Basis Investment is reportedly planning to acquire the shares of a textile chemical producer, PT Chemstar Indonesia Tbk (CHEM). This investment is to support the Basis Investment plan to enter into a business that cares and is environmentally friendly or environmental, social, and corporate governance (ESG). A number of capital market players said that the information had been circulating since last week. Even though there is no information disclosure regarding this acquisition, CHEM's share price has skyrocketed. Investors expect that the movement of CHEM shares will be similar to that of PT Singaraja Putra Tbk (SINI) and PT Sanurhasta Mitra Tbk (MINA).

Basis is listed as the owner of 12% SINI shares through PT Basis Energi Prima. Meanwhile at MINA, Basis holds a 45.71% stake through PT Basis Utama Prima. Based on RTI data, SINI's share price has flown 385% in the past month. Meanwhile, MINA shares have risen from the gocap graveyard since November 28, and have strengthened 50% in a month.

"Investors' expectations of CHEM are very high because seen from any angle, CHEM is much better than MINA and SINI," said one market player close to this group. Still according to the same source, CHEM and Basis Investment have already held a meeting and will announce the acquisition plan in the near future.

Other capital market players guess that this investment plan is Bas Investment's big vision in meeting global demand for environmentally friendly and low carbon products. Including liquid products and chemicals that support the world's textile factories. "The world has changed, now ESG is the main factor so that textile companies and the textile industry can get orders from Europe and America. Issuers who are more prepared to decarbonize will benefit," he said.

Basis Investment is an investment company controlled by 2 well-known figures, Hapsoro Sukmonohadi and Arsjad Rasjid. Basis Investment, through its various business entities, is classified as aggressive in investing in the Indonesian capital market. They entered PT Archi Indonesia Tbk (ARCI), PT Sanurhasta Mitra Tbk (MINA), PT Red Planet Indonesia Tbk (PSKT), PT Singaraja Putra Tbk (SINI), and PT Rukun Raharja Tbk (RAJA). The last issuer is controlled by Happy Hapsoro.