Initiation Report SMSM : Dedicated Heavy Equipment Parts Manufacturer - On Behalf of Artha Sekuritas Indonesia.

PT Selamat Sempurna Tbk (SMSM.IJ) is an auto part manufacturer with export focus that produce 3 main products : 1) Filter – under the well-known brand Sakura 2) Radiator – under the brand ADR 3) Body making – focuses only for domestic market. We forecast EPS growth of 12% for 2019F due to the high demand in heavy equipment product both in global and domestic market. We Initiate with Buy recommendation and target price of Rp1,870/share.

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