3 Hotel Shares and DGIK Become Winners, Duo Lippo Desperate

Jakarta, CNBC Indonesia – In the midst of the Composite Stock Price Index (JCI) rising 4%, there are a number of stocks that soared high and also ‘loser’ stocks in a week.

According to the Indonesia Stock Exchange (IDX), the JCI managed to climb 4.06% to position 6,481.77 this week with a total transaction value of Rp 89.73 trillion.

Along with the increase in the JCI, foreigners made a net purchase of Rp 10.31 trillion in the regular market and a net purchase of Rp 360.26 billion in the negotiated and cash market.

The stock index of the non-cyclical consumer goods sector led the other sectoral indexes, at 6.58%. Then, secondly, the energy stock index also boosted the JCI by rising 4.87% in a week.

Here are the top gainers and top losers for the week (4-8 October 2021).

Top Gainers of the Week

Top Losers of the Week

Source: Indonesia Stock Exchange (IDX)

According to the data above, there are 3 issuers that have business fields in the hotel business in the top gainers row, namely PNSE, FITT, and ESTA.

PNSE shares lead the list of top gainers by soaring 154.51% in the week. Meanwhile, FITT rose 76.06%, and ESTA soared 46.02%.

The three stocks have a relatively mini market capitalization value (market cap). PNSE shares have a market cap of Rp 722.02 billion, FITT of Rp 150.01 billion, and ESTA ‘only’ Rp 103.95 billion.

Along with hotel stocks, construction stocks DGIK climbed 48.05% for the week. The increase in DGIK shares occurred amid the plan of the controlling shareholder of the pharmaceutical and medical device issuer, PT Itama Rayonara Tbk (IRRA), namely PT Global Dinamika Kencana, which will take over 51.85% of the company’s shares.

Previously, Global Dinamika bought DGIK shares from old investors, namely PT Lintas Kebayoran Lama as much as 34.12%, PT Loasaindo Aditama 7.6%, PT Rezeki Segitiga Emas as much as 9.32% and PT Multidaya Hutama Indokarunia 0.81%, so that the total shares taken over were 51.85%.

The share purchase process was completed on October 6, 2021. The takeover price is at the level of Rp 80/share, bringing the total transaction to Rp 229.84 billion. This price is higher than the market price on Wednesday (6/10), which is Rp. 77/share.

Meanwhile, Global Dinamika Kencana is the controlling company of IRRA with ownership of 69.75% shares as of June 2021.

Global Dinamika Management stated that the purpose of this takeover/control is for business development and strengthening the company’s business business in the construction services sector.

Lippo Miserable Duo

In contrast to fate, two Lippo Group shares, MLPL and its subsidiary, which manages MPPA Hypermart, were among the top losers, despite positive sentiment from the entry of a new investor, Gojek.

MLPL shares fell 25.36% to Rp 418/share during the week.

With this, MLPL shares have been immersed in the red zone for 6 consecutive days, with 4 of them touching the lower auto rejection limit (ARB) of 7%.

The latest news is that the company controlled by the Riady family from the Lippo Group, PT Inti Anugerah Pratama (IAP) has sold 1.66 billion shares, equivalent to 11.37% ownership in Multipolar. The total proceeds from the sale of these shares reached Rp 805.75 billion.

For three dollars, MPPA shares fell 24.62% during the week. Like MLPL, MPPA’s shares have been sinking for 6 consecutive days, with 4 of them touching ARB.

The weakening occurred again despite getting positive sentiment with the entry of PT Application Karya Anak Bangsa aka Gojek officially becoming a shareholder of 6.74% in MPPA after buying it from MLPL on 4 October.

Multipolar sold 507,142,900 shares at Rp 700/share or equivalent to 6.74% to Gojek.

“Local ownership status, the amount before the transaction is zero, the number after the transaction is 507,142,900 shares,” said MPPA Corporate Secretary Danny Kojongian, in an information disclosure on the IDX, Thursday (7/10/2021).

CNBC INDONESIA RESEARCH TEAM

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