Barito Renewables Hits Two-Year Low on Shareholding Concerns

ff9dmkv5pxbashf7ac5g7zv[_media_dl_1.png BloombergArticle content(Bloomberg) — Shares of PT Barito Renewables Energy tumbled Monday to their lowest in more than two years after the Indonesian stock exchange flagged the company for having a highly concentrated shareholder base.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentThe company, backed by billionaire Prajogo Pangestu, plunged as much as 14% to the lowest level since mid-January 2024 as trading resumed after a Friday holiday.

The Indonesia Stock Exchange said late Thursday that a number of listed firms have more than 95% of shares held by a small group of investors, part of reforms aimed at meeting MSCI Inc.’s standards on ownership transparency.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentOther companies identified include PT Dian Swastatika Sentosa, which fell 14%, and PT Samator Indo Gas and PT Abadi Lestari Indonesia, both of which dropped 15%. Regulators are fast-tracking the changes ahead of a May deadline to avoid a potential downgrade to frontier market status by MSCI that could spur foreign outflows.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentAll four companies did not offer immediate response to requests for comment from Bloomberg News on Monday.Article contentBarito Renewables and Dian Swastatika are both MSCI Indonesia constituents.Article contentThere’s a possibility that both stocks might be excluded from MSCI Indonesia Index, similar to what happened in Hong Kong when the local authority took similar steps, said Wilbert Arifin, an equity analyst at PT Mirae Asset Sekuritas Indonesia. That may prompt active investors to sell ahead of potential passive fund outflows if the exclusions materialize, he added.Article contentThe push for greater disclosure mirrors Hong Kong’s 2016 move to publish shareholder concentration data, IDX’s President Director Jeffrey Hendrik said at a briefing on Thursday.Article contentIndonesia’s stock market has long been dominated by family-owned conglomerates that operate dozens of listed and private entities spanning industries from mining to petrochemicals. The 20 largest tycoon-linked companies on the Jakarta Composite Index account for nearly 43% of index’s weighting, including PT Bank Central Asia and PT Bayan Resources, according to PT Trimegah Sekuritas Indonesia data from June 2025.Article contentREAD: Indonesia Flags Tightly Held Companies in Effort to Satisfy MSCIArticle contentWhile increased transparency may reduce Indonesia’s MSCI Emerging Market weight and trigger about $1 billion in passive outflows, “the reforms significantly lower the risk of a frontier market downgrade,” Arifin said. The policy “signals constructive regulatory engagement and is likely a modest net positive for market sentiment.”Article contentTrending U.S. within 'weeks' of oil shortages if war in Iran continues: Eric Nuttall Oil & Gas CRA denied taxpayer with multiple health issues the disability tax credit Personal Finance Why rate watchers shouldn't take the Bank of Canada at its word Mortgages Canada's $150-billion challenge: How to build a homegrown defence sector and fast Economy The worst is yet to come for fuel prices: FP Video News Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. U.S. within 'weeks' of oil shortages if war in Iran continues: Eric Nuttall Oil & Gas CRA denied taxpayer with multiple health issues the disability tax credit Personal Finance Why rate watchers shouldn't take the Bank of Canada at its word Mortgages Canada's $150-billion challenge: How to build a homegrown defence sector and fast Economy The worst is yet to come for fuel prices: FP Video News