KRAS shares twice ARB after Erick Thohir’s statement, retail investors are disappointed

Reporter: Novice Laoli | Editor: Novice Laoli

KONTAN.CO.ID – JAKARTA. After the statement by the Minister of SOEs Erick Thohir who said that Krakatau Steel would go bankrupt at the end of December, the shares of PT Krakatau Steel Tbk (KRAS) was observed to have decreased in the last 2 days.

Citing data from the Indonesia Stock Exchange (IDX) page, KRAS shares fell 6.67% to a position of Rp 448 per share or touched auto reject down (ARB) on Monday, December 6, 2021, and again experienced ARB or decreased to 6.70% to the position of Rp. 418 per share on Tuesday, December 7, 2021.

Responding to this, Retail Investor, Tasril Jamal expressed his disappointment with the statement made by Erick Thohir. According to him, it would be unwise if Erick Thohir as Minister of SOEs said things that could trigger panic in the capital market.

Tasril said that Erick Thohir’s statement could erase the hard work that was carried out by KRAS in the midst of the sluggish economy affected by the Covid-19 pandemic.

Also Read: Erick Thohir Says Krakatau Steel Could Bankrupt, KRAS Share Price Drops To ARB

In fact, according to previously circulated data and reports, KRAS succeeded in improving the company’s financial performance in the third quarter of 2021.

“What is worrying if this continues is the fear of panic in the capital market, as of today Krakatau Steel’s shares are free to fall by 6.70 percent,” said Tasril in his statement, Tuesday (7/12).

Tasril added that the losses suffered by the state and investors who became shareholders with the decline in KRAS share price as much as 13% in the last 2 days reached Rp 1.35 trillion.

Also Read: Sure not to go bankrupt, this is what the Commissioner of Krakatau said to Erick Thohir