The JBP Briefing — Team Edition — 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. 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: 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

GLOBAL M&A

Global M&A Hits Record $3.2 Trillion in H1 2026, Signaling Sustained Deal Appetite

Global M&A activity reached a record $3.2 trillion in the first half of 2026, a 44% increase year-over-year, according to J.P. Morgan. North America accounted for over 65% of the total, but the surge reflects broad-based confidence across sectors, with technology, healthcare, and energy leading the charge. This momentum is expected to continue into H2, driven by ample dry powder and easing financing conditions.

For Indonesian and Southeast Asian targets, this global wave creates a favorable exit environment. Foreign buyers, particularly from North America and Europe, are actively seeking growth assets in the region. JBP can leverage this trend to advise local companies on positioning for cross-border sales or strategic partnerships, ensuring they capture premium valuations in a competitive bid landscape.

MY PERSPECTIVE

JBP Advisory Angle: Record global M&A volumes signal a seller's market; Indonesian mid-market firms with strong fundamentals are prime targets for cross-border acquirers, making now an optimal time to initiate sell-side mandates.

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PRIVATE CREDIT EXPANSION

PRIVATE CREDIT

Danantara's $1B Private Credit Mandate to Partners Group Highlights Growing Institutional Appetite

Indonesia's state asset fund Danantara has deployed $1 billion in a private credit mandate to Partners Group, as reported by Bloomberg. This marks one of its largest investments in global private markets and underscores the growing role of private credit in institutional portfolios. The move aligns with the global private credit market's projected growth to $5.7 trillion by 2035, with a CAGR of 10.7%.

For Indonesian mid-market companies, this influx of private credit capital presents an alternative to traditional bank financing, particularly for growth capital or acquisition funding. JBP can assist clients in structuring private credit deals that offer flexible terms, potentially enabling faster execution compared to syndicated loans. This is especially relevant for sponsors looking to bridge financing gaps or refinance existing debt amid tightening bank lending standards.

MY PERSPECTIVE

JBP Advisory Angle: The expansion of private credit into Indonesia creates advisory opportunities for mid-market companies seeking non-dilutive capital; JBP can structure bespoke financing solutions that align with institutional investors' return expectations.

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HEALTHCARE M&A

HEALTHCARE M&A

VISI's Rp286B Acquisition of Hasna Medika Signals Consolidation in Indonesia's Healthcare Sector

PT Satu Visi Putra Tbk (VISI), backed by celebrities Raffi Ahmad and Nagita Slavina, announced a Rp286 billion acquisition of a 72.9% stake in PT Hasna Medika Bakti Cirebon (HMBC), a hospital network specializing in cardiac care. The deal involves a mix of new shares and existing share purchases, positioning VISI as a controlling entity across two heart hospitals and 11 clinics. Despite HMBC's recent losses, the strategic rationale appears focused on expanding healthcare services in underserved regions.

This transaction highlights a growing trend of consolidation in Indonesia's fragmented healthcare market, driven by increasing demand for specialized services and the entry of well-capitalized players. For JBP, this signals opportunities to advise both buyers and sellers in the healthcare space, from due diligence to valuation and regulatory approvals. The involvement of high-profile investors also suggests a trend of celebrity-backed SPACs or holding companies entering healthcare.

MY PERSPECTIVE

JBP Advisory Angle: Healthcare consolidation is accelerating; JBP can capture mandates by identifying family-owned clinics and hospitals seeking exit or partnership opportunities, leveraging its network to match them with strategic or financial buyers.

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DATA CENTER & DIGITAL INFRASTRUCTURE

DIGITAL INFRASTRUCTURE

Indonesia's 86,000-km Fiber Grid Launch Creates Digital Infrastructure Investment Opportunities

Indonesia has launched an 86,000-km open-access fiber grid, with Indosat Ooredoo Hutchison (IOH) carving out its fiber infrastructure into a new entity, IFT, and selling an 84.9% stake to PT Nusantara Fiber Teknologi (NFT), backed by Arsari Group. This strategic move aims to expand connectivity nationwide, with potential contributions to the economy and job creation. The government's push for digital inclusion is attracting both domestic and foreign investors.

This development aligns with the broader Southeast Asia data center market, projected to attract $86.57 billion in cumulative investment by 2031. For JBP, the fiber grid creates opportunities in related sectors such as data centers, cloud services, and last-mile connectivity. Advisory mandates could include facilitating joint ventures, project finance structuring, or M&A of complementary assets like tower companies or data center operators.

MY PERSPECTIVE

JBP Advisory Angle: The fiber grid expansion opens advisory mandates for infrastructure funds and telcos seeking to acquire or partner on digital assets; JBP can position itself as a key intermediary in structuring these complex, high-value transactions.

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RIGHTS ISSUE & CAPITAL RAISING

CAPITAL RAISING

DMS Propertindo's Rp4.4T Rights Issue Points to Active Capital Raising in Indonesian Property Sector

PT DMS Propertindo Tbk (KOTA) announced plans for a jumbo rights issue targeting over Rp4.4 trillion, one of the largest in the property sector this year. The move aims to strengthen the company's balance sheet and fund expansion. This follows a trend of property firms turning to equity markets to deleverage and capitalize on recovery in demand.

For JBP, this signals a busy period for capital raising advisory, particularly for property and real estate companies. The rights issue also creates opportunities for underwriting, placement, and financial advisory services. Given the JCI at 6,522 and a relatively stable rupiah, market conditions appear supportive for equity issuances.

MY PERSPECTIVE

JBP Advisory Angle: The surge in rights issues offers JBP a pipeline for capital-raising mandates; advising companies on optimal pricing, timing, and investor communication will be critical to successful execution.

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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