IPOs on Indonesia Stock Exchange: Malacca Trust Wuwungan lnsurance
On Wednesday (11/10) Malacca Trust Wuwungan lnsurance became the 26th company that listed on the Indonesia Stock Exchange in 2017. The company, subsidiary of Singapore-based Malacca Trust Limited and linked to the family of former president Bacharuddin Jusuf Habibie, is one of the oldest insurance companies in Indonesia (established in 1952).
Through its initial public offering (IPO), Malacca Trust Wuwungan lnsurance released as many as 310 million new shares, or 20.32 percent of the company's issued and paid-up capital, to investors for a price of IDR 100 (approx. USD $0.01) per share. Panin Sekuritas was appointed as underwriter for the IPO.
Malacca Trust Wuwungan lnsurance offers a range of insurance products, including car insurance, property insurance, cargo insurance, travel insurance, personal accident insurance, and hospital cash insurance.
Ilham Akbar Habibie, Commissioner of Malacca Trust Wuwungan lnsurance, said "the IPO is an important moment for the company. This event is the start of a new phase and should lead to enhanced transparency and quality of management in accordance with the principles of good corporate goverment and should provide added value to the stakeholders."
Vientje Harijanto, President Director of Malacca Trust Wuwungan Insurance, said the offering was warmly welcomed by the public, reflected by the company's IPO being oversubscribed 2.1 times. More than 800 investors ordered the company's shares.
Malacca Trust Wuwungan lnsurance generated IDR 31 billion (approx. USD $2.3 million) in new funds through the IPO. These funds will be used entirely to strengthen the company's working capital.
The Habibie family became involved in Malacca Trust Wuwungan lnsurance somewhere in the 1980s when the Habibie family and the familiy behind Malacca Trust Wuwungan lnsurance (formerly known as Asuransi Wuwungan) became close friends (both families originating from North Sulawesi).
In 2011 Malacca Trust Limited, now the Singapore-based holding company, acquired Malacca Trust Wuwungan lnsurance through its Indonesia-based subsidiaries Batavia Prima Investama and Batavia Propertindo Finance.
After the listing of Malacca Trust Wuwungan lnsurance on the Indonesia Stock Exchange there are now a total of 560 listed companies in Indonesia (still a low figure compared to its regional peers).
Last Update: 29 Mar 2021
IPOs on the Indonesia Stock Exchange up to 11 October 2017
| Company | P: 29 Mar 2021 | P: 28 Mar 2021 | Gain/Loss | P/E ttm | Yield % | Gain/Loss YTD |
| Sanurhasta MitraMINA | 79 | 64 | 23.44% | N/A | 0.00% | 58.00% |
| Forza Land IndonesiaFORZ | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Industri dan Perdagangan Bintraco DharmaCARS | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Nusantara Pelabuhan HandalPORT | 490 | 498 | -1.61% | N/A | 0.00% | 16.11% |
| Sariguna PrimatirtaCLEO | 468 | 466 | 0.43% | N/A | 0.00% | -9.13% |
| Pelayaran Tamarin SamudraTAMU | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Cahayasakti Investindo SuksesCSIS | 80 | 76 | 5.26% | N/A | 0.00% | 25.00% |
| Terregra Asia EnergyTGRA | 140 | 142 | -1.41% | N/A | 0.00% | -49.28% |
| First Indo American Leasing Tbk.FINN | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Alfa Energi Investama Tbk.FIRE | 590 | 605 | -2.48% | N/A | 0.00% | -48.47% |
| Totalindo Eka Persada Tbk.TOPS | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Kirana Megatara Tbk.KMTR | 416 | 414 | 0.48% | N/A | 0.00% | 20.93% |
| Hartadinata Abadi Tbk.HRTA | 206 | 208 | -0.96% | N/A | 0.00% | -11.21% |
| Integra IndocabinetWOOD | 770 | 750 | 2.67% | N/A | 0.00% | 19.38% |
| MAP Boga AdiperkasaMAPB | 1,330 | 1,330 | 0.00% | N/A | 0.00% | 3.10% |
| Armidian Karyatama Tbk.ARMY | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Buyung Poetra Sembada Tbk.HOKI | 252 | 254 | -0.79% | N/A | 0.00% | -76.34% |
| Marga Abhinaya Abadi Tbk.MABA | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Megapower Makmur Tbk.MPOW | 82 | 80 | 2.50% | N/A | 0.00% | 22.39% |
| Mark Dynamics Indonesia Tbk.MARK | 1,070 | 1,020 | 4.90% | N/A | 0.00% | -1.83% |
| Ayana Land International Tbk.NASA | 104 | 104 | 0.00% | N/A | 0.00% | 0.00% |
| Emdeki Utama Tbk.MDKI | 224 | 220 | 1.82% | N/A | 0.00% | -8.94% |
| Trisula Textile IndustriesBELL | 143 | 143 | 0.00% | N/A | 0.00% | -9.49% |
| Kioson Komersial IndonesiaKIOS | 590 | 600 | -1.67% | N/A | 0.00% | 4.42% |
| Garuda Maintenance Facility AeroAsiaGMFI | 120 | 120 | 0.00% | N/A | 0.00% | -10.45% |
| Malacca Trust Wuwungan Insurance Tbk.MTWI | 103 | 103 | 0.00% | N/A | 0.00% | 63.49% |
| Combined Total | 7,607 | 7,547 | 0.80% | -13.80% |
Green colour indicates upward movement
Red colour indicates downward movement
P = price; E = earnings; D = dividend; Yield = D/P
"N/A" indicates P/E < 0 (negative earnings)
"-" indicates E,D,P or YTD is not available