PT Transkon Jaya Tbk, a company in the transportation and logistics sector, revealed that the movement of its stock price is not correlated with the company’s business.
“If we say it, the movement of stock prices has no correlation with the company’s business,” said Geraldine Laurie Manuella Simanjuntak, Head of Investor Relations at Transkon Jaya on Wednesday (7/4/2021).
Geraldine suspected that the decline in the stock price of the company with the stock code TRJA is related to the Covid-19 pandemic.
Based on Bloomberg data, TRJA’s stock on Wednesday (7/4/2021) closed down 1.16 percent or 2 points to the level of 170. The company, which recently went public, set the exercise price at IDR 250 per share.
Until now, TRJA, which started trading on the Indonesia Stock Exchange on August 27, 2020, has a stock price range of IDR 380-IDR 140 per share. Throughout the trading period, the company has recorded a trading volume of 305.97 billion shares in more than 8 months.
Looking at Transkon Jaya’s financial report in the third quarter of 2020, the company did experience a 1.62 percent increase in revenue, amounting to IDR 306.68 billion.
This increase is also accompanied by an increase in net profit to IDR 34.38 billion. This resulted in a profit increase of 10.57 percent compared to the September 2019 report, which recorded a profit of IDR 31.09 billion.
Not even a year into the capital market, Geraldine admitted that the company would still explore the IPO world and the stock exchange.
So far, based on experience, the company claims to be “friends” with crises. This is also the case now when facing the Covid-19 pandemic, which can be considered a crisis for market players.
She revealed that when coal experienced frightening fluctuations in 2017, Transkon instead boosted unit purchases as a company strategy to continue to outperform its competitors.
“If anything, we stand out during a crisis. Because we are friends with a crisis, so we are never afraid of crises,” said Geraldine.
As information, Transkon Jaya is a company engaged in the rental of light vehicles and provides internet network services based in Balikpapan City, East Kalimantan. Lately, the company, established in 2002, has also expanded its business line to the infrastructure sector.
