Jakarta, CNBC Indonesia – PT MD Pictures Tbk (FILM) stock trading was suspended (suspension) by the Indonesia Stock Exchange (IDX) during today’s trading period, due to a significant increase in the cumulative price of the company’s shares recently.
According to IDX disclosure information, the suspension was carried out in the context of cooling down which aims to provide adequate time for market players to consider the information available on FILM shares.
During this suspension period, market participants are also expected to be able to sort out every investment decision they make in the company’s shares.
Previously, the company’s shares were included in stocks whose movements were monitored by the IDX due to unusual stock movements (unusual market activity/UMA). The company only listed its shares on August 7 2018 last week.
The film company’s shares are said to have experienced an unacceptable increase, so the bourse asked investors to pay attention to the company’s response regarding a request for confirmation from the regulator.
Since it was first listed on the Indonesia Stock Exchange (IDX) on August 7 2018, FILM’s share price has increased by 345.24%, from Rp. 210/share to Rp. 935/share. Yesterday, Tuesday (14/8/18), FILM’s share price closed up 23.03% to Rp 935 per share from the previous day’s close of Rp 760 per share.
MD Pictures is a company that produces films screened in Indonesia, Malaysia, Singapore and Brunei Darussalam. This company was founded in 2007 by Manoj Punjabi who currently serves as the company’s main director.
Interestingly, this company produces films that have become films with the most audiences in Indonesia, reaching 4.7 million viewers. Several films were produced such as Ayat-Ayat Cinta, Heaven that is Not Missed, Habibie & Ainun, Danur: I Can See Ghosts and Rudy Habibie.
Not long ago, the company also created a joint venture (JV) with two companies from China and South Korea. Next year, the joint venture will produce a film with South Korean rights.
The target is that with this joint venture, the company will produce films of a higher level and market these productions to China. Next year, the company also targets to be able to produce films in Hollywood at a cost of no less than US$ 4 million-US$ 5 million.
Retransacted, FILM Shares Increase 10%