The Indonesia Stock Exchange (IDX) ranked state-controlled mining company Aneka Tambang (or, Antam) as "the IDX Best Blue 2016". This ranking determines the best performing companies - listed on the IDX - in the period September 2015 to August 2016 based on matters including fundamental analyses, IDX monitoring, investor confidence, and active trading. Antam will have a template hanging on the walls of all IDX branches across Indonesia, a move that should encourage other listed companies to enhance their corporate performance.
Tito Sulistio, President Director of the IDX, said several criteria were used when determining the ranking for the "Top Ten Blue 2016" and "IDX Best Blue 2016". Considering that there are 535 listed companies on the IDX that all have a different market capitalization (ranging from small to huge) as well as different business structures, financial strengths and characteristics, it is difficult to find criteria that are considered to "be fair".
The IDX used the following criteria to determine the ranking:
- Having listed on the IDX before August 2015
- Its shares have never been suspended
- At least 7.5 percent of its shares are floating freely on the IDX
- Having fulfilled its financial reporting obligations for June and December 2016
- Does not have negative equity
- Its shares are actively traded on at least 80 percent of the trading days between September 2015 and August 2016
Sulistio said 419 listed companies met these criteria. The next set of criteria to determine the ranking is based on the number of shareholders and average transaction volumes. Secondly, the IDX looks at the return on equity (or ROE) to measure the profitability of a company in relation to the book value of shareholder equity. Lastly, the share price performance (over the September 2015 - August 2016 period) is used to determine the ranking as well as the amount of shares that are purchased by mutual funds.
IDX Best Blue & IDX Top Ten Blue 2016:
|IDX Best Blue 2016
|IDX Top Ten Blue 2016 (random order)
|Matahari Department Store|
|Bank Rakyat Indonesia|
|Pelat Timah Nusantara|
|Perusahaan Gas Negara|
|Sri Rejeki Isman|