9 Shares with Over 95% Single Ownership Control, Including BREN

Jakarta, CNBC Indonesia - The Financial Services Authority (OJK), together with the Indonesia Stock Exchange (BEI) and the Indonesian Central Securities Depository (KSEI), has officially begun releasing data on High Shareholding Concentration (HSC), or high share ownership concentration for certain issuers.

HSC issuers are those owned by a small number of parties or affiliated parties. This data became available starting last Thursday (2/4/2026).

This more transparent data is expected to enhance confidence among capital market investors.

The data is based on the methodology for determining High Shareholding Concentration regarding share ownership structures in the form of certificates and without certificates as of 31 March 2026.

Under those provisions, nine shares were announced last Thursday with single ownership above 95%.

The issuers with High Shareholding Concentration at present are PT Rockfields Properti Indonesia Tbk (ROCK) with 99.85% single share ownership, followed by PT Ifishdeco Tbk (IFSH) with 99.77%.

What Are the Risks of High Shareholding Concentration?

Shares with high concentrated ownership are considered to carry far greater risks compared to shares with large free floats.

This is because control over pricing and liquidity lies in the hands of a handful of parties, not entirely by market mechanisms.

With control by a few parties, transaction volumes can be limited, making it difficult for investors to sell shares during turbulent markets.

Limited ownership also allows prices to surge very high or plummet due to small transactions by the main owner. Prices that can be controlled by a few parties certainly do not reflect the overall stock market.

Major shareholders also have full control over the company’s policy direction and dividends.