MD Pictures Stock Becomes the Top Loser, Erick Thohir's Stock Soars!

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Jakarta, CNBC Indonesia – Mahaka Group issuer shares founded by SOE Minister Erick Thohir, PT Mahaka Media Tbk (ABBA), won top gainers today. In contrast, the shares of the issuer of the production house PT MD Pictures Tbk (FILM) have fallen again as top losers in trading, this Wednesday (14/4/2021).

The Composite Stock Price Index (IHSG) is showing its ‘muscles’ today, after being successful rebounds from a weakening trend for three consecutive days. JCI jumped 2.07% and returned to the level of 6,000 to 6,050.27 at the close of the second trading session, Wednesday (14/4)

According to IDX data, there were 322 shares that rose, 187 shares declined and 137 shares stagnated, with a transaction value of IDR 10.23 trillion and trading volume reaching 15.63 billion shares.

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As the JCI strengthened, foreign stock market investors flocked to Indonesia with net foreign purchases reaching IDR 305.68 billion in the regular market. Meanwhile, foreigners recorded a net purchase in the negotiation market and cash market of IDR 720.68 billion.

Here are the top 5 stock gainers and losers of session I today (14/4).

Top Gainers

MegaPower Makmur (MPOW), shares +34.55%, to IDR 148, transactions IDR 15.8 billion
Mahaka Media (ABBA), +24.79%, to IDR 292, transaction IDR 141.7 billion
Suryamas Dutamakmur (SMDM), +20.75%, to IDR 128, transaction IDR 21.9 billion
Terregra Asia Energy (TRGA), +12.00%, to IDR 168, transaction IDR 70.0 B
Matahari Putra Prima (MPPA), +10.83%, to IDR 665, transaction IDR 130.9 billion

Top Losers

Prima Globalindo Logistik (PPGL), shares -7.61%, to IDR 85, transaction IDR 5.1 billion
Guna Timur Raya (TRUK), -6.43%, to IDR 131, transaction IDR 5.2 billion
Sunindo Adipersada (TOYS), -6.35%, to IDR 236, transaction IDR 5.1 billion
MD Pictures (FILM), -6.25%, to IDR 525, transaction IDR 70.8 B
Bank Victoria International (BVIC), -4.92%, to IDR 174, transaction IDR 5.3 billion

According to the data above, the shares of MPOW power plant issuers managed to rank first as top gainers in session II today, aka the position of these shares has not changed since session I this afternoon. MPOW shot up 34.55% to IDR 148/share with a transaction value of IDR 15.8 billion.

With this, MPOW shares continued to strengthen since the previous two days, or since Monday (12/4). As a result, in a week the MPOW has shot up 49.49%, while in a month it has “flyed” 196%.

In second place, shares of issuers of the Mahaka Group, which was founded by BUMN Minister Erick Thohir, ABBA, soared 24.79% to Rp 292/share. The transaction value of these shares is IDR 141.7 billion.

ABBA did it rebounds from the weakening last Tuesday (13/4), when it fell 0.85% to IDR 234/share.

Most recently, ABBA was included in the 59 issuers that received a special notation by the stock exchange authorities. Of the 59 issuers, ABBA, along with 31 other companies, are included in the category of issuers with negative equity or with an E code.

Based on the financial reports as of September 2020, ABBA’s equity was negative at IDR 40.22 billion, in contrast to the same period the previous year which was still positive at IDR 107.34 billion.

As for the information attached along with the company’s financial statements, management explained, the decline in equity and asset values for the period ended September 30 2020 above 20% was mainly due to a decrease in investment value in equity securities (financial assets available for sale) at PT Mahaka Radio Integra Tbk (MARI).

The amount is from IDR 173.65 billion in 2019 to IDR 45.69 billion in the period ending September 30 2020.

“This was due to a decrease in the share price of PT Mahaka Radio Integra Tbk [MARI] on the Indonesia Stock Exchange, as a result of the drop in the Jakarta Composite Index [IHSG] which is mainly affected by the uncertainty that will be caused by the Covid-19 virus pandemic,” explained management, quoted by CNBC Indonesia, Wednesday (13/4)

Negative equity is a condition that occurs when the issuer in question experiences continuous business losses, thereby eroding the value of its equity.

In contrast to ABBA, shares of the issuer FILM production house have fallen again as the top loser today, after dropping 6.25% to Rp 525/share.

Yesterday, FILM was also the top loser, after collapsing and touching the lower auto rejection limit (ARB) of 6.67% to IDR 560/share.

The latest news is that the company’s management, led by film producer Manoj Punjabi, gave a statement regarding the entry of the company’s shares under special supervision from the Indonesia Stock Exchange (IDX) due to the company’s shares moving outside the usual alias unusual market activity (UMA).

FILM’s management stated 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.

Apart from FILM, the issuer of goods transportation services, TRUK, is again a ‘loser today’. TRUK shares fell 6.43% to IDR 131/share. With this, TRUK shares have fallen above 6% for 7 consecutive days, with six of them touching ARB.

CNBC INDONESIA RESEARCH TEAM

[Gambas:Video CNBC]