IDX Calls Early Warning Can Reduce Actions 'Goreng Shares'

JAKARTA - The early warning implemented by PT Bursa Efek Indonesia (IDX) can reduce to prevent the action of 'frying shares' in the Indonesian capital market.

Director of Transaction and Compliance Supervision of IDX Kristian Sihar Manullang said that his party hopes that stocks that experience volatility and are not supported by inadequate fundamentals can be reduced in the future, as well as an effort to protect investors.

I think there has been an immediate action, the action precedes it. Unusual market activity (UMA) or suspension, cooling down. We hope it's early warning for investors, so that (Fried stock) is less," Kristian said, quoting Antara, Monday, February 13.

After the suspected shares are suspended and re-traded, he continued, the shares will enter the special monitoring board for one month.

"It can still be traded but limited," said Kristian.

His party together with the Financial Services Authority (OJK) will continue to oversee trade on the Indonesian stock exchange to prevent unusual trade transactions or what is commonly called the action of frying stocks.

Coordination of supervision continues. It's not stricter, what has been done so far is okay. We do it consistently. If it's tight, it's as if it used to be loose," said Kristian.

Previously, he mentioned that stocks that have special records related to price fundamentals and volatility will be included in the special monitoring board.

Bursa also provides a special notation and then includes it in special monitoring of certain stocks that have special notes related to price fundamentals and volatility," Kristian said.

His party will take quick action (istice action) against customers through Exchange Members (AB), as a preventive measure to remind them of their transaction behavior.

"Everything is aimed at protecting investors," said Kristian.

As is known, President Joko Widodo hopes that the action of frying Gautam Adani's shares in India will not be repeated in the Indonesian capital market, where the micro-case has a major impact on the country's economy.

One Adani company lost 120 billion US dollars, lost.rupiahed Rp1,800 trillion. Be careful about this, supervision, supervision, supervision. Don't let anyone escape like that because they fried Rp1,800 trillion," said President Jokowi.