Digital bank Jago (ARTO) booked net profit of Rp199 billion in the first nine months of 2025, skyrocketed 131% from the corresponding period last year, significantly better than most conventional banks, on more aggressive lending growth. Sustainability?

Shares of Catur Sentosa Adiprana (CSAP), one of the largest distributors of building materials, ended higher by 2.5% to Rp332 on Wednesday (Oct 29) as investors responded positively the company’s improved bottom line in third quarter.

Matahari Department Stores (LPPF), one of the largest retailers in the country, cut 7.7% of its workforce in the first nine months of the year even when it closed down only one outlet in the period. 

Shares of Indosat (ISAT), second largest telco player behind Telkom, declined 1.3% this afternoon as investors responded the company’s financial results for the first nine months of the year. The company reported 7.5% decline in net profit despite improvements in third quarter.

President Prabowo Subianto’s administration is preparing to issue a long-awaited Presidential Regulation (Perpres) on online transportation by the end of 2025 — a policy that will redefine Indonesia’s gig-economy landscape.
The regulation is expected to govern tariffs, order distribution, and — most controversially — the employment status of millions of ride-hailing drivers.

Substantial drop in sales revenues, both domestic and export market, and profitability forced one manufacturer in West Java province to dismiss 221 workers or 14.7% of its total workforce in the first nine months of the year.

Shares of TBS Energi Utama (TOBA), a coal miner expanding into waste management and renewable energy linked to the family of Pandu Sjahrir (chief investment officer/CIO of sovereign wealth fund Danantara), ended higher by 2.56% to Rp1,000 on Tuesday (Oct 28) despite poor financials in the first nine months of the year.

AirAsia Indonesia (CMPP) booked net loss of Rp985 billion in the first nine months of 2025, expanded by 64% from the corresponding period last year due to small growth in revenues and squeezed margins.

Some major companies listed on the Indonesia Stock Exchange (IDX) cut workforce significantly in the first nine months of 2025 to cope with economic slowdown. AirAsia Indonesia, a budget airline co-owned by oil ‘godfather’ Riza Chalid, scored the biggest downsizing so far.

Natural rubber processor Kirana Megatara (KMTR) dropped as much as 7.5% this afternoon as investors responded negatively the company’s financial performance in third quarter ended September 30, 2025.