Jakarta, CNBC Indonesia – Shares of the issuer engaged in the real estate sales business of PT Repower Asia Indonesia Tbk (REAL) suddenly jumped high this morning, Monday (16/8/2021), following the news that Ustaz Yusuf Mansur bought the shares for Rp. 30 billion.
According to data from the Indonesia Stock Exchange (IDX), at 09.43 WIB, REAL shares jumped by 34.00% to Rp 67/share. The transaction value was jumbo at IDR 28.27 billion, exceeding the usual transaction value in the range of IDR 850 thousand to hundreds of millions of rupiah.
These stocks tend to be ‘sleeping’ stocks, because they have rarely been active on the stock exchange since their debut on December 6, 2019. The last time REAL shares moved was on November 26, 2020 when they closed up 4.00% to Rp 52/share.
Indeed, this stock only had time to enjoy ‘glory’ in the early days since the ‘gig’, peaking on January 3, 2020 when it closed at an all-time high price of IDR 540/share. After that this stock moved downwards until finally at the level of Rp 50/share since July 27, 2020.
Previously, Ustaz Yusuf Mansur, who is also the leader of the Daarul Qur’an Islamic Boarding School, and also the owner of the asset management company PT Paytren Aset Manajemen (Paytren) suddenly made a strategic move by buying shares of property companies with the ‘gocap’ category, aka shares with the lowest price. IDR 50/share.
Yusuf Mansur bought REAL shares via UOB Kay Hian Sekuritas securities company at Repower’s current share price of Rp 50/share so that the funds disbursed were around Rp 30 billion.
Repower Asia itself is a company headquartered in Jalan
“I’m 6 million lots [600 juta saham]”This is just the first action, after buying with inbreng assets, the next, no money,” said Yusuf Mansur to CNBC Indonesia, quoted Monday (16/8).
Yusuf Mansur previously held several shares including PT Bank Syariah Indonesia Tbk (BRIS), when it was still named PT Bank BRISyariah Tbk before the merger with two other state-owned Islamic banks, then shares in PT Bank MNC Internasional Tbk (BABP), livestock issuer PT Widodo Makmur Unggas Tbk (WMUU) and PT Garuda Indonesia (Persero) Tbk (GIAA).
So what is the real purpose of Yusuf Mansur buying this gocap category?
In terms of performance, as of March 2021, REAL sales had only reached Rp 4.94 billion, up from the same period last year of Rp 4 billion. Meanwhile, net profit in Q1-2021 only reached Rp 580 million, an increase of 41.23% from the same period the previous year of Rp 410.67 million.
Last year, the company’s profit fell to Rp 1.02 billion from the previous year’s Rp 1.38 billion, with revenue rising to Rp 12.68 billion from the previous Rp 10.13 billion.
But the company’s assets in March 2021 reached IDR 352.23 billion, from the end of December 2020 of IDR 352 billion. Of the total assets, current assets alone reached Rp 179 billion.
The company’s liabilities in March 2021 were only IDR 1.67 billion, from December 2020 of IDR 2.61 billion. Meanwhile, equity reached IDR 350.56 billion from IDR 349.98 billion in December 2020 so that the level of debt to equity ratio aka debt to equity ratio (DER) only 0.004 times.
YM confirmed that there was a big plan behind his efforts to buy the shares of this ‘gocap’ issuer.
“Bismillaah walhamdulillaah. This is gocap stock, hehehe. but the fundamentals are good. It can be a vehicle for the entire property business. Let us manage this company properly. Not a deep-fried company. Growing and growing together, I entered with God’s permission to be the shareholder,” said YM in an upload on his Instagram account, @yusufmansurnew.
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Photo: Instagram @yusufmansurnew Instagram @yusufmansurnew– |
He said there are many interesting potentials in REAL’s business in the future, for example the development of Islamic boarding schools in 100 cities and its property business.
“Which means there will be 100 property projects, because they are attached to Islamic boarding schools… [captive market] really…or invite small landowners…. 100 meters up to 1000 meters…. in big cities… they want to build small clusters… land owners immediately become CEOs, who knitting, REAL… this is going to be crazy… just enter 1000 lands… already 1000 clusters… we can rights issue together… combine assets… this is really big.”
According to YM, REAL will be a vehicle for investment in the property sector in the future.
“This could be my and Daarul Qur’an’s Ferrari, there are many dreams, one of the dreams is to build a boarding school area anywhere, in big cities especially, where the area will contain 100 pesantren brands so that in 1 year, “Santri can be 100,000 people from 100 pesantren, so in the next 6-10 years 1 million students in one area, recurring income can be IDR 3 trillion per month,” said YM.
“Not to mention the revitalization of village people’s houses in large housing estates… this is a lot… for example, like the Betawi people in BSD… there are still many thousands of meters to a hectare, filled with Betawi families. This is the amount of foam hundreds, cooperation like this, moreover, it can involve property SOEs… wow, it’s delicious… God willing… fast roads add to Indonesia’s economic movement.”
However, YM does not deny that there are still problems that will be resolved soon.
“Btw, I’m Yusuf Mansur… don’t close myself and don’t close my eyes, that I also have problems… there are difficulties, there are difficulties… there are problems… because of that, I apologize to my friends.. and ask for prayers… so that everything can be done.”
“Plus, we can complete this opportunity in the future. Make progress together… but if it’s about me cheating, harming people, it’s not really. I put my trust in Allah… may Allah protect us all… from all mistakes, evil, evil, sins, and disobedience, ourselves and of all God’s creatures.”
“[Potensi] This requires a vehicle, it can’t be a banking scheme, it has to be a rights issue scheme [penerbitan saham baru dengan Hak Memesan Efek Terlebih Dahulu/HMTED] and IPOs [penawaran umum saham perdana, initial public offering], and this company has an IPO, it’s just a rights issue,” he said.
In the future, YM will enter again into REAL shares to increase ownership, but in the form of land asset inbreng, not with cash funds.
“Next, buy using inbreng assets, next time, don’t use money,” said YM.
The number of shares purchased is equivalent to about 9% of REAL’s total outstanding shares of 6.63 billion shares.
As of March 2021, REAL shares were held by PT Six Berlian Sinergi as much as 46.72% (3,099,480,000 shares), then PT Harmoni Harum Propertindo 15.57% (1,033,160,000 shares), and public investors 37.70% (2,500. 970,151 shares).
CNBC INDONESIA RESEARCH TEAM
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