JAKARTA (Yosefardi) – Consumer goods giant Unilever Indonesia (UNVR) has surged past two of Indonesia’s largest banks, Mandiri (BMRI) and Bank Rakyat Indonesia (BBRI), in terms of market capitalization.
Unilever surged 11% to Rp31,250 on Friday (May 17) to become a company with market cap of Rp238.4 trillion, fifth largest in the market ahead of Bank Mandiri (Rp234.5 trillion) and BRI (Rp230.7 trillion).
Unilever is now inches below Telekom Indonesia, fourth largest, which has market cap of Rp240.9 trillion. Telkom gained 32% year-to-date, while Unilever jumped almost 50%.
Cigarette giant HM Sampoerna, unit of Philip Morris Internationa, is still the largest with Rp386 trillion, followed by Astra International (Rp285.4 trillion) and Bank Central Asia (Rp271.2 trillion).
Completing the Top 10 are Perusahaan Gas Negara (Rp150 trillion), Semen Indonesia (Rp110 billion), and Gudang Garam (Rp106.8 trillion).