Hold Your Breath…15 Stocks Hit ARB! Issuer Erick Thohir-Lippo

Jakarta, CNBC Indonesia – Along The Composite Stock Price Index (JCI) closed lower, it was recorded that there were at least 15 large stocks that sank to touch the lower auto rejection limit (ARB) of 7% in today’s trading, Monday (11/10/2021).

According to data from the Indonesia Stock Exchange (IDX), HSG fell 0.34% to 6,459,697 with a transaction value of Rp 16.19 trillion and trading volume of 28.25 billion shares.

Despite the decline in the JCI, foreign investors in the stock market entered the domestic market with a record foreign net purchases of Rp 553.73 billion in the regular market. Meanwhile, foreigners recorded a net buy in the negotiating market and cash market of Rp 349.98 billion.

Here are the top 15 stocks that touched the ARB limit today (11/10).

1. Bank Neo Commerce (BBYB), shares -6.99%, to Rp 1,330/share

2. Mulia Industrindo (MLIA), -6.95%, to Rp 1,740/share

3. Putra Rajawali Kencana (PURA), -6.90%, to IDR 54/share

4. Yanaprima Hastapersada (YPAS), -6.90%, to IDR 540/share

5. Graha Layar Prima (BLTZ), -6.85%, to Rp 3,400/share

6. Mahaka Media (ABBA), -6.81%, to Rp 438/share

7. Natura City Development (CITY) , -6.80%, to Rp 137/share

8. Multistrada Directions Sarana (MASA), -6.79%, to Rp 4,940/share

9. Asuransi Bintang (ASBI), -6.79%, to IDR 302/share

10. IndoSterling Technomedia (TECH), -6.71%, to Rp 7,650/share

11. Multipolar (MLPL), -6.70%, to IDR 390/share

12. Trimuda Nuansa Citra (TNCA), -6.70%, to Rp 835/share

13. Matahari Putra Prima (MPPA), -6.67%, to Rp 700/share

14. Mega Manunggal Property (MMLP), -6.67%, to Rp 560/share

15. Cipta Selera Murni (CSMI), -6.63%, to Rp 3,240/share.

According to the data above, the shares of issuers of banks BBYB fell the most, by 6.99% to Rp 1,330/share. With this, BBYB shares have slumped for 3 days in a row.

As a result, in a week BBYB shares fell 3.27%, while in a month it fell 15.02%.

The latest news is that the fintech company PT Akulaku Silvrr Indonesia, which is supported by the Alibaba Group owned by Crazy Rich China, Jack Ma, has officially become the controller of the issuer BBYB.

This was approved at the second Extraordinary General Meeting of Shareholders (EGMS) last Friday (8/10) to ratify PT Akulaku Silvrr Indonesia as controller of BBYB.

Together with BBYB shares, shares Issuers engaged in transportation and PURA transportation services also fell 6.90%. Practically, with this PURA stock has been immersed in the red zone for 7 trading days in a row.

Previously, PURA shares managed to ‘rise’ and rose as the owner of the Daarul Qur’an Islamic Boarding School and the Paytren Group Ustadz Yusuf Mansur – who collects PURA shares – mentioned the PURA stock code in the latest upload on his personal Instagram account, Monday (27/9). .

This stock last moved on July 1, when it fell from Rp 51/share to gocap level or Rp 50/share. After touching the price of IDR 146/share in early July 2021, PURA shares tended to fall to their lowest level.

Then, the shares of issuers founded by SOE Minister Erick Thohir ABBA also fell 6.81%, continuing the weakening trend for the past two days.

Previously, the stock exchange suspended (temporarily trading) ABBA shares from September 29, 2021 to October 6, 2021 because ABBA had not fulfilled the obligation to submit Financial Statements including payment of fines for late submission of Financial Statements for the period of March 31, 2021. The stock ‘locks’ were opened after ABBA fulfills its obligations.

Not just the above stocks, The stock duo of the Lippo Group collapsed, MLPL and its subsidiary which is the manager of MPPA Hypermart. The two shares fell 6.70% and 6.67%, respectively.

With this, MLPL shares have been red for 7 trading days in a row, with 4 times in a row touching the ARB.

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 have also fallen for 7 trading days in the red zone, with 5 consecutive times breaking the ARB limit.

The weakening of the MPPA occurred again despite getting positive sentiments with the entry of PT Application Karya Anak Bangsa alias 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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