TEMPO.CO, Jakarta – Former President Director of the Jakarta Stock Exchange, Hasan Zein Mahmud, admitted that he did not dare to buy shares of PT Bank Jago Tbk. which has now broken the Rp 11,000 level. This is because the issuer’s movements cannot be calculated using conventional methods.
In trading at the end of last week, the issuer coded ARTO shares closed at a price of Rp 11,375 per share. This means, when compared to the IPO price five years ago, Bank Jago’s shares have soared more than 80 times.
Hasan assessed that the movement of ARTO shares was spectacular. This is because the issuers come from low-profile banks that are not considered and are poking into shares with a capitalization of over Rp 100 trillion.
ARTO is now even able to overtake blue chip issuers such as BBNI, BRIS, INDF and CPIN. “ARTO is fantastic. Using PBV as a conventional benchmark for the banking sector, ARTO PBV is more than 100 times. Price Earning Ratio is minus 651 times, NPM is minus 164 percent,” Hasan said.
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