Indonesian Undervalued over 20% based on DCF

Jakarta Setiabudi Internasional

Market Cap: Rp3.2t

Engages in the hospitality and property businesses in Indonesia.

Kencana Energi Lestari

Market Cap: Rp3.1t

Operates as a renewable energy company in Indonesia.

Argo Pantes

Market Cap: Rp3.0t

Provides integrated logistics solutions and textile products in Indonesia.

Mulia Boga Raya

Market Cap: Rp2.9t

Manufactures and sells cheese and mayonnaise under the Prochiz and TopChiz brand names in Indonesia.

Surya Toto Indonesia

Market Cap: Rp2.8t

Manufactures and sells sanitary, fittings, kitchen systems, and other related products in Indonesia and internationally.

Nusantara Pelabuhan Handal

Market Cap: Rp2.5t

Manages and operates container terminals in Indonesia and internationally.

Ramayana Lestari Sentosa

Market Cap: Rp2.5t

Operates a chain of department stores in Indonesia.

Graha Layar Prima

Market Cap: Rp2.4t

Through its subsidiary, operates in the cinema industry in Indonesia.

Garuda Metalindo

Market Cap: Rp2.2t

Manufactures and sells precision fasteners and engineered components primarily for the automotive industry in Indonesia, rest of Asia, Europe, and the Americas.

Semen Baturaja (Persero)

Market Cap: Rp2.2t

Produces and distributes cement in Indonesia.

Indonesia Fibreboard Industry

Market Cap: Rp2.1t

Engages in the wood processing industry in Indonesia, Japan, the Middle East, and internationally.

Trans Power Marine

Market Cap: Rp2.1t

Provides bulk cargo transportation and transshipment services primarily in Indonesia and Southeast Asia.

Dana Brata Luhur

Market Cap: Rp1.7t

Provides coal logistic services in Indonesia.

Bakrieland Development

Market Cap: Rp1.7t

Operates as an integrated property company in Indonesia.

Jaya Konstruksi Manggala Pratama

Market Cap: Rp1.2t

Engages in the construction business in Indonesia.

Wahana Ottomitra Multiartha

Market Cap: Rp1.0t

Engages in consumer financing activities in Indonesia.

Gihon Telekomunikasi Indonesia

Market Cap: Rp987.3b

Provides telecommunications tower leasing services in Indonesia.

PP Presisi

Market Cap: Rp971.2b

Operates as an integrated heavy equipment-based construction company in Indonesia.

Shield On Service

Market Cap: Rp767.4b

Provides outsourcing services in Indonesia.

PT. Multi Makmur Lemindo

Market Cap: Rp411.1b

Engages in the production and sale of polymer vinyl chloride (PVC)-based plastic in Indonesia.

Asuransi Ramayana

Market Cap: Rp373.2b

Operates as a general insurance company in Indonesia.

Intikeramik Alamasri Industri

Market Cap: Rp306.0b

Manufactures, distributes, and sells porcelain tiles and granites under the Essenza brand in Indonesia.

Argha Karya Prima Industry

Market Cap: Rp303.7b

Engages in the production and distribution of flexible packaging films in Indonesia, Africa, the Americas, the Middle East, Europe, Australia, New Zealand, and rest of Asia.

Mega Perintis

Market Cap: Rp299.3b

Engages in the manufacturing and retailing of men’s apparel in Indonesia.

Betonjaya Manunggal

Market Cap: Rp269.3b

Engages in the manufacturing of round bar in Indonesia.

Samcro Hyosung Adilestari

Market Cap: Rp260.2b

Manufactures and sells hook and loop fastener tapes in Indonesia and internationally.

Graha Mitra Asia

Market Cap: Rp223.4b

Provides real estate and property development services in Indonesia.

Yelooo Integra Datanet

Market Cap: Rp202.8b

Engages in leasing communication technology equipment in Indonesia.

OBM Drilchem

Market Cap: Rp198.3b

Operates as a manufacturer and provider of specialty drilling fluid additives to the drilling industry in Indonesia and internationally.

Wijaya Cahaya Timber

Market Cap: Rp194.3b

Manufactures and sells plywood products for industrial and residential needs in Indonesia.

Mustika Ratu

Market Cap: Rp178.9b

Engages in the manufacture, trade, and distribution of herbal and traditional cosmetics in Indonesia.

Meta Epsi

Market Cap: Rp168.9b

Provides engineering, procurement, and construction services in Indonesia.

Langgeng Makmur Industri

Market Cap: Rp149.3b

Manufactures and sells aluminum kitchenware, plastic houseware, pipes, fittings, and profiles in Asia, the Middle East, and internationally.

Mitra Pedagang Indonesia

Market Cap: Rp125.0b

A technology company, provides digital products, FMCG, and digital financial services in Indonesia.

Martina Berto

Market Cap: Rp111.3b

Manufactures, markets, sells, and trades cosmetics and traditional medicines in Indonesia.