FILM Stocks Are Called Fried, This Is Manoj Punjabi’s Response

Jakarta, CNBC Indonesia – PT MD Pictures Tbk (FILM) dismissed the notion that his shares listed on the Indonesia Stock Exchange (IDX) were ‘fried’ so that the price continued to ‘hot’ before finally being suspended by the stock exchange some time ago.

Main Director MD Pictures Manoj Punjabi said the increase in the share price of the company he built was because investors felt close and wanted to own the company. In addition, this company is the first film producer to take the floor on the capital market.

[Gambas:Video CNBC]
“So there are a lot of people who want to own MD shares because this is the first stock IPO so they exist emotional attachment,” Manoj told CNBC Indonesia some time ago.

According to him, the company’s fundamental condition is currently quite strong. In addition, the portfolio of films produced by the company has made investors more confident in the company.

“So for me I am very anti-fried words because I am very organic. I started from zero. I grew up 15 years of business, hard work, not hourly but daily can not come home. So now the value that people believe in, is not from me but of the product MD Picturesher,” he explained.

As for now, the company’s shares have been suspended from trading by the IDX since Thursday (23/8/2018) until an undetermined time.

“In connection with the significant cumulative price increase in the shares of PT MD Pictures Tbk [FILM]PT Bursa Efek Indonesia deems it necessary to temporarily suspend share trading FILM in the Regular Market and Cash Market from trading on August 23 2018 until further Exchange Announcements,” wrote the stock exchange openness announcement released Tuesday (21/8/2018).

Stock price FILM has continued the rally since it was first traded on the IDX on August 7 2018. It is recorded that the share price has risen 623.81% to a price level of IDR 1,520/share from IDR 210/share.

The IDX had temporarily suspendedsuspension) share FILM following the recent significant increase in cumulative prices. The termination was made in order cooling down to allow adequate time for market participants to consider the information on the company controlled by Manoj Punjabi.

[Gambas:Video CNBC]