Bisnis.com, JAKARTA — BlackRock Inc., the world’s largest asset manager, aggressively accumulated shares affiliated with Prajogo Pangestu throughout January 2026, even as the Jakarta Composite Index (JCI) suffered massive sell-offs last week.

The benchmark index closed 4.88% lower at 7,922.73 on Monday (2/2/2026), bringing its year-to-date (YtD) decline to 8.38%. The slump also weighed on stocks linked to Indonesia’s wealthiest conglomerate, Prajogo Pangestu, several of which fall into the large-cap category.

Bisnis.com, JAKARTA — BlackRock Inc., the world’s largest asset manager, was observed increasing its exposure to Indonesia’s oil and gas sector after accumulating shares of MEDC and PGAS at the end of last week’s trading, Friday (12/26/2025).

The synchronized move by BlackRock into oil and gas stocks, PT Medco Energi Internasional Tbk. (MEDC) and PT Perusahaan Gas Negara Tbk. (PGAS), came as global crude oil prices remained in a strengthening phase.

Bisnis.com, JAKARTA — BlackRock Inc.’s buying spree of PT Perusahaan Gas Negara Tbk. (PGAS) stocks over the past six months has pushed the asset manager one rank above The Vanguard Group Inc. in the state-controlled utility provider.

BlackRock has now overtaken Vanguard to secure a top-three spot among PGAS’s largest shareholders. According to Bloomberg Terminal data as of Tuesday (11/25/2025), BlackRock purchased 6.32 million shares throughout November 2025, lifting its holdings from 372.58 million to 378.90 million shares.