The JBP Briefing — Thursday, August 27, 2026 (Issue #85)

THE JBP BRIEFING

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

Thursday, August 27, 2026 · Vol. 1, Issue #85

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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: 6,406

BI Rate: N/A

USD/IDR: Rp17,712

S&P 500: 7,675.70

WTI Crude: USD 81.82/bbl

Gold: USD 4,672/oz

Bitcoin: USD 78,599

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SEA MARKET SNAPSHOT

📈 Market Snapshot

Equity Indices

IndexMarketLevelChange

IDX Composite

Indonesia

6,406

-1.48%

STI

Singapore

5,705

-0.28%

KLCI

Malaysia

1,751

+0.13%

Hang Seng

Hong Kong

25,653

+0.56%

Nikkei 225

Japan

65,884

-0.57%

S&P 500

US

7,676

-0.02%

FX Rates

PairRateChange

USD/IDR

17,712

+0.10%

USD/SGD

1.2710

+0.17%

USD/MYR

4.0240

-0.37%

USD/THB

32.81

+0.53%

USD/PHP

61.69

+0.31%

EUR/USD

1.1660

-0.12%

USD/JPY

159

-0.04%

USD/CNY

6.72

+0.03%

Commodities

CommodityPriceChange

Crude Oil (WTI)

81.82 USD/bbl

-0.66%

Brent Crude

86.52 USD/bbl

-2.33%

Gold

4,672 USD/oz

+0.73%

Data as of 27 Aug 2026, 08:17 WIB · Source: Yahoo Finance

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GLOBAL MACRO

Global Macro Snapshot

Live Market Indicators

DXY: 99.12

US 10Y: 4.66%

S&P 500: 7,675.70

Gold: 4,671.60$/oz

WTI: 81.87$/bbl

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DEAL SPOTLIGHT

CROSS-BORDER M&A

Chandra Asri Expands into Regional Mobility with Cycle & Carriage Acquisition

PT Chandra Asri Pacific Tbk (IDX: TPIA), controlled by Indonesian billionaire Prajogo Pangestu, has signed a conditional agreement to acquire the automotive business of Cycle & Carriage in Singapore and Malaysia for an estimated S$265 million (US$208 million). The deal marks Chandra Asri's entry into the automotive sector, complementing its existing energy business in Singapore, which includes the recent acquisition of Esso-branded fuel retail operations.

Financed by Mizuho Bank with Greenhill acting as exclusive financial adviser, the transaction underscores a strategic shift by Indonesian conglomerates toward regional diversification. With the JCI at 6,406 and the rupiah at Rp17,712 per US dollar, Indonesian firms are increasingly looking abroad for growth. This deal may signal a wave of cross-border acquisitions by domestic players seeking to leverage regional synergies.

MY PERSPECTIVE

JBP Advisory Angle: This acquisition highlights the growing trend of Indonesian corporates pursuing regional expansion, creating advisory opportunities for cross-border M&A, due diligence, and post-merger integration services.

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CAPITAL RAISING & LISTING ACTIVITY

EQUITY CAPITAL MARKETS

Four Indonesian Issuers Prepare Capital Raises in H2 2026

PT Bhuwanatala Indah Permai Tbk (BIPP), PT Folago Global Nusantara Tbk (IRSX), PT Bank Maspion Indonesia Tbk (BMAS), and PT Raharja Energi Cepu Tbk (RATU) are planning to raise fresh funds through rights issues or private placements in the second half of 2026. This follows a period of heightened capital-raising activity on the Indonesia Stock Exchange, with companies seeking to strengthen balance sheets and fund expansion.

Additionally, PT Swayasa Prakarsa Tbk (SWAP) has started its IPO bookbuilding, offering 323 million shares (30.30% of enlarged capital) at Rp130–Rp140 per share, aiming to raise around Rp45.22 billion. With the JCI at 6,406, the equity market remains receptive to new listings and secondary offerings, providing a window for issuers to access capital.

MY PERSPECTIVE

JBP Advisory Angle: The active pipeline of rights issues and IPOs indicates a robust ECM environment, presenting advisory mandates in valuation, prospectus preparation, and investor roadshows for both issuers and underwriters.

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SECTORAL GROWTH & INVESTMENT

INFRASTRUCTURE & DIGITAL ECONOMY

Southeast Asia Data Centre Investment to Triple by 2031

According to research firm Arizton, data centre investment in Southeast Asia is projected to surge from US$15.72 billion in 2025 to US$35.08 billion by 2031. Malaysia leads with over 6GW of announced capacity, mostly in Johor, while Thailand is the fastest-growing market. The region currently has 306 operational data centres, with 173 more in the pipeline, representing nearly four times the existing capacity.

This expansion is driven by increasing cloud adoption, AI workloads, and digitalisation across the region. For Indonesia, the development of data centre infrastructure is critical to support its digital economy ambitions. With the rupiah at Rp17,712 and global investors seeking yield, the sector offers significant opportunities for partnerships and financing.

MY PERSPECTIVE

JBP Advisory Angle: The data centre boom opens advisory mandates in project finance, joint ventures, and M&A for Indonesian and regional players, particularly in structuring partnerships with global operators and investors.

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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 #85 · Thursday, August 27, 2026 · JBP Management Consulting & Financial Advisory · Jakarta, Indonesia