JAKARTA – Global investment research firm Morgan Stanley Capital International (MSCI) will include PT Dayamitra Telekomunikasi Tbk (MTEL) and PT Merdeka Battery Materials Tbk (MBMA) in the MSCI Global Small Cap Indexes.

In its official announcement on Tuesday (13/5), MSCI also revealed the removal of four issuers from the index constituents.

The four issuers removed are PT Harum Energy Tbk (HRUM), PT Indika Energy Tbk (INDY), PT Summarecon Agung Tbk (SMRA), and PT Wijaya Karya (Persero) Tbk (WIKA).

“All changes will take effect at the close of trading on 30 May 2025, with the effective date starting 2 June 2025,” MSCI stated.

The MSCI index is widely regarded as a key benchmark for global investors. Its assessments consider factors such as price performance, market capitalisation weighting, and a stock's free float position.

According to IDNFinancials.com data, MTEL currently has a market capitalisation of IDR 50.96 trillion. Over the past month, the share price of this subsidiary of PT Telkom Indonesia (Persero) Tbk (TLKM) has risen by 15.24%.

The Indonesian government, through TLKM, holds 71.84% of MTEL shares, while the free float portion stands at just 14.86%.

Meanwhile, MBMA has a market capitalisation of IDR 38.01 trillion. The gold mining company’s share price has strengthened by 25.35% over the past month.

PT Saratoga Investama Sedaya Tbk (SRTG) controls 18.80% of MBMA shares, while the free float is recorded at 46.15%. (KR/ZH)