Transportation Issuers Reap Large Profit After Pandemic

Issuers listed in the IDX Transportation & Logistic Sector index will benefit from President Joko Widodo’s official announcement of the pandemic status change to endemic. Increasing public mobility will increase proportionally to economic growth.

Rinaldi Azka

23 Jun 2023 - 01.36
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Transportation Issuers Reap Large Profit After Pandemic

Sea transportation services also reap large profits in the post-pandemic era./Bisnis./TMAS

Bisnis, JAKARTA - The transportation sector has taken the spotlight during the recovery period, demonstrating remarkable performance and increased public mobility. 

The IDX Transportation & Logistic Sector index has shown the highest improvement throughout the year, with a year-to-date (YtD) growth of 16.28 percent, reaching 1,932.58. 

This growth surpasses other indexes, including the Composite Stock Price Index (IHSG), which experienced a -2.16 percent YtD growth. Among the 34 constituents of the index, notable companies such as PT Blue Bird Tbk. (BIRD), PT Temas Tbk. (TMAS), and PT Adi Sarana Armada Tbk. (ASSA) have shown YtD growth rates of 51.77 percent, 46 percent, and 67.1 percent, respectively.

On Wednesday (6/21/2023), President Joko Widodo (Jokowi) officially declared the pandemic status to be endemic, which has positively influenced the stock market and the composite index. 

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