JAKARTA - President Director (Director) of PT Indika Energy Tbk (INDY) Arsjad Rasjid and President Director of PT Bakrie & Brothers Tbk (BNBR) Anindya Bakrie opened their voices regarding the possibility of buying back shares.
Arsjad Rasjid, who is also the Chairman of the Advisory Council of the Indonesian Chamber of Commerce and Industry (Kadin) assessed that the flexibility of the buyback mechanism without having to go through the General Meeting of Shareholders (GMS) could be a strategic step to maintain stock prices.
According to him, the share buyback is one way to protect issuers from external pressure that can unfairly reduce share prices because, if the share buyback decision has to wait for the GMS, then this opportunity can be missed.
When asked if Indika Energy (INDY) planned to buy back, Arsjad said that his party was still waiting for the development of the situation.
However, Arsjad said that his party did not rule out the possibility of buying back shares if this was profitable, because especially the current stock valuation is still below a fair value.
"We'll wait for the situation first. But if for example why not? We believe that value is actually higher," said Arsyad when met at the IDX Building, Monday, March 3.
Meanwhile, Anindya Bakrie, who is also the General Chair of the Indonesian Chamber of Commerce and Industry, revealed that the share buyback can provide positive sentiment for the capital market.
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According to him, this step is also believed to strengthen the company's fundamentals, increase the value of stock transactions, and attract local and foreign investors.
"We will sit down to see the results of today's discussion, then see how the asset allocation is," he said.
Anindya hopes that the share buyback policy will not only apply in the short term, but is designed for the long term so that the company remains resilient in facing market dynamics.
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