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Indonesia Stock Market Update – December 29th

Key Highlights

• IHSG Performance: Closed up 1.25% at 8,644.26.
• top Gainers: AMMN (+7.26%), FILM (+9.83%), BRPT (+4.79%).
• Top Losers: DCII (-6.24%), DSSA (-2.79%),‌ GOTO (-1.54%).
• Foreign Net Buying: ⁣ IDR 1.03 trillion (regular market), IDR⁤ 2.24 ⁤trillion (all markets).
• Sector Performance: 10 of 11⁣ sectors closed higher; Consumer Cyclicals led with +3.70%. Technology was the only⁤ sector to decline (-1.17%).
• CUAN Acquisition: petrindo Jaya Kreasi (CUAN) is acquiring Singaraja Putra (SINI), aiming for 51% ⁢ownership.
• TOBA⁣ Share Buyback: TBS Energi Utama (TOBA) plans a share buyback of⁣ up to ‌IDR 586.27 billion (US$34.92 ‍million).

Detailed Market Data

The ⁢strengthening of the ⁤index was supported by a rally⁢ in ‌a number of stocks, including AMMN which jumped 7.26%,FILM shot up 9.83%, and ⁤BRPT rose‍ 4.79% and became the main‌ support‌ for market movements. conversely, pressure⁢ was​ seen in DCII shares which fell 6.24%, DSSA corrected 2.79%, and GOTO fell 1.54%.

Fund Flows

In terms of fund flows, foreign investors again​ recorded solid net buying flows, namely ‍IDR 1.03 trillion ⁤in the regular market and reaching IDR ‌2.24 trillion in all markets.

Sector Performance Breakdown

Sectorally, almost all sectors moved positively, with‍ 10 of 11 sectors closing higher.The consumer cyclicals sector recorded the best performance with an increase of ⁤3.70%, while the technology sector was the only sector to weaken​ with a‌ decline of 1.17%.

Corporate ⁢Actions

CUAN – SINI Acquisition

Petrindo Jaya Kreasi ⁢(CUAN)⁤ is preparing to take ‌over Singaraja Putra (SINI).Currently, CUAN ​has indirect control of⁢ around 19.99% of SINI shares and is targeting‍ ownership‍ of at least 51% after the acquisition‌ process is complete.

Through‌ this⁣ action, the CUAN coal mining concession is estimated to increase to 378 million tonnes, from⁣ the previous 216 million tonnes, plus the SINI concession of 162 ‍million tonnes. ⁤Apart from that, ⁣CUAN’s potential coal reserves also⁢ have the potential to increase to around 390 million tons, including contributions from IBP.

This acquisition has the potential ‍to position CUAN as one of the largest⁢ coal mining companies in Indonesia. CUAN is ⁣required to conduct a mandatory⁣ tender⁤ offer (MTO) after the acquisition is completed,with a maximum implementation period⁣ of ⁢30 days from the announcement,and settlement ‍of cash payments no later than 12 days ‍after the offer period ends.

TOBA Share Buyback

TBS energi Utama (TOBA) announced plans‌ to buy ⁣back shares with a maximum value of IDR 586.27 billion or the equivalent of US$ 34.92 million.

the buyback covers up to 825.74 million⁤ shares or around 10% ⁢of the paid-up ⁤capital, with an indicated‌ buyback price of‌ around IDR 710 per share.

Key Financial Data