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ALKA claims to have no clue about share price fluctuations
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The trading floor of the Indonesia Stock Exchange (IDX) in Jakarta. (JP/Wienda Parwitasari)
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lakasa Industrindo (ALKA), a holding company in the aluminum industry, claimed the cause of its share price fluctuations was unclear.
The bourse had included ALKA on the list of shares that had shown unusual market activity, leading to the IDX announcing the suspension of its trading activity on Aug. 22.
Its trading activity, however, was reopened two days later. In the first trading session on Thursday, the company’s shares saw an increase of more than 174 percent from Aug. 15.
“There are no material facts that we haven’t included in our financial reports, or other facts that might affect our share price […] we also don’t understand the cause of our share fluctuations,” ALKA president director Peng Tjoan said on Thursday in Jakarta.
The company booked a Rp 17.9 billion (US$1.34 million) net profit in the first six months of the year from Rp 66.38 million in the same period last year.
“We hope to double our profit to Rp 34 billion this year,” Peng said (bbn)
