Jakarta. The Indonesia Stock Exchange (IDX) on Thursday released its first-ever list of listed companies with high ownership concentration, marking a new step in capital market reform aimed at improving transparency and investor awareness.

The High Shareholding Concentration List serves as an early warning system, helping investors identify stocks that may face limited liquidity due to a small number of shareholders controlling the majority of shares. It offers investors additional data points to assess liquidity risks and trading dynamics.

The initiative is part of broader market reforms spearheaded by the Financial Services Authority (OJK).

“Publication of this list does not in itself indicate any violation of prevailing capital market laws and regulations,” the IDX said in a disclaimer.

In its inaugural release on Thursday evening, the exchange identified eight companies with highly concentrated ownership structures:

• Barito Renewables Energy (BREN): A small group of investors collectively holds 97.31% of total shares, in both certificated and scripless form.
• Dian Swastatika Sentosa (DSSA): Approximately 95.76% of shares in the coal mining company are controlled by a limited number of investors.
• Abadi Lestari Indonesia (RLCO): Around 95.35% of shares are concentrated among a small group of investors in the supplements and bird’s nest business.
• Rockfields Properti Indonesia (ROCK): Ownership is highly concentrated, with 99.85% of shares held by a small number of investors.
• Panca Anugrah Wisesa (MGLV): About 95.94% of shares in the kitchenware and furniture company are controlled by a limited group.
• Satria Mega Kencana (SOTS): A small group of investors holds 98.35% of shares in the property firm.
• Samator Indo Gas (AGII): Around 97.75% of shares in the industrial gas company are concentrated among a few investors.
• Lima Dua Lima Tiga (LUCY): Approximately 95.47% of shares in the bar and restaurant chain are held by a limited number of investors.