Indonesian Undervalued based on future growth

Bank Negara Indonesia (Persero)

Market Cap: Rp149.4t

Provides various banking products and services in Indonesia, rest of Asia, New York, and Europe.

Indofood Sukses Makmur

Market Cap: Rp74.4t

Operates as a food solutions company in Indonesia, the Middle East, Africa, rest of Asia, internationally.

Hanjaya Mandala Sampoerna

Market Cap: Rp63.4t

Engages in manufacture, distribution, and trading of cigarettes and other tobacco products in Indonesia.

Alamtri Resources Indonesia

Market Cap: Rp55.6t

Engages in the coal and mining business in Indonesia.

Indah Kiat Pulp & Paper

Market Cap: Rp39.9t

Engages in the manufacture of cultural paper, pulp, tissue, and industrial paper in Indonesia, Asia, the United States, Australia, the Middle East, Africa, and Europe.

Bank OCBC NISP

Market Cap: Rp30.9t

Provides various banking products and services to corporate and individual customers in Indonesia.

Medco Energi Internasional

Market Cap: Rp30.2t

Explores for and produces oil and gas in Indonesia, Asia, Africa, the Middle East, the United States of America, and Europe.

PT. Mitra Adiperkasa

Market Cap: Rp19.9t

Engages in the retail trade of clothing, accessories, bags, and sports equipment in Indonesia, Vietnam, the Philippines, Thailand, and internationally.

Japfa Comfeed Indonesia

Market Cap: Rp19.6t

Operates as an agri-food company in Indonesia.

Map Aktif Adiperkasa

Market Cap: Rp19.4t

Operates as a sporting goods retailer in Indonesia.

Bank Tabungan Negara (Persero)

Market Cap: Rp15.6t

Provides various banking products and services in Indonesia.

Dharma Satya Nusantara

Market Cap: Rp14.7t

Operates in the palm oil and wood product business in Indonesia.

Ultrajaya Milk Industry & Trading

Market Cap: Rp13.5t

Operates in the food and beverage industry in Indonesia.

BFI Finance Indonesia

Market Cap: Rp11.5t

Provides investment, working capital, multipurpose, sharia, and other financing services primarily in Indonesia.

Harum Energy

Market Cap: Rp10.9t

Through its subsidiaries, engages in the coal and nickel mining, logistics, and nickel processing and refining activities in Indonesia and internationally.

Bank BTPN Syariah

Market Cap: Rp10.9t

Provides various banking products and services in Indonesia.

Erajaya Swasembada

Market Cap: Rp7.1t

Engages in the distribution and retail of mobile telecommunication devices in Indonesia, Singapore, and Malaysia.

Puradelta Lestari

Market Cap: Rp6.7t

Engages in the development, management, operation, lease, and sale of residential, commercial, industrial real estate properties in Indonesia.

Solusi Sinergi Digital

Market Cap: Rp6.7t

Engages in the advertising businesses in Indonesia.

Blue Bird

Market Cap: Rp4.8t

Provides taxi transportation services in Indonesia.

Central Omega Resources

Market Cap: Rp3.6t

Engages in the mineral mining business in Indonesia.

PT. Media Nusantara Citra

Market Cap: Rp3.4t

Operates as an integrated media company that produces and distributes various content on television and other platforms in Indonesia.

Adi Sarana Armada

Market Cap: Rp3.1t

Provides corporate car rental and transportation solutions, logistics, driver services, automotive auction, car sharing, online vehicle trading, and parcel delivery services in Indonesia.

Hartadinata Abadi

Market Cap: Rp3.0t

Manufactures and sells gold jewelry in Indonesia.

Kencana Energi Lestari

Market Cap: Rp3.0t

Operates as a renewable energy company in Indonesia.

Mark Dynamics Indonesia

Market Cap: Rp2.5t

Manufactures and sells hand former products in Indonesia and internationally.

Sinar Eka Selaras

Market Cap: Rp1.9t

Engages in the trading and retail of electronic equipment and clothing of various brands in Indonesia.

Wintermar Offshore Marine

Market Cap: Rp1.6t

Provides supporting services for the offshore transportation for the oil and gas industry in Indonesia, Malaysia, Brunei, Myanmar, Thailand, India, Vietnam, the Philippines, the Middle East, and Taiwan.

Wismilak Inti Makmur

Market Cap: Rp1.6t

Manufactures and sells cigarettes in Indonesia and internationally.