Investors Question BCA's Integrity
23 April 2014 12:06 WIB
TEMPO.CO, Jakarta - The naming of the former Supreme Audit Agency (BPK) chief Hadi Poernomo as a suspect in an alleged tax evasion case engulfing Bank Central Asia (BCA) has affected the stock price of the company. The stock value of the company had dropped by 125 points (1.12 percent) to Rp11,050 per stock yesterday.
Analyst from Recapital Securities, Agustini Hamid, predicted that the tax evasion case would erode investors' trust in the company.
"Public is concerned with BCA's integrity and the risk management," she said on Tuesday, April 22, 2014.
She added that unless BCA clarifies its situation to the public, the stock price will still be corrected.
"Fraud is not tolerated by investors," Agustini said.
But Agustini said the case was not the only factor to the falling stock price. According to Agustini, concerns over performances in the first quarter of 2014 have made banking sector is less favored in a short run. Slowdown of banking sector performance would also make its prospect to be low this year.
Analyst from BNI Securities, Thendra Chrisnanda, also said that the effect of Hadi Poernomo's case on BCA stock price is temporary. He said that stocks issued by banks have always been favored by market makers.
"Liquidity and large market capitalization made banking stocks always attractive," he said.
MEGEL | M. AZHAR | MARIA YUNIAR