Erajaya Falls 70% from Peak, Peers Below 52%

JAKARTA (Yosefardi) – ICT retailer Erajaya Swasembada (ERAA), operator of Erafone outlets, has plummeted 70.3% from its peak, the worst performer among retail companies in the past few weeks.
Erajaya ended further down to Rp1040 Friday (August 23) to make a market capitalization of Rp3.01 trillion, less than half of competitor Trikomsel Oke (TRIO). TRIO has only dropped 40% from peak to Rp1320 on Friday to make a market cap of Rp6.29 trillion.
Last year, Erajaya generated sales revenue of Rp12.9 trillion, while Trikomsel Rp9.6 trillion.
Tiphone Indonesia, another ICT retailer, lost only 35% from its peak to make a market capitalization of Rp2.66 trillion.
Other retailers with substantial correction from peak are Mitra Adiperkasa (-51.8%), ACE Hardware (-44.6%), and Ramayana Lestari (-35%). Matahari Department Stores and Matahari Putra Prima also lost 17.6% and 36.5% from their respective peak.