Jakarta, CNBC Indonesia – The fate of the Jakarta Composite Index (IHSG) is in luck this week. The news that Joe Biden, who was seeded in the US presidential election, caused the flow of foreign capital to flood the domestic capital market.
Foreigners recorded a net purchase of national equity assets worth Rp 1.2 trillion across markets this week. JCI closed with an impressive performance and appreciation of 4.31%. When the JCI was closed happily on the weekend, there were five stocks that gave fantastic returns with a capital gain of more than 45%.
The stock with the highest appreciation was PT Bank Harda Internasional Tbk (BBHI). This share jumped 91.03% in a week after the announcement of the planned acquisition by Mega Corpora owned by famous businessman Chairul Tanjung.
Last week to be precise on Tuesday (27/10/2020), the price of one unit of BBHI’s shares was still priced at Rp. 156. However, at the close of yesterday, the price of BBHI’s shares had shot up to the level of Rp.
A day after the planned acquisition was announced, BBHI’s share price immediately shot up to the upper auto reject level (ARA). On Wednesday this week BBHI shares flew back and broke the ARA level again.
The same trend occurred on Thursday. The highest intraday trading price for BBHI is IDR 344 / unit which implies three times the ARA when compared to the previous week’s closing position.
With a return of 91%, if initially you have a Honda Vario worth IDR 17.7 million / unit, within a week your capital can buy you a Honda CBR unit for IDR 33-34 million.
In the disclosure of information submitted to the IDX, it was stated that Mega Corpora would be the party that would take over.
“Supporting banking policies in Indonesia and will develop the company to become a bank in accordance with applicable regulations both in terms of operations and capital,” said the agreement letter between the two parties, which was published on the IDX, Monday (2/11/2020).
BBHI will hold an extraordinary general meeting of shareholders (EGMS) to approve this sale and purchase transaction. After that, Mega Corpora will apply for a takeover permit to the Financial Services Authority (OJK).
Apart from BBHI, there are four other stocks that also provide very high returns of more than 45%. In second place is PT Prima Cakrawala Abadi Tbk (PCAR) which has shot 63.71% in the past week.
Previously, this fish processing company which has factories in Semarang, Indramayu and Makassar had also flown 80% in a month to be precise since the end of July.
For information, PCAR shares are one of the portfolios previously owned by PT Jiwasraya. Currently Jiwasraya is no longer the majority shareholder. However, Asabri still owns 25.13 percent of shares in the company.
In third place there is an issuer owned by a businessman and politician from the Perindo Party, Harry Tanoesoedibjo, namely PT MNC Investama Tbk, which is coded BHIT. This stock seemed to have risen from the grave at the gocap level (IDR 50 / unit) after the buyback issue was announced by the company director to the IDX and OJK.
Darma Putra as the main director of MNC Investama said the buyback will be carried out in three months starting from November to February next year.
Then in fourth position there are shares of property issuers, namely PT Perintis Triniti Property Tbk (TRIN) whose prices have shot up 48.44%. Then in the last position there are shares of PT Pembangunan Graha Lestari Indah Tbk (PGLI) which is engaged in the hotel operator sector.
PGLI shares shot up 45.98% in a week from IDR 174 / unit to IDR 254 / unit. However, PGLI’s shares are classified as illiquid stocks
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