Research

TOWR: Is There Another Corporate Action?

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Algo Research Team

Company | Jan 18, 2023 | Views: 100

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Key Summary:

  • Hartono family added 5% stake at 1,300/share in Sep-22
  • What is the group planning with the company?
  • Fundamental is decent with an attractive valuation

"Follow the money". This is one of the phrases in investing which will likely, more often than not, give a decent return. This phrase essentially means that big investors with buying power tend to know more information or analysis than retail or minority investors, hence they will invest or trade with a better edge. Of course, it's not going to be 100% accurate all the time, as big investors are also human after all.


With this in mind, let's look at TOWR which is owned by the Hartono family, the richest in Indonesia. The track record of this family speaks for itself (BBCA & Djarum) with a total net worth approximately USD50bn (IDR750tn) according to Forbes. Through PT Sapta Adhikari Investama (SAI), the family owns 54.4% stake in TOWR that has a USD5bn (IDR60tn) market capitalization.

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