Jakarta, CNBC Indonesia – More than 100 shares received a special notation from the Indonesia Stock Exchange (IDX) until May 31, 2022. Seven of them are issuers affiliated with the Bakrie Group.
As is well known, many of the stock prices of issuers belonging to the Bakrie Group arelean‘ alias is at the gocap level (Rp 50/unit) which is the lowest price in the regular market.
A total of 6 of the 7 issuers belonging to the Bakrie Group that received a special notation from the IDX fall into criteria 1 if it refers to Rule Number II-S concerning Trading of Equity Securities Under Special Monitoring.
Criterion 1 means that the average share price for the last 6 months in the Regular Market is less than IDR 51/unit.
The six stocks are PT Bakrie & Brothers Tbk (BNBR), PT Bakrie Telecom Tbk (BTEL), PT Bakrieland Development Tbk (ELTY), PT Intermedia Capital Tbk (MDIA), PT Graha Andrasentra Propertindo Tbk (JGLE) and PT Visi Media Asia. Tbk (VIVA).
To note, the six issuers are engaged in different sectors. Especially for BTEL shares, they immediately received 3 special notations.
Referring to the IDX announcement, BTEL’s shares are included in criteria points 1, 5 and 7. Criterion 5 indicates that the company’s equity in the latest financial statements is negative.
Negative equity means that in terms of capital structure, the total liabilities of the company far exceed its capital. In fact, all assets owned are financed by debt.
In addition to being in criterion number 5, BTEL shares are also included in criterion number 7, which is to have very low transaction liquidity.
The average daily transaction value of BTEL shares is less than Rp 5 million and the daily transaction volume of shares does not reach 10,000 shares in the last 6 months on the regular market.
Lastly, there are shares of PT Bakrie Sumatera Plantations Tbk (UNSP) which also received special monitoring from the IDX.
UNSP shares have the same characteristics as BTEL shares, namely they have negative equity in the latest financial statements. So that UNSP shares are in the point 5 category.
The following is a list of shares of the Bakrie Group issuers that have received special monitoring from the IDX and the reasons for this.
|
Bakrie Group Issuers |
Criteria |
Information |
|
BNBR |
1 |
Average price for 6 months is less than IDR 51/unit |
|
BTEL |
1,5,7 |
6 month average price less than IDR 51/unit, negative equity, low liquidity |
|
JGLE |
1,7 |
Average price for 6 months is less than IDR 51/unit, low liquidity |
|
ELTY |
1 |
Average price for 6 months is less than IDR 51/unit |
|
DAY M |
1 |
Average price for 6 months is less than IDR 51/unit |
|
UNSP |
5 |
Negative equity |
|
VIVA |
1 |
Average price for 6 months is less than IDR 51/unit |
CNBC INDONESIA RESEARCH TEAM
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