JAKARTA – PT Bayan Resources Tbk (BYAN) has replaced the position of PT Astra International Tbk (ASII) in the top five issuers with the highest market capitalization in 2022.

Based on the Indonesia Stock Exchange (IDX) data quoted Tuesday (24/1), BCA reigns at the top, boasting a market capitalization of IDR 1.04 quadrillion or covering 10.98% of the total market capitalization of IDR 9.49 quadrillion in 2022. In the second place, BRI remains stable with IDR 741.21 trillion of market cap, followed by BYAN with IDR 700 trillion, Bank Mandiri of IDR 458.53 trillion, and TLKM of IDR 371.48 trillion.

In 2021, the top five highest market cap includes BCA of IDR 890.90 trillion, BRI of IDR 616.67 trillion, TLKM of IDR 400.22 trillion, Bank Mandiri of IDR 324.55 trillion, and ASII of IDR 230.76 trillion.

The impressive increase of coal prices throughout 2022 has allowed BYAN, owned by Low Tuck Kwong, to enter the top three highest market cap. In 2021, BYAN was stuck at 15th place, recording a market cap of IDR 90 trillion or equal to 1.09% of total market cap in 2021 of IDR 8.25 quadrillion.

Furthermore, TLKM, which managed to secure the third place with the market cap of IDR 400.21 trillion in 2021, should accept its fifth place in 2022, recording a market cap of IDR 371.48 trillion in 2022. ASII then stepped down from the fifth to the sixth place, recording a market capitalization worth IDR 230.75 trillion at the end of 2022. (LK/ZH)