Gocapan Threat

Andrianus.my.id  -- This year was not a happy ending for GoTo. The share price, in the stock market, you already know: it's like knowing you've been hit with a hammer. Only IDR 97/share left at the closing last Friday. In fact, there was only Rp. 94. Even Rp. 82. A few minutes.

And last Monday it was still down again: Rp. 87 / sheet. Maybe there will be a certain effort to stay in that range. So as not to fall into the stock of Gocapan. Who knows.

You already know the reason : a large number of shares that were previously prohibited from being traded, have been allowed to be released to the market.

The number of shares of this type reaches hundreds of billions of shares. You already know the owner: there are Singaporean and Chinese companies, investment institutions and a little bit of Boy Thohir. GoTo's bit size is 1 billion shares. Less than 1 percent.

But Gojek-Tokopedia (GoTo) management is calm. Capital market people, are not surprised by the ups and downs of stock prices. Even if the price falls freely, it will stay less than 29 percent. From IDR 338/share at the start of the IPO to IDR 97 last Friday. Even though the day after the IPO on April 11 2022, GoTo shares had risen to IDR 388.

Apparently, as soon as GoTo's IPO reaches 8 months, November 30, 2022, the selling ban ends. The shareholders released their shares. Even since November 28, 2 days before that limit, GoTo's share price has started to fall. All players must have counted: there will be a massive release of shares after November 30th. In the hundreds of billions of shares. Before it really fell, someone had already started going down the stairs. Prices have really fallen. Up to 11 days in a row. Stop a moment down again. Until last Friday.

The gap was so deep that the IDX (Indonesian Stock Exchange) included GoTo in UMA: unusual market activity .

Thus ended the GoTo frenzy. The noise was extinguished. History is history: this is the biggest IPO in the history of the Indonesian capital market. Up to 2 percent of Indonesia's GDP. The shock was like the explosion of Mount Tambora. Its IPO was in the Jakarta capital market, the earthquake reached New York.

That day, said April 11 2022, GoTo received around IDR 160 trillion in new money. In a day. My glare is like eyes staring at the sun at 12.00 noon.

When GoTo 's stock price dropped recently, social media was full of GoTo gossip. Starting from who owns the shares, how many trillions of rupiah Telkom has lost, how much the management's salary is, to why the OJK has not intervened.

Telkom has always said that it cannot be said that it is a loss. Telkom's investment in GoTo is indeed large. Around IDR 6.4 trillion. Namely to buy as many as 23.7 billion shares. Apparently, Telkom (via Telkomsel) got a special discount. From the IPO price of Rp. 338/share, it is enough to buy Rp. 276/share.

When GoTo's share price rose to Rp. 388 on April 12 2022, Telkom made a profit of around Rp. 2 trillion. But Telkom cannot sell shares on that date. The shares he bought were discounted shares. Cannot be sold for 8 months.

Unfortunately, when the 8-month detention period passed, GoTo's share price was only Rp. 97 per share. Telkom lost around Rp 4 trillion.

Fortunately, the Rp. 2 trillion was only on paper. The loss of Rp. 4 trillion was also on paper. What is clear is that at the close of this year's book, Telkom's assets fell by around Rp. 3 trillion from what it should have been. This is no longer on paper.

Of course Telkom has to wait for the share price to rise again.

When?

No one knows. This year GoTo still loses around IDR 23 trillion. If the old losses are added, the total losses reach IDR 100 trillion.

But according to GoTo CEO Andre Sulistyo, this year's big losses were mostly due to stock base compensation. Take it easy. Not a cash loss.

How to explain this? Easy. This means that GoTo pays its leadership in two ways: some are paid with money, some are paid with shares.

Their monthly salary, said Andre, is not more than that of large companies. That's in the form of money. GoTo management's salary expenses, for 9 months this year, amounted to IDR 22.9 billion. That means around Rp. 1.5 billion a month. Split for about 10 people.

The salary is reasonable: around IDR 150 million/month/person. Even less big. Especially for a company that has been able to get Rp. 160 trillion in one day.

That is why these leaders still receive a salary in the form of stock base compensation (SBC). Compensation in the form of shares. They are given shares. Its value, it is said, reached around Rp. 11 trillion. Split, supposedly, for about 10 of those people.

This type of shares includes those that may not be sold during the agreement. Maybe for 4 or 5 years. The goal: to get the company's leadership to work hard to increase the stock price.

I don't know the IDR 11 trillion based on the share price. You don't know either. Those in the know. It is possible that the figure of Rp. 11 trillion is now also only 25 percent.

Stock base compensation is different from an ESOP (Employee Stock Option Plan). Because of the form of compensation , the Rp. 11 trillion must be recorded as expenditure.

Registration must also be done in the first year. That is when the compensation was implemented. So in GoTo's book records there should be an expenditure of IDR 11 trillion this year. Non-cash expenses. Even though the compensation could be locked for 5 years.

This is different from an ESOP. In ESOP, management and employees do get shares, but they are in the form of options. Then it is recorded in the books in the equity column. That's how the accounting system should record it

You bought GoTo stock? The value went down?

You certainly lose. But the GoTo boss might lose even more. At the start of the IPO, the company's value was around IDR 400 trillion. Now only Rp. 97 trillion. This is the Rp. 97 trillion note that is written using the word ''stay''.

So don't be discouraged. You can keep smiling with this humor: when you buy 5 kg of oranges on the side of the road and they turn out to be sour, the seller can still cheer you up. "You only buy 5 kg. We, you know, buy 1 ton of all sour." (Dahlan Iskan)

Dahlan Iskan's Choice Commentary on December 20, 2022 Edition Writing: Lucky Messi

Leong putu

Drink Cola, eat first / Tuna pepes in a basket / Football fever has passed / Presidential candidate fever is coming soon / ... 365_mantun pepes

Faiz stall

Yep..that's right bro Denik and Mr. JM, the world cup final this time is the best I've ever watched.. It was 2-0 down and the ball was fully controlled by Argentina in the first half, France was able to equalize it in the second round... When extra time 115th minute Messi scored a goal, I thought it was over.. So I left for a moment to go to the bathroom.. The audience cheered, I quickly finished my wish.. And what happened was the penalty, Mbape.. goooll Wooww, I got goosebumps right away.. .. an extraordinary match..

Very Kasela

Please form the Batam Regional Disway Riot first so that it will become the host next year

Fiona Handoko

dude mirza, read the campus of Prof M Nuh, Joseph Fourier University. reminiscent of the mathematical theory of the Fourier transform, the Fourier series. The complexity of Mr. Fourier's theory makes me think twice about studying engineering

Dodik Wiratmojo

CR7 is most miserable, his dream hasn't come true, for a moment he can forget about the tragedy of the proposal that has floated up to now

Purnomo Inzaghi

Slight error: Argentina has not won the world championship for 36 years, not 30 years, because they last won in 1986 during the era of the god Maradona. I and many football enthusiasts will definitely agree that the 2022 World Cup final is a dramatic, epic heroic final and who knows what else, the two best teams with top-notch techniques present exciting matches that are a shame to miss minute by minute. The game went on without any serious fouls, bickering and controversy….the referee wasn't even interested in looking at the VAR though, no sign of doubt. Even though the match went to extra time and a penalty shootout, the two teams continued to play spartan. But come on, it's over. This year's final will be remembered forever. Let Kylian Mbappe be disappointed that his hat-trick failed to win France... after all, yesterday's world cup he already won and with his age he can still play in the next 2 or 3 editions of the world cup. Let Messi embrace the world cup trophy, his career is complete. He is a footballer with the most complete collection of titles, league champions, junior world cups, UEFA champions, UCL champions, super cups, club world cups, copa america, Europe's best players, world's best players.... I don't think there is a football player anywhere in the world who has a collection of titles as much as Messi. Now there will be a mini World Cup, the ASEAN version, namely the AFF Cup 2022. Our proud national team, Indonesia, will compete. As always, our goal is to win. junior world cup, UEFA champion, UCL champion, super cup, world club cup, copa america, best European player, best player in the world.... I don't think there is any footballer on earth who has as many titles as Messi. Now there will be a mini World Cup, the ASEAN version, namely the AFF Cup 2022. Our proud national team, Indonesia, will compete. As always, our goal is to win. junior world cup, UEFA champion, UCL champion, super cup, world club cup, copa america, best European player, best player in the world.... I don't think there is any footballer on earth who has as many titles as Messi. Now there will be a mini World Cup, the ASEAN version, namely the AFF Cup 2022. Our proud national team, Indonesia, will compete. As always, our goal is to win.

Mirza Mirwan

"France why Argentina, sir?" asked Udin, my neighbor who is a bricklayer, after the Isya congregation. Udin, whose name on his KTP is indeed Udin, is indeed a TV addict. Jump or delay. "France, Mas," I replied. "How come France, sir, do you want Argentina?" "Ora! If you win, then you lose, especially France!" "I'm looking to go to Argentina, sir." It turned out that Udin's champion won. Even though I favor France based on the following considerations: * The two teams are filled with almost the same players as those competing in the 2018 World Cup in Russia. * In 2018 the captain of the French team was Hugo Llorist who was the goalkeeper, while the captain of the Argentina team was Lionel Messi. * In 2018 Messi and his team were beaten by France in the round of 16 with a score of 4-3. * In Qatar Hugo and Messi are both still wearing the captain's armband. Uh, in the first match Argentina lost to Saudi Arabia. Although then France also defeated Tunisia. * France came to Qatar with the status of defending champion. In the final faced the same Team that had been defeated four years earlier. As soon as 120 minutes were finished and the score remained 3-3, I had a bad feeling that Hugo Llorist usually anticipates the wrong way when facing a penalty kick. And so, the French second and third kickers too, to borrow Mr. Sabarikhlas' term, goblik. So Messi, as captain, is on par with Diego Maradona and Daniel Passarella, being able to win the World Cup for Argentina. * France came to Qatar with the status of defending champion. In the final faced the same Team that had been defeated four years earlier. As soon as 120 minutes were finished and the score remained 3-3, I had a bad feeling that Hugo Llorist usually anticipates the wrong way when facing a penalty kick. And so, the French second and third kickers too, to borrow Mr. Sabarikhlas' term, goblik. So Messi, as captain, is on par with Diego Maradona and Daniel Passarella, being able to win the World Cup for Argentina. * France came to Qatar with the status of defending champion. In the final faced the same Team that had been defeated four years earlier. As soon as 120 minutes were finished and the score remained 3-3, I had a bad feeling that Hugo Llorist usually anticipates the wrong way when facing a penalty kick. And so, the French second and third kickers too, to borrow Mr. Sabarikhlas' term, goblik. So Messi, as captain, is on par with Diego Maradona and Daniel Passarella, being able to win the World Cup for Argentina. to borrow Mr. Sabarikhlas' term, goblik. So Messi, as captain, is on par with Diego Maradona and Daniel Passarella, being able to win the World Cup for Argentina. to borrow Mr. Sabarikhlas' term, goblik. So Messi, as captain, is on par with Diego Maradona and Daniel Passarella, being able to win the World Cup for Argentina.

Agus Suryano

SIMBAH WORD.. During the Kanjuruhan event, the solution was fake. The cause of the problem is not handled properly. Handling is only finished until "the important thing is not noisy anymore". Then the WORLD of football will still belong to the WORLD. #Indonesia, people - officials - and players, just NOBAR..

Jhelang Annovasho

I once talked with FIK children. Faculty of Sport Science. I asked, why do we always lose as a sport of football (or never lose against Argentina, cak Lontong's version)? The answer seemed to be on the edge of surrender: fate. Physically we lose. Low resistance. Short body. The run is not fast. slow thinking too. Then he had a brilliant idea. Ambitious idea. Asking genetic friends for help researching and making superior genes. Superior genes are embodied into superior humans, superior teams. 14 members of the team excelled to become a football team. He said that only in that way can we lose football against Argentina. I mean, who knows, even if they lose, they will compete with Argentina. At the end of the conversation I considered this friend a little shy. There's still a lot that can be fixed. why even think that hard to do. Although that can and a lot of it is also difficult. But badminton can. Why not football?

Lukman bin Saleh

Hopefully Disway rioters who have drowned like Paul Ivan, Anak Alay, know Ummi Hilal read Abah's invitation. How happy would Abah be if he met them, especially if he met Ummi Hilal...

Deni K

If it's hard to win The rules have been changed. With the power of money of course. An example of broadcast times for the English league following Asian hours. Because Asia is a source of money for them.

Mahmud Al Mustasyar

Calm down bro!!! After hosting the 2036 Olympics at IKN later; will continue by hosting the 2038 world cup. Hopefully, Indonesia can qualify and become the champion. Despite all that, it turned out to be just a dream and fantasy of a Bangkotan like me.

Erwan Saripudin

The people of Argentina have been free for a very long time, 212 years. In my opinion, this country is so old that it should be compared with the same age as the story told by Sebastian Tito with his deadly ax 212, the people who gathered under the tall monument also reminded me of the commotion 212 in Jakarta which gathered around the Istiqlal mosque at the time that. The country's economy is declining, but the people and football players are getting wiser, in the sense that they are good at sharing and win games without insulting their opponents. Argentine players are good at sharing, this was read when they deliberately won the Kingdom of Saudi Arabia so that the players in the KSA team were awarded 1 unit of Roll Royce each. Many said the gift was from Prince MBS, but really it is the generosity of the Argentinian players that Messi captains. Second, Argentina could have won a landslide 3-0 win over France, but the tanggo player knows that so many supporters under the Eifel auspices are deeply disappointed and make it a psychological punishment for his players. Messi et al didn't do that, he chose a final match which likened a ball game to not a matter of cleverness in moving the ball, passing left and right by midfielders, or breaking opponent's attacks. The ball must be understood as a game of luck like which currency is chosen to start football, so is mastering it. but the tanggo player knows that so many supporters under the auspices of Eifel are deeply disappointed and make it a psychological punishment for the players. Messi et al didn't do that, he chose a final match which likened a ball game to not a matter of cleverness in moving the ball, passing left and right by midfielders, or breaking opponent's attacks. The ball must be understood as a game of luck like which currency is chosen to start football, so is mastering it. but the tanggo player knows that so many supporters under the auspices of Eifel are deeply disappointed and make it a psychological punishment for the players. Messi et al didn't do that, he chose a final match which likened a ball game to not a matter of cleverness in moving the ball, passing left and right by midfielders, or breaking opponent's attacks. The ball must be understood as a game of luck like which currency is chosen to start football, so is mastering it.

Pryadi Satriana

Is it necessary to pray to win in the game? NO NEED! If Allah 'heard' the prayers of the French supporters, then the Argentine supporters would 'protest'! On the other hand, if the prayers of the Argentinian supporters 'hear', then the French supporters will 'protest'! So, Allah 'answered' through the words of Rasulullah SAW, "Antum a'lamu bi agedi dunyakum." God also 'answered' through Mario Teguh, "Super greetings! If you want to be champions, prepare your winning mentality. You also deserve - by trying your best, better than your competitors - so that you really deserve to be champions. That's how ." Regards. Rahayu.

EVMF

What is written in CHD according to my opinion is not a prayer, because God is fair, while the essence of prayer is unfair, how can such a prayer reach the Presence of the Most Holy God. Meanwhile, my comment below is based on theology, it's best to read and pay close attention to Prof. Pry.

Pryadi Satriana

Thank you, Mr. Liang YangAn. I feel healthy, and I hope that I can learn gymnastics from Mr. Dahlan Iskan in Agrinex Village, of course after I 'nyuwun ngapuro' because I was thought to often 'bully' him in my comments, even though I never meant to 'bully', it was just 'Ngojlok' spontaneously, he..he.. Always be healthy, Mr. Liang. Regards. Rahayu.

MZ. ARIFIN UMAR ZAIN.

At least you have to pass the aerobics running test, run 1.5 miles = 2,414 m, with 12 minutes.

Liam Then

Have you ever seen a special video covering supporters of a well-known soccer club in RI? Horrified, the supporters were specially trained in the military style, rows and rows. Do you want to have fun celebrating football, or go to war? If at the supporter level, the tendency to entrenchment is ingrained like wanting to go into war while watching a sports match. The essence of the word exercise, it feels so lost. For the sake of defending my beloved club, forgetting the hard work of your parents at home, rice to raise their children. Together, they participate in activities that can endanger themselves, which have a big risk of fights and clashes. This kind of culture is unhealthy for the world of football in Indonesia. It must quickly become the attention of the minister of youth and sports, so that it can disappear from the world of Indonesian football. Ideally, a visit to the football stadium is to enjoy competing football techniques, win, be happy, lose, that's it, next week there will be more. Keep supporting your favorite team, so that the next game will be better. Not winning, mocking, losing rioting. Look at the phenomenon on social media. Take a special look at the commotion between Messi and Ronaldo fans. Forgive me already the level of hostility.

Liam Then

If studied according to the law of attraction of the universe (law of attraction). It was proven by the fact that the tango team supporters knelt together in the square as a symbol of their strong hope that their team would score a goal. It is clear that the power of attraction is on Argentina's side, so that in reality what happened, Argentina won the world. But, if you think about it further, is it true that this law of attraction, if true, why did India and China, whose populations were so exploding, failed to enter the final tournament of the world cup? People who believe in the theory of the law of attraction will surely reason, that in India the prima donna is cricket, in China the prima donna is not even a particular sport, but money. So naturally no team they are not in the world cup final. So , in Indonesia how? Law of attraction experts might say. "Hmmm, in Indonesia what is a priority for many people might not be football, but paying motorcycle loan installments, so that's why our national team has never appeared in the world cup final."

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