The JBP Briefing — Team Edition — Sunday, August 30, 2026 (Issue #88)

THE JBP BRIEFING

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

Sunday, August 30, 2026 · Vol. 1, Issue #88

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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: Rp17,685

S&P 500: nan

WTI Crude: USD 83.40/bbl

Gold: USD 4,530/oz

Bitcoin: USD 78,623

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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

nan

nan%

FX Rates

PairRateChange

USD/IDR

17,685

-0.36%

USD/SGD

1.2745

+0.29%

USD/MYR

4.0240

-0.16%

USD/THB

33.13

+1.06%

USD/PHP

62.25

+0.61%

EUR/USD

1.1587

-0.58%

USD/JPY

160

+0.49%

USD/CNY

6.72

-0.03%

Commodities

CommodityPriceChange

Crude Oil (WTI)

83.40 USD/bbl

-0.16%

Brent Crude

88.10 USD/bbl

-1.78%

Gold

4,530 USD/oz

-1.73%

Data as of 30 Aug 2026, 20:16 WIB · Source: Yahoo Finance

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GLOBAL MACRO

Global Macro Snapshot

Live Market Indicators

DXY: 99.68

US 10Y: 4.67%

S&P 500: nan

Gold: 4,529.90$/oz

WTI: 83.40$/bbl

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CROSS-BORDER TECH & FINTECH M&A

FINTECH / CROSS-BORDER M&A

SBI Holdings Acquires 20% Stake in Ajaib at $1.35B Valuation

Japan's SBI Holdings has agreed to buy a 20% stake in Indonesian online investment platform Ajaib for $270 million, valuing the company at $1.35 billion. The deal underscores continued foreign investor appetite for Indonesia's digital financial services sector, even as the broader market navigates currency pressures with USD/IDR at Rp17,685.

For JBP, this signals a robust window for sell-side mandates in fintech, particularly for platforms with strong user growth and regulatory compliance. The transaction structure—strategic minority investment rather than full acquisition—may also set a precedent for future deals, where global financial groups seek local partnerships to enter Indonesia's market.

MY PERSPECTIVE

JBP Advisory Angle: This deal highlights the premium for strategic minority investments in Indonesian fintech, opening advisory opportunities for similar platforms seeking cross-border capital.

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INFRASTRUCTURE & DIGITAL ECONOMY

INFRASTRUCTURE / DATA CENTERS

Salim Group Acquires Keppel's Stake in Data Center Venture, Relaunches as IndoData

Salim Group has acquired Keppel's stake in their joint data center venture, relaunching it as IndoData. The move consolidates Salim's control over the Bogor facility, which began operations in 2022 with an initial 5MW phase. Financial terms were not disclosed, but the transaction reflects a broader trend of Indonesian conglomerates consolidating digital infrastructure assets.

With Southeast Asia's data center market expected to attract $86.57 billion in cumulative investment through 2031, this deal positions Salim to capture growing demand. JBP can leverage this momentum to advise other local conglomerates on acquiring or divesting data center assets, especially as global hyperscalers like Microsoft expand in Indonesia.

MY PERSPECTIVE

JBP Advisory Angle: The consolidation of data center ownership by local players creates both buy-side and sell-side advisory mandates, particularly for mid-sized facilities seeking strategic partners.

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CORPORATE RESTRUCTURING & CAPITAL RAISING

CAPITAL RAISING / RIGHTS ISSUE

DMS Propertindo (KOTA) Plans Rights Issue to Raise Over Rp4.4 Trillion

PT DMS Propertindo Tbk (KOTA) has announced plans for a rights issue targeting more than Rp4.4 trillion, a significant capital raise amid a busy period for Indonesian listed companies. The move is part of a broader trend, with several other issuers like IRSX, BMAS, and BUVA also launching rights issues to strengthen balance sheets and fund expansions.

This wave of capital raising activity comes as the JCI trades at 6,522 and companies seek to take advantage of equity market conditions. For JBP, this represents an opportunity to advise corporates on structuring rights issues, managing investor communications, and optimizing use of proceeds—especially in sectors like property and banking where capital needs are acute.

MY PERSPECTIVE

JBP Advisory Angle: The surge in rights issues across IDX-listed companies opens mandates for financial advisory on pricing, timing, and investor targeting to ensure successful capital raises.

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HEALTHCARE & CONSUMER M&A

HEALTHCARE M&A

VISI Acquires Hasna Medika for Rp286 Billion to Expand Heart Care Services

PT Satu Visi Putra Tbk (VISI) is acquiring PT Hasna Medika Bakti Cirebon (HMBC) for Rp286 billion, taking a 72.91% stake. The deal involves notable figures Pieter Tanuri and Raffi Ahmad, and will expand VISI's presence in cardiovascular healthcare services. This acquisition underscores the growing attractiveness of Indonesia's specialized healthcare providers as acquisition targets.

With rising demand for quality healthcare across Indonesia, particularly outside Jakarta, this transaction signals a trend of strategic consolidation in the sector. JBP can identify similar opportunities for both domestic and international healthcare groups looking to enter or expand in the Indonesian market through targeted acquisitions.

MY PERSPECTIVE

JBP Advisory Angle: The VISI-Hasna Medika deal highlights the value of regional healthcare assets, creating advisory opportunities for hospitals and clinics seeking capital or exit strategies.

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SOVEREIGN WEALTH & INFRASTRUCTURE

INFRASTRUCTURE / DIGITAL

Indonesia Launches 86,000-km Open-Access Fiber Grid; Indosat Carves Out Fiber Business

Indonesia has launched an 86,000-km open-access fiber grid, with Indosat Ooredoo Hutchison completing the carve-out of its fiber infrastructure into a standalone entity. Indosat sold an 84.9% stake in its fiber business to PT Nusantara Fiber Teknologi, an investment vehicle of Arsari Group, in a deal that closed in early July. This national project aims to boost digital connectivity and attract further investment.

The fiber grid's open-access model is expected to drive competition and innovation in Indonesia's digital economy. For JBP, this creates opportunities in advising on infrastructure investments, particularly for pension funds, sovereign wealth vehicles, and private equity looking to participate in the country's digital backbone expansion.

MY PERSPECTIVE

JBP Advisory Angle: The fiber infrastructure carve-out and national grid launch open advisory mandates for structuring investments in digital infrastructure, including public-private partnerships and strategic stakes.

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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 #88 · Sunday, August 30, 2026 · JBP Management Consulting & Financial Advisory · Jakarta, Indonesia