Indonesia’s sector stalwarts are growing, yet many are disappearing from global indices

[JAKARTA] Indonesia’s biggest listed companies are increasingly being excluded from major global stock indices, raising concerns that South-east Asia’s largest economy is becoming less investable despite producing some of the region’s most valuable firms.

Mohit Mirpuri, senior partner for wealth management at SGMC Capital, noted that the recent exclusions reflect broader concerns about investability rather than a lack of corporate growth.

“The issue is not whether Indonesia has growth, but whether that growth is supported by sufficient free float, liquidity, transparency and institutional investability,” he said.