Jakarta, August 18, 2017 - The Indonesia Stock Exchange (IDX) authority today suspends the movement of MKNT Shares in trading today. This suspension is suspected because of the very aggressive rate of MKNT on the stock exchange floor. Even it has been able to break the 1,300 level as the highest level during the last 2 weeks.

 

In stock trading on Wednesday (16 August 2017) MKNT shares closed at Rp 1,320 per share. Go up by 125 points or 10.26%. Throughout the trade, MKNT shares are in the price range of Rp 1,225 to 1,425. Trading volume was recorded at 1,585,200 with market capitalization value up to 1.32 trillion rupiah. Compared with the price of MKNT shares at the end of July 2017 which only Rp 440, - per share then the closing price is the highest level, with the record of increase, up to 200%. Even when referring to the initial price at the IPO of Rp 200 per sheet, then the increase has reached 560%.

  

Corporate Secretary, Ornella Bartin, said the massiveness of MKNT's stock movement is inseparable from the company's positive performance during the first semester of this year. The corporate action in the form of acquisition of 3 subsidiaries engaged in the sale of credit (prepaid vouchers), makes the company's main activity as one of the largest Telkomsel prepaid vouchers distributor is growing rapidly.

 

The impact is seen in the consolidated financial statements of the I & II quarter this year are sharply increasing In Q1 2017, the Company's revenue grew by 438% to Rp 1,05 trillion from Rp 195.97 billion, while profit grew by 203% to Rp 7.88 billion from Rp 2.60 billion. Positive growth also occurs in Q2 in 2017, which shows 452.94 percent increase in revenue to Rp 2.85 trillion from Rp 516.72 billion. Similarly, company's profit significantly increased 393.39% to Rp 23.14 billion from Rp 4.69 billion.

"Earlier this year we have acquired 3 subsidiary company at once, so from the first trimester until the first semester we have started the consolidation. So the performance of the company has significantly increased, "said Ornella.

 This, continued Ornella, is expected to be a positive sentiment for the rate of movement of MKNT shares in the stock market. Because until now there has been no corporate action or other corporate activities that could potentially trigger the movement of MKNT.

 "Probably because the fundamentals are strong enough. It can be seen that the company's revenue and profit in Q1 and Q2 increased significantly. I think that's influential enough. That what moves MKNT's shares, "he said.

In addition, the acquisition of a new start up named Kioson also seems to be responded very well by market participants. Although the value of the investment disbursed by the company in the new e-commerce company is still low, only 4.94%.

 "Although it's still low, but the market seems to know, if the future potential in e-commerce is very great Because trend in the future will switch to digital systems. And we've started that from now on, "he said.

 PT Mitra Komunikasi Nusantara Tbk is one of the largest distributors of Telkomsel's prepaid vouchers sales with net sales of Rp 2.85 trillion and profit of Rp 23.14 billion as at 30 June 2017. The company released 200 million shares to the public since October 26, 2015 with the initial price of Rp 200 per share.