The Indonesia Stock Exchange (IDX) has announced that PT Transcoal Pacific Tbk (TCPI) has been added to its list of companies with high shareholding concentration (HSC). TCPI now marks the eleventh issuer to be included in this specific list.
According to the IDX’s official announcement, a substantial 94.1 percent of the company’s total shares are held by a select number of shareholders. The IDX clarified in its statement on Saturday, May 30, 2026, that “This announcement does not inherently indicate any violation of the prevailing laws and regulations within the Capital Market sector.”
Prior to TCPI’s inclusion, ten other issuers were already on the HSC list. These include prominent names such as PT Barito Renewables Energy Tbk (BREN), PT Dian Swastatika Sentosa Tbk (DSSA), PT Abadi Lestari Indonesia Tbk (RLCO), PT Rockfields Properti Indonesia Tbk (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), and PT BSA Logistics Indonesia Tbk (WBSA).
I Gede Nyoman Yetna, the Director of Company Assessment at the IDX, confirmed that the exchange has engaged in dialogues with several of these HSC issuers. “I will not mention names, but most of these companies have met with us,” Nyoman informed reporters at the Indonesia Stock Exchange on Tuesday, May 19, 2026, highlighting the proactive approach of the exchange.
These crucial audiencies focused on exploring potential strategies for companies to navigate their way off the HSC list. Nyoman elaborated that one effective measure companies can undertake is to thoroughly map out their share ownership structures. He emphasized that the exchange does not primarily consider affiliations in share ownership but rather places its focus on the substantial proportion of ownership that is concentrated among a limited number of parties.
Nyoman further explained the market implications, stating that when share ownership becomes excessively concentrated, the resulting price formation in the market tends not to reflect objective conditions. “Friends, what we also want to convey is that with a relatively even distribution, price formation will naturally move towards objectivity based on its fundamentals,” he remarked, underscoring the importance of dispersed ownership for market integrity.
Editor’s Choice: MSCI Reshuffles Composition of Indonesian Issuers
Summary
The Indonesia Stock Exchange (IDX) has added PT Transcoal Pacific Tbk (TCPI) to its list of companies with high shareholding concentration (HSC), making it the eleventh issuer. A significant 94.1 percent of TCPI’s shares are held by a select group of shareholders, though the IDX clarified this does not imply any regulatory violation. Other prominent companies, including PT Barito Renewables Energy Tbk (BREN), are also on this HSC list.
IDX Director I Gede Nyoman Yetna confirmed that the exchange has met with several HSC issuers to discuss strategies for exiting the list. He explained that excessive share ownership concentration can lead to price formation that does not reflect objective conditions, emphasizing that a more even distribution promotes objectivity based on fundamentals. Companies are encouraged to thoroughly map their share ownership structures as a key measure.