Without Explanation FILM Stocks Continue to Rise, Where Does the IDX Go?

Jakarta, CNBC Indonesia – As if tirelessly and not yet satisfied, the share price of PT MD Pictures Tbk (FILM) continues to climb up. In this morning’s trading, the shares of the company owned by Manoj Punjabi still appear as active shares with the highest increase.

Stock price FILM after half an hour of trading the shares rose 13.14% to a level of IDR 1,540/share. The trading volume reached 10.19 million shares valued at Rp 15.23 billion.

If calculated from the stock price at the start of the stock listing on 7-August-2018, FILM’s share price has gone up 633.33%. This means that it hasn’t even been a month since the stock price FILM has provided a profit of more than six times.

Stock trading activity FILM had received the attention of the stock exchange, so that it was included in the list of abnormal stock trading. Then last week, Wednesday (15/08/2018 to be exact), the IDX temporarily suspended (suspensed) shares FILM after the significant increase in the cumulative price of the company’s shares recently. Quoting the IDX’s disclosure of information, the suspension was carried out in the context of cooling down which aims to provide sufficient time for market participants to consider the information available on the shares. FILM.

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.

However, it took less than 24 hours for the stock exchange to reopen FILM stock trading, so on 16-August-2018 it could be traded again. Well, since reopening until today the stock price FILM continue to rise significantly.

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.

Until now, there has been no further explanation either from the stock exchange or from management regarding this significant price increase. Referring to the exchange regulations, where prices increase significantly without any significant corporate action plans being announced by the company, the exchange should be able to conduct an audit of this stock trading activity.

This needs to be done to uphold the principles of sound, transparent and efficient capital market transactions. Do not let retail investors lose money because of pseudo stock trading transaction activities.