Erick Thohir Thankful That BUMN Shares Are Straddling LQ45, Calling Antam Appreciated By Many People

Minister of BUMN, Erick Thohir. (Photo: Ministry of BUMN)

JAKARTA - State-Owned Enterprises (BUMN) Minister Erick Thohir claims that a number of state-owned issuers' shares on the Indonesia Stock Exchange (IDX) have received appreciation by investors, as evidenced by positive nicks. In fact, BUMN shares could beat LQ45 shares for the first time.

According to Erick, the strengthening of BUMN shares was caused by two things. First, state-owned companies listed on the IDX have good governance. Second, SOEs always carry out future projects.

"Alhamdulillah yesterday, BUMN shares themselves were very positive on the stock exchange. This is the first time BUMN shares are higher than LQ45, which I feel is positive appreciation from the direct market," he said, during a working meeting with Commission VI of the DPR, Wednesday, January 20 .

The future project is meant to make an electric car or electric vehicle (EV) battery. According to Erick, this caused nickel producer shares to increase.

"It is evident that people believe Antam is the supplier of the line. The other is to be a good stock," he said.

As is known, currently his party is preparing a MIND ID consortium consisting of PT Indonesia Asahan Aluminum (Persero), PT Aneka Tambang Tbk (ANTM), PT Pertamina (Persero), and PT Perusahaan Listrik Negara (Persero). In the consortium, MIND ID will collaborate with the electric vehicle (EV) battery company from South Korea, LG Energy Solution Ltd (LG).

Some of the National Strategic Projects (PSN) will be located in the Integrated Industrial Zone (KIT) Batang, Central Java, which was reviewed by President Jokowi at the end of last June. This 4,300 ha industrial estate is a pilot for the cooperation between the government and BUMN in providing competitive land in terms of price, connectivity and labor.

The plan is that some of the batteries produced from this project will be supplied to the first electric car factory in Indonesia which already exists and will soon start the production stage.

The development of an integrated electric battery industry is a concrete step in accordance with President Jokowi's target to encourage economic transformation towards Advanced Indonesia 2045. Downstream mining is one manifestation of this transformation.

Not only shares in nickel producers, Erick said, shares in conventional banking and shares in Islamic banks also experienced an increase.

"On the other hand, it is true that in the banks that are currently receiving synergy, their shares are highly trusted," he said.

The BUMN shares listed on the IDX include PT Bank Negara Indonesia Tbk (BBNI), PT Bank Rakyat Indonesia Tbk (BBRI), PT Bank Mandiri Tbk (BMRI), PT Bank Tabungan Negara Tbk (BBTN), PT Telekomunikasi Indonesia Tbk (TLKM), PT Jasa Marga Tbk (JSMR), and others.