Jakarta, CNBC Indonesia – Post-holiday, the Composite Stock Price Index (JCI) ended in the red zone at the end of the first trading session Monday (9/5/2022), affected by various bad sentiments at home and abroad in the past week.
Opened lying in the red zone, the JCI was observed to have fallen to 4.01% at 10.06 WIB, before finally being able to cut a slight correction at the close of the first session which closed down 3.88% to the level of 6,948.31 and is still below the psychological level of 7,000 .
The trading value fell to Rp 15 trillion by involving more than 15 billion shares that changed hands about 1 million times.
The majority of stocks weakened as many as 421 units, while 151 others rose and the remaining 117 were flat. On the other hand, foreign investors scored a net buy of Rp 1.69 trillion.
Weakening stocks include those owned by Indonesian tycoons, which in the end of course makes their wealth from share ownership shrink.
Here’s a list of some of the tycoons whose fortunes have eroded in today’s trading.
Hartono Family
The Hartono family’s wealth has lost around Rp. 30 trillion due to bad trade this morning. Bank BCA (BBCA) which is the largest issuer on the Indonesia Stock Exchange (IDX), its shares fell 5.54% or its market capitalization evaporated to Rp 55.51 trillion.
The Hartono family, who are the owners of PT Dwimuria Investama Andalan which is the controller of BCA with 55.94% ownership, experienced a decline in their wealth of Rp. 31 trillion.
Not only BBCA, other issuers of the Djarum Group controlled by the Hartono family also suffered the same fate as Sarana Menara Nusantara (TOWR) which fell 2.97% and Supra Boga Lestari (RANC) touched the limit. auto rejection bottom (ARB), corrected 6.89%.
Sariaatmadja family
The media conglomerate who started to venture into the technology sector, Eddy Kusnadi Sariaatmadja, also witnessed his wealth evaporate in today’s trading. Elang Mahkota Teknologi (EMTK) shares were closed by ARB with a reduced market capitalization of Rp 12.63 trillion. This means that Eddy, who directly owns 23% of EMTK’s shares, has reduced his wealth of Rp. 2.90 trillion from the trading of EMTK’s shares.
In fact, the reduction in the Sariaatmadja family’s wealth was even greater, considering that other issuers belonging to the Emtek group also experienced significant declines. Today’s SCMA shares closed down 5.51% to Rp 240/share, while Bukalapak.com (BUKA) shares closed ARB 6.81%, down to Rp 356/share. Meanwhile, the publicly-controlled RS issuer, SAME, fell 5.51%.
Sandiaga Uno and Edwin Soeryadjaya
The investment issuer belonging to the Indonesian Minister of Tourism Sandiaga Uno and his business partner Edwin Soeryadjaya, Saratoga Investama Sedaya (SRTG) weakened 3.85% or lost Rp 1.90 trillion in market capitalization in today’s trading. Meanwhile, the mining company controlled by the Saratoga Group, namely Merdeka Copper Gold (MDKA), weakened 5.66% or its market capitalization evaporated to Rp 7.23 trillion.
Saratoga is known to own 17.38% of MDKA’s shares, while Sandiaga Uno and Edwin are known to own 21.51% (2.92 billion) and 33.10% (4.49 billion) of SRTG’s shares, respectively. This means that from the transactions in the two shares, Sandiaga’s wealth today evaporated by around Rp. 679 billion, while Edwin’s assets decreased by Rp. 1.04 trillion.
Boy Thohir
Indonesian mining tycoon Garibaldi ‘Boy’ Thohir also suffered a similar fate. This weakness occurred in all segments of its business portfolio, which now includes technology companies.
Adaro Minerals, which experienced a crazy rally since the beginning of the year today, experienced ARB, although it was finally able to cut trading losses at -4.76% with a reduced market capitalization of Rp 5.31 trillion. Furthermore, Adaro Energy’s (ADRO) shares also fell 3.59% or their valuation decreased by Rp 3.83 trillion.
Meanwhile, the share in GOTO which he also owns – although the figure is not significant – its market capitalization decreased by IDR 19.97 trillion (-6.62%).
Meanwhile, two shares owned directly by Boy Thohir, namely Trimegah Sekuritas Indonesia (TRIM) fell 3.64% and MDKA was corrected 5.66%. Of MDKA alone whose shares are owned by 8.34%, Boy Thohir’s wealth has evaporated around Rp 603 billion.
The amount of Boy Thohir’s assets that are reduced due to the lack of lively trading today will certainly be much greater, considering that the other stocks previously mentioned also experienced significant declines today.
CNBC INDONESIA RESEARCH TEAM
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