Learn from the Top 10 Companies in Indonesia

We will walk you through the Top Companies in Indonesia in 2021 and their success. Learn from their stories to shine in 2022.

Despite the ongoing pandemic, several Indonesian businesses continue to thrive. Entrepreneurs could learn from these tremendously successful organizations and question what techniques they might use to prosper throughout the crisis.

In this article, we’ll take you on a quick tour of Indonesia’s top companies based on their market capitalization.

2021 Top Companies in Indonesia

According to Investopedia, market capitalization is defined as how much a company is worth on the stock market. Companies are often categorized into three groups based on their market capitalization:

  • Large-Cap (USD 10 billion or more)
  • Mid-Cap (USD 2 billion to USD 10 billion)
  • Small-Cap (USD 300 million to USD 2 billion)

Market capitalization is a significant concept as it is one of the elements that influence other company attributes that are important to investors.

Top Companies in Indonesia based on Its Market Capitalization

Bank Central Asia (IDX: BBCA)

Market Cap: USD 63.26 Billion

PT Bank Central Asia Tbk is a private bank based in Indonesia. It specializes in transaction banking, providing credit and financial solutions to corporate, commercial, small-medium-enterprise (SME), and consumer clients.

Bank Rakyat Indonesia (IDX: BBRI)

Market Cap: USD 43.22 Billion

This bank is based in Indonesia and is known as PT Bank Rakyat Indonesia (Persero) Tbk. Savings products, lending products, and other banking services are easily availed by the account holders. One of their distinguished services is BRI Britama Savings, which gives users e-banking access from any location and at any time, as well as free personal accident insurance coverage.

Telkom Indonesia (IDX: TLKM)

Market Cap: USD 28.65 Billion

State-owned telecommunications company PT Telkom Indonesia Tbk, caters to the mobile segment, consumer segment, enterprise segment, wholesale and foreign business segment, and others.

Bank Mandiri (IDX: BMRI)

Market Cap: USD 24.75 Billion

Bank Mandiri is one of Indonesia’s largest state-owned Bank based on its assets’ value. Individuals, small and medium-sized businesses (SMEs), and corporations can all make use of Bank Mandiri’s wide array of banking products and services.

Astra International (IDX: ASII)

Market Cap: USD 16.69 Billion

The seven core business segments of the Indonesian PT Astra International Tbk are Automotive, Financial Services, Heavy Equipment & Mining, Agribusiness, Infrastructure and Logistics, Information Technology (IT), and Property.

Bank Jago (IDX: ARTO)

Market Cap: USD 15.37 B

PT Bank Jago Tbk, originally PT Bank Artos Indonesia Tbk, is an Indonesian bank with a focus on retail and digital banking. It created Jago, a finance app that assists with money management.

Unilever Indonesia (IDX: UNVR)

Market Cap: USD 11.76 B

PT Unilever Indonesia Tbk specializes in the production, marketing, and distribution of fast-moving consumer goods (FMCG). The company’s principal commercial operations are divided into two operational segments: Home & Personal Care, and Commercial & Industrial.

Chandra Asri Petrochemical (IDX: TPIA)

Market Cap: USD 10.64 B

The petrochemical company PT Chandra Asri Petrochemical Tbk is based in Indonesia. Olefins (Ethylene, Propylene, Py-Gas, and Mixed C4), Polyolefins (Polyethylene and Polypropylene), Styrene Monomer, Methyl Tert-butyl Ether (MTBE), Butene-1 (B1), Butadiene, and Tanks and Jetty Rental are among the company’s product segments.

Elang Mahkota Teknologi (IDX: EMTK)

Market Cap: USD 8.90 B

PT Elang Mahkota Teknologi Tbk is in the media industry. The business is divided into three segments: media, solutions, and others. Under the three television (TV) segments, its media represents free-to-air (FTA) television channels. The film, video production, a megaportal website, and digital publication are also included.

Bank Negara Indonesia (IDX: BBNI)

Market Cap: USD 8.77 B

PT Bank Negara Indonesia (Persero) Tbk specializes in the banking sector. Corporate, Middle and Small Business, Consumer, Treasury and Financial Institutions, Head Office, and Subsidiaries are included in this bank’s segments.

Learn from the Top Companies in Indonesia

The preceding list of Indonesia’s top companies provides some valuable insights that might help entrepreneurs make informed decisions in their business.

For instance, five of the top companies in Indonesia by market capitalization are from the finance industry, which is dominated by state-owned banks.

Furthermore, despite the fact that Bank Jago has only been established for a few months, it has one of the greatest market capitalization (USD 14.6 billion).

Rapid digital adoption across Indonesian banks, especially state-owned companies, is one of the contributing factors to the financial and banking industry’s continued strong expansion.

According to a recent analysis from Google, Temasek, and Bain, Indonesia’s internet economy will likely reach USD 330 billion in value by 2030, nearly doubling the present digital economy’s value of USD 170 billion in Southeast Asia.

The analysis also predicted that Indonesia’s internet economy will grow to USD 146 billion by 2025, up from USD 70 billion this year, thanks to an open legislative environment that encourages the use of digital financial services.

The use of digital banking has increased dramatically in Indonesia. In 2017, 57% of Indonesian consumers actively used digital banking (at least once a month via the internet or mobile channels). These consumers are expected to spend less cash as they depend more on digital payment methods.

Already in 2021, 55% of respondents say they use cash for less than 30% of their weekly expenditures, and 80% of Indonesian survey respondents report that they expect to maintain or increase their use of mobile and online banking beyond the pandemic. This broad adoption of digital banking during the COVID-19 pandemic has brought the industry to a new level of maturity, opening new opportunities and challenges for banks and nonbanks alike.

Start Your Company in Indonesia with Cekindo

Investing in Indonesia consists of multiple procedures that are time-consuming and overly official. Having company registration professionals, like Cekindo, by your side can save you a great deal of time as well as provide you with a hassle-free experience. Cekindo provides a wide spectrum of ancillary services related to company registration, like legal consultancy, business license and other documents acquisition, tax and accounting, and HR services.

Let’s start by filling out the form below and talking to one of our professional counselors.

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Pandu Biasramadhan

Pandu is the Consulting Manager at Cekindo. He has extensive experience in working with government agencies. Notably, he has provided market-entry solutions for enterprises in Indonesia and managed regional partnership channels in Southeast Asia. At Cekindo, Pandu aspires to lead the consulting team to provide top-quality market-entry services and maintain a portfolio of global clientele. His specialty is market-entry advisory and business process outsourcing.