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Indonesia's Armed Forces Social Security Agency (ASABRI) has encountered problems due to investing in speculative stocks. As a result, this state-owned enterprise (SOE) failed in its stock investments. Shares of PT Pelat Timah Nusantara (Latinusa) were included in ASABRI's portfolio.
The share price of this company, with the stock ticker NIKL, has fallen by up to 81% since the beginning of 2019. On January 1st of last year, the price was still at Rp 3,600 per share. However, it plummeted to Rp 675 per share at the close of January 13th, 2020.
ASABRI holds a 10.31% stake in this subsidiary of PT Krakatau Steel (KS) and the Japanese consortium.
"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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