Affected by UMA, Issuer Manoj Punjabi Nyungsep Shares Again 6%

Jakarta, CNBC Indonesia – The share price of a film production company, PT MD Pictures Tbk (FILM) corrected again in early trading this morning, Wednesday (14/4/2021) amid the Composite Stock Price Index (IHSG) which actually rose and rebounded to a level of 5,972 at 09.56 WIB.

Data from the Indonesia Stock Exchange (IDX) noted that FILM’s shares fell 6.25% to Rp 525/share, almost close to the lower auto reject level (ARB) of 7% in a day. The transaction value of the company’s shares owned by Manoj Punjabi is IDR 27 billion with a trading volume of 50.69 million shares.

Yesterday, FILM shares even touched ARB, dropping 6.67% to the level of IDR 560/share with a transaction value of IDR 45.7 billion, along with PT Bank Panin Dubai Syariah Tbk (PNBS) which fell 6.87% to the level of IDR 122/share .

Even so, FILM shares still rose 1.94% for a week, and shot up 69% for a month. Even year to date, the stock has strengthened 176%.

The IDX has put this stock under special surveillance due to an unusual increase in FILM’s share price (Unusual Market Activity).

However, the IDX emphasized that the announcement of UMA did not necessarily indicate a violation of laws and regulations in the capital market sector.

The latest information regarding listed companies is the information dated April 6, 2021 which was published on the IDX website regarding reports of material information or facts on information disclosure on affiliated transactions.

For information, IDX had previously announced a cooling-down suspension on January 20 2021 for trading FILM shares, then UMA on January 15 2021 for trading FILM shares.

“Regarding the occurrence of the UMA on the FILM shares, we need to convey that the Exchange is currently observing the development of this stock transaction pattern,” IDX said in an announcement last April 9.

Therefore, said IDX, investors are expected to pay attention to FILM’s response to the Exchange’s confirmation request and pay close attention to FILM’s performance and information disclosure.

In addition, investors must also review the plan corporate actions FILM if the plan has not yet been approved by the GMS and considers various possibilities that may arise in the future before making an investment decision.

FILM’s management replied that until now there is no material information or facts that affect the company’s share price. This comes after this stock has skyrocketed by 200% in the last 6 month period.

“The company will take corporate action in the near future, namely the Annual General Meeting of Shareholders. Further information regarding the Annual General Meeting of Shareholders will be provided,” FILM management wrote in the IDX’s information disclosure, quoted on Wednesday (14/4).

[Gambas:Video CNBC]

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