IHSG Under Pressure, These Shares Become Champions for Profit Seekers

Jakarta, CNBC Indonesia — The Composite Stock Price Index (IHSG) closed trading on Thursday 26 February in the red zone after declining 1.04% to the level of 8,235.26. Shares that underpinned index movements included Telkom Indonesia (TLKM) rising 1.39%, Pabrik Kertas Tjiwi Kimia (TKIM) surging 19.95%, and Astra International (ASII) strengthening 1.13%.

Conversely, the deepest pressure came from Bukit Uluwatu Villa (BUVA) falling 14.76%, VKTR Technology Mobility (VKTR) weakening 9.55%, and Impack Pratama Industri (IMPC) correcting 9.01%.

From a fund flow perspective, foreign investors recorded net selling of Rp409.35 billion in the regular market, although the overall market still recorded net buying of Rp341.26 billion. On a sectoral basis, all 11 sectors ended in the negative zone with the transportation sector recording the deepest decline of 4.54%.

On the issuer side, Garuda Indonesia (GIAA) reported improvements in operational performance throughout 2025 following restructuring through capital injection and shareholder loans from Danantara totalling Rp23.70 trillion.

Passenger numbers grew 10.50% year-on-year, accompanied by an increase in Seat Load Factor (SLF) to 81% from previously 77% in 2024, supported by the addition of operational fleet.

Currently, GIAA’s total fleet reaches 90 aircraft, consisting of 58 units under Garuda operations and 32 units under Citilink operations. The company has also paid off its fuel debt to Pertamina amounting to Rp3 trillion.

Nevertheless, based on the 9M25 financial report, GIAA still recorded a net loss of US$142.84 million, up compared to the same period in the previous year of US$100.35 million, with a negative equity position of US$1.50 billion. Danantara targets operational and financial improvements starting 2026.

Meanwhile, Puradelta Lestari (DMAS) is targeting marketing sales of Rp2.08 trillion in 2025 or growing 30% year-on-year from actual results of Rp1.60 trillion. This target is supported by industrial land sales of 75 hectares, with approximately 70% allocated for data centre development.

In 2025, DMAS has recorded industrial land sales of 46 hectares, of which approximately 60% of these contribute to data centre development, reflecting strong demand from the digital economy sector.