Economic Crisis Erupts. Tara Enterprises' Stock Plunges the Most.
Jakarta. Over the past few days, the stock prices of several major companies have been gradually declining due to worsening macroeconomic conditions. However, today, the national economy has taken a severe downturn. The economic crisis has erupted like a volcano. Experts believe this situation is an anomaly but still makes sense, given the sluggish consumer activity. Unfortunately, some companies are struggling significantly to cope with this crisis. Below are the five companies with the steepest stock price declines over the past five days. The most expensive stock is listed at the bottom.
(Stock price per share)
1. Wiranata Farming Company (WNFC) â from Rp17,500 to Rp15,750 (-10%)
2. Putra Furniture Group (PUFG) â from Rp14,000 to Rp12,320 (-12%)
3. Alfajaya Retailing Group (ALRG) â from Rp23,200 to Rp18,560 (-20%)
4. Ekanusa Tractor Company (ENTC) â from Rp25,800 to Rp20,640 (-20%)
5. Tara Enterprises (TARA) â from Rp75,700 to Rp22,710 (-70%)
***
Tara Enterprises. The company my grandfather from my father's side left behind. It was originally named Mora Enterprises before it was renamed, as per my father's wishes. The name "Tara" comes from his own name, Bataraâa request that was explicitly stated in my grandfather's will.
Long story short, my grandfather ran the company for twenty-five years, focusing on agriculture, fisheries, and plantations. Then, when I was thirteen years old, he transferred fifty-six percent of the company's shares to my father. From that point on, for fifteen years, the company expanded aggressively into multiple industriesâbranching into real estate, mining, logistics, pharmaceuticals, oil, and renewable energy.
***
"Hello, Mom."
"Wisnu, where are you, son?"
"I'm at the hospital, Mom."
"Are you sick?"
"Oh no, Mom. I'm here for a friend."
"Ohh... Alright then. Your father wants to talk to you."
I knew my mom sensed something. But she skipped asking further because there was a more pressing issue. From the other end, my mom handed the phone to my dad.
"Wisnu, have you read the news?" My father got straight to the point.
"Yes, Dad."
"Go to the headquarters now. Meet with Tony. Discuss this issue with him. It's time for your knowledge and skills to benefit the family."
"Understood, Dad."
My mom took the phone back.
"Hello, son. Okay, go ahead and take care of what your father asked. Oh, and after that, we need to talk about your 'friend' at the hospital, okay?"
A mother's intuition is truly sharp when it comes to her child.
"I'll tell you later, Mom. And I'm sure you'll like the story."
"Alright then. See you soon, dear."
Mom ended the call.
***
Back to the main issue. It was 9:30 AM. Talia's surgery would take another three to five hours. I stared at the operating room door at the end of the quiet corridor. In my heart, I said, "I'm sorry, Talia. I can't keep my promise this time."
I then approached the old man who was still sitting anxiously in the waiting area. I knelt before him, gently holding his hands.
"Grandpa, don't worry. Your granddaughter will be fine. She is in the hands of an expert."
"Thank you, son. Thank you." He squeezed my hands in return.
"Oh, and Grandpa, I apologize if this is rude, but could I ask you for a favor? Please let Dr. Talia know that I had to leave to handle a family matter."
"Of course, son. I will tell her."
"Much oblige, Grandpa."
I got up and hurried toward the city centerâstraight to Tara Enterprises' headquarters.
***
In less than thirty minutes, I arrived at the parking gate. After taking the parking ticket, I drove into Tara Enterprises' compound and reached the lobby entrance facing a fountain.
Oh.
The area was swarming with reporters. Security guards held them back. The company's situation had become prime media fodder.
I changed my mind about using valet parking. Instead, I drove down to the basement and parked the car myself.
Inside the lobby, Mr. Tonyâthe company's CEOâand his assistant, a woman, greeted me.
This building had become even more modernâperfectly aligned with my father's taste.
Elegant, luxurious, cozy, vintage, and complete with sports facilities. Its exterior and interior screamed class.
It truly reflected the company with the highest stock valuation in the nation.
Well, I liked it too.
Of course, I did. After all, my father and I shared the same taste.
***
"How have you been, Mr. Wisnu?" Mr. Tony initiated the conversation as he led me to the executive elevatorâonly accessible to top company officialsâheading to the 57th floor.
"I'm doing well, Mr. Tony. And you?"
"After hearing the news, I feel like I've been struck by lightning." The man, who was almost as tall as me, chuckled.
"I was just as shocked when I read about it. My father called me immediately. Honestly, I have no clear leads yet."
I leaned against the corner of the ascending elevator.
"I've reviewed the company's stock reports for the past three years. There has never been volatility this severe."
He held a folder of documents and handed it to me.
I flipped through the pagesânot just examining the parent company's stock movements but also the financial profiles of its subsidiaries, profit margins, and solvency.
Everything looked fine. Nothing appeared particularly unusual.
Mr. Tony and his assistant waited for my response, creating a brief silence. The sound of an automatic air freshener broke the stillness, releasing a lavender scent.
Ding! The elevator doors opened.
This was the CEO floor.
And Mr. Tony was the CEO of CEOsâoverseeing all subsidiary leaders. He had the largest office on this floor.
Walking side by side with him, I noticed his assistant following closely behind.
"The company went public fifteen years ago, right?"
"Correct, sir."
"That means we also went through the global crisis eleven years ago. I need a stock report covering the past fifteen yearsâfrom when my father took over."
"Diana, please prepare that report. Contact Mr. Yohan, the Finance Director."
Diana?
"Yes, sir. I'll have it ready immediately."
A semi-formally dressed woman left quickly.
"By the way, Mr. Tony, where is our meeting room?"
"Allow me to show you, sir. It's this way."
He guided me past his personal office.
"I'll wait here, Mr. Tony."
"Alright, sir. I'll be off to reassure our investors."
I nodded, and he exited, closing the glass door behind him.
For the next half hour, while waiting for the report, I scrolled through Instagramâexploring speculations and news articles.
Hmm.
Most of them were just fabrications. Baseless narratives, crafted purely to satisfy the curiosity of netizens.
"Excuse me, sir."
Diana returned, carrying a massive stack of papers.
I helped open the door.
I estimated nearly a thousand pages.
"Place them on the table."
She also handed me an access card, a pen, and blank sheets of paper.
"Do you write poetry, Diana?"
She looked surprised. "Only in my free time. How do you know?"
I showed her a poem Sinta had sent me.
"Is this yours?"
She leaned in slightly. "Yes, sir. That's my poem."
"My sister sent it to me. Your poetry is deep and beautiful."
She blushed. "Thank you, sir."
I gestured for herto leave, then sat facing the skylineâready to dive into the mountain ofreports, searching for answers.