Shares of PT Capital Financial Indonesia (CASA) Tbk, parent of Bank Capital (BACA), ended lower by 1% to Rp910 on Tuesday (Jun 24), making it one of the most expensive stocks in the market. CASA, which is also holding company for life insurance and asset management subsidiaries, was traded with PE multiple 900. 

Bauxite-alumina producer Cita Mineral (CITA), co-owned by Harita Group and Glencore Plc, is among the best performing stocks in the past 12 months, gaining almost 100%. At the last quoted price, however, CITA is still considered undervalued.

IDX will have one more issuer in the healthcare sector following initial public offering (IPO) of Diastika Biotekindo, distributor of medical equipment. Diastika seeks up to Rp114.1 billion from the IPO, which will be used for working capital.

Shares of Sumber Alfaria Trijaya (AMRT), operator of convenience store network Alfamart, ended lower by 2.2% to Rp2,230 on Monday (Jun 23) due to broad market sentiment from Iran-Israel conflict. Alfamart, however, remains one of the most ‘valuable’ stocks in the market with market capitalisation of Rp92.6 trillion.

There are seven companies launching initial public offering (IPO) with book building period in the period of June 23-25. These are mini IPOs because their combined proceeds will be less than Rp1 trillion and market capitalisation less than Rp10 trillion.

Shares of Garuda Indonesia (GIAA) ended slightly higher by 1.5% to Rp67 last Friday (June 20) to make a market capitalisation of Rp6.13 trillion. Next week, shareholders will make a decision to the proposed restructuring to improve its financial health and overall performance.

In the era of digitalized public and business services, AI chatbots have become the first point of contact for many Indonesians. Whether it’s checking internet data through Telkomsel’s Veronika, tracking bank balances via BRI’s Sabrina, or reporting power outages to PLN’s Si Vina — chatbots have helped cut queues at service counters and reduce waiting times at call centers.

Sovereign wealth fund Danantara has accommodated more politicians in the board of commissioners and directors of state companies. Politicians from political parties within the ruling coalition of Prabowo have also been granted key positions in subsidiaries of state companies. 

Saudi Arabia has cancelled its plan to cut 50% off of Indonesia’s hajj quota for 2026. Deputy Head of Hajj Organizing Agency (BPH), Dahnil Simanjuntak, said Saudi Arabia is looking forward to working with BPH, the newly established agency that will replace the Ministry of Religious Affairs in hajj organization starting from next year. The House of Representatives, meanwhile, is set to work on the revision of Hajj Law targeted for completion in August or September.

Indonesia is increasingly recognized as a hotbed for world-class digital infrastructure investment. One of the clearest signals comes from EDGNEX — the data center arm of Dubai-based DAMAC Group — which has committed a massive IDR 37 trillion to build a hyperscale data center campus in Cikarang, West Java.