as published in Bisnis Indonesia daily newspaper
Monday, 21/12/2009 00:00 WIB
3 stocks have above 100 percent returns
Five emitters stocks remain under initial price
JAKARTA: As from 12 new firm stocks listed in the bourse this year, three recorded above 100 percent returns and the other five have not contributed any profit yet.
Bloomberg data shows early 2009 up to the closing in Thursday last week, stock of PT Dian Swastatika Sentosa Tbk, Sinar Mas Group business unit with 59.9 percent owned by PT Sinar Mas Tunggal, has recorded 270 percent profits.
Research head of PT Paramitra Alfa Sekuritas Pardomuan Sihombing said the sharp stock increase from some emitters with less stock capitalization was due to the existing investors taking advantage of the minimum liquidity here.
Dian Swastatika is deemed corporation focusing on telecommunication tower and power plant construction. The emitter has market capitalization worth at IDR4.27 trillion. On the IPO, Dian Swastatika was helped by PT OSK Nusadana Securities Indonesia as underwriter.
The second post is stocks owned by PT Inovisi Infracom Tbk, a telecommunication firm recording 268 percent returns. It is followed by PT Bumi Citra Permai that has just been listed in the bourse December 10, 2009, with 131.82 percent return.
The stock price of Inovisi Infracom now has stood at IDR460 or sharply jumped if compared to the price on the stock listing of IDR125 on July 2. The recorded emitter stock capitalization was IDR423.2 billion. "OF course, with both capitals, the small emitter stock exchange become more lucrative to daily stock trader," he said yesterday.
Five other emitters stocks with IPO this year on last Thursday remained lower than the IPO pricing.
The largest stock price drop happened to coal mining firm, PT Garda Tujuh Buana Tbk. Underwritten by PT Bahana Securities on the IPO, the emitter recorded 28.36 percent plummet.
Stock of PT Katarina Utama Tbk, telecommunication and trade service sector firm, recorded the price drop of 32.5 percent. The stock of tin plate producer of PT Pelat Timah Nusantara Tbk (Latinusa) up to Thursday last week remained at 10.77 percent under the initial par value of IDR325.
The stocks of PT Trikomsel Oke Tbk and CPO plantation PT BW Plantation Tbk still provided negative returns of 6.67 percent and 5.45 percent. (Bisnis/21)