Avia Avian (AVIA IJ)
Indonesia’s largest paint manufacturer ramping up capacity +80%
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Disclaimer: This post reflects my personal opinions. It is provided for informational and educational purposes only — it is not investment advice and not a recommendation to buy or sell any security, and it does not take into account your objectives, financial situation or needs. As of 19 July 2026, I do not hold a position in Avia Avian, and I receive no compensation from Avia Avian or any other company mentioned; my revenue comes solely from reader subscriptions. This disclosure reflects my position on the date stated and will not be updated. Asian Century Stocks uses information sources believed to be reliable, but accuracy cannot be guaranteed, and opinions are subject to change without notice. Do your own research and consult a licensed financial adviser before making any investment decision. Michael Fritzell, published by Delante Media Pte Ltd
Indonesian equities are clearly out of favor. Our friends at Variant Perception recently noted a negative bubble signal in MSCI Indonesia, suggesting recent panic selling.
One of the stocks that has declined a fair bit is Indonesian paint manufacturer Avia Avian (AVIA IJ – US$1.1 billion) ("Avian").
This company is often seen as a proxy for the Indonesian consumer. And the consumer is weak right now, hurt by the high interest rate environment and rising import costs.
In June 2026, President Commissioner Hermanto Tanoko purchased US$2 million worth of shares. Insider purchases have mixed predictive value, but the transaction prompted me to take a closer look at the company.
