Indonesia Stock Exchange Receives Audiences from Issuers with High Shareholding Concentration

PT Bursa Efek Indonesia (IDX) has revealed that it has received numerous formal requests for audiences from issuers categorised as High Shareholding Concentration (HSC).

Acting President Director of IDX, Jeffrey Hendrik, stated that the exchange has not yet received any reports regarding the specific measures or steps these issuers intend to take to exit the HSC category. “We have received several requests for discussions, and we are addressing all of them appropriately. There are various dates involving several companies,” Jeffrey told reporters at the IDX Media Centre in Jakarta on Monday.

Jeffrey noted that he has conducted audiences with several issuers regarding their HSC status recently. Currently, there are 10 issuers classified under the HSC category, as previously announced by the IDX. However, he did not disclose the specific names of the companies that have already held these meetings.

Regarding HSC-category issuers, Jeffrey mentioned that the IDX has not set a specific deadline for these companies to improve their shareholding structures, nor will the exchange implement any specific exit policy for them.

As background, ten stocks in the HSC category have been removed from indices by global index providers such as MSCI, and FTSE Russell has also announced plans to exclude HSC stocks from its indices.

The complete list of issuers/stocks in the HSC category includes:

• PT Barito Renewables Energy Tbk (BREN)

• PT Dian Swastatika Sentosa Tbk (DSSA)

• PT Abadi Lestari Indonesia Tbk (RLCO)

• PT Rockfields Properti Indonesia (ROCK)

• PT Panca Anugrah Wisesa Tbk (MGLV)

• PT Ifishdeco Tbk (IFSH)

• PT Satria Mega Kencana Tbk (SOTS)

• PT Samator Indo Gas Tbk (AGII)

• PT Lima Dua Lima Tiga Tbk (LUCY)

• PT BSA Logistics Indonesia Tbk (WBSA)