Bank Salim Shares Soar, MNC-Lippo Group Ambles

Jakarta, CNBC Indonesia – Shares of banking issuer Salim Group PT Bank Ina Perdana Tbk (BINA) and the issuer’s shares established by the Minister of SOEs Erick Thohir PT Mahaka Media Tbk (ABBA) managed to become the champion in the first half of trading session I, Thursday (17/6/2021).

As fate would have it, the shares of the MNC Group holding company PT MNC Investama Tbk (BHIT) and the Lippo Group shares PT Multipolar Tbk (MLPL) were forced to sink as the top losers this time.

The Composite Stock Price Index (IHSG) fell back into the red zone. JCI fell 0.22% to 6,065.403 at the close of the first trading session on Thursday (17/6).

According to IDX data, there were 165 stocks up, 309 stocks down and 157 stocks stagnant, with a transaction value reaching Rp 7.09 trillion and trading volume reaching 15.03 billion shares.

Foreign investors in the Indonesian stock market have recorded net foreign purchases of Rp 63.94 billion in the regular market. Meanwhile, foreigners recorded a net sale in the negotiating market and cash market of Rp 5.43 billion.

Here are the top 5 stock gainers and losers of session I today (17/6).

Top Gainers

1. Limas Indonesia Makmur (LMAS), shares +33,33%, to Rp 72, transaction Rp 7.1 M

2. Bank Ina Perdana (BINA), +24.75%, to IDR 2,470, transaction IDR 25.5 M

3. Smartfren Telecom (FREN), +14.95%, to Rp 123, transaction Rp 619.5 M

4. Digital Mediatama Maxima (DMMX), +8.91%, to Rp 1,405, transaction Rp 54.4 M

5. Mahaka Media (ABBA), +8.41%, to Rp 232, transaction Rp 17.1 M

Top Losers

1. Sunindo Adipersada (TOYS), shares -6.50%, to Rp 115, transaction Rp 8.5 M

2. MNC Investama (BHIT), -6.48%, to Rp 101, transaction Rp 5.3 M

3. Prima Alloy Steel Universal (PRAS), -6.25%, to Rp 240, transaction Rp 26.8 M

4. Bank Ganesha (BGTG), -4.57%, to IDR 167, transaction IDR 7.2 M

5. Multipolar (MLPL), -3.87%, to Rp 745, transaction Rp 345.6 M

BINA shares jumped 24.75% to Rp 2,470/share with a transaction value of Rp 25.5 billion. With this, BINA shares managed to record a strengthening rally for 5 consecutive trading days.

As a result, in a week this stock soared 34.97%, while in a month it shot up 27.98%.

The latest sentiment affecting the movement of BINA’s shares is related to the plan to increase capital through a rights issue that has been approved by the shareholders and the possibility of Anthoni Salim increasing his ownership in BINA.

This was determined at the Extraordinary General Meeting of Shareholders (EGMS) of Bank Ina Perdana for the 2020 financial year. The company will issue a maximum of 2 billion new shares with a nominal value of Rp 100 per share. With the approval of this rights issue, Anthoni Salim, as the ultimate shareholder, has the opportunity to increase his share ownership in Bank Ina.

Bank Ina’s President Director Daniel Budirahayu said that the company’s shareholders, who were listed at that time, were likely to absorb the Preemptive Rights.

The composition of the company’s current shareholding; PT Indolife Pensiontama holds 22.47 percent, PT Gaya Hidup Masa Kini holds 9.98 percent, PT Philadel Terra Lestari controls 7.53 percent, PT Samudera Biru, 16.51 percent.

Furthermore, Trustee Of NS Financial Fund managed by DBS Bank Ltd 10.49 percent, Asean Financial managed by Liontrust 18.29 percent, and the rest by the public. The ultimate beneficiary controlling shareholder is Anthoni Salim.

In addition to BINA shares, ABBA shares also rose 8.41% to Rp 232/share. The transaction value of this share was recorded at Rp 17.1 billion. This increase made ABBA shares managed to rebound from the correction since 2 days ago.

In one week ABBA shares rose 2.65%, as well as in a month by 2.65%.

Meanwhile, BHIT’s shares fell by 6.48% to Rp 108/share. This sent BHIT shares down more than 6% for 5 straight days with 3 of them ARB.

In a week ARB shares fell 29.37%, while in a month soared 98.04%.

MLPL’s shares also fell 3.87% to Rp 745/share. This correction occurred because market participants began to take profit (profit taking), after yesterday MLPL shares jumped 14.81%.

CNBC INDONESIA RESEARCH TEAM

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