Indonesia Stock Exchange (IDX) halt the stock trading after the Jakarta Composite Index (JCI) dropped 5 percent to 4,456.1 at 3.03 p.m. Eastern Time, a lowest level since 2016 - Photo: Special
JAKARTA (TheInsiderStories) – Good Morning! The Jakarta Composite Index closed the trade on Tuesday, March 19 2019 with a decline of 0.45 percent to 6,480.28. In the midst of this weakness, there were a number of corporate actions and issuers that contribute to this weakness.
Top Gainers
PT Multipolar Technology Tbk (IDX: MLPT) shares posted the sharpest price increase on Tuesday, March 19, 2019. The company’ stock gain after closing up 24.67 percent or 280 points to the level of Rp1,415 per share. Following the strengthening of MLPT is the share of PT Anabatic Technology Tbk. (IDX: ATIC) which closed up 20 percent or 165 points to Rp 990 per share.
Top Losers
PT Inti Komoditi Korpora Tbk. (IDX: INCF) posted the deepest price decline in trading on Tuesday, March 19, 2019. The share price led the weakening of shares after closing down 24.87 percent or 96 points to the level of Rp290 per share. Occupying the next weakest position is the shares of PT Armada Berjaya Trans Tbk (IDX:JAYA) which closed down 24.63 percent at Rp202 per share.
For today the stock to be watch are:
PT Yudha Bhakti Bank (IDX: BBYB)
The company planned to issued 469,591,963 new shares with a private placement mechanism. The price of implementing this corporate action is Rp338 per share Rp158.72 billion in total. PT Akulaku Silvrr Indonesia, an e-commerce company and financial technology, from China absorbed this private placement.
PT Buana Finance Tbk (IDX: BBLD)
The finance company obtained a credit facility of Rp1.25 trillion from 10 banks from the beginning of January to the beginning of March 2019 to support the company’s expansion.
PT Mitrabara Adiperdana Tbk (IDX: MBAP)
The firm’ net profit recorded $50.31 million in 2018, or down 14.19 percent compared to a year ago. The net income came from revenues of $258.13 million or decreased 0.17 percent from the realization of $ 258.58 million in 2017. In contrast, the company’s cost of revenue rose 9.63 percent or reached $157.19 million in 2018.
PT Mitra Adi Perkasa Tbk (IDX:MAPI)
The retailer plans to expand the cooperation of a number of brands with financial technology services, Go-Pay to increase sales volume. Previously, company had collaborated with Go-Pay for several food and beverage brands.
PT Wijaya Karya Beton Tbk (WTON)
Unit of PT Wijaya Karya Tbk (IDX: WIKA) is optimistic that it can record new contracts of Rp9 trillion or increase by 17 percent in 2019. This is supported by several expansion plans of state-owned companies such as PT Pelabuhan Indonesia I, II, II, and IV.
PT MNC Investama Tbk (IDX:BHIT)
Hary Tanoesodibjo’ arm plans to increase capital under the rights issue scheme. In this corporate action, the number of shares that will be released by BHIT is 17.57 billion shares. The results of the rights issue will be used to convert debt to Caravaggio Holding and New Ascend Limited for $115 million.
PT Matahari Putra Prima Tbk (IDX: MPPA)
The company under Lippo Group brushed aside the news that some of its shares will be acquired by Para Group, a conglomerate owned by Chairul Tanjung. Previously, news circulated about the acquisition plan in order to bring the Transmart brand into the capital market.
Danny Konjogian, Director of Public Relation and Communications MPPA explained that the news was untrue. The management did not know the source of the rumor and denied any news that stated that there was a plan to sell the company’s shares.
William Surya Wijaya from PT Indosurya Sekuritas adding other stocks to watch for today banking sector such as PT Bank Negara Indonesia Tbk (IDX: BBNI), PT Bank Mandiri Tbk (IDX: BMRI), PT Bank Central Asia Tbk (IDX: BBCA), PT BPD Jatim Tbk (IDX: BJTM), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), and PT Bank Tabungan Negara (IDX: BBTN).
Then property stock such as PT Summarecon Agung Tbk (IDX: SMRA), PT Pakuwon Jati Tbk (IDX: PWON), PT Alam Sutera Realty Tbk ( IDX: ASRI), and PT Ciputra Development Tbk (IDX: CTRA).
Happy Trading!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia