Continuing Outperformed Performance, PEFINDO i-Grade Index Determines Constituents for Semester 2-2023

Performance of PEFINDO i-Grade Index

Based on back-testing that we can see in Figure 1, the PEFINDO i-Grade Index outperformed the Jakarta
Composite Index (JCI), LQ45, IDX30, and SRI-KEHATI index. It can be seen in the pattern of all four indexes
relative to the base day of the PEFINDO i-Grade Index, which is on December 28, 2012. The return of the
PEFINDO i-Grade Index on June 27, 2023, was 112.13% relative to its base day. Meanwhile, the returns of JCI,
LQ45, IDX30, and SRI-KEHATI were 54.33%, 28.66%, 31.96%, and 89.83%, respectively. It shows that the
PEFINDO i-Grade index outperformed JCI, LQ45, IDX30, and SRI-KEHATI since its base day.

PEFINDO i-Grade Index Constituents for July 2023 – December 2023

Based on reviewed results using rating data owned by PEFINDO and the stock trading of companies
rated by PEFINDO, the companies below are the constituents of the PEFINDO i-Grade Index for the period of
July 2023 – December 2023:

1. ADMF Adira Dinamika Multi Finance Tbk. idAAA
2. AKRA AKR Corporindo Tbk. idAA
3. BBCA Bank Central Asia Tbk. idAAA
4. BNGA Bank CIMB Niaga Tbk. idAAA
5. BMRI Bank Mandiri (Persero) Tbk. idAAA
6. BNII Bank Maybank Indonesia Tbk. idAAA
7. BBNI Bank Negara Indonesia (Persero) Tbk. idAAA
8. PNBN Bank Pan Indonesia Tbk. idAA
9. BJBR Bank Pembangunan Daerah Jawa Barat dan Banten Tbk. idAA
10. BBRI Bank Rakyat Indonesia (Persero) Tbk. idAAA
11. BRIS Bank Syariah Indonesia Tbk. idAAA
12. BRPT Barito Pacific Tbk. idA+
13. BSDE Bumi Serpong Damai Tbk. idAA-
14. TPIA Chandra Asri Petrochemical Tbk. idAA-
15. DSNG Dharma Satya Nusantara Tbk. idA
16. ELSA Elnusa Tbk. idAA
17. BMTR Global Mediacom Tbk. idA+
18. INKP Indah Kiat Pulp and Paper Tbk. idA+
19. ISAT Indosat Tbk. idAAA
20. JSMR Jasa Marga (Persero) Tbk. idAA
21. MYOR Mayora Indah Tbk. idAA
22. MEDC Medco Energi Internasional Tbk. idAA-
23. HEAL Medikaloka Hermina Tbk. idAA
24. MDKA Merdeka Copper Gold Tbk. idA+
25. PTPP Pembangunan Perumahan (Persero) Tbk. idA
26. SMGR Semen Indonesia (Persero) Tbk. idAA+
27. SMRA Summarecon Agung Tbk. idA+
28. TLKM Telkom Indonesia (Persero) Tbk. idAAA
29. TINS Timah Tbk. idA
30. WOOD* Integra Indocabinet Tbk. idA

(*) New member of PEFINDO i-Grade for July 2023 – December 2023.