Jakarta’s benchmark stock index closed higher Monday, bolstered by gains in key sectors and continued foreign investment. The Jakarta Composite (IHSG) rose 1.25% to 8,644.26 in the session, as investors reacted to strong performances from companies like AMMN and FILM, alongside important corporate activity including acquisition plans and share buyback programs. The market’s momentum signals ongoing confidence in Indonesia’s economic outlook as the year nears its close.
Jakarta, CNBC Indonesia — The Indonesian stock market’s benchmark index, the Jakarta Composite (IHSG), closed higher on Monday, December 29th, gaining 1.25% to reach 8,644.26.
The index’s gains were driven by strong performance from several key stocks, including AMMN, which jumped 7.26%, and FILM, which surged 9.83%. BRPT also contributed significantly to the market’s positive momentum, rising 4.79%. Conversely, DCII experienced a decline of 6.24%, while DSSA fell 2.79% and GOTO edged down 1.54%.
Foreign investors continued to demonstrate strong buying activity, recording a net purchase of Rp1.03 trillion in the regular market and Rp2.24 trillion across all markets. This influx of foreign capital signals continued confidence in the Indonesian economy.
Across sectors, positive sentiment prevailed, with 10 of 11 sectors closing in positive territory. The consumer cyclicals sector led the gains, increasing by 3.70%. The technology sector was the only laggard, declining by 1.17%.
Meanwhile, Petrindo Jaya Kreasi (CUAN) is preparing to acquire Singaraja Putra (SINI).
CUAN currently holds approximately 19.99% of SINI’s shares indirectly and aims to achieve a minimum ownership of 51% upon completion of the acquisition.
This acquisition is expected to increase CUAN’s coal mining concessions to 378 million tons, up from 216 million tons, incorporating SINI’s 162 million ton concession. Furthermore, CUAN’s potential coal reserves could expand by around 390 million tons, including contributions from IBP.
The deal has the potential to position CUAN as one of the largest coal mining companies in Indonesia.
In accordance with regulations, CUAN is obligated to launch a mandatory tender offer (MTO) following the completion of the acquisition, with a maximum execution period of 30 days from the announcement and a cash payment settlement deadline of 12 days after the offer period ends.
Separately, TBS Energi Utama (TOBA) announced a share buyback program valued at a maximum of Rp586.27 billion, equivalent to US$34.92 million.
The buyback encompasses up to 825.74 million shares, representing approximately 10% of the company’s issued capital, with an indicative buyback price of around Rp710 per share.
The buyback period is scheduled to run from December 24, 2025, to March 24, 2026, and will be funded from the company’s internal cash reserves.
As a result of this action, TOBA’s total assets are projected to decrease from US$805.69 million as of September 30, 2025, to approximately US$770.77 million.
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