The JBP Briefing — Saturday, August 29, 2026 (Issue #86)

THE JBP BRIEFING

Intelligence · Advisory · M&A · Capital Markets · Jakarta

Saturday, August 29, 2026 · Vol. 1, Issue #86

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Good morning. Here is my take on what matters most for your business and portfolio today. I write this every morning so you do not have to read everything.

— Akmal Adrianza, Founder, JBP Management Consulting

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MARKET SNAPSHOT

JCI: 6,522

BI Rate: N/A

USD/IDR: Rp17,685

S&P 500: 7,711.76

WTI Crude: USD 83.37/bbl

Gold: USD 4,506/oz

Bitcoin: USD 77,379

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SEA MARKET SNAPSHOT

📈 Market Snapshot

Equity Indices

IndexMarketLevelChange

IDX Composite

Indonesia

6,522

+1.81%

STI

Singapore

5,684

-0.65%

KLCI

Malaysia

1,742

-0.39%

Hang Seng

Hong Kong

25,566

-0.34%

Nikkei 225

Japan

66,132

-0.20%

S&P 500

US

7,712

-0.25%

FX Rates

PairRateChange

USD/IDR

17,685

-0.52%

USD/SGD

1.2737

+0.18%

USD/MYR

4.0220

-0.05%

USD/THB

33.12

+1.03%

USD/PHP

62.23

+1.09%

EUR/USD

1.1586

-0.59%

USD/JPY

160

+0.52%

USD/CNY

6.72

-0.03%

Commodities

CommodityPriceChange

Crude Oil (WTI)

83.37 USD/bbl

-0.19%

Brent Crude

88.20 USD/bbl

-1.67%

Gold

4,506 USD/oz

-2.25%

Data as of 29 Aug 2026, 03:55 WIB · Source: Yahoo Finance

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GLOBAL MACRO

Global Macro Snapshot

Live Market Indicators

DXY: 99.70

US 10Y: 4.72%

S&P 500: 7,711.76

Gold: 4,506.70$/oz

WTI: 83.37$/bbl

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GLOBAL M&A MOMENTUM AND PRIVATE CREDIT SIGNALS

GLOBAL M&A

Global M&A Hits Record $3.2 Trillion in First Half of 2026

Global M&A activity reached a record $3.2 trillion in the first half of 2026, a 44% increase over the same period last year, according to J.P. Morgan. North America accounted for over 65% of the total, highlighting a robust dealmaking environment despite geopolitical tensions.

For Indonesian business owners, this signals strong appetite from global acquirers and investors. With the JCI at 6,522 and the rupiah at Rp17,685 per US dollar, cross-border transactions are becoming more attractive for foreign buyers looking for value in Southeast Asia.

MY PERSPECTIVE

JBP Advisory Angle: This global M&A surge suggests a favorable window for Indonesian companies seeking strategic partnerships or exits, with cross-border advisory opportunities likely to increase.

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PRIVATE CREDIT

Danantara Deploys $1 Billion Private Credit to Partners Group

Indonesia's state asset fund Danantara has allocated a US$1 billion private credit mandate to Swiss firm Partners Group, marking one of its largest investments in global private markets. This move aligns with the growing global private credit market, projected to reach $5.7 trillion by 2035.

Private credit is becoming an increasingly important financing tool for companies, especially those seeking alternatives to traditional bank loans. With global private credit valued at $2.1 trillion in 2025, this trend offers new opportunities for Indonesian businesses to access capital.

MY PERSPECTIVE

JBP Advisory Angle: The Danantara mandate creates a cross-border advisory opening for firms with bilateral infrastructure networks in the GCC, potentially facilitating private credit deals for Indonesian mid-market companies.

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INDONESIA M&A AND CAPITAL RAISING ACTIVITY

INDONESIA M&A

VISI to Acquire Hasna Medika for Rp286 Billion

PT Satu Visi Putra Tbk (VISI) is set to acquire a 72.9% stake in PT Hasna Medika Bakti Cirebon (HMBC) for Rp286 billion, expanding its network of heart hospitals and clinics. The deal involves a mix of new shares and existing share purchases, with a private placement of up to 307.5 million shares planned.

This acquisition reflects ongoing consolidation in Indonesia's healthcare sector, driven by increasing demand for specialized medical services. With the JCI at 6,522, healthcare remains a resilient and attractive sector for investors.

MY PERSPECTIVE

JBP Advisory Angle: This transaction highlights the active healthcare M&A landscape, presenting advisory opportunities for firms looking to consolidate or expand in Indonesia's growing medical services market.

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CAPITAL RAISING

DMS Propertindo Plans Rp4.4 Trillion Rights Issue

PT DMS Propertindo Tbk (KOTA) has announced a rights issue targeting more than Rp4.4 trillion, one of the largest in recent months. The proceeds are expected to fund expansion and reduce debt, reflecting a broader trend of Indonesian companies leveraging equity markets to strengthen balance sheets.

With the rupiah at Rp17,685 per US dollar, companies are seeking local currency funding to mitigate forex risk. This rights issue could attract both domestic and international investors looking for exposure to Indonesia's property sector.

MY PERSPECTIVE

JBP Advisory Angle: Large rights issues like this create opportunities for financial advisers to assist with structuring, pricing, and investor outreach, particularly for companies seeking to optimize their capital structure.

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DIGITAL INFRASTRUCTURE AND STRATEGIC INVESTMENTS

DIGITAL INFRASTRUCTURE

Indonesia Launches 86,000-km Open-Access Fiber Grid

Indonesia has launched an 86,000-km open-access fiber grid, with Indosat Ooredoo Hutchison carving out its fiber infrastructure into a standalone entity. The vehicle, backed by Arsari Group, aims to expand digital connectivity across the archipelago, a move expected to boost the country's digital economy.

This infrastructure development is part of a broader trend in Southeast Asia, where data center investment is projected to reach $86.57 billion by 2031. With gold at USD 4,506/oz and oil at USD 83.37/bbl, investors are diversifying into digital assets and infrastructure.

MY PERSPECTIVE

JBP Advisory Angle: The fiber grid rollout opens advisory opportunities in infrastructure financing, public-private partnerships, and M&A for telecom and technology companies seeking to capitalize on Indonesia's digital transformation.

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FINTECH INVESTMENT

SBI Holdings to Invest $270 Million in Indonesian Broker Ajaib

Japan's SBI Holdings is set to spend $270 million to acquire a stake in Indonesian digital broker Ajaib, as part of its crypto push in Southeast Asia. This investment underscores the growing interest in Indonesia's fintech sector, particularly in digital trading and cryptocurrency services.

With Bitcoin at USD 77,379 and the S&P 500 at 7,711.76, global investors are increasingly looking at emerging markets for growth. This deal could pave the way for more foreign investments in Indonesia's digital financial services.

MY PERSPECTIVE

JBP Advisory Angle: This cross-border investment highlights the appeal of Indonesian fintech platforms, creating advisory opportunities for firms facilitating foreign direct investment and strategic partnerships in the sector.

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That is all for today. If any of these stories opens a door for your business, I am happy to talk through the implications.

Warm regards,

Akmal Adrianza

Founder, JBP Management Consulting & Financial Advisory

The JBP Briefing · Issue #86 · Saturday, August 29, 2026 · JBP Management Consulting & Financial Advisory · Jakarta, Indonesia