ANTM - Failed on appeal effort of lawsuit case

ANTM - Failed on appeal effort of lawsuit case ANTM comes to be defeated in its appeal effort regarding the lawsuit to purchase 1.1 tons of gold after receiving rejection by Supreme Court, It strengthens a position of Budi Said - a Surabayan Conglomerate, to receive 1.1 tons of gold or equivalent of IDR1.10 tn cash. (Source: Kontan) Comments: We see it deliver negative sentiment to the company as well as its stock movement temporarily. In accounting basis, ANTM has put it into ST-provision item in 2Q23 financial release which is likely not to broadly impacted to ANTM's performance.