BEI Shareholder Concentration List – Stockbit Snips Release

Daily Market Performance 🚀

IHSG	Foreign Flow	Exchange rate USD/IDR	Gold
8.265,3 -0,31%	-Rp 1.5 trillion	16.818 +0,21%	5.096 -0,05%

Oil	Coal	CPO	Nickel
69,3 -0,04%	116,5 +0,22%	4.038 -0,57%	17.880 +2,23%

👋 Stockbitor!

Acting Main Director ATJeffrey Hendrik, say on Wednesday (11/2) that his party plans to publish a shareholder concentration list (shareholder concentration list) as implemented by the Hong Kong stock exchange, as part of efforts to increase transparency and integrity of the capital market. Jeffrey said that the plan to publish a shareholder concentration list was one of the updates conveyed by BEI in a meeting with MSCI on the same day.

Apart from the plan to release the shareholder concentration list, OJK, BEI and KSEI have previously prepared it a number of steps to increase transparency in response to MSCI’s concerns regarding investability, such as increasing the number of investor classifications from 9 sub-categories to 28 sub-categories and disclosing share ownership with a portion of 1% and above. KSEI has set a target for collecting more detailed investor data in March 2026, temporarily The target for releasing the shareholder concentration list has not been announced.

The shareholder concentration list itself reveals the level of shareholder concentration in an issuer. In practice in Hong Kong, the market authority (Securities and Futures Commission/SFC) periodically highlighting issuers with a high level of shareholder concentration, resulting in the portion of shares circulating in the public being limited.

For examplethe information below is taken from an announcement shares with a high concentration of shareholding, where the SFC highlights several things:

• Share Ownership Structure (as of 27 January 2026): The controlling company and its 20 shareholders own 90.83% of the shares issued by the relevant issuer, so that other shareholders only own 9.17% of the shares issued by the relevant issuer.
• Significant Stock Price Movements: The relevant issuer experienced a share price jump of +275% in the period 9 October 2025–27 January 2026.

Issuers concerned later respond The SFC announcement stated that the 20 concentrated shareholders were independent parties and not parties affiliated with the company, so that the company still met the minimum free float requirement of 25% required by the Hong Kong stock exchange. Meanwhile, in responding to the SFC announcement regarding high concentration shareholding, companies are still required to include a disclaimer that a high level of ownership concentration can cause sharp price fluctuations even though transaction volume is relatively low and/or that share movements may not reflect the real (genuine) market, so investors are expected to be careful when trading shares.

Key Takeaway

We judge that publication The shareholder concentration list has the potential to increase transparency on share ownership of an issuer. For the record, the announcement of shares with high ownership concentration does not necessarily indicate a violationbut rather a warning that such concentrated share ownership has the potential to cause higher risks for investors in trading these shares.

📈 UNVR 2025: Net Profit +127% YoY, Driven by Ice Cream Business Spin-off Profits

• $UNVR: Unilever Indonesia noted down net profit as big as IDR 7.64 T during 2025 (+127% YoY), Which includes profits from the ice cream business spin-off amounting to IDR 3.8 T. Leaving aside the ice cream business and its sales profits (discontinued), net income from continuing operations (continued operation) reach IDR 3.54 T during 2025 (+22% YoY). Net profit from continuing operations was recorded at Rp538 M in 4Q25 (+75% YoY, -51% QoQ). The significant decrease in net profit on a quarterly basis was caused by transformation costs of IDR 460 billion recorded in 4Q25. Putting aside these costs, UNVR’s net profit in 4Q25 reached IDR 998 M, only lower by -10% QoQ. Meanwhile, the significant annual increase in net profit in 4Q25 was caused by the low-base effect, where UNVR was still in the early stages of improving in 4Q24.
• $UNTR: Minister of Energy and Mineral Resources, Bahlil Lahadalia, say on Wednesday (11/2) that The government opens the opportunity to restore the Martabe gold mining permit created by the United Tractors entity, PT Agincourt Resources, as long as the company is proven not to have committed any violations. Bahlil add, if indeed PT Agincourt Resources is proven to have committed a violation, the government will impose sanctions “proportionately.” Bahlil’s statement gives a signal that the government has softened its discourse previously by Danantara, which plans to transfer the Martabe gold mining permit to the National Mineral Company (Perminas). Bahlil also said that his party has not revoked the permit for the Martabe gold mine, different from the government announcement on January 2026 who said that the permit belonging to PT Agincourt Resources was among 28 companies whose permits had been revoked by the government because they were deemed to have violated environmental regulations which worsened the impact of flooding in Sumatra at the end of last year.
• $MEDC: President Director of Medco Energi Internasional, Hilmi Panigoro, said to Reuters that his party plans to expand “aggressively” in Southeast Asia and the Middle East. Hilmi explained that the plan was based on expectations of increasing energy demand, especially from the data center sectoralthough Hilmi did not specify how much funds MEDC would allocate for the acquisition. Hilmi also added that MEDC plans to accelerate the development of the Sakakemang gas blockwith targets to deliver the first supplies by the end of 2027 to meet growing demand in Sumatra and Java.
• $MAPI: DealStreetAsia reported that CVC Capital Partners is in early stage talks to invest in Mitra Adiperkasa. DealStreetAsia sources said that the discussions focused on the potential acquisition of minority shares at the holding company level, with the possibility of increasing the portion of ownership over time. However, MAPI’s founding family is reportedly still considering whether to accept the offer or maintain the current ownership structure. MAPI has not commented on this news, while CVC declined to comment.
• $DEWA: Darma Henwa announce has implemented share buyback of ~230.4 million (0,57%) sheet at average prices Rp. 625/share on February 11 2026. This realization means that DEWA has carried out a buyback of ~1.4 billion (3.51%) shares at an average price of ~Rp. 573/share or a total value of ~Rp. 819 billion since 10 December 2025. This corporate action is part of a buyback plan with a fund allocation of up to IDR 950 billion in the period 19 November 2025–19 February 2026, which the company announced in December 10, 2025.
• $INET: Operator The core synergy of Andalan Prima, PT Abadi Kreasi Unggul Nusantara, bought ~158.1 million INET shares at average prices ~Rp. 364/share or a total value of ~Rp. 57.6 B on February 11, 2026. After this transactionthe portion of direct ownership of PT Abadi Kreasi Unggul Nusantara in INET increased from 57.28% to 57.99%.
• $SMDR: Main Director of Samudera Indonesia, Bani Mulia, say that his party allocate capex ~US$200 million in 2026 (vs. 2025 allocation: US$230–250 million), aimed at to increase the fleet of ships, develop port facilities including the container terminal in Patimban, and build a shipyard in Madura. Bani said that her party currently ordering around 3–5 container ship units and 2 chemical tanker shipsas well as 1 LNG ship unit under study. Bani added that shipping demand was still strong, and the company was even forced to reject some cargoes due to limitations.
• $GIAA: COO DanantaraDony Oskaria, say that his party targeting the consolidation of Pelita Air into Garuda Indonesia to be completed in 1Q26. After this plan is completed, GIAA will become the holding company for state-owned airlines. Bisnis reports that this corporate action plan confirms that GIAA will not merge into PT Aviasi Wisata Indonesia (InJourney), which is a BUMN holding specialist in aviation and tourism.
• $ DOES: President Director of Sumber Global Energy, Welly Thomas, say that his party get a contract to send coal to Bangladesh as much as 1 million tons which will be sent in period of 6 months. The contract value obtained by SGER reached US$71.5 million or ~Rp. 1.2 T.
• $MYOH: Samindo Resources injecting capital worth IDR 270 billion into its subsidiary in the property sector, PT Sentra Terra Indonesiafor operational working capital. PT Sentra Terra Indonesia itself was only founded in January 2026.

Top Gainer 🔥

$ENRG	$SMGR	$TINS	$BKSL
+13,36%	+13,07%	+9,97%	+7,09%

Top Loser 🤕

$KPIG	$HOW	$FILM	$BRPT
-7,43%	-5,19%	-3,93%	-3,51%

🔥 Another hot thing you need to know…

• President Prabowo Subianto’s younger brother and Special Presidential Envoy for Climate and Energy, Hashim Djojohadikusumo, say on Wednesday (11/2) that para OJK and BEI officials were indeed asked to resign following the fall in the JCI due to concerns from MSCI 2 weeks ago. Hashim said that the issue of transparency and market credibility is in the government’s spotlightwhile adding that The government will increase supervision towards authorities and capital market players.
• COO DanantaraDony Oskaria, say on Wednesday (11/2) that his party plans to cut the number of state-owned companies in the insurance sector from 15 entities to 3 entities through mergers and acquisitions. Later, the 3 companies that will become surviving entities will have their respective specializations in the fields of life insurance, general insurance and credit insurance. However, Dony did not provide further details regarding the company that would become the surviving entity.
• US Bureau of Labor Statistics take notes that non-farm payroll in January 2026 increased by 130,000 (vs. December 2025: +48,000), exceeded consensus expectations which estimates an addition of 70,000 while marking the addition highest since December 2024. Meanwhile, unemployment rate in the US in January 2026 decreased slightly to 4.3% (vs. December 2025: 4.4%), lower than consensus expectations of 4.4%.
• Reuters reported that analysts expect palm oil prices to be under pressure in the next few months due to the postponement of the mandatory B50 in Indonesia and expectations of increased productionalthough strong demand and a slowdown in overall production growth in the medium–long term could limit the decline. Director of Godrej International Ltd., Dorab Mistry, estimates that Malaysian palm oil prices will range from RM3,800–4,300/tonne until July 2026assuming production from Southeast Asia increases moderately as the weather improves in Indonesia. As context, the price of CPO on the futures market on Wednesday (11/2) closed lower by -0.85% to the level of RM4,060/ton. Indonesian Palm Oil Entrepreneurs Association (Gapki) myself estimates that Indonesia’s CPO production will grow around +2–3% YoY during 2026after rising +8% YoY to ~52 million tons during 2025.
• One Son’s Vision ($ALL) announce that Nagita Slavina is currently in the negotiation stage to take over the company’s shares and become the new controller. VISI did not detail plans for the portion of ownership that would be acquired by Nagita, however IDN Financials reported that Nagita plans to acquire a minimum of 51% of VISI’s shares.
• J Resources Asia Pacific ($PSAB) through PT J Resources Nusantara has been completed the divestment of ownership of PT Arafura Surya Alam — managers and business license owners Doup gold mining in North Sulawesi — to United Tractors ($UNTR) with the value as previously agreed. PreviouslyUNTR through its subsidiary, PT Danusa Tambang Nusantara, has signed an agreement to acquire PT Arafura Surya Alam from PSAB’s subsidiary, PT J Resources Nusantara, with the total enterprise value of PT Arafura Surya Alam agreed to reach US$540 million.
• Commissioner Ankara Logistics Indonesia ($ALII), Aninditha Anestya Bakrie, sold ~29.8 million ALII shares at average prices Rp. 600/share or a total value of IDR 17.9 billion on February 6 2026. After this transactionAninditha Anestya Bakrie’s direct ownership portion in ALII fell from 2.2% to 2.01%.
• Argo Pantes ($ARGO) get 10 year rental contract worth ~Rp. 220.7 billion Dari Pt Global Yimi Cargo (J&T Cargo).
• Panca Anugrah Wisesa ($MGLV) announce that PT Nextier Datamate Centerwhich operates in the field of providing facilities data centerhas been acquired 78.74% of the company’s shares from PT Trijaya Wisesa Makmur for an undisclosed amount. After this transaction, PT Nextier Datamate Center became the new controller of MGLV.

📖 1 Lot of 100 Sheets: Ancient Regulations or IDX Uniqueness?

“The capital market should be an inclusive space, where anyone, regardless of the size of their capital, can share in the future of the best companies in this country.” — husin1030

Interesting quotes from the Stockbit community this week

One of the unique things about the Indonesian capital market is the implementation of stock buying and selling regulations based on lots, not shares. Because of this regulation, various criticisms have emerged which consider this to be a form of discrimination against retail investors, especially amidst the Indonesian government’s incessant calls for people to increase their financial literacy and start investing. In his writing, Stockbitor husin1030 stressed that Indonesia’s economic character, which is still growing, has the potential to become stronger if the process of buying and selling shares is made easier by removing or changing this regulation. The hope is that the new regulations can encourage more Indonesians to enter the capital market, increase financial inclusion, and reduce interest in illegal activities such as online gambling, fraud and the like. Intrigued by the argument husin1030 in full? Read the discussion in the article following!