Jakarta, CNBC Indonesia-After experiencing pressure, the shares of issuers in the technology sector have shown their ‘tajir’ again. It was noted that Bukalapak’s shares at the close of May 25 increased to Rp. 282. Meanwhile, the shares of PT. GoTo Gojek Tokopedia Tbk tooadmita significant increase to Rp 304.
When referring to Telkomsel’s investment in GOTO, the estimated average price (average price) Telkomsel in GOTO in the range of Rp 270 – Rp 270 per share. When on the floor, GOTO set an IPO price of IDR 338. Thus, Telkomsel has the potential to earn IDR 34 per share.
That is, with Telkomsel’s ownership in GOTO as much as 23.7billion shares, the potential profit on paper reaches Rp 805 billion.
However, not all technology issuers experienced an increase. At the close of the stock exchange on May 25, PT. Trimegah Karya Pratama Tbk, PT. Central Partners of Informatics, PT. Sentral Mitra Informatika Tbk. continues to decline. Even the issuer’s selling pressure touched the Lower Auto Rejection (ARB).
BCA Chief Economist David E. Sumual said that the current business cycle of technology companies, whether global, regional, or Indonesian, was indeed less profitable. This is due to the sentiment of interest rate hikes carried out by the Fed which will continue to increase.
In fact, the FED interest rate will continue to be pulled up to 3.5%. When the FED interest rate is 0%, startups and technology companies experience a very significant increase.
David continued, currently the increase in technology sector issuers is due to the optimism that Indonesia’s digital economy can grow, some investors still think that the fundamentals of technology companies are still quite good. This can be seen from the income growth which is still quite high.
“Indeed, from profitability there are still many that are not positive. Investors now see solid fundamentals of technology sector companies. Currently, capital market investors are looking for issuers that have strong fundamentals and have businesses that are still wide open,” said David.
Therefore, said David, investors do not need to worry about investing in technology issuers. As long as the technology company is still able to generate cash flowthe business is still running very well, and the issuer is still able to make its ecosystem grow, of course the prospects for the shares of technology issuers are still very promising.
“If the issuer has strong fundamentals, the stock price could potentially improve. If the fundamentals are bad, natural selection will certainly occur. All technology companies that have IPOs on the IDX have the prospect of rising stock prices again. The business cycle that occurs in digital companies is consolidation,” said David.
Currently, GOTO is one of the issuers in the technology sector that has solid performance. GoTo recorded a number of significant spikes in transactions during Ramadan 2022. Among them, the number of orders on Tokopedia sent using the service GoSend(instant or sameday) grew by 85% compared to last year. The number of parcel orders (hampers) at Tokopedia sent using GoSend instant and same-day logistics services also increased by 60%.
In addition, the number of consumers transacting on GoFood increased by 25%. Meanwhile, GoFood partners who use digital promotion tools through the Gojek platform grew by 46%.
Number of orders completed for services GoRide and GoCar cumulatively grew by more than 35% throughout Ramadan this year. This growth occurred in line with the easing of social activity restrictions, more offline ‘breaking the fast’ activities, visits and gatherings with family, as well as the return of employees to work in the office (work from office).
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