News Update
Wednesday, 08 Jan 2020
PT Bank JTrust Indonesia Tbk. (stock code: BCIC) is actively traded starting on Wednesday, January 8. The Indonesia Stock Exchange (IDX) has lifted the suspension of the company's stock trading.Management of PT Bank JTrust Indonesia Tbk. (J Trust Bank) thanked and appreciated BEI's decision after the company submitted an open suspension request at the end of last year. This is a commitment of management and the controlling shareholder, J Trust Co., Ltd. in complying with the regulations.
According to President Director of J Trust Bank Ritsuo Fukadai, after the reopening of J Trust Bank's stock trading, public/the investors will have the opportunity to invest in BCIC shares so that they can grow and develop with the company."By being active in the Indonesia's capital market, we expect to increase the company's liquidity in the stock exchange. The corporate action is also intended to comply with IDX regulations. In addition, the company's open suspension will provide various corporate action options that can be taken to support the company's growth," said Fukadai.Based on the assessment conducted by the Public Appraisal Service Office Kusnanto & Partners of 100.00% J Trust Bank shares, the company's fair market value of Rp4.51 trillion. Therefore, the company's fair share price after open suspension is Rp450 per share.The trading of J Trust Bank's stock has been stopped by IDX since November 21, 2008. At that time, the company was still named PT Bank Century Tbk and subsequently taken over by the government through the Indonesia Deposit Insurance Corporation (LPS). After going through the restructuring process, LPS changed the name of Century Bank to Bank Mutiara and sold the company through an open tender process to J Trust Co., Ltd. in 2014.This year, the company plans to increase credit expansion and target third-party funds to grow above 25%. The management is optimistic that this year the company will be able to score better performance than the previous year.
