Stock Value of Richest People in RI Translucent IDR 800 T, Surpasses BBRI!

Jakarta, CNBC Indonesia – Bayan Resources (BYAN), owned by tycoon Low Tuck Kwong, is now the second most valuable public company in Indonesia. This position was achieved by toppling Indonesia’s largest BUMN, Bank Rakyat Indonesia (BBRI).

As trading opened on Tuesday morning (27/12), BYAN shares opened and became the backbone of the strengthening Jakarta Composite Index (IHSG). About 30 minutes after the market opened, BYAN’s shares are up more than 18% at a price of Rp. 24,325 with a registered market capitalization of Rp. 810 trillion.

At the same time, BIS Bank shares were corrected by 0.61% to a price of IDR 4,900 with a market capitalization of IDR 744.15 trillion. Meanwhile, Bank Central Asia (BBCA), which is the most valuable issuer on the domestic exchange, opened up 0.29% at a price of IDR 8,600 with a market capitalization of IDR 1.060 trillion.

Rising global coal prices and the broadly positive outlook in the short to medium term are the main reasons for the strengthening of equity prices in recent times. Higher stock prices also increase the company’s valuation ratio, including PE and PBV.

Apart from that, investor enthusiasm seems to have been triggered by the owners buying shares. Low Tuck Kwong has been actively accumulating BYAN shares on a regular basis since last year, in fact, he is still buying shares in the company after cumulated dividend ended December 19th

Unlike most stocks which usually crash afterwards cumshot, BYAN shares are even more enthusiastic. Since the company’s shares were split at the beginning of last December at a ratio of 1:10 – from IDR 94,500 to IDR 9,450, BYAN shares have strengthened by more than 157%, since the beginning of the year strengthened by 766%.

Through the end of the third quarter of this year, BYAN had record revenue and net profit. The net profit in the first nine months of this year reached IDR 24.81 trillion. Meanwhile, the issuer whose market capitalization was just surpassed, BBRI, reported a net profit of IDR 39.16 trillion.

Meanwhile, the Indonesian capital market opened happily this morning with JCI accelerating since trading began. The JCI recorded a 1.32% gain this morning and was able to penetrate the 6,900 level.

CNBC INDONESIA RESEARCH TEAM

[Gambas:Video CNBC]