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Jakarta, CNBC Indonesia – Starting trading Friday (19/07) with an appreciation of 0.22% to a level of 6,417.44, Composite Stock Price Index (IHSG) continue to widen its gain as time goes by. At the end of session one, the JCI strengthened 0.65% to a level of 6,445.13.
While at closing, there was an increase of 1.31% at 6,456.539 from 6,373.345 in the previous week.
The Indonesia Stock Exchange (IDX) also recorded an average exchange daily transaction value of 15.30% to Rp 9.141 trillion from Rp 7.928 trillion last week. The market capitalization value also increased by 1.38% to Rp 7,402.429 trillion from Rp 7,301.889 trillion at last week’s close.
Throughout 2019, foreign investors recorded net purchases of IDR 71.336 trillion and foreign investors today recorded net sales of IDR 849.85 billion. There were several events and corporate actions that attracted attention yesterday. Apart from that, there are also several issuer actions that are worth watching on weekends.
1. Krakatau Steel Will Have Rights Issue in Quarter IV-2019
State-owned steel producer PT Krakatau Steel Tbk (KRAS) plans to increase capital through a rights issue mechanism or preemptive rights (HMETD) in the fourth quarter of this year.
Silmy Karim, Main Director of Krakatau Steel explained, currently his party has obtained permission from the House of Representatives to issue Preemptive Rights of 10% of the company’s issued capital. It’s just that, Silmy has not specified how many targeted funds will be collected in this corporate action.
This effort, continued Silmy, is in line with KRAS’ efforts to restructure debt and improve the company’s performance.
“The focus is now on debt and business restructuring, how do we optimize our subsidiary. The fourth quarter of this year (rights issue) at the earliest,” said Silmy Karim at the Indonesia Stock Exchange, Friday (19/7/2019).
2. Wow! Tower Bersama shares traded at IDR 1 trillion on the Negotiable Market
PT Tower Bersama Infrastructure Tbk (TBIG) stock transactions were transacted on the negotiating market in jumbo quantities until this Friday afternoon (19/7/2019), to be exact Rp. 1.07 trillion.
From the online trading records of a security today, the total amount of transactions in the negotiating market involves 269.05 million company shares at various prices, namely Rp. 4,000-Rp. 4,353/share, far below the price on the regular market of Rp. 4,360/share or discounted 0.16% -8.25%.
The transaction was facilitated by several stock brokerage companies, namely PT Macquarie Sekuritas Indonesia (coded RX stock broker), PT JPMorgan Sekuritas Indonesia (BK), PT Mahakarya Artha Sekuritas (XL), and PT Credit Suisse Sekuritas Indonesia (CS).
3. Receiving IDR 140 billion, Indika controls 100% of Multi Tambangjaya’s shares
PT Indika Energy Tbk (INDY) officially owns 100% of mining company shares PT Multi Tambangjaya Utama following the completion of the sale transaction of 2.62 million shares (15%) by Prime Empire Investment Pte Ltd.
The investment company from Hong Kong officially sold 2.62% of Multi Tambangjaya’s shares to Indika Energy’s subsidiary, Indika Capital Investments Pte. Ltd.
Thus, Multi Tambangjaya’s share ownership consists of PT Indika Indonesia Resources with 85% or 14.88 million shares and Indika Capital with 15%. Both are subsidiaries of Indika Energy.
4. Rich! Manoj Punjabi Earns IDR 173 Bn Sells FILM Shares, 150% Cash
The main director of PT MD Graha Utama, who is also the majority shareholder of PT MD Pictures Tbk (FILM), Manoj Dhamoo Punjabi, has just made money by selling his shares in MD Pictures.
From the disclosure of information submitted to the Indonesia Stock Exchange (IDX), Manoj reported that he had sold 247 million units of FILM shares, or around 2.6% of the total number of shares listed.
The FILM shares sold by Manoj were released at a price of IDR 700/unit on July 9 2019. This means that Manoj received IDR 172.9 billion from the transaction.
5. The Fate of Muamalat’s Rights Issue is Unclear, Waiting for the Lapkeu Audit
PT Bank Muamalat Indonesia Tbk’s plan to increase capital through the issuance of new shares (rights issue) through the mechanism of pre-emptive rights (HMETD/rights issue) seems to take a long time.
There are documents that are conditions that must be met, one of which is the company’s financial statements audited by a public accountant.
Corporate Secretary of Bank Muamalat Hayunaji said that previously the company had made a submission using the December 2018 financial statements, but because the process was still rolling, the validity period had expired so the company still had to renew it again.
6. Kencana Energi’s IPO price is IDR 250-420/share, note the schedule!
A company engaged in the power generation business, PT Kencana Energi Lestari Tbk offers an initial public offering price of IDR 250 – IDR 420 per share in an initial public offering (IPO) on the Indonesia Stock Exchange (IDX).
The company targets to be listed on the stock exchange on August 20 with the stock code KEN.
In this IPO agenda, the company will release as many as 977.68 million common shares or a maximum of 25% of the company’s issued and paid-up capital. Thus, from this IPO event, the company is aiming for fresh funds of IDR 245 billion to IDR 410 billion.
7. Accused of Evil Conspiracy, This is POSA Management’s Answer
PT Bliss Properti Indonesia Tbk (POSA) denied that there was an ‘evil conspiracy’ between the company, the underwriters and the company’s controllers as accused by the company’s retail shareholders.
Main Director of Bliss Properti Indonesia Johardy Lambert said the company considered the allegations to be incorrect and baseless. This is because the movement of company stock prices or warrants is considered to be just a market mechanism.
“We firmly convey that the allegations made against us as mentioned above are untrue and baseless,” said Johardy in a press release, quoted by CNBC Indonesia, Friday (19/7/2019).
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Increasingly Tough, Krakatau Steel Increases Positive Performance
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