JAKARTA - The increase in shares recorded by PT Ragam Venturindo due to the stock split of PT Asuransi Ramayana Tbk (ASRM) triggered market hints on Tuesday, May 28. Ragam Venturindo owns roughly 10.57% of ASRM shares, but the loss insurance issuer's 1:4 stock split increased its shareholding from 32.15 million to approximately 128.60 million shares.

Furthermore, individual investor Ram Jethmal Punjabi increased his stake in the production house PT Tripar Multivision Plus Tbk (RAAM) by 70 thousand shares, while Low Tuck Kwong added 16 thousand shares of the coal mining company PT Bayan Resources Tbk (BYAN) to his portfolio. This time, two issuers decided on another share buyback: coal company PT Delta Dunia Makmur Tbk (DOID) with 5 million shares and cement producer PT Indocement Tunggal Prakarsa Tbk (INTP) with 1.43 million shares.

Tan John Tanuwijaya, an individual investor, was responsible for the largest share reduction this time. He once again released 15 million shares of foundation specialist issuer PT Berdikari Pondasi Perkasa (BDKR) via PT Sucor Sekuritas. The Deputy Attorney General for Special Crimes at the Prosecutor's Office of the Republic of Indonesia then sold 8.62 million shares in the construction company PT Totalindo Eka Persada (TOPS).

Several controlling shareholders were also caught selling shares, beginning with PT Sinar Mas Cakrawala, who sold 7.34 million shares of financial services company PT Sinar Mas Multiartha Tbk (SMMA), reducing its ownership from 51.98% to 51.86 percent. PT Lembur Sadaya Investama also sold 4.31 million shares of fashion company PT Bersama Zatta Jaya Tbk (ZATA), followed by PT Kalbe Farma Tbk, which sold 27,900 shares of distribution and logistics company PT Enseval Putera Megatrading Tbk (EPMT). (KD)

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