JAKARTA. Foreign investors collectively divest their portions in PT Surya Citra Media Tbk (SCMA), the managing company of SCTV and Indosiar, reporting the highest net sell in the market throughout the past three days.

Last Tuesday (26/11), foreign net sell of SCMA’s shares reportedly stood at 8.88 million shares. The foreign net sell was even higher last Monday (25/11), recorded at 590.17 million shares. Last Friday (22/11), it only arrived at 17.61 million.

This offloading trend even put SCMA as the first company in the list of top foreign net sell throughout the last 3 days.

Observed further, an uptrend in foreign net sell of SCMA has been apparent since the beginning of November. Foreign net buy of SCMA was last seen on October 31, 2024.

According to IDNFinancials data, SCMA’s price dropped 5.11% or 7 points lower to IDR 130 per share at today’s (28/11) closing bell. Meanwhile, since the beginning of this year, SCMA has plunged 15.03% or 23 points down.

In terms of fundamental properties, SCMA reported net profit of IDR 507.08 billion as of September 2024, driven by its revenue that reached IDR 5.14 trillion. (KR/ZH)