Its Share Price Drops Unnaturally, Mardani Maming's Batulicin Nusantara Enters IDX Monitoring Radar

Photo: Doc. Batulicin Maritime Archipelago

JAKARTA - The Indonesia Stock Exchange (IDX) has included the shares of a company owned by Mardani Maming, PT Batulicin Nusantara Maritim Tbk (BESS) on its radar due to an unusual decline in stock prices or Unusual Market Activity (UMA).

The issuer, which is engaged in the transportation of sea and river waters in Indonesia, for coal transportation services, its share in the past week has corrected 19.72%. Even at the opening of trading Monday at 09.35 WIB, BESS shares fell 6.91 percent to the level of Rp. 175.

"We hereby inform you that there has been an unusual decline in the price of BESS's shares (Unusual Market Activity)," wrote the letter signed by the Head of the Transaction Supervision Division, Lidia M. Panjaitan and PH Head of the Trading Operational & Regulatory Division, Mulyana.

The announcement of UMA does not necessarily indicate a violation of the laws and regulations in the Capital Market sector. The latest information regarding BESS is information dated August 11, 2022 which was published through the IDX website related to share listing.

For information, the Exchange has previously announced, UMA on October 4, 2021 for trading in BESS shares.

"In connection with the occurrence of Unusual Market Activity for the BESS shares, we need to convey that the Exchange is currently observing the development of this share transaction pattern," wrote the board of directors of the stock exchange.

Therefore, investors are expected to pay attention to the Listed Company's response to the Exchange's confirmation request, observe the performance of the Listed Company and its information disclosure, review the corporate action plan of the Listed Company if the plan has not been approved by the GMS and consider various possibilities that may arise in the future before committing investment decision making.