Don't Forget To Note! These Are The SOE Shares Predicted By Cuan In 2024

YOGYAKARTA A number of State-Owned Enterprises (BUMN) whose shares are traded on the Indonesia Stock Exchange (IDX) are predicted to have bright prospects for investment in 2024. In fact, some of the shares of the state-owned issuers are classified as blue chip shares. So, what are the SOE shares predicted to be in 2024?

For information, throughout 2023, the shares of state-owned companies that are members of the IDX BUMN20 are still on the green line with an increase of 3.34 percent from January-December 2023. In early 2024, the IDX BUMN20 still showed a positive trend with an increase of 1.06 percent until Monday, January 8.

IDX BUMN20 is an index that measures the price performance of 20 listed company shares which are State-Owned Enterprises (BUMN), Regional Owned Enterprises (BUMD), and their affiliates.

Regarding the BUMN shares that are predicted to be in 2024, the Head of Research Mega Capital Sekuritas, Cheril Tanuwijaya, assessed that the prospect of shares in state-owned companies that are members of the BUMN20 IDX constituents will be influenced by market participants' anticipation of the release of financial statements for the 2023 financial year.

He added that the catalyst continued until the dividend distribution season which would make SOE shares even more attractive.

However, investors still need to look at the performance of each issuer. This is because it affects the amount of dividends.

Even so, Cheril predicts that IDX BUMN20 is still cuan, in line with the projected performance of banking issuers. This is because the shares of banks in the IDX BUMN20 reach more than 60 percent, supported by big caps banks such as PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), PT Bank Mandiri (Persero) Tbk (BMRI), and PT Bank Negara Indonesia (Persero) Tbk (BBNI).

Therefore, Cheril advises investors to look at the shares of state-owned companies engaged in the banking sector.

The shares of the red-plated banking issuer that Cheril is the most championed by are PT Bank Syarih Indonesia (Persero) Tbk (BRIS).

Cheril won BRIS shares because he considered the prospects for financial performance, dividend expectations and valuations.

Other BUMN shares that can be used as investment options are PT Telkom Indonesia (Persero) Tbk (TLKM) and PT Jasa Marga (Persero) Tbk (JSMR).

Cheril assessed that the BUMN20 IDX constituents who were most at risk of being used as investment options were PT Wijaya Karya (Persero) Tbk (WIKA). This is because the issuer has a large Debt to Equity Ratio (DER), but a small portion of cash, even less than 10 percent.

In line with Cheril, Equity Analyst & Economist KGI Sekuritas Indonesia Rovandi also said that debt problems were still an obstacle for a number of SOEs, especially BUMN Karya such as PT Waskita Karya (Persero) Tbk (WSKT) and WIKA. This situation brings negative precedents for other BUMN20 IDX shares.

Furthermore, Rovandi advised investors to look at SOE shares engaged in banking, mining and energy sectors. BUMN stocks that can be used as investment options include BRIS, PT Aneka Tambang Tbk (ANTM), PT Elnusa Tbk (ELSA), and PT Bukit Asam Tbk (PTBA).

This is information about SOE shares which are predicted to be in 2024. Get news updates of other options only on VOI.ID.