Jakarta, CNBC Indonesia – State-owned insurance company PT Asabri (Persero) has again reduced its ownership in PT Bank Neo Commerce Tbk (BBYB) shares as stated in an information disclosure published by the Indonesia Stock Exchange (IDX) on 13 July.
This BUMN, which is engaged in social insurance and special pension payments for TNI soldiers, members of the National Police, and civil servants (PNS) of the Ministry of Defense (Kemenhan) has sold 18 million shares of BBYB so that its ownership decreased from 13.09% to 12.85 % or 963 million BBYB shares.
The sale of Asabri in BBYB’s shares was actually not only done last week. Since the beginning of the year Asabri has been slowly making sales at the bank, which had just changed its name from the previous Bank Yudha Bakti.
At the beginning of the year, Asabri still held 18.5% of BBYB’s shares. Action take profit Asabri in BBYB shares is reasonable considering that this stock has shot up 113% since the beginning of the year due to digital bank sentiment.
As for the issuer of the BUKU II bank owned by Asabri, it has indeed accelerated this year, but what about the other Asabri stocks.
Is the BBYB’s fate able to accelerate, or is the performance less than satisfactory this year?
See the following table.
From 20 Asabri shares with ownership above 5% according to KSEI data as of July 14, 2021, 5 of them had positive performance and 7 had to be corrected. The remaining 8 are still stagnant because they are still at the lowest level permitted by the regulator of Rp 50/unit aka gocap.
The increase in Asabri shares was led by BBYB, which since the beginning of the year has shot up 112.93%. As of July 14, Asabri holds 12.85% of BBYB’s shares.
Furthermore, in second place is PT Island Concepts Indonesia Tbk (ICON) which has flown 25.68% since the beginning of the year.
IDX data shows Asabri owns 5.02% of ICON’s shares. Furthermore, in the third position, PT Sanurhasta Mitra Tbk (MINA) which has increased by 20% where Asabri owns 5.30% of MINA’s shares.
Meanwhile, the shares with the worst corrections fell to PT Alfa Energi Investama Tbk (FIRE), which fell 64.55%. Asabri owns 23.60% of FIRE’s shares. Furthermore, PT Prima Cakrawala Abadi Tbk (PCAR) shares have fallen by 40.54% with Asabri’s 25.14% ownership in it.
Meanwhile, several other stocks are ‘stuck’ (and are still being suspended by the IDX) related to the scandal that is being investigated by the Attorney General’s Office (AGO) in Cases of Alleged Corruption Crimes (Tipikor).
The AGO said that the total value of state losses in the alleged corruption case of Asabri reached Rp 22.78 trillion.
CNBC INDONESIA RESEARCH TEAM
(RCI / RCI)
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