Kaesang Recommends Bank Jatim Shares: Not An Order To Sell Or Buy
Children President Joko Widodo (Jokowi), Kaesang Hope. (Photo: Instagram @kaesangp)

JAKARTA - After winning a number of shares such as PT Aneka Tambang Tbk (ANTM) and PT Perusahaan Gas Negara (Persero) Tbk (PGAS), President Joko Widodo (Jokowi) Kaesang Pangarep's youngest son is now recommending other shares. But this time he recommended stocks in the banking sector.

On his Twitter account, Kaesang tweeted about the shares of PT Bank Pembangunan Daerah Jawa Timur Tbk. He said the stock valuation of the issuer coded BJTM is still cheap at its current position.

"The valuation is cheap, the PE (price to earnings) ratio is only 7.5x with an ROE (return on equity) of 13 percent," said Kaesang, quoted by VOI, Friday, January 15.

He said, with this position coupled with large dividends every year, the shares of this issuer coded for BJTM deserve to be rewarded with a PE Ratio of 10 times or more or with a price to book value (PBV) of at least 1.5 times, namely at a price of Rp1. 000 per share.

Kaesang, who is also known as #sangmology, continued, BJTM's financial performance is fairly healthy in 2020 despite the COVID-19 pandemic.

However, in his latest tweet, it seems like Kaesang doesn't want to be seen as being endorsed by Bank Jatim.

"Only a reference, not an order to sell or buy," wrote this brother Gibran Rakabuming.

For information, Bank Jatim posted an increase in net profit of 1.07 percent until November 2020 compared to the same period the previous year (year-on-year / yoy).

Bank Jatim also recorded credit growth of 7.29 percent in November 2020 (yoy). Meanwhile, third party funds (DPK) also grew 17.92 percent (yoy) in the same period.

As for trading on Thursday, January 14 yesterday, BJTM shares closed up 19.01 percent to the level of Rp845 per share.


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