Ultrajaya (ULTJ) Provides an Explanation of the Impact of the Free Milk Program

ISSUER - JAKARTA. PT Ultrajaya Milk Industry & Trading Company Tbk (ULTJ) has provided an explanation to the Indonesia Stock Exchange (IDX) regarding media coverage.

Lately, ULTJ has been frequently discussed due to its connection with the free milk program of the Prabowo Subianto-Gibran Rakabuming Raka pair. 

Just so you know, the pair with the number 02 won the 2024 Presidential Election based on the quick count results. The Prabowo-Gibran pair is also currently leading in the real count of the General Election Commission (KPU).

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Several analysts believe that ULTJ's performance will be positively impacted by the election results.

The Indonesia Stock Exchange (IDX) has asked for clarification from ULTJ on whether there is any impact from the quick count results on the company's performance.

”Up to now, there has been no impact of the quick count election results on sales performance,” said ULTJ President Director Sabana Prawirawidjaja in an information disclosure, on Monday (19/2).

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The Exchange also asked whether there is any material information or significant event that could affect the company's survival and the price of ULTJ shares.

”There is no other significant information/event that is material and can affect the company's survival and can affect the company's share price,” said Sabana.