After The Bakrie Company, Now AirAsia Shares Are Also Threatened With Being Kicked Out Of The IDX

Pesawat Air Asia. (Irfan Meidianto / VOI)

JAKARTA - The Indonesian Stock Exchange (IDX) announced the risk of delisting for PT. AirAsia Indonesia Tbk (CMPP). The issuer coded CMPP shares has been suspended in the regular market and cash market for 18 months and will reach 24 months on August 5, 2021.

Airlines with the concept of low-cost carrier airlines, according to the IDX, must meet the 7.5 percent free float requirement so that the suspension of the company can be opened. Based on the composition of ownership as of December 31, 2020, AirAsia Investment. Ltd is the largest shareholder with 49.25 percent.

Then, PT. Fersindo Nusaperkasa holds 49.16 percent. The composition of community ownership is only 169.94 million shares, equivalent to 1.59 percent.

For information, at the end of the third quarter of 2020, AirAsia Indonesia President Director Dendy Kurniawan said AirAsia was continuing to review the rights issue plan. One of the goals of the corporate action is to increase the company's free float to meet the 7.5 percent requirement so that the suspension of the company can be opened.

However, Dendy said that currently, the focus of the company and shareholders is internal consolidation. The goal is to face unfavorable situations.

Through the disclosure of information on the IDX website on December 30, 2020, AirAsia Indonesia Head of Corporate Secretary Indah Permatasari Saugi said that her company is also preparing a corporate action that is being planned as an effort to increase public share ownership. The preparation is carried out until the situation improves and the company's operational performance can run normally again.

"The company believes that by optimally improving the performance and increasing the value of the company, it will make it easier for the company to be able to carry out corporate actions planned by the company to comply with the provisions of Stock Exchange Regulation Number : 1-A of the Indonesia Stock Exchange", she explained.

Before AirAsia, the fate of the Bakrie Group's public listed telecommunications issuer, PT. Bakrie Telecom Tbk (BTEL), was only a matter of months. The company, codenamed BTEL, will enter a 24-month suspension period on May 27, 2021.

BTEL shares were suspended by the Exchange on May 27, 2019. This is because the company received a disclaimer opinion twice in a row from a public accountant.

In the latest development in January 2021, IDX management said BTEL still had to complete several obligations so that the opening of the suspension could not be carried out.