JAKARTA - PT Krakatau Steel (Persero) Tbk (KRAS) has raised its voice regarding the recent surge in the company's share price which led to a temporary suspension of trading.
The trading of KRAS shares has been temporarily suspended or suspended by the Indonesia Stock Exchange (IDX) on July 1 and July 7, 2025 because the movement of share prices is categorized as unnatural.
Citing RTI data, in the last trade before the suspension, Friday, July 4, 2025, the share price of KRAS was 16.3 percent to Rp314 per share.
KRAS's stock movement in the past month has also jumped 71.58 percent, while since the beginning of the year or year to date (YTD) it has jumped 210.89 percent.
Krakatau Steel's Director of Finance and Risk Management Danielmen Liman said the fluctuations in stock prices were purely market dynamics and had nothing to do with material information that the company had not submitted to the public.
"The movement of journalists' shares that occurred during that period was entirely market dynamics and was not related to material information that had not been completed to the public," he said in an incidental public expose online on Friday, July 11.
Meanwhile, Director of Commercial, Business Development and Portfolio Krakatau Steel Hernowo said management is aware that the volatility of KRAS shares has recently become a public concern.
Therefore, companies are trying to maintain investor confidence by continuing to strengthen business fundamentals on all sides.
"We continue to encourage the growth of our businesses and carry out efficiency in them so that in the future we can still compete in the midst of quite intense competition," said Hernowo.
Hernowo said the company is also focusing on preparing and implementing a financial strengthening plan this year.
In addition, KRAS is also in the midst of establishing strategic partnerships with various parties, both the government and other domestic companies.
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Furthermore, Hernowo said, KRAS is also exploring cooperation in various business fields from abroad.
Therefore, he said, the company will improve its performance.
"KRAS is quite aggressive in collaborating with various parties, because we believe that in the future we really have to collaborate with various parties to continue to encourage business growth. In essence, we continue to strive to put down business fundamentals so that in the future the business is more sustainable," he said.
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