PALMOILMAGAZINE, JAKARTA — Shares of PT Jhonlin Agro Raya Tbk. (JARR), the palm oil company owned by businessman Haji Isam, have been in the spotlight after recording a sharp increase over the past month. Despite the surge, company management stressed that there is no material information or corporate action driving the jump in share price.
In a statement to the Indonesia Stock Exchange (IDX), JARR Director Temmy Iskandar confirmed the company has no knowledge of any fundamental factors behind the sudden spike. “The company is not aware of any information or material fact that could affect the value of its securities,” management wrote in an official disclosure.
Shares Up 74% in Less Than a Month
The stock’s rally has been striking. On July 24, 2025, JARR shares traded at Rp450 per share. By Tuesday (August 19), the price had soared to Rp785 per share—an increase of 74% in less than a month. On one trading day, the stock even jumped 6.08% or Rp45.
Such sharp movements prompted the IDX to request clarification, as the volatility was not accompanied by any announcements regarding corporate actions, acquisitions, or new business expansions.
Management reiterated that, as of now, JARR has no plans for corporate actions that might influence its stock price. The company also denied any undisclosed material events or shareholder activities. “If in the future the company intends to undertake any corporate action, it will be duly reported to the Exchange in accordance with applicable regulations,” management noted.
Founded in 2014 in Tanah Bumbu, South Kalimantan, JARR focuses on oil palm plantations and processing industries. Although relatively young compared to established players, the company has drawn investor attention amid the global uptrend in crude palm oil (CPO) prices.
Even so, analysts believe the recent volatility in JARR’s shares has been driven more by technical factors and market psychology than by changes in business fundamentals—prompting caution for investors considering short-term positions. (P2)
