Jakarta. State-run construction firm Adhi Karya, known by its ticker symbol ADHI, officially became one of the constituents in Pefindo’s i-Grade index for the July-December 2024 period, according to a press release.

ADHI’s appointment was based on the evaluation done by credit-rating agency Pefindo and the Indonesia Stock Exchange (BEI). The Pefindo i-Grade index is a stock price index consisting of issuers that have received an investment rating of idAAA to idBBB-. This index typically performs better than other broad-based indexes. Since the base-date period (Dec. 28, 2012), Pefindo i-Grade has consistently outperformed other stock indexes at BEI. Pefindo i-Grade even recorded a 126.51 percent return.

“ADHI has maintained its idA- rating amidst the challenges hitting the industry, thus proving that the company is able to meet its financial commitments,” ADHI stated in a recent press release.

“Having ADHI on this index reflects the team’s hard work and dedication to maintaining standards across all of our business operations. ADHI promises to continue to improve our performance and bring added value for our stakeholders,” the company said.