Darma Henwa (DEWA) Plans IDR 1.66 tn Share Buyback

INDUSTRY
Ministry of MSMEs Urges E-Commerce Platforms to Separate Local and Imported Product Listings 
The Ministry of MSMEs called on e-commerce platforms to clearly separate local and imported product listings to strengthen competitiveness of domestic MSMEs amid rising inflows of affordable, high-quality imports. Deputy Temmy Satya Permana said clearer categorization will help consumers identify local products and boost visibility for MSMEs, noting ongoing enforcement efforts such as removal of illegal imported used-clothing listings. (Kontan)

COMPANY
Darma Henwa (DEWA) Plans IDR 1.66 tn Share Buyback 
DEWA announced a share buyback program valued at up to IDR 1.66 tn, with execution scheduled for 19-Nov-25 to 19-Feb-26. Management said the buyback—equivalent to around 10% of paid-up capital—will use internal cash and is not expected to negatively impact revenue or operational performance. (Company)

Medco Energy (MEDC) Adds 9 MMSCFD Gas Output from Suban Well Workover 
MEDC boosted production by 9 MMSCFD from the Suban-22ST2 workover in the Corridor Block, far above the 2 MMSCFD target, after completing a 12-day rigless operation on 10-Nov-25. Management said the result underscores the effectiveness of optimized technical approaches, while SKK Migas noted the additional volume strengthens national gas supply and energy security. (Kontan)

Bank Tabungan Negara (BBTN) Requests Additional SAL Placement 
BTN plans to request an additional IDR 5–10 tn in SAL placement after fully disbursing its previous IDR 25 tn allocation by early November—around 70% channelled to housing loans. CEO Nixon Napitupulu said the fresh funds would support ongoing mortgage expansion through year-end, while Kemenkeu recently allocated IDR 76 tn only to BNI, BRI, Mandiri, and Bank DKI. Economists note the SAL injections materially boost banking-system liquidity and lending capacity. (Kontan)

Rukun Raharja (RAJA) Established New Subsidiary to Expand Revenue Streams
RAJA has established a new subsidiary, PT Banawa Rezeki Optima (BRO), with 99.99% ownership valued at IDR 57.75 bn, aiming to strengthen its expansion into domestic and international marine transportation. Management said the new entity—officially approved on 12-Nov-25—supports RAJA’s long-term business development strategy and is expected to contribute positively once operations scale up, though current financial impact remains immaterial. (Kontan)

Trimegah Bangun Persada (NCKL) Conducted Affiliated Saprolite Nickel Ore Sales via Subsidiaries
Trimegah Bangun Persada (NCKL) Conducted Affiliated Saprolite Nickel Ore Sales via Subsidiaries NCKL reported affiliated transactions involving saprolite nickel ore sales by its subsidiary PT Gane Tambang Sentosa (GTS) to PT Karunia Permai Sentosa (KPS) and PT Halmahera Jaya Feronikel (HJF), based on agreements signed on 13 Nov-25. The selling price refers to ESDM Regulation No. 11/2020 on benchmark mineral and coal prices. The ore will be used as feedstock to support KPS and HJF production needs. (Kontan)