TEMPO.CO, Jakarta - The call to boycott Indosat Ooredoo today decorates Twitter as thousands of posts from Indonesian users included the #BoikotIndosat hashtag, making it a trending topic.
In the stock market, the cellular operator's share (IDX: ISAT) fell. ISAT opened today's trade at Rp6,650 or down 25bps (0.37%) compared to yesterday's closing price. At the end of the first session, the share plunged deeper by 150 bps (2.25%) to Rp6,525.
However, according to Bina Artha Securities' chief researcher Reza Priyambada, Indosat's decline was not necessarily caused by the online boycott call. Reza said the company's shares have been declining since the release of its first quarter's finances.
"It seems that since ISAT announced a profit decline in quarter one, the share performance continues to decline," he told Tempo, Tuesday, June 6.
In the first quarter of 2017, ISAT posted a net profit of Rp173.9 billion. The figure represents a 19.9-percent year-on-year decline from 2016/Q1's Rp217.2 billion profit.
According to Reza, Indosat's decision to fire its business intelligent & reporting manager Riko M Ferajab is the company's internal affair.
At the Indonesia Stock Exchange (IDX) today, Indosat's share price fell along with the Jakarta Composite Index's (JCI) correction. The JCI opened with a slight decline of 4.84 bps (0.08%) at 5,743.39.
At the end of session one, the index weakened by 17.92 points or 0.31% to 5,730.31.
DESTRIANITA