The JBP Briefing — Team Edition — Monday, August 31, 2026 (Issue #89)

THE JBP BRIEFING

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

Monday, August 31, 2026 · Vol. 1, Issue #89

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Good morning. I have pulled the five stories most likely to come up in client conversations this week. Use them — they are pitch-ready.

— Akmal Adrianza, Founder, JBP Management Consulting

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MARKET SNAPSHOT

JCI: 6,522

BI Rate: value or N/A

USD/IDR: Rp17,749

S&P 500: nan

WTI Crude: USD 85.39/bbl

Gold: USD 4,497/oz

Bitcoin: USD 77,715

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SEA MARKET SNAPSHOT

📈 Market Snapshot

Equity Indices

IndexMarketLevelChange

IDX Composite

Indonesia

6,522

+1.81%

STI

Singapore

5,719

+0.62%

KLCI

Malaysia

1,742

-0.39%

Hang Seng

Hong Kong

25,373

-0.75%

Nikkei 225

Japan

65,255

-1.33%

S&P 500

US

nan

nan%

FX Rates

PairRateChange

USD/IDR

17,749

-0.16%

USD/SGD

1.2735

+0.21%

USD/MYR

4.0303

+0.16%

USD/THB

33.13

+0.82%

USD/PHP

62.22

+0.57%

EUR/USD

1.1597

-0.51%

USD/JPY

160

+0.31%

USD/CNY

6.72

+0.03%

Commodities

CommodityPriceChange

Crude Oil (WTI)

85.39 USD/bbl

+2.39%

Brent Crude

90.40 USD/bbl

+1.22%

Gold

4,497 USD/oz

+0.42%

Data as of 31 Aug 2026, 08:49 WIB · Source: Yahoo Finance

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GLOBAL MACRO

Global Macro Snapshot

Live Market Indicators

DXY: 99.60

US 10Y: 4.67%

S&P 500: nan

Gold: 4,496.80$/oz

WTI: 85.35$/bbl

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GLOBAL M&A MOMENTUM

GLOBAL M&A

Global M&A Hits Record $3.2 Trillion in H1 2026

Global M&A deals reached a record $3.2 trillion in the first half of 2026, a 44% increase year-over-year, with North America accounting for over 65% of the total, according to J.P. Morgan. This surge reflects a pivot from shareholder returns to reinvestment, with boards increasingly using M&A as a path to growth. For Indonesian and SEA corporates, this signals a window to attract global capital and strategic buyers seeking expansion in high-growth markets.

For JBP, this environment supports cross-border sell-side mandates, particularly for Indonesian mid-market firms in sectors like technology, healthcare, and renewable energy. The JCI at 6,522 and USD/IDR at Rp17,749 indicate a stable local market, but global dealmaking activity suggests that Indonesian assets are attractively priced for foreign acquirers. We recommend our team proactively approach family-owned businesses and conglomerates with succession or consolidation needs.

MY PERSPECTIVE

JBP Advisory Angle: The record global M&A activity creates a favorable backdrop for cross-border sell-side mandates, especially for Indonesian mid-market companies seeking liquidity or strategic partnerships.

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HEALTHCARE & CONSUMER M&A

HEALTHCARE M&A

VISI Acquires Hasna Medika for Rp286 Billion

PT Satu Visi Putra Tbk (VISI) announced the acquisition of PT Hasna Medika Bakti Cirebon (HMBC) for Rp286 billion, securing a 72.91% stake. The target operates two heart hospitals and 11 clinics across Java and Bali, marking VISI's expansion into specialized healthcare services. This deal involves notable figures like Raffi Ahmad and Pieter Tanuri, highlighting the growing trend of celebrity-backed investments in healthcare.

For JBP, this transaction underscores the attractiveness of Indonesia's healthcare sector, particularly specialized services like cardiology. With an aging population and rising middle-class health awareness, there is potential for further consolidation. We see opportunities for buy-side mandates for strategic investors looking to acquire regional hospital chains or clinics, and sell-side mandates for founders seeking to exit or partner with larger groups.

MY PERSPECTIVE

JBP Advisory Angle: The VISI-Hasna Medika deal signals a robust appetite for specialized healthcare assets; JBP can leverage this to advise similar mid-sized healthcare providers on strategic sales or partnerships.

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INFRASTRUCTURE & DIGITAL ASSETS

DIGITAL INFRASTRUCTURE

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

Indonesia has launched an 86,000-km open-access fiber grid, built from Indosat Ooredoo Hutchison's fiber infrastructure carve-out. The platform, now under RAIA Grid, is half-owned by Indosat and was assembled via a corporate transaction in July. This initiative aims to expand digital connectivity across the archipelago, with significant investment from both local and international players.

From an advisory perspective, this creates opportunities in M&A for fiber network operators, data center providers, and related digital infrastructure. The Salim Group's acquisition of Keppel's stake in a data center venture, relaunched as IndoData, further underscores the sector's dynamism. JBP can advise on consolidation plays, joint ventures, and infrastructure fund raisings, leveraging the government's push for digital inclusion and the growing demand for data services.

MY PERSPECTIVE

JBP Advisory Angle: The fiber grid rollout and data center investments present M&A and fundraising opportunities for digital infrastructure assets, with JBP positioned to advise on consolidation and strategic partnerships.

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PRIVATE CREDIT & DISTRESSED DEBT

PRIVATE CREDIT

Danantara Invests $1 Billion in Private Credit with Partners Group

Indonesia's $1 trillion sovereign wealth fund, Danantara, is investing $1 billion in private credit with Switzerland's Partners Group, allocating $600 million to direct lending and $400 million to discretionary and co-investment. This marks a significant move into private credit by a major Asian sovereign fund, reflecting the asset class's growth. The global private credit market is projected to reach $5.7 trillion by 2035, according to a recent report.

For JBP, this signals growing institutional appetite for private credit in Indonesia, particularly for mid-market companies seeking non-dilutive financing. With PIMCO highlighting hidden default risks in the sector, there is also potential for distressed debt advisory. We see opportunities for JBP to advise lenders and borrowers on restructuring, direct lending deals, and co-investment structures, especially for companies with strong fundamentals facing temporary liquidity issues.

MY PERSPECTIVE

JBP Advisory Angle: Danantara's private credit investment with Partners Group opens advisory opportunities for JBP in direct lending and distressed debt restructuring for Indonesian mid-market companies.

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CAPITAL RAISING & IPO

CAPITAL RAISING

DMS Propertindo Plans Rp4.4 Trillion Rights Issue

PT DMS Propertindo Tbk (KOTA) announced plans for a rights issue targeting over Rp4.4 trillion, one of the largest in recent years. This follows a trend of Indonesian listed companies raising capital to fund expansion and deleveraging. The rights issue is expected to attract both existing shareholders and new investors, given the property sector's recovery prospects.

For JBP, this represents a significant capital raising mandate. We can advise on the structuring, pricing, and placement of the rights issue, as well as identify potential anchor investors. The success of such offerings depends on market conditions, with the JCI at 6,522 and supportive liquidity. We also see opportunities for pre-IPO advisory for private companies looking to tap public markets, given the active IPO pipeline seen with companies like SWAP.

MY PERSPECTIVE

JBP Advisory Angle: The large rights issue by DMS Propertindo highlights active capital raising in Indonesia; JBP can advise on similar equity offerings and pre-IPO preparations for private firms.

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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 #89 · Monday, August 31, 2026 · JBP Management Consulting & Financial Advisory · Jakarta, Indonesia