JAKARTA (Yosefardi) – Investors continued selling shares in Hartawan Holdings Ltd and Asiasons Capital Limited in stock exchange of Singapore (SGX) Wednesday (Oct 16).
Hartawan dropped further 23.78% to S$0.039 related to uncertainties surrounding the later’s acquisition of mining assets in Indonesia.
On Monday (Oct 14), the company announced its acquisition of gold assets in Indonesia, but yet to finalize the acquisition due to changes in mining divestment policies in Indonesia.
Meanwhile shares of Asiasons Capital Ltd, which also has an indirect investment in Indonesian retail business, also plummeted 22.3% to S$0.031. Blumont Group and LionGold fell 16.33% to S$0.123 and LionGold declined 7.45% to S$0.012.
Market capitalization of Asiasons, Bluemont, and LionGold have dropped by over 90% compared to their market capitalizations at their peak prices.