MNC Group Shares Angry at Gegara Bank Digital, LUCK-FILM Boncos!

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Jakarta, CNBC Indonesia – The shares of three MNC Group issuers, PT Bank MNC Internasional Tbk (BABP), PT MNC Kapital Indonesia Tbk (BCAP) and PT MNC Investama Tbk (BHIT) compactly become top gainers in the first half of trading today, Thursday (27/5/2021).

The strengthening of the three stocks was driven by positive sentiment from Bank MNC, which had just officially obtained a digital bank license from the Financial Services Authority (OJK).

Different poles, issuer shares equipment distribution and documentation services PT Sentral Mitra Informatika Tbk (LUCK) and the shares of the production house PT MD Pictures Tbk (FILM) must be willing to become ‘losers’ after falling by more than 6%.

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The Composite Stock Price Index (IHSG) jumped sharply this afternoon. JCI rose 1.24% to 5,888.199 at the close of the first trading session, Thursday (27/5).

According to IDX data, there were 311 shares that rose, 154 shares declined and 155 shares stagnated, with a transaction value of Rp 6.40 trillion and a trading volume of 11.18 billion shares.

Foreign stock market investors entered the Indonesian Stock Exchange with net foreign purchases of IDR 403.34 billion in the regular market. Meanwhile, foreigners recorded net sales in the negotiation market and cash market of IDR 6.91 billion.

Here are the top 5 stock gainers and losers of session I today (27/5).

Top Gainers

International MNC Bank (BABP)shares +31.67%, to IDR 158, transaction IDR 199.0 billion
Ambassador of Motherland Hope (HOPE)+24.30%, to IDR 266, transaction IDR 36.5 billion
MNC Kapital Indonesia (BCAP)+17.27%, to IDR 129, a transaction of IDR 41.8 billion
MNC Investama (BHIT)+15.09%, to IDR 61, a transaction of IDR 46.5 billion
Wintermar Offshore Marine (WINS)+8.00%, to IDR 135, a transaction of IDR 12.9 billion

Top Losers

Central Partners Informatics (LUCK)shares -6.67%, to IDR 280, transaction IDR 34.4 billion
MD Pictures (FILM)-6.28%, to IDR 448, a transaction of IDR 65.9 billion
Era Mandiri Brilliant (IKAN)-4.84%, to IDR 118, a transaction of IDR 5.9 billion
Langgeng Makmur Industri (LMPI)-3.75%, to IDR 154, a transaction of IDR 4.7 billion
Putra Rajawali Kencana (PURA)-3.68%, to IDR 131, a transaction of IDR 54.4 billion

Based on the data above, BABP’s shares have skyrocketed the most with an increase of 31.67% to IDR 158/share. With this strengthening, BABP shares managed to rebound from last Tuesday (25/5), when they fell 4.00% to Rp 120/share.

Within a week, BABP’s shares managed to soar 81.61%, while within a month it had jumped 90.36%.

The strengthening of BABP shares occurred in line with the latest news regarding the bank having officially obtained a digital on boarding license from the OJK.

This license allows MNC Bank to fully digitize the opening of a deposit account (digital onboarding) and digitize its banking services with the title Motion Banking by MNC Bank. Last April, Bank MNC had indeed applied for a digital onboarding permit for the Motion application to the OJK.

Meanwhile, Motion Banking is a “digital attacker” belonging to the MNC Group to enliven the euphoria of digitalization in Indonesia.

“The successful conversion of the massive MNC Group ecosystem will give Motion Banking the opportunity to grow its customer base to 30 million customers in the next 4-5 years and become the leading digital financial ecosystem,” said Yudi Hamka, Chief Technology Officer of the MNC Group, in an information disclosure. , Thursday (27/5/2021).

This sentiment contributed to an increase in other MNC Group shares, including BCAP shares, which soared 17.27% to Rp 129/share and BHIT shares which rose 15.09% to Rp 61/share.

In addition, the sentiment from BABP has also swayed the performance of other mini-bank shares, especially those that are transforming into digital banks.

For example, Bank Jago (ARTO) shares which shot up 6.64%, International Business Bank (BBSI) which jumped 4.81% and Bank Harda Internasional (BBHI) rose 2.30%.

With a different fate, LUCK’s shares have instead become ‘sick’, after touching the lower auto rejection (ARB) of 6.67% to IDR 280/share.

The decline in LUCK shares this afternoon occurred because market players began to take profits (profit taking), after the stock touched the auto rejection rate (ARA) of 25.00% last Tuesday (25/5).

Just so you know, LUCK along with a number of other issuers were dragged into a case of alleged fraud under the guise of investment by PT Jouska Financial Indonesia (Jouska) last year.

The attorney for Jouska’s client Rinto Wardana said that in his last report, which was conducted on December 21, 2020, the investment loss value of Jouska’s customers, which he escorted, reached IDR 18 billion.

Meanwhile, shares made by producer Manoj Punjabi, FILM, also fell by 6.28% to Rp 448/share, due to profit taking by investors after FILM’s shares jumped 17.73% on Tuesday.

CNBC INDONESIA RESEARCH TEAM

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