JAKARTA – Indonesia Stock Exchange (IDX) is closely monitoring the trading activities of PT Shield On Service Tbk (SOSS), which showed unusual market activity (UMA) on Wednesday (5/6). The stock price of this issuer has seen a sharp decline over the past month.

Yulianto Aji Sadono, Head of the IDX Transaction Supervision Division, stated that the announcement of UMA is to protect investors.

"The UMA announcement does not automatically indicate any violations of capital market regulations," he said in a disclosure quoted on Thursday (6/3).

He added that the capital market authority is observing the trading patterns of SOSS shares related to this condition. Investors are advised to monitor SOSS's response to IDX authorities’ request for confirmation, review the issuer's performance and its disclosures, and examine any corporate actions if they have not yet been approved by the General Meeting of Shareholders (GMS).

Prior to being flagged for UMA, SOSS shares were suspended by the IDX in the regular and cash markets from October 20, 2024 and again from October 31 to November 11, 2024, with UMA status also assigned on October 25, 2024.

On Wednesday (5/3), SOSS shares closed down IDR 22 to IDR 270. A total of 35,700 shares were traded in 23 transactions worth IDR 9.57 million.

Over the past week, SOSS stock has declined 11.88%, or IDR 34, to IDR 270 per share, while in the past month, it has dropped 48.08%, or IDR 250. Over the last year, the stock has plunged 41.81%, or IDR 194. (LK/ZH)