Three Listed Companies Held by Singapore Government on Indonesia Stock Exchange: Local Investors Should Know
The Singapore Government holds shareholdings exceeding 1 per cent in three Indonesian listed companies, as disclosed through Indonesia’s Financial Services Authority (OJK) regulatory framework implemented in February 2026.
Following OJK Decision No. 1/KDK.04/2026 and Decree No. S-20/PM.1/2026 dated 26 February 2026, the Central Securities Depository (KSEI) and Indonesia Stock Exchange (BEI) became designated data providers for public company shareholding information. KSEI subsequently released a report on investors holding more than 1 per cent shareholding as of 27 February 2026, providing clarity on major investor positions, including foreign institutional investors.
These investments demonstrate high confidence from international investors in the performance and prospects of Indonesian national companies.
PT Bank Jago Tbk
One company attracting Singapore Government investment is PT Bank Jago Tbk, a rapidly developing digital bank in Indonesia. The Singapore Government holds approximately 1.148 billion shares, representing approximately 8.28 per cent of the company’s total shares. This holding reflects global investor confidence in Bank Jago’s business prospects, particularly within the rapidly expanding digital banking sector as technology-based financial services usage increases. In 2024, the Government of Singapore acquired approximately 1.15 billion Bank Jago shares, representing approximately 8.34 per cent ownership through an international custodian institution.
The entry of this institutional investor from Singapore strengthens Bank Jago’s position as a digital bank with significant growth potential in Indonesia.
PT Dayamitra Telekomunikasi Tbk (Mitratel)
PT Dayamitra Telekomunikasi Tbk, commonly known as Mitratel, is the second company with significant Singapore Government shareholding. The company operates in telecommunications tower infrastructure provision and is a subsidiary of Telkom Indonesia.
The Singapore Government holds approximately 4.450 billion shares, representing approximately 5.33 per cent of the company’s total shares. This holding makes Singapore one of Mitratel’s major shareholders. Mitratel is one of Indonesia’s largest telecommunications tower companies, operating thousands of towers utilised by various mobile operators to support the national telecommunications network.
PT Telkom Indonesia Tbk
The third company with Singapore Government shareholding is PT Telkom Indonesia Tbk, Indonesia’s largest state-owned telecommunications company (BUMN) providing services including telephone, internet, and digital services.
According to shareholding data, the Singapore Government holds approximately 1.034 billion shares, representing approximately 1.04 per cent of Telkom Indonesia’s total shares. Although this stake is smaller than in the two previous companies, it demonstrates that Telkom remains a strategic Indonesian company attracting global investor interest.
The Singapore Government’s shareholdings in these Indonesian companies reflect strong international investor confidence in national economic potential. The three companies represent diverse strategic sectors, from digital banking to telecommunications infrastructure, indicating Singapore’s investment interest in strategic Indonesian sectors.