Indonesia's stock exchange questioned the rise in August, and Pollux Properti pointed to an improvement in its financial situation. Fahri Hilmi, a capital markets director at Indonesia's Financial Services Authority, known as OJK, said the group was coordinating with the exchange regarding Pollux Properti's rise. He said Pollux Properti's meteoric share-price rise reflects the company's "investment properties, which will yield recurring income once operational." Pollux Properti doesn't own any land in the area yet, but has begun a feasibility study on several potential sites, he said. Even when taking into account Pollux Properti's undeveloped land, the stock surge since mid-July looks overdone, RHB's Benas said.

Source: The Star October 14, 2019 08:15 UTC