Under MSCI Spotlight: Here Are the 13 Latest High Share Concentration Stocks

Jakarta, CNBC Indonesia - Global index provider MSCI has confirmed that Indonesia’s equity market will remain in the Emerging Markets category, based on the results of the MSCI 2026 Market Classification Review early Wednesday morning (24/6/2026). In its latest review, MSCI stated that international institutional investors frequently express concerns when they encounter persistent opacity in share ownership structures and suspect coordinated trading behaviour. Both concerns materially limit investors’ ability to assess the true free float and to rely on observed market prices for portfolio construction and index replication, and both relate directly to the Information Flow and Market Infrastructure pillars of the MSCI Market Accessibility framework. Nevertheless, MSCI acknowledged recent transparency reforms announced by the Financial Services Authority (OJK), the Indonesia Stock Exchange (IDX), and the Indonesian Central Securities Depository (KSEI). These reforms include enhanced disclosure of shareholders with ownership above 1%, more detailed investor classification, the introduction of a High Share Concentration (HSC) framework, and a roadmap to increase the minimum free float requirement to 15%. MSCI stated it will continue to assess their scope, consistency, and sustained effectiveness in the context of determining free float and broader investability assessments. “If adequate progress is not visible by the time of the November 2026 MSCI Index Review, MSCI will consider various options for the appropriate treatment of the Indonesian market, potentially including a consultation on reclassifying Indonesia from Emerging Markets to Frontier Markets,” MSCI wrote. For reference, the next MSCI evaluation target will take place in November 2026. As of 2 June 2026, there are 13 stocks included in the HSC category. The following is the list of HSC stocks: PT Lima Dua Lima Tiga Tbk. (LUCY) - 95.47%, PT Samator Indo Gas Tbk. (AGII) - 97.75%, PT Satria Mega Kencana Tbk. (SOTS) - 98.35%, PT Ifishdeco Tbk. (IFSH) - 99.77%, PT Panca Anugrah Wisesa Tbk. (MGLV) - 95.94%, PT Rockfields Properti Indonesia Tbk. (ROCK) - 99.85%, PT Abadi Lestari Indonesia Tbk. (RLCO) - 95.35%, PT Dian Swastatika Sentosa Tbk. (DSSA) - 95.76%, PT Barito Renewables Energy Tbk. (BREN) - 97.31%, PT BSA Logistics Indonesia Tbk. (WBSA) - 95.82%, PT Transcoal Pacific Tbk. (TCPI) - 94.10%, PT Mahkota Group Tbk. (MGRO) - 93.76%, PT Kota Satu Properti Tbk. (SATU) - 94.27%.