Relatively cheap price valuation, KRYA's controlling shareholder is ready to buy shares

The controlling shareholders of PT Bangun Karya Perkasa Jaya Tbk, (KRYA), namely PT Bangun Karya Artha Lestari (BKAL) and Mr. Dharmo Budiono - Main Director of KRYA, and Mrs. Brigitta Notoatmodjo - Director of KRYA bought KRYA shares on the Indonesia Stock Exchange with the aim of investing.Dharmo Budiono said, "The movement of KRYA's share price throughout 2023 can be considered an anomaly and does not really reflect the valuation and performance of the Company." KRYA has been listed on the Indonesia Stock Exchange since July 25, 2022, with an IPO price of IDR 125 per unit. KRYA's share price recorded its highest position at the level of IDR 625 per unit share on December 28 2022. Meanwhile, throughout 2023 KRYA's share price has corrected more than 86.47% and closed at the level of IDR 69 per unit share on trade June 6 2023 .

Even though from a fundamental standpoint, during the first 5 months of 2023, KRYA has pocketed a new contract of IDR 29 billion, and plans to get a contract from Pelindo of IDR 21 billion. Meanwhile Brigitta Notoatmodjo admitted, "The move to buy back shares circulating on the Indonesia Stock Exchange is expected to provide added value for loyal shareholders and investors who have held KRYA shares since the start of the IPO." To facilitate this buyback action, BKAL and KRYA's Board of Directors will budget KRYA's share buyback fund up to a maximum of IDR 5 billion, which comes from personal funds and dividends from shareholders.For information, the controlling shareholder of KRYA is BKAL with a share ownership portion of up to 48.09%, meanwhile Dharmo Budiono holds 16.53%, Brigitta Notoatmodjo who also serves as Director at PT Bangun Karya Perkasa Jaya Tbk, is recorded as holding 13.53% and The community holds 21.86%. For information, the shares registered in the name of BKAL, Dharmo Budiono and Brigitta Notoatmodjo are still in script form.