The Stock Performance of Bank Yudha Bakti, One of Asabri's Portfolio Companies
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The Indonesian Armed Forces Social Security Agency (PT Asuransi Sosial Angkatan Bersenjata Republik Indonesia or ASABRI) holds a 20.13 percent stake in PT Bank Yudha Bhakti Tbk (BBYB). The bank's share price stood at Rp 284 per share on January 1, 2019, but fell to Rp 268 per share at the close of trading on January 13, 2020.
ASABRI is known to have experienced investment failures after investing in speculative stocks ("saham gorengan"). The share prices of the issuers in ASABRI's portfolio fell by approximately 50 percent to over 90 percent. The state-owned enterprise (BUMN) is also embroiled in alleged corruption.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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