Top Foreign Flow – JCI, November 4,2026

Indonesia Lowers Main Coal Benchmark Price by 0.95% to US$125.60/t in 1H Nov26

The Ministry of Energy and Mineral Resources (ESDM) set the main coal reference price (HBA) at US$125.60/t for 1–14 Nov26, down 0.95% from US$126.81/t in 2H Oct26, but still up 21.1% yoyY. Meanwhile, benchmark prices for lower-calorie coal increased, with 5,300 kcal/kg GAR coal rising 4.5% to US$97.85/t, 4,100 kcal/kg increasing 4.8% to US$69.28/t, and 3,400 kcal/kg rising 2.4% to US$46.64/t. (Kontan)

Indonesia’s Oil & Gas Trade Deficit Widens 70.3% yoy to US$23.6bn in 9M26

Indonesia’s oil and gas trade deficit widened 70.3% yoy to US$23.6bn in 9M26, as exports fell 9.1% to US$8.96bn while imports rose 37.4% to US$32.57bn. In Sep26, the deficit narrowed slightly MoM to US$2.31bn from US$2.54bn in Aug26, supported by a 7.4% mom decline in imports to US$3.27bn. (Kontan)

Indonesia’s Automotive Component Industry Benefits from 16% yoy Vehicle Production Growth

Indonesia’s automotive component industry is seeing higher demand from original equipment manufacturers (OEMs), supported by a 16% yoy increase in four-wheel vehicle production through Sep26. Around 90% of members of the Association of Automotive Parts and Components Industries (GIAMM) supply components to automotive manufacturers. (Kontan)

Indonesia Gold Demand Declines in 3Q26 Amid Elevated Prices

Indonesia’s gold jewellery consumption fell 18% YoY to 3.1 tons in 3Q26, from 3.8 tons in 3Q25, according to the World Gold Council (WGC). Demand for gold bars and coins also declined 25% YoY and 8% QoQ to 13.3 tons, reflecting weaker consumer demand amid elevated gold prices. (Kontan)

Indonesian Government Targets to Issue Toll Road Integration Regulation in Nov26

ASSA Declares Rp20/share Interim Dividend

ASSA has declared an interim dividend of Rp20/share for FY26, totaling Rp73.82bn, following approval by its board of commissioners on 2 Nov-26. The dividend is based on financial results as of 30 Sep26, when net profit attributable to parent entity owners reached Rp292.3bn. Payment is scheduled no later than 20 Nov26. (Emiten News)

BRMS Targets Gold Production of Over 90,000 Oz in 2027

BRMS targets gold production of over 90,000 oz in 2027, supported by the planned commencement of underground mining in 2H27, with average gold grades exceeding 3.2 g/t. For FY26, the company targets production of 65,000–70,000 oz, following output of 16,700 oz in 3Q26 and an expected increase to over 25,000 oz in 4Q26. FY26 production will come entirely from its open-pit mine, with an average gold grade of around 1.5 g/t. (Bisnis)

GMFI Transfers 65.77% Stake to Danantara Asset Management as Part of Garuda Group Restructuring

GMFI reported the transfer of 82.10bn Series B shares, equivalent to a 65.77% stake, from PT Angkasa Pura Indonesia to PT Aviasi Pariwisata Indonesia (InJourney), and subsequently to PT Danantara Asset Management (DAM). The transfers were conducted through an in-specie dividend mechanism as part of the restructuring and financial recovery of Garuda Indonesia Group. (Bisnis)

PGEO Allocates 5MW Geothermal Capacity for Data Center Power Supply Pilot Project

PGEO has allocated 5MW of geothermal capacity at its Kamojang facility in West Java for a data center power supply pilot project, expected to run for 1–2 years. The company is currently completing regulatory adjustments and internal assessments of supply capacity to existing off-takers, with the process targeted for completion by late 2026 or early 2027 before proceeding to commercialization. (Bisnis)

WINS Provides Up to Rp129.4bn Corporate Guarantee for Subsidiary’s Financing

WINS has provided a corporate guarantee of up to Rp129.35bn to PT Bank Nano Syariah to support financing facilities obtained by its more than 99%-owned subsidiary, PT Sentosasegara Mulia Shipping. (Emiten News)