Salim Group Long Linked to CMNP's Rise

JAKARTA, investortrust.id – Shares of PT Citra Marga Nusaphala Persada Tbk, or CMNP, surged by up to the auto-reject upper limit for three consecutive days. This sharp rise follows rumors that Salim Group is set to become the controlling shareholder of the company.

The possibility of Salim Group's involvement became apparent after Fitria Yusuf, the daughter of businessman Jusuf Hamka, resigned as CEO of CMNP, followed by Feisal Hamka stepping down from his position as commissioner.

According to data from the Indonesia Stock Exchange (IDX), CMNP's shares skyrocketed from IDR 1,520 to IDR 2,960 within three days, marking a 94.73% increase. The stock has even entered the unusual market activity (UMA) category by the IDX.

Long before the Salim Group takeover rumors, the conglomerate controlled by Anthony Salim had been linked to CMNP, particularly after Hary Tanoe Sudibjo sold his entire stake in CMNP in 2011. At the time, it was speculated that Salim had acquired the shares, though Salim Group has never officially confirmed this.

Salim Group's involvement in toll roads is not new. The group has long been a major player in the toll road sector in the Philippines through its subsidiary First Pacific, Metro Pacific Tollways. This company also completed the majority acquisition of PT Nusantara Infrastructure Tbk (META) in 2017. Currently, Salim Group holds 96.07% of META's shares through Metro Pacific Tollways.

Regarding the possibility of Salim Group taking control of CMNP, Hasyim, the corporate secretary of CMNP, stated in an official announcement to the IDX that the company has yet to receive any notification or correspondence from either shareholders or Salim Group regarding the planned acquisition.

As of December 2024, the largest shareholder of CMNP is BP2S through its BPN Paribas account, holding 59.93% of the shares, while the remaining 39.19% is owned by the public.