Largest Indonesian Companies in Terms of Market Capitalization
In recent years, Astra International, one of Indonesia's largest diversified conglomerates, dominated the Indonesia Stock Exchange (IDX) in terms of market capitalization. However, it increasingly felt the competition of HM Sampoerna, Indonesia's largest tobacco company. Over the last five years, HM Sampoerna's market capitalization grew by a staggering 746.2 percent. It is also interesting to note that a handful of Indonesian companies account for over one-third of market capitalization of Indonesia's stock exchange.
HM Sampoerna (HMSP) and Astra International (ASII) account for 7.68 and 5.69 percent respectively of total market capitalization of the Indonesia Stock Exchange. As such, both these companies are the dominating forces in the stock market. Interestingly enough, both companies are foreign-owned. Philip Morris Indonesia, subsidiary of the international cigarette and tobacco giant, bought 97.95 percent of HM Sampoerna's stock equity in 2005, while Singapore-based Jardine Cycle & Carriage Ltd, subsidiary of the Jardine Matheson Group, owns 50.11 percent of Astra International's stock equity.
Top Market Capitalization Indonesian Companies:
| End 2011 | End 2012 | 17 May 2013 | |||
| Company | IDR trillion | Company | IDR trillion | Company | IDR Trillion |
| Astra International | 299.58 | Astra International | 307.68 | HM Sampoerna | 385.70 |
| Bank Central Asia | 195.27 | HM Sampoerna | 262.52 | Astra International | 285.41 |
| HM Sampoerna | 170.94 | Bank Central Asia | 222.12 | Bank Central Asia | 268.49 |
| BRI | 164.85 | Bank Mandiri | 187.11 | Telkom | 240.91 |
| Bank Mandiri | 155.93 | Telkom | 182.45 | Unilever | 238.44 |
| Unilever | 143.44 | BRI | 169.74 | Bank Mandiri | 232.15 |
| Telkom | 142.13 | Unilever | 159.09 | BRI | 228.35 |
Source: Investor Daily