Salim, Hartono, and Sinar Mas Among Groups Behind HSC Shares

The Indonesia Stock Exchange (BEI) has expanded its list of shares with highly concentrated ownership, known as High Shareholding Concentration (HSC). As of Wednesday, 15 July 2026, at 08.00 WIB, the total number of HSC shares reached 51. This data disclosure is expected to boost investor confidence in the capital market. The information is based on the methodology for determining High Shareholding Concentration from the shareholding structure in both scrip and scripless forms as of 30 June 2026.

Several conglomerate groups are listed as controllers or shareholders behind these HSC shares. The Salim Group is recorded as being linked to four HSC shares, while the Sinar Mas Group is associated with five. The Tahir and Riady family conglomerates are each connected to two HSC shares.

HSC refers to a category of shares where the majority ownership is controlled by a single party or an affiliated group, resulting in a relatively limited number of shares available to the public. This information is published as part of efforts to increase transparency and investor protection in the capital market. Shares with highly concentrated ownership are considered to carry significantly greater risk compared to those with a large free float, as control over pricing and liquidity rests with a few parties rather than being fully determined by market mechanisms. This limited ownership can lead to restricted transaction volumes, making it difficult for investors to sell shares during market volatility. It also allows prices to spike or plummet dramatically due to small transactions by the major owner, with such controlled prices not reflecting the overall market. Major shareholders also have full control over company policy direction and dividends.

Based on CNBC Indonesia’s summary, the following conglomerate groups and their associated HSC shares are:

Keluarga Tahir (Mayapada Group):

• PT Maha Properti Indonesia Tbk. (MPRO) - 99.99%

• PT Sejahteraraya Anugrahjaya Tbk. (SRAJ) - 97.21%

Salim Group:

• PT DCI Indonesia Tbk. (DCII) - 99.96%

• PT Indoritel Makmur Internasional Tbk. (DNET) - 98.04%

• PT Bank Ina Perdana Tbk. (BINA) - 94.79%

• PT Perdana Bangun Pusaka Tbk. (KONI) - 95.08%

Andi Syamsuddin Arsad (Haji Isam):

• PT Pradiksi Gunatama Tbk. (PGUN) - 99.95%

Sinar Mas Group:

• PT Sinar Mas Agro Resources and Technology Tbk. (SMAR) - 99.58%

• PT Golden Energy Mines Tbk. (GEMS) - 99.24%

• PT MSIG Life Insurance Indonesia Tbk. (LIFE) - 99.21%

• PT Dian Swastatika Sentosa Tbk. (DSSA) - 95.76%

• PT Ekamas Mora Republik Tbk. (MORA) - 95.65%

Riady Family (Lippo Group):

• PT Multipolar Technology Tbk. (MLPT) - 99.42%

• PT Siloam International Hospitals Tbk. (SILO) - 96.7%

Bakrie Family:

• PT Ancara Logistics Indonesia Tbk. (ALII) - 97.62%

Prajogo Pangestu:

• PT Barito Renewables Energy Tbk. (BREN) - 97.31%

Jusuf Hamka:

• PT Citra Marga Nusaphala Persada Tbk. (CMNP) - 96.64%

Hartono Family (Djarum Group):

• PT Global Digital Niaga Tbk. (BELI) - 93.83%