ILLUSTRATION. Workers observe the movement of the Composite Stock Price Index (CSPI) on the Jakarta Indonesia Stock Exchange, Wednesday (6/17). Composite Stock Price Index (CSPI) closed higher to the green zone at the end of trading today, Wednesday (06/17). At 16.00 WIB, the Jakarta Composite Index was closed
Reporter: Ika Puspitasari | Editor: I knew Laoli
KONTAN.CO.ID – JAKARTA. The occupants of the gocap shares in the Indonesia Stock Exchange have increased. From the end of March 2020 until Monday (6/29) there were additional LIMA gocap shares.
The five shares are PT Asia Pacific Investama Tbk (MYTX), PT Citatah Tbk (CTTH), PT Mahaka Media Tbk (ABBA), PT Kota Satu Properti Tbk (SATU), and PT Saraswati Griya Lestari Tbk (HOTL).
Senior CSA Research Institute analyst Reza Priyambada said the decline in the price of these shares could not be separated from the perception of market participants towards the issuer. According to him, investors are responding to performance results to management performance prospects.
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“Coupled with liquidity that is considered unattractive in the eyes of investors, so that slowly one by one investors are increasingly releasing these shares,” he said when contacted by Kontan, Tuesday (6/29).
Of the five companies included in the gocap shares, Reza sees only HOTL as having pretty good fundamentals. Despite the loss, this issuer can cut the amount of loss that must be borne.
In Kontan’s notes, hospitality company PT Saraswati Griya Lestari Tbk pocketed revenue of Rp 124.40 billion during 2019 or grew slightly from revenue of Rp 124.08 billion in 2018.
The company managed to cut losses 27.26% to Rp 8.11 billion in 2019 from the previous year’s loss of Rp 11.15 billion.
He further explained that once the fundamentals have begun to stabilize there is a possibility that the price of these stocks may rebound gradually.
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“Because if the fundamentals have not improved, but the price has gone up, investors will be considered a trap,” he added.
In order not to get caught up in gocap shares, he advised market participants to focus on observing the fundamentals and trading volume of a stock.
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