Jakarta, CNBC Indonesia – PT Adhi Karya Tbk (ADHI) shares led the strengthening of BUMN construction stocks after on Monday’s trading (23/11) the price shot up 11.41% to the level of Rp 1.1025 / share.
ADHI’s share gain occurred amid positive sentiment on Monday’s strengthening of the Jakarta Composite Index (JCI), which rose 1.46% to 5,652 levels, the highest level in the last 7 months since the pandemic ‘devastated’ domestic and global stock markets.
Although not in the first rank of top gainers, led by PT Semen Baturaja Tbk (SMBR), which shot 23.26% at the level of Rp 795 / share, ADHI’s shares are higher than the three other state-owned construction companies.
Movement of BUMN Construction Issuers Shares
|
They emit |
Stock Price |
1H (%) |
3 months (%) |
6 months (%) |
|
ADHI |
IDR 1.025 |
11,41 |
70,83 |
93,40 |
|
WSKT |
IDR 1,095 |
6,83 |
71,09 |
82,50 |
|
PTPP |
IDR 1,215 |
5,65 |
23,35 |
82,71 |
|
LANGUAGE |
IDR 1,470 |
3,16 |
24,05 |
57,22 |
Sumber: AT
IDX trade data noted that ADHI shares transacted reached Rp. 202.45 billion, with a trading volume of 207.26 million shares. In the last month ADHI shares shot up 74%, and in the last 6 months it also ‘flew’ 93.40%, with a market capitalization of IDR 3.65 trillion.
The CNBC Indonesia Research Team assessed that property and construction stocks soared after Bank Indonesia (BI) announced the BI 7-Day Reverse Repo Rate at 3.75%, the lowest level in its history. The low interest rates will revive sectors related to construction, infrastructure, cement and property.
In addition, the strengthening of construction stocks including ADHI occurred amid positive news in this sector where last week, the Yogyakarta-Bawen Toll Road with an investment value of Rp 14 trillion will soon be built. ADHI, WSKT, and PTPP participated in this project.
A consortium consisting of 5 state-owned companies worked on this project after winning the auction. This consortium includes PT Jasa Marga Tbk (JSMR) with a share of 60%, ADHI 12.5%, WSKT 12.5%, PTPP 12.5% and PT Brantas Abipraya (Persero) 2.5%.
In addition, there is the latest news about investment brought by the Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan, related to the Indonesian Investment Authority / Sovereign Wealth Fund.
The United States (US) has officially signed a Letter of Interest (LOI) to invest US $ 2 billion (IDR 28 trillion) from the United States International Development Finance Corporation (IDFC) to the Indonesia Investment Authority or Sovereign Wealth Fund Indonesia.
Reporting from the website of the Coordinating Ministry for Maritime Affairs, the LOI was signed by IDFC AS CEO Adam Boehler in Washington DC on Thursday (19/11/2020) local time. The signing was witnessed directly by Luhut Binsar Pandjaitan.
Kemenko assessed that the LOI is expected to attract US investors to invest in Indonesia. “Currently Indonesia is in need of investment for infrastructure development,” wrote the Coordinating Ministry in a statement.
This cooperation is felt to strengthen economic ties between the US and Indonesia. Not only being an investor, IDFC will also work with partners in Japan, the United Arab Emirates and Singapore to participate in the Indonesia Investment Authority.
(bag bag)
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