IDX releases 51 stocks with high shareholding concentration, here is the full list

The Indonesia Stock Exchange (IDX) has released a list of 51 stocks that meet the criteria for high shareholding concentration (HSC). These HSC-category stocks will automatically be removed by the IDX from major indices, including the LQ45, IDX30, and IDX80. “We will soon announce that 37 new stocks have entered the high shareholding concentration criteria, bringing the total number of stocks in the high shareholding concentration to 51,” said IDX President Director Jeffrey Hendrik in a statement quoted in Jakarta on Wednesday. The full list of 51 stocks entering the HSC criteria includes: PT Samator Indo Gas Tbk (AGII), PT Barito Renewables Energy Tbk (BREN), PT Dian Swastatika Sentosa Tbk (DSSA), PT Ifishdeco Tbk (IFSH), PT Panca Anugrah Wisesa Tbk (MGLV), PT Abadi Lestari Indonesia Tbk (RLCO), PT Rockfields Properti Indonesia Tbk (ROCK), PT Satria Mega Kencana Tbk (SOTS), PT BSA Logistics Indonesia Tbk (WBSA), PT Transcoal Pacific Tbk (TCPI), PT Mahkota Group Tbk (MGRO), PT Kota Satu Properti Tbk (SATU), PT Delta Giri Wacana Tbk (DGWG), PT Habco Trans Maritima Tbk (HATM), PT DCI Indonesia Tbk (DCII), PT Bayan Resources Tbk (BYAN), PT Indoritel Makmur Internasional Tbk (DNET), PT Ekamas Mora Republik Tbk (MORA), PT Sejahteraraya Anugrahjaya Tbk (SRAJ), PT Bank Permata Tbk (BNLI), PT Bank Ina Perdana Tbk (BINA), PT Pradiksi Gunatama Tbk (PGUN), PT Soho Global Health Tbk (SOHO), PT Jaya Sukses Makmur Sentosa Tbk (RISE), PT FAP Agri Tbk (FAPA), PT Siloam International Hospitals Tbk (SILO), PT Krom Bank Indonesia Tbk (BBSI), PT Bank SMBC Indonesia Tbk (BTPN), PT Siantar Top Tbk (STTP), PT Multipolar Technology Tbk (MLPT), PT Golden Energy Mines Tbk (GEMS), PT Global Digital Niaga Tbk (BELI), PT Maha Properti Indonesia Tbk (MPRO), PT Famon Awal Bros Sedaya Tbk (PRAY), PT Sinar Mas Agro Resources and Technology Tbk (SMAR), PT Cemindo Gemilang Tbk (CMNT), PT Metropolitan Kentjana Tbk (MKPI), PT Perdana Bangun Pusaka Tbk (KONI), PT Yupi Indo Jelly Gum Tbk (YUPI), PT Hotel Fitra International Tbk (FITT), PT Ancara Logistics Indonesia Tbk (ALII), PT Hoffmen Cleanindo Tbk (KING), PT MD Entertainment Tbk (FILM), PT Pelayaran Nasional Ekalya Purnamasari Tbk (ELPI), PT Golden Flower Tbk (POLU), PT MSIG Life Insurance Indonesia Tbk (LIFE), PT Prima Andalan Mandiri Tbk (MCOL), PT Bank Maybank Indonesia Tbk (BNII), PT Allo Bank Indonesia Tbk (BBHI), PT Bank Mega Tbk (MEGA), and PT Citra Marga Nusaphala Persada Tbk (CMNP). The total of 51 HSC stocks is the result of adding 37 new HSC stocks to the previously released 14. The addition of the 37 new HSC stocks follows the establishment of a new criterion, the Price Impact Ratio, to determine that stocks with a market capitalisation above Rp10 trillion can fall into the HSC category. Jeffrey explained that the Price Impact Ratio calculates the change in a stock’s price against its velocity, where velocity is calculated from the average transaction volume relative to the number of shares available to the public (free float). This means that stocks with low transaction volume activity will naturally produce low velocity, and with low velocity but large price changes, they will produce a high Price Impact Ratio. The IDX will conduct periodic quarterly evaluations for HSC-criteria stocks, following the evaluation cycle of the main indices on the IDX. “It is on these stocks that we will screen for the potential presence or absence of high shareholding concentration. Of course, other trigger factors related to supervisory activities will still be carried out,” said Jeffrey. HSC stocks, or stocks with high shareholding concentration, are conditions where the majority of a company’s shares are controlled by only a handful of parties, specific groups, or their affiliates. Consequently, the number of shares freely circulating in the public (free float) becomes very small or thin.