Jakarta, CNBC Indonesia – The Ministry of State-Owned Enterprises (BUMN) stated that the transformation steps currently being carried out in state-owned companies have become positive sentiment among market players in recent times.
BUMN Minister Erick Thohir said this positive response was shown by the purchase of BUMN shares over the last few years, which even exceeded the increase in the LQ45 index.
It turned out that what Erick said was true. This is shown by the ability of the BUMN20 index, which is usually the benchmark for the performance of state-owned companies, which has managed to rally 19.67% in the past month.
The increase in the BUMN20 index was much higher than other benchmark indexes such as the LQ45 which was only able to fly 13.13%, even far from leaving the Jakarta Composite Index (JCI) which was ‘only’ able to fly 8.90%.
Actually, which BUMN is the winner of the shares with ultimate shareholder Government of the Republic of Indonesia for the past month? Is it true that it is being ‘hot’ traded? Consider the following table.
Trade data recorded, during the last month there were 12 emitters with ultimate shareholder The Government of the Republic of Indonesia, which has managed to fly over 20% and indeed, on average, these issuers will soon hold corporate actions or receive specific positive sentiments.
The increase itself was led by PT Garuda Indonesia Tbk (GIAA) which managed to fly 60.66% and its subsidiary which was also included in this list, namely PT Garuda Maintenance Facility Aero Area Tbk (GMFI) which rose 26.25%.
The increase in the two shares certainly cannot be separated from the formation of a tourism holding by the Ministry of BUMN. With the establishment of a tourism holding, of course this is good news for GIAA, which will later become a subsidiary of the holding.
Later, if they need fresh funds, the tourism holding can issue bonds where the holding power will be stronger than if GIAA issued the bonds themselves so that the cost of funds can be reduced.
Furthermore, the issuers PT Timah Tbk and PT Aneka Tambang Tbk (ANTM) which are members of the mining holding holding RI Mind ID also made it into this list with an increase of 41.61% and 31.61%, respectively.
The increase in the two shares occurred after the government’s plan to form Holding Indonesian Battery in which the two companies were predicted to play an important role in holding with an investment value. proyek electric vehicle battery factory that is estimated to be worth US $ 20 billion (Rp 296 trillion, assuming an exchange rate of Rp 14,800 / US $).
In addition, there was also the name of the bank with the largest total assets in Indonesia, PT Bank Rakyat Indonesia Tbk (BBRI), which managed to shoot 24.31% for a month.
Rising stock BBRI Of course, it cannot be separated from the new company announced a major corporate action plan that will soon done.
It is not clear what corporate action will be carried out by this BBRI but of course the investors can already smell this corporate action from long ago.
The trail of corporate action BBRI was abandoned at the end of October when it was the deadline for the collection of Q3 financial reports. BBRI announced that it will audit the report finances so that the deadline for submitting the audit results financial statements was extended.
A question mark certainly arises in the minds of market players because third quarter financial reports are not required to be audited, if a company audits financial statements, there will usually be massive corporate action.
Even traces of corporate action BBRI can be examined until early 2020. At that time, the Minister of BUMN, Erick Thohir, as the majority shareholder in BRI as a representative of the Government of Indonesia, has provided guidance on the direction of development BRI forward.
This was conveyed by Erick when he was a speaker at the event CNBC Indonesia Economic Outlook in February 2020. Erick said the Ministry of BUMN would synergize BRI with Pawnshops and National Madani Capital (PNM).
“We’ve had a meeting with BRIWe want to ensure that this June there will be a tremendous synergy with Pegadaian (PT Pegadaian) and PMN (PT Permodalan Nasional Madani). So it is clear, there is no more overlapping policies there, and the target market is clear, if this happens, BRI will be an extraordinary bank. Buy the shares quickly! “Said Erick at that time.
From the table above, it means that it has been proven that BUMN shares in the last month have shot high, but are BUMN shares really being ‘hot’ traded? Consider the following table.
Trade data recorded that it was true that during October the most traded stocks as indicated by the shares with the largest trading transaction value on the IDX were BUMN shares.
How not, 4 of the 5 most traded stocks on the IDX are stocks with the ultimate shareholder of the Government of Indonesia.
Recorded in the second position appear BBRI issuers with a total transaction of Rp 9.38 trillion, then there is PT Telekomunikasi Indonesia Tbk (TLKM) with a total transaction of Rp 8.67 trillion, while in the fourth and fifth positions there are ANTM and PT Bank BRISyariah Tbk (BRIS) with total transactions of Rp. 8.58 and Rp. 7.86 trillion, respectively.
CNBC INDONESIA RESEARCH TEAM
(trp/trp)
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