Indonesian Potentially Undervalued Small Caps

Dosni Roha Indonesia

Market Cap: Rp125.5b

Through its subsidiaries, engages in trading, export-import, logistic, and information technology (IT) businesses in Indonesia.

Formosa Ingredient Factory

Market Cap: Rp194.2b

Produces and sells beverage ingredients in Indonesia and internationally.

Ace Oldfields

Market Cap: Rp164.2b

Manufactures and sells painting equipment and supplies in Indonesia and internationally.

Betonjaya Manunggal

Market Cap: Rp280.8b

Engages in the manufacturing of round bar in Indonesia.

Indo Straits

Market Cap: Rp171.7b

Together with its subsidiary, provides integrated marine engineering and logistics support services primarily in Indonesia.

Global Sukses Digital

Market Cap: Rp284.6b

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

Ateliers Mecaniques D'Indonesie

Market Cap: Rp252.7b

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.

Ancora Indonesia Resources

Market Cap: Rp289.6b

Operates in the explosives industry in Indonesia.

Kian Santang Muliatama

Market Cap: Rp135.7b

Engages in the supply of spare parts to engineering, procurement, and construction industry.

HATTEN BALI

Market Cap: Rp495.9b

Produces and sells wine in Indonesia.

Kobexindo Tractors

Market Cap: Rp363.6b

Distributes and services heavy equipment in Indonesia.

Suparma

Market Cap: Rp910.3b

Manufactures and sells paper and related paper products in Indonesia.

Perma Plasindo

Market Cap: Rp277.6b

Through its subsidiaries, manufactures, imports, distributes, and export trades office 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.

Steady Safe

Market Cap: Rp313.7b

Provides bus transportation services in Indonesia.

Ekadharma International

Market Cap: Rp628.9b

Engages in manufacturing and sale of self adhesive tapes and related supplementary materials in Indonesia and Malaysia.

Charnic Capital

Market Cap: Rp882.3b

An investment holding company, engages in the property investment business 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.

Indo Acidatama

Market Cap: Rp391.3b

Operates as an agro-chemical company in Indonesia.

OBM Drilchem

Market Cap: Rp193.4b

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

Trisula International

Market Cap: Rp562.4b

Designs and manufactures garments in Indonesia.

Distribusi Voucher Nusantara

Market Cap: Rp238.0b

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

Sigma Energy Compressindo

Market Cap: Rp119.2b

A service company, provides equipment rental services for the monetization of oil and gas industry.

Buyung Poetra Sembada

Market Cap: Rp667.8b

Engages in the manufacture and trading of rice and its derivative products in Indonesia.

Shield On Service

Market Cap: Rp695.5b

Provides outsourcing services in Indonesia.

Pudjiadi and Sons

Market Cap: Rp534.5b

Operates in hotel business in Indonesia.

Dharma Samudera Fishing Industries

Market Cap: Rp191.3b

Engages in the collecting, buying, processing, marketing, and trading of fishing products in Indonesia, the United States, Europe, Australia, Indonesia, and internationally.

Indal Aluminium Industry

Market Cap: Rp123.6b

Engages in the manufacture and distribution of aluminum products in Indonesia.

Era Mandiri Cemerlang

Market Cap: Rp89.2b

Produces and supplies seafood products in Indonesia.

Adiwarna Anugerah Abadi

Market Cap: Rp339.4b

Designs, supplies, and installs fire protection systems in Indonesia.

Island Concepts Indonesia

Market Cap: Rp122.1b

Engages in the provision of hospitality services in Indonesia.

Jaya Trishindo

Market Cap: Rp166.6b

Provides helicopter charter services in Indonesia.

PT. Polychem Indonesia

Market Cap: Rp793.4b

Produces and sells various chemical products and artificial resin in Indonesia, Asia, and Europe.

Berlian Laju Tanker

Market Cap: Rp1.1t

Provides shipping services for liquid cargo transportation in Malaysia and Indonesia.

Rig Tenders Indonesia

Market Cap: Rp414.2b

Provides marine logistics services for the oil and coal industry in Indonesia.

Logindo Samudramakmur

Market Cap: Rp852.5b

Provides integrated maritime services to support upstream oil and gas industries in Indonesia.