Within three consecutive weeks, the wealth of Marina Bodman grew at a daily rate of about $ 350 million. By mid -March, the wealth of Bodman, the most important delegate of the largest company operating in Indonesia, was $ 7.5 billion, and utilized a series of daily increases for the company allowed on the country’s stock exchange, and thus lead the list of the richest women in Indonesia, according to the Bloomberg Millionaires. However, this rapid increase did not last long as the shares of the DCI Indonesia Company collapsed, which led to the loss of Bodman half of its wealth in just three days, in a reflection of the acute fluctuations in the Indonesian stock market. In total, the wealth of Budman, her colleagues and two billionaires and the most important shareholders of the company, Otto Toto Sughiri and Han Arming Hanafi, recorded a win of more than $ 17 billion before falling later. After closing the Tuesday session, the shares have lost more than half of the profits they have recorded since the start of the rise in mid -February. Unreal fluctuations in share prices in Indonesia The unbridled fluctuations in share prices are a common feature and an increased concern in the Indonesian stock market, where the shares of dozens of companies have seen heights of 1000% or more, in moves that seem completely apart from the financial foundations of the companies. For example, the market value of the DCI Indonesia reached about $ 17 billion when the Tuesday session was closed, although turnover last year was no more than $ 112 million, and its net profit amounted to only $ 49 million. However, the company’s shares are traded at a profit multiplier of 416 time, which is the highest among the group of similar companies monitored by “Bloomberg”. Part of this phenomenon is related to poor liquidity in trading the shares of many companies. In the case of “DCI”, Marina Bodman, Otto Toto Sughiri and Han Aring Hanafi, along with billionaire Anthony Selim – the fourth largest shareholder – about 78% of the company’s shares. Of the 2.4 billion amphitheater, only 80,400 shares were traded in Jakarta in the middle of the day, a very low number compared to the usual trading levels in Indonesian companies of similar size. DCI did not immediately respond to a request for comment. The narrow shares and populist policies, Mohit Mirburi, director of a fund at SGMC Capital Pte, established in Singapore, explained that “the fluctuations in the price of the DCI share are very due to the close of the free trade rate.” He added: “The differences between demand and supply prices are small, which can move any significant move in the investment centers to major moves.” The “DCI”, which has the worst performance in the market during the Tuesday session, coincided with a sharp decline in the record index of the Jakarta Stock Exchange, which asked the authorities to suspend the trade for 30 minutes. Traders attributed this decline to a number of factors, including concerns about the populist tendencies of President Prabu Sobanto, forced liquidation operations, in addition to the uncertainty about the future of the finance ministry. Nergonan Tiroschilfam, an analyst at Aletheia Capital in Singapore, described his part what happened by saying: “The wave of sale was a sudden shock in various ways, and the market was completely surprised.” A wedding on the future of data centers before the last collapse in the share price, it is likely that the “DCI” has benefited from investor expectations that the demand for the services of data centers is increasing, which strengthened hope to attract more foreign investment to the sector. In this context, Bloomberg News said on Friday that the company was “Oracle” in discussion with the Indonesian government about establishing a new Cloud Computing Services Center in the country, which added extra momentum to the future expectations of the industry. Marina Bodman, 63, participated in the establishment of the DCI more than ten years ago. Auto Toto Sughiri (71 years old) and Arming Hanafi is also a participating founders.
The richest woman in Indonesia loses $ 3.6 billion within three days
