbk. 0.327 0.552
28. ANJT Austindo Nusantara Jaya Tbk. 0.583 0.722
29. ANTM Aneka Tambang (Persero) Tbk. 1.893 1.595
30. APEX Apexindo Pratama Duta Tbk. 0.138 0.426
31. APIC Pacific Strategic Financial Tbk. 0.223 0.482
32. APLI Asiaplast Industries Tbk. 0.552 0.701
33. APLN Agung Podomoro Land Tbk. 1.603 1.402
34. ARGO Argo Pantes Tbk. 0.326 0.551
35. ARII Atlas Resources Tbk. 0.512 0.675
36. ARNA Arwana Citramulia Tbk. 0.557 0.705
37. ARTA Arthavest Tbk. 1.070 1.047
38. ASBI Asuransi Bintang Tbk. 0.216 0.477
39. ASDM Asuransi Dayin Mitra Tbk. 0.087 0.392
40. ASGR Astra Graphia Tbk. 0.631 0.754

Page 1 of 13
 PEFINDO BETA STOCK
Edition: 21-August-2020

No. TICKER COMPANY RAW BETA ADJUSTED BETA

41. ASII Astra International Tbk. 1.490 1.327
42. ASJT Asuransi Jasa Tania Tbk. 0.706 0.804
43. ASMI Asuransi Mitra Maparya Tbk. 0.397 0.598
44. ASRI Alam Sutera Realty Tbk. 1.558 1.372
45. ASRM Asuransi Ramayana Tbk. 0.218 0.479
46. ASSA Adi Sarana Armada Tbk. 1.690 1.460
47. AUTO Astra Otoparts Tbk. 1.052 1.035
48. BABP Bank MNC Internasional Tbk. 0.110 0.407
49. BAJA Saranacentral Bajatama Tbk. 0.550 0.700
50. BALI Bali Towerindo Sentra Tbk. 0.420 0.613
51. BAPA Bekasi Asri Pemula Tbk. 0.212 0.475
52. BATA Sepatu Bata Tbk. 0.066 0.377
53. BBCA Bank Central Asia Tbk. 0.899 0.933
54. BBHI Bank Harda Internasional Tbk. 1.182 1.122
55. BBKP Bank Bukopin Tbk. 1.885 1.590
56. BBMD Bank Mestika Dharma Tbk. 0.916 0.944
57. BBNI Bank Negara Indonesia (Persero) Tbk. 1.856 1.571
58. BBRI Bank Rakyat Indonesia (Persero) Tbk. 1.497 1.331
59. BBRM Pelayaran Nasional Bina Buana Raya Tbk. 0.094 0.396
60. BBTN Bank Tabungan Negara (Persero) Tbk. 1.924 1.616
61. BBYB Bank Yudha Bhakti Tbk. 0.359 0.573
62. BCIC Bank JTrust Indonesia Tbk. 0.178 0.452
63. BCIP Bumi Citra Permai Tbk. 0.343 0.562
64. BDMN Bank Danamon Indonesia Tbk. 1.775 1.516
65. BEST Bekasi Fajar Industrial Estate Tbk. 1.816 1.544
66. BFIN BFI Finance Indonesia Tbk. 1.199 1.133
67. BGTG Bank Ganesha Tbk. 0.654 0.769
68. BHIT MNC Investama Tbk. 0.749 0.832
69. BIKA Binakarya Jaya Abadi Tbk. 0.124 0.416
70. BIMA Primarindo Asia Infrastructure Tbk. 0.054 0.370
71. BINA Bank Ina Perdana Tbk. 0.193 0.462
72. BIPI Benakat Petroleum Energy Tbk. 0.342 0.561
73. BIPP Bhuwanatala Indah Permai Tbk. 0.134 0.423
74. BIRD Blue Bird Tbk. 1.461 1.307
75. BISI BISI International Tbk. 0.977 0.985
76. BJBR Bank Pembangunan Daerah Jawa Barat dan Bante 1.107 1.071
77. BJTM Bank Pembangunan Daerah Jawa Timur Tbk. 1.066 1.044
78. BKDP Bukit Darmo Property Tbk. 0.300 0.534
79. BKSL Sentul City Tbk. 0.827 0.885
80. BKSW Bank QNB Indonesia Tbk. 0.416 0.611

Page 2 of 13
 PEFINDO BETA STOCK
Edition: 21-August-2020

No. TICKER COMPANY RAW BETA ADJUSTED BETA

81. BLTZ Graha Layar Prima Tbk. 0.104 0.402
82. BMAS Bank Maspion Indonesia Tbk. 0.378 0.585
83. BMRI Bank Mandiri (Persero) Tbk. 1.553 1.369
84. BMSR Bintang Mitra Semestaraya Tbk. 0.799 0.866
85. BMTR Global Mediacom Tbk. 1.592 1.395
86. BNBA Bank Bumi Arta Tbk. 0.505 0.670
87. BNBR Bakrie & Brothers Tbk. 0.086 0.391
88. BNGA Bank CIMB Niaga Tbk. 1.384 1.256
89. BNII Bank Maybank Indonesia Tbk. 1.181 1.120
90. BNLI Bank Permata Tbk. 0.953 0.968
91. BOLT Garuda Metalindo Tbk. 0.428 0.619
92. BPFI Batavia Prosperindo Finance Tbk. 0.747 0.831
93. BPII Batavia Prosperindo Internasional Tbk. 0.104 0.403
94. BRAM Indo Kordsa Tbk. 1.083 1.055
95. BRMS Bumi Resources Minerals Tbk. 0.382 0.588
96. BRNA Berlina Tbk. 0.261 0.507
97. BRPT Barito Pacific Tbk. 1.772 1.515
98. BSDE Bumi Serpong Damai Tbk. 1.489 1.326
99. BSIM Bank Sinarmas Tbk. 0.177 0.451
100. BSSR Baramulti Suksessarana Tbk. 0.192 0.461
101. BTEK Bumi Teknokultura Unggul Tbk. 0.321 0.548
102. BTON Betonjaya Manunggal Tbk. 1.308 1.205
103. BTPN Bank Tabungan Pensiunan Nasional Tbk. 1.096 1.064
104. BUDI Budi Starch & Sweetener Tbk. 0.499 0.666
105. BUKK Bukaka Teknik Utama Tbk. 0.144 0.429
106. BULL Buana Listya Tama Tbk. 0.855 0.903
107. BUMI Bumi Resources Tbk. 0.731 0.820
108. BUVA Bukit Uluwatu Villa Tbk. 0.519 0.680
109. BVIC Bank Victoria International Tbk. 0.304 0.536
110. BWPT Eagle High Plantations Tbk. 1.802 1.535
111. BYAN Bayan Resources Tbk. 0.168 0.446
112. CARS Industri dan Perdagangan Bintraco Dharma Tbk. 0.940 0.960
113. CASA Capital Financial Indonesia Tbk. 0.408 0.606
114. CEKA Wilmar Cahaya Indonesia Tbk. 0.845 0.897
115. CENT Centrin Online Tbk. 1.160 1.107
116. CFIN Clipan Finance Indonesia Tbk. 0.895 0.930
117. CINT Chitose Internasional Tbk. 0.170 0.447
118. CITA Cita Mineral Investindo Tbk. 0.102 0.401
119. CLEO Sariguna Primatirta Tbk. 0.729 0.819
120. CLPI Colorpak Indonesia Tbk. 0.796 0.864

Page 3 of 13
 PEFINDO BETA STOCK
Edition: 21-August-2020

No. TICKER COMPANY RAW BETA ADJUSTED BETA

121. CMNP Citra Marga Nusaphala Persada Tbk. 0.505 0.670
122. CNKO Exploitasi Energi Indonesia Tbk. 0.000 0.333
123. CNTX Century Textile Industry Tbk. 0.325 0.550
124. COWL Cowell Development Tbk. 0.193 0.462
125. CPIN Charoen Pokphand Indonesia Tbk. 1.652 1.434
126. CSAP Catur Sentosa Adiprana Tbk. 0.354 0.569
127. CSIS Cahayasakti Investindo Sukses Tbk. 0.505 0.670
128. CTBN Citra Tubindo Tbk. 0.522 0.681
129. CTRA Ciputra Development Tbk. 1.862 1.574
130. CTTH Citatah Tbk. 0.169 0.446
131. DART Duta Anggada Realty Tbk. 0.044 0.363
132. DEWA Darma Henwa Tbk. 0.083 0.389
133. DGIK Nusa Konstruksi Enjiniring Tbk. 0.271 0.514
134. DILD Intiland Development Tbk. 0.563 0.709
135. DKFT Central Omega Resources Tbk. 1.038 1.026
136. DLTA Delta Djakarta Tbk. 0.705 0.804
137. DMAS Puradelta Lestari Tbk. 1.848 1.565
138. DOID Delta Dunia Makmur Tbk. 2.263 1.842
139. DPNS Duta Pertiwi Nusantara Tbk. 0.659 0.773
140. DPUM Dua Putra Utama Makmur Tbk. 0.213 0.475
141. DSFI Dharma Samudera Fishing Industries Tbk. 0.557 0.705
142. DSNG Dharma Satya Nusantara Tbk. 0.586 0.724
143. DUTI Duta Pertiwi Tbk. 0.258 0.505
144. DVLA Darya-Varia Laboratoria Tbk. 0.288 0.525
145. DYAN Dyandra Media International Tbk. 0.639 0.759
146. ECII Electronic City Indonesia Tbk. 0.393 0.595
147. EKAD Ekadharma International Tbk. 0.876 0.917
148. ELSA Elnusa Tbk. 1.554 1.369
149. EMDE Megapolitan Developments Tbk. 0.033 0.355
150. EMTK Elang Mahkota Teknologi Tbk. 0.120 0.413
151. ENRG Energi Mega Persada Tbk. 1.110 1.073
152. EPMT Enseval Putera Megatrading Tbk. 0.077 0.385
153. ERAA Erajaya Swasembada Tbk. 1.660 1.440
154. ESSA Surya Esa Perkasa Tbk. 1.790 1.526
155. ESTI Ever Shine Tex Tbk. 0.272 0.515
156. ETWA Eterindo Wahanatama Tbk. 0.358 0.572
157. EXCL XL Axiata Tbk. 1.396 1.264
158. FAST Fast Food Indonesia Tbk. 0.416 0.611
159. FASW Fajar Surya Wisesa Tbk. 0.071 0.380
160. FISH FKS Multi Agro Tbk. 0.725 0.816

Page 4 of 13
 PEFINDO BETA STOCK
Edition: 21-August-2020

No. TICKER COMPANY RAW BETA ADJUSTED BETA

161. FORU Fortune Indonesia Tbk. 0.343 0.562
162. FORZ Forza Land Indonesia Tbk. 0.002 0.335
163. FPNI Lotte Chemical Titan Tbk. 1.075 1.050
164. FREN Smartfren Telecom Tbk. 1.882 1.588
165. GAMA Gading Development Tbk. 0.054 0.369
166. GDST Gunawan Dianjaya Steel Tbk. 0.459 0.640
167. GDYR Goodyear Indonesia Tbk. 0.569 0.712
168. GEMA Gema Grahasarana Tbk. 0.318 0.545
169. GGRM Gudang Garam Tbk. 0.955 0.970
170. GIAA Garuda Indonesia (Persero) Tbk. 1.704 1.469
171. GJTL Gajah Tunggal Tbk. 1.608 1.406
172. GLOB Global Teleshop Tbk. 0.465 0.643
173. GMTD Gowa Makassar Tourism Development Tbk. 0.040 0.360
174. GOLD Golden Retailindo Tbk. 0.418 0.612
175. GPRA Perdana Gapuraprima Tbk. 0.435 0.623
176. GTBO Garda Tujuh Buana Tbk. 1.430 1.287
177. GWSA Greenwood Sejahtera Tbk. 1.159 1.106
178. GZCO Gozco Plantations Tbk. 0.191 0.461
179. HADE HD Capital Tbk. 0.043 0.362
180. HDFA HD Finance Tbk. 0.148 0.432
181. HEXA Hexindo Adiperkasa Tbk. 0.903 0.936
182. HITS Humpuss Intermoda Transportasi Tbk. 0.211 0.474
183. HMSP H.M. Sampoerna Tbk. 1.032 1.022
184. HOKI Buyung Poetra Sembada Tbk. 0.574 0.716
185. HRTA Hartadinata Abadi Tbk. 0.215 0.477
186. HRUM Harum Energy Tbk. 0.592 0.728
187. IBFN Intan Baruprana Finance Tbk. 0.581 0.721
188. ICBP Indofood CBP Sukses Makmur Tbk. 0.508 0.672
189. ICON Island Concepts Indonesia Tbk. 0.526 0.684
190. IDPR Indonesia Pondasi Raya Tbk. 1.030 1.020
191. IGAR Champion Pacific Indonesia Tbk. 0.702 0.801
192. IKAI Intikeramik Alamasri Industri Tbk. 0.647 0.765
193. IKBI Sumi Indo Kabel Tbk. 0.471 0.647
194. IMAS Indomobil Sukses Internasional Tbk. 1.300 1.200
195. IMJS Indomobil Multi Jasa Tbk. 1.422 1.281
196. IMPC Impack Pratama Industri Tbk. 0.172 0.448
197. INAI Indal Aluminium Industry Tbk. 0.305 0.536
198. INCF Amstelco Indonesia Tbk 0.694 0.796
199. INCI Intanwijaya Internasional Tbk. 0.274 0.516
200. INCO Vale Indonesia Tbk. 1.712 1.475

Page 5 of 13
 PEFINDO BETA STOCK
Edition: 21-August-2020

No. TICKER COMPANY RAW BETA ADJUSTED BETA

201. INDF Indofood Sukses Makmur Tbk. 0.875 0.916
202. INDR Indo-Rama Synthetics Tbk. 0.447 0.631
203. INDS Indospring Tbk. 0.909 0.939
204. INDX Tanah Laut Tbk. 0.286 0.524
205. INDY Indika Energy Tbk. 1.655 1.437
206. INKP Indah Kiat Pulp & Paper Tbk. 2.210 1.807
207. INPC Bank Artha Graha Internasional Tbk. 0.262 0.508
208. INPP Indonesian Paradise Property Tbk. 0.772 0.848
209. INRU Toba Pulp Lestari Tbk. 0.097 0.398
210. INTA Intraco Penta Tbk. 0.679 0.786
211. INTD Inter Delta Tbk. 0.398 0.599
212. INTP Indocement Tunggal Prakasa Tbk. 1.345 1.230
213. IPOL Indopoly Swakarsa Industry Tbk. 0.775 0.850
214. ISAT Indosat Tbk. 1.933 1.622
215. ISSP Steel Pipe Industry of Indonesia Tbk. 1.079 1.053
216. ITMG Indo Tambangraya Megah Tbk. 1.364 1.243
217. JAWA Jaya Agra Wattie Tbk. 0.004 0.336
218. JGLE Graha Andrasentra Propertindo Tbk. 0.264 0.509
219. JIHD Jakarta International Hotels & Development Tbk. 0.167 0.445
220. JPFA Japfa Comfeed Indonesia Tbk. 1.683 1.456
221. JRPT Jaya Real Property Tbk. 0.683 0.789
222. JSMR Jasa Marga (Persero) Tbk. 1.500 1.334
223. JSPT Jakarta Setiabudi Internasional Tbk. 0.126 0.417
224. JTPE Jasuindo Tiga Perkasa Tbk. 0.436 0.624
225. KARW ICTSI Jasa Prima Tbk. 0.663 0.776
226. KBLI KMI Wire & Cable Tbk. 0.788 0.859
227. KBLM Kabelindo Murni Tbk. 0.147 0.431
228. KDSI Kedawung Setia Industrial Tbk. 0.987 0.991
229. KIAS Keramika Indonesia Assosiasi Tbk. 0.204 0.470
230. KIJA Kawasan Industri Jababeka Tbk. 1.250 1.166
231. KINO Kino Indonesia Tbk. 1.095 1.063
232. KKGI Resource Alam Indonesia Tbk. 1.177 1.118
233. KLBF Kalbe Farma Tbk. 1.147 1.098
234. KMTR Kirana Megatara Tbk. 1.105 1.070
235. KOBX Kobexindo Tractors Tbk. 0.944 0.963
236. KOIN Kokoh Inti Arebama Tbk. 0.244 0.496
237. KONI Perdana Bangun Pusaka Tbk. 1.038 1.025
238. KOPI Mitra Energi Persada Tbk. 0.082 0.388
239. KPIG MNC Land Tbk. 0.158 0.438
240. KRAH Grand Kartech Tbk. 1.328 1.219

Page 6 of 13
 PEFINDO BETA STOCK
Edition: 21-August-2020

No. TICKER COMPANY RAW BETA ADJUSTED BETA

241. KRAS Krakatau Steel (Persero) Tbk. 2.149 1.766
242. KREN Kresna Graha Sekurindo Tbk. 1.181 1.121
243. LEAD Logindo Samudramakmur Tbk. 0.666 0.777
244. LINK Link Net Tbk. 0.692 0.795
245. LION Lion Metal Works Tbk. 0.702 0.801
246. LMAS Limas Centric Indonesia Tbk. 1.292 1.194
247. LMPI Langgeng Makmur Industri Tbk. 0.129 0.419
248. LPCK Lippo Cikarang Tbk. 2.027 1.684
249. LPIN Multi Prima Sejahtera Tbk. 0.598 0.732
250. LPKR Lippo Karawaci Tbk. 1.210 1.140
251. LPPF Matahari Department Store Tbk. 1.736 1.491
252. LPPS Lippo Securities Tbk. 0.538 0.692
253. LRNA Eka Sari Lorena Transport Tbk. 0.060 0.373
254. LSIP PP London Sumatra Indonesia Tbk. 1.300 1.200
255. LTLS Lautan Luas Tbk. 0.760 0.840
256. MAGP Multi Agro Gemilang Plantation Tbk. 0.006 0.337
257. MAIN Malindo Feedmill Tbk. 1.880 1.587
258. MAPB MAP Boga Adiperkasa Tbk. 0.357 0.572
259. MAPI Mitra Adiperkasa Tbk. 1.453 1.302
260. MARK Mark Dynamics Indonesia Tbk. 1.122 1.081
261. MASA Multistrada Arah Sarana Tbk. 0.249 0.499
262. MAYA Bank Mayapada Internasional Tbk. 0.435 0.623
263. MBAP Mitrabara Adiperdana Tbk. 0.772 0.848
264. MBSS Mitrabahtera Segara Sejati Tbk. 1.673 1.449
265. MBTO Martina Berto Tbk. 0.403 0.602
266. MCOR Bank Windu Kentjana International Tbk. 1.191 1.128
267. MDKA Merdeka Copper Gold Tbk. 0.577 0.718
268. MDLN Modernland Realty Ltd. Tbk. 1.427 1.285
269. MEDC Medco Energi International Tbk. 1.783 1.522
270. MERK Merck Tbk. 1.168 1.112
271. META Nusantara Infrastructure Tbk. 0.673 0.782
272. MFIN Mandala Multifinance Tbk. 0.582 0.721
273. MFMI Multifiling Mitra Indonesia Tbk. 0.388 0.592
274. MICE Multi Indocitra Tbk. 0.300 0.534
275. MIDI Midi Utama Indonesia Tbk. 0.066 0.377
276. MIKA Mitra Keluarga Karyasehat Tbk. 0.746 0.831
277. MINA Sanurhasta Mitra Tbk. 0.517 0.678
278. MKNT Mitra Komunikasi Nusantara Tbk. 0.145 0.430
279. MKPI Metropolitan Kentjana Tbk. 0.093 0.396
280. MLBI Multi Bintang Indonesia Tbk. 0.634 0.756

Page 7 of 13
 PEFINDO BETA STOCK
Edition: 21-August-2020

No. TICKER COMPANY RAW BETA ADJUSTED BETA

281. MLIA Mulia Industrindo Tbk. 0.351 0.567
282. MLPL Multipolar Tbk. 1.326 1.217
283. MLPT Multipolar Technology Tbk. 0.523 0.682
284. MMLP Mega Manunggal Property Tbk. 0.569 0.713
285. MNCN Media Nusantara Citra Tbk. 1.421 1.280
286. MPMX Mitra Pinasthika Mustika Tbk. 0.411 0.607
287. MPOW Megapower Makmur Tbk. 0.713 0.808
288. MPPA Matahari Putra Prima Tbk. 1.516 1.344
289. MRAT Mustika Ratu Tbk. 0.410 0.607
290. MSKY MNC Sky Vision Tbk. 0.330 0.553
291. MTDL Metrodata Electronics Tbk. 1.159 1.106
292. MTLA Metropolitan Land Tbk. 0.740 0.827
293. MTSM Metro Realty Tbk. 0.008 0.339
294. MYOH Samindo Resources Tbk. 0.598 0.732
295. MYOR Mayora Indah Tbk. 0.539 0.693
296. NASA Ayana Land International Tbk. 0.165 0.444
297. NIKL Pelat Timah Nusantara Tbk. 1.209 1.140
298. NIRO Nirvana Development Tbk. 0.052 0.368
299. NISP Bank OCBC NISP Tbk. 0.216 0.477
300. NOBU Bank Nationalnobu Tbk. 0.034 0.356
301. NRCA Nusa Raya Cipta Tbk. 0.847 0.898
302. OASA Protech Mitra Perkasa Tbk. 0.732 0.821
303. OKAS Ancora Indonesia Resources Tbk. 1.045 1.030
304. OMRE Indonesia Prima Property Tbk. 2.435 1.957
305. PADI Minna Padi Investama Tbk. 0.310 0.540
306. PALM Provident Agro Tbk. 0.152 0.435
307. PANR Panorama Sentrawisata Tbk. 1.395 1.263
308. PANS Panin Sekuritas Tbk. 1.052 1.035
309. PBRX Pan Brothers Tbk. 0.846 0.897
310. PBSA Paramita Bangun Sarana Tbk. 0.489 0.659
311. PDES Destinasi Tirta Nusantara Tbk. 0.542 0.695
312. PGAS PT Perusahaan Gas Negara Tbk. 2.280 1.853
313. PICO Pelangi Indah Canindo Tbk. 1.113 1.075
314. PJAA Pembangunan Jaya Ancol Tbk. 1.098 1.065
315. PLIN Plaza Indonesia Realty Tbk. 0.238 0.492
316. PNBN Bank Pan Indonesia Tbk. 1.595 1.397
317. PNBS Bank Panin Syariah Tbk. 0.286 0.524
318. PNIN Panin Insurance Tbk. 1.267 1.178
319. PNLF Panin Financial Tbk. 1.296 1.198
320. PORT Nusantara Pelabuhan Handal Tbk. 0.158 0.438

Page 8 of 13
 PEFINDO BETA STOCK
Edition: 21-August-2020

No. TICKER COMPANY RAW BETA ADJUSTED BETA

321. POWR Cikarang Listrindo Tbk. 0.699 0.799
322. PPRO PP Properti Tbk. 0.735 0.823
323. PRDA Prodia Widyahusada Tbk. 0.510 0.673
324. PSAB J Resources Asia Pasifik Tbk. 0.808 0.872
325. PSDN Prasidha Aneka Niaga Tbk. 0.314 0.543
326. PTBA Tambang Batubara Bukit Asam (Persero) Tbk. 1.134 1.089
327. PTIS Indo Straits Tbk. 0.860 0.907
328. PTPP PP (Persero) Tbk. 2.568 2.045
329. PTRO Petrosea Tbk. 1.504 1.336
330. PTSN Sat Nusapersada Tbk. 2.236 1.824
331. PTSP Pioneerindo Gourmet International Tbk. 0.106 0.404
332. PUDP Pudjiadi Prestige Tbk. 0.332 0.555
333. PWON Pakuwon Jati Tbk. 1.673 1.449
334. PYFA Pyridam Farma Tbk. 0.744 0.829
335. RAJA Rukun Raharja Tbk. 1.331 1.221
336. RALS Ramayana Lestari Sentosa Tbk. 1.444 1.296
337. RANC Supra Boga Lestari Tbk. 0.588 0.726
338. RBMS Ristia Bintang Mahkotasejati Tbk. 0.457 0.638
339. RDTX Roda Vivatex Tbk. 0.526 0.684
340. RICY Ricky Putra Globalindo Tbk. 0.121 0.414
341. RIGS Rig Tenders Indonesia Tbk. 1.196 1.130
342. RMBA Bentoel Internasional Investama Tbk. 0.196 0.464
343. RODA Pikko Land Development Tbk. 0.511 0.674
344. ROTI Nippon Indosari Corpindo Tbk. 0.368 0.579
345. RUIS Radiant Utama Interinsco Tbk. 0.467 0.644
346. SAFE Steady Safe Tbk. 0.239 0.493
347. SAME Sarana Meditama Metropolitan Tbk. 0.538 0.692
348. SCCO Supreme Cable Manufacturing & Commerce Tbk. 0.144 0.430
349. SCMA Surya Citra Media Tbk. 1.563 1.375
350. SDMU Sidomulyo Selaras Tbk. 0.421 0.614
351. SDPC Millennium Pharmacon International Tbk. 0.912 0.941
352. SDRA Bank Woori Saudara Indonesia 1906 Tbk. 0.111 0.408
353. SHIP Sillo Maritime Perdana Tbk. 0.148 0.432
354. SIDO Industri Jamu dan Farmasi Sido Muncul Tbk. 0.571 0.714
355. SILO Siloam International Hospitals Tbk. 0.580 0.720
356. SIMP Salim Ivomas Pratama Tbk. 1.395 1.263
357. SIPD Sierad Produce Tbk. 0.417 0.612
358. SKLT Sekar Laut Tbk. 0.043 0.362
359. SMAR Smart Tbk. 0.867 0.911
360. SMBR Semen Baturaja (Persero) Tbk. 1.996 1.664

Page 9 of 13
 PEFINDO BETA STOCK
Edition: 21-August-2020

No. TICKER COMPANY RAW BETA ADJUSTED BETA

361. SMCB Holcim Indonesia Tbk. 1.311 1.207
362. SMDM Suryamas Dutamakmur Tbk. 0.627 0.752
363. SMDR Samudera Indonesia Tbk. 1.690 1.460
364. SMGR Semen Indonesia (Persero) Tbk. 1.585 1.390
365. SMMA Sinarmas Multiartha Tbk. 0.240 0.493
366. SMMT Golden Eagle Energy Tbk. 0.886 0.924
367. SMRA Summarecon Agung Tbk. 2.161 1.774
368. SMSM Selamat Sempurna Tbk. 0.795 0.864
369. SOCI Soechi Lines Tbk. 1.524 1.350
370. SONA Sona Topas Tourism Industry Tbk. 0.062 0.374
371. SPMA Suparma Tbk. 0.714 0.809
372. SQMI Renuka Coalindo Tbk. 0.712 0.808
373. SRAJ Sejahteraraya Anugrahjaya Tbk. 0.316 0.544
374. SRIL Sri Rejeki Isman Tbk. 1.100 1.066
375. SRSN Indo Acidatama Tbk. 0.302 0.535
376. SRTG Saratoga Investama Sedaya Tbk. 0.401 0.601
377. SSIA Surya Semesta Internusa Tbk. 1.346 1.231
378. SSTM Sunson Textile Manufacture Tbk. 0.049 0.366
379. STAR Star Petrochem Tbk. 0.642 0.761
380. SULI SLJ Global Tbk. 0.522 0.681
381. SUPR Solusi Tunas Pratama Tbk. 0.064 0.376
382. TALF Tunas Alfin Tbk. 0.061 0.374
383. TAMU Pelayaran Tamarin Samudra Tbk. 0.110 0.407
384. TBIG Tower Bersama Infrastructure Tbk. 1.269 1.180
385. TBLA Tunas Baru Lampung Tbk. 1.216 1.144
386. TBMS Tembaga Mulia Semanan Tbk. 0.117 0.412
387. TCID Mandom Indonesia Tbk. 0.036 0.357
388. TFCO Tifico Fiber Indonesia Tbk. 1.067 1.045
389. TGKA Tigaraksa Satria Tbk. 0.266 0.511
390. TGRA Terregra Asia Energy Tbk. 1.003 1.002
391. TIFA Tifa Finance Tbk. 0.777 0.851
392. TINS Timah (Persero) Tbk. 2.095 1.730
393. TIRA Tira Austenite Tbk. 0.084 0.389
394. TIRT Tirta Mahakam Resources Tbk. 0.083 0.389
395. TKIM Pabrik Kertas Tjiwi Kimia Tbk. 2.195 1.797
396. TLKM Telekomunikasi Indonesia (Persero) Tbk. 0.679 0.786
397. TMAS Pelayaran Tempuran Emas Tbk. 0.276 0.517
398. TMPO Tempo Intimedia Tbk. 0.082 0.388
399. TOBA Toba Bara Sejahtra Tbk. 0.078 0.386
400. TOPS Totalindo Eka Persada Tbk. 0.621 0.747

Page 10 of 13
 PEFINDO BETA STOCK
Edition: 21-August-2020

No. TICKER COMPANY RAW BETA ADJUSTED BETA

401. TOTL Total Bangun Persada Tbk. 0.894 0.929
402. TOTO Surya Toto Indonesia Tbk. 0.618 0.745
403. TOWR Sarana Menara Nusantara Tbk. 1.054 1.036
404. TPIA Chandra Asri Petrochemical Tbk. 1.005 1.003
405. TPMA Trans Power Marine Tbk. 0.317 0.544
406. TRIM Trimegah Securities Tbk. 0.177 0.452
407. TRIS Trisula International Tbk. 0.036 0.357
408. TRST Trias Sentosa Tbk. 0.427 0.618
409. TSPC Tempo Scan Pacific Tbk. 0.733 0.822
410. TURI Tunas Ridean Tbk. 0.001 0.334
411. ULTJ Ultra Jaya Milk Industry & Trading Company, Tbk. 0.475 0.650
412. UNIC Unggul Indah Cahaya Tbk. 0.768 0.845
413. UNIT Nusantara Inti Corpora Tbk. 0.407 0.605
414. UNSP Bakrie Sumatra Plantations Tbk. 1.389 1.259
415. UNTR United Tractors Tbk. 0.980 0.987
416. UNVR Unilever Indonesia Tbk. 0.673 0.782
417. VINS Victoria Insurance Tbk. 0.153 0.435
418. VIVA Visi Media Asia Tbk. 0.517 0.678
419. VOKS Voksel Electric Tbk. 0.527 0.684
420. VRNA Verena Multi Finance Tbk. 0.193 0.462
421. WAPO Wahana Pronatural Tbk. 0.218 0.479
422. WEHA WEHA Transportasi Indonesia Tbk. 1.149 1.099
423. WICO Wicaksana Overseas International Tbk. 0.035 0.357
424. WIIM Wismilak Inti Makmur Tbk. 2.090 1.727
425. WIKA Wijaya Karya (Persero) Tbk. 2.315 1.877
426. WINS Wintermar Offshore Marine Tbk. 0.733 0.822
427. WOMF Wahana Ottomitra Multiartha Tbk. 0.845 0.896
428. WOOD Integra Indocabinet Tbk. 0.821 0.880
429. WSBP Waskita Beton Precast Tbk. 1.733 1.489
430. WSKT Waskita Karya (Persero) Tbk. 2.474 1.982
431. WTON Wijaya Karya Beton Tbk. 1.769 1.512
432. YPAS Yanaprima Hastapersada Tbk. 0.105 0.403
433. YULE Yulie Sekurindo Tbk. 0.309 0.539
434. ZBRA Zebra Nusantara Tbk. 0.503 0.669

Page 11 of 13
 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:

Page 12 of 13
 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).

Page 13 of 13