JAKARTA (Yosefardi) – Investors opted to sell shares of PT Bank Central Asia (BCA) Tbk (BBCA) this morning, dragged down the stock by 1.34% to Rp11,025 per share at 10.54 am Jakarta time.
The selling in BCA shares was prompted by tax case. Some 16.89 million shares was exchanged hands.
The Corruption Eradication Commission (KPK) has named Hadi Purnomo, chairman of the Supreme Audit Agency (BPK), corruption suspect related to tax case of BCA when he was director general of tax in the period of 2002-2004.
BCA was said to have received tax facilities as it was granted compensation of no income tax payment for its profits in 2004 onwards. The State missed Rp1.6 trillion of income tax from BCA’s net profit in 2014, which triggered other banks, including BII and Danamon, to demand similar facilities.