Jakarta, CNBC Indonesia – A total of three issuer shares are included in the special monitoring of the Indonesia Stock Exchange (IDX) for the period of Wednesday, July 21, 2021, adding to the long list of shares in this category from the previous 17 shares to 20 shares.
The three additional new members are shares of PT Tridomain Performance Materials Tbk (TDPM), PT Garuda Indonesia (Persero) Tbk (GIAA), and PT Bank Ina Perdana Tbk (BINA).
Based on the IDX’s official statement, Tuesday (20/7), TDPM is subject to special monitoring criteria number 8, Garuda number 2 and 8, while Bank Ina is included in monitoring criteria number 10.
Number 8 is in the condition that one issuer is requested for Suspension of Debt Payment Obligations (PKPU) or petitioned for bankruptcy. Number 10, namely the condition that the issuer is subject to a temporary suspension of securities trading (suspension) for more than 1 Exchange Day due to trading activities.
As for number 2, the last audited financial report received a disclaimer of opinion (disclaimer).
Previously, TDPM was sued by PKPU by pBank Mandiri Group’s asset management company, PT Mandiri Manajemen Investasi (MMI) through its attorney Raden Suharsanto Raharjo (Suharsanto) from the AKSET Law Office. The PKPU lawsuit was filed at the Central Jakarta Commercial Court on Thursday 8 July 2021.
The PKPU submission was made after the debt restructuring proposal submitted by TDPM due to a default condition on the underlying assets of the Series 147, 151 and 152 Protected Mutual Funds, namely debt securities (Medium Term Notes or MTN) series II issued by TDPM were deemed detrimental to investors.
Meanwhile, Garuda Indonesia airline is studying the PKPU lawsuit filed by the air cargo company, PT My Indo Airlines (MYIA) to the company.
As for Bank INA, its shares have been suspended since July 9, but will reopen on Wednesday, July 21.
The following is a list of 20 issuer stocks that are specifically monitored:
Photo: IDX Special Monitoring 21 July 2021
IDX Special Monitoring 21 July 2021
Since July 19, IDX has officially implemented trading of equity securities under special monitoring. Later, issuers that are included in the special monitoring list will receive an X notation.
IDX Development Director Hasan Fawzi said this was done as an effort by the stock exchange to increase protection for investors in the country’s capital market, increase transparency, especially regarding the fundamental condition of issuers and determine liquidity in addition to ensuring that securities trading can be carried out regularly, fairly and efficiently.
“Effectively starting today, Monday, July 19, 2021, we have implemented trading of equity securities under special monitoring,” Hasan said, in a virtual press conference, Monday (19/7/2021).
Previously, in the implementation of this pre-implementation, IDX has conducted a pre-live final test which was conveyed in an announcement sent via letter No.Peng-00203/BEI.POP/07-2021 on Friday, July 16, 2021.
This refers to Rule Number II-S concerning Trading of Equity Securities under Special Monitoring and in order to provide protection to investors regarding fundamental information and/or liquidity of listed companies (issuers).
Hasan added that later issuers that are included in special monitoring will receive a special notation in the form of a large X code.
The stock listing board will still follow the company’s latest listing using a continuous auction mechanism.
The trading mechanism is also still using the mechanism continuous auction as usual. The difference is in the auto rejection limit with the upper and lower limits of the price set at 10%.
However, during the Covid-19 pandemic, shares listed on the Main Board and Development Board have an auto rejection limit of 10% for the upper limit and 7% for the lower limit.
As for the shares listed on the Acceleration Board, they still follow the trading reference as stated in Rule Number II-V concerning Trading of Equity Securities on the Acceleration Board.
These stocks are also still a constituent in the calculation of the existing index in accordance with the initial or previous constituents.
The IDX stated that there are 11 criteria in assessing these shares for special monitoring.
Photo: Criteria for Equity Securities in Special Monitoring/BEI
Criteria for Equity Securities in Special Monitoring/BEI