PEFINDO BETA STOCK

Edition: 18-April-2024

No. TICKER COMPANY RAW BETA ADJUSTED BETA

1. AALI Astra Agro Lestari Tbk. 1.251 1.167
2. ABBA Mahaka Media Tbk. 1.305 1.203
3. ABMM ABM Investama Tbk. 1.038 1.025
4. ACES Ace Hardware Indonesia Tbk. 0.431 0.621
5. ACST Acset Indonusa Tbk. 1.296 1.197
6. ADHI Adhi Karya (Persero) Tbk. 1.443 1.295
7. ADMF Adira Dinamika Multi Finance Tbk. 0.527 0.685
8. ADMG Polychem Indonesia Tbk. 0.599 0.733
9. ADRO Adaro Energy Tbk. 1.832 1.555
10. AGII Aneka Gas Industri Tbk. 1.548 1.365
11. AGRO Bank Rakyat Indonesia Agroniaga Tbk. 2.300 1.867
12. AGRS Bank Agris Tbk. 0.044 0.363
13. AHAP Asuransi Harta Aman Pratama Tbk. 2.222 1.815
14. AIMS Akbar Indo Makmur Stimec Tbk. 2.019 1.680
15. AISA Tiga Pilar Sejahtera Food Tbk. 0.834 0.889
16. AKKU Alam Karya Unggul Tbk. 0.429 0.620
17. AKPI Argha Karya Prima Industry Tbk. 1.624 1.416
18. AKRA AKR Corporindo Tbk. 0.809 0.873
19. AKSI Majapahit Inti Corpora Tbk. 0.291 0.527
20. ALDO Alkindo Naratama Tbk. 0.058 0.372
21. ALKA Alakasa Industrindo Tbk. 0.785 0.857
22. ALMI Alumindo Light Metal Industry Tbk. 0.041 0.361
23. ALTO Tri Banyan Tirta Tbk. 1.197 1.132
24. AMAG Asuransi Multi Artha Guna Tbk. 0.109 0.406
25. AMAN Makmur Berkah Amanda Tbk. 0.204 0.469
26. AMAR Bank Amar Indonesia Tbk. 0.068 0.379
27. AMFG Asahimas Flat Glass Tbk. 0.503 0.669
28. AMIN Ateliers Mecaniques D Indonesie Tbk. 0.958 0.972
29. AMOR Ashmore Asset Management Indonesia Tbk. 0.031 0.354
30. AMRT Sumber Alfaria Trijaya Tbk. 0.592 0.728
31. ANDI Andira Agro Tbk. 0.429 0.620
32. ANJT Austindo Nusantara Jaya Tbk. 1.143 1.095
33. ANTM Aneka Tambang (Persero) Tbk. 1.507 1.338
34. APEX Apexindo Pratama Duta Tbk. 0.604 0.736
35. APIC Pacific Strategic Financial Tbk. 0.585 0.723
36. APII Arita Prima Indonesia Tbk. 0.132 0.422
37. APLI Asiaplast Industries Tbk. 0.046 0.364
38. APLN Agung Podomoro Land Tbk. 1.111 1.074
39. ARGO Argo Pantes Tbk. 0.352 0.568
40. ARII Atlas Resources Tbk. 1.089 1.059

Page 1 of 17
 PEFINDO BETA STOCK
Edition: 18-April-2024

No. TICKER COMPANY RAW BETA ADJUSTED BETA

41. ARKA Arkha Jayanti Persada Tbk. 0.224 0.483
42. ARMY Armidian Karyatama Tbk. 0.131 0.421
43. ARNA Arwana Citramulia Tbk. 0.664 0.776
44. ARTA Arthavest Tbk. 0.776 0.851
45. ARTO Bank Artos Indonesia Tbk. 2.583 2.055
46. ASBI Asuransi Bintang Tbk. 0.334 0.556
47. ASDM Asuransi Dayin Mitra Tbk. 0.374 0.583
48. ASGR Astra Graphia Tbk. 0.649 0.766
49. ASII Astra International Tbk. 1.357 1.238
50. ASJT Asuransi Jasa Tania Tbk. 0.293 0.528
51. ASMI Asuransi Mitra Maparya Tbk. 1.505 1.336
52. ASPI Andalan Sakti Primaindo Tbk. 0.674 0.783
53. ASRI Alam Sutera Realty Tbk. 1.306 1.204
54. ASRM Asuransi Ramayana Tbk. 0.167 0.444
55. ASSA Adi Sarana Armada Tbk. 1.764 1.509
56. ATAP Trimitra Prawara Goldland Tbk. 0.374 0.583
57. ATIC Anabatic Technologies Tbk. 1.499 1.333
58. AUTO Astra Otoparts Tbk. 0.859 0.906
59. BABP Bank MNC Internasional Tbk. 3.070 2.380
60. BAJA Saranacentral Bajatama Tbk. 0.792 0.861
61. BALI Bali Towerindo Sentra Tbk. 0.885 0.924
62. BANK Bank Net Indonesia Syariah Tbk. 0.422 0.614
63. BAPA Bekasi Asri Pemula Tbk. 1.346 1.231
64. BATA Sepatu Bata Tbk. 0.304 0.536
65. BAYU Bayu Buana Tbk. 0.401 0.601
66. BBCA Bank Central Asia Tbk. 0.975 0.983
67. BBHI Bank Harda Internasional Tbk. 3.138 2.425
68. BBKP Bank Bukopin Tbk. 1.406 1.271
69. BBMD Bank Mestika Dharma Tbk. 0.287 0.525
70. BBNI Bank Negara Indonesia (Persero) Tbk. 1.838 1.559
71. BBRI Bank Rakyat Indonesia (Persero) Tbk. 1.297 1.198
72. BBSI Bank Bisnis Internasional Tbk. 0.704 0.803
73. BBSS Bumi Benowo Sukses Sejahtera Tbk. 0.630 0.754
74. BBTN Bank Tabungan Negara (Persero) Tbk. 1.339 1.226
75. BBYB Bank Yudha Bhakti Tbk. 3.031 2.354
76. BCIP Bumi Citra Permai Tbk. 0.076 0.384
77. BDMN Bank Danamon Indonesia Tbk. 0.754 0.836
78. BEBS Berkah Beton Sadaya Tbk. 1.397 1.264
79. BEEF Estika Tata Tiara Tbk. 0.862 0.908
80. BEKS Bank Pundi Indonesia Tbk. 0.102 0.402

Page 2 of 17
 PEFINDO BETA STOCK
Edition: 18-April-2024

No. TICKER COMPANY RAW BETA ADJUSTED BETA

81. BESS Batulicin Nusantara Maritim Tbk. 2.632 2.088
82. BEST Bekasi Fajar Industrial Estate Tbk. 1.180 1.120
83. BFIN BFI Finance Indonesia Tbk. 1.036 1.024
84. BGTG Bank Ganesha Tbk. 1.632 1.422
85. BHAT Bhakti Multi Artha Tbk. 0.085 0.390
86. BHIT MNC Investama Tbk. 1.059 1.040
87. BIKA Binakarya Jaya Abadi Tbk. 1.414 1.276
88. BIMA Primarindo Asia Infrastructure Tbk. 0.937 0.958
89. BINA Bank Ina Perdana Tbk. 0.075 0.383
90. BIPI Benakat Petroleum Energy Tbk. 1.953 1.635
91. BIPP Bhuwanatala Indah Permai Tbk. 0.598 0.732
92. BIRD Blue Bird Tbk. 1.074 1.049
93. BISI BISI International Tbk. 0.379 0.586
94. BJBR Bank Pembangunan Daerah Jawa Barat dan Bante 0.799 0.866
95. BJTM Bank Pembangunan Daerah Jawa Timur Tbk. 0.578 0.718
96. BKDP Bukit Darmo Property Tbk. 0.343 0.562
97. BKSL Sentul City Tbk. 0.053 0.369
98. BKSW Bank QNB Indonesia Tbk. 0.797 0.864
99. BLTA Berlian Laju Tanker Tbk. 0.684 0.790
100. BLUE Berkah Prima Perkasa Tbk. 0.468 0.646
101. BMRI Bank Mandiri (Persero) Tbk. 1.269 1.179
102. BMSR Bintang Mitra Semestaraya Tbk. 0.336 0.558
103. BMTR Global Mediacom Tbk. 1.408 1.272
104. BNBA Bank Bumi Arta Tbk. 2.354 1.902
105. BNBR Bakrie & Brothers Tbk. 0.173 0.449
106. BNGA Bank CIMB Niaga Tbk. 0.787 0.858
107. BNII Bank Maybank Indonesia Tbk. 0.768 0.846
108. BNLI Bank Permata Tbk. 0.313 0.542
109. BOGA Bintang Oto Global Tbk. 0.596 0.731
110. BOLA Bali Bintang Sejahtera Tbk. 2.718 2.145
111. BOSS Borneo Olah Sarana Sukses Tbk. 0.666 0.777
112. BRAM Indo Kordsa Tbk. 0.208 0.472
113. BRIS Bank BRIsyariah Tbk. 1.073 1.049
114. BRMS Bumi Resources Minerals Tbk. 1.718 1.478
115. BRNA Berlina Tbk. 0.322 0.548
116. BRPT Barito Pacific Tbk. 1.460 1.307
117. BSDE Bumi Serpong Damai Tbk. 0.659 0.773
118. BSSR Baramulti Suksessarana Tbk. 0.793 0.862
119. BTEK Bumi Teknokultura Unggul Tbk. 0.429 0.620
120. BTEL Bakrie Telecom Tbk. 0.000 0.333

Page 3 of 17
 PEFINDO BETA STOCK
Edition: 18-April-2024

No. TICKER COMPANY RAW BETA ADJUSTED BETA

121. BTPN Bank Tabungan Pensiunan Nasional Tbk. 0.363 0.575
122. BTPS Bank Tabungan Pensiunan Nasional Syariah Tbk. 1.523 1.349
123. BUKK Bukaka Teknik Utama Tbk. 0.418 0.612
124. BULL Buana Listya Tama Tbk. 0.188 0.459
125. BUMI Bumi Resources Tbk. 2.806 2.204
126. BUVA Bukit Uluwatu Villa Tbk. 0.066 0.378
127. BVIC Bank Victoria International Tbk. 1.222 1.148
128. BWPT Eagle High Plantations Tbk. 1.765 1.510
129. CAKK Cahayaputra Asa Keramik Tbk. 0.829 0.886
130. CANI Capitol Nusantara Indonesia Tbk. 0.345 0.564
131. CARE Metro Healthcare Indonesia Tbk. 0.601 0.734
132. CARS Industri dan Perdagangan Bintraco Dharma Tbk. 1.119 1.079
133. CASA Capital Financial Indonesia Tbk. 0.323 0.549
134. CASS Cardig Aero Services Tbk. 0.871 0.914
135. CBMF Cahaya Bintang Medan Tbk. 0.049 0.366
136. CCSI Communication Cable Systems Indonesia Tbk. 0.482 0.655
137. CENT Centrin Online Tbk. 2.233 1.822
138. CFIN Clipan Finance Indonesia Tbk. 0.845 0.897
139. CINT Chitose Internasional Tbk. 0.962 0.975
140. CITA Cita Mineral Investindo Tbk. 0.118 0.412
141. CLAY Citra Putra Realty Tbk. 0.904 0.936
142. CMNP Citra Marga Nusaphala Persada Tbk. 0.090 0.393
143. CMPP Rimau Multi Putra Pratama Tbk. 1.849 1.566
144. CNKO Exploitasi Energi Indonesia Tbk. 0.429 0.620
145. CNTX Century Textile Industry Tbk. 0.930 0.953
146. COCO Wahana Interfood Nusantara Tbk. 0.796 0.864
147. COWL Cowell Development Tbk. 0.200 0.466
148. CPRI Capri Nusa Satu Properti Tbk. 0.054 0.370
149. CPRO Central Proteinaprima Tbk. 0.906 0.937
150. CSAP Catur Sentosa Adiprana Tbk. 0.936 0.957
151. CSIS Cahayasakti Investindo Sukses Tbk. 1.006 1.004
152. CSMI Cipta Selera Murni Tbk. 0.062 0.375
153. CSRA Cisadane Sawit Raya Tbk. 1.789 1.526
154. CTRA Ciputra Development Tbk. 0.926 0.951
155. DART Duta Anggada Realty Tbk. 0.771 0.847
156. DAYA Duta Intidaya Tbk. 0.159 0.439
157. DCII DCI Indonesia Tbk. 2.306 1.871
158. DEWA Darma Henwa Tbk. 0.993 0.995
159. DFAM Dafam Property Indonesia Tbk. 1.438 1.292
160. DGIK Nusa Konstruksi Enjiniring Tbk. 1.630 1.420

Page 4 of 17
 PEFINDO BETA STOCK
Edition: 18-April-2024

No. TICKER COMPANY RAW BETA ADJUSTED BETA

161. DGNS Diagnos Laboratorium Utama Tbk. 0.254 0.503
162. DILD Intiland Development Tbk. 0.729 0.819
163. DIVA Distribusi Voucher Nusantara Tbk. 0.211 0.474
164. DKFT Central Omega Resources Tbk. 1.594 1.396
165. DLTA Delta Djakarta Tbk. 0.371 0.581
166. DMAS Puradelta Lestari Tbk. 0.612 0.741
167. DMND Diamond Food Indonesia Tbk. 0.478 0.652
168. DNAR Bank Dinar Indonesia Tbk. 0.128 0.419
169. DOID Delta Dunia Makmur Tbk. 1.546 1.364
170. DPNS Duta Pertiwi Nusantara Tbk. 0.196 0.464
171. DPUM Dua Putra Utama Makmur Tbk. 0.504 0.669
172. DSFI Dharma Samudera Fishing Industries Tbk. 1.046 1.031
173. DSNG Dharma Satya Nusantara Tbk. 1.379 1.253
174. DSSA Dian Swastatika Sentosa Tbk. 1.631 1.421
175. DUCK Jaya Bersama Indo Tbk. 0.319 0.546
176. DUTI Duta Pertiwi Tbk. 0.499 0.666
177. DYAN Dyandra Media International Tbk. 0.075 0.383
178. EAST Eastparc Hotel Tbk. 0.416 0.611
179. EDGE Indointernet Tbk. 1.508 1.339
180. EKAD Ekadharma International Tbk. 0.251 0.500
181. ELSA Elnusa Tbk. 0.965 0.976
182. ELTY Bakrieland Development Tbk. 0.429 0.620
183. EMDE Megapolitan Developments Tbk. 0.157 0.438
184. EMTK Elang Mahkota Teknologi Tbk. 2.338 1.892
185. ENRG Energi Mega Persada Tbk. 1.816 1.544
186. ENZO Morenzo Abadi Perkasa Tbk. 0.593 0.729
187. EPMT Enseval Putera Megatrading Tbk. 0.034 0.356
188. ERAA Erajaya Swasembada Tbk. 1.032 1.021
189. ESIP Sinergi Inti Plastindo Tbk. 1.564 1.376
190. ESSA Surya Esa Perkasa Tbk. 2.964 2.309
191. ESTI Ever Shine Tex Tbk. 0.273 0.516
192. EXCL XL Axiata Tbk. 0.963 0.976
193. FAPA FAP Agri Tbk. 0.247 0.498
194. FAST Fast Food Indonesia Tbk. 0.310 0.540
195. FILM MD Pictures Tbk. 1.792 1.528
196. FIMP Fimperkasa Utama Tbk. 1.602 1.401
197. FISH FKS Multi Agro Tbk. 0.405 0.604
198. FITT Hotel Fitra International Tbk. 1.579 1.386
199. FOOD Sentra Food Indonesia Tbk. 0.386 0.590
200. FORU Fortune Indonesia Tbk. 2.004 1.669

Page 5 of 17
 PEFINDO BETA STOCK
Edition: 18-April-2024

No. TICKER COMPANY RAW BETA ADJUSTED BETA

201. FPNI Lotte Chemical Titan Tbk. 0.767 0.845
202. FREN Smartfren Telecom Tbk. 1.277 1.185
203. GDST Gunawan Dianjaya Steel Tbk. 1.711 1.474
204. GDYR Goodyear Indonesia Tbk. 0.307 0.538
205. GEMS Golden Energy Mines Tbk. 0.433 0.622
206. GGRM Gudang Garam Tbk. 0.547 0.698
207. GGRP Gunung Raja Paksi Tbk. 1.661 1.441
208. GHON Gihon Telekomunikasi Indonesia Tbk. 0.560 0.707
209. GIAA Garuda Indonesia (Persero) Tbk. 0.248 0.499
210. GJTL Gajah Tunggal Tbk. 0.757 0.838
211. GLOB Global Teleshop Tbk. 0.573 0.715
212. GMFI Garuda Maintenance Facility Aero Asia Tbk. 0.104 0.402
213. GMTD Gowa Makassar Tourism Development Tbk. 0.328 0.552
214. GOLD Golden Retailindo Tbk. 0.492 0.661
215. GOOD Garudafood Putra Putri Jaya Tbk. 1.210 1.140
216. GPRA Perdana Gapuraprima Tbk. 0.612 0.742
217. GSMF Equity Development Investment Tbk. 1.110 1.073
218. GWSA Greenwood Sejahtera Tbk. 1.254 1.169
219. GZCO Gozco Plantations Tbk. 3.566 2.710
220. HDFA HD Finance Tbk. 0.822 0.881
221. HELI Jaya Trishindo Tbk. 2.542 2.028
222. HERO Hero Supermarket Tbk. 0.195 0.463
223. HEXA Hexindo Adiperkasa Tbk. 0.690 0.794
224. HITS Humpuss Intermoda Transportasi Tbk. 0.610 0.740
225. HMSP H.M. Sampoerna Tbk. 0.234 0.489
226. HOKI Buyung Poetra Sembada Tbk. 1.592 1.395
227. HOMI Grand House Mulia Tbk. 1.217 1.145
228. HOTL Saraswati Griya Lestari Tbk. 0.022 0.348
229. HRME Menteng Heritage Realty Tbk. 0.872 0.915
230. HRUM Harum Energy Tbk. 2.239 1.826
231. IATA Indonesia Air Transport Tbk. 3.322 2.548
232. IBFN Intan Baruprana Finance Tbk. 1.667 1.445
233. IBST Inti Bangun Sejahtera Tbk. 1.114 1.076
234. IDPR Indonesia Pondasi Raya Tbk. 0.157 0.438
235. IFSH Ifishdeco Tbk. 0.076 0.384
236. IGAR Champion Pacific Indonesia Tbk. 0.024 0.349
237. IIKP Inti Agri Resources Tbk. 0.303 0.535
238. IKAI Intikeramik Alamasri Industri Tbk. 0.429 0.620
239. IKAN Era Mandiri Cemerlang Tbk. 0.263 0.509
240. IKBI Sumi Indo Kabel Tbk. 0.741 0.827

Page 6 of 17
 PEFINDO BETA STOCK
Edition: 18-April-2024

No. TICKER COMPANY RAW BETA ADJUSTED BETA

241. IMAS Indomobil Sukses Internasional Tbk. 1.112 1.075
242. IMJS Indomobil Multi Jasa Tbk. 0.080 0.386
243. IMPC Impack Pratama Industri Tbk. 0.553 0.702
244. INAF Indofarma Tbk. 0.989 0.993
245. INAI Indal Aluminium Industry Tbk. 0.056 0.371
246. INCF Amstelco Indonesia Tbk 2.034 1.689
247. INCI Intanwijaya Internasional Tbk. 0.699 0.800
248. INCO Vale Indonesia Tbk. 1.311 1.208
249. INDF Indofood Sukses Makmur Tbk. 0.017 0.345
250. INDO Royalindo Investa Wijaya Tbk. 1.812 1.541
251. INDR Indo-Rama Synthetics Tbk. 0.357 0.571
252. INDS Indospring Tbk. 0.240 0.494
253. INDX Tanah Laut Tbk. 0.175 0.450
254. INDY Indika Energy Tbk. 2.629 2.086
255. INKP Indah Kiat Pulp & Paper Tbk. 1.025 1.017
256. INOV Inocycle Technology Group Tbk. 1.252 1.168
257. INPC Bank Artha Graha Internasional Tbk. 0.784 0.856
258. INRU Toba Pulp Lestari Tbk. 1.039 1.026
259. INTA Intraco Penta Tbk. 1.574 1.383
260. INTP Indocement Tunggal Prakasa Tbk. 0.437 0.625
261. IPCC Indonesia Kendaraan Terminal Tbk. 0.618 0.745
262. IPCM Jasa Armada Indonesia Tbk. 0.230 0.487
263. IPOL Indopoly Swakarsa Industry Tbk. 0.425 0.617
264. IPTV MNC Vision Networks Tbk. 1.460 1.307
265. IRRA Itama Ranoraya Tbk. 1.201 1.134
266. ISAT Indosat Tbk. 0.676 0.784
267. ISSP Steel Pipe Industry of Indonesia Tbk. 0.963 0.975
268. ITIC Indonesian Tobacco Tbk. 0.253 0.502
269. ITMA Sumber Energi Andalan Tbk. 1.371 1.247
270. ITMG Indo Tambangraya Megah Tbk. 1.666 1.444
271. JAST Jasnita Telekomindo Tbk. 0.502 0.668
272. JAYA Armada Berjaya Trans Tbk. 0.084 0.389
273. JECC Jembo Cable Company Tbk. 0.195 0.463
274. JGLE Graha Andrasentra Propertindo Tbk. 0.429 0.620
275. JIHD Jakarta International Hotels & Development Tbk. 0.592 0.728
276. JKON Jaya Konstruksi Manggala Pratama Tbk. 1.150 1.100
277. JMAS Asuransi Jiwa Syariah Jasa Mitra Abadi Tbk. 0.060 0.373
278. JPFA Japfa Comfeed Indonesia Tbk. 0.139 0.426
279. JRPT Jaya Real Property Tbk. 0.166 0.444
280. JSKY Sky Energy Indonesia Tbk. 0.316 0.544

Page 7 of 17
 PEFINDO BETA STOCK
Edition: 18-April-2024

No. TICKER COMPANY RAW BETA ADJUSTED BETA

281. JSMR Jasa Marga (Persero) Tbk. 0.858 0.905
282. KAEF Kimia Farma Tbk. 1.527 1.351
283. KARW ICTSI Jasa Prima Tbk. 0.140 0.427
284. KBAG Karya Bersama Anugerah Tbk. 0.383 0.588
285. KBLM Kabelindo Murni Tbk. 0.631 0.754
286. KBLV First Media Tbk. 1.554 1.369
287. KBRI Kertas Basuki Rachmat Indonesia Tbk. 0.007 0.338
288. KDSI Kedawung Setia Industrial Tbk. 0.272 0.515
289. KEEN Kencana Energi Lestari Tbk. 0.580 0.720
290. KEJU Mulia Boga Raya Tbk. 0.302 0.535
291. KIAS Keramika Indonesia Assosiasi Tbk. 0.246 0.497
292. KICI Kedaung Indah Can Tbk. 0.448 0.632
293. KIJA Kawasan Industri Jababeka Tbk. 0.476 0.651
294. KINO Kino Indonesia Tbk. 1.564 1.376
295. KIOS Kioson Komersial Indonesia Tbk. 0.636 0.757
296. KKGI Resource Alam Indonesia Tbk. 1.654 1.436
297. KMDS Kurniamitra Duta Sentosa Tbk. 0.275 0.516
298. KMTR Kirana Megatara Tbk. 0.047 0.364
299. KOIN Kokoh Inti Arebama Tbk. 0.463 0.642
300. KOPI Mitra Energi Persada Tbk. 0.411 0.607
301. KOTA DMS Propertindo Tbk. 0.250 0.500
302. KPAS Cottonindo Ariesta Tbk. 0.176 0.450
303. KPIG MNC Land Tbk. 0.947 0.965
304. KRAH Grand Kartech Tbk. 0.060 0.374
305. KRAS Krakatau Steel (Persero) Tbk. 1.240 1.160
306. LCGP Laguna Cipta Griya Tbk. 0.021 0.347
307. LEAD Logindo Samudramakmur Tbk. 0.140 0.426
308. LFLO Imago Mulia Persada Tbk. 1.102 1.068
309. LINK Link Net Tbk. 0.717 0.811
310. LMAS Limas Centric Indonesia Tbk. 0.325 0.550
311. LMPI Langgeng Makmur Industri Tbk. 0.140 0.427
312. LPCK Lippo Cikarang Tbk. 0.817 0.878
313. LPIN Multi Prima Sejahtera Tbk. 0.255 0.504
314. LPKR Lippo Karawaci Tbk. 1.279 1.186
315. LPLI Star Pacific Tbk. 0.245 0.497
316. LPPF Matahari Department Store Tbk. 0.125 0.417
317. LSIP PP London Sumatra Indonesia Tbk. 1.543 1.362
318. LTLS Lautan Luas Tbk. 0.434 0.622
319. MAGP Multi Agro Gemilang Plantation Tbk. 0.006 0.337
320. MAIN Malindo Feedmill Tbk. 0.590 0.727

Page 8 of 17
 PEFINDO BETA STOCK
Edition: 18-April-2024

No. TICKER COMPANY RAW BETA ADJUSTED BETA

321. MAPA Map Aktif Adiperkasa Tbk. 1.143 1.095
322. MAPB MAP Boga Adiperkasa Tbk. 0.345 0.563
323. MAPI Mitra Adiperkasa Tbk. 0.591 0.727
324. MARI Mahaka Radio Integra Tbk. 1.303 1.202
325. MARK Mark Dynamics Indonesia Tbk. 1.673 1.448
326. MASA Multistrada Arah Sarana Tbk. 1.670 1.447
327. MAYA Bank Mayapada Internasional Tbk. 0.730 0.820
328. MBAP Mitrabara Adiperdana Tbk. 1.036 1.024
329. MBSS Mitrabahtera Segara Sejati Tbk. 0.882 0.921
330. MCAS M Cash Integrasi Tbk. 1.008 1.005
331. MCOR Bank Windu Kentjana International Tbk. 0.749 0.832
332. MDIA Intermedia Capital Tbk. 0.730 0.820
333. MDKA Merdeka Copper Gold Tbk. 2.059 1.706
334. MDKI Emdeki Utama Tbk. 0.421 0.614
335. MDLN Modernland Realty Ltd. Tbk. 1.861 1.574
336. MEDC Medco Energi International Tbk. 1.419 1.279
337. MEGA Bank Mega Tbk. 0.627 0.751
338. MERK Merck Tbk. 0.641 0.761
339. META Nusantara Infrastructure Tbk. 0.204 0.469
340. MFIN Mandala Multifinance Tbk. 0.433 0.622
341. MFMI Multifiling Mitra Indonesia Tbk. 0.579 0.719
342. MGRO Mahkota Group Tbk. 0.026 0.351
343. MICE Multi Indocitra Tbk. 0.609 0.739
344. MIDI Midi Utama Indonesia Tbk. 0.037 0.358
345. MITI Mitra Investindo Tbk. 0.698 0.799
346. MLBI Multi Bintang Indonesia Tbk. 0.779 0.852
347. MLIA Mulia Industrindo Tbk. 0.435 0.624
348. MLPL Multipolar Tbk. 0.031 0.354
349. MLPT Multipolar Technology Tbk. 1.507 1.338
350. MMLP Mega Manunggal Property Tbk. 0.764 0.843
351. MNCN Media Nusantara Citra Tbk. 0.934 0.956
352. MOLI Madusari Murni Indah Tbk. 0.052 0.368
353. MPMX Mitra Pinasthika Mustika Tbk. 0.398 0.599
354. MPPA Matahari Putra Prima Tbk. 1.352 1.234
355. MPRO Propertindo Mulia Investama Tbk. 1.622 1.415
356. MREI Maskapai Reasuransi Indonesia Tbk. 0.123 0.415
357. MSIN MNC Studios International Tbk. 0.986 0.991
358. MSKY MNC Sky Vision Tbk. 1.196 1.131
359. MTDL Metrodata Electronics Tbk. 1.282 1.188
360. MTLA Metropolitan Land Tbk. 0.504 0.669

Page 9 of 17
 PEFINDO BETA STOCK
Edition: 18-April-2024

No. TICKER COMPANY RAW BETA ADJUSTED BETA

361. MTRA Mitra Pemuda Tbk. 0.007 0.338
362. MTWI Malacca Trust Wuwungan Insurance Tbk. 0.007 0.338
363. MYOH Samindo Resources Tbk. 0.086 0.390
364. MYRX Hanson International Tbk. 0.047 0.365
365. NATO Nusantara Properti Internasional Tbk. 0.450 0.633
366. NELY Pelayaran Nelly Dwi Putri Tbk. 0.312 0.541
367. NFCX NFC Indonesia Tbk. 0.150 0.434
368. NIKL Pelat Timah Nusantara Tbk. 1.042 1.028
369. NIPS Nipress Tbk. 0.198 0.465
370. NIRO Nirvana Development Tbk. 0.030 0.353
371. NISP Bank OCBC NISP Tbk. 0.676 0.784
372. NOBU Bank Nationalnobu Tbk. 0.774 0.849
373. NPGF Nusa Palapa Gemilang Tbk. 0.647 0.765
374. NRCA Nusa Raya Cipta Tbk. 0.313 0.542
375. NUSA Sinergi Megah Internusa Tbk. 0.146 0.431
376. OASA Protech Mitra Perkasa Tbk. 0.343 0.562
377. OCAP Onix Capital Tbk. 0.063 0.375
378. OKAS Ancora Indonesia Resources Tbk. 1.475 1.317
379. OMRE Indonesia Prima Property Tbk. 0.232 0.488
380. OPMS Optima Prima Metal Sinergi Tbk. 0.020 0.347
381. PALM Provident Agro Tbk. 2.103 1.735
382. PAMG Bima Sakti Pertiwi Tbk. 0.392 0.595
383. PANR Panorama Sentrawisata Tbk. 2.486 1.991
384. PANS Panin Sekuritas Tbk. 0.484 0.656
385. PBID Panca Budi Idaman Tbk. 0.187 0.458
386. PBRX Pan Brothers Tbk. 1.686 1.457
387. PBSA Paramita Bangun Sarana Tbk. 1.375 1.250
388. PDES Destinasi Tirta Nusantara Tbk. 0.744 0.830
389. PEGE Panca Global Securities Tbk. 0.858 0.906
390. PEHA Phapros Tbk. 0.777 0.851
391. PGAS PT Perusahaan Gas Negara Tbk. 1.205 1.137
392. PGJO Tourindo Guide Indonesia Tbk. 0.173 0.449
393. PGLI Pembangunan Graha Lestari Indah Tbk. 0.454 0.636
394. PGUN Pradiksi Gunatama Tbk. 0.448 0.632
395. PICO Pelangi Indah Canindo Tbk. 0.798 0.865
396. PJAA Pembangunan Jaya Ancol Tbk. 0.514 0.676
397. PKPK Perdana Karya Perkasa Tbk. 2.086 1.724
398. PLAN Planet Properindo Jaya Tbk. 0.986 0.991
399. PLIN Plaza Indonesia Realty Tbk. 0.257 0.504
400. PMJS Putra Mandiri Jembar Tbk. 0.520 0.680

Page 10 of 17
 PEFINDO BETA STOCK
Edition: 18-April-2024

No. TICKER COMPANY RAW BETA ADJUSTED BETA

401. PMMP Panca Mitra Multiperdana Tbk. 0.203 0.468
402. PNBN Bank Pan Indonesia Tbk. 1.153 1.102
403. PNBS Bank Panin Syariah Tbk. 0.365 0.577
404. PNGO Pinago Utama Tbk. 0.004 0.336
405. PNIN Panin Insurance Tbk. 0.907 0.938
406. PNLF Panin Financial Tbk. 0.372 0.581
407. PNSE Pudjiadi & Sons Tbk. 2.115 1.743
408. POLA Pool Advista Finance Tbk. 0.519 0.680
409. POLL Pollux Properti Indonesia Tbk. 1.936 1.624
410. POLU Golden Flower Tbk. 0.021 0.347
411. POLY Asia Pacific Fibers Tbk. 1.457 1.304
412. POOL Pool Advista Indonesia Tbk. 0.324 0.549
413. PORT Nusantara Pelabuhan Handal Tbk. 1.197 1.132
414. POSA Bliss Properti Indonesia Tbk. 0.165 0.443
415. POWR Cikarang Listrindo Tbk. 0.331 0.554
416. PPGL Prima Globalindo Logistik Tbk. 0.007 0.338
417. PPRE PP Presisi Tbk. 1.325 1.217
418. PPRO PP Properti Tbk. 0.530 0.687
419. PRAS Prima Alloy Steel Universal Tbk. 0.280 0.520
420. PSAB J Resources Asia Pasifik Tbk. 0.868 0.912
421. PSDN Prasidha Aneka Niaga Tbk. 1.093 1.062
422. PSGO Palma Serasih Tbk. 1.314 1.209
423. PSKT Pusako Tarinka Tbk. 2.147 1.765
424. PSSI Pelita Samudera Shipping Tbk. 0.390 0.593
425. PTBA Tambang Batubara Bukit Asam (Persero) Tbk. 0.811 0.874
426. PTDU Djasa Ubersakti Tbk. 0.191 0.460
427. PTPP PP (Persero) Tbk. 1.791 1.527
428. PTPW Pratama Widya Tbk. 0.104 0.403
429. PTRO Petrosea Tbk. 0.872 0.915
430. PTSN Sat Nusapersada Tbk. 0.285 0.523
431. PTSP Pioneerindo Gourmet International Tbk. 2.015 1.677
432. PUDP Pudjiadi Prestige Tbk. 1.466 1.311
433. PURE Trinitan Metals and Minerals Tbk. 0.242 0.495
434. PURI Puri Global Sukses Tbk. 0.789 0.860
435. PWON Pakuwon Jati Tbk. 1.055 1.037
436. PYFA Pyridam Farma Tbk. 0.287 0.525
437. PZZA Sarimelati Kencana Tbk. 0.445 0.630
438. RAJA Rukun Raharja Tbk. 1.472 1.315
439. RALS Ramayana Lestari Sentosa Tbk. 1.183 1.122
440. RANC Supra Boga Lestari Tbk. 1.095 1.063

Page 11 of 17
 PEFINDO BETA STOCK
Edition: 18-April-2024

No. TICKER COMPANY RAW BETA ADJUSTED BETA

441. RBMS Ristia Bintang Mahkotasejati Tbk. 0.327 0.552
442. RDTX Roda Vivatex Tbk. 0.307 0.538
443. RIGS Rig Tenders Indonesia Tbk. 0.157 0.438
444. RIMO Rimo International Lestari Tbk. 0.047 0.365
445. ROCK Rockfields Properti Indonesia Tbk. 0.382 0.588
446. RODA Pikko Land Development Tbk. 1.067 1.045
447. RONY Aesler Grup Internasional Tbk. 0.505 0.670
448. ROTI Nippon Indosari Corpindo Tbk. 0.106 0.404
449. RUIS Radiant Utama Interinsco Tbk. 0.204 0.469
450. SAFE Steady Safe Tbk. 1.479 1.320
451. SAME Sarana Meditama Metropolitan Tbk. 0.705 0.804
452. SAPX Satria Antaran Prima Tbk. 0.244 0.496
453. SCMA Surya Citra Media Tbk. 0.981 0.987
454. SCNP Selaras Citra Nusantara Perkasa Tbk. 0.110 0.407
455. SDMU Sidomulyo Selaras Tbk. 1.437 1.291
456. SDRA Bank Woori Saudara Indonesia 1906 Tbk. 0.216 0.477
457. SFAN Surya Fajar Capital Tbk. 0.226 0.484
458. SGER Sumber Global Energy Tbk. 2.118 1.745
459. SGRO Sampoerna Agro Tbk. 1.039 1.026
460. SHID Hotel Sahid Jaya International Tbk. 0.473 0.649
461. SIDO Industri Jamu dan Farmasi Sido Muncul Tbk. 0.223 0.482
462. SIMA Siwani Makmur Tbk. 0.459 0.639
463. SIMP Salim Ivomas Pratama Tbk. 0.857 0.904
464. SKBM Sekar Bumi Tbk. 1.335 1.224
465. SKRN Superkrane Mitra Utama Tbk. 0.443 0.629
466. SKYB Skybee Tbk. 0.036 0.358
467. SMAR Smart Tbk. 0.567 0.711
468. SMBR Semen Baturaja (Persero) Tbk. 1.563 1.375
469. SMCB Holcim Indonesia Tbk. 0.141 0.427
470. SMDM Suryamas Dutamakmur Tbk. 0.535 0.690
471. SMDR Samudera Indonesia Tbk. 0.921 0.948
472. SMGR Semen Indonesia (Persero) Tbk. 0.655 0.770
473. SMKL Satyamitra Kemas Lestari Tbk. 0.063 0.375
474. SMMT Golden Eagle Energy Tbk. 1.849 1.566
475. SMRA Summarecon Agung Tbk. 0.731 0.821
476. SMRU SMR Utama Tbk. 0.310 0.540
477. SMSM Selamat Sempurna Tbk. 0.505 0.670
478. SNLK Sunter Lakeside Hotel Tbk. 1.861 1.574
479. SOCI Soechi Lines Tbk. 0.717 0.811
480. SOFA Boston Furniture Industries Tbk. 1.468 1.312

Page 12 of 17
 PEFINDO BETA STOCK
Edition: 18-April-2024

No. TICKER COMPANY RAW BETA ADJUSTED BETA

481. SOSS Shield On Service Tbk. 0.630 0.753
482. SOTS Satria Mega Kencana Tbk. 1.362 1.241
483. SPMA Suparma Tbk. 0.006 0.337
484. SPTO Surya Pertiwi Tbk. 0.419 0.613
485. SQMI Renuka Coalindo Tbk. 1.348 1.232
486. SRAJ Sejahteraraya Anugrahjaya Tbk. 0.160 0.440
487. SRIL Sri Rejeki Isman Tbk. 0.145 0.430
488. SRSN Indo Acidatama Tbk. 0.310 0.540
489. SRTG Saratoga Investama Sedaya Tbk. 2.753 2.169
490. SSIA Surya Semesta Internusa Tbk. 0.546 0.697
491. SSMS Sawit Sumbermas Sarana Tbk. 1.023 1.015
492. SSTM Sunson Textile Manufacture Tbk. 0.569 0.713
493. STAR Star Petrochem Tbk. 0.240 0.494
494. STTP Siantar Top Tbk. 0.146 0.431
495. SUPR Solusi Tunas Pratama Tbk. 1.780 1.520
496. SWAT Sriwahana Adityakarta Tbk. 1.525 1.350
497. TALF Tunas Alfin Tbk. 0.189 0.459
498. TAMA Lancartama Sejati Tbk. 0.915 0.943
499. TAPG Triputra Agro Persada Tbk. 0.871 0.914
500. TAXI Express Transindo Utama Tbk. 0.429 0.620
501. TBIG Tower Bersama Infrastructure Tbk. 0.240 0.493
502. TBLA Tunas Baru Lampung Tbk. 0.522 0.681
503. TCID Mandom Indonesia Tbk. 0.304 0.536
504. TCPI Transcoal Pacific Tbk. 0.090 0.394
505. TDPM Tridomain Performance Materials Tbk. 0.014 0.343
506. TEBE Dana Brata Luhur Tbk. 0.866 0.911
507. TECH Indosterling Technomedia Tbk. 0.050 0.367
508. TELE Tiphone Mobile Indonesia Tbk. 0.985 0.990
509. TFCO Tifico Fiber Indonesia Tbk. 0.223 0.482
510. TGRA Terregra Asia Energy Tbk. 0.747 0.831
511. TINS Timah (Persero) Tbk. 1.670 1.446
512. TIRT Tirta Mahakam Resources Tbk. 1.629 1.419
513. TKIM Pabrik Kertas Tjiwi Kimia Tbk. 0.990 0.993
514. TLKM Telekomunikasi Indonesia (Persero) Tbk. 1.003 1.002
515. TMPO Tempo Intimedia Tbk. 0.251 0.500
516. TNCA Trimuda Nuansa Citra Tbk. 1.033 1.022
517. TOBA Toba Bara Sejahtra Tbk. 1.923 1.616
518. TOTL Total Bangun Persada Tbk. 0.601 0.734
519. TOTO Surya Toto Indonesia Tbk. 0.504 0.669
520. TPIA Chandra Asri Petrochemical Tbk. 1.717 1.478

Page 13 of 17
 PEFINDO BETA STOCK
Edition: 18-April-2024

No. TICKER COMPANY RAW BETA ADJUSTED BETA

521. TPMA Trans Power Marine Tbk. 0.572 0.715
522. TRIM Trimegah Securities Tbk. 2.275 1.850
523. TRIN Perintis Triniti Properti Tbk. 1.488 1.325
524. TRIO Trikomsel Oke Tbk. 0.854 0.903
525. TRJA Transkon Jaya Tbk. 0.527 0.685
526. TRST Trias Sentosa Tbk. 0.271 0.514
527. TRUK Guna Timur Raya Tbk. 1.142 1.094
528. TRUS Trust Finance Indonesia Tbk. 0.586 0.724
529. TSPC Tempo Scan Pacific Tbk. 0.125 0.417
530. TUGU Asuransi Tugu Pratama Indonesia Tbk. 1.348 1.232
531. UANG Pakuan Tbk. 0.662 0.774
532. UCID Uni-Charm Indonesia Tbk. 0.403 0.602
533. UNIC Unggul Indah Cahaya Tbk. 0.248 0.498
534. UNIT Nusantara Inti Corpora Tbk. 0.419 0.613
535. UNSP Bakrie Sumatra Plantations Tbk. 1.182 1.122
536. UNTR United Tractors Tbk. 1.407 1.271
537. URBN Urban Jakarta Propertindo Tbk. 0.723 0.815
538. VICI Victoria Care Indonesia Tbk. 0.953 0.968
539. VICO Victoria Investama Tbk. 0.767 0.845
540. VIVA Visi Media Asia Tbk. 0.537 0.691
541. VOKS Voksel Electric Tbk. 0.191 0.460
542. VRNA Verena Multi Finance Tbk. 0.567 0.711
543. WEGE Wijaya Karya Bangunan Gedung Tbk. 0.971 0.981
544. WEHA WEHA Transportasi Indonesia Tbk. 1.283 1.188
545. WIIM Wismilak Inti Makmur Tbk. 0.183 0.456
546. WIKA Wijaya Karya (Persero) Tbk. 1.218 1.146
547. WINS Wintermar Offshore Marine Tbk. 0.769 0.846
548. WMUU Widodo Makmur Unggas Tbk. 1.435 1.290
549. WOMF Wahana Ottomitra Multiartha Tbk. 0.921 0.947
550. WOOD Integra Indocabinet Tbk. 1.232 1.155
551. WOWS Ginting Jaya Energi Tbk. 0.168 0.446
552. WSBP Waskita Beton Precast Tbk. 0.692 0.795
553. WSKT Waskita Karya (Persero) Tbk. 1.524 1.349
554. WTON Wijaya Karya Beton Tbk. 1.308 1.205
555. YELO Yelooo Integra Datanet Tbk. 1.807 1.538
556. YPAS Yanaprima Hastapersada Tbk. 1.816 1.544
557. YULE Yulie Sekurindo Tbk. 0.616 0.744
558. ZBRA Zebra Nusantara Tbk. 0.426 0.618
559. ZINC Kapuas Prima Coal Tbk. 0.408 0.605
560. ZONE Mega Perintis Tbk. 0.116 0.411

Page 14 of 17
 PEFINDO BETA STOCK
Edition: 18-April-2024

No. TICKER COMPANY RAW BETA ADJUSTED BETA

561. ZYRX Zyrexindo Mandiri Buana Tbk. 1.827 1.552

Page 15 of 17
 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 16 of 17
 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 17 of 17