February 2, 2026 | 09:24 pm
TEMPO.CO, Jakarta - The Financial Services Authority (OJK) announced the outcomes of a virtual meeting with the Indonesia Stock Exchange (IDX) and Morgan Stanley Capital International (MSCI) on Monday, February 2, 2026.
Hasan Fawzi, Deputy Commissioner and Acting Head of Capital Market, Derivative Finance, and Carbon Exchange Supervision at OJK, said the meeting focused on addressing MSCI’s concerns over the transparency of Indonesia’s stock market.
“We have a plan to address all related issues,” Hasan said in Jakarta.
The plan includes three main measures. First, the regulator will disclose shareholder ownership data for those holding more than 1 percent of shares, improving transparency beyond the current disclosure threshold of 5 percent.
Second, investor classification data will be expanded. Currently grouped into nine main types, the classifications will be broken down into 27 sub-categories to provide more clarity and credibility in reporting beneficial ownership.
Finally, OJK has proposed gradually raising the minimum free float requirement from 7.5 percent to 15 percent, in coordination with market participants. Hasan said the regulator will provide periodic public updates on the implementation of these commitments to enhance market transparency.
“We hope to receive confirmation of acceptance at that time,” he added.
Following this meeting, Hasan said OJK and MSCI will hold a technical-level discussion. MSCI has pledged to guide the regulator on its methodology and calculation process.
MSCI previously temporarily suspended the rebalancing of Indonesian stocks, citing investor concerns over the transparency of ownership structures.
In a statement on January 28, 2026, MSCI noted that while some improvements had been made to float data, fundamental concerns remained about investment capability due to opaque ownership and potential coordinated trading affecting price formation.
To address these concerns, MSCI said more detailed and reliable information on stock ownership is needed, including monitoring high concentrations of ownership, to support accurate assessments of free float and investment capability across all Indonesian stocks.
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