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The state-owned company engaged in the telecommunications sector, PT Industri Telekomunikasi Indonesia (Persero) or abbreviated as INTI, is known to slowly sell some of its share ownership in the yarn producing issuer PT Sejahtera Bintang Abadi Textile Tbk (SBAT) aka SBA Textile. This sale was made three times since July 12, 2022, with a total of 20 million shares being released. SBAT's shares are known to be trading almost exclusively at the lowest price of Rp 50/share in the past year, except on several occasions, they briefly rose but immediately fell to the lowest level and attracted the attention of the stock exchange authorities who asked for information on the volatility of the transaction.

The last transaction of selling INTI's shares in SBAT was on July 29, so that now there are 680 million shares or equivalent to 14.31% ownership.

INTI, which for more than 30 years has served as the main supplier for the construction of the national telephone network, is known to have entered the textile issuer since the end of April 2021.

Tan Heng Lok, who is the controller of SBAT, is known to have converted 200 million shares or equivalent to 9.31% ownership to INTI on April 20, 2021.

In the near future, Tan Heng Lok also released 115.30 million shares to other investors with a transaction value of Rp 7.34 billion and carried out in three different trading days.

In the same statement, the sale of shares to INTI and other investors said Tan Heng Lok aims to strengthen the company's portfolio.

After holding 9.31% stake in SBAT, the telecommunications state-owned company headquartered in Bandung again increased its share ownership to almost 15% in a textile issuer which is also headquartered in Bandung. Before finally being released slowly in recent times.

In the first three months of this year, SBAT posted a 22% decline in revenue to Rp 33.95 billion. Meanwhile, the company's net loss increased by 84 percent to Rp 15.44 billion.

In addition to being traded at the lowest price limit, SBAT shares also obtained an X notation from the IDX or in other words, they are included in the special monitoring of the stock exchange authority.