Indonesian Potentially Undervalued Companies

Bank Mandiri (Persero)

Market Cap: Rp400.4t

Provides various banking products and services to individuals and businesses in Indonesia, Singapore, Hong Kong, Timor Leste, Shanghai, Malaysia, England, and the Cayman Islands.

Mandiri Herindo Adiperkasa

Market Cap: Rp2.3t

Provides mineral and coal transportation services in Indonesia.

Cahaya Aero Services

Market Cap: Rp5.1t

Provides ground and cargo handling, aircraft release and maintenance, catering, facility management, and aviation training services in Indonesia.

Suparma

Market Cap: Rp1.1t

Manufactures and sells paper and related paper products in Indonesia.

Citra Tubindo

Market Cap: Rp4.0t

Provides pipes and accessories, and related services to the oil and gas industries in Indonesia.

Ancora Indonesia Resources

Market Cap: Rp405.9b

Operates in the explosives industry in Indonesia.

Darya-Varia Laboratoria

Market Cap: Rp1.8t

Manufactures and trades pharmaceutical products and cosmetics in Indonesia.

Kalbe Farma

Market Cap: Rp48.1t

Develops, manufactures, and trades in pharmaceutical products in Indonesia.

Arwana Citramulia

Market Cap: Rp3.7t

Manufactures and distributes ceramic tiles in Indonesia.

Cisadane Sawit Raya

Market Cap: Rp1.7t

Engages in the oil palm plantation business in Indonesia and internationally.

Kobexindo Tractors

Market Cap: Rp356.8b

Distributes and services heavy equipment in Indonesia.

Formosa Ingredient Factory

Market Cap: Rp212.7b

Produces and sells tapioca pearl, syrup, sauces, powder, and jellies in Indonesia and internationally.

Siloam International Hospitals

Market Cap: Rp25.2t

Operates hospitals and clinics in Indonesia.

Elnusa

Market Cap: Rp3.6t

Provides oil and gas services in Indonesia.

Ateliers Mecaniques D'Indonesie

Market Cap: Rp257.0b

Designs, manufactures, and erects boilers in Indonesia, Cameroon, the Republic of Cote D'Ivoire, Papua New Guinea, Nigeria, Liberia, Malaysia, and Sao Tome and Principe.

Global Sukses Digital

Market Cap: Rp263.9b

Engages in the retail trade of photographic and related equipment in Indonesia.

PINAGO UTAMA

Market Cap: Rp2.9t

Engages in the oil palm and rubber plantation business in Indonesia.

Dafam Property Indonesia

Market Cap: Rp161.5b

Engages in the property development activities in Indonesia.

Resource Alam Indonesia

Market Cap: Rp1.6t

Engages in the coal mining business in Indonesia.

AirAsia Indonesia

Market Cap: Rp1.0t

Provides scheduled commercial air transport services in Indonesia.

Lima Dua Lima Tiga

Market Cap: Rp204.5b

Engages in the food and beverage business in Indonesia.

Omni Inovasi Indonesia

Market Cap: Rp65.8b

Engages in the trading of telecommunication equipment in Indonesia.

Alumindo Light Metal Industry

Market Cap: Rp282.4b

Manufactures and sells flat rolled aluminum products in Indonesia, the United States, Asia, Europe, Australia, and the Middle East.

Kirana Megatara

Market Cap: Rp2.4t

Produces and sells crumb rubber in Indonesia.

Sekar Laut

Market Cap: Rp1.3t

Engages in the production and sale of crackers, tomato ketchup, chili sauce, and ready to use seasoning products under the Finna brand in Indonesia.

PThimas Flat Glass

Market Cap: Rp1.5t

Manufactures and sells flat and safety glass products in Indonesia.

Indah Prakasa Sentosa

Market Cap: Rp105.3b

Provides integrated logistics, transportation, distribution, and retail services for fuel, lubricant, chemical, gasses, and FMCG in Indonesia.

Jakarta Setiabudi Internasional

Market Cap: Rp7.8t

Engages in the hospitality and property businesses in Indonesia.

Distribusi Voucher Nusantara

Market Cap: Rp218.4b

Provides digital products, payment solution services, and online-to-offline (O2O) platforms in Indonesia.

Steady Safe

Market Cap: Rp115.0b

Provides bus transportation services in Indonesia.

Phapros

Market Cap: Rp277.2b

Operates in the pharmaceutical industry in Indonesia.

Tunas Baru Lampung

Market Cap: Rp4.3t

Primarily manufactures and sells vegetable cooking oils in Indonesia.

Teladan Prima Agro

Market Cap: Rp9.1t

Engages in managing palm oil plantations, mills, and renewable energy businesses in Indonesia.

Samindo Resources

Market Cap: Rp3.6t

Through its subsidiaries, operates as an integrated coal mining services company in Indonesia.

Trisula International

Market Cap: Rp559.8b

Designs and manufactures garments in Indonesia.

Gema Grahasarana

Market Cap: Rp179.2b

Operates as an interior contractor and furniture manufacturer and distributor in Indonesia and internationally.